Sovereign Credit Rating System and Determinants of Short Term Sovereign Risk Evidence From Turkey — Osman Altay

This publication is based on doctoral thesis of the author In this study the sovereign risk of Turkey has been examined analyzing the relations among economic fiscal money market event risk factor variables and sovereign credit rating of Turkey Short term variables associated with the sovereign risk of Turkey have been determined by time series analysis modeling The study consists of two parts In the first part the sovereign credit rating system is explained within the context of the borrowing country risk and credit rating in view of the history and criticism of the system In the second part an empirical study is conducted and results are presented with interpretations and suggestions