Policy Strategy Towards Achieving Investment Grade Status for Emerging Economies

Eufrocinio Bernabe and Dongkoo Chang

Working Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: The paper discusses a possible policy strategy towards achieving an investment grade status for emerging economies. Through the use of an econometric model, it determines which among the macroeconomic variables considered by Credit Rating Agencies (CRAs) impacts speculative and investment grade economies. More importantly, it ranks these macroeconomic determinants according to its largest effect on the probability of achieving an investment grade status. This vital information will aid policymakers in identifying target areas where government efforts and resources should be focused.

Keywords: Credit Ratings; Credit Rating Agencies; Governance; Political Stability Indicators; Investment Grade; Econometric Model with Panel Data (search for similar items in EconPapers)
JEL-codes: C33 E44 F34 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2014-05
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