The Statistical Determinants of Local Currency Sovereign Ratings

L. Trevino and S. Thomas

Working Papers from University of Southampton - Department of Accounting and Management Science

Abstract: This paper presents the first systematic analysis of the determinants of local currency sovereign ratings and uses ordered probit estimation. We find no signifiant quantitative impact for the best theoretical indicators of local currency creditworthiness, the fiscal balance and the rate of inflation, while a proxy for the reputation of the sovereign plays a significant role.

Keywords: CURRENCIES; RISK; CREDIT (search for similar items in EconPapers)
JEL-codes: G15 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fth:sotoam:00-158

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