Data

The radar diagrams below by country indicate their respective fundamental risk indicator scores in 2012. The scores are obtained using principal component analysis (PCA) using procedures explained in Chapters 4 to 9 in Karolyi (2015, Oxford University Press). The scores are standardized on a Normal scale for all 57 emerging (shown below) and developed countries; scores that are negative indicate greater fundamental risks and those that are positive, less fundamental risks. See the book for additional details on construction.

E1 Argentina
E2 Brazil
E3 Chile
E4 China
E5 Columbia
E6 CzechRepublic
E7 Egypt
E8 Hungary
E9 India
E10 Indonesia
E11 Israel
E12 Jordan
E13 SouthKorea
E14 Malaysia
E15 Mexico
E16 Morocco
E17 Nigeria
E18 Pakistan
E19 Peru
E20 Philippines
E21 Poland
E22 Russia
E23 SaudiArabia
E24 Slovakia
E25 Slovenia
E26 SouthAfrica
E27 SriLanka
E28 Taiwan
E29 Thailand
E30 Turkey
E31 Venezuela
E32 Vietnam

E33 UAE

The risk indicator scores for what are traditionally considered developed market countries are also available and are prominently featured in Chapters 4 to 9 of the book. [Note that the scale for each indicator is maintained as for the traditionally defined emerging market countries; some scores for select countries run off the scale.]
D1 Australia
D2 Austria
D3 Belgium
D4 Canada
D5 Denmark
D6 Finland
D7 France
D8 Germany
D9 Greece
D10 Hong Kong
D11 Ireland
D12 Italy
D13 Japan
D14 Luxembourg
D15 Netherlands
D16 New Zealand
D17 Norway
D18 Portugal
D19 Singapore
D20 Spain
D21 Sweden
D22 Switzerland
D23 UK
D24 US
Errata

A number of typos or other errors have been identified by many readers, research assistants, graduate students, for which I am very grateful. Getting the data and facts correct is very important to me, so please continue to send any that you uncover by email (gak56@cornell.edu):

Page 98, paragraph 3, sentence 1: Should read “Many of my measures of financial openness to now…”

Page 176, paragraph 1, last sentence: “…then an investor’s expected lifetime depends on where he or she is located” should read “…expected lifetime consumption…”

Page 199, paragraph 2, last sentence: Should read “On a percentage basis, equity outflows were largest for Argentina (-$924 million) and Venezuela (-$474 million).” Table 11.1 has errors in last column in calculations of net foreign equity flows as a percentage of 2012 foreign equity holdings. Corrected table is available here. The overall regression results in Table 11.2 are correct and unaffected by this typo.

Page 94, Table 6.1. The rows associated with countries below Slovakia through to Vietnam shifted up one row in copy-editing. Corrected table is available here. The overall PCA scores are correct and unaffected by this typo.

Page 99, Table 6.2. The rows associated with countries below Slovakia through to Vietnam shifted up one row in copy-editing.  Corrected table is available here. The overall PCA scores are correct and unaffected by this typo.

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