Sign-In
Cart
A Century of Sovereign Ratings
Hardcover
EconomicsInvesting & FinanceGeneral Political Science
ISBN13: 9781461405221
Publisher: Springer Nature
Published: Sep 20 2011
Pages: 196
Weight: 0.89
Height: 0.65 Width: 6.38 Depth: 9.49
Language: English
The financial difficulties experienced by Greece since 2009 serve as a reminder that countries (i.e., sovereigns) may default on their debt. Many observers considered the financial turmoil was behind us because major advanced countries had adopted stimulus packages to prevent banks from going bankrupt. However, there are rising doubts about the creditworthiness of several advanced countries that participated in the bailouts. In this uncertain context, it is particularly crucial to be knowledgeable about sovereign ratings. This book provides the necessary broad overview, which will be of interest to both economists and investors alike.
Chapter 1 presents the main issues that are addressed in this book. Chapters 2, 3, and 4 provide the key notions to understand sovereign ratings. Chapter 2 presents an overview of sovereign rating activity since the first such ratings were assigned in 1918. Chapter 3 analyzes the meaning of sovereign ratings and the significance of rating scales; it also describes the refinement of credit rating policies and tools. Chapter 4 focuses on the sovereign rating process. Chapters 5 and 6 open the black box of sovereign ratings. Chapter 5 compares sovereign rating methodologies in the interwar years with those in the modern era. After examining how rating agencies have amended their methodologies since the 1990s, Chapter 6 scrutinizes rating disagreements between credit rating agencies (CRAs). Chapters 7 and 8 measure the performances of sovereign ratings by computing default rates and accuracy ratios: Chapter 7 looks at the interwar years and Chapter 8 at the modern era. The two chapters assess which CRA assigns the most accurate ratings during the respective periods. Chapters 9 and 10 compare the perception of sovereign risk by the CRAs and market participants. Chapter 9 focuses on the relation between JP Morgan Emerging Markets Bond Index Global spreads and emerging countries' sovereign ratings for the period 1993-2007.Chapter 10 compares the eurozone members' sovereign ratings with Credit Default Swap-Implied Ratings (CDS-IRs) during the Greek debt crisis of November 2009-May 2010.
Also in
General Political Science
Playing Oppression: The Legacy of Conquest and Empire in Colonialist Board Games
Flanagan, Mary
Jakobsson, Mikael
Hardcover
Capitalism and the Camera: Essays on Photography and Extraction
Coleman, Kevin
James, Daniel
Paperback
Imagined Communities: Reflections on the Origin and Spread of Nationalism
Anderson, Benedict Richard O'Gorman
Paperback
The Craftivist Collective Handbook: Projects, Stories and Methods for Your Gentle Protests
Corbett, Sarah P.
Hardcover
Guerrilleros and Neighbours in Arms: Identities & Cultures of Anti-Fascist Resistance in Spain
Marco
Paperback
Battling the Big Lie: How Fox, Facebook, and the Maga Media Are Destroying America
Pfeiffer, Dan
Hardcover
Urban Revolutions: Urbanisation and (Neo-)Colonialism in Transatlantic Context
Kipfer, Stefan
Paperback
Nonstate Warfare: The Military Methods of Guerillas, Warlords, and Militias
Biddle, Stephen
Hardcover
By the Light of Burning Dreams: The Triumphs and Tragedies of the Second American Revolution
Talbot, David
Talbot, Margaret
Hardcover
An Enemy Such as This: Larry Casuse and the Fight for Native Liberation in One Family on Two Continents Over Three Centuries
Correia, David
Hardcover
Democracy Incorporated: Managed Democracy and the Specter of Inverted Totalitarianism
Wolin, Sheldon S.
Paperback
Everyday Life and Politics in Nineteenth Century Mexico: Men, Women, and War
Wasserman, Mark
Paperback
With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful
Greenwald, Glenn
Hardcover
Doing History from the Bottom Up: On E.P. Thompson, Howard Zinn, and Rebuilding the Labor Movement from Below
Lynd, Staughton
Paperback
Broken News: Why the Media Rage Machine Divides America and How to Fight Back
Stirewalt, Chris
Paperback
China Wakes: The Struggle for the Soul of a Rising Power
Kristof, Nicholas D.
