This paper discusses the role of the credit rating agencies during the recent financial crises. In particular, it examines whether the agencies can add to the dynamics of emerging market crises. Academics and investors often argue that sovereign credit ratings are responsible for pronounced boom-bust cycles in emerging markets lending. Using a vector autoregressive system this paper examines how US dollar bond yield spreads and the short-term international liquidity position react to an unexpected sovereign credit rating change. Contrary to common belief and previous studies, the empirical results suggest that an abrupt downgrade does not necessarily intensify a financial crisis
Credit rating changes for long-term foreign currency debt may act as a wake-up call with upgrades an...
Sovereign credit ratings play an important part in determining countries’ access to international ca...
This paper examines the relationship between sovereign credit ratings and international capital flow...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
The experience in the period during and after the Asian crisis of 1997-98 has provoked an extensive ...
This paper discusses the role of credit rating agencies during the recent …nancial crises. In partic...
This paper has addressed the following questions: Do sovereign credit ratings systematically help pr...
This paper has addressed the following questions: Do sovereign credit ratings systematically help pr...
The experience in the period during and after the Asian crisis of 1997-98 has provoked an extensive ...
This study investigates the role of credit rating agencies in international financial markets. With ...
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. ...
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. ...
Three of the papers in this volume address various aspects of these issues—in particular as regards ...
Credit rating changes for long-term foreign currency debt may act as a wake-up call with upgrades an...
Sovereign credit ratings play an important part in determining countries’ access to international ca...
This paper examines the relationship between sovereign credit ratings and international capital flow...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
This paper discusses the role of the credit rating agencies during the recent financial crises. In p...
The experience in the period during and after the Asian crisis of 1997-98 has provoked an extensive ...
This paper discusses the role of credit rating agencies during the recent …nancial crises. In partic...
This paper has addressed the following questions: Do sovereign credit ratings systematically help pr...
This paper has addressed the following questions: Do sovereign credit ratings systematically help pr...
The experience in the period during and after the Asian crisis of 1997-98 has provoked an extensive ...
This study investigates the role of credit rating agencies in international financial markets. With ...
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. ...
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. ...
Three of the papers in this volume address various aspects of these issues—in particular as regards ...
Credit rating changes for long-term foreign currency debt may act as a wake-up call with upgrades an...
Sovereign credit ratings play an important part in determining countries’ access to international ca...
This paper examines the relationship between sovereign credit ratings and international capital flow...