Do Enhanced Collective Action Clauses Affect Sovereign Borrowing Costs?
This paper analyzes the effects of including collective action clauses (CACs) and enhanced CACs in international (nondomestic law-governed) sovereign bonds on sovereigns’ borrowing costs, using secondary-market bond yield spreads. Our findings indicate that inclusion of enhanced CACs, introduced...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Warsaw
2021-10-01
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| Series: | Journal of Banking and Financial Economics |
| Subjects: | |
| Online Access: | https://jbfe.wz.uw.edu.pl/resources/html/article/details?id=223724 |