Elements in the Economics of Emerging Markets
This forthcoming Elements series will use economic methods to examine the promises and realities of emerging markets from both theoretical and empirical perspectives. Emerging markets are characterized by often fast economic growth, booming consumer markets, abundant low-cost labor, and a rising middle class. In addition, emerging markets are undergoing tremendous changes and will play a pivotal role in industrialization, modernization, urbanization, and advancements in emerging technologies. However, the landscape is fraught with complex social, economic, and financial systemic risks, as well as an ongoing slowdown across some major emerging markets.