Who Saw Sovereign Debt Crises Coming?
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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https://www.oecd.org/en/publications/who-saw-sovereign-debt-crises-coming_227642504346.html
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This paper studies sovereign debt crises during the period 1993-2006 through the prism of the primary sovereign bond market. Two conclusions emerge. First, investment banks price sovereign default risk well before crises occur and before investors detect default risk. Between three and one years prior to the onset of a crisis, sovereign default...
