IMF paper assesses effect of transparency on credit ratings

IMF headquarters in Washington DC

A working paper, published by the International Monetary Fund in June, considers the effect of greater fiscal transparency on sovereign credit ratings.

Authors Elif Arbatli and Julio Escolano develop equations to estimate the direct effects of fiscal transparency, through reduced uncertainty, and indirect effects, through improved economic policy-making. The paper finds that transparency has a "positive and significant" effect on a country's credit rating.

The paper finds that for advanced

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