The term emerging markets was coined in 1981 by Antoine van Agtmael, the then director of the Capital Markets Department of the International Finance Corporation (IFC), the private sector development arm of the World Bank Group.
An emerging market, by definition, is a country that attempts to transform its economy by improving its operation to the levels of the world's more advanced nations.
In other words, emerging markets are financial markets of developing countries. They allow economies to become more competitive and more open to international investors. They have implemented liberal economic policies and practices such as adopting international financial standards abroad-based discriminatory controls for nondomiciled investors.
They are economies that present high risk but also potentially high rates of growth; they have low per capita Gross Domestic Product. Emerging markets are the result of the financial support programs of international institutions with the primary goal of creating stronger economies.
What are emerging markets?
Unveiling the Manifest Function: Understanding Its Significance in Social
Dynamics
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Manifest function, at its core, elucidates the observable outcomes of
societal behaviors. It serves as a lens through which the effects or
results of actio...