Staff View: Sovereign Debt Distress and Corporate Spillover Impacts

Sovereign Debt Distress and Corporate Spillover Impacts

In much of the standard corporate finance literature in which sovereign debt is treated as a risk free asset, corporate bond prices are seen to depend on idiosyncratic risk factors specific to the issuing company, with public debt playing an indire...

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Bibliographic Details
Main Author:	Dailami, Mansoor
Language:	English
Published:	2012
Subjects:	ACTIVE MARKET ASSET CLASS BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BALANCE SHEETS BANK BALANCE SHEET BANK CREDIT BANK LOAN BANK LOANS BANKING MARKET BANKING SYSTEM BASIS POINTS BOND HOLDERS BOND INSTRUMENTS BOND ISSUANCE BOND ISSUERS BOND MARKET BOND PRICE BOND PRICES BOND RATING BOND SPREAD BOND SPREADS BOND VALUATION BOND YIELD BONDHOLDERS BONDS BORROWER BUSINESS CYCLE BUYBACK BUYBACKS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CASH FLOW CASH FLOWS CDS COLLATERALIZATION COLLECTIVE ACTIONS COLLECTIVE ACTIONS CLAUSES COMMODITY PRICES CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE BOND ISSUANCES CORPORATE BOND MARKET CORPORATE BONDS CORPORATE BORROWERS CORPORATE CREDIT RISK CORPORATE DEBT CORPORATE DEFAULT CORPORATE GOVERNANCE CORPORATE MARKET CORPORATE SECURITIES COUNTRY CREDIT COUNTRY RISK COUPON CREDIT AGENCIES CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT DERIVATIVES CREDIT RATINGS CREDIT RISK CREDIT RISK ASSESSMENT CREDIT RISKS CREDIT SPREADS CREDITORS CREDITWORTHINESS CURRENCY CURRENCY CRISES DEBT CAPITAL DEBT CONTRACT DEBT CRISIS DEBT ISSUANCE DEBT ISSUERS DEBT MANAGEMENT DEBT OBLIGATION DEBT OBLIGATIONS DEBT OUTSTANDING DEBT RESTRUCTURING DEBT SERVICING DEBTOR DEBTOR COUNTRIES DEFAULT INFORMATION DEFAULT PROBABILITY DEFAULT RISK DEFAULTS DEVALUATION DEVELOPING COUNTRIES DISPUTE RESOLUTION DOMESTIC BANKS DUMMY VARIABLE ECONOMIC DEVELOPMENT EMERGING BOND MARKET EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET BOND EMERGING MARKET ECONOMIES EMERGING MARKETS EQUITY MARKETS EQUITY PRODUCTS EUROBOND EXTERNAL BORROWING EXTERNAL DEBT FACE VALUE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL DISTRESS FINANCIAL HEALTH FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL STRESS FISCAL POLICY FIXED EXCHANGE RATE FLOATING RATE FLOATING RATE NOTES FOREIGN BANK FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY LOAN FOREIGN DEBT FOREIGN INVESTORS FOREIGNCURRENCY FREE ASSET GLOBAL BOND GLOBAL BOND MARKETS GLOBAL BUSINESS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL MARKETS GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SECURITIES GOVERNMENT SUPPORT HIGH-YIELD BOND INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL BOND INTERNATIONAL BOND MARKETS INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL DEBT INTERNATIONAL DEBT MARKETS INTERNATIONAL INTEREST INTERNATIONAL MARKETS INVESTOR CONFIDENCE ISSUANCE ISSUANCES LIABILITY LIABILITY MANAGEMENT LIQUIDATION LIQUIDITY LOAN LOAN DATA LOAN MARKET LOAN MARKETS LOCAL CURRENCIES LOCAL FINANCE LONG-TERM INVESTMENT MACROECONOMIC CONDITIONS MACROECONOMIC RISKS MACROECONOMIC VARIABLES MARKET BORROWERS MARKET BORROWINGS MARKET CONDITIONS MARKET CONSTRAINTS MARKET DEBT MARKET DEVELOPMENT MARKET FINANCE MARKET PRACTICE MARKET PRICE MARKETABLE BOND MATURITY MONETARY POLICY PAYMENT OBLIGATION POLITICAL RISK PRIVATE BOND PRIVATE BORROWERS PRIVATE BORROWING PRIVATE CORPORATE DEBT PRIVATE CREDIT PRIVATE DEBT PUBLIC DEBT PUBLIC FINANCES RETURN RISK AVERSION RISK EXPOSURE RISK FACTORS RISK PREMIUMS RISKY ASSET SAFETY NET SECONDARY MARKET SMALL BUSINESSES SOVEREIGN BOND SOVEREIGN BOND MARKET SOVEREIGN BOND MARKETS SOVEREIGN BONDS SOVEREIGN DEBT SOVEREIGN DEBT PROBLEMS SOVEREIGN DEFAULT SOVEREIGN DEFAULTS SOVEREIGN ENTITY SOVEREIGN ISSUERS SOVEREIGN RISK SWAP SWAPS T-BOND TERM STRUCTURE OF INTEREST RATES TRANSPARENCY TREASURY TREASURY BOND TREASURY BOND YIELD TREASURY SECURITIES TREASURY SECURITY VALUATION VALUE OF ASSETS WARRANTS YIELD SPREADS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100726102657 http://hdl.handle.net/10986/3864

Sovereign Debt Distress and Corporate Spillover Impacts

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