Measuring Country Risk

2018 ◽  
pp. 40-57
Author(s):  
Nerea San-Martín-Albizuri ◽  
Arturo Rodríguez-Castellanos
Keyword(s):  
Shock Waves ◽  
Country Risk ◽  
Subprime Crisis ◽  
Private Debt ◽  
Market Participants ◽  
Pros And Cons ◽  
Debt Crises ◽  
The Way

The concept of “country risk” has once again come under the spotlight. Globalization, the shock-waves of the subprime crisis, manifested in sovereign and private debt crises, and the fear to a “contagion” of risk between market participants are, among others, the reasons that make topical this form of risk. The aim of this chapter is to offer an overview of the factors that influence country risk, and an analysis of the methods most commonly used to measure it, with a discussion of their pros and cons. The conclusion is that none of those methods have offered satisfactory results. In this regard, the authors propose a change in the way to analyze country risk. Rather than attempting to predict debt crises, it is necessary to identify the sources of risk, and accept uncertainty as a feature of the current environment.

Measuring Country Risk

2018 ◽  
pp. 81-98
Author(s):  
Nerea San-Martín-Albizuri ◽  
Arturo Rodríguez-Castellanos
Keyword(s):  
Shock Waves ◽  
Country Risk ◽  
Subprime Crisis ◽  
Private Debt ◽  
Market Participants ◽  
Pros And Cons ◽  
Debt Crises ◽  
The Way

The concept of “country risk” has once again come under the spotlight. Globalization, the shock-waves of the subprime crisis, manifested in sovereign and private debt crises, and the fear to a “contagion” of risk between market participants are, among others, the reasons that make topical this form of risk. The aim of this chapter is to offer an overview of the factors that influence country risk, and an analysis of the methods most commonly used to measure it, with a discussion of their pros and cons. The conclusion is that none of those methods have offered satisfactory results. In this regard, the authors propose a change in the way to analyze country risk. Rather than attempting to predict debt crises, it is necessary to identify the sources of risk, and accept uncertainty as a feature of the current environment.

Contested Illegality

2017 ◽  
Author(s):  
Annette Hübschle
Keyword(s):  
Supply Chain ◽  
Economic Exchange ◽  
Political Decision ◽  
Market Participants ◽  
Effective Implementation ◽  
Cultural Legitimacy ◽  
The Way

This chapter shows that the illegalization of an economic exchange is not a straightforward political decision with fixed goalposts, but a protracted process that may encounter unexpected hurdles along the way to effective implementation and enforcement. While political considerations informed the decision to ban trade in rhino horn initially, diffusion of the prohibition has been uneven and lacks social and cultural legitimacy among key actors along the supply chain. Moreover, some market actors justify their participation in illegal rhino horn markets based on the perceived illegitimacy of the rhino horn prohibition. The concept of “contested illegality” captures an important legitimization device of market participants who do not accept the trade ban.

Visualising global currents of international students between 1999 and 2018

2021 ◽  
pp. 0308518X2110551
Author(s):  
Hengyu Gu ◽  
Zhibin Xu ◽  
Jiansong Zheng ◽  
Tiyan Shen
Keyword(s):  
International Students ◽  
Student Mobility ◽  
Chord Diagram ◽  
Global Circulation ◽  
Pros And Cons ◽  
Research Gap ◽  
Catch Up ◽  
Migration Flows ◽  
The Way

The flows of international students are like the currents of the oceans, not only affecting the individuals adrift in them but the global circulation of policy, economics and academics as a whole, bearing pros and cons for each country or region along the way. To date, there has not been a detailed and elaborate description of the fluxes of international students over decades. In light of the research gap, the article utilises the chord diagram to draw threads between each pair of origin and destination of international students in the last 20 years and divides the periods into four main phases. With each phase exhibiting its specific features, we have tentatively concluded that the global student mobility structure has evolved from Arterial (1999–2003), Breakthrough (2004–2008) to Catch-Up (2009–2013), and lastly, Diversification (2014–2018). Corresponding reasons underpinning each change of the migration flows are also discussed briefly in the article.

scholarly journals Social Loss Corruption Cases in Indonesia: How Should the Corruptors Punished?

