Economic uncertainty and credit risk: evidence from international corporate bonds

Patricio Valenzuela; Javier Mella; Juan Claveria

doi:10.1016/j.econlet.2024.111666

Economic uncertainty and credit risk: evidence from international corporate bonds

Patricio Valenzuela^*, Javier Mella, Juan Claveria

^*Autor correspondiente de este trabajo

Universidad de los Andes

Producción científica: Contribución a una revista › Artículo › revisión exhaustiva

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Resumen

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.

Idioma original	Inglés
Número de artículo	111666
Páginas (desde-hasta)	1-4
Número de páginas	4
Publicación	Economics Letters
Volumen	237
DOI	https://doi.org/10.1016/j.econlet.2024.111666
Estado	Publicada - abr. 2024

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title = "Economic uncertainty and credit risk: evidence from international corporate bonds",

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.",

keywords = "Bond spreads, Credit ratings, Default risk, Uncertainty",

author = "Patricio Valenzuela and Javier Mella and Juan Claveria",

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year = "2024",

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doi = "10.1016/j.econlet.2024.111666",

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AU - Valenzuela, Patricio

AU - Mella, Javier

AU - Claveria, Juan

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AB - 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.

KW - Bond spreads

KW - Credit ratings

KW - Default risk

KW - Uncertainty

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U2 - 10.1016/j.econlet.2024.111666

DO - 10.1016/j.econlet.2024.111666

M3 - Article

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SP - 1

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JO - Economics Letters

JF - Economics Letters

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Economic uncertainty and credit risk: evidence from international corporate bonds

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