Using The Tools of Industrial Organisation to Illuminate The Credit Rating Industry

Lawrence J. White
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Lawrence J. White: New York University

The Japanese Economic Review, 2019, vol. 70, issue 3, No 8, 367-374

Abstract: Abstract Until slightly more than a decade ago, the credit rating industry was largely a little-recognised and little-understood part of the financial system “plumbing”. This obscurity changed with the financial crisis of 2008 and its aftermath. After a few years of intensive attention, however, the CRAs have retreated back to semi-obscurity and attract little media or political attention. The tools of industrial organisation can help us understand this industry: its structure; its behaviour; and its outcomes; and the public policies that are likely to improve its functioning.

Keywords: G14; L59 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1111/jere.12238

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