G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7354
DP7354 Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
Andrew Rose; Mark Spiegel
发表日期2009-07-05
出版年2009
语种英语
摘要We provide a comparison of salient organizational features of primary markets for foreign government debt over the very long run. We focus on output, quality control, information provision, competition, pricing, charging and signaling. We find that the market set up experienced a radical transformation in the recent period and interpret this as resulting from the rise of liability insurance provided by rating agencies. Underwriters have given up their former role as gatekeepers of liquidity and certification agencies to become aggressive competitors in a new speculative grade market.
主题International Macroeconomics
关键词Banks competition Certification Primary bond market Sovereign debt crises
URLhttps://cepr.org/publications/dp7354
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536189
推荐引用方式
GB/T 7714
Andrew Rose,Mark Spiegel. DP7354 Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning. 2009.
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