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Hello,
I hope everyone reading this is doing well during these tough times.
I am doing my masters in business management and considering dissertation topics.
I'm interested in taking an international approach relating to globalisation of businesses/sustainability/emerging markets/business culture etc
Perhaps with the impact of COVID-19 pandemic.
Coming up with a creative and interesting topic idea is proving to be challenging so any ideas would be greatly welcomed!
Thanks! Rabia
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Managing the process of financial, organizational and technological restructuring in an enterprise operating in an industry in an economic crisis caused by the SARS-CoV-2 (Covid-19) pandemic.
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Dear colleagues,
As work development and skill (re) training is considered a key condition for adequate economic development in emerging economies, can we associate the "Appropriate Technology" concepts (as contextualizing technological, structural, and local behavioral aspects as general factors, and concrete, specific factors that included meeting local needs, utilizing local resources, accounting for cultural conditions, and knowledge transfer mechanisms, among many others. in order to satisfy said technology end users' needs and expectations") to the particular technology used in "serious games" (applied as training systems for organizations deployed for the workforce, in order to enhance knowledge and skill sets) ?
I am trying to create a logical link between the two concepts and argue that Serious Games, as training mediated by technology, can in fact be classified as "Appropriate Technology" when it need to be adapted to emerging market conditions (as mentioned above), pertains to important quality-of-life concerns (employment and market economic sustainability - http://www3.weforum.org/docs/WEF_2019_Strategies_for_the_New_Economy_Skills.pdf) and it s adoption is ultimately dependent (or impacted) on the end user adoption (considering existing frameworks, suchg as TAM or UTAUT).
Do you agree?
If so, can you help me find references where similar arguments could be used in a paper I am writing?
Thanks in advance!
Mathias
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I agree
“Seriousness” is an adjective for reference and its main purpose is training and investigation, and since training is a process of acquiring and transferring knowledge, skills as well as capabilities, this requires:
Determine the cognitive bases of the concept.
Defining "serious games" skills with training
Design a model to integrate "serious games" with training
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Hi everyone,
For a research I'm currently doing I need monthly country specific Fama-French 3 factors for emerging economies (especially for Turkey). Do you know any sources publishing the factors?
Note:
  • Kenneth French serves a consolidated dataset for the factors for the emerging markets.
  • Dr. Spyros Skouras shares country specific factors, but currently his data last by the end of 2015.
Any suggestions will be appreciated. Thanks in advance!
Onur
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Thank you for your response. I will check it at the earliest time possible!
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What kind of information in the field of financial market psychology is in your opinion the most important, which should be taken into account when conducting technical analyzes of the valuation of securities listed on the stock exchange in order to achieve the best results from investing activities?
Please reply
Best wishes
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The impact of what is known as the psychology of the financial markets was seen during the initial phase 1 of the pandemic. When in March 2020 the World Health Organization announced the state of a global epidemic, i.e. the state of the SARS-CoV-2 (Covid-19) coronavirus pandemic, then there was a strong sell-off of stocks and commodities on commodity exchanges. The stock market crash resulted from the predominance of investors' fear and uncertainty about the situation in the markets and the economy. The aforementioned crash was characterized by a large amplitude of decline in stock exchange indices, but it was relatively short-lived. The declines in indices were halted as central banks cut interest rates. At that time, the situation in the markets calmed down and the trends were reversed from downward to upward.
Regards,
Dariusz Prokopowicz
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I am writing a paper about downside risk measures in the context of emerging markets, testing the standard deviation against the downside deviation for instance. In the analysis however, all risk variables estimated, including the conventional SD and beta are negatively correlated with the returns. How can I make sense of this?
Thank you very much in advance!
Dominik
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The empirical test of the relationship between risk and return as suggested by the CAPM is usually anticipated to fail, or at least to change over time. See, for example, the empirical work of Eugene Fama and Kenneth French:
as well as the empirical work of Michael Jensen, Fischer Black and Myron Scholes:
Nonetheless, it is one of the most important entry models taught in lectures.
