Emerging Markets: The Markets of the Future

Gastón Fornés and Alan Butt Philip
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Gastón Fornés: University of Bristol
Alan Butt Philip: University of Bath

Chapter 2 in The China-Latin America Axis, 2012, pp 5-26 from Palgrave Macmillan

Abstract: Abstract Emerging markets have been appearing increasingly in the media, specialised literature and MNEs annual reports in the last 15 to 20 years. During this period, acronyms like BRIC (Brazil, Russia, India, China), BRICET (BRIC + Eastern Europe + Turkey), BRICS (BRIC + South Africa), VISTA (Vietnam, Indonesia, South Africa, Turkey, Argentina), BRICM (BRIC + Mexico), BRICK (BRIC + South Korea), CIVIETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa), or Next Eleven (Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey and Vietnam) were coined and are now common in the business vocabulary. Also during this period, ten transition economies from Eastern Europe joined the European Union (EU) and from them five entered the Eurozone. Emerging markets have also increased their weight in political terms in recent years as the Group of Twenty (G20)2 has replaced the Group of Eight (G8) to ‘become the new permanent council for international economic cooperation’ (CNN.com, 2009). However, along with the many acronyms, there are various definitions of emerging markets as well as different lists of these markets.

Keywords: European Union; Foreign Asset; Outward Foreign Direct Investment; International Financial Corporation; Institutional Void (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230363410_2

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