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Dampak pencapaian peringkat kredit "investment grade" Indonesia terhadap cost of borrowing surat utang negara (SUN)

In the midst of global uncertainty, the ?investment grade? rating achievement at the end of 2011 and early 2012 has boosted optimistic sentiment to the surge of foreign capital flows and the decrease of borrowing cost for domestic investment activities. Empirical studies showed that this achievement would decrease the spread of sovereign bonds significantly along with the decline of probability of default and the rise of investor base. Impulse Response, using daily transaction data tested with GARCH method, showed that sovereign spread would drop up to 80bps in 23 days since Moody?s announcement on 18 January 2012. The global factor that also has significant influence to spread is global risk indicator. Spread would increase until 30 bps if there was 10 points rise in VIX Index. These results remind us the importance of having strong and resilience economic growth, socio-political stability, and macroeconomic stability supported by prudent fiscal and monetary policy, external factor sustainability, and improved investment climate..

Ketersediaan

Call NumberLocationAvailable
PSB lt.2 - Karya Akhir1
Penerbit Jurnal BPPK.,
Edisi -
Subjek Investment
Financial market
Credit Rating
Sovereign debt
International lending
Debt problem
ISBN/ISSN -
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
Other Version/Related Tidak tersedia versi lain
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