An emerging market is a country that has some characteristics of a developed market, but does not satisfy standards to be termed a developed market.
This includes countries that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging".
The economies of China and India are considered to be the largest emerging markets. The other 2 of the 4 largest emerging markets are Russia and Brazil, together they make up the BRIC countries ( Brazil, Russia, India, China ). There are other emerging markets and other acryonyms that group them together such as the MIST countries ( Mexico, Indonesia, South Africa, Turkey ).
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