Oil and Gas, which is the Belle of the Ball ? The Impact of Oil and Gas Reserves on Sovereign Risk - HAL-SHS - Sciences de l'Homme et de la Société Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2015

Oil and Gas, which is the Belle of the Ball ? The Impact of Oil and Gas Reserves on Sovereign Risk

Résumé

Using panel data from emerging oil and gas exporting countries, this paper investigates whether oil and gas reserves have a significant impact on sovereign spreads. The main findings are that oil and gas reserves affect differently financial markets. Indeed, oil reserves increase spreads, contrary to gas reserves that lower them. The evidence shows that financial markets' reaction depends also on institutional quality. When interactions with institutional variables are introduced, financial markets give more importance to political stability and corruption for oil reserves than gas reserves.
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Dates et versions

halshs-01211506 , version 1 (05-10-2015)

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  • HAL Id : halshs-01211506 , version 1

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Emma Hooper. Oil and Gas, which is the Belle of the Ball ? The Impact of Oil and Gas Reserves on Sovereign Risk. 2015. ⟨halshs-01211506⟩
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