Data transparency and sovereign financing conditions

Jesus Gonzalez-Garcia ()
Additional contact information
Jesus Gonzalez-Garcia: International Monetary Fund

Empirical Economics, 2024, vol. 66, issue 4, No 11, 1735-1755

Abstract: Abstract This paper provides novel evidence on the link between transparency through dissemination of economic data and financing conditions in international capital markets. It explores changes in sovereign financing conditions when countries join the International Monetary Fund Data Standards Initiatives—a multilateral framework that promotes data transparency as a global public good. The results from event studies and local projection methods suggest a significant decrease in sovereign spreads following the adoption of the standards. In addition, countries with relatively weaker governance benefit the most from signaling their effort toward strengthening transparency.

Keywords: Data transparency; IMF data standards initiatives; Sovereign borrowing; EMBIG spreads; Event studies; Local projection methods; Governance (search for similar items in EconPapers)
JEL-codes: F30 G10 G20 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00181-023-02498-4 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:empeco:v:66:y:2024:i:4:d:10.1007_s00181-023-02498-4

Ordering information: This journal article can be ordered from
http://www.springer. ... rics/journal/181/PS2

DOI: 10.1007/s00181-023-02498-4

Access Statistics for this article

Empirical Economics is currently edited by Robert M. Kunst, Arthur H.O. van Soest, Bertrand Candelon, Subal C. Kumbhakar and Joakim Westerlund

More articles in Empirical Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().