Non-banks key to ‘absorbing’ sovereign debt – BIS paper
New database of key players in sovereign debt markets reveals EME reliance on non-banks
Non-banks play a key role in “absorbing” increases in sovereign debt, especially for emerging market economies (EMEs), research published by the Bank for International Settlements finds.
Authors Xiang Fang, Bryan Hardy and Karen Lewis built a new database of sovereign debt investors, splitting the data into six groups – bank/non-bank/official sector, each divided into domestic and foreign firms. They compiled data for 95 countries spanning 20 years.
Their working paper highlights how non-banks
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