How Private Creditors Fared in Emerging Debt Markets, 1970-2000 /

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...

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Détails bibliographiques
Auteur principal: Zettelmeyer, Jeromin
Autres auteurs: Klingen, Christoph, Weder, Beatrice
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2004.
Collection:IMF Working Papers; Working Paper ; No. 2004/013
Accès en ligne:Full text available on IMF
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100 1 |a Zettelmeyer, Jeromin. 
245 1 0 |a How Private Creditors Fared in Emerging Debt Markets, 1970-2000 /  |c Jeromin Zettelmeyer, Beatrice Weder, Christoph Klingen. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2004. 
300 |a 1 online resource (60 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Klingen, Christoph. 
700 1 |a Weder, Beatrice. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2004/013 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2004/013/001.2004.issue-013-en.xml  |z IMF e-Library