Do financial markets reward government spending efficiency?

We link governments’ spending efficiency scores, to sovereign debt assessments made by financial markets´, more specifically by three rating agencies (Standard & Poors, Moody´s and Fitch). Public efficiency scores are computed via data envelopment analysis. Then, we rely notably on ordered respo...

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Bibliographic Details
Main Author: Afonso, António (author)
Other Authors: Jalles, João Tovar (author), Venâncio, Ana (author)
Format: workingPaper
Language:eng
Published: 2021
Subjects:
government spending efficiency
DEA
panel analysis
ordered probit (logit)
sovereign ratings
rating agencies
Online Access:http://hdl.handle.net/10400.5/21167
Country:Portugal
Oai:oai:www.repository.utl.pt:10400.5/21167

Internet

http://hdl.handle.net/10400.5/21167

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