메뉴 건너뛰기




Volumn 140, Issue 3, 2004, Pages 510-524

Sovereign credit spreads and the composition of the government budget

Author keywords

Fiscal policy; Panel data; Sovereign credit risk

Indexed keywords


EID: 7044264918     PISSN: 16102878     EISSN: None     Source Type: Journal    
DOI: 10.1007/BF02665987     Document Type: Article
Times cited : (5)

References (42)
  • 1
    • 0027039635 scopus 로고
    • Default risk on government debt in OECD countries
    • Alesina, A., M. De Broeck, A. Prati, and G. Tabellini (1992). Default Risk on Government Debt in OECD Countries. Economic Policy 15 (Fall): 427-463.
    • (1992) Economic Policy , vol.15 , Issue.FALL , pp. 427-463
    • Alesina, A.1    De Broeck, M.2    Prati, A.3    Tabellini, G.4
  • 2
    • 45249127754 scopus 로고
    • Is public expenditure productive?
    • Aschauer, D. (1989). Is Public Expenditure Productive? Journal of Monetary Economics 23 (2): 171-198.
    • (1989) Journal of Monetary Economics , vol.23 , Issue.2 , pp. 171-198
    • Aschauer, D.1
  • 4
    • 84936526726 scopus 로고
    • Government spending in a simple model of endogenous growth
    • Barro, R. (1990). Government Spending in a Simple Model of Endogenous Growth. Journal of Political Economy 98 (5): S103-S125.
    • (1990) Journal of Political Economy , vol.98 , Issue.5
    • Barro, R.1
  • 5
    • 0026277597 scopus 로고
    • Economic growth in a cross section of countries
    • Barro, R. (1991). Economic Growth in a Cross Section of Countries. Quarterly Journal of Economics 106 (2): 407-444.
    • (1991) Quarterly Journal of Economics , vol.106 , Issue.2 , pp. 407-444
    • Barro, R.1
  • 8
    • 21844508334 scopus 로고
    • Do credit markets discipline sovereign borrowers? Evidence from US states
    • Bayoumi, T., M. Goldstein, and G. Woglom (1995). Do Credit Markets Discipline Sovereign Borrowers? Evidence from US States. Journal of Money, Credit and Banking 27 (4): 1046-1059.
    • (1995) Journal of Money, Credit and Banking , vol.27 , Issue.4 , pp. 1046-1059
    • Bayoumi, T.1    Goldstein, M.2    Woglom, G.3
  • 9
    • 0002481622 scopus 로고    scopus 로고
    • Determinants and impact of sovereign credit ratings
    • Cantor, R., and F. Packer (1996). Determinants and Impact of Sovereign Credit Ratings. Economic Policy Review 2 (2): 37-54.
    • (1996) Economic Policy Review , vol.2 , Issue.2 , pp. 37-54
    • Cantor, R.1    Packer, F.2
  • 10
    • 38149146663 scopus 로고
    • Local fiscal policy, default risk, and municipal borrowing costs
    • Capeci, J. (1994). Local Fiscal Policy, Default Risk, and Municipal Borrowing Costs. Journal of Public Economics 53 (1): 73-89.
    • (1994) Journal of Public Economics , vol.53 , Issue.1 , pp. 73-89
    • Capeci, J.1
  • 14
    • 0030115663 scopus 로고    scopus 로고
    • The composition of public expenditure and economic growth
    • Devarajan, S., V. Swaroop, and H. Zou (1996). The Composition of Public Expenditure and Economic Growth. Journal of Monetary Economics 37 (2): 313-344.
    • (1996) Journal of Monetary Economics , vol.37 , Issue.2 , pp. 313-344
    • Devarajan, S.1    Swaroop, V.2    Zou, H.3
  • 15
    • 0039257757 scopus 로고    scopus 로고
    • Credit spreads between German and Italian sovereign bonds. Do affine models work?
    • Düllman, K., and M. Windfuhr (2000). Credit Spreads between German and Italian Sovereign Bonds. Do Affine Models Work? Canadian Journal of Administrative Sciences 17 (2): 166-181.
    • (2000) Canadian Journal of Administrative Sciences , vol.17 , Issue.2 , pp. 166-181
    • Düllman, K.1    Windfuhr, M.2
  • 17
    • 0000759313 scopus 로고
    • LDC foreign borrowing and default risk: An empirical investigation, 1976-80
    • Edwards, S. (1984). LDC Foreign Borrowing and Default Risk: An Empirical Investigation, 1976-80. American Economic Review 74 (4): 726-734.
