This chapter works through the relationship between financial markets and financial risk. The argument takes issue with the standard way of viewing and calculating financial risk which merely stacks up different quantitatively determined market uncertainties - credit risk, liquidity risk, interest rate risk, currency risk, repayment risk, etc. Moreover, it contests the common image offered in the critical scholarship which sees investors as speculative, irrational, and insensitive to risk and volatility. Against these perspectives, the chapter argues that international debt markets operate through abstract conceptions of risk tied to imperial power.
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