With India, Indonesia, Brazil and South Africa scheduled to hold presidential or general elections within the next 12 months, politics are set to be a key driving force in emerging markets.
The elections will be scattered throughout 2014, with South Africa's general election to be held between April-July, India's general election to be held by May, Indonesia's presidential election due in July and Brazil's presidential election set for October.
"These countries will see a change of administration at a time when all their economies are coming off the boil, which really ramps up the risks surrounding the elections," said Stephen Wilford, director, Asia Pacific, Global Risk Analysis at Control Risks.
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"The new leaders will have to try and execute structural reforms in an environment of slow growth, which makes the task all the more difficult," he added.