How Long to Read Determinants of and Prospects for Market Access in Frontier Economies

How Long Does it Take to Read Determinants of and Prospects for Market Access in Frontier Economies?

It takes the average reader and 56 minutes to read Determinants of and Prospects for Market Access in Frontier Economies by Victor Hugo C. Alexandrino da Silva

Assuming a reading speed of 250 words per minute. Learn more

Description

In recent years, we have observed an increase in low-income countries’ (LICs) access to international capital markets, especially after the Global Financial Crisis (GFC). This paper investigates what factors—country-specific macroeconomic fundamentals and/or external variables—have contributed to the surge in external bond issuance by these LICs, which we refer to in our paper as ‘frontier economies’. Using data on public and publicly guaranteed (PPG) external bond issuance, outstanding PPG bond stock, as well as sovereign spreads, we employ panel data analysis to examine factors related to the increase in issuance by these economies as well as the reduction in their spreads over time. Our empirical study shows that both country-specific fundamentals (such as public debt, current account balance, level of reserves, quality of institutions) and external variables (such as US growth and the VIX index) play a role in explaining the increased amount of issuance and the decline in spreads of frontier economies’ sovereign bonds. The impact of some of these variables on issuance appears to reflect a country’s need to issue bonds for external financing (‘the supply side’ of bond issuance), while others appear to correlate more through their impact on investors’ appetite for a country’s debt (‘the demand side’). In addition, the impact of country-specific variables can also be affected by external factors such as global risk appetite. Our analysis of key factors that have contributed to increased market access for frontier economies over the past decade provides important information to gauge the prospects for their continued market access, and for other LICs to join this group by tapping international markets for the first time.

How long is Determinants of and Prospects for Market Access in Frontier Economies?

Determinants of and Prospects for Market Access in Frontier Economies by Victor Hugo C. Alexandrino da Silva is 55 pages long, and a total of 14,025 words.

This makes it 19% the length of the average book. It also has 17% more words than the average book.

How Long Does it Take to Read Determinants of and Prospects for Market Access in Frontier Economies Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 16 minutes to read Determinants of and Prospects for Market Access in Frontier Economies aloud.

What Reading Level is Determinants of and Prospects for Market Access in Frontier Economies?

Determinants of and Prospects for Market Access in Frontier Economies is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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