Evalutating country risk analysis Essay Example | Topics and Well Written Essays - 1000 words

Evalutating country risk analysis - Essay Example This inter mix of factors creates a complexity in understanding and application of CRA. (Meldrum: 2000). The measures used for risk evaluation may differ based on the experience and judgement of analysts. These may employ a number of common points initially and then lead to detailed discussion of specific issues affecting a specific sphere of interest. Thus a combination of actual and potential imbalances are calculated to apply to a broad investment category.These decisions are judgemental and hence may have limited universal application across the board. (Meldrum: 2000). Broadly the measures applied by the Political Risk Services' International Country Risk Guide (ICRG) for CRA include political, economic and financial risk. The ICRG also calculates a composite risk which is generally evolved from these base indices. A final measure which some analysts examine with reference to CRA is Institutional Investor's country credit ratings. Thus it would be seen that information is defined in a number of ways. (Erb.Harvey.Tadas:1996). Another problem in CRA is limited availability of historical data in emerging economies. This increases the uncertainty of future prediction. (Damodaran: 2004). Since risk implies identification of a well defined event from a large number of observations which is amenable to probability analysis, lack of the same results in basing CRA on uncertainy. (Meldrum: 2000). Thus analysts tend to construct the risk based on judgmental factors rather than probabilistic criteria. CRA ratings which are easily accessible are by ratings age ncies which measure default risk and equity risk which is generally derived. (Damodaran: 2003). These differing perspectives necessitate the need to evolve systematic methodologies for CRA. Impact of Differing Geographical and Time Perspectives Risks between countries can vary due to national differences in economy, policy, geography, currency and a host of socio-political factors. For example comparing the period in Romania in the pre and post Cold War era uniformly is likely to result in totally varied results. However many times risk analysts tend to use uniform criteria to assess country risks beyond time as well as situations differential faced in making such an assessment. While inclusive country risk measures are correlated with each other, for higher returns risk analysts recommend value-oriented strategies across the board which may create anomalies. (Erb.Harvey.Tadas:1996). Thus factors which are common for all countries need to be identified. Application of financial risk measures is likely to be done uniformly evolving information of future expected returns and political risk criteria are likely to be ignored. (Erb.Harvey.Tadas:1996). This is supported by evidence from ICRG composite, financial and economic ratings, which appear standardised. (Erb.Harvey.Tadas:1996). While economic factors are also evolving the real challenge is to assess the political risk particularly in emerging economies as Romania. Problems of Quantitative and Qualitative Methods CRA include a mix of qualitative and quantitative analysis. Some as the Bank of America World Information Services is based exclusively on quantitative information while the Institutional Investor is a qualitative survey based on opinions of banking professionals taking a number of non quantitative factors

Why the approach of Radical Feminism to prostitution is most superior Essay

Why the approach of Radical Feminism to prostitution is most superior - Essay Example While some see no problem with prostitution and defend it, others strongly call for the force of law to dispel this horrendous activity which has grave social repercussions. Many approaches have been identified by scholars over the years to understand and analyze the issue of prostitution. The three key approaches identified by Jaggar in her paper are related to liberalism, radical feminism, and classical Marxism. Each one of these approaches is comprehensively explicated and related to prostitution to analyze the merits offered by all three. My argument is this essay is that of all three approaches, radical feminism is the most preferable approach to prostitution because I believe that the women who engage in this practice do not engage out of free will, but are forced to do so being victims of oppression. To clarify this argument, I will start by briefly discussing the theme of both the liberal and Marxist approaches first and then I will scrutinize my preferred approach at length to prove why it is better. I will also include one objection to my position on this subject. According to the liberal approach as discussed by Jaggar, considering the practice of prostitution illegal or offensive is both a conservative and objectionable ideology. Proponents of this approach argue that prostitution should be decriminalized because taking legal measures against it would be a clear violation of thousands of women’s rights who engage in this practice by full consent. They also claim that any psychological or emotional disadvantages brought by offering sexual services are dwarfed by many benefits in the form of financial assistance ensured by this activity to women. Such liberals consider the defenders of radical feminism arrogant and manipulative who in the name of defending women’s rights actually work to make them more disadvantaged. The liberal approach disapproves equating prostitution to sexual abuse of women. This thought is based on the belief that prostitution is not public but private immorality due to which it cannot be considered a concern of criminal law enforcement agencies. Criminal law should only be concerned with the sources of public immorality like pornography which is a far cry from prostitution. This approach stresses that opponents should realize the staggering difference between prostitution which is harmless and pornography which can be harmful and not attempt to mingle them. Willingly or consciously selling sexual services is not the kind of activity which infringes on public order and decency, so there should be no penalties for people who are involved in this practice on any level (Jaggar, 1980, pp. 349-50). The Marxist approach is not as simplistic as the liberal approach and has more depth to it. This approach draws conclusions about prostitution after analyzing myriad effects produced by it on the society as the social context of any activity is considered critically important here. Marxists agree that p rostitution translates into selling sexual services, but they also argue that this activity resembles marriage a lot in which a woman exchanges same services which are exchange in prostitution in return for financial support ensured by her husband. In the marriage, a man is willing to provide for the woman on the condition that she acknowledges and fulfills his sexual needs. Same is the case in prostitution in which a woman consents to offer sexual services in exchange for money from the men she attends. However, the difference is that a marriage is a legalized relationship approved by the social norms, while prostitution is not legalized and the women who are a part of this are called many derogatory names by the society. It is claimed by