Book Details
Format
Kindle
Pages
15
Language
English
Published
Apr 1, 2004
Publisher
Not Avail
ISBN-10
6613783404
ISBN-13
9786613783400
Description
Does macroeconomic data transparency-as signaled by subscription to the IMF's Special Data Dissemination Standard (SDDS)-help reduce borrowing costs in private capital markets? This question is examined using detailed data on new issues of sovereign foreign currency-denominated (U.S. dollar, yen, and euro) bonds for several emerging market economies. Panel econometric estimates indicate that spreads on new bond issues declined by about 75 basis points following SDDS subscription.