The Ghost of a Rating Downgrade : What happens to Borrowing Costs When a Government Loses its Investment Grade Credit Rating?
Since the global financial crisis and the end of the commodity super-cycle, weak growth and countercyclical fiscal policy have contributed to deteriorating public finances in many countries across the globe. As public debt burdens rose, credit rati...
| Main Authors: | , , , , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2016/07/26549943/ghost-rating-downgrade-happens-borrowing-costs-government-loses-investment-grade-credit-rating http://hdl.handle.net/10986/24672 |