Financial openness, domestic financial development and credit ratings

Eugenia Andreasen; Patricio Valenzuela

doi:10.1016/j.frl.2015.10.019

Financial openness, domestic financial development and credit ratings

Eugenia Andreasen
, Patricio Valenzuela

Research output: Contribution to journal › Article › peer-review

38 Scopus citations

Abstract

This article 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 economiesi 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.

Original language	English
Pages (from-to)	11-18
Number of pages	8
Journal	Finance Research Letters
Volume	16
DOIs	https://doi.org/10.1016/j.frl.2015.10.019
State	Published - 1 Feb 2016
Externally published	Yes

Keywords

Credit risk
Financial development
Financial liberalization

Access to Document

10.1016/j.frl.2015.10.019

Cite this

@article{b8ad7be553c74f6ea1856e3c10e5474e,

title = "Financial openness, domestic financial development and credit ratings",

abstract = "This article 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 economiesi 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.",

keywords = "Credit risk, Financial development, Financial liberalization",

author = "Eugenia Andreasen and Patricio Valenzuela",

note = "Publisher Copyright: {\textcopyright} 2015 Elsevier Inc.",

year = "2016",

month = feb,

day = "1",

doi = "10.1016/j.frl.2015.10.019",

language = "English",

volume = "16",

pages = "11--18",

journal = "Finance Research Letters",

issn = "1544-6123",

publisher = "Elsevier Ltd.",

}

TY - JOUR

T1 - Financial openness, domestic financial development and credit ratings

AU - Andreasen, Eugenia

AU - Valenzuela, Patricio

PY - 2016/2/1

Y1 - 2016/2/1

N2 - This article 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 economiesi 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.

AB - This article 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 economiesi 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.

KW - Credit risk

KW - Financial development

KW - Financial liberalization

UR - https://www.scopus.com/pages/publications/84962570505

U2 - 10.1016/j.frl.2015.10.019

DO - 10.1016/j.frl.2015.10.019

M3 - Article

AN - SCOPUS:84962570505

SN - 1544-6123

VL - 16

SP - 11

EP - 18

JO - Finance Research Letters

JF - Finance Research Letters

ER -

Financial openness, domestic financial development and credit ratings

Abstract

Keywords

Access to Document

Fingerprint

Cite this