The Economic Content of Indicators of Developing Country Creditworthiness
IMF Working Papers, February 1, 1996
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- The Economic Content of Indicators of Developing Country Creditworthiness
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Bibliographic details
- Published: February 1, 1996
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451927283.001
Summary
- This paper analyzes the economic determinants of developing country creditworthiness indicators for over 60 developing countries for the period from 1980 to 1993.
- The authors find that economic fundamentals explain a large amount of the variation in the credit ratings.
- All developing country ratings were adversely affected by an increase in international interest rates independently of the domestic economic fundamentals.
- A country’s regional location and the structure of its exports (such as whether it is primarily an exporter of fuel products or manufactured products) were also important.
Key economic determinants identified
- Ratio of non-gold foreign exchange reserves to imports.
- Ratio of the current account balance to GDP.
- Growth.
- Inflation.
- International interest rates (increase adversely affects all developing country ratings, independently of domestic fundamentals).
- Regional location.
- Structure of exports (e.g., primary exporter of fuel products versus manufactured products).
Scope and data
- Coverage: over 60 developing countries.
- Time period: from 1980 to 1993.
- Pages: 46.
- Volume: 1996.
- Issue: 009.
- Series: Working Paper No. 1996/009.
Publication and identifiers
- Publication title: The Economic Content of Indicators of Developing Country Creditworthiness.
- Publication type: IMF Working Papers.
- DOI: https://doi.org/10.5089/9781451927283.001
- Stock No: WPIEA0091996
- ISBN: 9781451927283
- ISSN: 1018-5941
International Monetary Fund. "The Economic Content of Indicators of Developing Country Creditworthiness", IMF Working Papers 1996, 009 (1996).