Work

Financial Distress and Access to Capital in Emerging Markets

Year: 2010

Type: article

Abstract: In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis. I focus on three components of the reaccess strategy: commitment to pay, ability to pay, and global liquidity. I employ a panel of 49 countries over a nearly 30-year period and apply a simple probit approach to show that, indeed, a sound external position and a sustainable debt profile, accompanied by a favorable global liquidity environment, are the key considerations for creditors considering whether to resume lending.

Source: Prague Economic Papers

DOI: 10.18267/j.pep.361

Author: Jorge Guillen

Institution: Esan University

Language: English

Topic: Global Financial Crisis and Policies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Partnerships for the goals, Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W2139697955