Global financial orders and credit rating agencies: disruptions and adaptations
ABSTRACT This paper addresses the possible disruption of the global financial order (GFO) based on the behavior of S&P Global, Moody’s and Fitch Ratings, century-old rating agencies, in face of three potentially disruptive crises: the 2008 global financial crisis, the Covid-19 pandemic and the c...
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| Language: | English |
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Editora 34
2024-12-01
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| Series: | Brazilian Journal of Political Economy |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572025000100203&lng=en&tlng=en |
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| author | PEDRO LANGE MACHADO |
| author_facet | PEDRO LANGE MACHADO |
| author_sort | PEDRO LANGE MACHADO |
| collection | DOAJ |
| description | ABSTRACT This paper addresses the possible disruption of the global financial order (GFO) based on the behavior of S&P Global, Moody’s and Fitch Ratings, century-old rating agencies, in face of three potentially disruptive crises: the 2008 global financial crisis, the Covid-19 pandemic and the climate breakdown. The main argument is that, historically, these agencies have adapted to the GFOs in force, mirroring their institutional and ideological parameters and thereby reflecting international tendencies. Based on an institutional historical analysis and in light of the behavior of the agencies in the crises above, it calls into question the GFO transition discussed by scholarship. |
| format | Article |
| id | doaj-art-dc3c096049d34d8b95d1280d473bc2f1 |
| institution | Kabale University |
| issn | 1809-4538 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Editora 34 |
| record_format | Article |
| series | Brazilian Journal of Political Economy |
| spelling | doaj-art-dc3c096049d34d8b95d1280d473bc2f12025-01-07T07:37:56ZengEditora 34Brazilian Journal of Political Economy1809-45382024-12-0145110.1590/0101-31572025-3599Global financial orders and credit rating agencies: disruptions and adaptationsPEDRO LANGE MACHADOhttps://orcid.org/0000-0003-2457-946XABSTRACT This paper addresses the possible disruption of the global financial order (GFO) based on the behavior of S&P Global, Moody’s and Fitch Ratings, century-old rating agencies, in face of three potentially disruptive crises: the 2008 global financial crisis, the Covid-19 pandemic and the climate breakdown. The main argument is that, historically, these agencies have adapted to the GFOs in force, mirroring their institutional and ideological parameters and thereby reflecting international tendencies. Based on an institutional historical analysis and in light of the behavior of the agencies in the crises above, it calls into question the GFO transition discussed by scholarship.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572025000100203&lng=en&tlng=enInternational financial ordercredit rating agency2008 global financial crisisCovid-19 pandemicclimate crisis |
| spellingShingle | PEDRO LANGE MACHADO Global financial orders and credit rating agencies: disruptions and adaptations Brazilian Journal of Political Economy International financial order credit rating agency 2008 global financial crisis Covid-19 pandemic climate crisis |
| title | Global financial orders and credit rating agencies: disruptions and adaptations |
| title_full | Global financial orders and credit rating agencies: disruptions and adaptations |
| title_fullStr | Global financial orders and credit rating agencies: disruptions and adaptations |
| title_full_unstemmed | Global financial orders and credit rating agencies: disruptions and adaptations |
| title_short | Global financial orders and credit rating agencies: disruptions and adaptations |
| title_sort | global financial orders and credit rating agencies disruptions and adaptations |
| topic | International financial order credit rating agency 2008 global financial crisis Covid-19 pandemic climate crisis |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572025000100203&lng=en&tlng=en |
| work_keys_str_mv | AT pedrolangemachado globalfinancialordersandcreditratingagenciesdisruptionsandadaptations |