Abstract
Analyses of budget balances in 18 emerging presidential democracies observed prior to the financial crisis of 2008-2009 show that credit rating agencies induce fiscal discipline in election years, thus reducing incentives for governments to borrow opportunistically for short-term electoral gain
| Original language | English (US) |
|---|---|
| Pages (from-to) | 251-254 |
| Number of pages | 4 |
| Journal | Economics Letters |
| Volume | 119 |
| Issue number | 3 |
| DOIs | |
| State | Published - Jun 2013 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 10 Reduced Inequalities -
SDG 17 Partnerships for the Goals
Keywords
- Credit rating agencies
- Elections
- Fiscal policy
- Political budget cycle
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