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...
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| 格式: | 杂志 |
| 语言: | English |
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Washington, D.C. :
International Monetary Fund,
2020.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2020/162 |
| 在线阅读: | Full text available on IMF |