01870cas a2200265 a 4500 AALejournalIMF015960 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513516127 1018-5941 BD-DhAAL BD-DhAAL Keita, Kady. Do Financial Markets Value Quality of Fiscal Governance? / Kady Keita, Gene Leon, Frederico Lima. Washington, D.C. : International Monetary Fund, 2019. 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 We examine the link between the quality of fiscal governance and access to market-based external finance. Stronger fiscal governance is associated with improvements in several indicators of market access, including a higher likelihood of issuing sovereign bonds and having a sovereign credit rating, receiving stronger ratings, and obtaining lower spreads. Using the more granular information on quality of fiscal governance from Public Expenditure and Financial Accountability (PEFA) assessments for 89 emerging and developing economies, we find that similar indicators of market access are correlated with sound public financial management practices, especially those that improve budget transparency and reporting, debt management, and fiscal strategy. Mode of access: Internet Leon, Gene. Lima, Frederico. IMF Working Papers; Working Paper ; No. 2019/218 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/218/001.2019.issue-218-en.xml IMF e-Library