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Risk Management in Developing Countries by Stijn Claessens Pdf
Modern risk management techniques can help countries avoid the financial risks that affect future cash flows and long-term plans. They provide a hedge against profit fluctuations caused by changes in interest rates, exchange rates, and commodity prices. This easy-to-use guide examines the risk management tools developing countries have used successfully, including futures, options, forward contracts, commodity swaps, commodity bonds, commodity linked loans, currency rate swaps, and interest rate swaps. An action plan explains how to use the techniques wisely to avoid costly mistakes. It also describes the economic management and financial regulations countries must have in place before adopting any risk management techniques.
Author : World Bank Publisher : World Bank Publications Page : 363 pages File Size : 42,6 Mb Release : 2013-10 Category : Business & Economics ISBN : 9780821399033
The World Development Report 2014 examines how improving risk management can lead to larger gains in development and poverty reduction. It argues that improving risk management is crucial to reduce the negative impacts of shocks and hazards, but also to enable people to pursue new opportunities for growth and prosperity.
World Development Report 2014 by World Bank Group Pdf
The last 25 years have witnessed unprecedented changes around the worldmany of them for the better. In all continents, numerous countries have embarked on a path of international integration, economic reform, technological modernization, and democratic participation. As result, economies that had been stagnant for decades are growing, people who had suffered deprivation for generations are escaping poverty, and hundreds of millions are enjoying the benefits of improved living standards and scientific and cultural sharing across nations. As the world changes, a host of opportunities arise constantly. With them, however, old and new risks appear, from the possibility of job loss and disease to the potential for social unrest and environmental damage. If ignored, these risks can turn into crises that reverse hard-fought gains and endanger the social and economic reforms that produced these gains. The World Development Report 2014, Managing Risk for Development, contends that the solution is not to reject the changes that bring about opportunities along with risks, but to prepare for them in a proactive and holistic way. Thus, managing risks responsibly and effectively has the potential to bring about a sense of security and means of progress to people in developing countries and beyond. Although individuals initiative and responsibility are essential for managing risk, their success can only be limited without a supportive social environment, especially when risks are large or systemic in nature. The WDR 2014 argues that a way in which people can successfully confront risks and opportunities that are beyond their means is to share their risk management with others. This can be done through naturally occurring social and economic systems that enable people to overcome the obstacles that individuals and groups suffer from, including lack of resources and information, cognitive and behavioral failures, missing markets and public goods, and social externalities and exclusion. These systems from the household and the community to the state and the international communityhave the potential to support peoples risk management in different yet complementary ways. The WDR 2014 presents a detailed approach and specific advice to improve resilience. For policy makers in developing (and developed) countries, the Report also provides strategic recommendations that cut across risks and social systems in an integrated framework. They attempt to provide both innovative solutions to long-standing problems in poor and emerging economies and ways to mainstream risk management into the development agenda. These recommendations should serve to guide the dialogue, operations, and contributions from key development actors from civil society and national governments to the donor community and international development organizations.
Managing Risk in Developing Countries by Barbara C. Samuels Pdf
In light of the increasing global competition among both multinational companies and national economies, Barbara Samuels examines a source of economic tension that has broad social implications: as multinational companies (MNCs) strive for cheaper labor and new markets, less-developed countries (LDCs) are becoming more concerned with extracting benefits from these companies to achieve their development objectives. Samuels centers her study on the variables shaping the responses of MNCs to national demands while considering current debates on country risk, global competitiveness, and national industrial policy. Advancing a micro-view of the MNC and its host country in two case studies, Samuels shows how an MNC subsidiary's integration with headquarters and its closeness with local government affect its management of risk and its ability to deal with LDC demands. Here the author investigates the labor and investment policy changes brought about when various automotive subsidiaries interacted with national interest groups in Brazil and with the government in Mexico. Both cases illustrate how the policy response of one subsidiary creates the dynamics for defensive policy changes of its competitors. MNC managers and LDC policymakers can draw important conclusions. Originally published in 1990. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
How Firms in Developing Countries Manage Risk by Jack D. Glen Pdf
This paper considers the use of risk management techniques and instruments by firms in developing countries. Increased financial market volatility in recent years has led to the development of a number of new financial instruments for managing the risks associated with specific transactions. In most developing countries, however, firms face substantial obstacles to using these instruments. Despite that, developing country managers are becoming more and more aware of the need to manage risk. In many cases, they have turned to the International Finance Companies as a source of information on risk management and for assistance in accessing new risk management instruments. In addition to the financial risks that often accompany transactions, many firms in developing countries suffer from exposure to other economic risks, especially the risk of long-runovervaluation/undervaluation of their local currency. This type of exposure is more difficult to measure and manage than purely transactional exposures, but can have very significant effects oncompetitiveness. Unlike the management of transaction exposure, which most often involves use of financial instruments, management of economic exposure requires operational and marketing strategies in order to be effective.
