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Table of contents (7 chapters)
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About this book
Public Credit Rating Agencies argues for the creation of national public credit rating agencies, offering the first in-depth discussion of their implied role and function operating alongside private agencies. Schroeder provides an up-to-date overview of the ratings industry and the government bodies that monitor its activities. She suggests that the proper implementation of public credit rating agencies will promote the stability of lending, further development and adaptation of new technology, and increase labor productivity and the profitability of new investment in businesses. Finally, this book clarifies the inconsistencies that have surfaced between public budgeting and a rating agency's evaluation of national budgets.
Reviews
"The momentum of investment and financing decisions has become increasingly subject to the influence of credit rating agencies. Yet the differing methods they deploy to determine credit worthiness assessments, the variability in their determinations and, above all, the tendencies to overstate risk should prompt serious questions about the influence these agencies have in shaping the dynamics of contemporary capitalism. In this provocative study, Schroeder exposes the potentially damaging consequences of this privileged role. In mounting a powerful case for moderating the influence of credit rating agencies, Schroeder builds upon the heterodox economic tradition to advocate for the establishment of a public agency that would enhance the integrity of credit rating assessments and focus on delivering investment stability." Stuart Rosewarne, Associate Professor of Political Economy, University of Sydney, Australia
"Private security rating agencies are paid by firms wanting to sell securities; understandably they rate securities highly. In this thoughtful book, Susan Schroeder proposes public rating agencies as a policy solution. She argues cogently that this would eliminate conflicts of interest, provide investors with more useful information and help stabilize the economy." Steven Pressman, Professor of Economics and Finance, Monmouth University, USA
About the author
Bibliographic Information
Book Title: Public Credit Rating Agencies
Book Subtitle: Increasing Capital Investment and Lending Stability in Volatile Markets
Authors: Susan K. Schroeder
DOI: https://doi.org/10.1057/9781137359117
Publisher: Palgrave Macmillan New York
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2015
Hardcover ISBN: 978-1-137-36580-4Published: 09 September 2015
eBook ISBN: 978-1-137-35911-7Published: 09 September 2015
Edition Number: 1
Number of Pages: XIII, 196
Topics: Risk Management, Finance, general, Economic Policy, Business Finance, Public Finance, Banking