REMARKS ON CREDIT RATING AGENCIES

Öz

Demand of borrowing from external sources has increased dramatically for many countries.Borrowing from external sources is associated with sovereign ratings of a country. Strong credit rating will play an important role in determining the cost of borrowing. This reality has became more important by the end of 1970s with neo-liberal era. Credit Rating Agencies have become active promoter of neo-liberal policies. As sovereign ratings regarded as main indicator for external borrowing Credit Rating Agencies has become questinable after 1990s. This study discusses the impacts, reliability and consistency of the Credit Rating Agencies

Anahtar Kelimeler

• Credit Rating Agencies, borrowing, credit rating, neo-liberal policies

Kredi Derecelendirme Kuruluşları Üzerine Düşünceler

Öz

Ülkeler farklı finansman yollarına başvurarak kaynak sağlayabilmelerine rağmen giderek artan bir şekilde hazine tahvili ile uluslararsı borçlanmayı tercih etmektedirler. Bu durumda kredi kuruluşlarının vereceği kredi notu ülkelerin borçlanma maliyetinin de belirleyicisi olduğundan, bu kuruluşların önemi özellikle neo-liberal politikaların hakim olduğu 1970’li yılların sonundan itibaren artmaktadır. Kredi Derecelendirme Kuruluşlarının neo-liberal politikaların uygulanmasına hizmet etmesi veya bu anlamda var olmaları 1970 sonrasında başlamış ancak bu yapı 1990’lı yıllardan itibaren bu kuruluşların güvenilirliklerinin sorgulanması ile yeni bir dönüşüm daha geçirmiştir. Bu çalışmada neo-liberal süreçte kredi derecelendirme kuruluşlarının etkiler, güvenilirlikleri, tutarlılıkları tartışılmaktadır.

Anahtar Kelimeler

• Kredi Derecelendirme Kuruluşları, borçlanma, kredi notu, neo-liberal politikalar

Kaynakça

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60. Murat Demir, recieved his bachelor degree in public finance from Anodolu