| Record Type: |
Electronic resources
: monographic
|
| Title Information: |
credit rating agencies and global financial governance |
| Author: |
KruckAndreas, 1981- |
| Secondary Intellectual Responsibility: |
Palgrave Connect (Online service) |
| Place of Publication: |
New York |
| Published: |
Palgrave Macmillan; |
| Year of Publication: |
2011 |
| Description: |
1 online resource (xvi, 205 p.)ill. : |
| Series: |
Transformations of the state series |
| Subject: |
Credit ratings. - |
| Subject: |
Credit bureaus. - |
| Subject: |
International finance. - |
| Subject: |
BUSINESS & ECONOMICS - Finance. - |
| Online resource: |
http://www.palgraveconnect.com/doifinder/10.1057/9780230307384An electronic book accessible through the World Wide Web; click for information |
| Notes: |
Description based on print version record. |
| Summary: |
Credit rating agencies play a powerful and highly contentious role in the governance of global financial markets. In the decades before the Global Financial Crisis of 2007-10, market actors as well as public regulators clme to increasingly rely on the credit risk assessments provided by private rating agencies. States and international bodies made use of credit ratings for a range of regulatory purposes, thus transferring (quasi- )regulatory authority to the agencies. This book introduces an original neoinstitutionalist framework to explain common trends and cross-country differences in the transfer of (quasi- )regulatory authority to rating agencies and to analyze regulatory reforms after the Financial Crisis. The proposed framework helps to account for state-sanctioned and bolstered modes of private governance far beyond the case of ratings-dependent regulation. It therefore contributes to a better understanding of the changing role of the state and the causes and conditions of the transfer of political authority to private actors. |
| ISBN: |
9780230307384electronic bk. |
| ISBN: |
0230307388electronic bk. |
| ISBN: |
9780230282230Cloth |
| ISBN: |
0230282237Cloth |
| Content Note: |
Introduction: Private Ratings and Public Purposes The Regulatory Use of Credit Ratings: Overview and Conceptualization The Theoretical Model: An Embedded Resource Dependence View on Delegation Explaining Trend and Variation in the Regulatory Use of Credit Ratings Making Sense of the Role of External Ratings in Basel II Conclusion and Outlook: After the Crisis. |