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Emerging Markets: The Markets of the Future

In: The China-Latin America Axis

Author

Listed:
  • Gastón Fornés

    (University of Bristol
    ESIC Business & Marketing School)

  • Alan Butt Philip

    (University of Bath)

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.

Suggested Citation

  • Gastón Fornés & Alan Butt Philip, 2012. "Emerging Markets: The Markets of the Future," Palgrave Macmillan Books, in: The China-Latin America Axis, chapter 2, pages 5-26, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36341-0_2
    DOI: 10.1057/9780230363410_2
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    Cited by:

    1. Guillermo Cardoza & Gaston Fornes & Ping Li & Ning Xu & Song Xu, 2015. "China goes global: public policies' influence on small- and medium-sized enterprises' international expansion," Asia Pacific Business Review, Taylor & Francis Journals, vol. 21(2), pages 188-210, April.
    2. Cardoza, Guillermo & Fornes, Gaston & Farber, Vanina & Gonzalez Duarte, Roberto & Ruiz Gutierrez, Jaime, 2016. "Barriers and public policies affecting the international expansion of Latin American SMEs: Evidence from Brazil, Colombia, and Peru," Journal of Business Research, Elsevier, vol. 69(6), pages 2030-2039.

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