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The term emerging markets is used to describe a nation's social or business activity in the process of rapid growth and industrialization. Currently, there are approximately 28 emerging markets in the world, with the economies of China and India considered to be by far the two largest. According to The Economist many people find the term dated, but a new term has yet to gain much traction.
Originally brought into fashion in the 1980s by then World Bank 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 by or constrained to geography or economic strength; such countries are considered to be in a transitional phase between developing and developed status. Examples of emerging markets include China, India, some countries of Latin America (particularly Argentina, Brazil, Chile, and Mexico), some countries in Southeast Asia, most countries in Eastern Europe, Russia, some countries in the Middle East (particularly in the Persian Gulf Arab States), and parts of Africa (particularly South Africa). Emphasizing the fluid nature of the category, political scientist Ian Bremmer 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 literature. While researchers including C. K. Prahalad, George Haley, Hernando de Soto, Usha Haley, and several professors from Harvard Business School and Yale School of Management have described activity in countries such as India and China, how a market emerges is little understood.
In the 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." 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.
In recent years, new terms have emerged to describe the largest developing countries such as BRIC that stands for Brazil, China, India and Russia, along with BRICS (BRIC + South Africa), BRICM (BRIC + Mexico) and BRICK (BRIC + South Korea). 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.
A large number of research works are in progress at leading universities and business schools to study and understand various aspects of Emerging Markets.
It is difficult to make an exact list of emerging (or developed) markets; the best guides tend to be investment information sources like ISI Emerging Markets and The Economist or market index makers (such as Morgan Stanley Capital International). These sources are well-informed, but the nature of investment information sources leads to two potential problems. One is an element of historicity; markets may be maintained in an index for continuity, even if the countries have since developed past the emerging market phase. Possible examples of this are Israel, South Korea, and Taiwan. A second is the simplification inherent in making an index; small countries, or countries with limited market liquidity are often not considered, with their larger neighbours considered an appropriate stand-in.
Newly industrialized countries are emerging markets whose economies have not yet reached first world status but have, in a macroeconomic sense, outpaced their developing counterparts.
FTSE emerging markets listEdit
The FTSE Group distinguishes between Advanced and Secondary Emerging markets on the basis of their national income and the development of their market infrastructure. The Advanced Emerging markets are classified as such because they are Upper Middle Income GNI countries with advanced market infrastructures or High Income GNI countries with lesser developed market infrastructures. 
The Advanced Emerging markets are: Template:Country data Brazil , Template:Country data Hungary , Template:Country data Mexico , Template:Country data Poland , Template:Country data South Africa , Template:Country data Taiwan .
The Secondary Emerging markets are some Upper Middle, Lower Middle and Low Income GNI countries with reasonable market infrastructures and significant size and some Upper Middle Income GNI countries with lesser developed market infrastructures.
The Secondary Emerging markets are: Template:Country data Argentina , Template:Country data Chile , Template:Country data China , Template:Country data Colombia , Template:Country data Czech Republic , Template:Country data Egypt , Template:Country data India , Template:Country data Indonesia , Template:Country data Malaysia , Template:Country data Morocco , Template:Country data Pakistan , Template:Country data Peru , Template:Country data Philippines , Template:Country data Romania , Template:Country data Russia , Template:Country data Thailand , Template:Country data Turkey .
will be classified by FTSE as a Secondary Emerging Markets in the September 2010 indices.
- Emerging market debt
- Pre-emerging markets
- Developed market
- Frontier markets
- North-South divide
- Emerging Markets Index
- ↑ "Emerging Economies and the Transformation of International Business" By Subhash Chandra Jain. Edward Elgar Publishing, 2006 p.384
- ↑ includeonly>"Acronyms BRIC out all over", The Economist, September 18, 2008. Retrieved on September 21, 2008.
- ↑ FT.com / Columnists / John Authers - The Long View: How adventurous are emerging markets?
- ↑ Five Years of China’s WTO Membership. EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, Volume 33, Number 3, pp. 263-304, 2006. by Paolo Farah
- ↑ Alternative Stock Library / Looking for Escape? Go Brazil!
- ↑ 
- ↑ Emerging Economy Report
- ↑ 8.0 8.1 8.2 Classified by FTSE as a developed market.
- ↑ Yale University Library: Emerging Markets - The Big Ten Countries
- ↑ See FTSE Country Classification, September 2009
- ↑ http://www.ftse.com/Research_and_Publications/FTSE_Glossary.jsp
- ↑ Possible change to Developed.
- ↑ To be moved to Frontier September 2010. See: http://www.ftse.com/Indices/Country_Classification/Downloads/FTSE_Country_Classification_Sept_09_update.pdf
- ↑ Possible change to Frontier.
- ↑ 15.0 15.1 15.2 Possible change to Advanced Emerging.
- ↑ http://www.ftse.com/Indices/Country_Classification/Downloads/FTSE_Country_Classification_Sept_09_update.pdf
- ↑ MSCI International Equity Indices
- ↑ Will be classified also by MSCI as a developed market in the May 2010 Semi-Annual Index Review. See: MSCI Market Classification Decisions, June 15 2009, bottom of p. 1.
- Goldman Sachs Paper No.134 BRIMC English:
- Michael Pettis, The Volatility Machine: Emerging Economies and the Threat of Financial Collapse (2001) ISBN 0-19-514330-2
- What Are Emerging Markets? University of Iowa Center for International Finance and Development
- Emerging Markets Review Emerging Markets: A Review of Business and Legal Issues
- Antoine Van Agtmael speaker biography and session description for the 2009 World Business Forum where Agtmael leads a panel discussion on Emerging Markets
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