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The term structure of credit spreads in project finance

Author

Listed:
  • Marco Sorge

    (World Bank Group - International Finance Corporation)

  • Blaise Gadanecz

Abstract

This paper analyses the peculiar nature of credit risk in project finance by means of a comparative econometric analysis of ex ante credit spreads for a large cross section of international loans and bonds between 1993 and 2001 in both industrialised and emerging countries.

Suggested Citation

  • Marco Sorge & Blaise Gadanecz, 2004. "The term structure of credit spreads in project finance," BIS Working Papers 159, Bank for International Settlements.
    • Handle: RePEc:bis:biswps:159
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Vink, Dennis, 2007. "An Empirical Analysis of Asset-Backed Securitization," MPRA Paper 10382, University Library of Munich, Germany, revised 25 Aug 2008.
    2. Hainz, Christa & Kleimeier, Stefanie, 2006. "Project Finance as a Risk-Management Tool in International Syndicated Lending," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 183, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    3. Purkayastha Dhruba, 2018. "Managing Credit Risk and Improving Access to Finance in Green Energy Projects," Working Papers id:12890, eSocialSciences.
    4. Vivek Rao, 2018. "An Empirical Analysis of the Factors that Influence Infrastructure Project Financing by Banks in Select Asian Economies," Working Papers id:12896, eSocialSciences.

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    More about this item

    Keywords

    project finance; term structure of credit spreads; political risk; capital requirements;
    All these keywords.

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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