Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/860
Title: Are credit rating agencies regionally biased?
Authors: Yalta, Abdullah Talha
Yalta, Ayşe Talha
Keywords: Sovereign ratings
Credit rating agencies
Seemingly unrelated regressions
Credit risk
Issue Date: 1-Dec-2018
Publisher: Elsevier B. V.
Source: Yalta, A. T., & Yalta, A. Y. (2018). Are credit rating agencies regionally biased?. Economic Systems, 42(4), 682-694.
Abstract: We investigate claims of regional bias in the sovereign credit ratings given by the rating agencies Fitch, Moody's and Standard & Poor's by considering a wide range of macroeconomic, financial, institutional, regional and geopolitical indicators for 99 countries categorized into eight regions plus the United States. Empirical results based on seemingly unrelated regressions indicate a strong home country bias towards the United States, while there seem to be no special biases against individual groups of countries. We also demonstrate how modeling errors such as omitted variables can increase dispersion in the estimated regional effects, causing agencies to appear biased.
URI: https://doi.org/10.1016/j.ecosys.2018.08.001
https://hdl.handle.net/20.500.11851/860
ISSN: 0939-3625
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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