Cover -- Contents -- List of Figures and Tables -- Foreword -- 1 Global Investing -- Types of Investing -- Country Analysis -- Principles of Investing -- Our Approach -- Further Reading -- 2 Economic Indicators -- Learning Objectives -- Gross Domestic Product -- Inflation -- Per Capita Figures -- Income Distribution -- US Dollar Equivalents -- Is Gross Domestic Product the Best Measure of a Nation's Health? -- Unemployment -- Interest Rates -- Conclusion -- Further Reading -- 3 A Frame of Reference: The Washington Consensus -- Learning Objectives -- A Brief Historical Background -- The Washington Consensus -- More Detail about the Criteria -- The Principles in Action -- Criticisms of the Washington Consensus -- How we use the Criteria -- The Consensus and the World Financial Crisis -- Conclusion -- Further Reading -- 4 Evaluating Governance and Culture -- Learning Objectives -- What do Governments do? -- Why Institutions Matter -- Summary of Governance -- Why Culture Matters -- Summary of Culture -- Conclusion -- Further Reading -- 5 Evaluating Fiscal Policy -- Learning Objectives -- Budget of the United States Government -- National Debt -- Economics of the Budget -- Budget Process in the United States -- Measuring Government Risk -- Conclusion -- Further Reading -- 6 Evaluating Monetary Policy -- Learning Objectives -- What is Money? -- A Brief History of Banking -- The United States Central Bank -- What does a Central Bank do? -- How do the Policy Tools Work? -- What Happens at the Fed? -- Confidence -- How does the Central Bank Relate to the Treasury? -- Measuring Central Bank Risk -- Conclusion -- Further Reading -- 7 Evaluating International Transactions: The Balance of Payments -- Learning Objectives -- The Importance of Reserves -- Accounts in the Balance of Payments -- Accounting Enters the Picture -- Balance of Payments as Flows.

Economic Implications of the Balance of Payment Figures -- Measuring Balance of Payment Risk -- Managing the Balance of Payments -- Confidence, Again -- Conclusion -- Further Reading -- 8 Currencies -- Learning Objectives -- What is an Exchange Rate? -- Purchasing a French Government Security -- Appreciation and Depreciation -- Why do Exchange Rates Change? -- Exporters and Importers -- Predicting Exchange Rates -- Conclusion -- Further Reading -- 9 Managing Currency Risk -- Learning Objectives -- The French Security Investment -- Hedging Currency Risk -- Is Hedging Always Necessary? -- What Happens to Risk? -- Derivatives -- The 2008 Financial Crisis -- Conclusion -- Further Reading -- Summary of Risk Measures -- Index.

The ability to connect theoretical macroeconomics to the analysis of the economic and political performance of a given country is an essential skill for global investors. In Country Analysis: Understanding Economic and Political Performance, David M. Currie takes a unique analytical approach to the subject, clearly demonstrating the relationship between theory and application in investing practices. This valuable book shows how to interpret country performance and provides the practising investor with sufficient background on economic principles to be able to understand and interpret country summaries that appear in business periodicals and other media. It covers key topics such as the Washington Consensus and the three major categories of economic decisions - fiscal policy, monetary policy and trade policy. It includes an important chapter on the political aspect of government performance, to give the reader an understanding of economic decisions in their true context. Country Analysis explains the reasoning behind the criteria used in evaluating country risk and economic performance, without the need for a sophisticated understanding of economics or mathematics. Each chapter includes a series of text boxes that include real-life examples from business periodicals to reinforce what is discussed and enable readers to practice identifying and interpreting relevant information. Practitioners making investment decisions in global markets, as well as students in MBA and other courses, will find this immensely practical book a valuable aid to critical decision making.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.