CDS Primleri ile Ülke Kredi Riski Arasındaki İlişkinin Değerlendirilmesi; Türkiye Örneği

It is essential that sovereign credit risk is adequately evaluated in the decision making process of international investors in the form of foreign direct investment and portfolio investments. CDS 1 Dr., Trakya Üniversitesi, Uygulamalı Bilimler Yüksekokulu, Bankacılık ve Sigortacılık Bölümü, esra.kilci@gmail.com, , orcid.org/0000-0002-2239-4560. 72 Maliye Finans Yazıları 2017 (108), 71-86 spreads are significantly used in measuring the sovereign credit risk and evaluating the risk appetite of foreign investors against the country. In this study, the relationship between macroeconomic and financial indicators which lead to increase in sovereign credit risk of Turkey and CDS spreads is analyzed with the help of an econometric application and tested that the variables are cointegrated or not.