Your findings will most likely occur because of the chosen observation period or data series.
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I want to name of three emerging markets in Nigetia
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Is there any study or research differentiating the consumer behaviour of low-income customers and middle-income customers, especially in the emerging markets?
It will be great if I get some industry insights (case study or examples) on the learnings, challenges or past failures of a retailer's strategy due to such a misinterpretation of treating low-income customers same as mid-income customers?
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When i googled, I found a plethora of research discussing the consumer behaviour of low-income consumers .. But may be sparse studies are done regarding the middle-income consumers .. Other studies examined the relation income, social class, and consumer behaviour.. Here is the link for one research:
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How do you assess the processes of globalization of financial and banking systems in the context of the analysis of the sources of the global financial crisis of 2008?
Please reply
Best wishes
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Magnitude of international investors, and FDI
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Do the significant revaluation of stock quotes on stock exchanges occurring every few or a dozen years is an objective specific feature of this type of financial market or rather it is imperfection of these markets resulting from too high a level of liberalization and deregulation of the mechanisms of these markets, including the reduction control functions of financial supervision institutions?
Since the 1970s, the functioning of individual segments of financial markets has been successively liberalized and deregulated, including primarily the issue of investment banking, international markets and exchange rate systems, rating agencies, financial adversity institutions and financial entities and instruments operating on the securities market. During this time, the scale of the re-valuation of valuations of securities, derivatives, commodities and other assets on the capital markets reached ever higher levels, then spectacularly transformed into a strong decline in these valuations leading to a financial and economic crisis. The last financial crisis in 2008 in many respects, including numerous negative aspects, generated the unruly records characterizing the highest level of investment risk and the scale of financial losses generated by many commercial financial institutions and industrial corporations, which then under the active, interventionist, anti-crisis monetary policy of banking were financed indirectly by public finance funds. Due to this cyclical nature of capital markets, characterized by the growing amplitude of economic fluctuations during periods of bull market and bear market at high levels of overvaluation and investment risk levels and deeper global financial and economic crises, large financial institutions, including investment banks, are becoming larger entities and costs neutralizing the negative aspects of crises is paid off by the whole society, especially by the relatively less-earning middle class.
In the light of the above, encouraging discussion, I turn to you with the following question: Has the time finally come to reform the functioning process and the system of financial markets by restoring former control functions of financial supervision institutions that have been abolished, reduced since the 1970s?
Are increasingly deep financial crises derived from the liberalization and deregulation of financial markets?
Please, answer, comments. I invite you to the discussion.
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Surely we cannot blame everthing on liberalization and deregulation. We cannot have the cake and eat it as well. Libralization and deregulation comes with strengths and weaknesses that we are well aware of. We have enjoyed the positives and the negatives is the outcome of what we went through. A volatile market is better than a flat market. Risk management is key to long-term survival and sustainability of any institution.
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How behavioral economics can be used to study investor behavior in capital markets, including securities markets?
How is it that in these markets every several or a dozen or so years, there is a high re-evaluation of the valuation of financial instruments, assets, including company shares? What is the issue of the effect of the sheep's rush, which to some extent is often inspired by the appropriately constructed, liberalized offer of products and services of financial institutions?
Besides, how does it fit into the issue of the cyclical nature of economic processes, ie the volatility of economic growth of entire national economies in the long-term perspective? In addition, the issue of the various state intervention instruments applied by national governments is also important, some of which also act on consumer behavior of small investors and shareholders.
Considering anti-crisis, counter-cyclical, interventionist monetary policies based on low interest rates and central banks buying programs for assets lost from commercial banks, it is reasonable to study the potentially high level of state intervention in the financial markets. In connection with the liberalization of the functioning of capital markets and increasingly emerging financial crises since the 1970s, the scale of active interventionist monetary policy of central banking is growing, but also in relation to capital markets, including securities markets. Therefore, deregulated and indirectly subjected to potential anticyclical state intervention, capital markets, including securities markets, are increasingly losing balance, falling into extreme market re-evaluation and undervaluation of valuations of securities, and consequently growing systemic investment, credit, etc. risks and increasingly emerging financial crises.
