| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12552 |
| 来源ID | Working Paper 12552 |
| Local Currency Bond Markets | |
| John D. Burger; Francis E. Warnock | |
| 发表日期 | 2006-10-03 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We analyze the development of 49 local bond markets. Our main finding is that policies and laws matter: Countries with stable inflation rates and strong creditor rights have more developed local bond markets and rely less on foreign-currency-denominated bonds. The results suggest that "original sin" is a misnomer. Emerging economies are not inherently dependent upon foreign-currency debt. Rather, by improving policy performance and strengthening institutions they may develop local currency bond markets, reduce their currency mismatch, and lessen the likelihood of future crises. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Financial Markets ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w12552 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570212 |
| 推荐引用方式 GB/T 7714 | John D. Burger,Francis E. Warnock. Local Currency Bond Markets. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12552.pdf（187KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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