|By Gale Staff|
How can you give students a better view of the global economy? Ensure they’re connected to resources that cover both mature and emerging markets around the world.
The recently published second edition of the Encyclopedia of Emerging Markets provides profiles, maps, and macroeconomic data on the world’s currently identified emerging markets.
What is an emerging market? According to the preface in the Encyclopedia of Emerging Markets, “A country ‘emerges’ when its largely rural, agrarian society transforms into a more urban, industrialized one.” The second edition of the Encyclopedia of Emerging Markets profiles 37 countries that are currently identified as emerging markets, including Brazil, India, and Saudi Arabia. Each country overview is followed by one to three essays that examine pivotal industries affecting these countries’ economies, such as automotive parts manufacturing, tourism, or information and communications technology.
Encourage your students to study emerging markets to develop a more complete picture of the global economy. With the Encyclopedia of Emerging Markets, researchers can examine the history and development of emerging markets, analyze trends and long-term outlooks, and understand how specific industries have made significant impacts on various nations.
How Do Emerging Markets Differ from Mature Markets?
Mature markets, also known as developed markets, are found in countries like the United States, the United Kingdom, Japan, and Spain. These markets have the most-advanced economies, with more stability compared to emerging markets.
According to the Encyclopedia of Emerging Markets, “While mature, developed national economies usually boast a greater gross domestic product (GDP) than nascent ones, emerging economies often enjoy a vibrancy and vigor that makes them interesting to study. Boom and bust cycles are typically more pronounced in an emerging market, but this volatility makes the tale of a developing economy more interesting, not less.”
Studying emerging markets allows undergraduate business students and researchers to find relevant and current examples of many economic events that aren’t prevalent in mature economies.
Emerging Markets in Context: Romania
Bolstered by its automotive and automotive parts manufacturing industry, Romania has established itself as an emerging market only within the past few years. In the Encyclopedia of Emerging Markets, researchers can explore how Romania’s transition to market capitalism was affected by the country’s culture, politics, geography, and more.
Here are some interesting facts about Romania:
- Romania had 11 prime ministers from 2015 to 2021, even though a prime minister’s term is four years.
- A total of 15.7 percent of industrial workers in Romania were employed in the automotive sector, the highest percentage among European Union nations.
- The largest automaker in Romania is Dacia, which produced 320,457 vehicles in 2016. Ford was a distant second.
- The European community is expected to prohibit the production of gasoline-fueled vehicles after 2035.
What’s the Value of Students Studying Emerging Markets?
From the auto industry in Romania to textiles and clothing in Bangladesh, the Encyclopedia of Emerging Markets brings students in business, marketing, and economics insight into the ups and downs of emerging markets worldwide.
Designed for high school and college students, the essays in the Encyclopedia of Emerging Markets combine important economic data with thorough explanations for a more accessible view of emerging markets. Each article explores topics like how a country’s history and culture have affected the growth of its economy, to what degree the COVID-19 pandemic upended a particular industry, and how the move toward a greener and cleaner future is forcing businesses—and entire markets—to adapt.
The Encyclopedia of Emerging Markets organizes economic information into an approachable format that’s perfect for undergraduate students. Encourage researchers to use it to analyze how emerging markets developed over time, compare the impact of various industries on markets, and forecast long-term outlooks for today’s emerging markets.