Research and analysis using the BIS debt securities statistics

Publications featured on this page have been selected for their particular relevance to the BIS debt securities statistics. They include working papers and articles from BIS Quarterly Reviews.

Selected publications

Feb 2023

Overcoming original sin: insights from a new dataset
This paper introduces a new dataset on emerging market sovereign bonds, distinguishing between the currency of denomination and the residence of investors

Jun 2021

Corporate debt: post-GFC through the pandemic
Studies how non-financial corporate debt securities evolved from the Great Financial Crisis through Covid-19, including the role of offshore affiliates and global financial conditions

Jun 2021

Enhancing the BIS government bond statistics
The BIS publishes a new data set on government bonds issued by central and general governments, to track the evolution of bonds outstanding in domestic and foreign currencies

Sep 2017 Recent trends in EME government debt volume and composition
Reviews the doubling in outstanding government debt of emerging market economies since 2007
Jun 2017 The shifting drivers of global liquidity
Examines international debt securities issuance as the second main component of global liquidity together with international bank lending
Apr 2017  External debt composition and domestic credit cycles
Assesses the role of external debt in shaping the dynamics of domestic credit
Sep 2016 Domestic financial markets and offshore bond financing
Explores the reasons behind debt securities issuance by emerging economies in offshore centres
Dec 2015  Dollar credit to emerging market economies
Profiles the US dollar debt incurred by borrowers in emerging market economies and measures the dollar borrowing of non-bank residents
Apr 2015  BIS debt securities statistics: a comparison of nationality data with external debt statistics
Examines the extent to which IDS on a nationality basis are incorporated within components of external debt
Dec 2014  International bond issuance, cross-currency swaps and capital flows
Reviews tendency of EME companies to issue a US dollar-denominated bond on international markets and to swap the proceeds without repatriation
Sep 2014  Recent changes in global credit intermediation and potential risks
Analyses the shift of global credit intermediation from banks to debt securities markets
Mar 2014 Cross-border investments in global debt markets since the crisis
Investigates cross-border holdings in global debt securities markets
Sep 2013 Emerging market debt securities issuance in offshore centres
Examines why corporations from emerging market economies have increasingly turned to offshore financial centres to issue debt securities
Dec 2012 Enhancements to the BIS debt securities statistics
Explains how the BIS has revised its debt securities statistics to enhance their comparability across different markets
Jun 2007 Financial stability and local currency bond markets
Reviews the development of local currency bond markets and analyses aspects that could give rise to financial stability issues