The Company States Keep
Cambridge University Press
Edition: Reprint, 7/28/2016
EAN 9781107566828, ISBN10: 1107566827
Paperback, 250 pages, 22.9 x 15.2 x 1.5 cm
Language: English
This book argues that investor risk in emerging markets hinges on the company a country keeps. When a country signs on to an economic agreement with states that are widely known to be stable, it looks less risky. Conversely, when a country joins a group with more unstable members, it looks more risky. Investors use the company a country keeps as a heuristic in evaluating that country's willingness to honor its sovereign debt obligations. This has important implications for the study of international cooperation as well as of sovereign risk and credibility at the domestic level.
1. Introduction
the company you keep
2. International institutions and sovereign risk
3. The company you keep in comparative perspective
4. The effects of good company
5. When emerging markets join up with bad company
6. How risk for core members changes on IO expansion
7. Conclusion.