Emerging Markets and Sovereign Risk

Part I. Risk and Emerging Market Investment

1. Economic Growth vs. Equity Returns in Emerging Markets
R. McFall Lamm

2. Default Risk of Sovereign Debt in Central America
Astrid Ayala, Szabolcs Blazsek, Raúl B. González Paz

3. Contagion in Emerging Markets
Serge Darolles, Jérémy Dudek, Gaëlle Le Fol

4. Aspects of Volatility and Correlations in European Emerging Economies
Anna Golab, David E. Allen, Robert Powell

5. The Political Risk of Offshore Financial Centres: The Cyprus Bail-Out
David Chaikin

Part II. Rating Agencies and the Sovereign Rating Process

6. Travels in the Ratings Space: Developed and Developing Countries’ Sovereign Ratings
Lúcio Vinhas Souza

7. The Sovereign Rating Regulatory Dilemma
Jeffrey Manns

8. A Framework for Understanding the Acceptability of Rating Agency Methodologies
Nigel Finch

9. Sovereign Wealth Funds and Investment Law
Mauro Megliani

10. Common Characteristics of Rated Sovereigns Prior to Default
Marie Cavanaugh, John B. Chambers, Maximillian McGraw

Part III. Management of Sovereign Risk and Ratings

11. Big Projects in Small Economies: The Determinants of Sovereign Risk and Its Control
Sean J. Hinton, Brian S. Fisher, Anna M. Fisher

12. Monetary Policy and International Reserves in Emerging Economies: Theory and Empirics
Prakash Kumar Shrestha, Willi Semmler

13. Stock Market Impact of Sovereign Rating Changes: Alternative Benchmark Models
Emawtee Bissoondoyal-Bheenick, Robert Brooks

14. Reserve Adequacy Measures for Emerging Market Economies
Willi Semmler, Lebogang Mateane

15. The Price Impact of Sovereign Rating Announcements
Albert Metz, Merxe Tudela

Keywords: Finance, Corporate Finance, Capital Markets, Investments and Securities, Risk Management, Banking, Development Economics