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Carmen Reinhart - One of the best experts on this subject based on the ideXlab platform.

  • ratings rating agencies and the Global Financial System
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    List of Contributors. Preface. Introduction. Ratings, Rating Agencies and the Global Financial System: Summary and Policy Implications R.M. Levich, et al. Part 1: History, Value and Industrial Structure of Credit Rating and Reporting Agencies. 1. A Historical Primer on the Business of Credit Rating R. Sylla. 2. The Credit Rating Industry: An Industrial Organization Analysis L.J. White. 3. The Paradox of Credit Ratings F. Partnoy. Part 2: Empirical Evidence on Credit Rating Agencies: Pricing and Regulatory Aspects. 4. The Role of Credit Ratings In Bank Capital E.I. Altman, A. Saunders. 5. A Policymaker's Guide to Choosing Absolute Capital Requirements Mark Cary. 6. Credit Ratings and the Japanese Corporate Bond Market F. Packer. 7. How Good is the Market at Assessing Bank Fragility: A Horse Race Between Different Indicators P. Bongini, et al. 8. Rating Banks in Emerging Markets: What Banks Should Learn from Financial Indicators L. Rojas-Suarez. Part 3: Empirical Evidence on Credit Ratings Agency's Performance: Macroeconomic Aspects. 9. Emerging Stock Market Instability: Do Sovereign Ratings Affect Country Risk and Stock Returns? G. Kaminsky, S. Schmukler. 10. Sovereign Credit Ratings before and After Financial Crises C.M. Reinhart. 11. Equity Risk Premiums A. Damodaran. Part 4: Policy Issues Facing Regulators and Credit Rating Agencies. 12. Rating Agencies: Is There an Agency Issue? R.C. Smit, I. Walter. 13. Do Banks Provision for Bad Loans in Good Times? M. Cavallo, G.Majnoni. 14. Policy Issues Facing Rating Agencies J.S. Fons. 15. Credit Risk and Financial Instability R.J. Herring. Index.

  • ratings rating agencies and the Global Financial System
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    List of Contributors. Preface. Introduction. Ratings, Rating Agencies and the Global Financial System: Summary and Policy Implications R.M. Levich, et al. Part 1: History, Value and Industrial Structure of Credit Rating and Reporting Agencies. 1. A Historical Primer on the Business of Credit Rating R. Sylla. 2. The Credit Rating Industry: An Industrial Organization Analysis L.J. White. 3. The Paradox of Credit Ratings F. Partnoy. Part 2: Empirical Evidence on Credit Rating Agencies: Pricing and Regulatory Aspects. 4. The Role of Credit Ratings In Bank Capital E.I. Altman, A. Saunders. 5. A Policymaker's Guide to Choosing Absolute Capital Requirements Mark Cary. 6. Credit Ratings and the Japanese Corporate Bond Market F. Packer. 7. How Good is the Market at Assessing Bank Fragility: A Horse Race Between Different Indicators P. Bongini, et al. 8. Rating Banks in Emerging Markets: What Banks Should Learn from Financial Indicators L. Rojas-Suarez. Part 3: Empirical Evidence on Credit Ratings Agency's Performance: Macroeconomic Aspects. 9. Emerging Stock Market Instability: Do Sovereign Ratings Affect Country Risk and Stock Returns? G. Kaminsky, S. Schmukler. 10. Sovereign Credit Ratings before and After Financial Crises C.M. Reinhart. 11. Equity Risk Premiums A. Damodaran. Part 4: Policy Issues Facing Regulators and Credit Rating Agencies. 12. Rating Agencies: Is There an Agency Issue? R.C. Smit, I. Walter. 13. Do Banks Provision for Bad Loans in Good Times? M. Cavallo, G.Majnoni. 14. Policy Issues Facing Rating Agencies J.S. Fons. 15. Credit Risk and Financial Instability R.J. Herring. Index.

  • ratings rating agencies and the Global Financial System summary and policy implications
    MPRA Paper, 2002
    Co-Authors: Carmen Reinhart, Richard M Levich, Giovanni Majoni
    Abstract:

    In this introductory chapter, we begin with a brief overview of the issues that have Motivated our research into the role of credit ratings and credit rating agencies in the Global Financial System. We then summarize the main themes in each of the papers and highlight the major findings. In the final section, we suggest several policy implications and conclusions that can be drawn from this research.

