Firm Centred Perspectives
Edited by Mehmet Demirbag and Geoffrey Wood
Chapter 4: Political risk, political instability and the transitional periphery in the age of global uncertainty
This chapter aims to analyse the concept of political risk from a multidisciplinary perspective, focusing in particular on the Central Asian countries as transitional peripheral states. The chapter discusses, first, the fuzzy concept of political risk in the literature of international business, and then argues that a more integrated method needs to understand the notion better, borrowing mainly from the literature of political science and international politics. The interconnection between the dynamics of political stability/instability and political risk necessitates more integrated and comprehensive approach, in particular within the increasingly uncertain global political landscape. The chapter reviews the basic methods to define, understand and predict political stability, associated with political risk, and then focuses on the Central Asian states from the transitional periphery.
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