Determinants of sovereign ratings in emerging countries: A qualitative, dependent variable panel data analysis
Küçük Resim Yok
Tarih
2015
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Econjournals
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The aim of this paper is to study determinants of sovereign ratings of emerging countries. The effects of macroeconomic and political variables on the ratings are analyzed by probit and logit panel data analysis. This empirical research determines whether the sovereign ratings of emerging countries are independent of macroeconomic indicators of these countries. It might be vital to know the effects of macroeconomic variables on sovereign rating for politicians, foreign investors, monetary authorities and academicians. Thus, we need efficient and strong models explaining sovereign rating. In the empirical model of the study, qualitative and dependent variable models were used to check the effects of current account deficits, external debts, gross domestic product per capita, real exchange rates, inflations, savings rates and political qualities on sovereign ratings that are exported by three large rating agencies’ (S & P, Moodys and Fitch). The results show that macroeconomic political variables affect sovereign ratings. © 2015, Econjournals. All rights reserved.
Açıklama
Anahtar Kelimeler
Emerging countries, Ordered probit and logit panel data analysis, Sovereign rating
Kaynak
International Journal of Economics and Financial Issues
WoS Q Değeri
Scopus Q Değeri
N/A
Cilt
5
Sayı
3
