TY  - UNPD
A1  - Moretti, Laura
T1  - Transparency and emerging market bond spreads : [Version June 2011]
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2011,14
N2  - I investigate the effect of transparency on the borrowing costs of Emerging Markets Economies. Transparency is measured by whether or not the countries publish the IMF Article IV Staff report and the Reports on the Observance of Standards and Codes (ROSC). Using difference-in-difference estimation, I study the effect on the sovereign credit spreads for 18 Emerging Market Economies over the period 1999-2007. I show that the effect of publishing the Article IV reports is negligible while publishing the ROSC matters, leading to a reduction in the spreads of over 15% in the samples 1999-2006 and 1999-2007. JEL Classification: F33, F34, G15 Keywords: Sovereign Bond Markets, Transparency, Emerging Market Economies
T3  - CFS working paper series - 2011, 14 
KW  - Sovereign Bond Markets
KW  - Transparency
KW  - Emerging Market Economies
KW  - Emerging Market Emerging Market
KW  - Staatsanleihe Staatsanleihe
KW  - Zins
Y1  - 2011
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/22157
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-103350
UR  - https://www.ifk-cfs.de/fileadmin/downloads/publications/wp/2011/11_14.pdf
IS  - Version: June 2011
ER  -