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date: 04 March 2021

Abstract and Keywords

This chapter frames risk management for firms operating in emerging markets by addressing three sets of questions: What are the (drivers of) risks? How does the incidence of these risks depend on the nature of the investment at risk? How should these risks be managed? The answers to these questions are framed in terms of (i) an “inside-out” classification of risks, (ii) specific measures to manage risks, and (iii) the principle of comparative advantage in bearing risk. These then are traced through the risk profiles and risk management possibilities facing “traditional multinational corporations” with operations in emerging markets, as well as MNCs whose global value chains include emerging markets.

Keywords: emerging markets, global value chains, risk management, comparative advantage in risk management

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