newly industrializing countries


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newly industrializing countries

a number of countries in southern Europe, Asia and Latin America which have developed industrial manufacturing capacity since the 1960s. The countries most commonly cited as belonging to this category are, in Europe, Spain, Portugal and Greece; in Asia, Hong Kong, Singapore, Taiwan and South Korea; and in Latin America, Argentina, Brazil and Mexico. However, these do not have common experiences. The Asian countries have had the most independent industrialization with the emergence of indigenous corporations and strong state support leading to high levels of exports of manufactured goods. While they incurred INTERNATIONAL DEBT in this process, their export earnings are high enough to enable them to pay this, and in the 1980s their industrialization continued. The Latin American countries had higher levels of foreign investment, less successful state support and lower levels of exports of manufactured goods. The rise of international debt led to problems of payment and their industrialization declined in the 1980s as they reverted to exports of non-manufactured goods in attempts to earn foreign currency. Thus the Latin American countries have been described as having a pattern of DEPENDENT INDUSTRIALIZATION. Harris (1987) provides a good overview. see also IMPORT SUBSTITUTION.
References in periodicals archive ?
Europe and socialist countries, led by the Soviet Union, also industrialized, followed by Japan, and later the newly industrializing countries of South Korea, Taiwan, Hongkong and Singapore.
This increase in GDP over 12 years compares favourably to Asia: the average level (2000=100) in the newly industrialized countries of Asia in 2012 was 248, with the second tier group of newly industrializing countries at 386, only slightly higher than most CEECs.
The need for investments and reforms continues to be enormous, both in the large newly industrializing countries as well as in Asia's poorer countries.
The State, Nations and Society, Political Economy, Democratic Regimes, Nondemocratic Regimes, Political Violence, Advanced Democracies, Communism and Postcommunism, Less-Developed and Newly Industrializing Countries, and Globalization.
At the same time, there is large variation within this North-South framework: as the transnational economic complex extends to newly industrializing countries, these countries draw nearer to older industrial economies in their consumption levels; the industrialized nations of the United States and Canada consume nearly four times the amount of fossil fuels as countries like Sweden and Malta; and within nations there is a spectrum of resource use between citizens and regions.
One business symposium, for example, will look at the newly industrializing countries of Eastern Europe: the VDW reports that exports to Russia rose 57% last year, those to Slovakia by 51%, and to Romania by 40%.
Since a radical restructuring of the Fund--for instance, a considerable strengthening of the voting rights of developing and newly industrializing countries or fundamental changes in the provision of liquidity--is not forthcoming, East Asia and Latin America, each in a very different fashion, are currently developing methods of emancipating themselves from the IMF.
With the rapid and successful economic growth in the newly industrializing countries (NICs) of East Asia, the rising middle and upper classes have increasingly recruited hired help from Southeast Asia.
For example, the increasing international interactions served as a favorable opportunity for the Newly Industrializing Countries (NICs) in the 1960s, while the expanded economic integrations were blamed for the Asian financial crisis in 1997.
Many newly industrializing countries in Southeast Asia and Latin America are distancing themselves from ODA, as private sector capital plays an ever-greater role in their development.
While they intensify their investments in NET and the Newly Industrializing Countries show remarkable ability to follow suit, African nations are not involved and seem to be slipping backwards in terms of their ability to cope with industry and technology.
Foreign workers have flowed in recent years into the newly industrializing countries in East and Southeast Asia.