Boom and Bust and Sovereign Ratings
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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The 1990s have witnessed pronounced boom-bust cycles in emerging-markets lending, culminating in the Asian financial and currency crisis of 1997-98. By examining the links between sovereign credit ratings and dollar bond yield spreads over 1989-97, this paper aims at broad empirical content for judging whether the three leading rating agencies —...
