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PUBLIC SECTOR CREDIT RATING AGENCIES – A CONTRIBUTION TO A MORE STABLE GLOBAL FINANCIAL ARCHITECTURE

PUBLIC SECTOR CREDIT RATING AGENCIES – A CONTRIBUTION TO A MORE STABLE GLOBAL FINANCIAL ARCHITECTURE The design of a more stable global financial architecture is currently the most important topic on the international agenda. But compared to the dimensions of the financial crisis, the solutions that have been put forward seem rather modest. While there is no doubt that more transparency as well as better designed and stronger capital buffers will help to make the global financial system more stable, it is far from clear whether such a piecemeal approach will help to prevent major crises in the future. The almost unlimited government support of banks in the current situation raises the stakes even higher and has increased the incentive problems facing bank depositors and lenders. JEL: F01, F30, R53 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

PUBLIC SECTOR CREDIT RATING AGENCIES – A CONTRIBUTION TO A MORE STABLE GLOBAL FINANCIAL ARCHITECTURE

Economics, Management, and Financial Markets , Volume 5 (1): 113-118 – Jan 1, 2010

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

The design of a more stable global financial architecture is currently the most important topic on the international agenda. But compared to the dimensions of the financial crisis, the solutions that have been put forward seem rather modest. While there is no doubt that more transparency as well as better designed and stronger capital buffers will help to make the global financial system more stable, it is far from clear whether such a piecemeal approach will help to prevent major crises in the future. The almost unlimited government support of banks in the current situation raises the stakes even higher and has increased the incentive problems facing bank depositors and lenders. JEL: F01, F30, R53

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2010

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