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|c 5.00 USD
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|z 9781451843033
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|a 1018-5941
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|a Zettelmeyer, Jeromin.
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|a How Private Creditors Fared in Emerging Debt Markets, 1970-2000 /
|c Jeromin Zettelmeyer, Beatrice Weder, Christoph Klingen.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2004.
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|a 1 online resource (60 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|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.
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|a Mode of access: Internet
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|a Klingen, Christoph.
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|a Weder, Beatrice.
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|a IMF Working Papers; Working Paper ;
|v No. 2004/013
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|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
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