Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings »
Journal Issue
Volume/Issue: 2012/23
Series: IMF Working Papers
Author(s): John Kiff , Sylwia Nowak , and Liliana Schumacher
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2012
DOI: http://dx.doi.org/10.5089/9781463931858.001
ISBN: 9781463931858
Keywords: Sovereign ratings, rating agencies, credit ratings, asian crisis, emerging markets, An Investigation into the Impact and Accuracy of Sovereign Ratings, Financial Institutions and Services: General, Corporate Finance and Governance: Government Policy and Regulation,
We find that Credit Rating Agencies (CRA)'s opinions have an impact in the cost of funding of sovereign issuers and consequently ratings are a concern for financial stability. While ratings produced by the major CR...