Debt Specialization In The Nordic

Abstract

This paper presents a comprehensive comparative analysis of the Nordic public debt market and the U.S. public debt market. By examining key firm characteristics that help explain trends in debt specialization, we provide insights into the similarities and differences between these debt markets. Through a quantitative analysis of historical data we discover these contrasts and disclose possible economic reasons for them. In turn, this paper shows that research on debt specialization in the U.S. is not universally correct outside the U.S. Hence, this paper further delve into country and industry specific sections to uncover how debt specialization appears in the Nordic. We conclude that the debt specialization within the Nordic at all levels shows preference to term loans opposed to the American preference for Bonds & Notes, possibly explained by market structure and size differences.