Financial distress and access to capital in emerging markets

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In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis. I focus on three components of the reaccess strategy: commitment to pay, ability to pay, and global liquidity. I employ a panel of 49 co...

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Detalles Bibliográficos
Autor: Guillén, Jorge
Formato: artículo
Fecha de Publicación:2010
Institución:Universidad ESAN
Repositorio:ESAN-Institucional
Lenguaje:inglés
OAI Identifier:oai:repositorio.esan.edu.pe:20.500.12640/2437
Enlace del recurso:https://hdl.handle.net/20.500.12640/2437
https://doi.org/10.18267/j.pep.361
Nivel de acceso:acceso abierto
Materia:Sovereign debt
Reaccess
International finance
Developing countries
Deuda soberana
Reacceso
Finanzas internacionales
Países en desarrollo
https://purl.org/pe-repo/ocde/ford#5.02.04
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spelling Guillén, Jorge2021-09-30T16:57:59Z2021-09-30T16:57:59Z2010-01-01Guillen, J. (2010). Financial distress and access to capital in emerging markets. Prague Economic Papers, 19(1), 5-20. https://doi.org/10.18267/j.pep.361https://hdl.handle.net/20.500.12640/2437https://doi.org/10.18267/j.pep.361In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis. I focus on three components of the reaccess strategy: commitment to pay, ability to pay, and global liquidity. I employ a panel of 49 countries over a nearly 30-year period and apply a simple probit approach to show that, indeed, a sound external position and a sustainable debt profile, accompanied by a favorable global liquidity environment, are the key considerations for creditors considering whether to resume lending.application/pdfInglésengPrague University of Economics and BusinessCZurn:issn:1210-0455urn:issn:2336-730Xhttps://pep.vse.cz/pdfs/pep/2010/01/01.pdfinfo:eu-repo/semantics/openAccessAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttps://creativecommons.org/licenses/by-nc-nd/4.0/Sovereign debtReaccessInternational financeDeveloping countriesDeuda soberanaReaccesoFinanzas internacionalesPaíses en desarrollohttps://purl.org/pe-repo/ocde/ford#5.02.04Financial distress and access to capital in emerging marketsinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículoreponame:ESAN-Institucionalinstname:Universidad ESANinstacron:ESANhttps://orcid.org/0000-0002-4511-2108Acceso abiertoPrague Economic Papers201519ORIGINALguillen_2010.pdfguillen_2010.pdfTexto completoapplication/pdf210803https://repositorio.esan.edu.pe/bitstreams/83840bd6-d12f-4c51-9124-6e7fbf4d3013/download9951888bdf3cd445b3cb764584a557d1MD51trueAnonymousREADTHUMBNAILguillen_2010.pdf.jpgguillen_2010.pdf.jpgGenerated Thumbnailimage/jpeg3633https://repositorio.esan.edu.pe/bitstreams/3048a6ed-110a-430e-92eb-1f6dfb108bb8/downloadca9ef790c14abf7b57e9102b7a6ed9cbMD55falseAnonymousREADTEXTguillen_2010.pdf.txtguillen_2010.pdf.txtExtracted texttext/plain47633https://repositorio.esan.edu.pe/bitstreams/ac669bac-679e-4200-aff5-de838059480b/download3442f2e1cb1334bbb841140b81e84a1cMD54falseAnonymousREAD20.500.12640/2437oai:repositorio.esan.edu.pe:20.500.12640/24372024-11-25 19:41:14.428https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessopen.accesshttps://repositorio.esan.edu.peRepositorio Institucional ESANrepositorio@esan.edu.pe
dc.title.en_EN.fl_str_mv Financial distress and access to capital in emerging markets
title Financial distress and access to capital in emerging markets
spellingShingle Financial distress and access to capital in emerging markets
Guillén, Jorge
Sovereign debt
Reaccess
International finance
Developing countries
Deuda soberana
Reacceso
Finanzas internacionales
Países en desarrollo
https://purl.org/pe-repo/ocde/ford#5.02.04
title_short Financial distress and access to capital in emerging markets
title_full Financial distress and access to capital in emerging markets
title_fullStr Financial distress and access to capital in emerging markets
title_full_unstemmed Financial distress and access to capital in emerging markets
title_sort Financial distress and access to capital in emerging markets
author Guillén, Jorge
author_facet Guillén, Jorge
author_role author
dc.contributor.author.fl_str_mv Guillén, Jorge
dc.subject.en_EN.fl_str_mv Sovereign debt
Reaccess
International finance
Developing countries
topic Sovereign debt
Reaccess
International finance
Developing countries
Deuda soberana
Reacceso
Finanzas internacionales
Países en desarrollo
https://purl.org/pe-repo/ocde/ford#5.02.04
dc.subject.es_ES.fl_str_mv Deuda soberana
Reacceso
Finanzas internacionales
Países en desarrollo
dc.subject.ocde.none.fl_str_mv https://purl.org/pe-repo/ocde/ford#5.02.04
description In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis. I focus on three components of the reaccess strategy: commitment to pay, ability to pay, and global liquidity. I employ a panel of 49 countries over a nearly 30-year period and apply a simple probit approach to show that, indeed, a sound external position and a sustainable debt profile, accompanied by a favorable global liquidity environment, are the key considerations for creditors considering whether to resume lending.
publishDate 2010
dc.date.accessioned.none.fl_str_mv 2021-09-30T16:57:59Z
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dc.identifier.citation.none.fl_str_mv Guillen, J. (2010). Financial distress and access to capital in emerging markets. Prague Economic Papers, 19(1), 5-20. https://doi.org/10.18267/j.pep.361
dc.identifier.uri.none.fl_str_mv https://hdl.handle.net/20.500.12640/2437
dc.identifier.doi.none.fl_str_mv https://doi.org/10.18267/j.pep.361
identifier_str_mv Guillen, J. (2010). Financial distress and access to capital in emerging markets. Prague Economic Papers, 19(1), 5-20. https://doi.org/10.18267/j.pep.361
url https://hdl.handle.net/20.500.12640/2437
https://doi.org/10.18267/j.pep.361
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dc.publisher.none.fl_str_mv Prague University of Economics and Business
dc.publisher.country.none.fl_str_mv CZ
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Financial distress and access to capital in emerging markets
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