Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19887 
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dc.contributor.authorMoser, Christophen
dc.date.accessioned2009-01-28T16:08:34Z-
dc.date.available2009-01-28T16:08:34Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/19887-
dc.description.abstractSovereign risk is defined as a country?s ability-to-pay and willingness-to-pay its debt. This paper examines how cabinet reshuffles affecting the ministry of finance or economics are perceived by sovereign bond holders in twelve Latin American countries from 1992 to 2005. We find that such political news instantaneously increases bond spreads. Furthermore, spreads trend significantly upward in the 40 days leading up to the minister change, before flattening out on a higher level in the 40 days thereafter. Evidence suggests that uncertainty about the future course of economic policy and the government?s willingness-to-pay increases refinancing costs for respective emerging markets.en
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik, Ausschuss für Entwicklungsländer |cGöttingenen
dc.relation.ispartofseries|aProceedings of the German Development Economics Conference, Göttingen 2007 |x24en
dc.subject.jelG14en
dc.subject.jelH63en
dc.subject.jelF34en
dc.subject.jelF30en
dc.subject.ddc330en
dc.subject.keywordpolitical instabilityen
dc.subject.keywordcountry risken
dc.subject.keywordbond spreadsen
dc.subject.keywordLatin Americaen
dc.subject.stwPortfolio-Investitionen
dc.subject.stwÖffentliche Anleiheen
dc.subject.stwPolitische Stabilitäten
dc.subject.stwRisikoen
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwSchätzungen
dc.subject.stwLateinamerikaen
dc.titleThe Impact of Political Risk on Sovereign Bond Spreads - Evidence from Latin America-
dc.typeConference Paperen
dc.identifier.ppn560907222en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:gdec07:6804en

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