In view of the above, I would like to ask you: Behavioral economics and interventionist monetary policy and the cyclically changing situation in the securities markets?
Please, answer, comments. I invite you to the discussion
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Dariusz Prokopowicz initially, the new financial theory suggested that investors psychology have the great impact on securities prices. Investors biases and behavioral pricing models focus on how to deal with such matters in real world. Therefore, we can be conclude that future works could be take in consideration the role of behavioral economics.
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I intend to research on this topic as I have a keen interest in internationalization and entry mode. However, most researches are done on developed countries making it saturated even the emerging markets researched are the (BRIC) leaving out Africa as a continent and this is a research gap to me because few works have been done on Africa especially the challenges. In the course of trying to formulate the research problem, I could not find sufficient articles to formulate the research problem. I would like to know if this is a good topic to work on and also get suggestions on research topics concerning my interest.
Thank you.
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you can add on those, political instability, security problems,low purchase power ,etc
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Please guess the nature and dimension of sustainable manufacturing revolution in emerging markets.
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Emerging markets will definitely play a future role in exponential manufacturing; this is, however, a matter of entrepreneurial firms and economic freedom.
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Hi all,
I am looking for ideas to work on for the research proposal for my PhD application. I am interested in conflicts, migration, poverty and fiscal policies in emerging markets. However, I am open to any and all topics that might interest me.
Thank you.
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Mr Gupta. I think, as far as development economics is concerned, there are research gaps everywhere. The areas you have mentioned are among the most popular, and may be one would add to them unemployment income distribution and governance, and there are interesting research gaps in each of them. How about topics related to youth unemployment in southeast Asia, or income distribution and economic growth in Africa. Best of luck.
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REITs in emerging markets have been static over long periods, why is it so?
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In addition to Prof Abel Olaleye's comment on cultural belief, I also think the ambiguities/inadequacies involved in the structure of REITs in Nigeria also affect its acceptability and patronage by investors.
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Historically, multilateral agencies/institutions segmented global markets into either developed or emerging markets. Recently, a distinction has been made between emerging and frontier markets.
In your opinion, which markets segments are more attractive than others and why?
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Dear Kheepe Lawrence Moremi I am from Jordan. The Jordanian market is classified as an emerging market, according to the market classification index (Agility Logistics). the classification of Jordan market to emerging markets for several factors that are measured (security, services, laws, legislation, wealth distribution, business environment).
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 Why is Tobin's q not a good measure of firm performance/market value in emerging markets?
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Dear Ratnam
In the numerator (market value of assets) emerging market prices are volatile because of great variations temporally in risk and liquidity. In the denominator (replacement cost of assets) emerging markets tend to have high inflation.
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Hi. Can somebody enlighten me about the above statement that relates to institutional tools that have not been applied yet in emerging economies?
al
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Dear Alex,
When Smith's institutional assumptions are combined with his natural and psychological assumptions, we get hitchless growth. You can look up Schumpeter's "History of Economic Thought" on this. If the institutional assumptions are constrained in the direction I indicated, then growth becomes hitched, which makes stationary or sustainable growth, or even decay possibile.
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I am working on how investors in emerging market securities of the BRVM perceive the risk in this market and what are the determinants?
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For an individual investment, or investment portfolio, the investor's a priori (perceived) risk measure can be quantitatively captured by their estimate of the beta, standard deviation, semi-variance (lower partial moment), kurtosis, and/or skewness. Another approach is to view the merits of the investment on a risk-adjusted return basis.
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Does anyone have the coding to calculate the Diebold and Yilmaz index (2009) or can anyone explain how I can obtain it please? I want to use it to examine stock market integration for my thesis.
Many thanks.
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The following website is created to offer everyone who is interested in spillover effects the opportunity to start their own investigations. You can apply the procedure of Diebold and Yılmaz (2014) without having any programming skills .
