This book brings together academics in the fields of economics, political
science, and law, with business practitioners in the fields of risk assessment
and portfolio management. Their contributions are sequenced to tell a story.
Africa is perceived as being a highly risky continent. As a result, investment is
discouraged. These risks are partly exaggerated. However, to the extent that
they reflect genuine problems they are capable of being mitigated by
insurance and reduced by political restraints such as central banks, investment
charters, and international agreements.
The contributors were brought together for a conference at the Harvard
Institute for International Development which discussed drafts of the papers
in this volume. Comments and criticisms were provided by a group of
discussants, some of which are included in this volume.
We acknowledge the major financial support of the Social Science
Research Council, and the hospitality of the Harvard Institute for
International Development. The project was organised by the Centre for
the Study of African Economies, Oxford University, at which both the editors
were based.