Two years into the deepest global financial crisis in the post-war era, the world economy is still experiencing uneven economic recovery and financial weakness. Financial market conditions are signaling improved investor confidence and more appetite for cross-border investments. As part of its mandate to encourage investment to developing countries, the Multilateral Investment Guarantee Agency (MIGA) seeks to foster more understanding of the role of political risk, and instruments to mitigate it. The objective for this report is to examine (i) overall investment trends and perceptions of political risk especially for what regards foreign direct investment (FDI) to emerging markets; (ii) investments and risks specifically in Conflict-Affected and Fragile States (iii) the role political risk insurance (PRI) is playing today and its likely role in the future.
Two years into the deepest global financial crisis in the post-war era, the world economy is still experiencing uneven economic recovery and financial weakness. Financial market conditions are signaling improved investor confidence and more appetite for cross-border investments. As part of its mandate to encourage investment to developing countries, the Multilateral Investment Guarantee Agency (MIGA) seeks to foster more understanding of the role of political risk, and instruments to mitigate it. The objective for this report is to examine (i) overall investment trends and perceptions of political risk especially for what regards foreign direct investment (FDI) to emerging markets; (ii) investments and risks specifically in Conflict-Affected and Fragile States (iii) the role political risk insurance (PRI) is playing today and its likely role in the future.
In The Captive Sea, Daniel Hershenzon explores the entangled histories of Muslim and Christian captives—and, by extension, of the Spanish Empire, Ottoman Algiers, and Morocco—in the seventeenth century to argue that piracy, captivity, and redemption helped shape the Mediterranean as an integrated region at the social, political, and economic levels. Despite their confessional differences, the lives of captives and captors alike were connected in a political economy of ransom and communication networks shaped by Spanish, Ottoman, and Moroccan rulers; ecclesiastic institutions; Jewish, Muslim, and Christian intermediaries; and the captives themselves, as well as their kin. Hershenzon offers both a comprehensive analysis of competing projects for maritime dominance and a granular investigation of how individual lives were tragically upended by these agendas. He takes a close look at the tightly connected and ultimately failed attempts to ransom an Algerian Muslim girl sold into slavery in Livorno in 1608; the son of a Spanish marquis enslaved by pirates in Algiers and brought to Istanbul, where he converted to Islam; three Spanish Trinitarian friars detained in Algiers on the brink of their departure for Spain in the company of Christians they had redeemed; and a high-ranking Ottoman official from Alexandria, captured in 1613 by the Sicilian squadron of Spain. Examining the circulation of bodies, currency, and information in the contested Mediterranean, Hershenzon concludes that the practice of ransoming captives, a procedure meant to separate Christians from Muslims, had the unintended consequence of tightly binding Iberia to the Maghrib.
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