IDEAS home Printed from
   My bibliography  Save this paper

CDS-Bono Farki ve Duzeltme Hareketi


  • Kurmas Akdogan
  • Meltem Gulenay Chadwick


[TR] Ulke kredi riskinin alternatif gostergeleri olan kredi temerrut takasi (CDS) orani ve EMBI+ulke farki degerlerinin teoride arbitraj imkanina yer vermeyecek sekilde esit olmasi beklense de; iki veri donemsel olarak oldukca farkli hareketler gosterebilmektedir. Bu not, soz konusu farkin aciklayicisi olabilecek yapisal etmenleri ve piyasa etmenlerini tanitmakta; CDS ve bono piyasasinin secilmis ulkeler bazinda ve kriz donemlerinde ayrismasinin dinamiklerini incelemektedir. [EN] Theoretically, Credit Default Swap (CDS) spreads and EMBI+Country Sovereign Spreads should be equal to avoid arbitrage opportunity. However, data reveals significant differences between these two spreads. This note discusses structural and market factors behind this discrepancy and analyzes the divergence of CDS and bond markets especially during periods of financial market stress.

Suggested Citation

  • Kurmas Akdogan & Meltem Gulenay Chadwick, 2012. "CDS-Bono Farki ve Duzeltme Hareketi," CBT Research Notes in Economics 1201, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  • Handle: RePEc:tcb:econot:1201

    Download full text from publisher

    File URL:
    Download Restriction: no


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Nurbanu Bursa & Hüseyin Tatlýdil, 2015. "Investigation of Credit Default Swaps using Detrended Fluctuation Analysis which is an Econophysical Technique," Eurasian Eononometrics, Statistics and Emprical Economics Journal, Eurasian Academy Of Sciences, vol. 2(2), pages 25-33, October.
    2. Bilal Kargi, 2014. "Credit Default Swap (Cds) Spreads: The Analysis Of Time Series For The Interaction With The Interest Rates And The Growth In Turkish Economy," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 10(1), pages 59-66.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tcb:econot:1201. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.