Article ID Journal Published Year Pages File Type
5059760 Economics Letters 2013 4 Pages PDF
Abstract
Analyses of budget balances in 18 emerging presidential democracies observed prior to the financial crisis of 2008-2009 show that credit rating agencies induce fiscal discipline in election years, thus reducing incentives for governments to borrow opportunistically for short-term electoral gain.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Credit rating agencies and elections in emerging democracies: Guardians of fiscal discipline?
Authors
, ,