Global financial crisis, banking crisis and first country risk in the viewpoint of domestic risk rating agencies

Dr.Sc. Ingrid Shuli, MSc. Merita Bejtja, Dr.Sc. Blerta Dragusha


In a period of dire financial crisis, with which all countries seem to cope, it seemed interesting to analyse the assessment of the risk for our country, viewed from the vantage point of our domestic rating agencies, but also compared to assessments made to our country by international rating agencies, such as Moody’s rating agency, Standard & Poor rating agency, Fitch ratings agency etc. The objective of this study is to recognize indicators and factors affecting the risk assessment and rating of a country, and evaluate whether there has been an impact of the financial crisis faced by other countries in the rating given to Albanian by domestic and foreign agencies. We stopped at the history of earlier financial crisis development to understand bewtter what is happening in this financial crisis. We shall develop upon a wide existing literature, and a range of credible resources such as the IMF, the World Bank, the International Institute of Finance, Economic Intelligence Unit, and local official data sources, eg. The Bank of Albania and INSTAT).


Financial crisis; banking risk; national risk; rating;


Bloomberg – Business & Financial News. Prill 2009.

Klindberger Ch., (1996), “Manias, Panics and Craches: A history of Financial Crisis”, NY. Basic books 3rd ed.

“The Economist”, Review, 12 mars 2009.

Raiffeisen Bank ( konfidencial)

Carmen Reinhart, Kenneth Rogoff (2009), “This time is different: Eight centuries of financial folly”.

George Cooper (2008), “The origin of Financial Crises: Central Banks, Credit Bubbles and the Efficient market fallacy”.

Gretchen Morgenson, Joshua Rosner (2011). “Reckless Endangerment. How outsized ambition, greed and corruption led to economic armageddon”.

John Lanchester (2011), “Once Greece goes: Any hope for the euro?” London Review Bookshop, LRB 14 July.

Michael Shulman (2009), “Sell short”.

Richard C. Koo (2008), “The Holy Grail of Macroeconomics: Lessons from Japans Great Reccession”.

The Financial Crisis Inquiry Report, Authorized Edition: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States Janar 2011

Full Text: PDF

DOI: 10.21113/iir.v2i1.159

Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM


  • There are currently no refbacks.

Copyright (c) 2016 Dr.Sc. Ingrid Shuli, MSc. Merita Bejtja, Dr.Sc. Blerta Dragusha

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.