01801cas a2200265 a 4500 AALejournalIMF002821 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843033 1018-5941 BD-DhAAL BD-DhAAL Zettelmeyer, Jeromin. How Private Creditors Fared in Emerging Debt Markets, 1970-2000 / Jeromin Zettelmeyer, Beatrice Weder, Christoph Klingen. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (60 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on World Bank data. From 1970-2000, returns averaged 9 percent per annum, about the same as returns on a ten-year U.S. treasury bond. This reflects the combined effect of the 1980s debt crisis and much higher returns during 1989-2000. Annual returns since 1986 have been less volatile than emerging market equity returns but more volatile than returns on U.S. corporate or high-yield bonds. However, unlike returns on these bonds, emerging market debt returns do not seem significantly correlated with U.S. or world stock markets. Mode of access: Internet Klingen, Christoph. Weder, Beatrice. IMF Working Papers; Working Paper ; No. 2004/013 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/013/001.2004.issue-013-en.xml IMF e-Library