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The Importance of Sovereign Rating for Romania in the Crisis Context

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  • Dudian Monica

    ()
    (Academy of Economic Studies, Bucharest)

  • Trasca Daniela Livia

    ()
    (Academy of Economic Studies, Bucharest)

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    Abstract

    The sovereign credit risk rating for Romania had significant changes in the 1996 – 2008 periods, from category B- with negative perspective, as the lowest level, to BBB-, with positive perspective. The objective of this paper is to explain the importance of sovereign rating for Romania in the crisis context. The first part of the article is a short presentation of the sovereign rating literature regarding the concept and the risk sources. The second part highlights the relation between foreign currency long-term sovereign rating, foreign direct investment and debt cost. The paper find evidence that sovereign rating influences capital inflows and debt cost.

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumate2011p1.pdf
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    Bibliographic Info

    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

    Volume (Year): XI (2011)
    Issue (Month): 1 (May)
    Pages: 680-687

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    Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:680-687

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    Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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    Related research

    Keywords: sovereign rating; rating agencies; foreign direct investment; credit spreads;

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