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Historical Experience with Bond Financing to Developing Countries

Author

Listed:
  • Mr. Thomas Laursen
  • Mr. Juan Jose Fernandez-Ansola

Abstract

The paper reviews the historical experience of developing countries with bond issues in international markets in order to put the recent wave of bond financing by these countries in some perspective. It examines developments in the early part of this century and during the mid-1970s and early 1980s. The sources and the role played by bond financing during these periods are discussed. The payments problems associated with these bonds that emerged during the 1930s and during the latter half of the 1980s and the ways in which these problems were resolved are also examined.

Suggested Citation

  • Mr. Thomas Laursen & Mr. Juan Jose Fernandez-Ansola, 1995. "Historical Experience with Bond Financing to Developing Countries," IMF Working Papers 1995/027, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1995/027
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=1087
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    Citations

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    Cited by:

    1. Mr. David A. Grigorian, 2003. "On the Determinants of First-Time Sovereign Bond Issues," IMF Working Papers 2003/184, International Monetary Fund.
    2. Enderlein, Henrik & Trebesch, Christoph & von Daniels, Laura, 2012. "Sovereign debt disputes: A database on government coerciveness during debt crises," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 250-266.
    3. Angelos A. Antzoulatos, 1996. "Capital flows & current account deficits in the 1990s: why did Latin America & East Asian countries respond differently?," Research Paper 9610, Federal Reserve Bank of New York.
    4. Antzoulatos, A. A., 2000. "On the determinants and resilience of bond flows to LDCs, 1990-1995," Journal of International Money and Finance, Elsevier, vol. 19(3), pages 399-418, June.
    5. Angelos A. Antzoulatos, 1997. "On the determinants and resilience of bond flows to LDCs, 1990-1995: evidence from Argentina, Brazil and Mexico," Research Paper 9703, Federal Reserve Bank of New York.
    6. Jérôme Sgard, 2000. "La gestion des crises de liquidité internationale : logique de faillite, prêteur en dernier ressort et conditionnalité," Working Papers 2000-16, CEPII research center.

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