Country Risk in exports is derived from the capacity of payment and the losses that insolvency can cause to the creditors. Instead, the country risk in foreign direct investment is related to breach of contract, deprivation of property rights, damage to assets or cessation of activities. The operations of foreign direct investment (FDI) are different in nature to exports. Therefore, regarding country risks some questions arise: is country risk different also?, which are the common risks and

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... h are specific risks to exports and FDI? Both share five types of country risk: the transfer risk, the impossibility of converting currencies, the exchange rate risk, the risk of war or political violence and sovereign risk. The risk of expropriation is specific to foreign direct investment and does not affect trade. This paper makes a comparative analysis of the risks in exports and foreign direct investment. The aim is to find out to what extent they differ. The conclusions are valid for multinational firms and developing countries with a growth strategy based on FDI ., ICSID had 158 States had signed the Convention and 147 Contracting States that had ratified it. The primary purpose of ICSID is to provide facilities for conciliation and arbitration which might be submitted to the international investment disputes. Arbitration and conciliation under the Convention are entirely voluntary and for their use of the investor and the consent of the State concerned are required. Once given, such consent can not be withdrawn unilaterally and becomes a binding commitment. vi ICSID is a record of disputes between investors and host countries, not CEN events themselves. Registered in ICSID disputes may lead or not to CEN events and on the other hand, not all events are recorded in the ICSID. vii In english, the meaning of insurrection and rebellion are the contrary to the meaning of insurrection and rebellion in spanish. In spanish, rebelión is an incipient insurrección. viii Note that we refer to political terrorism, not terrorists acts of common violence.