Equity Prices, Credit Default Swaps, and Bond Spreads in Emerging Markets

Working Paper No. 04/27

Equity Prices, Credit Default Swaps, and Bond Spreads in Emerging Markets
This paper examines equilibrium price relationships and price discovery between credit defaul swap (CDS), bond, and equity markets for emerging market sovereign issuers. Findings suggest that CDS and bond spreads converge despite various pressures that arise in the market. In most countries, however, we do not find any equilibrium price... READ MORE...

Publication date: February 2004
ISBN 9781451844559
$15.00

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Publication date: February 2004

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Publication date: February 2004

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