评估主权信用评级:科威特被高估了吗?

M. AlAli
{"title":"评估主权信用评级:科威特被高估了吗?","authors":"M. AlAli","doi":"10.20849/iref.v6i4.1306","DOIUrl":null,"url":null,"abstract":"Despite all the criticism surrounding the reliability of credit rating agencies’ rating systems, these agencies' ratings still play an essential role in determining the cost of funding for government bonds. These agencies are also accused of not applying the same standards for all countries resulting in mis-rating causing a disturbance in these countries economic and financial systems. Countries try their best to obtain the highest rating possible to reduce their cost of borrowing and increase the demand for their bonds in the global financial market. This research is set to examine whether or not Kuwait is getting a favorable sovereign credit rating from the three largest credit rating agencies. Using a panel data regression for 40 countries for the year 2017, results revealed that Kuwait enjoyed a favorable treatment from the three major credit rating agencies where it was rated by an average of 3.18 notches higher than what it should be. The results also indicates that Kuwait did not take advantage of its inflated credit rating and the policy makers did not address the factors that would improve their credit rating and as a result Kuwait sovereign credit rating was downgraded by all three credit rating agencies in 2022.","PeriodicalId":375463,"journal":{"name":"International Research in Economics and Finance","volume":"23 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2022-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Estimating Sovereign Credit Rating: Is Kuwait Overrated?\",\"authors\":\"M. AlAli\",\"doi\":\"10.20849/iref.v6i4.1306\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Despite all the criticism surrounding the reliability of credit rating agencies’ rating systems, these agencies' ratings still play an essential role in determining the cost of funding for government bonds. These agencies are also accused of not applying the same standards for all countries resulting in mis-rating causing a disturbance in these countries economic and financial systems. Countries try their best to obtain the highest rating possible to reduce their cost of borrowing and increase the demand for their bonds in the global financial market. This research is set to examine whether or not Kuwait is getting a favorable sovereign credit rating from the three largest credit rating agencies. Using a panel data regression for 40 countries for the year 2017, results revealed that Kuwait enjoyed a favorable treatment from the three major credit rating agencies where it was rated by an average of 3.18 notches higher than what it should be. The results also indicates that Kuwait did not take advantage of its inflated credit rating and the policy makers did not address the factors that would improve their credit rating and as a result Kuwait sovereign credit rating was downgraded by all three credit rating agencies in 2022.\",\"PeriodicalId\":375463,\"journal\":{\"name\":\"International Research in Economics and Finance\",\"volume\":\"23 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2022-10-30\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Research in Economics and Finance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.20849/iref.v6i4.1306\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Research in Economics and Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.20849/iref.v6i4.1306","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0

摘要

尽管人们对信用评级机构评级系统的可靠性提出了种种批评,但这些机构的评级在决定政府债券融资成本方面仍发挥着至关重要的作用。这些机构还被指责没有对所有国家采用相同的标准,导致评级错误,从而扰乱了这些国家的经济和金融体系。各国尽最大努力获得尽可能高的评级,以降低其借款成本,并增加全球金融市场对其债券的需求。此次调查的目的是调查科威特是否从三大信用评价机构获得了良好的国家信用等级。使用2017年40个国家的面板数据回归,结果显示科威特享有三大信用评级机构的优惠待遇,其评级平均比应有的评级高出3.18个等级。结果还表明,科威特没有利用其膨胀的信用评级,政策制定者没有解决提高其信用评级的因素,结果科威特的主权信用评级在2022年被所有三个信用评级机构下调。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
Estimating Sovereign Credit Rating: Is Kuwait Overrated?
Despite all the criticism surrounding the reliability of credit rating agencies’ rating systems, these agencies' ratings still play an essential role in determining the cost of funding for government bonds. These agencies are also accused of not applying the same standards for all countries resulting in mis-rating causing a disturbance in these countries economic and financial systems. Countries try their best to obtain the highest rating possible to reduce their cost of borrowing and increase the demand for their bonds in the global financial market. This research is set to examine whether or not Kuwait is getting a favorable sovereign credit rating from the three largest credit rating agencies. Using a panel data regression for 40 countries for the year 2017, results revealed that Kuwait enjoyed a favorable treatment from the three major credit rating agencies where it was rated by an average of 3.18 notches higher than what it should be. The results also indicates that Kuwait did not take advantage of its inflated credit rating and the policy makers did not address the factors that would improve their credit rating and as a result Kuwait sovereign credit rating was downgraded by all three credit rating agencies in 2022.
求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
Threshold Effect in the Bank Lending Channel of Monetary Policy Transmission and the Role of Bank Portfolio Deterioration: A PSTR Specification in the WAEMU Zone AI-based Compliance Automation in Commercial Bank: How the Silicon Valley Bank Provided a Cautionary Tale for Future Integration The Impact of Supplier Base Consolidation on Procurement, Delivery, and Production Costs: Supply Chain Operations Optimization and Vendor Consolidation Estimating Sovereign Credit Rating: Is Kuwait Overrated? An Analytic Review of Brick’s “Political Economy of Customary Organizations in Rural Afghanistan”
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1