AN ANALYSIS OF COUNTRY RISK WHEN INTERNATIONAL CAPITAL MARKETS LEND TO DEVELOPING NATIONS

• 발행기관: People & Global Business Association
• 저자명: Harri Ramcharran
• 간행물 정보: 『Global Business and Finance Review』Vol.6 No.1, 23~35쪽, 전체 12쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2001.06.30

영문 초록

In light of the rapid growth in developing countries' borrowing from the international capital market and recent indicators of financial and economic instability, the impact of country risk on the amount of international borrowing (loans and bonds) of sixteen developing countries is estimated. Based on a model of sovereign risk analysis, the results indicate that for the period 1992-94, variables indicating political risk (transfer risk), credit risk, and economic risk are significant. Both bivarite and multiple regression estimates are obtained and test for stability of the model is conducted. The use of country risk ratings as independent variables of the model is an improvement of the earlier methodology based on external debt ratios.

목차

Abstract

INTRODUCTION

INTERNATIONAL BORROWING AND COUNTRY RISK: LITERATURE SURVEY

METHODOLOGY

RESULTS

CONCLUSIONS

REFERENCES