An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a
developed market
In investing, a developed market is a country that is most developed in terms of its economy and capital markets. The country must be high income, but this also includes openness to foreign ownership, ease of capital movement, and efficiency of ma ...
, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "
frontier market A frontier market is a term for a type of developing country's market economy which is more developed than a least developing countries , least developed country's, but too small, risky, or illiquid to be generally classified as an emerging market ...
" is used for
developing countries
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreem ...
with smaller, riskier, or more illiquid capital markets than "emerging". As of 2006, the economies of
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
and
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
are considered to be the largest emerging markets. According to ''
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Econo ...
'', many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. The 10 largest emerging and developing economies by either
nominal
Nominal may refer to:
Linguistics and grammar
* Nominal (linguistics), one of the parts of speech
* Nominal, the adjectival form of "noun", as in "nominal agreement" (= "noun agreement")
* Nominal sentence, a sentence without a finite verb
* Nou ...
or
PPP-adjusted GDP are 4 of the 5
BRICS
BRICS is an acronym for five leading emerging economies: Brazil, Russia, India, China, and South Africa. The first four were initially grouped as "BRIC" (or "the BRICs") in 2001 by Goldman Sachs economist Jim O'Neill, who coined the ter ...
countries (
Brazil
Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
,
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
and
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
) along with
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
,
Iran
Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...
,
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...
,
Mexico
Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...
,
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...
,
Taiwan
Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...
and
Turkey
Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...
.
When countries "graduate" from their emerging status, they are referred to as emerged markets, emerged economies or emerged countries, where countries have developed from emerging economy status, but have yet to reach the technological and economic development of developed countries.
Terminology
In the 1970s, "less developed countries" (LDCs) was the common term for markets that were less "developed" (by objective or subjective measures) than the developed countries such as the United States, Japan, and those in Western Europe. These markets were supposed to provide greater potential for profit but also more risk from various factors like
patent infringement
Patent infringement is the commission of a prohibited act with respect to a patented invention without permission from the patent holder. Permission may typically be granted in the form of a license. The definition of patent infringement may v ...
. This term was replaced by ''emerging market''. The term is misleading in that there is no guarantee that a country will move from "less developed" to "more developed"; although that is the general trend in the world, countries can also move from "more developed" to "less developed".
Originally coined in 1981 by then
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
economist Antoine Van Agtmael,
the term is sometimes loosely used as a replacement for ''emerging economies'', but really signifies a business phenomenon that is not fully described or constrained by such; these countries are considered to be in a transitional phase between
developing and
developed status. Examples of emerging markets include many countries in Africa, most countries in Eastern Europe, some countries of Latin America, some countries in the Middle East, Russia and some countries in Southeast Asia. Emphasizing the fluid nature of the category, political scientist
Ian Bremmer
Ian Arthur Bremmer (born November 12, 1969) is an American political scientist and author with a focus on global political risk. He is the president and founder of Eurasia Group, a political risk research and consulting firm with principal offic ...
defines an emerging market as "a country where politics matters at least as much as economics to the markets".
The research on emerging markets is diffused within
management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business.
Management includes the activities o ...
literature. While researchers such as
George Haley
George T. Haley is an American author and academic, currently a tenured professor of industrial and international marketing at the University of New Haven in the US state of Connecticut. He is also the director of the Center for International In ...
,
Vladimir Kvint
Vladimir L’vovich Kvint (Russian: Владимир Львович Квинт) is a Russian-American economist and strategist, and President of the International Academy of Emerging Markets. In parallel, since 2007, he has been the Chair of the D ...
,
Hernando de Soto
Hernando de Soto (; ; 1500 – 21 May, 1542) was a Spanish explorer and '' conquistador'' who was involved in expeditions in Nicaragua and the Yucatan Peninsula. He played an important role in Francisco Pizarro's conquest of the Inca Empire ...
,
Usha Haley
Usha C. V. Haley is an American author and academic, currently W. Frank Barton Distinguished Chair of International Business and Professor of Management at the W. Frank Barton School of Business at Wichita State University in the U.S. state of Kans ...
, and several professors from
Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
and
Yale School of Management
The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives ...
have described activity in countries such as India and China, how a market emerges is little understood.
