Resource Windfalls and Emerging Market Sovereign Bond Spreads : The Role of Political Institutions

Resource Windfalls and Emerging Market Sovereign Bond Spreads : The Role of Political Institutions

We examine the effect that revenue windfalls from international commodity price booms have on sovereign bond spreads using panel data for 38 emerging market economies during the period 1997-2007. Our main finding is that commodity price booms lead to a significant reduction in the sovereign bond spr...

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Bibliographic Details
Main Authors: Arezki, Rabah, Brückner, Markus
Format: Journal Article
Language:en_US
Published: World Bank 2013
Subjects:
Bond
bonds
commodities
commodity
commodity export
commodity exports
commodity price
commodity prices
debt
democracies
economic development
Emerging Market
emerging market economies
Emerging Markets
financial support
foreign currency
natural resource
natural resources
output
political economy
Online Access:http://hdl.handle.net/10986/15310

Internet

http://hdl.handle.net/10986/15310

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