Does governing law affect bond spreads ? (English)

Controlling for bond and issuer characteristics, bond spreads are expected to be equal across different legal jurisdictions, and differences are expected to disappear through arbitrage. However, an analysis of 435 U.S. dollar–denominated bonds issued by 53 emerging market sovereigns during 1990-2015 reveals that after the financial crisis of 2008, the launch spread of sovereign bonds issued under U.K. law has been higher than those issued under U.S...

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Author

Ratha,Dilip Kumar;

De,Supriyo;

Kurlat,Sergio Andres;
Document Date
2016/10/17
Document Type
Policy Research Working Paper
Report Number
WPS7863
Volume No
1
Total Volume(s)
1
Country
United States, United Kingdom, World,
Region
Europe and Central Asia, Other,
Disclosure Date
2016/10/17
Disclosure Status
Disclosed
Doc Name
Does governing law affect bond spreads ?
Keywords
law

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Citation

Ratha,Dilip Kumar; De,Supriyo; Kurlat,Sergio Andres.

Does governing law affect bond spreads ? (English). Policy Research working paper|no. WPS 7863 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/903341476714665225

Does governing law affect bond spreads ? (English)

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