Title
Predictability of secondary-market developing-country debt prices
Publication Date
1-1-1993
Publication Name
Applied Economics
Volume
25
Issue
10
First Page
1365
Last Page
1371
Source Full Text URL
https://doi.org/10.1080/00036849300000105
Document Type
Article
DOI
10.1080/00036849300000105
Abstract
This paper examines the predictability of secondary-market prices for sovereign debt instruments issued by Colombia, Ecuador and Venezuela. Monthly time series observations for each economy are utilized in a seemingly unrelated regression framework. Econometric analysis includes both in-sample and out-of-sample modelling and forecasting results. Only data available to financial markets are included in the extrapolation analysis. Theil inequality coefficients are reported for the simulation tests. © 1993 Chapman & Hall Ltd. All rights reserved.
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