Abstract
Political risk is a term with multiple contexts. From an economic viewpoint, it is associated mainly with risks in business operations and private or public investments affected by politics; from an International Relations viewpoint, it is used to “risk” as a concept, but without the “business” or “investment” perspectives. In this work, we aim to match International Relations theory constructs with the constructs of widely used Political Risk Indices and thus identify how the perspectives relate and complement each other. Our objective is to elicit the suitability of political risk frameworks, from an economic standpoint, for decision-making purposes under alternate International Relations standpoints and vice versa.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Clapton, W. (2011). Risk in international relations. International Relations, 25(3), 280–295.
Coplin, W. D., & O’Leary, M. K. (1983). Systematic political risk analysis for planners. Planning Review, 11(1), 14–17.
Doyle, M. W. (1988). Liberalism and world politics. The American Political Science Review, 80(4), 1151–1169.
Griffiths, M., & O’Callaghan, T. (2002). International relations: The key concepts. London: Routledge.
Howell, L. D. (2014). Evaluating political risk forecasting models: What works? Thunderbird International Business Review, 56(4), 305–316.
Howell, L. D., & Chaddick, B. (1994). Models of political risk for foreign investment and trade: An assessment of three approaches. The Columbia Journal of World Business, 70–91.
Jackson, R., & Sørensen, G. (2006). Social constructivism. In Introduction to international relations: Theories and approaches (pp. 161–177). Oxford University Press.
Nye, J. S. (1988). Neorealism and neoliberalism. World Politics, 40(2), 235–251.
Psychogyios, I., & Koutsoukis, N.-S. (2018). Political risk frameworks: A literature review. In S. Roukanas, P. Polychronidou, & A. Karasavvoglou (Eds.), The political economy of development in southeastern Europe.
Rigakos, G. S., & Law, A. (2009). Risk, realism and the politics of resistance. Critical Sociology, 35(1), 79–103.
Segbers, K., Dyllick-Brenzinger, P., Hoffmann, K., & Mauersberger, C. (2006). Global politics: How to use and apply theories of international relations. Berlin: Osteuropa-Institut der Freien Universität Berlin.
The PRS Group. (2017a). Our two methodologies/PRS. Retrieved November 03, 2017, from http://www.prsgroup.com/about-us/our-two-methodologies/prs.
The PRS Group. (2017b). Our two methodologies/ICRG. Retrieved November 03, 2017, from http://www.prsgroup.com/about-us/our-two-methodologies/icrg.
Wendt, A. (1992). Anarchy is what states make of it: The social construction of power politics. International Organization, 46(2), 391–425.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this paper
Cite this paper
Psychogyios, I., Fakiolas, E., Koutsoukis, N.S. (2020). Political Risk Complementarity Between Business Economics and International Relations. In: Janowicz-Lomott, M., Łyskawa, K., Polychronidou, P., Karasavvoglou, A. (eds) Economic and Financial Challenges for Balkan and Eastern European Countries. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-39927-6_1
Download citation
DOI: https://doi.org/10.1007/978-3-030-39927-6_1
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-39926-9
Online ISBN: 978-3-030-39927-6
eBook Packages: Economics and FinanceEconomics and Finance (R0)