Bienvenue à la Bibliothèque Alo de l'Université Shalom de Bunia
A partir de cette page vous pouvez :
|
Titre :
|
How Private Creditors Fared in Emerging Debt Markets, 1970-2000 :
|
|
Titre de série :
|
Working Paper, 13
|
|
Auteurs :
|
Christoph Klingen
|
|
Type de document :
|
document électronique
|
|
Editeur :
|
[S.l.] : International Monetary Fund, 2004
|
|
ISBN/ISSN/EAN :
|
978-1-4518-4303-3
|
|
Résumé :
|
We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on World Bank data. From 1970-2000, returns averaged 9 percent per annum, about the same as returns on a ten-year U.S. treasury bond. This reflects the combined effect of the 1980s debt crisis and much higher returns during 1989-2000. Annual returns since 1986 have been less volatile than emerging market equity returns but more volatile than returns on U.S. corporate or high-yield bonds. However, unlike returns on these bonds, emerging market debt returns do not seem significantly correlated with U.S. or world stock markets.
|
Ajouter au panier
