39. Country Debt Default Probabilities in Emerging Markets: Were Credit Rating Agencies Wrong?

  1. Robert W. Kolb
  1. Angelina Georgievska1,
  2. Ljubica Georgievska2,
  3. Aleksandar Stojanovic Dr.3 and
  4. Natasa Todorovic Dr.4

Published Online: 29 NOV 2011

DOI: 10.1002/9781118267073.ch39

Sovereign Debt: From Safety to Default

Sovereign Debt: From Safety to Default

How to Cite

Kolb, R. W. (2011) Country Debt Default Probabilities in Emerging Markets: Were Credit Rating Agencies Wrong?, in Sovereign Debt: From Safety to Default, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118267073.ch39

Author Information

  1. 1

    BNP Paribas, London, U.K.

  2. 2

    Goldman Sachs, London, U.K.

  3. 3

    Head of Department of Accounting and Finance, Director of Centre for Governance, Risk and Accountability, University of Greenwich Business School, London, U.K.

  4. 4

    Senior Lecturer in Investment Management, Cass Business School, London, U.K.

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 21 FEB 2011

ISBN Information

Print ISBN: 9780470922392

Online ISBN: 9781118267073

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Keywords:

  • default probabilities;
  • credit rating agencies;
  • basel capital accordbasel II;
  • sovereign credit ratings;
  • emerging markets

Summary

This chapter contains sections titled:

  • Debt Rescheduling Probability Model

  • Empirical Versus CRAs' Probabilities of Emerging Markets Sovereign Debt Rescheduling

  • Implications

  • Notes

  • About the Authors