2019 ◽  
Vol 4 (1) ◽  
pp. 65-82
Author(s):  
Suci Nabila
Keyword(s):  
Political Power ◽  
Deterrent Effect ◽  
Death Sentence ◽  
Social Loss ◽  
Pros And Cons ◽  
The Way

Corruption is a serious problem that occurs in a country including Indonesia. Corruption is a problem that has a very big impact on the country and causes a lot of losses that its handling has not been taken seriously. This crime is very difficult to eradicate, because it is usually carried out in a systematic way and involves the authorities or people who hold economic and political power. In various countries the way to punish perpetrators of corruption is very diverse. In Indonesia alone the punishment used is a sentence of imprisonment. But the sentence of confinement in Indonesia is considered to have a deterrent effect. It is appropriate for a corruptor to be given severe sanctions and give a deterrent effect, one of which is a death sentence. But in Indonesia there are pros and cons regarding this death sentence.

“How Nice That I Could Love Someone”: Science Fiction Film as a Virtual Laboratory

2020 ◽  
Author(s):  
Frederieke Y. Jansen
Keyword(s):  
Science Fiction ◽  
Narrative Structure ◽  
Virtual Laboratory ◽  
Virtual Laboratories ◽  
Meaningful Relationship ◽  
Pros And Cons ◽  
The Way

While we already know that clearly utopian or dystopian depictions of human-machine relationships in science fiction film can be effective rhetorical models that shape our ideas of HRI, this paper argues that sci-fi films, like Marjorie Prime (2017) and Be Right Back (2013), can also function as more neutral virtual laboratories that allow viewers to actively explore the pros and cons of those relationships in more detail. This paper specifically explores both Marjorie Prime and Be Right Back for the way they evoke questions or ideas about what it means to be human, what it means to interact with AI, and what a meaningful relationship between these two can bring. By following a neoformalist analysis, I will show how these cases continuously present us with devices that force us to reassess the role of robots in our lives. They do this by using deceptive, reflective, and confrontational strategies within characters, cinematography, narrative structure and setting.

scholarly journals Determining efficiency of cycloid reducers using different calculation methods

2019 ◽  
Vol 290 ◽  
pp. 01008
Author(s):  
Milos Matejic ◽  
Mirko Blagojevic ◽  
Ileana Ioana Cofaru ◽  
Nenad Kostic ◽  
Nenad Petrovic ◽  
...  
Keyword(s):  
Comparative Analysis ◽  
Analytical Methods ◽  
Common Property ◽  
Experimental Results ◽  
Calculation Methods ◽  
Wide Range ◽  
Pros And Cons ◽  
Gear Trains ◽  
Central Gear ◽  
The Way

Cycloid reducers are gear trains which can be classified as planetary transmissions. These transmissions have a very wide range of uses in industry in transporters, robots, satellites, etc. This research presents a comparative analysis of three analytical methods for determining cycloid drive efficiency. The paper explores every mathematically formulated method and compares them to experimental results from literature. The presented methods for determining efficiency have a common property, in that they all determine losses due to friction on the bearing cam surface of the shaft, the rollers of the central gear and the output rollers. The calculation of efficiency values is done for standard power values. The methods differ primarily in the way they calculate losses. For each method of calculating efficiency there is an analysis of pros and cons. The paper concludes with suggestions as well as possible directions for further research.

High-Frequency Trading and Conflict in the Financial Markets

2017 ◽  
Vol 32 (3) ◽  
pp. 270-282 ◽  
Author(s):  
Ricky Cooper ◽  
Jonathan Seddon ◽  
Ben Van Vliet
Keyword(s):  
Financial Markets ◽  
High Frequency ◽  
High Frequency Trading ◽  
Market Makers ◽  
Market Participants ◽  
Software Vendor ◽  
Traditional Market ◽  
Recent Developments ◽  
The Way

The last few decades has seen an ever-increasing growth in the way activities are productized and associated with a financial cost. This phenomenon, termed financialization, spans all areas including government, finance, health and manufacturing. Recent developments within finance over that past decade have radically altered the way trading occurs. This paper analyses high-frequency trading (HFT) as a necessary component of the infrastructure that makes financialization possible. Through interviews with HFT firms, a software vendor, regulators and banks, the effects of HFT on market efficiency, and its impact on costs to long-term investors are explored. This paper contributes to the literature by exploring the conflict that exists between HFT and traditional market makers in today's fragmented markets. This paper argues that society should be unconcerned with this conflict and should instead focus on the effects these participants have on the long-term investors, for whom the markets ultimately exist. In order to facilitate the best outcomes, regulation should be simple, aimed at keeping participants’ behavior stable, and the interactions among them transparent and straightforward. Financialization and HFT are inextricably linked, and society is best served by ensuring that the creative energy of these market participants is directed on providing liquidity and removing inefficiencies.

