Sovereign ratings and finance ministers’ characteristics

descriptionPublicationkeyboard_double_arrow_right Research , Article 01 Jan 2019 Portugal English Publisher:ISEG - REM - Research in Economics and Mathematics

Authors: Afonso, António; Jalles, João Tovar;

handle: 10400.5/17372 , 10400.5/26923

Sovereign ratings and finance ministers’ characteristics

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Abstract

This paper empirically assesses the effect of a newly-compiled set of finance ministers´ characteristics on the setting by rating agencies of the long-term sovereign rating notations. Using a sample of 26 EU countries between 1980-2012, we find that the existence of more focused delegation-oriented fiscal framework, the Minister of Finance being a woman, and the Minister of Finance having a degree in the areas of finance or “hard sciences” seems to contribute to a better sovereign rating notation, and the opposite in the case of a Law background.

info:eu-repo/semantics/publishedVersion

Country

Portugal

Related Organizations

Universidade de Lisboa
Portugal
Technical University of Lisbon
Portugal

Keywords

panel data, ordered probit, sovereign debt, Ordered Probit, Fiscal Framework, sovereign ratings, Sovereign Debt, Sovereign Ratings, EU Countries, principal components

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