Resource Windfalls and Emerging Market Sovereign Bond Spreads : The Role of Political Institutions

The Role of Political Institutions

Resource Windfalls and Emerging Market Sovereign Bond Spreads : The Role of Political Institutions
We examine the effect that revenue windfalls from international commodity price shocks have on sovereign bond spreads using panel data for 30 emerging market economies during the period 1997-2007. Our main finding is that positive commodity price shocks lead to a significant reduction in the sovereign bond spread in democracies, but to a... READ MORE...

Publication date: July 2010
ISBN 9781455202133
$18.00

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