Rating the Rating Agencies : Anticipating Currency Crises or Debt Crises? /
In contrast to the early-warning system literature, we find that currency and debt crises are not closely linked in emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipate currency crises. When debt crises are defined as sovereign distress-when spreads ar...
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| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Serier: | IMF Working Papers; Working Paper ;
No. 2003/122 |
| Online adgang: | Full text available on IMF |