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Cracking the Emerging Markets Enigma
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Cracking the Emerging Markets Enigma

G. Andrew Karolyi

Abstract

This book develops a new practical framework to delineate and measure the fundamental risks of investing in emerging markets. In so doing, it defines clearly what an emerging market represents: namely, an undercapitalized and thus not-fully realized growth opportunity with complexities. These complexities are what inhibit global investors from helping to remedy the undercapitalization problem and they reflect institutional fragility that stems from market capacity constraints, operational inefficiencies, foreign investibility restrictions, corporate opacity, limits to legal protections, and po ... More

Keywords: emerging markets, operational inefficiencies, governance, legal protections, investability restrictions, political instability

Bibliographic Information

Print publication date: 2015 Print ISBN-13: 9780199336623
Published to Oxford Scholarship Online: June 2015 DOI:10.1093/acprof:oso/9780199336623.001.0001

Authors

Affiliations are at time of print publication.

G. Andrew Karolyi, author
Alumni Professor of Asset Management, Professor of Finance, Co-Director of the Emerging Markets Institute, Johnson Graduate School of Management, Cornell University