In 2009, Dr. Kvint published this definition: "an emerging market country is a society transitioning from a dictatorship to a free-market-oriented-economy, with increasing economic freedom, gradual integration with the Global Marketplace and with other members of the GEM (Global Emerging Market), an expanding middle class, improving standards of living, social stability and tolerance, as well as an increase in cooperation with multilateral institutions"
In 2008 Emerging Economy Report, the Center for Knowledge Societies defines ''emerging economies'' as those "regions of the world that are experiencing rapid informationalization under conditions of limited or partial
industrialization
Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an econo ...
". It appears that emerging markets lie at the intersection of non-traditional user behavior, the rise of new user groups and community adoption of products and services, and innovations in product technologies and platforms.
More critical scholars have also studied key emerging markets like Mexico and Turkey. Thomas Marois (2012, 2) argues that financial imperatives have become much more significant and has developed the idea of 'emerging finance capitalism' – an era wherein the collective interests of financial capital principally shape the logical options and choices of government and state elites over and above those of labor and popular classes.
Julien Vercueil recently proposed an pragmatic definition of the "emerging economies", as distinguished from "emerging markets" coined by an approach heavily influenced by financial criteria. According to his definition, an emerging economy displays the following characteristics:
[Vercueil, Julien: "Les pays émergents. Brésil – Russie – Inde – Chine... Mutations économiques et nouveaux défis " (Emerging Countries. Brazil – Russia – India – China.. Economic change and new challenges", in French). Paris: Bréal, 3rd Edition, 2012, 232 p.]
# Intermediate income: its PPP per capita income is comprised between 10% and 75% of the average EU per capita income.
# Catching-up growth: during at least the last decade, it has experienced a brisk economic growth that has narrowed the income gap with advanced economies.
# Institutional transformations and economic opening: during the same period, it has undertaken profound institutional transformations which contributed to integrate it more deeply into the world economy. Hence, emerging economies appears to be a by-product of the current globalization.
At the beginning of the 2010s, more than 50 countries, representing 60% of the world's population and 45% of its GDP, matched these criteria.
Among them, the BRICs.
![Newly industrialized countries 2013](https://upload.wikimedia.org/wikipedia/commons/7/7f/Newly_industrialized_countries_2013.svg)
The term "rapidly developing economies" is being used to denote emerging markets such as The United Arab Emirates, Chile and Malaysia that are undergoing rapid growth.
In recent years, new terms have emerged to describe the largest developing countries such as
BRIC
BRIC is a grouping acronym referring to the developing countries of Brazil, Russia, India, and China, which are identified as rising economic powers. It is typically rendered as "the BRIC," "the BRIC countries," "the BRIC economies," or alte ...
(Brazil, Russia, India, and China), along with ''BRICET'' (BRIC + Eastern Europe and Turkey), ''BRICS'' (BRIC + South Africa), ''BRICM'' (BRIC + Mexico),
MINT
MiNT is Now TOS (MiNT) is a free software alternative operating system kernel for the Atari ST system and its successors. It is a multi-tasking alternative to TOS and MagiC. Together with the free system components fVDI device drivers, XaAES g ...
(Mexico, Indonesia, Nigeria and Turkey),
Next Eleven
Terence James O'Neill, Baron O'Neill of Gatley (born 17 March 1957) is a British economist best known for coining BRICs, the acronym that stands for Brazil, Russia, India, and China—the four once rapidly developing countries that were thought ...
(Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey, and Vietnam) and
CIVETS
A civet () is a small, lean, mostly nocturnal mammal native to tropical Asia and Africa, especially the tropical forests. The term civet applies to over a dozen different species, mostly from the family Viverridae. Most of the species diversity ...
(Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa). These countries do not share any common agenda, but some experts believe that they are enjoying an increasing role in the world economy and on political platforms.
Lists of emerging (or developed) markets vary; guides may be found in such investment information sources as ''EMIS'' (a Euromoney Institutional Investor Company), ''
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Econo ...
'', or market index makers (such as
MSCI
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indexes, multi-asset portfolio analysis tools, ESG and climate products. It operates the MSCI World, MSCI All ...
).
In an Opalesque.TV video,
hedge fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...
manager Jonathan Binder discusses the current and future relevance of the term "emerging markets" in the financial world. Binder says that in the future investors will not necessarily think of the traditional classifications of "
G10" (or
G7) versus "emerging markets". Instead, people should look at the world as countries that are fiscally responsible and countries that are not. Whether that country is in Europe or in South America should make no difference, making the traditional "
blocs" of categorization irrelevant. Guégan ''et al.'' (2014) also discuss the relevance of the terminology "emerging country" comparing the credit worthiness of so-called emerging countries to so-called developed countries. According to their analysis, depending on the criteria used, the term may not always be appropriate.
