论信用评级的动力机制和制约机制

The dynamic mechanism and restraining mechanism of credit rating

该文就如何理性、客观地分析信用评级业现状及其良性发展模式进行了论述,指出应大力清除对信用评级认识的思想障碍,如不应盲目信赖国际评级机构及其评级的独立性和科学性,要辩证地看待信用评级的个性与共性。文章用市场经济理论论证了信用评级的动力机制,即信用风险管理对信息的需求,并建议通过建立存在相关各方合作博弈的完整制衡机制来规范信用评级的发展。

This paper discusses how to undertake a rational understanding of the current situation as well as a sustainable development of the credit rating industry. It points out that we should rethink some conclusions about credit rating, and should not fully rely on international credit rating institutions and their credit rating results regarding their independency and accuracy. It is necessary to distinguish the individuality and commonness of credit rating. This paper utilizes the theory of economics to demonstrate the dynamic mechanism of credit rating, i.e. the demands of information for credit risk management. It suggests that a cooperative and complete restraining mechanism which integrates all related parts should be established in order to regulate the development of credit rating.