scholarly journals THE VEDAS AND BHAKTI HARMONIZED - KŌVALŪR: THE MUTAL ĀḺVĀRS AND TIRUMAṄKAI

2021 ◽  
Vol 2 (2) ◽  
pp. 14-33
Author(s):  
Kesava Rajarajan
Keyword(s):  
Present Article ◽  
Unanimous Opinion ◽  
Indian Tradition ◽  
Pros And Cons ◽  
The Way

The unanimous opinion among religious philosophers is that the Vedas and bhakti are two different denominators of approach to God in Indian tradition. However, the Tamil Vaiṣṇava mystics, the Āḻvārs find a harmonious blend of the two modes in ritual worship. The present article examines the pros and cons of the problem from a study of the hymns beginning with the Mutal (Early) Āḻvārs and last in the train, Tirumaṅkai. The cited hymns are replete with the bounties of nature associated with the divyadeśa-Kōvalūr that we examine for a case study. Bhakti or the Veda is the euphony linked with nature. The present article explains how the Āḻvārs had harmonized the Veda with bhakti. These are complementary modes of approach to God. They are not conflicting phenomena. By the way, data bearing on flora and fauna dumped in the twenty-one hymns on Kōvalūr are presented in a capsule (Attachment).

scholarly journals Miłosz the Visionary: His American experience in Visions from San Francisco Bay

2020 ◽  
Vol 17 (1) ◽  
pp. 40-51
Author(s):  
Ania Grudzien
Keyword(s):  
San Francisco ◽  
San Francisco Bay ◽  
Nobel Prize Winner ◽  
Literary Analysis ◽  
Communist Regime ◽  
Czeslaw Milosz ◽  
American Experience ◽  
Pros And Cons ◽  
The 1960S ◽  
The Way

Nobel Prize winner Czesław Miłosz is one of the most influential poets, prosiest, philosophers, and diplomats, his works spanning two centuries and multiple continents. Born in 1911, in what is now modern-day Lithuania, Miłosz spent most of his professional life in Europe including Poland and France. In 1960, fleeing the power of the communist regime, he found political asylum in California, teaching in the Slavic languages department at the University of California Berkley. The following paper examines Czesław Miłosz’s perspective on the radical West culture of the 1960s and ‘70s in his book Visions from San Francisco Bay. This work brings attention to previously unnoticed English mistranslations. I propose a new translation to reflect Miłosz’s original meaning, which changes the way English readers interpret his American experience as well as his book Visions from San Francisco Bay. Specifically, I consider two sets of Miłosz’s pros and cons which he crafted to describe the essence of his American experience, and one set of pros and cons I crafted from his writing to frame his experience. These juxtaposing pros and cons ultimately led him to the conclusion of the importance of richly interpreting one’s reality, especially in a time of change and uncertainty. By way of comparative literary analysis of Miłosz’s Visions and selected poems, we change the way we traditionally think of the ‘60s and ‘70s, realizing that instead of being a time of explosive interpretive energy, this was a time when Americans fell away from rich interpretation of their metaphysical realities.

scholarly journals Les groupements d'intérêt économique

2005 ◽  
Vol 22 (2) ◽  
pp. 383-427
Author(s):  
Yves Guyon
Keyword(s):  
Joint Venture ◽  
Legal Aspect ◽  
Legal Framework ◽  
Services Research ◽  
Marketing Department ◽  
Legal Entity ◽  
Pros And Cons ◽  
Overall Performance ◽  
Business Enterprises ◽  
The Way

Collaboration between different business enterprises has become a must in our days of financial, technical and commercial complexity. It is highly encouraged by governments and businessmen. The traditional legal techniques known and frequently used in Canada appear however to be inadequate in some cases. The French legislator has innovated in the field by creating, in 1967, the legal framework of the Groupement d'intérêt économique (G.I.E.) The G.I.E. is an institution that has the separate legal entity of the corporation while maintaining the joint, several and illimited liability of the partners. The G.I.E. is all the way neutral. It is not aimed to generate direct profits for itself or the partners but allows the involved partners to have a better overall performance. Since 1967, over 9000 G.I.E. have been created in France to cover fields as different as the Airbus joint venture, communal maintenance services, research publicity or marketing department, buying or export offices, etc. This article, written by a leading academic, discusses the different legal aspect of the G.I.E. and explains the pros and cons of the institution.

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