I. Introduction 1 The Asian newly industrialized economies (NIE's), namely Hong Kong, South Korea, Singapore and Taiwan are attracting world-wide attention for five layers of reasons: There is quasi-unanimity in recognizing them as success stories in industrial development and economic growth.
- Michèle Schmiegelow
Jun 01, 1994 · ECONOMIC GROWTH OF THE FOUR ANIEs By 1990 the four Asian Newly Industrialized Economies (ANIEs), Hong Kong, Singapore, Taiwan and South Korea, also commonly known as The Four Little Dragons, have gone through three decades of continuous high growth.
- Pak-Wai Liu
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on major Asia-Pacifi c issues relating to population, economic and trade poli cies, resources and development, the environment, and culture and commu nication. Since 1960, more than 25,000 men and women from the region have participated in the Center's cooperative programs. Principal funding for the Center comes fro U.Sm th Congress.e . Sup
ASIA-PACIFIC POPULATION RESEARC REPORTHS PROGRAM ON POPULATION •^^^^•^•^^•^^H Number 3 March 1995 How Japan and the newly industrialized economies of Asia are responding to labo scarcitr y John G. Bauer John G. Bauer, an economist, is a senior lecturer at the School of Accountancy and Business, Nanyang Technological University, Singapore.
Features of economic development of the countries of South-East Asia in 80-90 16. Chapter 3. The Asian financial crisis of 29. 3.8 the Impact of the financialcrisis the newly industrializing countries in the global economy 52. Chapter 4. Comparative characteristics of NIS in South-East Asia and Latin America 57.
- What Is A Newly Industrialized country?
- Understanding Newly Industrialized Country
- Transition Signs from Third World to Newly Industrialized Country
- Relations Between Nics and Highly Developed Nations
- Real-World Example
A newly industrialized country (NIC) is a term used by political scientists and economiststo describe a country whose level of economic development ranks it somewhere between developing and highly developed classifications. These countries have moved away from an agriculture-based economy and into a more industrialized, urban economy. Experts also know them as "newly industrializing economies" or "advanced developing countries."
In the 1970s and 1980s, examples of newly industrialized countries included Hong Kong, South Korea, Singapore, and Taiwan. Examples in the late 2000s included South Africa, Mexico, Brazil, China, India, Malaysia, the Philippines, Thailand, and Turkey. Economists and political scientists sometimes disagree over the classification of these countries. A NIC is part of a socioeconomicclass that has recently made advances in industrialization. Greater economic stability within the nation accompanies this economic shift although this process of stabilization may be incomplete or in a stage of infancy.
A primary indication of a country's transition to a NIC is substantial growth in the gross domestic product(GDP), even if it falls behind developed nations. Often, increases in average income and the standard of living are markers of the transition from a developing country to a NIC. Government structures are usually more stable with lower levels of corruption and less violent shifts of power between officials. Though the changes are significant, outpacing those of similar developing nations, they often lack the standards set by most developed countries.
Developed countries may see opportunities in the growing stability of a newly industrialized country. These opportunities could lead to additional outsourcingby companies to facilities within NICs. These movements may lower labor costs for outsourcing companies with less risk compared to outsourcing to less stable nations. While this can increase the strength of the labor force within the NIC, complications can occur with the increased demand because the government may not have fully established laws and regulations in surrounding industries.
Since there is no exact qualification or definition for a NIC, the list of existing NICs is open to some debate. Based on the shift among economies from agricultural development to more industrial pursuits and recent improvements in average standards of living, economies that experts typically include as NICs are China (specifically Hong Kong), India, Singapore, Taiwan, and Turkey. Others may include Brazil, Mexico, South Africa, and Thailand. In a 2014 United Nations report called the World Economic Situations and Prospects, states that all nations are categorized into one of three classifications for analytical reasons. These categories are developed economies, economies in transition, and developing economies.
By far the most important source of economic growth of the East Asian newly industrialized countries is capital accumulation, accounting for between 48 and 72% of their economic growth, in contrast...
Newly industrialized countries can bring about an increase of stabilization in a country's social and economic status, allowing the people living in these nations to begin to experience better living conditions and better lifestyles. Another characteristic that appears in newly industrialized countries is the further development in government ...
Newly industrialized country (NIC), country whose national economy has transitioned from being primarily based in agriculture to being primarily based in goods-producing industries, such as manufacturing, construction, and mining, during the late 20th and early 21st centuries.