%0 Journal Article %T CHARACTERISTICS OF CREDIT DEFAULT SWAPS AND DEVELOPMENT OF 5 YEAR CDS PRICES OF PORTUGAL AND SELECTED COUNTRIES %A £¿ubom¨ªr Pinter %A Em¨ªlia Zimkov¨¢ %J Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice %D 2012 %I Vasile Goldis University Press %X In the article we will try to define a credit default swap (CDS), while paying attention to the comparison of CDS with the insurance product. In the next section we will describe the developments in 5 year CDS prices of selected countries, with particular focus on Portugal. Also, we will realize a comparison of CDS and we will point out the development in prices of 5Y CDS in 2012, as well as their practical interpretation. %K credit %K financial market %K debt %U http://www.uvvg.ro/studiaeconomia/images/2012/p2/6.Lubomir%20Pinter,%20Emilia%20Zimkova%20-%20CHARACTERISTICS%20OF%20CREDIT.pdf