Ryan, John (2013) Credit rating agencies: are they credible? International Journal of Public Policy, 9 (1/2). pp. 4-22. ISSN 1740-0600
Full text not available from this repository.Abstract
This paper examines the ongoing reputational crisis of credit rating agencies (CRAs) and asks if the CRAs are playing a credible role in financial markets. The current crisis supports the proposition of scepticism on the credibility of CRAs which did not properly disclose risk and thus contributed to pushing the global financial system to the verge of collapse. There may be a need to restrict the role of CRAs in rating sovereign debt and for increased regulation of CRAs. Credit rating agencies need to be held accountable for their ratings and provide transparency for their methodology. There needs to be more competition for Standard & Poor's, Moody's and Fitch which form an oligopolistic market structure.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.inderscience.com/jhome.php?jcode=ijpp |
| Additional Information: | © 2013 The Author |
| Divisions: | International Relations Centre for International Studies |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | G - Financial Economics > G0 - General > G00 - General G - Financial Economics > G2 - Financial Institutions and Services |
| Date Deposited: | 16 May 2013 12:46 |
| Last Modified: | 12 Dec 2024 00:23 |
| URI: | http://eprints.lse.ac.uk/id/eprint/50279 |
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