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Journal of Emerging Market Finance

Journal of Emerging Market Finance

Managing Editor
G Balasubramanian Institute for Financial Management and Research, Chennai, India

eISSN: 09730710 | ISSN: 09726527 | Current volume: 17 | Current issue: 3 Frequency: 3 Times/Year

Emerging markets are affected both by the pace and sequencing of policy reforms. This requires special analytical tools to determine the behaviour of financial variables in an environment which is subjected to policy shocks.

The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets.

Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.

This journal is a member of the Committee on Publication Ethics (COPE).

Electronic Access:
Journal of Emerging Market Finance is available electronically on SAGE Journals Online at

Emerging markets are affected both by the pace and sequencing of policy reforms. This requires special analytical tools to determine the behaviour of financial variables in an environment which is subjected to policy shocks.

The Journal of Emerging Market Finance (JEMF) is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. JEMF is a blind peer-reviewed journal that attracts articles in these broad areas of research:

Idiosyncratic factors that prevail in emerging markets: Some emerging markets are characterised by presence of financial instruments that are absent from other markets. For example, microfinance institutions, instruments to drive financial inclusion, etc. Similarly, certain financial markets are almost non-existent in emerging markets as compared to developed markets. For example, secondary debt market, simple as well as complex derivative instruments, etc. The journal encourages articles on these topics.

Comparing emerging markets with developed markets: Some of the key comparison units are market efficiency, corporate governance, derivatives market, ability of the markets to absorb new products, etc.

New scopes and challenges for emerging markets: We encourage articles that often identify issues which are expected to be extremely important for the future. Issues in energy trading, inflow of foreign capital, etc., are some of these issues.

Editorial Board
Hamid Beladi University of Texas at San Antonio, USA
Sudipto Bhattacharya London School of Economics, UK
Menachem Brenner New York University, USA
Sudipto Dasgupta Hong Kong University of Science & Technology, Hong Kong
Kose John New York University, USA
Richard E Kihlstrom University of Pennsylvania, Philadelphia, USA
Bruce N Lehmann University of California, San Diego, USA
Robert Lensink Groningen University (RuG), Netherlands
Sugata Marjit Centre for Studies in Social Sciences, Calcutta, India
Maureen O'Hara National University, La Jolla, CA, USA
John D Knopf University of Connecticut, USA
Enrico C Perotti Universiteit Van Amsterdam, Netherlands
Raghuram Rajan University of Chicago, Chicago, USA
Ajay Shah National Institute of Public Finance and Policy, New Delhi, India
Carsten Sorensen Copenhagen Business School, Denmark
Rangarajan K Sundaram New York University, USA
Oren Sussman Wadham College, Oxford University, UK
Richard J Sweeney Georgetown University, Washington, USA
Susan Thomas Indira Gandhi Institute for Development Research, Mumbai, India
Clas Wihlborg Copenhagen Business School, Frederiksberg, Denmark
Chenggang Xu The University of Hong Kong, Hong Kong
  • Australian Business Deans Council
  • Chartered Association of Business Schools (ABS)
  • DeepDyve
  • Dutch-KB
  • EBSCO: EconLit
  • Emerging Sources Citation Index (ESCI)
  • Indian Citation Index (ICI)
  • J-Gate
  • OCLC
  • Ohio
  • Portico
  • Pro-Quest-RSP
  • ProQuest-Illustrata
  • ProQuest: International Bibliography of the Social Sciences (IBSS)
  • Research Papers in Economics (RePEc)
  • UGC
  • Journal of Emerging Market Finance is hosted on SAGE Track System, a web based online submission and peer review system. Please read the Manuscript Submission guidelines below, and then visit to login/create account and submit your article online.

