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The Company States Keep: International Economic Organizations and Investor Perceptions

The Company States Keep: International Economic Organizations and Investor Perceptions

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Julia Gray
Cambridge University Press, 10/31/2013
EAN 9781107030886, ISBN10: 1107030889

Hardcover, 250 pages, 22.9 x 15.2 x 1.8 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.