|
EconStor >
Asian Development Bank Institute (ADBI), Tokyo >
ADBI Working Paper Series, Asian Development Bank Institute >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/53646
|
| | |
| Title: | | Emergence of rating agencies: Implications for establishing a regional rating agency in Asia  |
| Authors: | | Tsai, Ying Yi Liu, Li-gang |
| Issue Date: | | 2010 |
| Series/Report no.: | | ADBI working paper series 241 |
| Abstract: | | The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrants into the credit rating market. In an incomplete contracting framework, we show that an impartial financial regulatory body (represented by a benevolent supranational organization) can facilitate credit ratings of high quality by allowing for the entry of new rating agencies on a non-single basis than it does for a mere single entry. This finding is caused by increased competition among the rating agencies, which induces higher quality of rating services even should rating agencies still exert below their maximum level of efforts. |
| JEL: | | D43 D82 G24 L15 |
| Document Type: | | Working Paper |
| Appears in Collections: | | ADBI Working Paper Series, Asian Development Bank Institute
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/53646
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|