Emerging Economies: Comparative Analysis of MIST and IBSA Countries

Gonca Oguz Gok () and Mehmet Sahin Gok ()
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Gonca Oguz Gok: Marmara University, Turkey
Mehmet Sahin Gok: Gebze Technical University, Turkey

Eurasian Journal of Social Sciences, 2016, vol. 4, issue 2, 1-13

Abstract: Post Second World War liberal economic order and its institutions have been challenged with the rapidly growing powerful economies of some Asian and Latin American countries in the last decade. Yet, there is ambiguity in international political economy field with regard to conceptualizing and categorizing these emerging economies. This study mainly aims to ravel out this obstacle by offering a new quantitative benchmarking framework. In other words, this study proposes a new evaluation criteria set for assessing emerging economies with combining testable domestic and systematic factors. Accordingly, this study presents the cross-country comparison by using quantitative benchmarking analysis between IBSA -India, Brazil and South Africa- and MIST -Mexico, Indonesia, South Korea and Turkey- countries over the period 2008- 2012. We compare these countries based on the criteria of economic growth, human development index, foreign direct investment, and official development assistance. This study also aims to evaluate the group performance of these newly emerging economies- namely the rise of IBSA and MIST countries-in a comparative perspective. In conclusion, the performance of these countries -from both group-of-country and individual-country perspectives- are discussed in light of the results.

Keywords: Emerging Economies; IBSA; MIST; Benchmarking; Quantitative Analysis (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ejn:ejssjr:v:4:y:2016:i:2:p:1-13

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