This volume provides the latest research and practical insights into assessing country risk, in-depth analysis of country risk cases, and advice on how to manage a country risk portfolio. Leading practitioners, academics, and economists discuss topics such as best practice in country risk and Basel II, theories of crises, stress-testing, measuring state stability and political risk, country risk and the private sector, country risk indicators and early warning systems, currency inconvertibility, and pricing of political risk. The authors come from such world-leading organizations as ABN Amro, Aon Political Risk, Duke University, the Bank for International Settlements, Oxford Analytica, Fitch Ratings, and the World Bank.