Public Safe Assets Determination

Hung Ly-Dai

MPRA Paper from University Library of Munich, Germany

Abstract: We characterize the safety of public debt by one cross-section sample of 160 economies. For demand analysis, the public debt is safer for larger financial market size, higher financial development level, lower inflation rate and greater political stability. For sup- ply analysis, by a huger debt stock, the safety improves in economies with high income per capita but deteriorates in economies with low income per capita. The results are robust for Instrument-Variable regressions.

Keywords: Safe Assets; Credit Ratings; Financial Development (search for similar items in EconPapers)
JEL-codes: F21 F31 F41 (search for similar items in EconPapers)
Date: 2018-03, Revised 2018-10
New Economics Papers: this item is included in nep-opm
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https://mpra.ub.uni-muenchen.de/108132/1/MPRA_paper_90237.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:90237

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