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Predicting Discounts of Secondary Market Sovereign Debts

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  • Palac-McMiken, Evanor D.

Abstract

This paper assesses the Institutional Investor Country Risk Rating (IICR) to analyze whether secondary market prices are reliable indicators of debt values. It starts with the conviction that the rating scores are reasonable measure of banker’s perceptions of the country’s creditworthiness. Regression results indicate illiquidity of the secondary market.

Suggested Citation

  • Palac-McMiken, Evanor D., 1995. "Predicting Discounts of Secondary Market Sovereign Debts," Philippine Journal of Development JPD 1995 Vol. XXII No. 1-, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:pjdevt:jpd_1995_vol__xxii_no__1-c
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    File URL: https://www.pids.gov.ph/publication/philippine-journal-of-development/predicting-discounts-of-secondary-market-sovereign-debts
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    References listed on IDEAS

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