The role of rating agencies in international financial market

Theoretical and Applied Economics

卷:XXII

Emilian-Constantin MIRICESCU¹ 

[1] Bucharest University of Economic Studies, Romania;

关键词: sovereign rating;    rating agency;    financial market;    informational asymmetry;    globalization;   

DOI  :  

来源: DOAJ

【 摘 要 】

In the context of financial markets globalization, the role of rating agencies andcredit ratings expanded sharply. Standard & Poor’s awarded in the late 70’s ratings onlyfor 12 countries and currently it assigned ratings for 129 countries. Global rating agenciesStandard & Poor’s, Moody’s and Fitch publish long term sovereign ratings and short termsovereign ratings. The role of sovereign ratings is the decrease of informational asymmetrybetween borrowers (countries) – acting as issuers and lenders – acting as investors. In thispaper I will analyse sovereign rating definition and I will explain the importance of ratingagencies.

【 授权许可】

Unknown