Friends for the benefits: The effects of political ties on sovereign borrowing conditions

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dc.contributor Bank of Finland
dc.contributor.author Ambrocio, Gene
dc.contributor.author Hasan, Iftekhar
dc.date.accessioned 2019-07-22T11:20:26Z
dc.date.available 2019-07-22T11:20:26Z
dc.date.issued 2019
dc.identifier.isbn 978-952-323-282-2
dc.identifier.issn 1456-6184
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/16211
dc.description.abstract Do closer political ties with a global superpower improve sovereign borrowing conditions? We use data on voting at the United Nations General Assembly along with foreign aid flows to construct an index of political ties and find evidence that suggests closer political ties leads to both better sovereign credit ratings and lower yields on sovereign bonds. We use heads-of-state official visits and coalition forces troop contributions as exogenous instruments to further strengthen the findings.
dc.format.extent 28
dc.language.iso ENG
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject ulkomaanapu
dc.subject poliittiset siteet
dc.subject Yhdistyneet kansakunnat (YK)
dc.subject.other Political economy
dc.subject.other Sovereign borrowing
dc.subject.other Foreign aid
dc.subject.other UN voting
dc.title Friends for the benefits: The effects of political ties on sovereign borrowing conditions
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-201907221301
dc.subject.jel F50
dc.subject.jel F35
dc.subject.jel H63
dc.subject.jel G24
dc.series.name Bank of Finland Research Discussion Papers
dc.series.year 2019
dc.series.number 13/2019
dc.series.sortingnumber 0013
dc.date.publication 22.7.2019
dc.subject.yso politiikka
dc.subject.yso valtionvelka
dc.subject.yso äänestykset
dc.subject.yso luottoluokitukset
bof-internal.includedInCRIS 1
dc.type.okm D4

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