@article{938293,
      recid = {938293},
      author = {Gaillard, Norbert.},
      title = {Country risk : the bane of foreign investors /},
      publisher = {Springer,},
      address = {Cham, Switzerland :},
      pages = {1 online resource},
      year = {2020},
      abstract = {With the growth of international trade and the advent of  financial globalization in the 1970s and 1980s, country  risk has become a key notion for economists, financiers,  and investors. I define this notion as "any macroeconomic,  microeconomic, financial, social, political, institutional,  judiciary, climatic, technological, or sanitary risk that  affects (or could affect) an investor in a foreign country.  Damages may materialize in several ways: financial losses;  threat to the safety of the investing companys employees,  clients, or consumers; reputational damage; or loss of a  market or supply source." Chapter 1 introduces the key  concepts. Chapter 2 investigates how country risk has  evolved and manifested since the advent of the Pax  Britannica in 1816. It describes the international  political and economic environment and identifies the main  obstacles to foreign investment. Chapter 3 documents the  numerous forms that country risk may take and provides  illustrations of them. Seven broad components of country  risk are scrutinized in turn: international political  risks; domestic political and institutional risks;  jurisdiction risks; macroeconomic risks; microeconomic  risks; sanitary, health, industrial, and environmental  risks; and natural and climate risks. Chapter 4 focuses on  sovereign risk. It presents the rating methodologies used  by four raters; next, it measures and compares their  performance (i.e., their ability to forecast sovereign  defaults). Chapter 5 studies the risks likely to affect  exporters, importers, foreign creditors of corporate  entities, foreign shareholders, and foreign direct  investors. It presents the rating methodologies used by  seven raters and measures their track records in terms of  anticipating eight types of shocks that reflect the main  components of country risk analyzed in Chapter 3. This book  will be most relevant to graduate students in economics as  well as professional economists and international  investors.},
      url = {http://library.usi.edu/record/938293},
      doi = {https://doi.org/10.1007/978-3-030-45788-4,  https://doi.org/10.1007/978-3-030-45},
}