Sovereign credit risks in Asia and Europe linked to global variables.
The article explores how financial crises affected the credit risk of countries in Asia and Europe. By analyzing data from the 2008-2009 crisis, researchers found that there were common patterns in credit risk among these countries. They also discovered that factors like foreign reserves and stock market performance influenced credit risk differently in Asia and Europe. The study suggests that investors are more concerned about country-specific credit events than overall credit risks in the long term.