"The last 25 years have witnessed unprecedented changes around the world - many of them for the better. In all continents, numerous countries have embarked on a path of international integration, economic reform, technological modernization, and democratic participation. As result, economies that had been stagnant for decades are growing, people who had suffered deprivation for generations are escaping poverty, and hundreds of millions are enjoying the benefits of improved living standards and scientific and cultural sharing across nations. As the world changes, a host of opportunities arise constantly. With them, however, old and new risks appear, from the possibility of job loss and disease to the potential for social unrest and environmental damage. If ignored, these risks can turn into crises that reverse hard-fought gains and endanger the social and economic reforms that produced these gains. World Development Report (WDR) 2014: Managing Risk for Development, contends that the solution is not to reject the changes that bring about opportunities along with risks, but to prepare for them in a proactive and holistic way. Thus, managing risks responsibly and effectively has the potential to bring about a sense of security and means of progress to people in developing countries and beyond. Although individuals' initiative and responsibility are essential for managing risk, their success can only be limited without a supportive social environment, especially when risks are large or systemic in nature. The WDR 2014 argues that a way in which people can successfully confront risks and opportunities that are beyond their means is to share their risk management with others. This can be done through naturally occurring social and economic systems that enable people to overcome the obstacles that individuals and groups suffer from, including lack of resources and information, cognitive and behavioral failures, missing markets and public goods, and social externalities and exclusion. These systems - from the household and the community to the state and the international community-have the potential to support people's risk management in different yet complementary ways." -- World Bank website.
Environmental and Human Health by Eddie N. Laboy-Nieves,Mattheus F.A. Goosen,Evens Emmanuel Pdf
Many countries experience lack of harmony among economic development, environmental management and human health. As a consequence, public health, the integrity of ecosystems, and the efforts to reach environmental sustainability, have been adversely affected. The complexity, frequency and magnitude of those impacts is increasingly parallel to the t
Taking Stock of Risk Management Techniques for Sovereigns by Stijn Claessens Pdf
This paper reviews the current state of affairs and thinking on external risk management for developing countries. It tries to identify the reasons behind the limited risk management by sovereigns. Perverse incentives arising from a too generous international safety net, limited access to international financial markets by developing countries arising from low creditworthiness, a limited supply of financial risk management tools suited to developing countries, and a poor supply of skills have inhibited risk management. Another constraint has been the limited attention given to the strategic objectives for risk management. Going forward, the paper identifies actions by international financial markets, countries and international financial institutions that can help improve risk management.
Corporate Risk Management in Emerging Markets by Marvin Arras Pdf
Managing risks is essential for corporations and has a tremendous impact on their performance. However, doing it sufficiently can be challenging, especially in Emerging Markets (EMs). Due to its underdeveloped environment, corporations often face enormous difficulties while managing risk in these countries. The purpose of this study is to outline the issues and differences of corporate risk management in emerging economies compared to Developed Markets (DMs). After a short introduction, the second chapter describes risk management in DMs and gives an overview of common corporate risks. The third chapter characterizes EMs and details its risk management. In that connection, the focus lies on (1) the risk management process, (2) the measurement of risk and (3) the tools and techniques to mitigate risks in EMs. Conclusively, the study summarizes the main factors for corporations that are fundamental for managing risks in EMs effectively.
Author : J. David Cummins,Olivier Mahul Publisher : World Bank Publications Page : 299 pages File Size : 52,7 Mb Release : 2009 Category : Political Science ISBN : 9780821377369
Catastrophe Risk Financing in Developing Countries by J. David Cummins,Olivier Mahul Pdf
'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.
