Series: IMF Working Papers
Author(s): Julio Escolano , and Elif Arbatli
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2012
Keywords: Sovereign Credit Ratings, fiscal performance, public debt, budget process, budget documents
This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indi...