This paper empirically examines the determinants of sovereign credit ratings using panel data of a sample of 86 countries for 1993-2013. It further investigates whether the countries' average credit rating differs for crisis and non-crisis periods, as well as for the different regions where the...

This paper empirically examines the determinants of sovereign credit ratings using panel data on a sample of 86 countries for 1993–2013. It further investigates whether the countries' average credit rating differs by region and for crisis and noncrisis periods, and how the bursting of the...