Rating Africa: The Economic and Political Content of Risk Indicators

Abstract

This chapter presents results from our ongoing project for evaluating the commercially available, developing-country creditworthiness indicators. Commercial creditworthiness ratings have long been used for the measurement of corporate risk. More recently, country credit ratings compiled by commercial sources have attempted to estimate country-specific risks, particularly the probability that a country will default on its debt servicing obligations. This default risk is measured using country-specific information about political and economic developments that have been identified in theoretical analyses as influencing the ability and willingness to service external debt obligation. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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