ENGLISH

The Company States Keep : International Economic Organizations and Investor Perceptions

By Julia Gray

Book information

Publisher
Cambridge University Press
Year
2013
ISBN
9781107420533, 9781107030886
LCC
HJ8899.G73 2013eb
Language
english
Format
PDF
Filesize
2 MB (2398246 bytes)
Pages
250\250
Time added
2023-08-05 13:43:59
DebtsPublic -- Developing countries. ; International ag

Description

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.

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