Ratings, Rating Agencies and the Global Financial System (Paperback, Softcover reprint of the original 1st ed. 2002)

Ratings, Rating Agencies and the Global Financial System brings together the research of economists at New York University and the University of Maryland, along with those from the private sector, government bodies, and other universities. The first section of the volume focuses on the historical origins of the credit rating business and its present day industrial organization structure. The second section presents several empirical studies crafted largely around individual firm-level or bank-level data. These studies examine (a) the relationship between ratings and the default and recovery experience of corporate borrowers, (b) the comparability of credit ratings made by domestic and foreign rating agencies, and (c) the usefulness of financial market indicators for rating banks, among other topics. In the third section, the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings is examined. The final section of the volume emphasizes policy issues now facing regulators and credit rating agencies.

General

Imprint:	Springer-Verlag New York
Country of origin:	United States
Series:	The New York University Salomon Center Series on Financial Markets and Institutions, 9
Release date:	March 2013
First published:	2002
Authors:	Richard M. Levich • Giovanni Majnoni • Carmen Reinhart
Dimensions:	235 x 155 x 20mm (L x W x T)
Format:	Paperback
Pages:	379
Edition:	Softcover reprint of the original 1st ed. 2002
ISBN-13:	978-1-4613-5344-7
Categories:	Books > Business & Economics > Economics > Macroeconomics > General Books > Business & Economics > Finance & accounting > Finance > General Books > Money & Finance > General Promotions
LSN:	1-4613-5344-0
Barcode:	9781461353447

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