Low-Income Countries’ Access to Private Debt Markets

Hostland, Doug

dc.creator	Hostland, Doug
dc.date	2012-03-19T19:08:36Z
dc.date	2012-03-19T19:08:36Z
dc.date	2009-01-01
dc.date.accessioned	2023-02-17T21:07:52Z
dc.date.available	2023-02-17T21:07:52Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090130150450
dc.identifier	http://hdl.handle.net/10986/4026
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244996
dc.description	Private debt flows to developing countries surged to record levels over the period 2003-07. A few low-income countries have gained access to the international bond market but the bulk of the flows have continued to go to just a few large middle-income countries. Most low-income countries still heavily depend on concessional loans and grants from the official sector to meet their financing needs. The paper provides an overview of low-income countries' access to cross-border bank lending and bond issuance in the international market over the past few decades. It highlights some stylized facts that characterize salient features of low-income countries' experience in external borrowing from the private sector and discusses the various factors that influence governments' and corporations' decisions to seek external financing along with creditors' decisions to provide the financing. The paper concludes by assessing the prospects for low-income countries' access to private debt markets over the medium term.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 4829
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ASSET CLASS
dc.subject	ASYMMETRIC INFORMATION
dc.subject	AVAILABILITY OF CREDIT
dc.subject	AVERAGE DEBT
dc.subject	BALANCE OF PAYMENTS
dc.subject	BANK LENDING
dc.subject	BANK LOAN
dc.subject	BANK LOANS
dc.subject	BASIS POINTS
dc.subject	BINDING CONSTRAINT
dc.subject	BOND INDEXES
dc.subject	BOND ISSUANCE
dc.subject	BOND ISSUE
dc.subject	BOND ISSUES
dc.subject	BOND SPREAD
dc.subject	BOND SPREADS
dc.subject	BONDS
dc.subject	BORROWING REQUIREMENTS
dc.subject	BUDGET DEFICITS
dc.subject	BUSINESS CLIMATE
dc.subject	CALCULATION
dc.subject	CAPITAL ACCOUNTS
dc.subject	CAPITAL FLOW
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOWS
dc.subject	CENTRAL GOVERNMENT DEBT
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMMERCIAL TERMS
dc.subject	COMMODITY
dc.subject	COMMODITY PRICES
dc.subject	CORPORATE BOND
dc.subject	CORPORATE BOND ISSUANCE
dc.subject	CORPORATE BONDS
dc.subject	CREDIT RATING
dc.subject	CREDIT RATINGS
dc.subject	CREDIT RATIONING
dc.subject	CREDIT-RATING AGENCIES
dc.subject	CREDITORS
dc.subject	CURRENCY CRISES
dc.subject	CURRENT ACCOUNT
dc.subject	CURRENT ACCOUNT DEFICITS
dc.subject	DEBT BURDEN
dc.subject	DEBT BURDENS
dc.subject	DEBT CRISES
dc.subject	DEBT CRISIS
dc.subject	DEBT DEFAULT
dc.subject	DEBT INSTRUMENTS
dc.subject	DEBT ISSUANCE
dc.subject	DEBT LEVELS
dc.subject	DEBT MANAGEMENT
dc.subject	DEBT OUTSTANDING
dc.subject	DEBT RELIEF
dc.subject	DEBT SECURITIES
dc.subject	DEBT SUSTAINABILITY
dc.subject	DEBTOR
dc.subject	DEBTOR REPORTING SYSTEM
dc.subject	DEBTORS
dc.subject	DEFAULT RISK
dc.subject	DEFAULTS
dc.subject	DERIVATIVE
dc.subject	DERIVATIVE MARKETS
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPMENT BANK
dc.subject	DISBURSEMENTS
dc.subject	DOMESTIC BORROWING
dc.subject	DOMESTIC CAPITAL
dc.subject	DOMESTIC CAPITAL MARKETS
dc.subject	DOMESTIC CURRENCY
dc.subject	DOMESTIC DEBT
dc.subject	DOMESTIC DEBT MARKETS
dc.subject	DOMESTIC FINANCIAL MARKET
dc.subject	DOMESTIC FINANCIAL MARKETS
dc.subject	DOMESTIC INTEREST RATES
dc.subject	DOMESTIC MARKET
dc.subject	DOMESTIC MARKETS
dc.subject	ECONOMIC POLICIES
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET BOND
dc.subject	EMERGING MARKET COUNTRIES
