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dc.contributor.authorCumby, R. E.en_US
dc.contributor.authorPastine, T.en_US
dc.date.accessioned2016-02-08T10:34:34Z
dc.date.available2016-02-08T10:34:34Z
dc.date.issued2001en_US
dc.identifier.issn0261-5606
dc.identifier.urihttp://hdl.handle.net/11693/24801
dc.description.abstractWe investigate the pricing of 'Brady' bonds that are issued by the governments of five developing countries as part of debt and debt service reduction agreements. We first present a measure of credit quality that takes account of the individual features of each bond and is comparable across bonds, across issuers, and over time. We then examine the evolution of the credit quality of each debt instrument from 1990 until the beginning of 2000. Next, we present evidence of a profitable trading strategy that exploits the information contained in this measure of credit quality. © 2001 Elsevier Science Ltd.en_US
dc.language.isoEnglishen_US
dc.source.titleJournal of International Money and Financeen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/S0261-5606(01)00018-3en_US
dc.subjectBrady bondsen_US
dc.subjectCredit risken_US
dc.subjectEmerging market debten_US
dc.subjectF32en_US
dc.subjectF34en_US
dc.titleEmerging market debt: Measuring credit quality and examining relative pricingen_US
dc.typeArticleen_US
dc.departmentDepartment of Economics
dc.citation.spage591en_US
dc.citation.epage609en_US
dc.citation.volumeNumber20en_US
dc.citation.issueNumber5en_US
dc.identifier.doi10.1016/S0261-5606(01)00018-3en_US
dc.publisherElsevieren_US


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