Historical Experience with Bond Financing to Developing Countries
March 1, 1995
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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
Pages:
16
Volume:
1995
DOI:
Issue:
027
Series:
Working Paper No. 1995/027
Stock No:
WPIEA0271995
ISBN:
9781451844467
ISSN:
1018-5941
