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Sovereign external debt and private sector entry in international financial markets

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cris.lastimport.scopus2024-02-12T19:40:50Z
dc.abstract.enThe aim of this paper is to shed light on the public and private sector interdependencies in the international financial market. Using annual data on sovereign and private sector external indebtedness for 95 emerging and developing countries in the 1970-2012 period, it looks at the relationship between the level and structure of public external debt and the likelihood of private sector entry in the international bond and loan markets. The private sector entry in the offshore loans and bonds markets is showed to be conditional on the amount of public sector external debt. The relationship is complex, but in general the saturation of the financial market with external government liabilities renders the private sector entry into the bonds market more difficult.
dc.affiliationUniwersytet Warszawski
dc.contributor.authorBrzozowski, Michał
dc.contributor.authorSiwińska-Gorzelak, Joanna
dc.date.accessioned2024-01-26T07:53:25Z
dc.date.available2024-01-26T07:53:25Z
dc.date.issued2018
dc.description.financeNie dotyczy
dc.identifier.doi10.18559/EBR.2018.2.2
dc.identifier.issn2392-1641
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/120243
dc.identifier.weblinkhttp://cejsh.icm.edu.pl/cejsh/element/bwmeta1.element.desklight-dd61cd78-a4e9-4124-b4b4-315aac1673e8
dc.languageeng
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofEconomics and Business Review
dc.rightsClosedAccess
dc.sciencecloudnosend
dc.subject.enexternal debt
dc.subject.ensovereign
dc.subject.enprivate sector
dc.titleSovereign external debt and private sector entry in international financial markets
dc.typeJournalArticle
dspace.entity.typePublication