The 10 ''Big Emerging Markets'' (BEM) economies are (alphabetically ordered): Argentina, Brazil, China, India, Indonesia, Mexico, Poland, South Africa, South Korea and Turkey. Egypt, Iran, Nigeria, Pakistan, Russia, Saudi Arabia, Taiwan, and Thailand are
other major emerging markets.
Newly industrialized countries
The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent ...
are emerging markets whose economies have not yet reached developed status but have, in a macroeconomic sense, outpaced their developing counterparts.
Individual investors can invest in emerging markets by buying into emerging markets or global funds. If they want to pick single stocks or make their own bets they can do it either through ADRs (American depositor Receipts – stocks of foreign companies that trade on US stock exchanges) or through exchange traded funds (exchange traded funds or ETFs hold basket of stocks). The exchange traded funds can be focused on a particular country (e.g., China, India) or region (e.g., Asia-Pacific, Latin America).
Emerged market
Also referred to as "emerged economy" or "emerged country".
Emerging markets share the economic characteristics such as low income, high growth economies that use market liberalization as their main means of growth. Of course, emerging economies can develop out of such emerging status, entering the post-emerging stage. When emerging markets "graduate" from their economic status, they are referred to as emerged markets.
Countries like
Israel
Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...
,
Poland
Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...
,
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...
,
Taiwan
Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...
, the
Czech Republic
The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...
, and city-states such as
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
have transitioned from emerging to “emerged”.
These emerged markets tend to be characterized by higher incomes and relatively stable political schemes, compared to those categorized as emerging markets.
Commonly listed
Various sources list countries as "emerging economies" as indicated by the table below.
A few countries appear in every list (BRICS, Mexico, Turkey). Indonesia and Turkey are categorized with Mexico and Nigeria as part of the
MINT
MiNT is Now TOS (MiNT) is a free software alternative operating system kernel for the Atari ST system and its successors. It is a multi-tasking alternative to TOS and MagiC. Together with the free system components fVDI device drivers, XaAES g ...
economies. While there are no commonly agreed upon parameters on which the countries can be classified as "Emerging Economies", several firms have developed detailed methodologies to identify the top performing emerging economies every year
BBVA Research
In November 2010,
BBVA
Banco Bilbao Vizcaya Argentaria, S.A. (), better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present ...
Research introduced a new economic concept, to identify key emerging markets.
This classification is divided into two sets of developing economies.
As of 2014, the groupings are as follows:
EAGLEs (
emerging and growth-leading economies
Emerging and growth-leading economies (EAGLEs) are a grouping of key emerging markets developed by BBVA Research. The EAGLE economies are expected to lead global growth in the next 10 years, and to provide important opportunities for investor ...
): Expected Incremental GDP in the next 10 years to be larger than the average of the G7 economies, excluding the US.
*
*
*
*
*
*
*
*
NEST: Expected Incremental GDP in the next decade to be lower than the average of the G6 economies (G7 excluding the US) but higher than Italy's.
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Other emerging markets
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Emerging Market Bond Index Global
The
Emerging Market Bond Index Global (EMBI Global) by
J.P. Morgan
JP may refer to:
Arts and media
* ''JP'' (album), 2001, by American singer Jesse Powell
* ''Jp'' (magazine), an American Jeep magazine
* ''Jönköpings-Posten'', a Swedish newspaper
* Judas Priest, an English heavy metal band
* ''Jurassic Park ...
was the first comprehensive EM sovereign index in the market, after the EMBI+. It provides full coverage of the EM asset class with representative countries, investable
instruments
Instrument may refer to:
Science and technology
* Flight instruments, the devices used to measure the speed, altitude, and pertinent flight angles of various kinds of aircraft
* Laboratory equipment, the measuring tools used in a scientific lab ...
(sovereign and quasi-sovereign), and transparent rules.
The EMBI Global includes only USD-denominated emerging markets sovereign bonds and uses a traditional,
market capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders.
Market capitalization is equal to the market price per common share multiplied by t ...
weighted method for country allocation.
As of March end 2016, the EMBI Global's market capitalization was $692.3bn.
