A Puzzle of Emerging Markets: A Systemic ‘Surprisingability’

Zeljko Sevic (University of Greenwich Business School, Old Royal Naval College, 30 Park Row, Greenwich, London, SE10 9LS, England, UK)

Managerial Finance

ISSN: 0307-4358

Publication date: 1 December 2005


Since the early 1980s when the term ‘emerging markets’ was first coined by the IMF and World Bank to describe the performance in countries with changing institutional framework, the theory has failed to produce a coherent and systemic theory. Overtime the term became generic, initially including developing countries (mainly in Asia and Latin America), but later covering the former socialist countries/economies (labelled as transitional countries), and some ‘developed’ countries that did not have extensive experience of capital market development (mainly due to having a bank‐based financial system).



Sevic, Z. (2005), "A Puzzle of Emerging Markets: A Systemic ‘Surprisingability’", Managerial Finance, Vol. 31 No. 12, pp. 1-10. https://doi.org/10.1108/03074350510769983

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