{"product_id":"9783032268235","title":"The Emerging Markets Investor\u0026apos;s Guide to Country Risk : Systematic Risks and the Threats to Investment Performance","description":"\u003cp\u003eSystematic risks represent greater threats to investment performance than idiosyncratic factors. In the emerging markets in particular, macroeconomic volatility, political instability, and institutional failures are common-place hazards whose impact on business operations and asset returns can be significant. The involvement of country risk analysis can be limited to a binary go no go decision and the establishment of a sovereign or market rating used for pricing and portfolio construction decisions, and then forgotten until a crisis develops. The incorporation of the details of a country risk assessment into transaction structuring and elements of an early-warning system, for example, is often incomplete or missing altogether. This superficial approach reflects various issues. These can include governance of the investment approval process, knowledge gaps between in-houses investment officers and economists, and the very nature of speculative reasoning about the future path of the economy. \u003c\/p\u003e\u003cp\u003eThe authors look to address these challenges in three steps: first, distilling the complexities of emerging markets country risk into a manageable set of stylized facts; second, providing tools for incorporating country risk analysis into the principal phases of the investment underwriting and management process; and third, demonstrating the use of these tools through a series of primary case studies and counter-factuals. This book will be the first in the field to explore how unfolding global trends like geopolitical realignment, climate change and the rise of AI may affect investment underwriting in the EMDEs, and will be of interest to investors, economists, and political risk analysts.\u003c\/p\u003e \u003cp\u003ePart I Fundamentals.- 1. EMDEs Macroeconomics: Growth Drivers, Policies and Vulnerabilities.- 2. The Foundational Role and State of Institutions.- 3. EMDEs Financial Development: Depth, Structure and Stability.- 4. Financial Crises in EMDEs: Types, Frequency and Interactions.- 5. A Holistic View The Investment Climate.- Part II Context: A Changing World.- 6. Geoeconomic Recalibration: Risks and Opportunities for EMDEs.- 7. Climate Change: EMDEs Exposure and Mitigants.- 8. Demographic Transitions in EMDEs: Easing Pressures to Youthquakes.- 9. In Search of the Future Growth Model: Promise and Perils of Technology.- 10. A View of the Future: Opportunities, Vulnerabilities, and Adaptive Capacities.- Part III Investor s Rutter.- 11. The Investor s Rutter.- 12. Transaction Lives.- 13. Counterfactuals.- Part IV Case Studies.- 14. Case Study 1: Tomorrow s Energy.- 15. Case Study 2: General Goods.- 16. Case Study 3: Enterprise Bank.- 17. Case Study 4: Emporium.- 18. Summary Learnings.- 19. Closing: Charting Risky Waters.\u003c\/p\u003e \u003cp\u003e\u003cstrong\u003eRichard Marney \u003c\/strong\u003eis a senior advisor for risk management at responsAbility Investments AG, where he previously served as the firm s Chief Risk Officer. Over a 50-year career, Richard has held senior-level business development, riskmanagement, fundraising, and operating roles in: (i) commercial and investment banking, (ii) micro-finance, (iii) impact investment asset management, and (iv) private equity working in globally recognized financial services organizations, including BNY-Mellon and JP Morgan. Additionally, Richard has extensive experience on company boards of directors, and investment and advisory committees across a broad range of sectors and regions, and has lectured in international and development economics at the graduate university level. Along with Timothy Stubbs, he has published \u003cem\u003eCorporate Debt Restructuring in Emerging Markets: A Practical Post-Pandemic Guide \u003c\/em\u003e(2021) and \u003cem\u003eDebt Restructuring in Emerging Markets: Effectively Navigating Local Institutional Frameworks \u003c\/em\u003e(2024) through Palgrave Macmillan. Richard is a graduate of the Johns Hopkins University School of Advanced International Studies, and University College London. \u003c\/p\u003e\u003cp\u003e\u003cstrong\u003ePhilipp Waeber \u003c\/strong\u003eis the Chief Economist at responsAbility Investments AG, a leading impact asset manager specializing in private markets across diverse emerging economies. He advises the firm s credit business on investment decisions and structuring to price and mitigate country risks. In close to two decades of experience as an economist, he has developed a profound understanding of what triggers crises, how they unfold, and where they leave corporates within a country. Philipp holds a bilingual Master s degree in Economics from the University of Fribourg, Switzerland, and is a CFA charter holder.\u003c\/p\u003e","brand":"Springer, Berlin; Palgrave Macmillan","offers":[{"title":"Default Title","offer_id":67769225347320,"sku":"00000_00000_00000_00000","price":254.56,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0789\/8208\/6904\/files\/9783032268235-1.jpg?v=1792736575","url":"https:\/\/kinokuniya.com.au\/products\/9783032268235","provider":"Books Kinokuniya Australia","version":"1.0","type":"link"}