Economic uncertainty and credit risk: Evidence from international corporate bonds

Patricio Valenzuela, Javier Mella and Juan Claveria

Economics Letters, 2024, vol. 237, issue C

Abstract: Credit spreads are positively associated with economic policy uncertainty. This association is stronger in developing countries and countries with French-origin legal systems and worse sovereign credit ratings. This relation is also stronger for firms that usually face worse credit conditions.

Keywords: Bond spreads; Credit ratings; Default risk; Uncertainty (search for similar items in EconPapers)
JEL-codes: F3 F4 G1 G2 G3 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:237:y:2024:i:c:s0165176524001496

DOI: 10.1016/j.econlet.2024.111666

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