A NEW PARADIGM FOR THE RATING MARKET - A GEOPOLITICAL PERSPECTIVE ON RATING

Birau Cristian Radu and Stoia Alexandru Cosmin

Annals of Faculty of Economics, 2011, vol. 1, issue 1, 162-166

Abstract: The oligopolistic structure of the global rating market formed by the "Big Three" and doubled by their incapacity to solve problems related to correctly evaluating some of the world's largest economic entities have both set a serious challenge on the rating industry after the onset of the contemporary economic crisis. If both in the E.U. and the U.S. rating agencies are subject to public debate and reform acts, China has defined a particular position by setting up its own rating agency, Dagong Global Credit Rating Co. This article reveals evidence of a geopolitical behavior in a quasi-official domain, which is more a necessity under the current paradigm of the world's economy.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2011:i:1:p:162-166

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