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Record Nr. |
UNINA9910820344403321 |
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Autore |
Cady John |
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Titolo |
Sovereign Borrowing Cost and the IMF’s Data Standards Initiatives / / John Cady, Anthony Pellechio |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-2761-3 |
1-4527-7436-6 |
1-283-51132-0 |
9786613823779 |
1-4519-0873-3 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (26 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Capital market |
Debts, Public |
Disclosure of information |
Economic indicators - Standards |
Finance - Standards |
Money and Monetary Policy |
Statistics |
Data Transmission Systems |
Methodology for Collecting, Estimating, and Organizing Macroeconomic Data |
Data Access |
Monetary Policy, Central Banking, and the Supply of Money and Credit: General |
Data Collection and Data Estimation Methodology |
Computer Programs: Other |
Data capture & analysis |
Monetary economics |
Econometrics & economic statistics |
Special Data Dissemination Standard (SDDS) |
Credit ratings |
Data dissemination |
Financial statistics |
Data transmission systems |
Finance |
Costa Rica |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references: (p. 23-24). |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. DATA AND EMPIRICAL APPROACH""; ""A. Sovereign Borrowing Cost Model""; ""B. Launch Spreads""; ""C. Launch Yields""; ""IV. CONCLUSIONS""; ""APPENDIX I. MAIN DATA SOURCES AND DESCRIPTION""; ""REFERENCES"" |
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Sommario/riassunto |
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The effects of the IMF's data standards initiatives on sovereign borrowing costs in private capital markets are investigated for 26 emerging market and developing countries. Stable and significant panel econometric estimates indicate that subscription to the Special Data Dissemination Standard (SDDS) reduces launch spreads by an average of 20 percent while participation in the General Data Dissemination System (GDDS) reduces spreads for those countries with access to capital markets by an average of 8 percent. These estimates correspond to discounts of some 50 and 20 basis points, respectively. Evidence of similar discounts is also found when launch yields are analyzed. |
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