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Abstract Low debt and inflation, and higher growth reduce default risk. FX reserves do not matter for risk whenever CDS spreads are below the median. But higher FX buffers clearly… Click to show full abstract
Abstract Low debt and inflation, and higher growth reduce default risk. FX reserves do not matter for risk whenever CDS spreads are below the median. But higher FX buffers clearly reduce risk at the higher end of the sovereign risk spectrum.
Keywords:
risk;
role reserves;
premia emes;
limiting risk;
emes role;
risk premia
Journal Title: Economics Letters
Year Published: 2020
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2020
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!