Abstract
This chapter describes the process of start-up of the secondary market for government bank debt, with focus on Latin America. It then demonstrates the factors that contribute to determining market prices of this debt in the early years of the market (to 1991). Next, the last five years of the market are analyzed to demonstrate the factors that have contributed most to determining debt prices in the more standardized and more homogenized current market conditions. The comparison of the two time periods provides interesting insights into the development of this market.
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Grosse, R. (2001). The Secondary Market for Latin American Debt. In: Jacque, L.L., Vaaler, P.M. (eds) Financial Innovations and the Welfare of Nations. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-1623-1_6
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DOI: https://doi.org/10.1007/978-1-4615-1623-1_6
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