GARCÍA GÁMEZ, SOFÍA; VICÉNS OTERO, JOSÉ - In: Estudios de Economía Aplicada 24 (2006) Abril, pp. 245-272
Credit ratings have a major impact on a country’s cost for external fi nancing. These ratings may become a great support or an obstacle in the path of emerging economies to international capital markets. Using panel data modelling, we develop a measure of sovereign risk that is highly...