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RESEARCH PRODUCT

Spreads of bonds issued by sub-sovereign European governments

Leandro García MenéndezNicolas Jannone BellotMaría Luisa Martí Selva

subject

Economics and EconometricsECONOMIA APLICADAPrimary marketFinancial economicsSpreadMercado primarioPrimary marketFinancial systemSecondary marketSovereigntyDiferencialManagement of Technology and InnovationBond spreads0502 economics and businesslcsh:AZ20-999ddc:650Economics050207 economicsBusiness and International Managementlcsh:Social sciences (General)G12Panel dataMarketingEstimationG18050208 financeBond05 social sciencesG15Secondary marketlcsh:History of scholarship and learning. The humanitiesVariable (computer science)lcsh:H1-99Panel data

description

[EN] This paper identifies the factors that affect the spread of fixed and variable type bonds in the primary and secondary markets issued by sub-sovereign European governments. The analyses of both markets will be done separately to compare whether the determinants in the primary market coincide with those in the secondary market. The analyses will examine the period between February 2008 and December 2013 using data panel estimations. The conclusions are that both markets are approximately identical behavior and the signs of the variables matched what was expected in nearly every case. Also, we concluded that the most important in determining the spread sub-sovereign variable is the spread of the sovereign state.

yearjournalcountryeditionlanguage
2017-09-01
10.1016/j.jik.2016.10.002https://hdl.handle.net/10419/190722