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Government Debt in Emerging Market Countries

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Author Info

  • Anastasia Guscina
  • Olivier Jeanne

Abstract

This paper presents a new database on government debt in 19 emerging market countries since 1980. The data set focuses on the structure of debt in terms of jurisdiction of insurance, maturity, currency composition and indexation. The paper presents stylized facts on debt structures and preliminary evidence on their determinants. We observe substantial crosscountry variation in the structure of domestic debt and find it to be associated with countries'' record of monetary stability.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/98.

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Length: 31
Date of creation: 01 Apr 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/98

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Related research

Keywords: Debt management; Sovereign debt; Public debt; Domestic debt; External debt; Emerging markets; Databases; inflation; government debt; international debt; currency debt; debt structures; foreign currency; debt database; domestic currency; currency composition; debt structure; short-term debt; inflation rate; foreign currency debt; high inflation; public and publicly guaranteed; low inflation; central bank; long-term debt; debt holder; inflationary shock; average inflation; real value; debt market; domestic debt markets; debtor reporting; international lending; debtor reporting system; debt maturity; inflation rates; reserve bank; central banks; domestic savings; foreign debt; national debt; public debt management; domestic investor; categories of debt; debt public; monetary policy; average inflation rate; currency mismatches; official creditors; public and publicly guaranteed debt; debt problems; domestic debt market;

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References

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  1. Missale, Alessandro, 1999. "Public Debt Management," OUP Catalogue, Oxford University Press, number 9780198290858.
  2. Hausmann, Ricardo & Panizza, Ugo, 2003. "On the determinants of Original Sin: an empirical investigation," Journal of International Money and Finance, Elsevier, vol. 22(7), pages 957-990, December.
  3. Claessens, Stijn & Klingebiel, Daniela & Schmukler, Sergio, 2003. "Government Bonds in Domestic and Foreign Currency: The Role of Macroeconomic and Institutional Factors," CEPR Discussion Papers 3789, C.E.P.R. Discussion Papers.
  4. John D. Burger & Francis E. Warnock, 2003. "Diversification, original sin, and international bond portfolios," International Finance Discussion Papers 755, Board of Governors of the Federal Reserve System (U.S.).
  5. Isard,Peter, 2005. "Globalization and the International Financial System," Cambridge Books, Cambridge University Press, number 9780521605076, October.
  6. Mehl, Arnaud & Reynaud, Julien, 2005. "The determinants of ‘domestic’ original sin in emerging market economies," Working Paper Series 0560, European Central Bank.
  7. Isard,Peter, 2005. "Globalization and the International Financial System," Cambridge Books, Cambridge University Press, number 9780521843898, October.
  8. Eduardo Borensztein & Olivier Jeanne & Paolo Mauro & Jeromin Zettelmeyer & Marcos Chamon, 2005. "Sovereign Debt Structure for Crisis Prevention," IMF Occasional Papers 237, International Monetary Fund.
  9. Barry Eichengreen & Ricardo Hausmann, 1999. "Exchange rates and financial fragility," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 329-368.
  10. Morris Goldstein & Philip Turner, 2004. "Controlling Currency Mismatches in Emerging Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 373.
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