Wudunn, Sheryl
Paperback
The Clash of Globalizations: Neo-Liberalism, the Third Way and Anti-Globalization
Kiely, Ray
Paperback
Regime Change: Inside the Imperial Presidency of Donald Trump
Swan, Jonathan
Haberman, Maggie
Hardcover
American Scoundrel: Roy Cohn's Dark Journey from Joe McCarthy to Donald Trump
Bird, Kai
Goldmark, Susan
Hardcover
The U.S. Constitution: A Comprehensive and Annotated Guide for the Modern Reader
Murray, Melissa
Hardcover
Live Laugh Love: The Secret History of White Christian Women and the World They Made
Kobes Du Mez, Kristin
Hardcover
Wtf America?!: The Way Out of This Hell and Back to Democracy
Meiselas, Ben
Meiselas, Brett
Meiselas, Jordy
Hardcover
Ordinary People, Extraordinary Times: How to Reclaim Your Power, Fight for Freedom, and Reimagine Democracy
Perryman, Skye
Paperback
The Counterrevolution: The Fall and Rise of Donald Trump and the Maga Movement
Hanson, Victor Davis
Hardcover
The Hundred Years' War on Palestine: A History of Settler Colonialism and Resistance, 1917-2017
Khalidi, Rashid
Paperback
The Elijah Mandate: A Call to Courageous Faith in a Hostile World
Tsarfati, Amir
Piflaks, Tolik
Paperback
American Struggle: Democracy, Dissent, and the Pursuit of a More Perfect Union: An Anthology
Meacham, Jon
Hardcover
Not Today, Fascists: The Lies That Got Us Here, and the Truths That Will Reunite Us
Welch, Jennifer
Hardcover
The Steal: Four Right-Wing Hard-Liners, One Republican Presidency, and the Raid on America's Courts
Wagner, Alex
Hardcover
The Crooked Places Made Straight: Reflections on the Moral Meaning of America
Warnock, Raphael G.
Hardcover
Into the Wood Chipper: A Whistleblower's Account of How the Trump Administration Shredded Usaid
Enrich, Nicholas
Hardcover
Pay Attention: How the Algorithms and Media Wars Are Suppressing Truth and Rewiring Your Brain
Pakman, David
Hardcover
The Lost Founder: James Wilson and the Forgotten Fight for a People's Constitution
Wegman, Jesse
Hardcover
So Ordered: An Originalist's View of the Constitution, the Court, and Our Country
Alito, Samuel A., Jr.
Hardcover
There Is No Place for Us: Working and Homeless in America (Pulitzer Prize Winner)
Goldstone, Brian
Paperback
The Jakarta Method: Washington's Anticommunist Crusade and the Mass Murder Program That Shaped Our World
Bevins, Vincent
Paperback
If Anyone Builds It, Everyone Dies: Why Superhuman AI Would Kill Us All
Yudkowsky, Eliezer
Soares, Nate
Hardcover
The New Dark Ages: The Death of Reading and the Dawn of the Post-Literate Society
Marriott, James
Hardcover
Princes and Thieves: Jared Kushner and Mohamed Bin Zayed's Secret Plot to Remake the Middle East
Cole, Matthew
Hardcover
Country of Lords: Neo-Aristocrats, Social Darwinists, Tech Utopians, and the Long Fight Against Equality in America
Phillips-Fein, Kim
Hardcover
Last Branch Standing: A Potentially Surprising, Occasionally Witty Journey Inside Today's Supreme Court
Isgur, Sarah
Hardcover
The Invisible Coup: How American Elites and Foreign Powers Use Immigration as a Weapon
Schweizer, Peter
Hardcover
The Last Free Women: A Daring Escape from Afghanistan and Coming of Age in America
Kapp, Diana
Blumenstein, Rebecca
Hardcover
All the Wrong Moves: How Three Catastrophic Decisions Led to the Rise of Trump
Scaramucci, Anthony
Hardcover
Anti-Fascist Economics: In Defense of Affordability, Dignity, and Democracy
Weber, Isabella
Hardcover
The College Scam: How America's Universities Are Bankrupting and Brainwashing Away the Future of America's Youth
Kirk, Charlie
Hardcover
The Origins of Totalitarianism: With a New Introduction by Anne Applebaum
Arendt, Hannah
Applebaum, Anne
Paperback