Sovereign Default Risk Valuation
Language: English
Published by Springer Berlin Heidelberg Okt 2006, 2006
Series: Book 20 of 126 - Lecture Notes in Economics and Mathematical Systems
- Softcover
- New
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, GermanyBuchWeltWeit Ludwig Meier e.K.
AbeBooks seller since January 11, 2012
Condition: New
£ 46.75
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Add to basketItem description from seller
Neuware -Past cycles of sovereign lending and default suggest that debt crises will recur at some point. This book shows why investors should reckon with similar credit events in the future. Surveying the sovereign bond market, the author provides investors with a useful toolkit for analyzing sovereign bonds and foreseeing trends in the international financial architecture. The result should be a better understanding of debt crises and more deliberate investment decisions. 268 pp. Englisch.
Seller Inventory # 9783540374480
- Title
- Sovereign Default Risk Valuation
- Author
- Jochen Andritzky
- Publisher
- Springer Berlin Heidelberg Okt 2006
- Publication year
- 2006
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 3540374485
- ISBN 13
- 9783540374480
- Item weight
- 411 grams
- Dimensions
- 235x155x15 mm
- Series
- Book 20 of 126: Lecture Notes in Economics and Mathematical Systems
Past cycles of sovereign lending and default in emerging markets suggest that debt crises will recur at some point. In addressing debt crises it has proven helpful to distinguish between situations of illiquidity and insolvency. Solutions range from a voluntary debt swap to a soft or hard restructuring. This book shows why investors should reckon with similar credit events in the future.
Insights gained from recent restructurings inspire the design of a valuation model for sovereign bonds. Using the distinction between hard and soft restructurings, the model draws parallels to the concepts of face value and market value recovery. An extension into credit default swap markets explains why bond and CDS spreads diverge during distress.
This survey of the sovereign bond market provides investors with a useful toolkit for analyzing sovereign bonds and foreseeing trends in the international financial architecture. The result should be a better understanding of debt crises and more deliberate investment decisions.
"Synopsis" may belong to another edition of this title.
Synopsis
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BuchWeltWeit Ludwig Meier e.K.
Bergisch Gladbach, Germany
AbeBooks seller since January 11, 2012
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