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Sovereign Ratings and Finance Ministers' Characteristics

Author

Listed:
  • Antonio Afonso

    (University of Lisbon)

  • Joao Tovar Jalles

    (University of Lisbon)

Abstract

We assess the effect of a newly-compiled set of finance ministers´ characteristics on 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†contributes to better sovereign ratings, and the opposite in the case of a Law background.

Suggested Citation

  • Antonio Afonso & Joao Tovar Jalles, 2019. "Sovereign Ratings and Finance Ministers' Characteristics," Economics Bulletin, AccessEcon, vol. 39(4), pages 2999-3010.
  • Handle: RePEc:ebl:ecbull:eb-19-00559
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    References listed on IDEAS

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    More about this item

    Keywords

    sovereign ratings; ordered probit; sovereign debt; panel data;
    All these keywords.

    JEL classification:

    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • G1 - Financial Economics - - General Financial Markets

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