    Submission Guidelines for Journal of Emerging Market Finance

    1. Manuscripts: All articles should be typewritten using double-spacing throughout (not only the text but also displayed quotations, tables, notes, references and all other matter). All correspondence should be made sent to the Journal Administrator at
    2. Abstracts and Keywords: An abstract of not more than 100 words and up to 6 keywords should follow the title page.
    3. Copyright Form: Authors will be provided with a copyright form once the contribution is accepted for publication. The submission will be considered as final only after the filled-in and signed copyright form is received. In case there are two or more authors, the corresponding author needs to sign the copyright form.
    4. Cover Page: Articles should be submitted with the cover page bearing only the title of the article, author/s’ names, designations, official addresses, phone/fax numbers, and email addresses. Author/s’ name should not appear on any other page. In case there are two or more authors, then corresponding author’s name and address details must be clearly specified on the first page itself.
    5. Headings: Effort should be made to limit the level of headings within each article. However, should the need arise, clearly number all headings, e.g., 1, 1.1; 2, 2.1.
    6. Spellings: Where alternative forms exist, choose ‘-ise’ spellings instead of ‘-ize’. Use British spellings rather than American (‘programme’ not ‘program’; ‘labour’ not ‘labor’, etc.).
    7. Hyphenation: Pay attention to consistency in the hyphenation of words. Do not alternate, for example, between ‘macro-economic’ and ‘macroeconomic’. A distinction is, however, made between noun and attributive adjective: ‘the middle class’ but ‘middle-class ethics’.
    8. Abbreviations: No stops are needed between capitals: e.g., CPI, UNESCO, MP. Include a final full stop in abbreviations (words shortened by omitting the end), such as, vol. and ed., but not in contractions (words shortened by omitting the middle), such as Mr and Dr.
    9. Numbers: Write numbers in figures (not words) for exact measurements, quantities and percentages. Use thousands, millions, billions and not crores and lakhs. In text, use ‘per cent’; in tables, ‘%’. In the case of decimals, use ‘0.8’ rather than ‘.8’. Maintain consistency in number of decimal places after the decimal point. Thus, use either ‘7.8’ and ‘10.0’ or ‘7.89’ and ‘10.00’ throughout the article. In more general description, numbers below 10 should be spelt out in words and above 10 in figures. Use ‘twentieth century’, ‘1980s’.
    10. Figures and Tables: Tables should be typewritten, each on a separate page and numbered sequentially with Arabic numerals. Distinguish between figures (diagrams) and tables (statistical material) and number them in separate sequences. Each table/figure should have a brief and descriptive title. All Figures and Tables should be cited in the text. Sources for figures and tables should be mentioned irrespective of whether or not they require permissions. All photographs and scanned images should have a resolution of minimum 300 dpi and 1500 pixels and their format should be TIFF or JPEG. Due permissions should be taken for copyright protected photographs/images. Even for photographs/images available in the public domain, it should be clearly ascertained whether or not their reproduction requires permission for purposes of publishing (which is a profit-making endeavor). All photographs/scanned images should be provided separately.
    11. Quotes: Use single quotes throughout. Double quotes only to be used within single quotes. Spellings of words in quotations should not be changed. Quotations of 45 words or more should be separated from the text and indented with one space with a line space above and below.
    12. Equations: All but the very short mathematical equations should be displayed on a separate line and centred. Equations must be numbered consecutively on the right margin, using Arabic numerals in parentheses. To reduce errors in typesetting, please differentiate clearly between the letter I (ell) and the numeral 1 (one), the letter o (oh) and the numeral 0 (zero) and marginal notations.
    13. Notes: Notes should be consecutively numbered and presented at the end of the article, not at the foot of the page. An acknowledgement or statement about the background of the article will be set at the end of the article, before the list of references. In general, footnotes should contain more than a mere reference. They should be referred to in the text by numerical superscripts.
    14. In-text Citations and References: A consolidated listing of all books, articles, essays, theses and documents referred to (including any referred to in the tables, graphs and maps) should be provided at the end of the article.
    • Arrangement of references: Reference list entries should be alphabetized by the last name of the first author of each work. In each reference, authors’ names are inverted (last name first) for all authors (first, second or subsequent ones); give the last name and initials for all authors of a particular work unless the work has more than six authors. If the work has more than six authors, list the first six authors and then use et al. after the sixth author’s name.
    • Chronological listing: If more than one work by the same author(s) is cited, they should be listed in order by the year of publication, starting with the earliest.
    • Sentence case: In references, sentence case (only the first word and any proper noun are capitalized – e.g., ‘The software industry in India’) is to be followed for the titles of papers, books, articles, etc.
    • Title case: In references, Journal titles are put in title case (first letter of all words except articles and conjunctions are capitalized – e.g., Journal of Business Ethics).
    • Italicize: Book and Journal titles are to be italicized.
    1. Citations and References should adhere to the guidelines below (based on the Publication Manual of the American Psychological Association, 6th edition). Some examples are given below:

