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Book Cover
Author Christofides, Charalambos, author

Title The link between adherence to international standards of good practice, foreign exchange spreads, and ratings / Charis Christofides, Christian Mulder and Andrew Tiffin
Published [Washington, D.C.] : International Monetary Fund, [2003]
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Description 1 online resource (31 pages) : illustrations
Series IMF working paper ; WP/03/74
IMF working paper ; WP/03/74
Summary This paper examines the relationship between adherence to international standards of good practice in policy-making and two key indicators of access to capital markets and the cost of this access: spreads and sovereign ratings. In contrast to other work, this study reviews a broad set of indicators for adherence to international standards. The estimations are conducted for emerging market economies, and pay particular attention to issues of persistence in spreads and ratings and nonlinearities in the relationships. The main finding confirms the expectation that standards are indeed relevant. Accounting standards and property rights are especially important for spreads, in addition to data transparency (SDDS subscription). Accounting standards and corruption are especially important in explaining ratings in addition to trade protectiveness (not a standard)
Bibliography Includes bibliographical references (pages 27-29)
Notes Print version record
Subject Accounting -- Standards -- Developing countries.
Credit ratings -- Developing countries.
Disclosure of information -- Standards -- Developing countries.
Foreign exchange rates -- Developing countries.
International finance -- Standards.
Developing countries -- Economic policy -- Standards.
Form Electronic book
Author Mulder, Christian B., author
Tiffin, Andrew, author
International Monetary Fund. Research Department.
ISBN 1281603015