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

页码：5 / 20

页数：16

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