Analisis Pengaruh Lembaga Pemerinkat Kredit dalam Pasar Investasi Internasional :(Studi kasus Standard & Poors Moodys dan Fitch

Eka Wibisana , Mohtar Masoed

2015 | Skripsi | Ilmu Hubungan Internasional

ABSTRACT This thesis primarily concern on Credit Rating Agencies, an actor in international relations which rarely discussed untill the break of crisis in 2008. Out of all agencies, there are only 3 major power, Standard & Poor‟s, Moody‟s and Fitch or commonly known as „the big three‟. Their epistemic role is to rate the creditworthiness of issuers. They empirically shows some flaw within its assesment, sometimes even worsen the crisis yet remain stable in term of market coverage. In order to explain the stability and impact of Standard & Poor‟s, Moodys and Fitch, I use structural power concept presented by Andrej-Kremer. Some component become the pillars of structural power, like be contained in media (material goods), integration of rating within regulation (positional goods), asymetries of information between investor and issuer (ideational goods). They also have so called reputational capital over banks that help in elevate their structural power. For instance, I use Russia and European Union as states that wasn‟t influenced and was influenced by the big three rating agencies. Keywords : Credit Rating Agency, Rating, Structural Power

Kata Kunci : Kredit