Potentially endogenous borrowing and developing country sovereign credit ratings - July 2005
نویسنده
چکیده
.................................................................................................................................................. ix Introduction...............................................................................................................................................1 I. The determinants of foreign currency sovereign ratings: theory, data and OLS estimates .....................................................................................................................2 A. Theory........................................................................................................................2 B. Data and OLS estimates of a rating equation ...........................................................3 II. A structural model for the joint determination of the average rating and external debt/income ratio .................................................................................................................6 III. Differences in rating behaviour across agencies.................................................................9 Conclusions............................................................................................................................................10 References .............................................................................................................................................11
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