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Why Do Emerging Economies Borrow Short Term?

The authors argue that emerging economies borrow short term due to the high risk premium charged by international capital markets on long-term debt. They first present a model where the debt maturity structure is the outcome of a risk-sharing probl...

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Bibliographic Details
Main Authors: Broner, Fernando A., Lorenzoni, Guido, Schmukler, Sergio L.
Language:English
en_US
Published: World Bank, Washington, D.C. 2013
Subjects:
EMERGING ECONOMIES
SHORT TERM BORROWING
RISK PREMIUM
CAPITAL MARKETS
LONG-TERM DEBT
MATURITY ACCELERATION
RISK SHARING
LIQUIDITY (ECONOMICS)
BOND TRANSFER
BORROWING COSTS
BOND PRICES
Online Access:http://documents.worldbank.org/curated/en/2004/09/5119777/emerging-economies-borrow-short-term
http://hdl.handle.net/10986/14139

Internet

http://documents.worldbank.org/curated/en/2004/09/5119777/emerging-economies-borrow-short-term
http://hdl.handle.net/10986/14139

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