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Ratings, rating agencies and the global financial system: Summary and policy implications

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Listed:
  • Reinhart, Carmen
  • Levich, Richard
  • Majoni, Giovanni

Abstract

In this introductory chapter, we begin with a brief overview of the issues that have Motivated our research into the role of credit ratings and credit rating agencies in the global financial system. We then summarize the main themes in each of the papers and highlight the major findings. In the final section, we suggest several policy implications and conclusions that can be drawn from this research.

Suggested Citation

  • Reinhart, Carmen & Levich, Richard & Majoni, Giovanni, 2002. "Ratings, rating agencies and the global financial system: Summary and policy implications," MPRA Paper 13249, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13249
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    References listed on IDEAS

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    1. Veronica Balzarotti & Michael Falkenheim & Andrew Powell, 2002. "On the Use of Portfolio Risk Models and Capital Requirements in Emerging Markets: The Case of Argentina," The World Bank Economic Review, World Bank, vol. 16(2), pages 197-212, August.
    2. Carmen M. Reinhart, 2002. "Default, Currency Crises, and Sovereign Credit Ratings," The World Bank Economic Review, World Bank, vol. 16(2), pages 151-170, August.
    3. Thomas R. Atkinson, 1967. "Trends in Corporate Bond Quality," NBER Books, National Bureau of Economic Research, Inc, number atki67-1, May.
    4. Graciela L. Kaminsky & Richard K. Lyons & Sergio L. Schmukler, 2001. "Mutual Fund Investment in Emerging Markets: An Overview," The World Bank Economic Review, World Bank, vol. 15(2), pages 315-31-340.
    5. W. Braddock Hickman, 1958. "Corporate Bond Quality and Investor Experience," NBER Books, National Bureau of Economic Research, Inc, number hick58-1, May.
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    More about this item

    Keywords

    Rating credit sovereign corporate risk lending;

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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