Credit rating agencies examine the credit risks of countries according to certain criteria and present the rating results with certain grading symbols. Because financial actors prefer countries and industries with high investment grades as per the given ratings, credit ratings become even more...

Credit rating agencies examine the credit risks of countries according to certain criteria and present the rating results with certain grading symbols. Because financial actors prefer countries and industries with high investment grades as per the given ratings, credit ratings become even more...

Credit rating agencies examine the credit risks of countries according to certain criteria and present the rating results with certain grading symbols. Because financial actors prefer countries and industries with high investment grades as per the given ratings, credit ratings become even more...

This paper investigates the value of political institutions for financial markets, using panel data from emerging market countries. We test the hypothesis that changes in political institutions, such as improvements in democratic rights and increased government accountability, have a direct...

This paper provides empirical evidence on the determinants of exchange rate credibility under the European Monetary System (EMS). To that end, we have considered both economic variables and political factors using data of eight currencies participating in the Exchange Rate Mechanism, covering...