Determinants of Government Debt Rating - Implications for the Euro Area Sovereign Crisis

by Maliqi, Andi
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Maliqi, Andi Determinants of Government Debt Rating - Implications for the Euro Area Sovereign Crisis
Maliqi, Andi - Determinants of Government Debt Rating - Implications for the Euro Area Sovereign Crisis

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Description

For many years financial literature has identified the government bond yield as the risk free rate. Consequently it has been used as a reference point for various investments. However historical data that the risk is not reflected on the price of these securities. The increased globalization and the vast amount of information in the market have expanded the flow of capital between countries. In this framework the pricing correctly of the government bonds is of vital importance. The novel of the study is that it adds two new variables which have been not included in previous literature, the history of defaults and the corruption index. Analyses include data for 77 advanced and emerging economies for the period 1998-2009. Results show that the history of defaults and the corruption index do really matter when evaluating a government s creditworthiness. The model is further used to estimate the default probabilities of default in the current Euro Sovereign Crisis.

Contributors

Author:
Maliqi, Andi

Further information

Biography Artist:
Andi Maliqi is a graduate in International Financial Management from a double degree programme between the University of Groningen and the University of Uppsala. Since May 2012 working as a financial manager for a European project that is being implemented in Shkoder, Albania. Fluent in English, Italian, Albanian and Turkish.
Language:
English
Number of Pages:
64
Media Type:
Softcover
Publisher:
LAP Lambert Academic Publishing

Master Data

Product Type:
Paperback book
Release date:
October 8, 2012
Package Dimensions:
0.22 x 0.15 x 0.004 m; 0.145 kg
GTIN:
09783659231568
DUIN:
J6G3P9Q3FBD
$62.99
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