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Antonio Afonso and Joao Tovar Jalles
 
''Sovereign Ratings and Finance Ministers' Characteristics''
( 2019, Vol. 39 No.4 )
 
 
We assess the effect of a newly-compiled set of finance ministers´ characteristics on long-term sovereign rating notations. Using a sample of 26 EU countries between 1980-2012, we find that the existence of more focused delegation-oriented fiscal framework, the Minister of Finance being a woman, and the Minister of Finance having a degree in the areas of finance or “hard sciences” contributes to better sovereign ratings, and the opposite in the case of a Law background.
 
 
Keywords: sovereign ratings; ordered probit; sovereign debt; panel data
JEL: H3 - Fiscal Policies and Behavior of Economic Agents: General
G1 - (G11, G13, G13) Portfolios, Investments, Asset and Futures Pricing, Trading Volume & Bond Interest Rates
 
Manuscript Received : Jun 17 2019 Manuscript Accepted : Dec 27 2019

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