Historical Experience with Bond Financing to Developing Countries

By Thomas Laursen, Juan Jose Fernandez-Ansola

March 1, 1995

Preview Citation

Format: Chicago

Thomas Laursen, and Juan Jose Fernandez-Ansola. Historical Experience with Bond Financing to Developing Countries, (USA: International Monetary Fund, 1995) accessed September 19, 2024

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.

Subject: Bonds, Financial institutions, Financial markets, International capital markets

Keywords: Asia and Pacific, Bond, Bond default, Bond financing, Bond offer, Bond placement, Bond restructuring, Bonds, Dollar, Dollar bond, Eastern Europe, Financing, International capital markets, North America, Paying agent, Stabilization bond, U.S. dollar, WP, Yield

Publication Details

Pages:

16
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1995/027
Stock No:

WPIEA0271995
ISBN:

9781451844467
ISSN:

1018-5941

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