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Credit Rating Agencies in Emerging Democracies : Guardians of Fiscal Discipline?

Credit rating agencies have drawn criticism for failing to anticipate and deter root causes of the 2008-2009 financial crisis in the United States. However, this paper presents evidence that credit rating agencies regularly anticipate and deter gov...

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Bibliographic Details
Main Authors: Hanusch, Marek, Vaaler, Paul M.
Language:English
en_US
Published: World Bank, Washington, DC 2013
Subjects:
ACCESS TO CREDIT
ACCOUNTING
BOND ISSUANCES
BOND SPREADS
BORROWER
BUDGET BALANCE
BUDGET BALANCES
BUDGET CYCLE
BUDGET SURPLUSES
BUSINESS CYCLE
BUSINESS CYCLES
CENTRAL BANKS
CHECKS
CIVIL LIBERTIES
CREDIT HISTORIES
CREDIT RATING
CREDIT RATING AGENCIES
CREDIT RATING AGENCY
CREDITWORTHINESS
CURRENCY
CURRENCY CRISIS
DEBT
DEMOCRACY
DEPENDENT
DEVELOPING COUNTRIES
DOMINANT PARTY
ELECTION
ELECTIONS
ELECTORAL SYSTEM
ELECTORAL SYSTEMS
EMERGING DEMOCRACIES
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL MARKET
FINANCIAL SERVICES
FISCAL DEFICIT
FISCAL DISCIPLINE
FISCAL POLICY
FORBEARANCE
FUTURE CREDIT
GOVERNMENT BORROWING
GOVERNMENT BUDGET
GOVERNMENT FINANCES
HOLDING
INDIVIDUAL BOND
INFLATION
INFLATION RATE
INSTRUMENT
INTERNATIONAL AGREEMENTS
INTERNATIONAL BANK
INVESTMENT DECISIONS
LOCAL CURRENCY
MARKET PLAYERS
MARKET SHARES
MONETARY FUND
MORTGAGES
PENSION
PENSION FUNDS
POLICY ENVIRONMENT
POLITICAL BUSINESS CYCLE
POLITICAL BUSINESS CYCLES
POLITICAL ECONOMY
POLITICAL INSTITUTIONS
POLITICAL PARTIES
POLITICAL RIGHTS
PRESIDENTIAL ELECTIONS
REPUDIATION
RESERVES
SOVEREIGN BOND
SOVEREIGN RATING
SOVEREIGN RATINGS
SOVEREIGN RISK
UNEMPLOYMENT RATE
WORLD DEVELOPMENT INDICATORS
Online Access:http://documents.worldbank.org/curated/en/2013/03/17408765/credit-rating-agencies-emerging-democracies-guardians-fiscal-discipline
http://hdl.handle.net/10986/13180

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