International Finance Corporations Emerging Countries

1923 Words Apr 20th, 2016 8 Pages
Emerging countries are the ones that change their status from less developed to developed countries by achieving a rise in GDP per capita and economic growth. This term is also stated as “convergence”. Due to a brief and precise history available in data bases, people argue about the limited data available on emerging markets.
Literature review:
Data since 1976 is available in the International Finance Corporations Emerging Data Base(EMBD). However, contrary to the complain about lack in availability of data, many databases have proved otherwise. Many markets such as Goetz man and Jorion 1999 have long histories. It is claimed that the market capitalization of Argentina was greater than that of UK. It has also been stated that for most part of the history, a superpower and influential country like the US was an emerging market once. Recession was struck in 1840s in Mississippi, Pennsylvania, Indiana, Arkansas and Michigan where these states had defaulted in their debt. Latin American countries had also faced debt issues during 1825(Chernow 1990).
Hence, the research paper revolves around the summary of emerging markets finance since the past 20 years. In order to achieve reliability and authenticity, it was made sure that the data, much care was taken in data collection. In addition to the existing 20 countries with the longest history in EMBD (since 1910); many new countries have been added and will be added in the future.
As new markets converge to emerging;…
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