The Term-Structure of Sovereign Default Risk in Colombia and its Determinants

Borradores de Economia
Number: 
709
Published: 
Classification JEL: 
F34, G15, F37
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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We study the determinants of sovereign default risk in Colombia by focusing on different time spans of risk which are indicated by yield spreads of government bonds with different maturities. Cointegration regressions are performed to analyze whether the