Emerging Markets Bond Index Performance and Sovereign Default: The Case of Ecuador
Wladimir Zanoni,
Emily Díaz,
Jorge Paredes
et al.
Abstract:This paper delves into the dynamic impact of Ecuador's 2008 sovereign debt default on the subsequent performance of the country's bonds, specifically as measured by the Emerging Markets Bond Index (EMBI). Through a blend of qualitative and quantitative analyses, the paper develops a framework for understanding the interplay between macroeconomic and political fundamentals, global liquidity dynamics, and investor behaviors. Employing a synthetic control method, the study assesses the default's impact on Ecuador… Show more
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