Economic uncertainty and credit risk: evidence from international corporate bonds

Patricio Valenzuela*, Javier Mella, Juan Claveria

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

Credit spreads are positively associated with economic policy uncertainty. This association is stronger in developing countries and countries with French-origin legal systems and worse sovereign credit ratings. This relation is also stronger for firms that usually face worse credit conditions.

Original languageEnglish
Article number111666
Pages (from-to)1-4
Number of pages4
JournalEconomics Letters
Volume237
DOIs
StatePublished - Apr 2024

Bibliographical note

Publisher Copyright:
© 2024

Keywords

  • Bond spreads
  • Credit ratings
  • Default risk
  • Uncertainty

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