用产业组织的工具来阐释信用评级行业

IF 1.5 4区经济学 Q2 ECONOMICS

Japanese Economic Review Pub Date : 2019-08-06 DOI:10.1111/jere.12238

Lawrence J. White

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引用次数: 2

摘要

直到十多年前，信用评级行业在很大程度上还是金融体系“管道”中一个不被认可、也不被理解的部分。随着2008年金融危机及其余波的爆发，这种默默无闻的状态发生了改变。然而，经过几年的密切关注，评级机构已经退回到半默默无闻的状态，很少吸引媒体或政治关注。产业组织的工具可以帮助我们理解这个产业:它的结构;其行为;以及它的结果;以及可能改善其运作的公共政策。

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Using the Tools of Industrial Organisation to Illuminate the Credit Rating Industry

Until slightly more than a decade ago, the credit rating industry was largely a little-recognised and little-understood part of the financial system “plumbing”. This obscurity changed with the financial crisis of 2008 and its aftermath. After a few years of intensive attention, however, the CRAs have retreated back to semi-obscurity and attract little media or political attention. The tools of industrial organisation can help us understand this industry: its structure; its behaviour; and its outcomes; and the public policies that are likely to improve its functioning.

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来源期刊

Japanese Economic Review ECONOMICS-

CiteScore

2.70

自引率

0.00%

发文量

期刊介绍： Started in 1950 by a group of leading Japanese economists under the title The Economic Studies Quarterly, the journal became the official publication of the Japanese Economic Association in 1959. As its successor, The Japanese Economic Review has become the Japanese counterpart of The American Economic Review, publishing substantial economic analysis of the highest quality across the whole field of economics from researchers both within and outside Japan. It also welcomes innovative and thought-provoking contributions with strong relevance to real economic issues, whether political, theoretical or policy-oriented.