PublicationsBACK

Credit Rating Agencies in Emerging Democracies: Guardians of Fiscal Discipline?

Jul 01, 2013 | M. Hanusch, P.M. Vaaler | The World Bank
This paper presents evidence that credit rating agencies regularly anticipate and deter governments in emerging democracies from opportunistic borrowing and potential financial crises related to elections and the political budget cycle behavior they encourage.
Theme: Financial Inclusion | Pages: 13
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