Faculty Publications

Title

Moody's ratings and regionalization: State government general obligation bonds

Document Type

Article

Journal/Book/Conference Title

Journal of Economics and Finance

Volume

16

Issue

3

First Page

57

Last Page

72

Abstract

For the period 1930, 1931, 1937-1987, the Scheffe's test provides evidence of regionalization in Moody's ratings of state government general obligation bonds. Sub-period analysis indicates a reduction in the extent of regionalization over time. Findings suggest this may be due to a change in the criteria used in rating such bonds. However, further study is necessary on this topic. The results also suggest that further study is necessary on the question of why two political-economic variables show no regionalization and the meaning of this finding to bond ratings. © 1992 Springer.

Original Publication Date

9-1-1992

DOI of published version

10.1007/BF02920309

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