Category: Histories
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Billion Dollar Brand Name Given Away
Rework requested Just a few years ago, a cereal was linguistically associated with Kellogg’s. Anyone who spoke of Kellogg’s in Germany thought of cornflakes and vice versa, anyone who thought of cornflakes would also think of Kellogg’s. In the meantime, discount chains – from Germany for example – such as Aldi and Lidl have revolutionized […]
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Coping with Sovereign Risk Since 1991
This blog article is based on Country Risk – The Bane of Foreign Investors (Springer, 2020) by Norbert Gaillard. Both the number and percentage of countries in default reached record highs during the globalization years (1991–2016). In 1994, 114 sovereign debtors – accounting for 54% of all countries in the world – had failed to […]
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The Dynamics of Free Trade and FDI during the Globalization Era
Multilateralism waned, but the process of trade liberalization continued. This blog article is a short excerpt from Country Risk – The Bane of Foreign Investors (Springer, 2020) by Norbert Gaillard. International trade went through unexpected and paradoxical changes during the globalization era (1991–2016). Multilateralism waned, but the process of trade liberalization continued. For instance, the […]
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The Boom of Emerging Sovereign Bond Markets during 1991–2016
A remarkable feature of the globalization era was the enhanced credit position of many emerging economies. This blog article is a short excerpt from Country Risk – The Bane of Foreign Investors (Springer, 2020) by Norbert Gaillard. This development is perhaps best captured by the modest growth of external debt. During 1991–2016, the public and […]
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Genealogy of Country Risk
It is difficult to determine exactly when the concept of country risk was forged. The expression was used as far back as 1967 by Frederick Dahl – then assistant director of the Division of Examinations at the Board of Governors of the US Federal Reserve System – in a research paper addressing the international operations […]
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History and Future of Ratings
In the 1980’s we at RATING EVIDENCE GmbH got to know ratings of American agencies. Even back then, these agencies were 80 years old, since they started operating shortly after the turn of the century. For decades, there were comparatively few changes in these agencies, as it was not until the 1980s that computers became […]
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History and Future of Ratings
In the 1980’s we at RATING EVIDENCE GmbH got to know the rating of American agencies. Even back then, these agencies were 80 years old, since they started operating shortly after the turn of the century. For decades, there were comparatively few changes in these agencies, as it was not until the 1980s that computers […]
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China’s Social Credit System
The Social Credit System (SCS) is perhaps the most prominent manifestation of the Chinese government’s intention to reinforce legal, regulatory and policy processes through the application of information technology, writes Rogier Creemers, Van Vollenhoven Institute at Leiden University. Yet its organizational specifics have not yet received academic scrutiny. He published a paper which identifies the […]
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