The Company States Keep: International Economic Organizations and Investor Perceptions

by Julia Gray

This book argues that investor risk in emerging markets hinges on the company a country keeps. When a country signs on to an economic agreement with states that are widely known to be stable, it looks less risky. Conversely, when a country joins a group with more unstable members, it looks more risky. Investors use the company a country keeps as a heuristic in evaluating that country's willingness to honor its sovereign debt obligations. This has important implications for the study of international cooperation as well as of sovereign risk and credibility at the domestic level.

250 pages, Hardcover

First published August 31, 2013

About the author

Julia Gray is the pseudonym of Mark and Julia Smith, a married couple who live and work in Norfolk. Having met while they were both working for a major London publishing house, they sparked each other into creative life, and began writing as a team a few months after setting up home together. They have been writing full time since 1991. They also publish under the pseudonym Jonathan Wylie.