Understanding the determinants of government debt ratings: evidence for the two leading agencies

Bibliographic Details
Main Author: Afonso, António
Publication Date: 2002
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/2736
Summary: I conduct an analysis of the possible determinants of sovereign credit ratings assigned by the two leading credit rating agencies, Moody's and Standard and Poor's, by using both a linear and a logistic transformation of the rating scales. Of the large number of variables that can be used, the set of explanatory variables selected in this study is significant in explaining the credit ratings. Namely, six variables appear to be the most relevant to determine a country's credit rating: GDP per capita, external debt, level of economic development, default history, real growth rate and inflation rate.
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spelling Understanding the determinants of government debt ratings: evidence for the two leading agenciesCredit RatingsSovereign DebtI conduct an analysis of the possible determinants of sovereign credit ratings assigned by the two leading credit rating agencies, Moody's and Standard and Poor's, by using both a linear and a logistic transformation of the rating scales. Of the large number of variables that can be used, the set of explanatory variables selected in this study is significant in explaining the credit ratings. Namely, six variables appear to be the most relevant to determine a country's credit rating: GDP per capita, external debt, level of economic development, default history, real growth rate and inflation rate.ISEG – Departamento de EconomiaRepositório da Universidade de LisboaAfonso, António2010-12-22T10:14:33Z20022002-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2736engAfonso, António. 2002. "Understanding the determinants of government debt ratings: evidence for the two leading agencies". Instituto Superior de Economia e Gestão - DE Working papers nº 2-2002/DE/CISEP0874-4548info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-17T16:25:25Zoai:repositorio.ulisboa.pt:10400.5/2736Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:13:52.620101Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Understanding the determinants of government debt ratings: evidence for the two leading agencies
title Understanding the determinants of government debt ratings: evidence for the two leading agencies
spellingShingle Understanding the determinants of government debt ratings: evidence for the two leading agencies
Afonso, António
Credit Ratings
Sovereign Debt
title_short Understanding the determinants of government debt ratings: evidence for the two leading agencies
title_full Understanding the determinants of government debt ratings: evidence for the two leading agencies
title_fullStr Understanding the determinants of government debt ratings: evidence for the two leading agencies
title_full_unstemmed Understanding the determinants of government debt ratings: evidence for the two leading agencies
title_sort Understanding the determinants of government debt ratings: evidence for the two leading agencies
author Afonso, António
author_facet Afonso, António
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
dc.subject.por.fl_str_mv Credit Ratings
Sovereign Debt
topic Credit Ratings
Sovereign Debt
description I conduct an analysis of the possible determinants of sovereign credit ratings assigned by the two leading credit rating agencies, Moody's and Standard and Poor's, by using both a linear and a logistic transformation of the rating scales. Of the large number of variables that can be used, the set of explanatory variables selected in this study is significant in explaining the credit ratings. Namely, six variables appear to be the most relevant to determine a country's credit rating: GDP per capita, external debt, level of economic development, default history, real growth rate and inflation rate.
publishDate 2002
dc.date.none.fl_str_mv 2002
2002-01-01T00:00:00Z
2010-12-22T10:14:33Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/2736
url http://hdl.handle.net/10400.5/2736
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António. 2002. "Understanding the determinants of government debt ratings: evidence for the two leading agencies". Instituto Superior de Economia e Gestão - DE Working papers nº 2-2002/DE/CISEP
0874-4548
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG – Departamento de Economia
publisher.none.fl_str_mv ISEG – Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833601988138369024

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