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Emerging Markets: Preferences, R isks, Performance..

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  • Željko Šević

Abstract

The paper surveys the most important literature on emerging markets and their performance. Emerging market countries are defined here as the countries with low intuitional capacity in general, rather than the countries with particular economic characteristics and per capita income; although the latter is the predominant view in the current literature. The paper places particular importance on the legal system and legal order (compliance) in the transitional economies, stressing the importance of adequate regulation where even more advanced regulatory models, like market regulation, should not be totally excluded. Despite many common characteristics, emerging markets differ significantly one from another and it is very difficult, if really not impossible, to create one ‘general theory of emerging markets’ and its financial behaviour. Finally, the practice in the last decade or so, has proven that emerging markets are somewhat unpredictable and difficult to model. Copyright Springer 2005

Suggested Citation

  • Željko Šević, 2005. "Emerging Markets: Preferences, R isks, Performance..," Economic Change and Restructuring, Springer, vol. 38(1), pages 1-10, March.
    • Handle: RePEc:kap:ecopln:v:38:y:2005:i:1:p:1-10
    DOI: 10.1007/s10644-005-4520-8
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    References listed on IDEAS

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    1. Graciela Kaminsky & Saul Lizondo & Carmen M. Reinhart, 1998. "Leading Indicators of Currency Crises," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 1-48, March.
    2. Graciela Laura Kaminsky, 1997. "Leading Indicators of Currency Crises," IMF Working Papers 1997/079, International Monetary Fund.
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    More about this item

    Keywords

    emerging markets; Financial Reform; Market Performance; Transition Social Transition; P5; P2; G1; G2; G3;
    All these keywords.

    JEL classification:

    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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