Country and Political Risk

Practical Insights for Global Finance

Publication Date	December 2004
Publisher	Risk Books
Product Type	Book
Pages	354
ISBN Number	190433931X
Product Code	RIS00327

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Summary

By examining country and political risk from a banking and insurance perspective the book is a vital resource for portfolio and direct investors
As a foreign investor, you will be better armed with all the tools and techniques to effectively assess the risk of investing in a particular country
Leading practitioners, academics and economists discuss essential topics such as:
- Best practice in country risk and Basel II
- Theories of crises
- Stress-testing
- Measuring state stability and political risk
- Country risk and the private sector
- Country risk indicators and early warning systems
- Currency inconvertibility
- Pricing of political risk
You will benefit from the experience of authors from such world-leading organisations as: ABN Amro, Aon Political Risk, Duke University , Bank for International Settlements, Oxford Analytica, Fitch Ratings, the World Bank and many more
Provides insight and advice on the ratings available from various organisations that offer country-rating services
Addresses key issues surrounding some of the most volatile world markets and provides in-depth analysis through a range of revealing interviews and case studies of the crucial markets from around the globe
Offers practical advice to help you formulate effective internal strategies for country risk management, including an analysis of the available methodologies and systems for assessing country risk, such as econometric systems and qualitative approaches
Also covers: stress testing, measuring state stability and political risk, pricing a political risk portfolio, forecasting currency crises, emerging markets, capital market products, international lending, regulatory issues and Basel II, country risk rating and much more
An indispensable resource not only to financial institutions but to all businesses that operate on a global level

Content

Introduction
- Sam Wilkin
Section 1. Assessing Country Risk
- 1, Currency and Banking Crises: a Review of the Theories
  - Stijn Claessens
  - World Bank
- 2, Currency and Debt Crises: a Review of the Early Warning Systems
  - Alessio Ciarlone and Giorgio Trebeschi
  - Banca d'Italia
- 3, New Developments in Country Risk: the New Anatomy of Crises, Rising Public Debt Burdens, and Basel II
  - Khalid Sheikh and Peter Heijmans
  - ABN Amro
- 4, Assessing State Stability and Political Risk in Emerging Markets
  - Preston Keat and Alexander Motyl
  - Eurasia Group
- 5, Country Risk Components, the Cost of Capital, and Returns in Emerging Markets
  - Campbell Harvey
  - Duke University
- 6, The Private Sector Component of Country Risk
  - Carl Adams
  - eStandards Forum
- 7, Four Experts Discuss the Science and Art of Country Analysis
  - Sam Wilkin
  - Countryrisk.com
Section 2. Country Risk Cases
- 8, Building a Stress-Test Scenario for Country Risk: the Case of Turkey
  - Luigi Ruggerone
  - Banca Intesa
- 9, Domestic and External Political Factors and Country Risk: the Case of China
  - Therese Feng
  - Fitch Ratings
- 10, Structural Weaknesses and Country Risk: the Case of Brazil
  - Christian Stracke
  - CreditSights
- 11, Assessing Operational Risk: the Case of Russia
  - Guy Dunn
  - World Markets Research Centre
Section 3. Managing a country risk portfolio
- 12, Best Practices in Country Risk Management
  - Michael Bates
  - Oxford Analytica
- 13, Why Firms Fail to Manage Political Risk: Explaining and Correcting Organisational Failures
  - Michel Leonard
  - Aon Trade Credit
- 14, Pricing Political Risk within an Economic Capital Framework
  - Jotaro Hamada, Henning Haugerudbraaten; Andrew Hickman, Ilya Khaykin
  - Multilateral Investment Guarantee Agency; Erisk
- 15, Managing Currency Inconvertibility and Exchange Transfer Risk: Identification, Assessment and Risk Transfer Issues
  - Martin Stone
  - Aon Political Risk
- 16, The Expanding Market for Sovereign Credit Default Swaps
  - Frank Packer; Chamaree Suthiphongchai
  - Bank for International Settlements; Bank of Thailand
Index