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How Singapore’s Sovereign Debt Risk Has Changed from 2016 to 2021

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  • Tara Kou

Abstract

In this paper, I build an economic model and adapt it to fit Singapore’s economic and historical background. My empirical analysis is based on data about external debt to GDP, foreign investment, and net export products and partners. But I also address concerns about risk factors coming from covid and the oil crisis. In my analysis, even in the worst case, Singapore is not going to be worse than the Netherlands in the IIR rating, which corresponds to an IIR rating of 90. In contrast to my baseline, risk assessment for Singapore is a rating of 93.

Suggested Citation

  • Tara Kou, 2022. "How Singapore’s Sovereign Debt Risk Has Changed from 2016 to 2021," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(1), pages 1-91, January.
    • Handle: RePEc:ibn:ijefaa:v:14:y:2022:i:1:p:91
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    2. Latham, A. J. H., 1997. "The Economic Growth of Singapore: Trade and Development in the Twentieth Century. By W. G. Huff · Cambridge, U.K.: Cambridge University Press, 1994. Paperback, 1997. xxi + 472 pp. Figures, maps, table," Business History Review, Cambridge University Press, vol. 71(4), pages 642-643, January.
    3. Huff,W. G., 1997. "The Economic Growth of Singapore," Cambridge Books, Cambridge University Press, number 9780521629447, January.
    4. Anusha Chari & Ryan Leary & Toan Phan, 2017. "The Costs of (sub)Sovereign Default Risk: Evidence from Puerto Rico," NBER Working Papers 24108, National Bureau of Economic Research, Inc.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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