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

Topics:
Credit Management,
Equity,
Investment and Capital Markets
Tags:
Bond,
Emerging Market,
Equity,
Finance,
Financial Services,
Investment
Source:
International Monetary Fund

FREE Registration is required

Overview: This paper examines equilibrium price relationships and price discovery between credit default swap (CDS), bond, and equity markets for emerging market sovereign issuers. The findings suggest that CDS and bond spreads converge despite various pressures that arise in the market. In most countries, however, the paper does not find any equilibrium price relationship between the bond and CDS markets and the equity markets. As for price discovery, the results are mixed. This stands in contrast to the empirical findings on corporate issuers in the United States and Europe.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 1,608KB | Date: Feb 2004 | Pages: 31

People who downloaded this item also downloaded

Webcast Webcast: Calculated Risk: Inside the Billion-Dollar 'Gut' of Goldman Sachs
White Paper Credit Default Swaps - Into the Mainstream
White Paper An Overview of the Emerging Market Credit Derivatives Market
White Paper Improving Performance With Credit Default Swaps
White Paper Loan Commitments: Issues Related to Pricing, Trading, and Accounting

Top results from Credit Management

White Paper Looking for a fast payback? 10 Minutes with Free Tool Can Save Thousands
Webcast Webcast: Smart Techniques for application security: whitebox + blackbox testing.
White Paper PCI DSS Compliance in the UNIX/Linux Datacenter Environment
White Paper Systems Management Buyers Guide For Medium Enterprises
White Paper Get the facts about credit card security and PCI compliance

» View all Credit Management listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).