Country Risk in the Post-Crisis Landscape

Deceanu Liviu () and Rovinaru Flavius ()
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Deceanu Liviu: „Babes Bolyai” University of Cluj-Napoca, Faculty of Economic Sciences
Rovinaru Flavius: „Babes Bolyai” University of Cluj-Napoca, Faculty of Economic Sciences

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 559-564

Abstract: The financial crises that have occurred in recent decades, affecting the entire international financial system and beyond, have highlighted the existing gaps in the models of country risk analysis, models that cannot provide, in most cases, an anticipation of the collapse. The crisis multiplication caused important mutations concerning the different features of country risk, the crises manifested worldwide creating new forms of risk, and making its assessment more complex. If Country risk is shaped by the crisis, it, in turn, may influence the manifestation of the crisis. A current example is the sovereign country risk component, which meets the characteristics that make it able to prolong the depression. What we propose in this brief paper is a “radiography” of the country risk in a crisis context, paving the way for future studies aiming to establish specific risk indicators, in order to facilitate the anticipation of crises.

Keywords: economic crisis; country risk; sovereign risk; external debt; warning indicators. (search for similar items in EconPapers)
JEL-codes: F31 F34 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:559-564

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