|
|
|
|
| LEADER |
02835nmm a2200625 u 4500 |
| 001 |
EB000931506 |
| 003 |
EBX01000000000000000725102 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
150128 ||| eng |
| 020 |
|
|
|a 9781455202133
|
| 100 |
1 |
|
|a Arezki, Rabah
|
| 245 |
0 |
0 |
|a Resource Windfalls and Emerging Market Sovereign Bond Spreads
|b The Role of Political Institutions
|c Rabah Arezki, Markus Bruckner
|
| 260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 2010
|
| 300 |
|
|
|a 11 pages
|
| 651 |
|
4 |
|a United States
|
| 653 |
|
|
|a Interest rates
|
| 653 |
|
|
|a Sovereign bonds
|
| 653 |
|
|
|a Optimal Taxation
|
| 653 |
|
|
|a Finance
|
| 653 |
|
|
|a Financial institutions
|
| 653 |
|
|
|a Financial services
|
| 653 |
|
|
|a Conflict
|
| 653 |
|
|
|a Commodity price shocks
|
| 653 |
|
|
|a Bureaucracy
|
| 653 |
|
|
|a General Financial Markets: General (includes Measurement and Data)
|
| 653 |
|
|
|a Investments: Bonds
|
| 653 |
|
|
|a Yield curve
|
| 653 |
|
|
|a Administrative Processes in Public Organizations
|
| 653 |
|
|
|a Financial markets
|
| 653 |
|
|
|a Corruption
|
| 653 |
|
|
|a Alliances
|
| 653 |
|
|
|a Emerging and frontier financial markets
|
| 653 |
|
|
|a Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
|
| 653 |
|
|
|a Bonds
|
| 653 |
|
|
|a Multiple or Simultaneous Equation Models: Models with Panel Data
|
| 653 |
|
|
|a Banks and Banking
|
| 653 |
|
|
|a Efficiency
|
| 653 |
|
|
|a Prices
|
| 653 |
|
|
|a Macroeconomics
|
| 653 |
|
|
|a Financial services industry
|
| 653 |
|
|
|a Commodity prices
|
| 653 |
|
|
|a Interest Rates: Determination, Term Structure, and Effects
|
| 653 |
|
|
|a Investment & securities
|
| 653 |
|
|
|a Conflict Resolution
|
| 653 |
|
|
|a Finance: General
|
| 653 |
|
|
|a Commodity Markets
|
| 700 |
1 |
|
|a Bruckner, Markus
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b IMF
|a International Monetary Fund
|
| 490 |
0 |
|
|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9781455202133.001
|
| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2010/179/001.2010.issue-179-en.xml?cid=24116-com-dsp-marc
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a We examine the effect that revenue windfalls from international commodity price shocks have on sovereign bond spreads using panel data for 30 emerging market economies during the period 1997-2007. Our main finding is that positive commodity price shocks lead to a significant reduction in the sovereign bond spread in democracies, but to a significant increase in the spread in autocracies. To explain our finding we show that, consistent with the political economy literature on the resource curse, revenue windfalls from international commodity price shocks significantly increased real per capita GDP growth in democracies, while in autocracies GDP per capita growth decreased
|