Conditions on aid agreements aim to increase aid effectiveness, and are, therefore, an
important component of aid agreements. Yet little is known about why aid-recipient …

Countries with strong executive constraints have lower growth volatility but similar average
growth to those with weak constraints. This paper argues that this may explain the …

This paper explores firms' strategic options when their investments are subject to the threat
of government expropriation. I develop a simple hold-up model of political risk. In the model …

The purpose of this paper is to test the relevance of the globalization variable for Political
Risk Analysis (PRA). The concept of political risk and the analysis methodology adopted and …

Globalization has accelerated the development of international businesses, as well as that
of international risks. Of these international risks, political risk comprises one of the principal …