How Fiscal Policies Affect Credit Rates: Probit Analysis Of Three Main Credit Rating Agencies' Sovereign Credit Notes

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dc.contributor.authorBalikcloglu, Eda
dc.contributor.authorYilmaz, Hakki Hakan
dc.date.accessioned2020-06-25T18:34:20Z
dc.date.available2020-06-25T18:34:20Z
dc.date.issued2019
dc.departmentKırıkkale Üniversitesi
dc.description.abstractThe aim of this study is to identify the relationship between fiscal policy and sovereign credit ratings within a comparative framework for the post-2000 period. In this study, indicators affecting credit notes of three rating agencies through domestic savings, growth, inflation, unemployment, current account balance and public revenues, public expenditures, primary deficits, budget deficits and public debt data for selected countries for the period between 2001 and 2016 are evaluated by using probit analysis under four scenarios. The study reveals that growth, unemployment, savings, current account deficit and public debt have come to the forefront in the realizations and far estimates, while the main indicators in the public sector, namely the impact of expenditure, deficit, primary balance and debt on rating decisions, are more dominant in the near estimates. These results show that the factors that are differentiating the credit rating evaluation period are the indicators of public finance. It seems that models used by the credit institutions are more likely to show short-term outcomes in the sense of public finance parameters mainly reflecting the macroeconomic responsibility level of the ruling governments.en_US
dc.identifier.doi10.24193/tras.56E.1
dc.identifier.endpage22en_US
dc.identifier.issn1842-2845
dc.identifier.issn2247-8310
dc.identifier.issue56Een_US
dc.identifier.scopus2-s2.0-85063534332
dc.identifier.scopusqualityQ3
dc.identifier.startpage5en_US
dc.identifier.urihttps://doi.org/10.24193/tras.56E.1
dc.identifier.urihttps://hdl.handle.net/20.500.12587/7870
dc.identifier.wosWOS:000459448200001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherBabes-Bolyai Univen_US
dc.relation.ispartofTransylvanian Review Of Administrative Sciences
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectfiscal policyen_US
dc.subjectcredit ratingsen_US
dc.subjectcredit rating agenciesen_US
dc.subjectpublic policyen_US
dc.subjectprobit modelen_US
dc.titleHow Fiscal Policies Affect Credit Rates: Probit Analysis Of Three Main Credit Rating Agencies' Sovereign Credit Notesen_US
dc.typeArticle

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