Investing with Confidence: Understanding Political Risk
Management in the 21st Century is the latest book in a series based
on the MIGA–Georgetown University Symposium on International
Political Risk Management. The most recent symposium brought together
almost 200 senior practitioners from the political risk insurance (PRI)
industry, including investors, insurers, brokers, lenders, academics,
and members of the legal community. This volume addresses the key
issues relevant for investors today, including arbitration,
understanding and pricing for risk, and new developments in investments
through timely assessments from 15 experts in the fields of
international investment, finance, insurance, law, and academia.
Contributors to this volume examine key political risk issues
including claims and arbitration, perspectives on pricing from private,
public and multilateral providers, and explore new frontiers in
sovereign wealth funds and Islamic finance. The volume begins with a
look back to the founding of International Center for the Settlement of
Investment Disputes (ICSID) and MIGA and the respective visions for
both of these important institutions. It continues with a review of new
developments in global finance and risk management, including Islamic
finance and sovereign wealth funds, and provides an investor
perspective of what drives the decision making process on procuring
political risk insurance. The volume then turns to consider
methodologies of pricing from the private, public, and multilateral
perspectives, and examines the expropriation and the pledge of shares.
This section focuses on key legal questions such as understanding
expropriation and the outcome of arbitration hearings, the latter being
particularly relevant given the number of cases currently before
arbitral panels. The volume concludes with an overview of the key
thoughts raised by the authors and the implications for investors going
forward.
Investing with Confidence offers valuable insights for
practitioners and investors alike and is particularly relevant in
today’s uncertain markets.
TABLE OF CONTENTS
PART I. GLOBAL FINANCE AND POTENTIAL FOR POLITICAL RISK
INSURANCE
Toward a Greater Depoliticization of Investment Disputes: The Roles
of ICSID and MIGA
Ibrahim F. I. Shihata
The Global Financial Crisis and the Future of International
Financial Institutions
James Bond
Principles and Development of Islamic Finance
Zamir Iqbal
Sovereign Wealth Funds, Financial Crisis, and Management of
Noncommercial Risk
Roxanna Faily, Kevin W. Lu, and Shuilin Wang
The Changing Face of Political Risk
Patrick Garver
PART II. ADVANCEMENTS IN RECURRING ISSUES AND NEW DIMENSIONS FOR
POLITICAL RISK INSURANCE
Linking Political Risk Insurance Pricing and Portfolio Management
with Economic Capital Modeling: A Multilateral Perspective?
Mikael Sundberg, Faisal Quraishi, and Sidhartha Choudhury
Issues Affecting Pricing in the Political Risk Insurance Market, and
a Probabilistic Approach to Measuring Country Risk in a Political Risk
Insurance Portfolio
Edward Coppola
Public Sector Pricing:How to Balance a Public Mandate with Adequate
Returns for Political Risk
Joanne Palmer
Expropriation and the Share Pledge Dilemma: An Assessment of
Individual Rights and Compensation Claims
Srilal M. Perera
Emerging Issues in the Enforcement of Foreign Arbitral Awards
Joseph R. Profaizer
To Risk or Not to Risk? The State's Perspective of
Investor-State Dispute Resolution at the 20th Anniversary of MIGA
Ignacio Torterola and Ronan McHugh
Calculating Damages: Arbitrators, Counsel, and Experts Can Do Better
Than They Have in the Past
Andrea Saldarriaga and Mark Kantor
An Approach to Financial Valuation for Arbitration Awards
Faisal A. Quraishi
Concluding Comments
Gero Verheyen and Srilal M. Perera
- Shipping Weight: 1.16 lbs (0.53 kgs)
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