Front Matter Page
European Department
Authorized for distribution by Ashoka Mody
Contents
Abstract
I. Introduction
II. Database and Stylized Facts
A. Database
B. Stylized Facts
III. Econometric Analysis and Results
A. Determinants of Total Issuance
B. Determinants of Issuance Composition
IV. Conclusion
References
Tables
1. Changes in the Structure of Sovereign Borrowing
2A. Determinants of Total Debt Issuance
2B. Determinants of Total Debt Issuance—Exploring Heterogeneity
3A. Determinants of Auction Share in Total Issuance—Censored Tobit Estimation
3B. Determinants of Auction Share in Total Issuance—Exploring Heterogeneity
4A. Determinants of DLTF Issuance—Censored Tobit Estimation
4B. Determinants of DLTF Issuance—Exploring Heterogeneity
Appendix Tables
A1. Changes in Total Debt Issuance
A2. Changes in Number of Issues
A3. Changes in Average Size of Issue
A4. Variable Definitions and Sources
Annex
Determinants of Total Debt Issuance—Estimated in Levels