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Common Characteristics of Rated Sovereigns Prior to Default

In: Emerging Markets and Sovereign Risk

Author

Listed:
  • Marie Cavanaugh
  • John B. Chambers
  • Maximillian McGraw

Abstract

External imbalances and political issues are often the sovereign rating factors that best signal future default. External imbalances are associated with public or private sector excesses, and they generally have fiscal and monetary repercussions. In Standard & Poor’s Ratings Services’ view, no single measure consistently serves as a good leading indicator of sovereign default. Instead, a confluence of factors, including economic policy shortcomings, underlies most sovereign defaults.

Suggested Citation

  • Marie Cavanaugh & John B. Chambers & Maximillian McGraw, 2015. "Common Characteristics of Rated Sovereigns Prior to Default," Palgrave Macmillan Books, in: Nigel Finch (ed.), Emerging Markets and Sovereign Risk, chapter 10, pages 182-192, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-45066-1_10
    DOI: 10.1057/9781137450661_10
    as

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