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Hadzi-Vaskov, Metodij,.
The nonlinear relationship between public debt and Sovereign credit ratings / / by Metodij Hadzi-Vaskov and Luca Antonio Ricci. - 5089/9781498325059.001. - [Washington, D.C.] : : International Monetary Fund,, ©2019. - 1 online resource (37 pages) ( час. мин.), 5089/9781498325059.001. - (IMF Working Paper ; ; WP/19/162). - Includes bibliographical references. - URL: https://library.dvfu.ru/lib/document/SK_ELIB/4EA00FC8-E5BA-48F2-A2CA-C0F6F89E575B . - ISBN 149832505X. - ISBN 1513509039 (electronic bk.). - ISBN 9781498325059. - ISBN 9781513509037 (electronic bk.)
Online resource; title from PDF title page (IMF, viewed Sept. 8, 2020).
Параллельные издания: Print Version: : Hadzi-Vaskov, Metodij. Nonlinear Relationship Between Public Debt and Sovereign Credit Ratings. - Washington, D.C. : International Monetary Fund, 2019. - ISBN 9781498325059
Содержание:
Literature review -- Dataset and emprirical strategy -- Empirical results -- Robustness -- Concluding remarks.
~РУБ DDC 336.3/4
Рубрики: Credit ratings.
Debts, Public.
Finance.
International finance.
Credit ratings.
Credit ratings.
Debts, Public.
Finance.
International finance.
Аннотация: This study investigates the nonlinear relationship between public debt and sovereign credit ratings, using a wide sample of over one hundred advanced, emerging, and developing economies. It finds that: i) higher public debt lowers the probability of being placed in a higher rating category; ii) the negative debt-ratings relationship is nonlinear and depends on the rating grade itself; and iii) the identified nonlinearity explains the differential impact of debt on ratings in advanced economies versus in emerging markets and developing economies. These results hold for both gross debt and net debt, and are robust to alternative dependent variable definitions, analytical techniques, and empirical specifications. These findings underscore the potential for fiscal consolidation in helping countries achieve a better credit rating.
Доп.точки доступа:
Ricci, Luca Antonio, \author.\
International Monetary Fund,
H 12
Hadzi-Vaskov, Metodij,.
The nonlinear relationship between public debt and Sovereign credit ratings / / by Metodij Hadzi-Vaskov and Luca Antonio Ricci. - 5089/9781498325059.001. - [Washington, D.C.] : : International Monetary Fund,, ©2019. - 1 online resource (37 pages) ( час. мин.), 5089/9781498325059.001. - (IMF Working Paper ; ; WP/19/162). - Includes bibliographical references. - URL: https://library.dvfu.ru/lib/document/SK_ELIB/4EA00FC8-E5BA-48F2-A2CA-C0F6F89E575B . - ISBN 149832505X. - ISBN 1513509039 (electronic bk.). - ISBN 9781498325059. - ISBN 9781513509037 (electronic bk.)
Online resource; title from PDF title page (IMF, viewed Sept. 8, 2020).
Параллельные издания: Print Version: : Hadzi-Vaskov, Metodij. Nonlinear Relationship Between Public Debt and Sovereign Credit Ratings. - Washington, D.C. : International Monetary Fund, 2019. - ISBN 9781498325059
Содержание:
Literature review -- Dataset and emprirical strategy -- Empirical results -- Robustness -- Concluding remarks.
Рубрики: Credit ratings.
Debts, Public.
Finance.
International finance.
Credit ratings.
Credit ratings.
Debts, Public.
Finance.
International finance.
Аннотация: This study investigates the nonlinear relationship between public debt and sovereign credit ratings, using a wide sample of over one hundred advanced, emerging, and developing economies. It finds that: i) higher public debt lowers the probability of being placed in a higher rating category; ii) the negative debt-ratings relationship is nonlinear and depends on the rating grade itself; and iii) the identified nonlinearity explains the differential impact of debt on ratings in advanced economies versus in emerging markets and developing economies. These results hold for both gross debt and net debt, and are robust to alternative dependent variable definitions, analytical techniques, and empirical specifications. These findings underscore the potential for fiscal consolidation in helping countries achieve a better credit rating.
Доп.точки доступа:
Ricci, Luca Antonio, \author.\
International Monetary Fund,
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