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Failed States Seminar - May 2024

SKEMA BUSINESS SCHOOL, Country risk: Looking for the Canary in the Coal Mine In search of early warning indicators

CIFE Global Risk and Governance Seminar 2023-24

Noches blancas en Valdelago

Conference MScFMI SKEMA December 1, 2022: “The Canari in the Coal Mine”: Looking for early warning signals of country risk!

CIFE Global Governance & Risk Management seminars 2022-23 MH Bouchet

CIFExpress | An Outlook on the Upcoming Debt Crises | Michel-Henry Bouchet

The IMF is calling for urgent debt reduction for developing nations. Governance welcome!

The IMF’s untimely call for urgent debt cancellation

Nice May 2022 - Governance & Failed States Seminar

CIFE Country risk & Governance: May 2022 Nice Seminars

Country risk and Governance seminar: Berlin session April 2022

What are the key consequences of Russia’s war in Ukraine on Africa?


Why the pandemic crisis creates a risk of state collapse in EU’ development aid recipients

Interview with MHB for the GEGPA/EUDIPLO blog (Dec 2021) “Michel-Henry Bouchet in a nutshell”

Country Risk and Governance seminar CIFE Spring 2021

Protracted Pandemic Crisis = Risk of Great Collapse for weak states? An opportunity for reassessing EU’s development aid to promote good governance

CIFE-Country Risk & Governance Seminar 2020-21

14 quizzes on Country risk and global governance

CIFE-Joint Master in Global Economic Governance& Public Affairs-Roma-Berlin-Nice 2021-2022

Pandémie, surendettement, et gouvernance: Comment éliminer l'aléa moral des annulations de dette des pays en développement ?

Quid Periculum? Measuring & Managing Political Risk in the age of Uncertainity


Financial institutions and developing countries’ debt cancellations: How to get rid of moral hazard?

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Opinion piece: Financial institutions and developing countries’ debt cancellations: How to get rid of moral hazard?

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Country risk: Looking for the Canary in the Coal Mine? In search of early warning indicators

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The LUMIA seminar

The LUMIA seminar will tackle the pitfalls of deregulated and globalized HyperFinance and the conditions for the emergence of AlterFinance, focused on economic growth and inclusive development- Le séminaire de LUMIA traite de l’HyperFinance dérégulée et spéculative et des conditions d’émergence d’une AlterFinance propice à la croissance soutenable et au développement socio-économique equitable.

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Pandemic Crisis: Just a Bump on the Road or Threat of Great Collapse

CIFE: Master in Global Governance May 2020

Conférence ESC Sfax Février 2020

Finance Internationale et Gestion des Risques-ECS Sfax 2020

Skema’s South Africa Campus Cape Town Stellenbosch

La Chine peut-elle maintenir son dynamisme économique ou bien son modèle de croissance est-il menacé?

Introduction to South Africa from an Economic and Geopolitical Perspective


L’Education contre le Risque d’Effondrements Convergents ?

June 2019

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Financial Curricula and the Hidden Causes of Financial Crises: Revamping the Teaching of Market Finance in the Academic World

May 2019


Managing Country Risk in Age of Globalization

This book provides an up-to-date guide to managing Country Risk. It tackles its various and interlinked dimensions including sovereign risk, socio-political risk, and macroeconomic risk for foreign investors, creditors, and domestic residents. It shows how they are accentuated in the global economy together with new risks such as terrorism, systemic risk, environmental risk, and the rising trend of global volatility and contagion. The book also assesses the limited usefulness of traditional yardsticks of Country Risk, such as ratings and rankings, which at best reflect the market consensus without predictive value and at worst amplify risk aversion and generate crisis contamination. This book goes further than comparing a wide range of risk management methods in that it provides operational and forward-looking warning signs of Country Risk. The combination of the authors’ academic and marketbased backgrounds makes the book a useful tool for scholars, analysts, and practitioners.

Michel Henry Bouchet is currently Distinguished Finance Professor at SKEMA Business School as well as strategy adviser. He has held senior positions at BNP, the World Bank, and the Institute of International Finance. He also served as CEO of Owen Stanley Financial SA and as senior adviser for ING Barings. Bouchet graduated in Economics from the University of Paris X and from the Paris Institut d’Etudes Politiques. He also holds a Master and Ph.D. in International Relations from University of South Carolina. He received his HDR from University Paris-Dauphine.

Charles A. Fishkin has held senior positions across the spectrum of financial services, spanning a career of 30 plus years. He led the first agency wide risk management program at the United States Securities and Exchange Commission, serving as the Director of the Office of Risk Assessment. He is the author of The Shape or Risk: A New Look at Risk Management (Palgrave 2006). He is an adjunct faculty in the Masters Program in Financial Engineering at Bernard M. Baruch College of The City University of New York. He has a BA in Economics, with General Honors, from The University of Chicago.

Amaury Goguel is the scientific Director for the MSc Financial Management and Investment (FMI) program at SKEMA Business School in Paris. He was previously head of SKEMA’s MSc in Corporate Financial Management (CFM). Goguel holds a Ph.D. in Economics from Lille University. He also holds master’s degrees from the College of Europe (Bruges), Paris 1 Sorbonne, and Complutense University of Madrid. He served as a consultant on global finance, European affairs, and political parties.

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Dr. Michel Henry Bouchet

Dr. Bouchet is currently Distinguished Finance Professor at SKEMA Business School. Between 1998 and 2009 he has been Scientific Director of the Master of Science in International Finance (MScIF-ranked n°9 by the FT Global finance programs in 2011), as well as Coordinator of Global Finance Center. Michel Henry Bouchet was the Director of SKEMA’s new campus in the technology park of Suzhou (China) in 2009. He specializes in country risk assessment, emerging markets, and global financial issues. Until end-2015, he was Chief Strategist of North Sea-Global Equity Management Fund.

M.H. Bouchet started his career with the Secrétariat Général de la Défense Nationale. He has then held high-level positions in international banking, including at BNP (Country risk management deputy manager), the World Bank (Senior Economist) and the Institute of International Finance (Senior international economist) in Washington, D.C. In 1990, he moved on to form Owen Stanley Financial SA which he served as its CEO. The company, a specialized advisory firm dealing with debt restructuring strategy in emerging markets, became a subsidiary of ING Barings. Until end-2001, he was Principal Advisor of ING Barings.

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