For country inclusion, a country's
GNI per capita must be below the Index Income Ceiling (IIC) for three consecutive years to be eligible for inclusion to the EMBI Global. J.P. Morgan defines the Index Income Ceiling (IIC) as the GNI per capita level that is adjusted every year by the growth rate of the World GNI per capita,
Atlas method The Atlas method is a method used by the World Bank since 1993 to estimate the size of economies in terms of gross national income (GNI) in U.S. dollars.
A country's GNI in local (national) currency is converted into U.S. dollars using the Atlas co ...
(current US$), provided by the World Bank annually. An existing country may be considered for removal from the index if its GNI per capita is above the Index Income Ceiling (IIC) for three consecutive years as well as the country's long term foreign currency sovereign credit rating (the available ratings from all three agencies: S&P, Moody's & Fitch) is A-/A3/A- (inclusive) or above for three consecutive years.
J.P. Morgan has introduced what is called an "Index Income Ceiling" (IIC), defined as the income level that is adjusted every year by the growth rate of the World GNI per capita, provided by the World Bank as "GNI per capita, Atlas method (current US$) annually". Once a country has GNI per capita below or above the IIC level for three consecutive years, the country eligibility will be determined.
* J.P. Morgan has established the base IIC level in 1987 to match the World Bank High Income threshold at US$6,000 GNI per capita.
* Every year, growth in the World GNI per capita figure is applied to the IIC, establishing a new IIC that is dynamic over time.
* This approach ensures that J.P. Morgan's cutoff for index removal is adjusted by the World income growth rate, and not by the inflation rate of a smaller sample of Developed economies.
* This metric essentially incorporates real global growth, global inflation, and currency exchange rate (current USD-denominated) changes.
* Essentially, the introduction of the IIC establishes a higher, more appropriate threshold for country eligibility in the EMBI Global/Diversified.
Emerging Markets Index
The
Emerging Markets Index
An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were ...
by MasterCard is a list of the top 65 cities in emerging markets. The following countries had cities featured on the list (as of 2008):
Countries with cities included in the 2008 Emerging Markets Index
Emerging Market Multinationals Report
Released for the first time in 2016 by
Lourdes Casanova
Lourdes S. Casanova is an academic, author and currently a Senior Lecturer of Management at the Samuel Curtis Johnson Graduate School of Management and Gail and Rob Cañizares Director of the Emerging Markets Institute. Before her appointment to J ...
, Anne Miroux and collaborators at the Emerging Markets Institute at
Samuel Curtis Johnson Graduate School of Management
The Samuel Curtis Johnson Graduate School of Management is the graduate business school in the SC Johnson College of Business at Cornell University, a private Ivy League university located in Ithaca, New York. It was founded in 1946 and rename ...
,
Cornell University
Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to teach an ...
, the Emerging Market Multinationals Report annually compares the economic performance of the emerging economies with the rest of the World, as well as investment, revenues, valuation, transactions, and other business data of emerging markets multinationals companies (EMNCs) with big companies, based on a theme defined every year.
The report organizes emerging countries with the definition of the E20+1, considering the size, as measured by nominal gross domestic product (GDP), and weight each country in terms of the demography and social variables. It is also considered the emerging economy groupings of major international organizations such as the International Monetary Fund (IMF) and the United Nations (UN) as well as those from think tanks and research institutes.
In the first semester of 2021, EMI released the EMI Quarterly Report, analyzing data of stock markets and M&A of emerging countries. In 2022, EMI launched the EMI EMNC Rankings, ranking the 500 largest companies by revenue (EMNC 500R), the 500 largest market capitalized companies (500MC), and listing 200 best ESG performers companies (200ESG).
Global Growth Generators
"Global Growth Generators", or
3G (countries)
3G countries or Global Growth Generating countries are 11 countries which have been identified as sources of growth potential and of profitable investment opportunities.
Background
Prepared in February 2011, a Citigroup report prepared by analy ...
, is an alternative classification determined by
Citigroup
Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking ...
analysts as being countries with the most promising growth prospects for 2010–2050. These consist of Indonesia, Egypt, seven other emerging countries, and two countries not previously listed before, specifically
Iraq
Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq ...
and
Mongolia
Mongolia; Mongolian script: , , ; lit. "Mongol Nation" or "State of Mongolia" () is a landlocked country in East Asia, bordered by Russia to the north and China to the south. It covers an area of , with a population of just 3.3 million, ...
