Sovereign Credit Ratings and Spreads in Emerging Markets : Does Investment Grade Matter?

Does Investment Grade Matter?

Sovereign Credit Ratings and Spreads in Emerging Markets : Does Investment Grade Matter?
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... READ MORE...

Publication date: March 2011
ISBN 9781455218981
$18.00

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