    • (1984) American Economic Review , vol.74 , Issue.4 , pp. 726-734
    • Edwards, S.1
  • 18
    • 38249039955 scopus 로고
    • The pricing of bonds and bank loans in international markets: An empirical analysis of developing countries' foreign borrowing
    • Edwards, S. (1986a). The Pricing of Bonds and Bank Loans in International Markets: An Empirical Analysis of Developing Countries' Foreign Borrowing. European Economic Review 30 (3): 565-589.
    • (1986) European Economic Review , vol.30 , Issue.3 , pp. 565-589
    • Edwards, S.1
  • 19
    • 0347901011 scopus 로고
    • Country risk, foreign borrowing, and the social discount rate in an open developing economy
    • Edwards, S. (1986b). Country Risk, Foreign Borrowing, and the Social Discount Rate in an Open Developing Economy. Journal of International Money and Finance 5 (0): S79-S96.
    • (1986) Journal of International Money and Finance , vol.5 , Issue.0
    • Edwards, S.1
  • 20
    • 0007023381 scopus 로고    scopus 로고
    • Taxation and economic growth
    • Engen, E., and J. Skinnen (1996). Taxation and Economic Growth. National Tax Journal 49 (4): 617-642.
    • (1996) National Tax Journal , vol.49 , Issue.4 , pp. 617-642
    • Engen, E.1    Skinnen, J.2
  • 21
    • 0010671567 scopus 로고
    • Are government activities productive? Evidence from a panel of US states
    • Evans, P., and G. Karras (1994). Are Government Activities Productive? Evidence from a Panel of US States. Review of Economics and Statistics 76 (1): 1-11.
    • (1994) Review of Economics and Statistics , vol.76 , Issue.1 , pp. 1-11
    • Evans, P.1    Karras, G.2
  • 22
    • 0009047504 scopus 로고    scopus 로고
    • Public capital and productivity growth. Evidence for Belgium 1953-1996
    • Everaert, G., and F. Heylen (2001). Public Capital and Productivity Growth. Evidence for Belgium 1953-1996. Economic Modelling 18 (1): 97-116.
    • (2001) Economic Modelling , vol.18 , Issue.1 , pp. 97-116
    • Everaert, G.1    Heylen, F.2
  • 23
    • 0000688045 scopus 로고    scopus 로고
    • High yields: The spread on German interest rates
    • Favero, C., F. Giavazzi, and L. Spanventa (1997). High Yields: The Spread on German Interest Rates. Economic Journal 107 (443): 956-985.
    • (1997) Economic Journal , vol.107 , Issue.443 , pp. 956-985
    • Favero, C.1    Giavazzi, F.2    Spanventa, L.3
  • 24
    • 0034922812 scopus 로고    scopus 로고
    • Growth effects of government expenditure and taxation in rich countries
    • Folster, S., and M. Henrekson (2001). Growth Effects of Government Expenditure and Taxation in Rich Countries. European Economic Review 45 (8): 1501-1520.
    • (2001) European Economic Review , vol.45 , Issue.8 , pp. 1501-1520
    • Folster, S.1    Henrekson, M.2
  • 26
    • 0002165703 scopus 로고
    • Market-based fiscal discipline in monetary unions: Evidence from the US municipal bond market
    • M. Canzoneri, V. Grilli, and P. Masson (eds.). Cambridge: University Press
    • Goldstein, M., and G. Woglom (1992). Market-Based Fiscal Discipline in Monetary Unions: Evidence from the US Municipal Bond Market. In M. Canzoneri, V. Grilli, and P. Masson (eds.), Establishing a Central Bank: Issues in Europe and Lessons from the U.S.. Cambridge: University Press.
    • (1992) Establishing a Central Bank: Issues in Europe and Lessons from the U.S.
    • Goldstein, M.1    Woglom, G.2
  • 27
    • 0000904473 scopus 로고
    • An empirical analysis of cross-national economic growth, 1951-1980
    • Grier, K., and G. Tullock (1989). An Empirical Analysis of Cross-National Economic Growth, 1951-1980. Journal of Monetary Economics 24 (September): 259-276.
    • (1989) Journal of Monetary Economics , vol.24 , Issue.SEPTEMBER , pp. 259-276
