- Tytuł:
- Modern Trends In GDP-Linked Securities Design
- Autorzy:
-
Amalian, Arutyun W.
Amalyan, Nataly D. - Powiązania:
- https://bibliotekanauki.pl/articles/1403605.pdf
- Data publikacji:
- 2020
- Wydawca:
- Wyższa Szkoła Ekonomiczno-Humanistyczna w Bielsku-Białej
- Tematy:
-
GDP-linked bonds
warrants
moral hazard
debt restructuring
cap
hair-cut - Opis:
- Numerous research papers substantiate the idea that GDP-linked bonds could provide a potential means for indebted countries to avoid default (the cost of which to be measured by an endowment loss and temporary exclusion from capital markets) by linking current reduction of the total outstanding debt with liabilities to share future gains of growth of national economy. Actualization of this idea has already taken place in a dozen of countries. This article presents comparative analysis of background, terms and condition of the last three cases of GDP-indexed bonds emission – by Argentina, Greece and Ukraine. Commensuration of the share of haircut, threshold for payments and availability of the cap provides for detection of trends in the design of these debt instruments.
- Źródło:
-
MIND Journal; 2020, 9; 1-14
2451-4454 - Pojawia się w:
- MIND Journal
- Dostawca treści:
- Biblioteka Nauki