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Rating agencies and sovereign credit risk assessment

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  • Nicolas Véron
  • Guntram B. Wolff

Abstract

Credit rating agencies (CRAs) have not consistently met the expectations placed on them by investors and policymakers. It is difficult, however, to improve the quality of ratings through regulatory initiatives. In the short term, changes to the CRAs’ regulatory environment, in a context of high market uncertainty, may add to market stress. The role of credit ratings in regulation should be reduced but eliminating it entirely would have significant downsides,...

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  • Nicolas Véron & Guntram B. Wolff, 2011. "Rating agencies and sovereign credit risk assessment," Policy Contributions 658, Bruegel.
    • Handle: RePEc:bre:polcon:658
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    Cited by:

    1. Cihak, Martin & Demirguc-Kunt, Asli & Johnston, R. Barry, 2013. "Incentive audits : a new approach to financial regulation," Policy Research Working Paper Series 6308, The World Bank.
    2. Panos Gavras & Sofoklis D. Vogiazas & Maria Koura, 2016. "An Empirical Assessment of Sovereign Country Risk in the Black Sea Region," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(1), pages 77-93, February.

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