    In text citations:

    • One work by one author: (Kessler, 2003, p. 50) or ‘Kessler (2003) found that among the epidemiological samples..’.
    • One work by two authors: (Joreskog & Sorborn, 2007, pp. 50–66) or Joreskog and Sorborn (2007) found that..
    • One work by three or more authors: (Basu, Banerji & Chatterjee, 2007) [first instance]; Basu et al. (2007) [Second instance onwards].
    • Groups or organizations or universities: (University of Pittsburgh, 2007) or University of Pittsburgh (2007).
    • Authors with same surname: Include the initials in all the in-text citations even if the year of publication differs, e.g., (I. Light, 2006; M.A. Light, 2008).
    • Works with no identified author or anonymous author: Cite the first few words of the reference entry (title) and then the year, e.g., (‘Study finds’, 2007); (Anonymous, 1998).
      If abbreviations are provided, then the style to be followed is: (National Institute of Mental Health [NIMH], 2003) in the first citation and (NIMH, 2003) in subsequent citations.
    • Two or more works by same author: (Gogel, 1990, 2006, in press)
    • Two or more works with different authors: (Gogel, 1996; Miller, 1999)
    • Secondary sources: Allport's diary (as cited in Nicholson, 2003).


    • Books:
      Patnaik, Utsa (2007). The republic of hunger. New Delhi: Three Essays Collective.
    • Edited Books:
      Amanor, Kojo S., & Moyo, S. (Eds) (2008). Land and sustainable development in Africa. London and New York: Zed Books.
    • Translated books:
      Amin, S. (1976). Unequal development (trans. B. Pearce). London and New York: Monthly Review Press.
    • Book chapters:
      Chachra, S. (2011). The national question in India. In S. Moyo and P. Yeros (Eds), Reclaiming the nation (pp. 67–78). London and New York: Pluto Press.
    • Journal articles:
      Foster, J.B. (2010). The financialization of accumulation. Monthly Review, 62(5), 1-17. doi: 10.1037/0278-6133.24.2.225 [DOI number optional]
    • Newsletter article, no author:
      Six sites meet for comprehensive anti-gang intiative conference. (2006, November/December). OOJDP News @ a Glance. Retrieved from
      [Please do not place a period at the end of an online reference.]
    • Newspaper article:
      Schwartz, J. (1993, September 30). Obesity affects economic, social status. The Washington Post, pp. A1, A4.
    • In-press article:
      Briscoe, R. (in press). Egocentric spatial representation in action and perception. Philosophy and Phenomenological Research. Retrieved from
    • Non-English reference book, title translated into English:
      Real Academia Espanola. (2001). Diccionario de la lengua espanola [Dictionary of the Spanish Language] (22nd ed.). Madrid, Spain: Author.
    • Special issue or section in a journal:
      Haney, C., & Wiener, R.L. (Eds) (2004). Capital punishment in the United States [Special Issue]. Psychology, Public Policy, and Law, 10(4), 1-17.
    1. Book Reviews: Book reviews must contain the name of the author and title/subtitle of the book reviewed, place of publication and publisher, date of publication, number of pages and price.

    Please use the following style:
    Ric Shand (ed.), Economic Liberalization in South Asia. Delhi: Macmillan, 1999, 536 pages, Rs 550.


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