  • introduction ratings rating agencies and the Global Financial System summary and policy implications
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    In this introductory chapter, we begin with a brief overview of the issues that have motivated our research into the role of credit ratings and credit rating agencies in the Global Financial System. We then summarize the main themes in each of the papers and highlight the major findings. In the final section, we suggest several policy implications and conclusions that can be drawn from this research.

Erik Denters - One of the best experts on this subject based on the ideXlab platform.

  • regulation and supervision of the Global Financial System a proposal for institutional reform
    Social Science Research Network, 2009
    Co-Authors: Erik Denters
    Abstract:

    International Financial markets are supervised primarily by national authorities. However, national authorities are inherently incapable to regulate and supervise seamless Globalised Financial markets. To the extent international regulators exist, they constitute a disorderly patchwork of institutions. A proposal is made to create a System of regulators and supervisors under the umbrella of the World Financial Organisation. The WFO would encompass existing institutions and enhances international supervision through mandatory co-operation. The WFO streamlines supervisory activities, prevents overlap and lacunae, creates hierarchy and allocates responsibilities. The WFO would exercise its authority both over states and non-state actors, i.e. Financial markets.

  • regulation and supervision of the Global Financial System
    Amsterdam Law Forum, 2009
    Co-Authors: Erik Denters
    Abstract:

    International Financial markets are supervised primarily by national authorities. However, national authorities are inherently incapable to regulate and supervise seamless Globalised Financial markets. To the extent international regulators exist, they constitute a disorderly patchwork of institutions. A proposal is made to create a System of regulators and supervisors under the umbrella of the World Financial Organisation. The WFO would encompass existing institutions and enhances international supervision through mandatory co-operation. The WFO streamlines supervisory activities, prevents overlap and lacunae, creates hierarchy and allocates responsibilities. The WFO would exercise its authority both over states and non-state actors, i.e. Financial markets.

James Ming Chen - One of the best experts on this subject based on the ideXlab platform.

  • book review soft law and the Global Financial System rule making in the twenty first century
    Social Science Research Network, 2011
    Co-Authors: James Ming Chen
    Abstract:

    In Soft Law and the Global Financial System: Rule-Making in the Twenty-First Century (2011), Christopher J. Brummer provides a detailed and informative analysis of the international regulatory response to the Global Financial crisis of 2008. This accomplishment alone warrants a close look at this book. But Professor Brummer goes further in this pivotal work on the law of international finance. He provides a persuasive theoretical account of international Financial law. Soft Law and the Global Financial System not only describes the mechanisms of lawmaking and standard-setting for Global Financial markets, but also delivers a workable framework for prescribing and perhaps even perfecting the regulation of the world’s most vital and volatile economic institutions.

Richard M Levich - One of the best experts on this subject based on the ideXlab platform.

  • ratings rating agencies and the Global Financial System
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    List of Contributors. Preface. Introduction. Ratings, Rating Agencies and the Global Financial System: Summary and Policy Implications R.M. Levich, et al. Part 1: History, Value and Industrial Structure of Credit Rating and Reporting Agencies. 1. A Historical Primer on the Business of Credit Rating R. Sylla. 2. The Credit Rating Industry: An Industrial Organization Analysis L.J. White. 3. The Paradox of Credit Ratings F. Partnoy. Part 2: Empirical Evidence on Credit Rating Agencies: Pricing and Regulatory Aspects. 4. The Role of Credit Ratings In Bank Capital E.I. Altman, A. Saunders. 5. A Policymaker's Guide to Choosing Absolute Capital Requirements Mark Cary. 6. Credit Ratings and the Japanese Corporate Bond Market F. Packer. 7. How Good is the Market at Assessing Bank Fragility: A Horse Race Between Different Indicators P. Bongini, et al. 8. Rating Banks in Emerging Markets: What Banks Should Learn from Financial Indicators L. Rojas-Suarez. Part 3: Empirical Evidence on Credit Ratings Agency's Performance: Macroeconomic Aspects. 9. Emerging Stock Market Instability: Do Sovereign Ratings Affect Country Risk and Stock Returns? G. Kaminsky, S. Schmukler. 10. Sovereign Credit Ratings before and After Financial Crises C.M. Reinhart. 11. Equity Risk Premiums A. Damodaran. Part 4: Policy Issues Facing Regulators and Credit Rating Agencies. 12. Rating Agencies: Is There an Agency Issue? R.C. Smit, I. Walter. 13. Do Banks Provision for Bad Loans in Good Times? M. Cavallo, G.Majnoni. 14. Policy Issues Facing Rating Agencies J.S. Fons. 15. Credit Risk and Financial Instability R.J. Herring. Index.

