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 r...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2014.
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| Серии: | IMF Working Papers; Working Paper ;
No. 2014/020 |
| Online-ссылка: | Full text available on IMF |