Controlling for bond and issuer characteristics, bond spreads are expected to be equal across different legal jurisdictions, and differences are expected to disappear through arbitrage. However, an analysis of 435 U.S. dollar–denominated bonds issued by 53 emerging market sovereigns during 1990-2015 reveals that after the financial crisis of 2008, the launch spread of sovereign bonds issued under U.K. law has been higher than those issued under U.S...
انظر المزيد
تفاصيل
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2016/10/17
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ورقة عمل خاصة ببحوث السياسات
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WPS7863
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1
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1
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2016/10/17
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Disclosed
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Does governing law affect bond spreads ?
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law
تنزيل الملفات
تقرير كامل
نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)
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