Synopses & Reviews
Country risk is a broad concept which brings together the varied disciplines of economics, finance, geopolitics, sociology and history. Based on a collective 50 years of experience as scholars, managers and advisors in the field of country risk, the authors set out to provide a solid understanding of the concepts and methodologies involved in formulating successful strategies for international risk assessment and management. With a balance between theory and practice, the book assesses the opportunities arising from the growing integration of international finance markets and presents and analyses the various sources of country risk.
It provides an in-depth coverage of information sources and country risk service providers, and explains techniques for assessing and forecasting country financial crises. It includes a comprehensive review of all existing methods including the techniques of the cutting-edge market-based approaches such as:
The book concludes with a management tool kit based on practical examples, all of which will be of interest to managers and analysts in investment banks and in corporate institutions involved in international investment, as well as to students of international finance and business.
Synopsis
Country risk is a broad concept that comprises an underlying combination of economics, finance, geopolitics, sociology and history. This book sets out to provide managers, analysts and students with a solid understanding of the concepts and methodologies surrounding country risk assessment from an investment perspective.
* One of the few books on country risk assessment
* Will provide a balance of theory and the practical tools and methodologies
* Includes coverage of emerging stock markets
* Concludes with a management toolkit for country risk assessment
* Written by an author team that comprise some 50 years of professional experience in the field of country risk as advisers, fund managers or economic analysts
Synopsis
Satisfies the growing demand for expert guides to an increasingly crucial discipline Written by an all-star team, this guide acquaints readers with the concepts and methodologies involved in country risk assessment, from an investment perspective. It helps satisfy the gaping void in the investment literature with a balance of theory and practical tools and techniques, including a management toolkit for country risk assessment. It also features sections providing up-to-date coverage of new and emerging stock markets around the world.
Synopsis
One of the few books on the subject, Country Risk Assessment combines the theoretical and practical tools for managing international country risk exposure.
- Offers a comprehensive discussion of the specific mechanisms that apply to country risk assessment.
- Discusses various techniques associated with global investment strategy.
- Presents and analyses the various sources of country risk.
- Provides an in depth coverage of information sources and country risk service providers.
- Gives techniques for forecasting country financial crises.
- Includes practical examples and case studies.
- Provides a comprehensive review of all existing methods including the techniques on the cutting-edge Market Based Approaches such as KMV, CreditMetrics, CountryMetrics and CreditRisk+.
Synopsis
"In this day and age where Global Risk Management is all the rage, Bouchet, Clark and Groslambert's COUNTRY RISK ASSESSMENT is a 'must-read' for Chief Executives and Senior Risk Managers. It successfully blends an academic and critical review of the existing body of work in the field with a fresh and genuinely creative approach to the subject: Chapter 11, which draws analogies between quantum mechanics, country risk and information dynamics peculiar to our century, is a real gem..."
Xavier R. Rolet, Managing Director and Co-Head of Global Equity Trading, Lehman Brothers, Inc.
About the Author
MICHEL HENRY BOUCHET is Professor of Finance at CERAM-Sophia Antipolis (France), Scientific Director of the MSc in International Finance, and Head of the Chair 'Global Finance'. He is also Managing Director of DEFI/Developing Finance, Paris. After an international banking career at BNP, the World Bank and the Washington-based Institute of International Finance, Dr. Bouchet was founder and CEO of Owen Stanley Financial, a specialized advisory firm dealing with debt restructuring strategy for country governments. Dr. Bouchet graduated in Economics from the University of Paris and IEP-Paris. He also holds an M.A. and a Ph.D from USC (Columbia-USA).
EPHRAÏM CLARK is Professor of Finance at Middlesex University, London, and Visiting Professor at ESC Lille, France, with extensive teaching experience in Europe and the USA. He is Founding Editor of the European Journal of Finance, Co-editor of Treasury Affairs, and Associate Editor of the International Journal of Finance. Professor Clark is the author of eight books and over 50 articles in academic and professional journals in the field of international risk management, and he also has extensive experience in private business and as a consultant.
BERTRAND GROSLAMBERT after working in Africa as Financial Controller with the French oil group, Total, Dr. Groslambert joined Paris-based FP Consult (now part of Fortis Group), an emerging market investment management company with a US$250 million portfolio. He was equity fund manager specializing in Latin American stock markets. Dr. Groslambert teaches International Finance Strategy and International Risk Management at CERAM. A graduate himself from CERAM, he holds a Doctorate in Economics from Aix-Marseille University, and his areas of expertise include emerging markets and international economics.
Table of Contents
Preface.
Acknowledgments.
Foreword by Campbell R. Harvey
1 Introduction.
2 An Overview of Country Risk .
3 The Economic and Financial Foundations of Country Risk Assessment .
4 Country Risk Assessment Methodologies: The Qualitative, Structural Approach to Country Risk.
5 Assessment Methodologies: Ratings.
6 Econometric and Mathematical Methods.
7 Risk Models.
8 International Portfolio Investment Analysis.
9 Financial Crises in Emerging Market Countries: An Historical Perspective.
10 Country Risk and Risk Mitigation Instruments.
11 Country Risk Assessment: A Matter of Information and Intelligence Gathering.
Glossary.
Index