Sovereign credit ratings play an important part in determining countries' access to international capital markets and the terms of that access. In principle, there is no reason to expect that sovereign credit ratings should systematically predict currency crises. In practice, in emerging market economies there is a strong link between currency crises and default. Hence if credit ratings are forward-looking and currency crises in emerging market economies...
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INFORMATION
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2002/05/01
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Article de revue
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77386
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1
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1
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2013/05/21
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Disclosed
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Financial crises, credit ratings, and bank failure : default, currency crises, and sovereign credit ratings
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currency crisis
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