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Cracking the Emerging Markets Enigma$
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G. Andrew Karolyi

Print publication date: 2015

Print ISBN-13: 9780199336623

Published to Oxford Scholarship Online: June 2015

DOI: 10.1093/acprof:oso/9780199336623.001.0001

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Accepting the Challenge

Accepting the Challenge

(p.3) 1 Accepting the Challenge
Cracking the Emerging Markets Enigma

G. Andrew Karolyi

Oxford University Press

This chapter outlines the goals and philosophy of the book and describes its main findings. The goal of this book is to develop a rigorous, comprehensive, and practical framework in which to understand these very risks associated with investing in emerging markets. It is rigorous in that it is built on a foundation of sound academic research by a large number of scholars over the past two decades, and it is comprehensive in that it incorporates in an empirically coherent framework multiple dimensions of the potential risks that a prospective corporation or investor faces. These dimensions of risk reflect the uneven quality of the various institutions designed to assure integrity in the functioning of the country’s capital markets. The framework is practical, as it distills these various dimensions of risk into an internally consistent scoring system that ranks emerging markets by each dimension of risk and overall across all dimensions.

Keywords:   emerging markets, risks, investing, new framework

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