. There has been disagreement about the reclassification of these countries, among others, for the purpose of acronym creation as was seen with the BRICS.
Estimating Demand in Emerging Markets
Estimating the demand for products or services in emerging markets and developing economies can be complex and challenging for managers. These countries have unique commercial environments and may be limited in terms of reliable data, market research firms, and trained interviewers. Consumers in some of these countries may consider surveys an invasion of privacy. Survey respondents may try to please researchers by telling them what they want to hear rather than providing honest answers to their questions. However some companies have dedicated their entire business units for understanding the dynamics of emerging markets owing to their peculiarity.
Economy
The following table lists the 25 largest emerging economies by GDP (nominal) and GDP (PPP) in their respective peak year.
Members of the
G-20 major economies
The G20 or Group of Twenty is an Intergovernmental organization, intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the World economy, global economy, such as international f ...
are in bold.
See also
*
Next Eleven
Terence James O'Neill, Baron O'Neill of Gatley (born 17 March 1957) is a British economist best known for coining BRICs, the acronym that stands for Brazil, Russia, India, and China—the four once rapidly developing countries that were thought ...
*
Emerging market debt
Emerging market debt (EMD) is a term used to encompass bonds issued by Less Developed Countries. It does not include borrowing from government, supranational organizations such as the IMF or private sources, though loans that are securitized and ...
*
Developed market
In investing, a developed market is a country that is most developed in terms of its economy and capital markets. The country must be high income, but this also includes openness to foreign ownership, ease of capital movement, and efficiency of ma ...
*
Frontier markets A frontier market is a term for a type of developing country's market economy which is more developed than a least developed country's, but too small, risky, or illiquid to be generally classified as an emerging market economy. The term is an econ ...
*
Global North and Global South
The concept of Global North and Global South (or North–South divide in a global context) is used to describe a grouping of countries along socio-economic and political characteristics. The Global South is a term often used to identify region ...
*
Tehran Stock Exchange
The Tehran Stock Exchange (TSE) ( fa, بورس اوراق بهادار تهران, romanized: ''Burs-e Owraq-e Bahadar-e Tehran'') is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. , 339 companies with a com ...
*
Emerging and growth-leading economies
Emerging and growth-leading economies (EAGLEs) are a grouping of key emerging markets developed by BBVA Research. The EAGLE economies are expected to lead global growth in the next 10 years, and to provide important opportunities for investor ...
*
BRIC
BRIC is a grouping acronym referring to the developing countries of Brazil, Russia, India, and China, which are identified as rising economic powers. It is typically rendered as "the BRIC," "the BRIC countries," "the BRIC economies," or alte ...
*
BRICS
BRICS is an acronym for five leading emerging economies: Brazil, Russia, India, China, and South Africa. The first four were initially grouped as "BRIC" (or "the BRICs") in 2001 by Goldman Sachs economist Jim O'Neill, who coined the ter ...
*
Vladimir Kvint
Vladimir L’vovich Kvint (Russian: Владимир Львович Квинт) is a Russian-American economist and strategist, and President of the International Academy of Emerging Markets. In parallel, since 2007, he has been the Chair of the D ...
*
HKUST Institute for Emerging Market Studies
HKUST Institute for Emerging Market Studies (HKUST IEMS) is a university-level institute under thOffice of the Vice-President for Research and Graduate Studiesof The Hong Kong University of Science and Technology (HKUST). It is launched on May 27 ...
*
Free-trade area
A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and ...
*
E7
References
Sources
Goldman Sachs Paper No.134 BRIMC
CIVETS countries – Colombia Official Investment Portal
*Michael Pettis, ''The Volatility Machine: Emerging Economies and the Threat of Financial Collapse'' (2001)
External links
South Korea, Hong Kong, And Israel Are Emerging Markets, But Misclassified As Developed– Macro Affairs
Emerging Markets ReviewEmerging Markets: A Review of Business and Legal Issues
Emerging markets: leading the way to recoveryGrant Thornton International Business Report
Winning in Emerging Markets: Five Key Supply Chain Capabilitiesby Edgar E. Blanco. MIT Center for Transportation & Logistics.
Investment Issues in Emerging Markets – Research Foundation of CFA InstituteEmerging Europe– The latest news about emerging Europe
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