McAleer, Michael; da Veiga, Bernardo; Hoti, Suhejla - 2010
The country risk literature argues that country risk ratings have a direct impact on the cost of borrowings as they … reflect the probability of debt default by a country. An improvement in country risk ratings, or country creditworthiness … analyse country risk ratings data, much like financial data, in terms of the time series patterns, as such an analysis …