Rating the Rating Agencies

Carmen Reinhart, Morris Goldstein and Graciela Kaminsky ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we discuss a small but growing literature that examines to what extent financial markets anticipate crises.

Keywords: credit ratings; default; crisis; downgrades; prediction; banks; currency (search for similar items in EconPapers)
JEL-codes: F3 F31 F32 F34 F36 F4 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (2)

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https://mpra.ub.uni-muenchen.de/24578/1/MPRA_paper_24578.pdf original version (application/pdf)

Related works:
Book: Assessing Financial Vulnerability: An Early Warning System for Emerging Markets (2000)
Working Paper: Notes on contagion (2000)
Working Paper: The Wake of Crises and Devaluations (2000)
Working Paper: Methodology for an Early Warning System: The Signals Approach (2000)
Working Paper: Early Warning System: Empirical Results from The Signals Approach (2000)
Working Paper: Early Warning System: An Assessment of Vulnerability (2000)
Working Paper: Some Policy Issues Regarding an Early Warning System (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:24578

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