Why Do Emerging Economies Borrow Short Term?
We argue that one reason why emerging economies borrow short term is that it is cheaper than borrowing long term. This is especially the case during crises, as in these episodes the relative cost of long-term borrowing increases. We construct a unique database of sovereign bond prices, returns, a...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
MIT Press for the European Economic Association
2011
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| Online Access: | http://hdl.handle.net/1721.1/61738 |