Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega

Recently, Latin American countries have experienced a series of upgrades in their sovereign credit ratings that are reflecting the region’s appeal for sovereign portfolio managers around the globe. Paradoxically, Latin American economies have shown strong economic fundamentals during the whole last...

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Autor Principal: Díaz Montenegro, Alexandra
Formato: Trabajo de grado (Bachelor Thesis)
Lenguaje:Desconocido (Unknown)
Publicado: 2013
Materias:
Acceso en línea:http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/285
id ir-p17054coll23-285
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spelling ir-p17054coll23-2852020-09-29 Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega Díaz Montenegro, Alexandra Recently, Latin American countries have experienced a series of upgrades in their sovereign credit ratings that are reflecting the region’s appeal for sovereign portfolio managers around the globe. Paradoxically, Latin American economies have shown strong economic fundamentals during the whole last decade and did not experienced any significant local common shock during 2009 - 2012, years in which credit agencies started upgrading the ratings of the region. Given these facts a valid question that springs up is which circumstances triggered the change in perception over the region’s creditworthiness during the last years. In this document I intend to explore a possible explanation to this change in risk perception, which consists in a positive wake–up-call contagion generated after the 2009 Greek debt crisis. The thesis will follow the methodology proposed in Giordano, Pericolli and Tomassino (2012), in which an analysis of contagion was conducted exclusively over developed European countries. Estimations show robust evidence of positive wake – up – call contagion towards the Latin American region. This outcome confirms that pricing of Latin American sovereign bonds in international financial markets is finally acknowledging the efforts of Latin American economies in correcting fiscal imbalances, implementing inflation targeting regimes and creating capital buffers to counter the effects of new coming local and international crises. Bonos soberanos; Crisis de deuda; Debt crisis; Europe Country risk; Mercado financiero; Riesgo país; Financial markets; Sovereign bonds Ciencias sociales; Ciencias sociales / Economía 2013 PDF Tesis ENG - Inglés América Latina; Europa Colfuturo © Derechos reservados del autor http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/285
institution Biblioteca Virtual Banco de la República - Colecciones digitales
collection Custom
language Desconocido (Unknown)
topic Bonos soberanos; Crisis de deuda; Debt crisis; Europe Country risk; Mercado financiero; Riesgo país; Financial markets; Sovereign bonds
Ciencias sociales; Ciencias sociales / Economía
spellingShingle Bonos soberanos; Crisis de deuda; Debt crisis; Europe Country risk; Mercado financiero; Riesgo país; Financial markets; Sovereign bonds
Ciencias sociales; Ciencias sociales / Economía
Díaz Montenegro, Alexandra
Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
description Recently, Latin American countries have experienced a series of upgrades in their sovereign credit ratings that are reflecting the region’s appeal for sovereign portfolio managers around the globe. Paradoxically, Latin American economies have shown strong economic fundamentals during the whole last decade and did not experienced any significant local common shock during 2009 - 2012, years in which credit agencies started upgrading the ratings of the region. Given these facts a valid question that springs up is which circumstances triggered the change in perception over the region’s creditworthiness during the last years. In this document I intend to explore a possible explanation to this change in risk perception, which consists in a positive wake–up-call contagion generated after the 2009 Greek debt crisis. The thesis will follow the methodology proposed in Giordano, Pericolli and Tomassino (2012), in which an analysis of contagion was conducted exclusively over developed European countries. Estimations show robust evidence of positive wake – up – call contagion towards the Latin American region. This outcome confirms that pricing of Latin American sovereign bonds in international financial markets is finally acknowledging the efforts of Latin American economies in correcting fiscal imbalances, implementing inflation targeting regimes and creating capital buffers to counter the effects of new coming local and international crises.
format Trabajo de grado (Bachelor Thesis)
author Díaz Montenegro, Alexandra
author_facet Díaz Montenegro, Alexandra
author_sort Díaz Montenegro, Alexandra
title Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
title_short Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
title_full Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
title_fullStr Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
title_full_unstemmed Positive wake–up–call contagion: New prospects for latin american bonds market after the greek debt crisis = Llamado de atencion a un contagio positivo: Nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
title_sort positive wake–up–call contagion: new prospects for latin american bonds market after the greek debt crisis = llamado de atencion a un contagio positivo: nuevas perspectivas para el mercado de bonos latinoamericanos después de la crisis de deuda griega
publishDate 2013
url http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/285
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