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© 2018

Managing Country Risk in an Age of Globalization

A Practical Guide to Overcoming Challenges in a Complex World

Benefits

  • Considers the various dimensions of country risk

  • Written with current geopolitical in mind

  • Features a variety of global case studies

  • Includes a foreword by Tanya S. Beder and an Afterword by Florencio de Silanes

Book

Table of contents

  1. Front Matter
    Pages i-xxvii
  2. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 1-19
  3. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 21-52
  4. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 53-92
  5. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 93-125
  6. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 127-165
  7. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 207-238
  8. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 239-263
  9. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 265-287
  10. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 351-385
  11. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 387-411
  12. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 413-442
  13. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 443-470
  14. Michel Henry Bouchet, Charles A. Fishkin, Amaury Goguel
    Pages 471-499
  15. Back Matter
    Pages 501-527

About this book

Introduction

This book provides an up-to-date guide to managing Country Risk. It tackles its various and interlinked dimensions including sovereign risk, socio-political risk, and macroeconomic risk for foreign investors, creditors, and domestic residents. It shows how they are accentuated in the global economy together with new risks such as terrorism, systemic risk, environmental risk, and the rising trend of global volatility and contagion. The book also assesses the limited usefulness of traditional yardsticks of Country Risk, such as ratings and rankings, which at best reflect the market consensus without predictive value and at worst amplify risk aversion and generate crisis contamination. This book goes further than comparing a wide range of risk management methods in that it provides operational and forward-looking warning signs of  Country Risk. The combination of the authors’ academic and market-based backgrounds makes the book a useful tool for scholars, analysts, and practitioners. 


Keywords

Country risk analysis Risk management Volatility Contagion Financial crisis Sovereign risk Transfer risk Political risk Geopolitical risk Systemic risk Domestic macroeconomic risk Emerging markets Solvency Liquidity Debt crisis Debt restructuring Sovereign bonds Early warning indicators Political instability

Authors and affiliations

  1. 1.Skema Business SchoolParis-Sophia Antipolis-Suzhou-RaleighFrance
  2. 2.ChappaquaUSA
  3. 3.Skema Business SchoolParis-Sophia Antipolis-Suzhou-RaleighFrance

About the authors

Michel Henry Bouchet is currently Distinguished Finance Professor at SKEMA Business School as well as strategy adviser. He has held senior positions at BNP, the World Bank, and the Institute of International Finance. He also served as CEO of Owen Stanley Financial SA. and as senior adviser for ING Barings. Bouchet graduated in Economics from the University of Paris X and from the Paris Institut d’Etudes Politiques. He also holds a Master and Ph.D. in International Relations from University of South Carolina. He received his HDR from University Paris-Dauphine.

Charles A. Fishkin has held senior positions across the spectrum of financial services, spanning a career of 30 plus years. He led the first agency wide risk management program at the United States Securities and Exchange Commission, serving as the Director of the Office of Risk Assessment. He is the author of The Shape of Risk: A New Look at Risk Management (Palgrave 2006). He is an adjunct faculty in the Masters Program in Financial Engineering at Bernard M. Baruch College of The City University of New York. He has a BA in Economics, with General Honors, from The University of Chicago.

Amaury Goguel is the scientific Director for the MSc Financial Management and Investment (FMI) program at SKEMA Business School in Paris. He was previously head of SKEMA’s MSc in Corporate Financial Management (CFM). Goguel holds a Ph.D. in Economics from Lille University. He also holds master’s degrees from the College of Europe (Bruges), Paris 1 Sorbonne, and Complutense University of Madrid. He served as a consultant on global finance, European affairs, and political parties.

  

  

Bibliographic information

  • Book Title Managing Country Risk in an Age of Globalization
  • Book Subtitle A Practical Guide to Overcoming Challenges in a Complex World
  • Authors Michel Henry Bouchet
    Charles A. Fishkin
    Amaury Goguel
  • DOI https://doi.org/10.1007/978-3-319-89752-3
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-3-319-89751-6
  • Softcover ISBN 978-3-030-07847-8
  • eBook ISBN 978-3-319-89752-3
  • Edition Number 1
  • Number of Pages XXVII, 527
  • Number of Illustrations 33 b/w illustrations, 53 illustrations in colour
  • Topics Risk Management
    International Finance
  • Buy this book on publisher's site
Industry Sectors
Engineering
Finance, Business & Banking

Reviews

“This book succeeds better than any other I know in being a comprehensive and practical guide to the economics of country risk analysis. Financial institutions would do well to have a copy in the library. For beginning country risk analysts, it is a must-read.” (Sam Wilkin, Journal of Risk Management in Financial Institutions, Vol. 12 (2), 2019)

“Overall, this book succeeds better than any other I know in being a comprehensive and practical guide to the economics of country risk analysis. Financial institutions would do well to have a copy in the library. For beginning country risk analysts, it is a must-read.” (Sam Wilkin, as reviewed in the Journal of Risk Management in Financial Institutions)

Managing Country Risk in Age of Globalization will be the premier book on the market on country risk for practitioners, researchers, and students. It is a thorough, authoritative, and multidisciplinary treatment of the topic, providing unique and state-of-the-art perspectives on the fast-evolving field of country risk analysis, responding to a changing world economic order. Providing the complete reference tool, it has no similar competitor on the market at this time.  It is an essential and   much-needed addition to the literature of international business. I highly recommend for graduate class use and as a desk tool for analysts.” (Dr. John R. McIntyre, Professor of Management and International Affairs, Exec. Director, GT CIBER, a National Center, Georgia Institute of Technology, USA)

“Progressive in its approach and the first serious treatment of the discipline since the 2008 financial crisis, Country Risk in the Age of Globalization is a must-have for practitioners and researchers alike. The authors pay due attention to the risks and tools facing managers today, from cybercrime to the demands of Big Data, all the while reminding the reader that country risk is as much of a problem in developed countries as it is in emerging and frontier markets. Going beyond the traditional approaches to country risk assessment, and developing a more precise look at risk than previous efforts by scholars, indispensable attention is paid to the importance of information sources and the various (and often overlooked) ‘contamination channels’ of country risk. A highly-recommended contribution to the literature of this increasingly important area of interest as international business moves to 2020 and beyond.” (Christopher McKee, PhD, Chief Executive and Owner, The Political Risk Service Group Inc, USA)

“This book provides a thorough and comprehensive analysis of country risk. It is quite unique in the way it convincingly integrates the various dimensions of the concept of country risk: economic, monetary and financial, social and political. The book also proposes ways to better anticipate and mitigate country risks, by mixing quantitative and qualitative considerations. It includes a great number of case studies. This book will be an outstanding reference for academics, advanced students and various professionals, more generally for everyone interested in better understanding the very uncertain world in which we are living.” (Professor Christian de Boissieu: University of Paris I (Sorbonne) and College of Europe (Bruges), former Chair of the French Council of Economic Advisers, Paris)