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In addition to many economic and financial sources in the field of unreliable risk management procedures, re-evaluation of assets on capital markets, long-term too low interest rates by central banks, granting loans to entities without creditworthiness, etc., according to non-classical theories, other sources of crises economic.
One of these non-classical theories is combining deep economic crises with technological revolutions, the secondary effect of which is over-investing in technological projects and re-evaluating the assets that these projects relate to.
In view of the above, I am asking you: Can the genesis of global economic crises be combined with technological revolutions?
Please, answer, comments. I invite you to the discussion.
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Yes, the genesis of global economic crises be combined with technological revolutions.
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Please share your geographic and industry scope? My research scope includes emerging markets and consumer product companies.
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John Wilkerson My research is on reverse logistics in SCM and am particularly working on perishable items, using Data Envelopment Analysis for performance evaluation of reverse supply chain management of perishable items.
I shall send you a proposal later, if you so wish.
Thanks
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Can I use case study as research technique/design?
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Thank you @Prof. Dr. Janabi, Narjan, and Peter, advise taken. @
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I am currently working on my International Marketing Project which I am given the topic: Barriers to enter into International Marketing or the emerging market; Evidence from the SMEs in Papua New Guinea.
I need help with my Questionnaire formulation which I need to do a Likert Scale Format which will be easy for me to analyze using the SPSS tool.
Thank you
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There are so many question you can ask...look at papers on RG on the topic.
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Apart from the estimation based on roof space available in a constrained area, what other methodologies can comprehensively be used in growth forecast bearing in mind the spatial distribution. Especially for emerging markets with centralized but well developed utilities?
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Hello,
I am working on Entry mode choices of Emerging market firms. The data that i have from two data sources. The problem i am facing relating to SDC platinum data of outward FDI, in which i am not finding any unique variable to merge it with data from CSMAR.
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thats great send me at de201565008@uibe.edu.cn
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Which is the better measure of strategic asset endowment of a country- count of total patents application filed or count of total patents granted? Studies, especially on location determinants of FDI use count of total patent applications filed. Any rationale for the choice?
Thanks
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emerging markets multinationals
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Dear Researcher
We have authored a research paper given below. This might help you-----
“Inter-linkages between Stock Returns of Emerging Economies: An Empirical Study” published in HSB Research Review, Vol. 8 No.1, Jan- Jun 2014, ISSN: 0976-1179, pp. 14-27 (jointly authored by Bodla, B. S. and Pooja Yadav) .
This paper is available on researchgate.
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Hi,
I am evaluating housing market performance in emerging markets and trying to find the market reaction to events such as political issues, policy changes, wars etc. It is challenging for housing, especially in time where housing is already affected by other variables like subprime crisis. The data I have on monthly frequency for +10 years contains Housing Price Index and monthly number of transactions.  Which methodology you think would suits such a situation?
Thanks.
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Dear Abdullah,
The effect of the events such as wars, political instability, policy changes or other kind of events can be tested using structural break analysis. This link may be helpful for you. 
Best wishes,
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According to the introduction, the Emerging Markets Data Base (EMDB) provides information collected since 1975, as well as daily, weekly, monthly, quarterly, and yearly data on more than 2,200 stocks by company, industry, country, region, and more. However, I cannot find yearly data from EMDB. Does it mean my institution don't registry the database? If not, could you please inform me where I can download the related data? Thank you!
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You may try Morningstar.
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International market entry
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Thank you so much for your perspective. My question is in case of wholly owned subsidiary whether a country is imposing local supplier condition. Because under that condition wos becomes difficult and firms would have to go for jv
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Many of the frontier markets have failed to move forward and are rather struggling to do catch-up with emerging markets. What's going on? How can the situation be reversed?
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I think regulators should ensure that listed companies have a minimum float ratio.  The high ownership concentration in many frontier markets means that turnover tends to be very low and this can lead to market inefficiency.
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I am interested in finding studies on behavioural finance in emerging markets.
