Political instability and country risk: new evidence
This note presents new estimates of a probit model for the debt rescheduling, using a sample of 65 countries over the period 1984-93. Apart from economic variables, a whole range of indicators for political instability are included in the model as explanatory variables. It turns out, that none is significant with the 'correct' sign. Apparently, a detoriation of the political situation is already reflected in economic aggregates, which suggest that the influence of political factors is discounted in macroeconomic variables as included in the model.
Year of publication: |
1997
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Authors: | Haan, Jakob De ; Siermann, Clemens ; Lubek, Erna Van |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 4.1997, 11, p. 703-707
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Publisher: |
Taylor & Francis Journals |
Saved in:
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