Conclusion

Indeed, it is not safe to assume that what is true of one country is equally true of other countries, nor it is possible to capture the different reflections of businesses in emerging markets from a single reality perspective. Thus, the chapters in this book have different conclusion for different studies in different emerging markets. The study in Kenya indicates the extent to which political interest groups have shaped government policy through their incredible influence. And that explains why Kenyan government actions relating to the economy have not been consistent with the theory of economics. In fact, economic policies have been influenced by the initial policies and have been modified to suit the existing political situation. Initially, the colonial government created an economy that was based on the political system. Following independence from the United Kingdom, the independent Kenyan government continued the policies of the past to benefit powerful political interest groups such as politicians, bureaucrats, and large-scale African farmers. Thus, politics became an important element in the creation of institutions, and a convenient channel for attaining power using political positions. Creation of institutions in the economy and state appointments to positions of influence had been used to secure benefits from the various exchanges in the markets.