What is the emerging market economy

According to Investopedia, Antoine W. Van Agtmael of International Finance Corporation of the World Bank first mentioned the term emerging market economy (EME). Since then an EME has become defined as an economy with low to middle per capital income. About 20% of global economies are EMEs and they comprise about 80% of the world's population. The word 'emerging' relates to fact that EMEs have started economic development and reform programmes that involve opening up their markets. EMEs have normally benefited in recent decades from rapid rates of economic growth. In some nations their increased integration into globalised world economy has produced this result. Though the success of many EMEs has arguably been the result of a considerable amount of intervention by their governments (mostly in the form of state capitalism) and protectionism - the latter often hidden. The so-called BRIC countries (Brazil, Russia, India and China) to which South Africa is sometimes added to become BRICS are the most well-known EMEs.