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inostrani kapital kao faktor razvoja zemalja - Ekonomski fakultet u ...

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9. Gaba, V., Pan Y., Ungson, G.R. (2002) Timing of Entry in International Market:<br />

An Empirical Study of U.S. Fortune 500 Firms in China, Journal of International<br />

Buisiness Studies 33(1), pp.39-55.<br />

10. Lensink, R., Bo, H., Sterken, E. (1999), Does Uncertainty Affect Economic<br />

Growth? An Empirical Analysis, Weltwirtschaftliches Archiv 135(3), pp.379-396.<br />

11. Longueville G. (1997) Les nouvelles dimensions du risk-pays, Banque N o 585.<br />

12. Serven, L., Solimano, A. (1993), Debt Crisis, Adjustment Policies and Capital<br />

Formation in Developing Countries: Where do we stand?, World Development 21,<br />

pp. 127-140.<br />

13. Van Horne, J.C. (1993) Finansijsko upravljanje i politika, Mate, Zagreb.<br />

DODATAK<br />

Tabela 1. Default spread u baznim poenima prema Moody's rejtingu<br />

Rejting<br />

Default spread u<br />

baznim poenima<br />

Rejting<br />

Default spread u<br />

baznim poenima<br />

Aaa 0 Ba1 200<br />

Aa1 35 Ba2 250<br />

Aa2 50 Ba3 300<br />

Aa3 60 B1 350<br />

A1 70 B2 400<br />

A2 80 B3 450<br />

A3 85 Caa1 600<br />

Baa1 100 Caa2 675<br />

Baa2 115 Caa3 750<br />

Baa3 135<br />

Izvor: http://pages.stern.nyu.edu/~adamodar/<br />

Tabela 2. Premija rizika nekih <strong>zemalja</strong> prema Moody's rejtingu (14.mart 2008).<br />

Zemlja Rejting<br />

Prilagođeni<br />

Default<br />

Spread<br />

Ukupna<br />

premija<br />

rizika<br />

Premija<br />

rizika<br />

zemlje<br />

Australija, Evrozona, Finska,<br />

Francuska, Nemačka,<br />

Španija, Švedska, Švajcarska,<br />

V.Britanija, SAD, Japan<br />

Aaa 0 4.91% 0.00%<br />

Italija, Slovenija Aa2 50 5.66% 0.75%<br />

Češka, Estonija,Grčka,<br />

Slovačka, Kina<br />

A1 70 5.96% 1.05%<br />

Mađarska, Latvija, Litvanija,<br />

Poljska<br />

A2 80 6.11% 1.20%<br />

Rusija, Kazahstan Baa1 100 6.41% 1.50%<br />

Bugarska, Rumunija, Hrvatska Baa3 135 6.94% 2.03%<br />

Crna Gora Ba1 200 7.91% 3.00%<br />

Srbija, Ukrajina, Turska Ba3 300 9.41% 4.50%<br />

Bosna i Hercegovina B2 400 10.91% 6.00%<br />

221

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