Currency Risk and Country Risk in International Banking
分析银行向外国企业和政府发放美元贷款时面临的货币风险和国家风险，指出货币风险取决于国内外通胀率及购买力平价偏离，国家风险由贸易条件波动和政府调整意愿决定。
This paper focuses on the conditions under which banks are subject to currency and country risks on their dollar-denominated loans to foreign firms and governments. We conclude that currency risk is a function of the rates of domestic and foreign inflation, deviations from purchasing power parity, and the effect of these deviations on the firm's and the nation's dollar-equivalent cash flows. Country risk is largely determined by the variability of the nation's terms of trade and the government's willingness to allow the national economy to adjust rapidly to changing economic fortunes.