Sub-National Credit Risk and Sovereign Bailouts: Who Pays the Premium?

Sub-National Credit Risk and Sovereign Bailouts: Who Pays the Premium?
Studies have shown that markets may underprice sub-national governments' risk on the implicit assumption that these entities would be bailed out by their central government in case of financial difficulties. However, the question of whether sovereigns pay a premium on their own borrowing as a result of (implicitly or explicitly) guaranteeing... READ MORE...

Publication date: January 2014
ISBN 9781484398876
$18.00

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