The geography of funding markets and limits to arbitrage

Name: The geography of funding markets and limits to arbitrage
Author: Buraschi, A., Menguturk, M., Şener, Emrah

İsim	The geography of funding markets and limits to arbitrage
Yazar	Buraschi, A., Menguturk, M., Şener, Emrah
Basım Tarihi:	2015-04
Basım Yeri	- Society for Financial Studies
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	1465-7368
Kayıt Numarası	28cc9c1a-2cb1-48e4-aed5-32ab27f29d9c
Lokasyon	Business Administration
Tarih	2015-04
Notlar	Due to copyright restrictions, the access to the full text of this article is only available via subscription.
Örnek Metin	We use the relative pricing of pairs of emerging market (EM) sovereign bonds issued in both dollars and euros to study capital markets frictions during periods of financial distress. During the 2007–2008 crisis, we find the emergence of large pricing anomalies in EM sovereign bond markets. Neither liquidity nor short-selling constraints can explain these persistent events. We use both cross-sectional and time-series information on these pricing anomalies to learn about specific geographical frictions in funding markets. We find support for explanations based on the interaction of banking capital-structure frictions and the fragility of wholesale funding markets. We document the effects of nonconventional policy interventions on this mispricing.
DOI	10.1093/rfs/hhu090
Cilt	28

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The geography of funding markets and limits to arbitrage

Yazar Buraschi, A., Menguturk, M., Şener, Emrah

Basım Tarihi 2015-04

Basım Yeri - Society for Financial Studies

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 1465-7368

Kayıt Numarası 28cc9c1a-2cb1-48e4-aed5-32ab27f29d9c

Lokasyon Business Administration

Tarih 2015-04

Notlar Due to copyright restrictions, the access to the full text of this article is only available via subscription.

Örnek Metin We use the relative pricing of pairs of emerging market (EM) sovereign bonds issued in both dollars and euros to study capital markets frictions during periods of financial distress. During the 2007–2008 crisis, we find the emergence of large pricing anomalies in EM sovereign bond markets. Neither liquidity nor short-selling constraints can explain these persistent events. We use both cross-sectional and time-series information on these pricing anomalies to learn about specific geographical frictions in funding markets. We find support for explanations based on the interaction of banking capital-structure frictions and the fragility of wholesale funding markets. We document the effects of nonconventional policy interventions on this mispricing.

DOI 10.1093/rfs/hhu090

Cilt 28