  • ratings rating agencies and the Global Financial System
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    List of Contributors. Preface. Introduction. Ratings, Rating Agencies and the Global Financial System: Summary and Policy Implications R.M. Levich, et al. Part 1: History, Value and Industrial Structure of Credit Rating and Reporting Agencies. 1. A Historical Primer on the Business of Credit Rating R. Sylla. 2. The Credit Rating Industry: An Industrial Organization Analysis L.J. White. 3. The Paradox of Credit Ratings F. Partnoy. Part 2: Empirical Evidence on Credit Rating Agencies: Pricing and Regulatory Aspects. 4. The Role of Credit Ratings In Bank Capital E.I. Altman, A. Saunders. 5. A Policymaker's Guide to Choosing Absolute Capital Requirements Mark Cary. 6. Credit Ratings and the Japanese Corporate Bond Market F. Packer. 7. How Good is the Market at Assessing Bank Fragility: A Horse Race Between Different Indicators P. Bongini, et al. 8. Rating Banks in Emerging Markets: What Banks Should Learn from Financial Indicators L. Rojas-Suarez. Part 3: Empirical Evidence on Credit Ratings Agency's Performance: Macroeconomic Aspects. 9. Emerging Stock Market Instability: Do Sovereign Ratings Affect Country Risk and Stock Returns? G. Kaminsky, S. Schmukler. 10. Sovereign Credit Ratings before and After Financial Crises C.M. Reinhart. 11. Equity Risk Premiums A. Damodaran. Part 4: Policy Issues Facing Regulators and Credit Rating Agencies. 12. Rating Agencies: Is There an Agency Issue? R.C. Smit, I. Walter. 13. Do Banks Provision for Bad Loans in Good Times? M. Cavallo, G.Majnoni. 14. Policy Issues Facing Rating Agencies J.S. Fons. 15. Credit Risk and Financial Instability R.J. Herring. Index.

  • ratings rating agencies and the Global Financial System summary and policy implications
    MPRA Paper, 2002
    Co-Authors: Carmen Reinhart, Richard M Levich, Giovanni Majoni
    Abstract:

    In this introductory chapter, we begin with a brief overview of the issues that have Motivated our research into the role of credit ratings and credit rating agencies in the Global Financial System. We then summarize the main themes in each of the papers and highlight the major findings. In the final section, we suggest several policy implications and conclusions that can be drawn from this research.

  • introduction ratings rating agencies and the Global Financial System summary and policy implications
    2002
    Co-Authors: Richard M Levich, Giovanni Majnoni, Carmen Reinhart
    Abstract:

    In this introductory chapter, we begin with a brief overview of the issues that have motivated our research into the role of credit ratings and credit rating agencies in the Global Financial System. We then summarize the main themes in each of the papers and highlight the major findings. In the final section, we suggest several policy implications and conclusions that can be drawn from this research.

Gokce Olcum - One of the best experts on this subject based on the ideXlab platform.

  • interest rate smoothing and macroeconomic instability under post capital account liberalization turkey
    Canadian Journal of Development Studies, 2010
    Co-Authors: Hasan Comert, A Yeldan, Gokce Olcum
    Abstract:

    Abstract This paper considers the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) in the post-Financial liberalization and deregulation era. We find that (1) the Bank's interest rate smoothing tendency is the main determinant of its monetary policy in this period, (2) the CBRT does not seem to be responsive to the developments in real economy (output), and (3) although inflation targeting central banks are not supposed to pay attention to exchange rates, the CBRT appears to be slightly responsive to changes in real exchange rate. In answer to the question of whether there is a deeper underlying structural constraint binding the CBRT's “independence,” it seems clear that the Global Financial System is restricting the ability of the central banks to pursue “independent” policy objectives.