In this paper we assess a country’s investment risk by studying its vulnerability to shocks in macroeconomic variables including GDP growth, infl ation, and unemployment. Based on the criteria of quick stabilization in the impulse responses of the macro variables after a one standard deviation...

On the basis of civil-liberty index and trade openness ratio ([export + import]/GDP), this empirical study makes use of time series data (1972-2001) to analyze the relationship between trade liberalization and civil liberty in Turkey. With the help of cointegration analysis, the study comes to...