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Forecasting Political Risk

Author

Listed:
  • D. W. Bunn

    (Oxford University)

  • M. M. Mustafaoglu

    (Getty Oil Company, Los Angeles)

Abstract

An applied procedure is preserved in this paper which has been used to forecast some of the political risks ars oil company faces from investment in an overseas developing country, e.g., expropriation, taxation, price and production controls. The procedure makes use of a panel of experts, but requires, their estimates to be formulated in a way that takes explicit account of the precursive conditions for each of the adverse actions that the host country could take. A Bayesian method is used to derive the composite probabilities, for the political risk events under consideration and a Cross-Impact Analysis then provides s means of overall scenario generation.

Suggested Citation

  • D. W. Bunn & M. M. Mustafaoglu, 1978. "Forecasting Political Risk," Management Science, INFORMS, vol. 24(15), pages 1557-1567, November.
    • Handle: RePEc:inm:ormnsc:v:24:y:1978:i:15:p:1557-1567
    DOI: 10.1287/mnsc.24.15.1557
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    Cited by:

    1. Gala, Vito D. & Pagliardi, Giovanni & Zenios, Stavros A., 2023. "Global political risk and international stock returns," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 78-102.
    2. Abada, Ibrahim & Massol, Olivier, 2011. "Security of supply and retail competition in the European gas market.: Some model-based insights," Energy Policy, Elsevier, vol. 39(7), pages 4077-4088, July.
    3. Constant Fouopi djiogap, 2013. "Foreign Direct Investment and Macro Economic Performances in the Central African Economic and Monetary Community (CEMAC)," Economics Bulletin, AccessEcon, vol. 33(4), pages 2563-2574.
    4. Bellakhal, Rihab & Ben Kheder, Sonia & Haffoudhi, Houda, 2019. "Governance and renewable energy investment in MENA countries:How does trade matter?," Energy Economics, Elsevier, vol. 84(C).

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