Credit Rating Agencies versus the ‘Pink Tide’: Lessons from the Experiences of Brazil and Argentina
Pedro Lange Machado
Abstract:This paper examines the behaviour of credit rating agencies (CRAs) during the ebbing ‘pink tide’. It claims that the actions of S&P Global, Moody’s and Fitch contributed to dismantling left-wing regimes in Latin America, to the benefit of their right-wing competitors. The methodology draws on case studies of Brazil and Argentina, where the governments of Dilma Rousseff and Cristina Fernández de Kirchner were replaced by those of Michel Temer and Mauricio Macri, respectively. The research is based on sovere… Show more
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