Die Rolle von Kredit-Ratings im Rahmen der Bankenregulierung. Kredit-Ratings antizipieren Währungsrisiken unzureichend
This contribution analyses whether the behaviour of rating agencies has changed since their failure to predict the Asian crisis. The paper finds no robust econometric evidence that rating agencies have started to take micro-mismatches into account when assigning sovereign ratings. Thus, given the current approach of credit rating agencies, we have reservations concerning the effectiveness of Basel II to prevent the transmission from currency crises to banking crises for potential future crises.
Volume (Year): 13 (2007)
Issue (Month): 10 ()
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