Ayodeji E. Oke,Pelumi E. Adetoro,Seyi S. Stephen,Clinton O. Aigbavboa,Lukman O. Oyewobi,Douglas O. Aghimien
Author : Ayodeji E. Oke,Pelumi E. Adetoro,Seyi S. Stephen,Clinton O. Aigbavboa,Lukman O. Oyewobi,Douglas O. Aghimien Publisher : Springer Nature Page : 184 pages File Size : 46,7 Mb Release : 2023-07-26 Category : Business & Economics ISBN : 9783031355578
Risk Management Practices in Construction by Ayodeji E. Oke,Pelumi E. Adetoro,Seyi S. Stephen,Clinton O. Aigbavboa,Lukman O. Oyewobi,Douglas O. Aghimien Pdf
This volume describes risk management practices in the construction industry in selected countries, with an emphasis on developing countries and how these countries can learn from the practices in more developed ones. Risk management in the construction industry can be difficult to understand due to the various complex procedures that are involved and to the unique concerns and contexts associated with each project. The industry has been a key contributor to the economic and social development of many countries of the world and is increasingly incorporating sustainability into its practices. However it is plagued by various risks that can affect the quality, cost, time and overall sustainability of projects. Therefore, there is need to effectively manage risk in order to ensure timely completion of construction projects in good quality and within budget, which in turn results in more efficient and often more sustainable practices. The book is divided into four parts. The first section features a primer on risk management practices as they pertain to the construction industry. The second part dives in to describe risk management in selected developing countries, including Malaysia, Qatar, Saudi-Arabia, South Africa, Sri-Lanka and Tanzania, as well as the city of Hong Kong. The third section describes the construction risk management practices of a selection of more developed countries with known risk management institutes and established practices of risk management. These countries include Australia, Canada, Sweden and United States of America. The fourth part offers a general overview of the definition, concepts and process of risk management based on reviewed literature. It also discusses the benefits of effective risk management to clients and to project teams, especially from the perspective of ensuring sustainability. This last section also summarizes the risk management practices in both developing and developed countries for the purpose of improving the practices in the former by learning from the latter.
Bank Risk Management in Developing Economies by Leonard Onyiriuba Pdf
Bank Risk Management in Developing Economies: Addressing the Unique Challenges of Domestic Banks provides an up-to-date resource on how domestically-based banks in emerging economies can provide financial services for all economic sectors while also contributing to national economic development policies. Because these types of bank are often exposed to risky sectors, they are usually set apart from foreign subsidiaries, and thus need risk models that foreign-based banks do not address. This book is the first to identify these needs, proposing solutions through the use of case studies and analyses that illustrate how developing economic banking crises are often rooted in managing composite risks. The book represents a departure from classical literature that focuses on assets, liabilities, and balance sheet management, by which developing economy banks, like their counterparts elsewhere, have not fared well. Contains fifty cases that reinforce risk management best practices Provides a consistent chapter format that includes abstract, keywords, learning focus, and outcomes Summaries, questions, and glossaries conclude each chapter
Bank Risk Management in Developing Economies by Leonard Onyiriuba Pdf
"Bank Risk Management in Developing Economies: Addressing the Unique Challenges of Domestic Banks provides an up-to-date resource on how domestically-based banks in emerging economies can provide financial services for all economic sectors while also contributing to national economic development policies. Because these types of bank are often exposed to risky sectors, they are usually set apart from foreign subsidiaries, and thus need risk models that foreign-based banks do not address. This book is the first to identify these needs, proposing solutions through the use of case studies and analyses that illustrate how developing economic banking crises are often rooted in managing composite risks. The book represents a departure from classical literature that focuses on assets, liabilities, and balance sheet management, by which developing economy banks, like their counterparts elsewhere, have not fared well"--The publisher
Author : Walter V. "Bud" Haslett, Jr. Publisher : John Wiley & Sons Page : 790 pages File Size : 50,8 Mb Release : 2010-10-05 Category : Business & Economics ISBN : 9780470934111
Risk Management by Walter V. "Bud" Haslett, Jr. Pdf
Key readings in risk management from CFA Institute, the preeminent organization representing financial analysts Risk management may have been the single most important topic in finance over the past two decades. To appreciate its complexity, one must understand the art as well as the science behind it. Risk Management: Foundations for a Changing Financial World provides investment professionals with a solid framework for understanding the theory, philosophy, and development of the practice of risk management by Outlining the evolution of risk management and how the discipline has adapted to address the future of managing risk Covering the full range of risk management issues, including firm, portfolio, and credit risk management Examining the various aspects of measuring risk and the practical aspects of managing risk Including key writings from leading risk management practitioners and academics, such as Andrew Lo, Robert Merton, John Bogle, and Richard Bookstaber For financial analysts, money managers, and others in the finance industry, this book offers an in-depth understanding of the critical topics and issues in risk management that are most important to today’s investment professionals.
