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Credit Ratings and Sovereign Debt

Part of the International Political Economy Series Book Series

DOI: 10.1057/9781137302779

ISBN: 978-1-349-45396-2

Publisher: Palgrave Macmillan UK - Springer Journals

Oct 19, 2015

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Chapter 1Introduction: Credit Rating Crisis

Paudyn, Bartholomew

Pages: 1 –29

[As the financial crisis morphed into the sovereign debt debacle, and escalating contagion undermined the integrity of Economic and Monetary Union (EMU), plus the global economic recovery, international attention became fixated on what constitutes as the ‘real’ risk of sovereign debt default....
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Chapter 2Crisis and Control

Paudyn, Bartholomew

Pages: 30 –82

[Whose judgment do we trust and why are questions that have always preoccupied collective action problems and strategic decision-making. For this purpose, game theoretics (see Hollis 1998; Nash 1950; Putnam 1988; von Neumann and Morgenstern 1944) have been widely applied in numerous forms, and...
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Chapter 3The Rise of Risk and Uncertainty

Paudyn, Bartholomew

Pages: 83 –134

[Rarely does a day go by without some kind of a declaration confirming the ‘heightened uncertainty’ that comes with living in an ‘(new) era of uncertainty’. Bordering on the apocalyptic, such prophesies are often disseminated by a sensationalist media with a vested interest in increasing the...
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Chapter 4Rating Performativity

Paudyn, Bartholomew

Pages: 135 –182

[The notion of the ‘market economy’ as a pregiven, ontological totality is increasingly being called into question. Its status as an autonomous reality separate from politics or society, with its own distinct laws and causal dynamics, is being disturbed by a burgeoning critical scholarship...
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Chapter 5Epistocracy versus Democracy

Paudyn, Bartholomew

Pages: 183 –202

[The previous chapters progressively introduced several of the core themes which underpin this problematic and the book: authoritative knowledge, risk/uncertainty and performativity. Acquainted with this knowledge, and equipped with the necessary analytical tools to problematize credit ratings,...
LitStream

Chapter 6Conclusion: Problematizing the Ratings Space

Paudyn, Bartholomew

Pages: 203 –213

[The pursuit of security and profit has become inextricably intertwined with the constant quest for control. Unless we are able to calculate and plot an indeterminate future, then we cannot actively manipulate and master Fortuna to avoid succumbing to the forces of fate. In order to transform all...

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