Tiago Duarte-Silva of Charles River Associates will be discussing the types of country risk encountered in international arbitration. Country risk is almost by definition central to damages in international arbitration. However, it encompasses different risks, not all of which should necessarily affect damages. This session will cover how country risk can be disaggregated into its main components and then review quantitative and qualitative methods to measure them, with a focus on expropriation and political risks. Related to their relevance to damages calculations, evidence on how and whether those risks are important to investors in their investment decisions will also be covered.