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Sovereign Default Risk Valuation - Implications of Debt Crises and Bond Restructurings (Paperback, 2006 ed.) Loot Price: R1,600
Discovery Miles 16 000
Sovereign Default Risk Valuation - Implications of Debt Crises and Bond Restructurings (Paperback, 2006 ed.): Jochen Andritzky

Sovereign Default Risk Valuation - Implications of Debt Crises and Bond Restructurings (Paperback, 2006 ed.)

Jochen Andritzky

Series: Lecture Notes in Economics and Mathematical Systems, 582

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Loot Price R1,600 Discovery Miles 16 000 | Repayment Terms: R150 pm x 12*

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Past cycles of sovereign lending and default in emerging markets suggest that debt crises will recur at some point. In addressing debt crises it has proven helpful to distinguish between situations of illiquidity and insolvency. Solutions range from a voluntary debt swap to a soft or hard restructuring. This book shows why investors should reckon with similar credit events in the future.

Insights gained from recent restructurings inspire the design of a valuation model for sovereign bonds. Using the distinction between hard and soft restructurings, the model draws parallels to the concepts of face value and market value recovery. An extension into credit default swap markets explains why bond and CDS spreads diverge during distress.

This survey of the sovereign bond market provides investors with a useful toolkit for analyzing sovereign bonds and foreseeing trends in the international financial architecture. The result should be a better understanding of debt crises and more deliberate investment decisions.

General

Imprint: Springer-Verlag
Country of origin: Germany
Series: Lecture Notes in Economics and Mathematical Systems, 582
Release date: October 2006
First published: 2006
Authors: Jochen Andritzky
Dimensions: 235 x 155 x 16mm (L x W x T)
Format: Paperback
Pages: 251
Edition: 2006 ed.
ISBN-13: 978-3-540-37448-0
Categories: Books > Business & Economics > Finance & accounting > Finance > Public finance > General
Books > Money & Finance > Public finance > General
LSN: 3-540-37448-5
Barcode: 9783540374480

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