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HI,
You may find some ideas in this paper:
Momentum, Reversals, and Fund Manager Overconfidence
Financial management Fall 2016, vol 45 issue 3, (pages 609–639)
Biljana N. Adebambo and Xuemin (Sterling) Yan
Best regards
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I need some articles that evaluated the Job Market Signaling model developed by Michael Spence for my review of related literature. Please help me. I need at least seven (7) studies that examined the validity of the model for my thesis. Thank you! God bless you all. :)
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I would suggest
Acharya, S. (1988). A generalized econometric model and tests of a signalling hypothesis with two discrete signals. The Journal of Finance, 43(2), 413-429.
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I agree with you and Rogoff's QJE article that using reserves entails limitations. Nonetheless, foreign exchange market intervention is still an important determinant of exchange rate movements, especially in emerging markets. Moreover, there might be a link to capital flows as well: countries may use reserves to disrupt sudden stops in capital inflows or use them for capital outflows. Is there a possibility to consider this aspect in your updated classification ?  
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Intervention that reduces exchange rate volatility, for example, also
reduces the risks of speculation, creating a feedback loop and potentially leading to
high levels of speculation, reserves volatility and intervention costs. These
intervention costs will be especially large when exchange rate movements are
driven by interest rate shocks, although some degree of opaqueness can help to
reduce them.
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The expanded role of choosing correct concurrent strategy has been rapidly arising on the market after the economic and political problems . Many different trends have appeared on the market over the past decade. At a time when most companies develop their business strategy in some formalized and purposeful way it is often reconstructed into simple low run strategic plans on market positioning and investments, some companies inculcate strategies based on new theories. There is a consensus among market analysts that globalization along with urbanization has brought new players to the market, which has provided a wide range of competitive advantages to each and every companies’ strategy. There is an immense amount of research on different strategies that company could follow to fulfill its needs and to achieve every goal and objective they pursue. It is vital to state that each concurrent strategy is unique. However scholars develop main strategic frameworks for companies and it is still not clear whether one or another is applicable to the present situation on the market. . Given this, numerous CEOs and other executives complain that the strategy that has been chosen is not aligned with their goals and objectives. That is why all facts and components should be deeply analyzed before company’s strategy is developed.
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When discussing about "emergent market" a distinction should be made between markets in the former countries having a socialism regime (see the Central and Eastern European countries) and countries from a former capitalism regimes. In the first case, economies are coming from a state own system and they suffered many changes through different privatization processes. Since I am living in such a country, I would like to remark many differences from the standard strategic thinking in well-developed economies. People should learn first about the competition and competitive advantage and then they should learn about strategic thinking ( by contrast with the deterministic thinking used in socialism planning). In such kind of contexts, it is important to consider the fundamental ideas of strategy design and implementation, but to adapt these models for large corporations and global business to the specific political, social, economical, technological and educational business environment. Also, it is important to consider the cultural environment since decision making process depend on the cultural values in a given country. In conclusion, instead of discussing about "standard strategies" it would be more adequate to discuss about strategic thinking and adapted models of deliberate and emergent strategies to the specific market conditions.
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When assessing the drivers of capital flows, many studies first divide capital flows by nominal GDP (see Ahmed/Zlate 2014, Baek 2006). In my own research, I want to compare the dynamics of US interest rates with capital flows to emerging markets in a descriptive analysis. Is it important to divide capital flows by GDP in this case? If yes, why?
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Because of the normalization you get rid off the size: effect Larger countries (in terms of GDP or population) receive higher capital inflows. By looking at relative variables, you can focus on other determinants (long run growth potential, availability of an educated labor force or whatever).
The other issue is that capital flows might be nonstationary. By dividing through GDP, you will probably produce a more stationary variable.
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I am testing the IDP for Spain. GDP and GDP3 are non-stationary at first difference but the dependent variable is stationary at first difference. Thank you!
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I had a similar problem in my thesis. Go through the ARDL model, it is used when all the variables are not integrated of the same order.
Good Luck.
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The series are Outward FDI, Inward FDI and GDP (in logs). I have run the normality tests available in XLSTAT premium and they produce conflicting results. I am a bit worried because of the P-P plot of the GDP (Ln). How should I procede?
