Since the second half of the 1990s, three major financial crises occurred, each with a significant involvement of rating agencies (RAs). Their rather poor performance palpably shows that they did not live up to their promises. RAs have proven to be fallible and overburdened. Given the task to...

Although the globalization of markets and the rapid growth in worldwide information technologies supports harmonization and integration between countries, substantial differences still exist throughout the world. Global Divergence in Trade, Money and Policy explores the disparities between a...