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Using Basel II to Facilitate Access to Finance: The Disclosure of Internal Credit Ratings

Gérard Hertig

in Corporate Governance in Context: Corporations, States, and Markets in Europe, Japan, and the US

Published in print:
2005
Published Online:
March 2012
ISBN:
9780199290703
eISBN:
9780191700576
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199290703.003.0026
Subject:
Law, Company and Commercial Law

This chapter argues that it is possible to design a regulatory framework under which the benefits of mandatory rating disclosure clearly outweigh its costs, which in turn should minimize interest ... More


Public Debt and Multilevel Statehood: Sub-National Fiscal Governance, Structural Imbalances, and ‘Stand-Alone’ Fiscal Capacity

Kenneth Dyson

in States, Debt, and Power: 'Saints' and 'Sinners' in European History and Integration

Published in print:
2014
Published Online:
August 2014
ISBN:
9780198714071
eISBN:
9780191782558
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198714071.003.0017
Subject:
Political Science, European Union

This chapter examines sovereign creditworthiness as a problem in building sub-national fiscal capacity; why it matters; why it generates controversy about its purpose; and how it relates to historic ... More


Information as a condition of justice in financial markets: The regulation of credit-rating agencies

Boudewijn de Bruin

in Just Financial Markets?: Finance in a Just Society

Published in print:
2017
Published Online:
May 2017
ISBN:
9780198755661
eISBN:
9780191816789
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198755661.003.0011
Subject:
Political Science, Political Economy

This chapter argues for deregulation of the credit-rating market. Credit-rating agencies are supposed to contribute to the informational needs of investors trading bonds. They provide ratings of debt ... More


A Recipe for Ratings Reform

Charles W. Calomiris

in The Economists' Voice 2.0: The Financial Crisis, Health Care Reform, and More

Published in print:
2014
Published Online:
November 2015
ISBN:
9780231160155
eISBN:
9780231504324
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231160155.003.0011
Subject:
Economics and Finance, Public and Welfare

This chapter considers the role of credit ratings agencies in the recent financial crisis. The evidence of rating agency failure shows up in inflated ratings and low-quality ratings. The inflation of ... More


Rating Reports as Figuring Documents: How Credit Rating Agencies Build Scenarios of the Future

Pierre Pénet

in Making Things Valuable

Published in print:
2015
Published Online:
October 2015
ISBN:
9780198712282
eISBN:
9780191780769
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198712282.003.0004
Subject:
Business and Management, Knowledge Management, Organization Studies

This chapter investigates the techniques credit rating agencies (CRAs) use to produce sovereign ratings. In market environments typical of times of crisis, CRAs do more than simply collect additional ... More


Currency Mismatches, Debt Intolerance, and Original Sin: Why They Are Not the Same and Why It Matters

Barry Eichengreen, Ricardo Hausmann, and Ugo Panizza

in Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226184975
eISBN:
9780226184999
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226184999.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explores the role of balance sheet effects in financial crises. The data suggest that original sin is robustly associated with country size and with countries' status as financial ... More


Ranking games

Péter Érdi

in Ranking: The Unwritten Rules of the Social Game We All Play

Published in print:
2019
Published Online:
September 2019
ISBN:
9780190935467
eISBN:
9780190935498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190935467.003.0006
Subject:
Psychology, Social Psychology

This chapter starts with a discussion of the magic power of round numbers and left-digit effects, and it then deals with two popular ranking games concerning colleges and countries. A recurring theme ... More


The Pain of Original Sin

Barry Eichengreen, Ricardo Hausmann, and Ugo Panizza (eds)

in Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226194554
eISBN:
9780226194578
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226194578.003.0002
Subject:
Economics and Finance, International

This chapter shows that the composition of external debt—and specifically the extent to which that debt is denominated in foreign currency—is a key determinant of the stability of output, the ... More


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