Credit rating agencies and their impacts on democratic governance: an analysis based on the Brazilian case
This article argues that credit rating agencies act as a pressure channel through which financial market political preferences are imposed on national states. In a context of financial globalization, governments find themselves amidst the conflict between the democratic demands of their constituents...
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2018 |
| País: | Brasil |
| Recursos: | Universidade Federal da Grande Dourados (UFGD) |
| Repositorio: | Monções: Revista de Relações Internacionais da UFGD |
| Idioma: | portugués |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/8724 |
| Acesso em linha: | https://ojs.ufgd.edu.br/moncoes/article/view/8724 |
| Access Level: | acceso abierto |
| Palavra-chave: | Financial globalization credit rating agencies Brazil Globalização financeira. Agências de classificação de risco. Brasil. |
| Resumo: | This article argues that credit rating agencies act as a pressure channel through which financial market political preferences are imposed on national states. In a context of financial globalization, governments find themselves amidst the conflict between the democratic demands of their constituents and the pressures from the international financial system. One of the instruments that materialize these pressures are the credit rating agencies, which confront the national political systems and, as a consequence, the democratic governance. The argument develops from the Brazilian case, from the impeachment process of Dilma Rousseff to the suspension of the vote on the social insurance reform by the government of Michel Temer, and is confirmed through the analysis of reports and the ratings issued by the agencies, as well as of their statements on the media channels. |
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