NDLI: Sovereign credit ratings, emerging market risk and financial market volatility

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Sovereign credit ratings, emerging market risk and financial market volatility

Content Provider	Semantic Scholar
Author	Reisen, Helmut Maltzan, Julia Von
Copyright Year	1998
Abstract	This article presents event studies that find a significant effect on dollar bond yield spreads when rating agencies put emerging-market sovereign bonds on review with negative outlook. The finding has two conditional implications. If rating agencies can be turned from late into early warning signals, they would have the potential to dampen boom-bust cycles in emerging-market flows. If rating agencies cannot improve on their reactive approach witnessed in the run-up and aftermath of recent currency crises, regulation and guidelines stipulating a certain rating status for institutional investment will continue to intensify boom-bust cycles. The paper concludes with regulatory suggestions for both outcomes.
Starting Page	73
Ending Page	82
Page Count	10
File Format	PDF HTM / HTML
DOI	10.1007/BF02929503
Volume Number	33
Alternate Webpage(s)	https://www.econstor.eu/bitstream/10419/19198/1/55.pdf
Alternate Webpage(s)	https://tind-customer-agecon.s3.amazonaws.com/e837f018-0786-4bb3-81e9-8bd2c33e224c?AWSAccessKeyId=AKIAXL7W7Q3XHXDVDQYS&Expires=1560759426&Signature=k2J%2BAlMszyY1OKNzQeQL4DDTcIE%3D&response-content-disposition=inline%3B+filename*%3DUTF-8''dp980055.pdf&response-content-type=application/pdf
Alternate Webpage(s)	https://doi.org/10.1007/BF02929503
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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