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Emerging Markets Redefined: Comprehensive Measurement and Future Prospects

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  • Biliang Hu
  • Xing Tang
  • Lin Yin
  • Qian Liu

Abstract

The twenty-first century saw the emerging market countries rise as a cluster, becoming a major force driving the global economic growth and playing an increasingly important role in global governance. The existing definition of emerging market countries is vague and quite one-sided, far from capturing the reality. Based on historical experiences and actual circumstances of developing countries and the basic theories of development economics, this article builds a comprehensive index system comprising the five dimensions of nation-state size, institutional environment, economic growth, socio-economic structure, and development impetus to study 30 countries selected from among the 183 countries (regions) around the world. This provides a new analysis framework and theoretical support for in-depth study of the emerging markets.

Suggested Citation

  • Biliang Hu & Xing Tang & Lin Yin & Qian Liu, 2021. "Emerging Markets Redefined: Comprehensive Measurement and Future Prospects," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 13(2), pages 165-191, May.
    • Handle: RePEc:sae:emeeco:v:13:y:2021:i:2:p:165-191
    DOI: 10.1177/09749101211004355
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    References listed on IDEAS

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