Emerging Market Risk And Sovereign Credit Ratings
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Author | : Laura Jaramillo |
Publisher | : International Monetary Fund |
Total Pages | : 19 |
Release | : 2011-03-01 |
Genre | : Business & Economics |
ISBN | : 1455218987 |
Download Sovereign Credit Ratings and Spreads in Emerging Markets Book in PDF, Epub and Kindle
Sovereign investment grade status is often associated with lower spreads in international markets. Using a panel framework for 35 emerging markets between 1997 and 2010, thispaper finds that investment grade status reduces spreads by 36 percent, above and beyond what is implied by macroeconomic fundamentals. This compares to a 5-10 percent reduction in spreads following upgrades within the investment grade asset class, and no impact formovements within the speculative grade asset class, ceteris paribus. While global financial conditions play a central role in determining spreads, market sentiment improves with lower external public debt to GDP levels and higher domestic growth rates.
Author | : Guillermo Larraín |
Publisher | : |
Total Pages | : 44 |
Release | : 1997 |
Genre | : Bonds |
ISBN | : |
Download Emerging Market Risk and Sovereign Credit Ratings Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1997 |
Genre | : |
ISBN | : |
Download Emerging Market Risk and Sovereign Credit Ratings Book in PDF, Epub and Kindle
Author | : Helmut Reisen |
Publisher | : |
Total Pages | : 32 |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Sovereign Credit Ratings, Emerging Market Risk and Financial Market Volatility Book in PDF, Epub and Kindle
Author | : Graciela Laura Kaminsky |
Publisher | : World Bank Publications |
Total Pages | : 35 |
Release | : 2001 |
Genre | : Contagio financiero |
ISBN | : |
Download Emerging Markets Instability Book in PDF, Epub and Kindle
Changes in sovereign ratings affect country risk and stock returns. And these changes are transmitted across countries, with neighbor-country effects being more significant.
Author | : Roman Kräussl |
Publisher | : |
Total Pages | : 220 |
Release | : 2003 |
Genre | : Credit ratings |
ISBN | : 9783831426102 |
Download Sovereign Risk, Credit Ratings and the Recent Financial Crisis in Emerging Markets Book in PDF, Epub and Kindle
Author | : Amadou N. R. Sy |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2001 |
Genre | : Bonds |
ISBN | : |
Download Emerging Market Bond Spreads and Sovereign Credit Ratings Book in PDF, Epub and Kindle
Author | : N. Finch |
Publisher | : Springer |
Total Pages | : 311 |
Release | : 2014-12-09 |
Genre | : Business & Economics |
ISBN | : 1137450665 |
Download Emerging Markets and Sovereign Risk Book in PDF, Epub and Kindle
Emerging Markets and Sovereign Risk provides case studies, commentary and analysis on the financial risk management and measurement in the context of frontier and developing counties from international experts covering three key areas of emerging market investments, the rating sovereign risk and managing sovereign risk.
Author | : Helmut Reisen |
Publisher | : |
Total Pages | : 32 |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Sovereign Credit Ratings, Emerging Market Risk and Financial Market Volatility Book in PDF, Epub and Kindle
Author | : Mr.Udaibir S. Das |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 1451961944 |
Download Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets Book in PDF, Epub and Kindle
Top down spillovers of sovereign default risk can have serious consequences for the private sector in emerging markets. This paper analyzes the effects of these spillovers using firm-level data from 31 emerging market economies. We assess how sovereign risk affects corporate access to international capital markets, in the form of external credit (loans and bond issuances) and equity issuances. The study first analyzes the impact of sovereign debt crises during the 1980s and 1990s. It goes on to examine the 1993 to 2007 period, using additional measures of sovereign risk-sovereign bond spreads and sovereign ratings-as explanatory variables. Overall, we find that sovereign default risk is a crucial determinant of private sector access to capital, be it external debt or equity. We also find that crisis resolution patterns matter and that defaults towards private creditors have stronger adverse consequences than defaults to official creditors.