Hasil Pencarian  ::  Simpan CSV :: Kembali

Abstrak :
Abstrak
The aim of this research is to study the determinants of sovereign credit ratings of Indonesia andits neighborhood countries in the period of 1998-2016. Using secondary data and analyzed usingordered probit, it is found that every credit rating agency has its own variables influencing to itspublished credit ratings.In general, for Indonesia and its neighborhood countries, the variables withsignificant and positive relationship are fiscal balance and current account deficit to GDP, freedomindex, and GDP per capita; while the variables with significant and negative relationship are externaldebt to GNI and real exchange rate. Gross domestic savings to GDP influences credit ratings inboth ways. Interestingly, inflation does not affect the credit ratings. Indonesia and neighborhoodgovernments could use this information to manage their macroeconomic indicators in order to getfavorable ratings from credit rating agencies.

Abstrak :
Getting sovereign credit rating upgrades and achieving investment grade status are main goals for countries in order to gain lower yield spread and cost of borrowing. By using ordinary least square method, this research is aimed to analyze the impact of Indonesia sovereign credit rating upgrade and investment grade status on sovereign spread changes. The result shows that the sovereign credit rating upgrades within speculative grade category and investment grade status for Indonesia do not significantly impact sovereign spread reduction. On the other hand, the global condition, especially global risk appetite, has significant impact to Indonesia sovereign yield spread. The research also indicates that Indonesia macroeconomic fundamentals do not significantly explain the movement of sovereign yield spread.