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See if variable is log normal (normal after taking log transformation). In your regression model, make sure:
-Errors are normal
-Errors do not have serial correlation
-No heteroskedasticity
-No autoregressive heteroskedasticity
-Test for granger causality if making causal claim.
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I am trying to develop an IS-LM model of the Bulgarian economy. I believe that research applying the IS-LM model to the transition economies of Central and Eastern Europe could be of great help to my investigation.
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Dear Ehsan,
Thank you very much!
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I’m planning to investigate the relationship between investor sentiment and stock returns in emerging markets. I read about consumer and business confidence indicators used in developed markets. I’m really looking to find out what you’d consider to be the most efficient method to construct investor sentiment indicators in emerging markets and where perhaps I can obtain that kind of data.
 
Thanks.
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Many thanks, Larisa.
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Hello,
I'm currently working on a factor model for Emerging Markets that explain variances in stock returns. I've found a few factors, which I think are significant for explaining stock returns, but most of them suffer from lead and lag problems.
Factors I considered: (They should only be subject to the respective country. I try to include more factors that are subject to every Emerging Market in a second step)
-Industrial production of the specific country (Lag problem occurs)
-Government debt (Lag problem too)
-Short and long term interest rates
-Volatility of inflation
-Export volume
Thank you in advance!
Kind regards
Max
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An opinion of Real option analysis on emerging markets
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I'd be interested how you apply your interesting thought to Somalia from whence I have just returned.
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I need weekly data if possible?
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For comparable data, best to chevk the statistical databases of International Organisations, such as IMF, WORLD BANK, UN, OECD to name a few.
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Dear Colleagues,
Can someone suggest me a  textbook on Entrepreneurship in Emerging Markets, suitable for MBA students,
Thanks in advance!
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Dear Besnik
Please see the Leo Dana's books:
1. When Economies Change Hands: A Survey of Entrepreneurship in the Emerging Markets of Europe from the Balkans to the Baltic States
2. When Economies Change Paths: Models of Transition in China, the Central Asian Republics, Myanmar & the Nations of Former Indochine Française
They are great books and are country-based!
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I am working on low cost distribution solutions for financial services. can any one please suggest relevant literature
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Thank you !!
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is there any impactbetween investing with venture capital in emerging markets and the financial liberalization?
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I agree with the preceding views.  There are plusses and minuses at once in this issue.  VC is much needed.  In fact in emerging markets all capital that is invested in businesses are like VC due to the lack of overall transparency, accountability, and responsibility issues.  Further, the treatment of investing shareholder, in this case the VC, will bring in a lot of experience and guidance and direction to the business.  However, by nature they want to cash out when the time comes.  In this case the financial sector infrastructure and the markets will be the outlet.  If there is inadequate enforcement of the rule of law (property rights, transfer, contracts, market access, crony capitalism blues, etc) then the perceived risk are going to be extremely high in that market place.  IPOs will not allow for full pricing of the risks underlying the business venture, and therefore the stock will usually be underpriced, or it will not reach its potential.  THis is a major drawback in investing in emerging markets.  VC formation in the sense of the say US Silicon Valley applications will be enormously risky.  Investors will require very high premiums to enter this market.  THus one possible way out of this is to have a strong market for control and this requires behind the scenes negotiations.  You do not need a financial market for that.  THis is one of the weaknesses of financial liberalization without adequate legal and regulatory frameworks in place, and a strong and liquid capital markets formation.
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Examples of successful transition from frontier to emerging stock market,
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Dear Carl Robinson
Greetings,
There are many factors may be effect of stock market transition such as economic factors ( GDP , Exchange rate , inflation , unemployment rate .....) and financial factors ( size , debt , liquid , profitability ......) . I think these factors need to test statistical tools and show the results.
Best Regards
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I have seen a few studies of M-Pesa, but nothing like an Uber in the developing world.
