Evaluation of regional debt ratings through discriminant analysis

Roberto Fernández Llera ()
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Roberto Fernández Llera: Universidad de Oviedo
Authors registered in the RePEc Author Service: Roberto Fernández-Llera

INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, 2006, issue 8, 105-122

Abstract: Transparency is a necessary condition in order to financial market could exert an adequate discipline over public agents’ borrowing policy. In federal and decentralized countries, the risk of insolvency is bigger, given that expenditure and revenue policies are shared among several tiers of government. In this article we analyze the determinants of ratings as an instrument that can contribute to improve transparency in borrowing operations. Discriminant analysis is used and the Autonomous Communities in Spain are the core of the investigation.

Keywords: Ratings; Debt; Regions; Discriminant Analysis (search for similar items in EconPapers)
JEL-codes: G18 H74 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ris:invreg:0155

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