International Conference on Eurasian Economies
10-12 July 2017 – Istanbul, TURKEY
Paper detail
Paper ID : 1914
Status : Paper published
Language : Turkish
Topic : Macroeconomics
Presenter: Assoc. Prof. Dr. Sıtkı Sönmezer
Session : 1C Makroekonomi
Impact of Sovereign Credit Ratings on Capital Markets
Ülke Kredi Notlarının Sermaye Piyasalarına Etkisi
- Assoc. Prof. Dr. Mustafa Batuhan Tufaner (Istanbul Beykent University, Türkiye)
- Assoc. Prof. Dr. Sıtkı Sönmezer (Istanbul Commerce University, Türkiye)
- Prof. Dr. Ahmet Alkan Çelik (Doğuş University, Türkiye)
Abstract
Sovereign credit ratings are of great importance in terms of country's economy in recent years. Sovereign credit ratings can greatly affect both financial markets and macroeconomic balances. On the other hand, these credit ratings are closely related to the political situation of the countries. Therefore, all factors behind the credit rating announcements operating in global markets needs to be put forward. The content of this paper is to identify policy interest reaction towards sovereign credit ratings and examine of countries that experienced severe rating changes. In this bulletin, big three credit rating agencies are compared and critically assessed various credit rating of Turkey. The analyzed dataset covers sovereign rating announcements released by reputable rating agencies, stock price, Dollar / TL exchange rate, Dollar / Euro exchange rate and benchmark bond.
JEL codes: E44, D53, F59
Tufaner, Mustafa Batuhan, Sönmezer, Sıtkı, Çelik, Ahmet Alkan (2017). "Impact of Sovereign Credit Ratings on Capital Markets" in Proceedings of International Conference of Eurasian Economies 2017, pp.325-331, Istanbul, TURKEY.
DOI: https://doi.org/10.36880/C08.01914
