Stella Cheung

Author

Staff working papers

Provincial Credit Ratings in Canada: An Ordered Probit Analysis

Staff Working Paper 1996-6 Stella Cheung
The author estimates the relationship between the provincial credit ratings, as assessed by Standard & Poor's, and a number of economic variables, using the ordered probit methodology. All the variables in her estimation prove to be significant. In particular, she finds that downgrades take place at almost the same speed at different levels of the debt-to-GDP ratio, based on a pooled sample of nine provinces.
Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): H, H6, H63

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