406
Views
3
CrossRef citations to date
0
Altmetric
Articles

Credit risk and bond pricing of local government in China

, &

References

  • Altman, E. I. (1990). The High-Yield Debt Market. Dow Jones-Irwin.
  • Arghyrou, M. G., & Kontonikas, A. (2012). The EMU sovereign-debt crisis. Journal of International Financial Markets, 22(4), 658–677. doi: 10.1016/j.intfin.2012.03.003
  • Booth, L., Georgopoulos, G., & Hejazl, W. (2007). What drives provincial Canada yield spreads? Canadian Journal of Economics/Revue Canadienne Déconomique, 40(3), 1008–1032. doi: 10.1111/j.1365-2966.2007.00440.x
  • Campbell, J., & Taksler, G. (2003). Equity volatility and corporate bond yields. Journal of Finance, 58(6), 2321–2349. doi: 10.1046/j.1540-6261.2003.00607.x
  • Capeci, J. (1994). Local fiscal policies, default risk, and municipal borrowing costs. Journal of Public Economics, 53(1), 73–89. doi: 10.1016/0047-2727(94)90014-0
  • Chen, L., Lesmond, D. A., & Wei, J. (2007). Corporate yield spreads and bond liquidity. Journal of Finance, 62(1), 119–149. doi: 10.1111/j.1540-6261.2007.01203.x
  • Fang, H. X., Shi, J. K., & Zhang, G. B. (2013). Ownership type, information quality, and corporate bond pricing. Journal of Financial Research, 4, 170–182.
  • Guha, D., & Hiris, L. (2002). The aggregate credit spreads and the business cycle. International Review of Financial Analysis, 11(2), 219–227. doi: 10.1016/S1057-5219(02)00075-3
  • Lemmen, J. G., & Charles, A. E. (1999). Credit risks and European government bond markets: A panel data econometric analysis. Eastern Economic Journal, 25(1), 77–107.
  • Li, L. S., Geng, X. Y., & Zheng, J. (2013). Risk assessment of local government debt in China. Statistical Research, 30(10), 30–39.
  • Ling, Z. H., Fei, Z. N., & Zhang, L. (2017). Risk premium of Chinese local government bond. Journal of Capital University of Economics and Business, 1, 12–17.
  • Liu, P., & Thakor, A. V. (1984). Interest yields, credit ratings and economic characteristics of state bonds. Journal of Money Credit, and Banking, 16(3), 344–351. doi: 10.2307/1992222
  • Luo, R. H., & Chen, L. (2013). Yields, credit ratings, and bond characteristics. Paper presented at the Asian Finance Association conference.
  • Massimo, P. (2015). An empirical analysis of the municipal bond market in Italy. Public Budgeting and Finance, 35(3), 68–94. doi: 10.1111/pbaf.12061
  • Nie, X. W. (2016). Government credit, local debt risk and the suggestion of constructing the government credit index system. Public Finance Research, 3, 15–26.
  • Ronald, B., David, R., & Paul, B. (2004). The impact of stock market volatility on corporate bond credit spreads. Mathematics and Computers in Simulation, 64(3–4), 363–372. doi: 10.1016/S0378-4754(03)00102-2
  • Schuknecht, L., Hagen, J. V., & Wolswijk, G. (2009). Government risk premiums in the bond market: EMU and Canada. European Journal of Political Economy, 25(3), 371–384. doi: 10.1016/j.ejpoleco.2009.02.004
  • Wen, L. C., & Liu, H. F. (2016). Construction and application of Chinese local government credit rating system. Journal of Central University of Finance & Economics, 9, 11–19.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.