What Drives Sovereign Debt Maturity in European Countries?

Panoeconomicus, vol. 65, núm. 2, págs. 137-161. I.S.S.N.: 1452-595X, 2018

Posted: 18 Jun 2019

Date Written: 2018

Abstract

The aim of this paper is to study the determinants of sovereign debt maturity for 23 European countries during the period between 1995 and 2013. For this purpose, we use quantile regressions with robust standard errors clustered by countries to consider the impact of the determinants in the entire distribution. The results indicate a positive relation between the level of debt of the country and sovereign debt maturity, particularly for countries with the lowest debt maturity. We also find evidence of a negative relationship between sovereign risk and debt maturity for the lowest and intermediate values of the debt maturity.

Keywords: Sovereign debt maturity, Quantile regressions, Debt, Sovereign risk

JEL Classification: G12, G15, H63

Suggested Citation

González-Fernández, Marcos and González-Velasco, Carmen, What Drives Sovereign Debt Maturity in European Countries? (2018). Panoeconomicus, vol. 65, núm. 2, págs. 137-161. I.S.S.N.: 1452-595X, 2018, Available at SSRN: https://ssrn.com/abstract=3400321

Marcos González-Fernández

Universidad de León ( email )

Leon, 24071
Spain

Carmen González-Velasco (Contact Author)

Universidad de León ( email )

Leon, 24071
Spain

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