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題名 Quality of government institutions and spreads on sovereign credit default swaps
作者 Hsien-YiChen
陳聖賢
Chen, Sheng-Syan
貢獻者 財管系
關鍵詞 Institutional quality; Sovereign default; Credit risk
日期 2018-10
上傳時間 24-七月-2018 16:14:28 (UTC+8)
摘要 We examine how the quality of government institutions affects the likelihood of sovereign default. We find both economically and statistically significant adverse effects of country governance indicators on sovereign credit default swap spreads. The evidence suggests that better-quality governance enhances a country’s willingness to repay debt, and hence reduces the probability of sovereign default. The results still hold after we account for potential endogeneity and conduct a number of robustness tests.
關聯 Journal of International Money and Finance, Volume 87, Pages 82-95
資料類型 article
DOI https://doi.org/10.1016/j.jimonfin.2018.05.008
dc.contributor 財管系
dc.creator (作者) Hsien-YiChenen_US
dc.creator (作者) 陳聖賢zh_TW
dc.creator (作者) Chen, Sheng-Syanen_US
dc.date (日期) 2018-10
dc.date.accessioned 24-七月-2018 16:14:28 (UTC+8)-
dc.date.available 24-七月-2018 16:14:28 (UTC+8)-
dc.date.issued (上傳時間) 24-七月-2018 16:14:28 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/118855-
dc.description.abstract (摘要) We examine how the quality of government institutions affects the likelihood of sovereign default. We find both economically and statistically significant adverse effects of country governance indicators on sovereign credit default swap spreads. The evidence suggests that better-quality governance enhances a country’s willingness to repay debt, and hence reduces the probability of sovereign default. The results still hold after we account for potential endogeneity and conduct a number of robustness tests.en_US
dc.format.extent 348770 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) Journal of International Money and Finance, Volume 87, Pages 82-95
dc.subject (關鍵詞) Institutional quality; Sovereign default; Credit risken_US
dc.title (題名) Quality of government institutions and spreads on sovereign credit default swapsen_US
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1016/j.jimonfin.2018.05.008
dc.doi.uri (DOI) https://doi.org/10.1016/j.jimonfin.2018.05.008