cam a22 2 b4500 530123509 CHVBK 20201027043856.0 m d cr |n |||||||| 130723e20101201dcu s|||| 0 |eng|d 978-1-4552-1090-9 1-4552-1090-0 (Trade Paper) : USD 18.00 Retail Price (Publisher) (SERSOL)ssj0001474052 (WaSeSS)ssj0001474052 BIP US WaSeSS Tereanu Eugen Author The Cost of Private Debt over the Credit Cycle [Elektronische Daten] Washington International Monetary Fund Dec. 2010 1 online resource (25 p.) Free full text available for some or all content. Article availability is subject to change without notice, according to publisher decision. Die Verfügbarkeit der Online-Ressourcen ist Entscheidung des Verlags oder des Urhebers und kann ohne vorherige Ankündigung geändert werden. Annotation We identify global and regional fluctuations in international private debt flows to emerging and developing countries using data on cross border loans and international bond issuance over 1993 -2009. We estimate the effects of individual borrower characteristics as well as macroeconomic conditions on the cost of foreign borrowing and test whether these effects differ across phases of the lending cycle. We find that public and financial institutions benefit from lower spreads compared to private and nonfinancial firms and that lenders may differentiate the risk associated with the borrower's industrial sector between good and bad times. the loan (bond) rating has an equally robust spread reduction effect across credit cycle phases. the results also suggest that international reserve holdings and investment ratios have a significant effect on reducing credit spreads for loans, while higher reserve holdings and longer maturities matter more for bond spreads. Francis Johanna L. Author Aykut Dilek Author http://elibrary.imf.org/view/IMF001/11518-9781455210909/11518-9781455210909/11518-9781455210909.xml Volltext frei zugänglich BK020053 XK020053 XK020000 IMF E-Library E-Books von 360MarcUpdates IDSBB FREE FREE OL NELFREE2004 IDSBB 100 1- Tereanu Eugen Author IDSBB 700 1- Francis Johanna L. Author IDSBB 700 1- Aykut Dilek Author IDSBB 856 40 http://elibrary.imf.org/view/IMF001/11518-9781455210909/11518-9781455210909/11518-9781455210909.xml Volltext frei zugänglich SWISSBIB 488109469