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The Emerging Markets Handbook: An analysis of the investment potential in 18 key emerging market economies by Pran Tiku

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Chapter 1: What is an emerging market?

The term emerging market conjures up an array of images. Faraway countries. People toiling away in factories and fields. Densely-packed urban centres teeming with millions. Chaotic marketplaces with hawkers and peddlers. Children in uniform. People riding bicycles, pulling rickshaws and driving trucks on dusty, impassable roads.

These are the places that host more than three-fourths of the world’s population, most of the world’s land mass, and half of the world’s energy consumption. Emerging markets and the countries that contain them span continents.

Some emerging market countries are democratic in the Western sense of the word, with enshrined freedoms. Some are struggling for freedom. Others have carved ...

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