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Cracking the emerging markets enigma / G. Andrew Karolyi.

by Karolyi, G. Andrew.

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Oxford ; New York : Oxford University Press, c2015.

Investments, Foreign -- Developing countries.

Investments -- Developing countries.

9780199336623 (alk. paper) :

0199336628 (alk. paper) :

Financial Management Association survey and synthesis series.

xii, 295 pages ; illustration : 25 cm.

Understanding the risks in emerging markets. Accepting the challenge ; The emerging market landscape ; A primer on empirical methodology -- Building the emerging markets risk indicators. Market capacity constraints ; Operational inefficiencies ; Foreign accessibility restrictions ; Corporate opacity ; Limits on legal protections ; Political instability -- Validating the risk indicators. Do the emerging market risk indicators work? ; Making sense of the emerging market swoon of 2013 -- The emerging markets enigma cracked? Final remarks and a few cautions.

Forward-thinking investors are constantly looking for the next BRIC-what foreign market is on the brink of expansive growth? Will these investments payoff, or are the potential risks too great? Investing in these emerging markets requires a careful analysis of potential risks and benefits which vary greatly from country to country and even from day to day. In Cracking the Emerging Markets Enigma, emerging markets expert Andrew Karolyi outlines a practical strategy for evaluating the opportunities and-more importantly-the risks of investing in emerging markets. Karolyi's proposed system evaluates multiple dimensions of the potential risks faced by prospective investors. These categories of risk reflect the uneven quality or fragility of the various institutions designed to assure integrity in capital markets-political stability, corporate opacity, limits placed on foreign investors, and more. By distilling these analyses into a numerical scoring system, Karolyi has devised a way to assess with ease emerging markets by different dimensions of risk and across all dimensions together. This novel assessment framework already has been tested in the market to great success. Researchers, students, firms, and both seasoned and novice investors are poised to gain a clear understanding of how to evaluate potential investments in emerging markets to maximize profits.

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