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Ratings, rating agencies and the global financial system: Summary and policy implications

Reinhart, Carmen and Levich, Richard and Majoni, Giovanni (2002): Ratings, rating agencies and the global financial system: Summary and policy implications.

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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.

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