Table 7: Panel C: Political Risk, Economic Risk and Financial Risk

Persistence of Risk Measures

First Order Autocorrelations

		All Countries		Developed	Emerging
Risk Measure	Average	Minimum	Maximum	Average	Average
Institutional Investor CCR	0.24	-0.31	0.77	0.20	0.26
ICRG Composite	0.04	-0.92	0.93	-0.01	0.07
ICRG Political	-0.01	-0.84	0.51	0.03	-0.04
ICRG Financial	0.10	-0.60	0.75	0.08	0.11
ICRG Economic	-0.18	-0.72	0.67	-0.17	-0.19

Last Update: 5/28/96

Name: Campbell R. Harvey