Nber Working Paper Series Default , Currency Crises and Sovereign Credit Ratings

  • Carmen M. Reinhart
  • Published 2002
Sovereign credit ratings play an important role in determining the terms and the extent to which countries have access to international capital markets. In principle, there is no reason why changes in sovereign credit ratings should be expected to systematically predict a currency crisis. In practice, however, in developing countries there is a strong link… (More)