INTRODUCTION
Elections can have significant private-sector consequences. The transfer of executive or legislative power can create new regulatory risks triggered by shifts in government priorities and intensify market volatility by creating general investor uncertainty. In 2019, some of the largest emerging economies in Asia, Africa and Latin America could undergo disruptive political changes, while populist and anti-establishment parties are set to expand their reach in the European Union. This article provides a preliminary assessment of the policy implications of these elections and the risks for global financial institutions.