dc.subject	EMERGING MARKET DEBT
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	EQUITY FLOWS
dc.subject	EQUITY ISSUANCE
dc.subject	EQUITY MARKETS
dc.subject	EUROBOND
dc.subject	EXTERNAL BORROWING
dc.subject	EXTERNAL DEBT
dc.subject	EXTERNAL FINANCE
dc.subject	EXTERNAL FINANCING
dc.subject	FEDERAL RESERVE
dc.subject	FEDERAL RESERVE BANK
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL FLOWS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SECTOR DEVELOPMENT
dc.subject	FINANCIAL STABILITY
dc.subject	FISCAL POLICY
dc.subject	FLEXIBLE EXCHANGE RATE
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN INVESTORS
dc.subject	FUND MANAGERS
dc.subject	GLOBAL CAPITAL
dc.subject	GLOBAL CAPITAL MARKETS
dc.subject	GLOBAL FINANCIAL STABILITY
dc.subject	GLOBALIZATION
dc.subject	GOVERNMENT BOND
dc.subject	GOVERNMENT BOND YIELDS
dc.subject	GOVERNMENT DEBT
dc.subject	IMPLICIT INTEREST
dc.subject	INCOME LEVEL
dc.subject	INCOME LEVELS
dc.subject	INCOME SOURCE
dc.subject	INCOMES
dc.subject	INFLATION
dc.subject	INFLATION RATES
dc.subject	INFORMATION CONSTRAINTS
dc.subject	INSTITUTIONAL INVESTORS
dc.subject	INSURANCE
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BOND
dc.subject	INTERNATIONAL BOND MARKET
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL CAPITAL MARKETS
dc.subject	INTERNATIONAL DEBT
dc.subject	INTERNATIONAL DEBT MARKET
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INTERNATIONAL FINANCIAL INTEGRATION
dc.subject	INTERNATIONAL FINANCIAL MARKETS
dc.subject	INTERNATIONAL FINANCIAL STATISTICS
dc.subject	INTERNATIONAL INTEREST
dc.subject	INTERNATIONAL MARKET
dc.subject	INTERNATIONAL MARKETS
dc.subject	INVESTMENT BANKS
dc.subject	INVESTMENT CLIMATE
dc.subject	INVESTMENT FUNDS
dc.subject	INVESTMENT OPPORTUNITIES
dc.subject	INVESTOR BASE
dc.subject	INVESTOR CONFIDENCE
dc.subject	LEVY
dc.subject	LIQUIDITY
dc.subject	LOAN TRANSACTIONS
dc.subject	LONG-TERM LOANS
dc.subject	LOW INCOME
dc.subject	LOW INTEREST RATES
dc.subject	LOW- INCOME
dc.subject	LOW-INCOME
dc.subject	LOWER INCOME
dc.subject	MACROECONOMIC DATA
dc.subject	MACROECONOMIC ENVIRONMENT
dc.subject	MACROECONOMIC INSTABILITY
dc.subject	MACROECONOMIC VOLATILITY
dc.subject	MARKET ACCESS
dc.subject	MARKET CONDITIONS
dc.subject	MARKET INTEREST RATES
dc.subject	MARKET LIQUIDITY
dc.subject	MARKET PARTICIPANTS
dc.subject	MATURITIES
dc.subject	MATURITY
dc.subject	MATURITY STRUCTURE
dc.subject	MONETARY FUND
dc.subject	MONEY MARKET
dc.subject	MORAL HAZARD
dc.subject	MUTUAL FUNDS
dc.subject	OUTSTANDING DEBT
dc.subject	PENSION
dc.subject	PORTFOLIO
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE CAPITAL INFLOWS
dc.subject	PRIVATE CREDIT
dc.subject	PRIVATE CREDITORS
dc.subject	PRIVATE DEBT
dc.subject	PRIVATE DEBT FLOWS
dc.subject	PRIVATE DEBT MARKET
dc.subject	PRIVATE DEBT MARKETS
dc.subject	PRIVATE EQUITY
dc.subject	PRIVATE PLACEMENT
dc.subject	PRIVATE SECTOR CREDIT
dc.subject	PROFITABLE INVESTMENT
dc.subject	PUBLIC BANK
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC INVESTMENT
dc.subject	PUBLIC SECTOR BORROWING
dc.subject	REMITTANCES
dc.subject	REPUDIATION
dc.subject	RESEARCH ASSISTANCE
dc.subject	RESERVES
dc.subject	RETURNS
dc.subject	RISK OF DEFAULT
dc.subject	SAVINGS
dc.subject	SHORT-TERM DEBT
dc.subject	SOVEREIGN BOND
dc.subject	SOVEREIGN BONDS
dc.subject	SOVEREIGN DEBT
dc.subject	SOVEREIGN ISSUE
dc.subject	SOVEREIGN ISSUERS
dc.subject	SOVEREIGN ISSUES
dc.subject	TOTAL DEBT
dc.subject	TRADE FINANCING
dc.subject	TRANSACTIONS COSTS
dc.subject	TREASURY
dc.subject	TREASURY BILL
dc.subject	TREASURY BILLS
dc.subject	TREASURY BONDS
dc.subject	VALUABLE
dc.title	Low-Income Countries’ Access to Private Debt Markets
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region