Financial openness, domestic financial development and credit ratings

被引：28

作者：

Andreasen, Eugenia ^{[1
]}

Valenzuela, Patricio ^{[2
]}

机构：

[1] Univ Santiago Chile, Dept Econ, Santiago, Chile

[2] Univ Chile, Dept Ind Engn, Ave Republ 701, Santiago, Chile

来源：

FINANCE RESEARCH LETTERS | 2016年 / 16卷

关键词：

Credit risk; Financial development; Financial liberalization;

D O I：

10.1016/j.frl.2015.10.019

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article shows that financial openness significantly affects corporate and sovereign credit ratings and that the magnitude of this effect depends on the level of development of the domestic financial market. Issuers located in less financially developed economiesi stand to benefit the most from opening up their capital accounts, whereas the impact of this effect decreases as the level of development of the domestic capital market improves. (C) 2015 Elsevier Inc. All rights reserved.

引用

页码：11 / 18

页数：8

共 18 条

[1]

[Anonymous], 1996, Federal Reserve Bank of New York Economic Policy Review

[2] Financial development and openness: Evidence from panel data [J].