It takes the average reader and 35 minutes to read Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings by International Monetary Fund
Assuming a reading speed of 250 words per minute. Learn more
We find that Credit Rating Agencies (CRA)''s opinions have an impact in the cost of funding of sovereign issuers and consequently ratings are a concern for financial stability. While ratings produced by the major CRAs perform reasonably well when it comes to rank ordering default risk among sovereigns, there is evidence of rating stability failure during the recent global financial crisis. These failures suggest that ratings should incorporate the obligor''s resilience to stress scenarios. The empirical evidence also supports: (i) reform initiatives to reduce the impact of CRAs'' certification services; (ii) more stringent validation requirements for ratings if they are to be used in capital regulations; and (iii) more transparency with regard to the quantitative parameters used in the rating process.
Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings by International Monetary Fund is 35 pages long, and a total of 8,925 words.
This makes it 12% the length of the average book. It also has 11% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 48 minutes to read Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings aloud.
Are Rating Agencies Powerful? An Investigation Into the Impact and Accuracy of Sovereign Ratings is suitable for students ages 8 and up.
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