    • Grier, K.1    Tullock, G.2
  • 30
    • 0000235745 scopus 로고    scopus 로고
    • Fiscal policy and growth: Evidence from OECD countries
    • Kneller, R., M. Bleaney, and N. Gemmell (1999). Fiscal Policy and Growth: Evidence from OECD Countries. Journal of Public Economics 74 (2): 171-190.
    • (1999) Journal of Public Economics , vol.74 , Issue.2 , pp. 171-190
    • Kneller, R.1    Bleaney, M.2    Gemmell, N.3
  • 32
    • 0000918788 scopus 로고
    • Government expenditure and economic growth: A cross-country study
    • Landau, D. (1983). Government Expenditure and Economic Growth: A Cross-Country Study. Southern Economic Journal 49 (3): 783-792.
    • (1983) Southern Economic Journal , vol.49 , Issue.3 , pp. 783-792
    • Landau, D.1
  • 33
    • 0023496617 scopus 로고
    • Government and economic growth in the less developed countries: An empirical study for 1960-1980
    • Landau, D. (1986). Government and Economic Growth in the Less Developed Countries: An Empirical Study for 1960-1980. Economic Development and Cultural Change 35 (11): 36-75.
    • (1986) Economic Development and Cultural Change , vol.35 , Issue.11 , pp. 36-75
    • Landau, D.1
  • 34
    • 0005048988 scopus 로고    scopus 로고
    • Credit risk and European government bond markets: A panel data econometric analysis
    • Lemmen, J., and C. Goodhart (1999). Credit Risk and European Government Bond Markets: A Panel Data Econometric Analysis. Eastern Economic Journal 25 (1): 77-107.
    • (1999) Eastern Economic Journal , vol.25 , Issue.1 , pp. 77-107
    • Lemmen, J.1    Goodhart, C.2
  • 35
    • 0026959873 scopus 로고
    • A sensitivity analysis of cross-country growth regressions
    • Levine, R., and D. Renelt (1992). A Sensitivity Analysis of Cross-Country Growth Regressions. American Economic Review 82 (2): 942-963.
    • (1992) American Economic Review , vol.82 , Issue.2 , pp. 942-963
    • Levine, R.1    Renelt, D.2
  • 37
    • 0031256589 scopus 로고    scopus 로고
    • On the ineffectiveness of tax policy in altering long-run growth: Harberger's superneutrality conjecture
    • Mendoza, E., G. Milesi-Ferretti, and P. Asea (1997). On the Ineffectiveness of Tax Policy in Altering Long-Run Growth: Harberger's Superneutrality Conjecture. Journal of Public Economics 66 (1): 99-126.
    • (1997) Journal of Public Economics , vol.66 , Issue.1 , pp. 99-126
    • Mendoza, E.1    Milesi-Ferretti, G.2    Asea, P.3
  • 38
    • 0003300729 scopus 로고
    • Infrastructure investment and economic growth
    • Munnell, A. (1992). Infrastructure Investment and Economic Growth. Journal of Economic Perspectives 6 (4): 189-198.
    • (1992) Journal of Economic Perspectives , vol.6 , Issue.4 , pp. 189-198
    • Munnell, A.1
  • 39
    • 0004275553 scopus 로고    scopus 로고
    • CD-ROM. Version 2003/1. Paris
    • OECD (2003). Economic Outlook. CD-ROM. Version 2003/1. Paris.
    • (2003) Economic Outlook
  • 40
    • 67349095623 scopus 로고
    • LDC borrowing with default risk
    • Special Issue on International Banking
    • Sachs, J., and D. Cohen (1982). LDC Borrowing with Default Risk. Kredit und Kapital, Special Issue on International Banking.
    • (1982) Kredit und Kapital
    • Sachs, J.1    Cohen, D.2
  • 41
    • 0003793898 scopus 로고    scopus 로고
    • Modelling government investment and economic growth
    • H. Shibata and T. Ihori (eds.). Tokyo: Springer
    • Sturm, J. E., J. de Haan, and G. H. Kuper (1999). Modelling Government Investment and Economic Growth. In H. Shibata and T. Ihori (eds.), Welfare State, Public Investment, and Growth. Tokyo: Springer.
    • (1999) Welfare State, Public Investment, and Growth
    • Sturm, J.E.1    De Haan, J.2    Kuper, G.H.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.