Ratings, Rating Agencies and the Global Financial System is a comprehensive volume that provides an in-depth analysis of the credit rating industry.

With contributions from leading economists and experts in the field, this book offers a thorough understanding of the historical origins, industrial organization structure, and current trends in the credit rating business.

The book also examines the relationship between ratings and default/recovery experience of corporate borrowers, comparability of credit ratings made by domestic and foreign rating agencies, and usefulness of financial market indicators for rating banks.

Additionally, it explores the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings.

The final section of the volume highlights policy issues facing regulators and credit rating agencies.

This book is a must-read for anyone interested in understanding the complex world of credit ratings and their impact on the global financial system.