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There's also increased risk aversion on the part of private sector investors; countries with weaker political institutions will likely be hit harder by tightening credit conditions [2/n] (eg. https://t.co/0vwv7bXsRM https://t.co/4iJfB6o1Q1
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PS: If you're interested in whether governments issue bonds at all, also see "BMW1" [Short answer: domestic institutions & int'l market conditions both matter] [end] https://t.co/pKKfK09xu0
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