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Bond Markets in Latin AmericaOn the Verge of a Big Bang?$
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Eduardo Borensztein, Kevin Cowan, Barry Eichengreen, and Ugo Panizza

Print publication date: 2008

Print ISBN-13: 9780262026321

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262026321.001.0001

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 11 April 2021

Corporate Bond Markets in Argentina

Corporate Bond Markets in Argentina

Chapter:
(p.89) 4 Corporate Bond Markets in Argentina
Source:
Bond Markets in Latin America
Author(s):

Roque B. Fernández

Sergio Pernice

Jorge M. Streb

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262026321.003.0004

This chapter analyzes the development of the Argentine corporate bond markets. Econometric and survey results show that only large firms use bond finance. The study also suggests that seeking a ratio of bond market to gross domestic product similar to that of high-income countries is an inappropriate objective. These ratios are misleading as a measure of bond market development, and providing incentives to reach ratios similar to those of the high-income countries would lead to inefficiencies if bond markets were the ideal financing vehicle only for large corporations.

Keywords:   Argentine bond markets, corporate debt, gross domestic product, financing, large corporations

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