Do Enhanced Collective Action Clauses Affect Sovereign Borrowing Costs? /

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...

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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