The ICRG, Geopolitics, and Investment: What is the Connection? Evidence from the Finance Literature

“[The International Country Risk Guide] is forward-looking and reflects political risk as opposed to an aggregate or broad measure of country risk which also incorporates macro-economic factors. There is ample evidence in the literature that it correctly reflects that adverse effects of political risk on investment values across countries.’

Professor Kwabena Kesse
“SOVEREIGN RISK CHANNELS AND EXCHANGE RATES”
QUARTERLY JOURNAL OF FINANCE AND ACCOUNTING 2017.

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