FINANCIAL DISTRESS AND ACCESS TO CAPITAL IN EMERGING MARKETS

被引：2
|
作者：
Guillen, Jorge [1 ]
机构：
[1] Univ ESAN, Lima, Peru
来源：
PRAGUE ECONOMIC PAPERS | 2010年 / 19卷 / 01期
关键词：
sovereign debt; reaccess; international finance; developing countries; SOVEREIGN DEBT; REPUDIATION; REPUTATION; DEFAULT; MODEL;
D O I：
10.18267/j.pep.361
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis I focus on three components of the reaccess strategy commitment to pay, ability to pay, and global liquidity I employ a panel of 49 countries over a nearly 30-year period and apply a simple probit approach to show that, indeed, a sound external position and a sustainable debt profile, accompanied by a favorable global liquidity environment, are the key considerations for creditors considering whether to resume lending
引用
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页码：5 / 20
页数：16
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