Financial Openness, Domestic Financial Development and Credit Ratings

Eugenia Andreasen () and Patricio Valenzuela

Working Papers from University of Pennsylvania, Wharton School, Weiss Center

Abstract: This paper 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 economies 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.

JEL-codes: F34 G15 G38 (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-cfn, nep-fmk and nep-ger
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Financial openness, domestic financial development and credit ratings (2016)
Working Paper: Financial Openness, Domestic Financial Development and Credit Ratings (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:upafin:15-06

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