Determinants of Investment Grade Status in Emerging Markets PDF Download

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Determinants of Investment Grade Status in Emerging Markets

Determinants of Investment Grade Status in Emerging Markets PDF Author: Laura Jaramillo
Publisher: International Monetary Fund
ISBN: 145520076X
Category : Business & Economics
Languages : en
Pages : 23

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Book Description
Emerging market countries seek investment grade status to lower financing costs for the sovereign, expand the pool of potential investors to institutional investors, and allow corporates the possibility of reducing their borrowing costs. Using a random effects binomial logit model on a sample of 48 emerging markets, the paper finds that, to a large extent, investment grade rating assignments can be explained by a handful of variables. The results also suggest that efforts by emerging markets to increase the likelihood of an upgrade should focus on debt indicators rather than the other key determinants of investment grade status.