Do Enhanced Collective Action Clauses Affect Sovereign Borrowing Costs? /

This paper analyzes the effects of including collective action clauses (CACs) and enhanced CACs in international (nondomestic law-governed) sovereign bonds on sovereigns' borrowing costs, using secondary-market bond yield spreads. Our findings indicate that inclusion of enhanced CACs, introduce...

詳細記述

書誌詳細
第一著者: Chung, Kay
その他の著者: Papaioannou, Michael
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 2020.
シリーズ:IMF Working Papers; Working Paper ; No. 2020/162
オンライン・アクセス:Full text available on IMF

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