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As information is the currency of the sharing economy, the slower rate of participation in the sharing economy may be explained by the slower rollout of access-enabling technologies. Institutional bottlenecks and regulatory gridlocks are prevalent. Resulting in heterogeneous access to public media in Asia (2012):
Discounting infrastructure challenges and slow rollout, there are cultural obstacles as well. Whether this is a response to the prevailing regulatory climate is unsure. Knowledge sharing in IP intensive firms in the South-East Asian context seems to be hampered by the lack of an "organizational learning environment", where employees are not expected to be "performers":
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Looking for emerging market entry strategies.
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You will have to spend time understanding the context I which you intent to do business in. PESTEL analysis is always a good start. The leadership requirements (role) must be aligned to the opportunities and challenges identified.  If you do not have the requirements you must either obtain them or appoint and develop leaders to acquire them. You cannot just enter into a turbulent market and think it is "business as usual". Each context requires its own unique strategy.
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Fiscal policy may be a good tool to curb unemployment in a country like South Africa, where there are other factors that influence the employment (i.e trade union power, high unskilled labor force and kind of their political structure) ?
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FISCAL POLICY: The idea that government expenditure would lead to the creation of job, and therefore, per capita income makes sense in theory and may have work for many countries. However, mere increase in government expenditure itself without targeting job creation would not have that effect. The building of roads, power dams, etc. in the US had helped the US eased its way out of recession, but similar effect is difficult to repeat in other countries. Poorly managed fiscal policy generally lead to deficit spending or corruption and the regular Joe and his family do not see a penny of the "trickle down effect" that suppose to come. If tax incentive is use to attract foreign investment to come and invest---and create job, this would be more targeted fiscal policy. generally, the policy would designated a certain territory or industry sector to help ease unemployment through its tax incentive tools. However, fiscal policy alone may not be enough to curve unemployment especially in a case such that of South Africa where unemployment is 25%.
MONETARY POLICY: generally, emerging economies, such as India for example, would use monetary policy to target employment. The rationale is that if the interest is low, companies would borrow money to expand and the expansion leads to job creation. Low interest also help stimulate spending. The combined effect is to fuel the economy and reduce unemployment. South Africa has 25% unemployment and a large labor pool of unskilled workers; both fiscal and monetary policy tools could be used if carefully crafted and implemented.
UNSKILLED LABOR FORCE: This input factor should be exploited. Thirty years ago, the ASEAN countries were unskilled labor region. It attracted labor intensive manufacturing, such as textile manufacturing for export to the advanced economies. In time, the economy grew and employed people. Today, the ASEAN moves up a notch to semi-skilled and skilled manufacturing assembly. South Africa, having its own deep sea port and strategically located in the continent of a large market and well connected to the outside world--could use the large pool of unskilled labor to its advantage. Tax incentive (fiscal policy) and labor interest rate (monetary policy) may be used to attract FDI inflow and relieve the current job market stagnation.
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Key Factors that are internal to firm or external to firm 
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In addition to my point above, you will observe that Adjustment to new political environment as an issue for SMEs in sub-Saharan Africa.  Another challenge for innovation is clusterism.  Many scholars identify that SMEs compete for the same small market and over congested market.  In simple terms, this builds into SMEs in Africa south the Sahara operating in clustered industrial markets. 
Reference suggestion - Parker, R.L, Riopelle, R and Steel, W.F 1995. Small enterprises Adjusting to Liberasation in Five African countries. World Bank Discussion Papers Africa Technical Department Series
Yoshino, Y 2011. Industrial Clusters and micro and small enterprises in Africa: from survival to growth
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I'm interested in the effectiveness of Corporate governance codes in emerging markets and will appreciate any framework that can assist in evaluating the outcomes of the codes from a financial or accounting point of view.
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Thanks so much for your responses and should any one come across how to deal with endogeneity, it will be appreciated too. I tend to think that the consequences we arrive at by some of these methods could also be inclusive of other factors other than Corporate governance codes.
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Erick
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Consider the special characteristics of MNEs from developing nations and assess their progress in entering new markets.
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Thanks Tiia
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Topics under international business
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From that file you'll see which topics are often taught at such courses. Enjoy your module!