01750cas a2200241 a 4500 AALejournalIMF001744 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858051 1018-5941 BD-DhAAL BD-DhAAL Sy, Amadou. Emerging Market Bond Spreads and Sovereign Credit Ratings : Reconciling Market Views with Economic Fundamentals / Amadou Sy. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper uses a panel data estimation of a simple univariate model of sovereign spreads on ratings to analyze statistically significant deviations from the estimated relationship. We find evidence of an asymmetric adjustment of spreads and ratings when such deviations are significant. In addition, the paper illustrates how significant disagreements between market and rating agencies' views can be used as a signal that further technical and sovereign analysis is warranted. For instance, we find that spreads were "excessively low" for most emerging markets before the Asian crisis. More recently, spreads were "excessively high" for a number of emerging markets. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2001/165 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/165/001.2001.issue-165-en.xml IMF e-Library