Historical Experience with Bond Financing to Developing Countries

Author/Editor:

Thomas Laursen ; Juan Jose Fernandez-Ansola

Publication Date:

March 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The paper reviews the historical experience of developing countries with bond issues in international markets in order to put the recent wave of bond financing by these countries in some perspective. It examines developments in the early part of this century and during the mid-1970s and early 1980s. The sources and the role played by bond financing during these periods are discussed. The payments problems associated with these bonds that emerged during the 1930s and during the latter half of the 1980s and the ways in which these problems were resolved are also examined.

Series:

Working Paper No. 1995/027

Subject:

Bonds Financial institutions Financial markets International capital markets

English

Publication Date:

March 1, 1995

ISBN/ISSN:

9781451844467/1018-5941

Stock No:

WPIEA0271995

Pages:

16

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