Newly Industrialized Countries

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Newly Industrialized Countries (NICs)

NIC's are countries with high-growth industrial economies, such as Hong Kong and Malaysia.

Newly Industrialized Countries

Countries with a lower GDP relative to the developed world but with a higher level of GDP growth. Newly industrialized countries are characterized by a great deal industry and/or international trade. Newly industrialized countries have relatively (though not entirely) stable governments. Some newly industrialized countries have a great deal of government intervention while others have a lesser amount. Examples of newly industrialized countries include Mexico and China. See also: International development.
References in periodicals archive ?
It was compensated in the newly industrializing countries of Asia by a (indirect) subsidy to additional export workers paid for by the rest of the local economy.
Third, the Fund's general policy recommendations have not generated sufficient benefits for the developing and newly industrializing countries concerned and have frequently backfired.
This suggests that in newly industrializing countries, great opportunities may remain in infrastructure and basic industries.
The first-generation theory, espoused by neoclassical economists and the World Bank, attributes East Asia's dynamic development to the "magic of the market"--laissez faire and an open economy (Bela Balassa, The Newly Industrializing Countries in the World Economy, 1981).
Preparations for war continue apace in the Persian Gulf and South Asia, and military expenditures are still growing among the newly industrializing countries of the Far East.
Even in this post-Communist world with countries in transition (CITs) and the newly industrializing countries (NICs) hell-bent on fast-growth capitalism, current data and our forecasts suggest that there is now, and there is there likely to continue to be, adequate liquidity to finance both growing trade and investment.
It also could have assessed the role that foreign aid played in the economic success stories of the East Asian tigers (Singapore, South Korea, Taiwan, and Hong Kong) as well as newly industrializing countries such as Chile, Malaysia, Indonesia, and Thailand.
Although because of lower labour costs, lax environmental regulations, and tax concessions, it may appear advantageous for developed country firms to implement manufacturing facilities in newly industrializing countries, negative attitudes towards a country of origin can adversely affect the perceived quality and purchase value of products made there.
This volume analyzes the phenomenal growth of the last few decades in the newly industrializing countries (NICs) in East Asia.
The second goal was to undercut the growing economic power of the Newly Industrializing Countries (NICs) of Asia, especially South Korea and Taiwan.
In sum, notwithstanding its limitations--including the omission of two tables from Levin's article-this book is a valuable source of information and analysis, especially for academics and advanced students of labor economics and labor relations interested in developing and newly industrializing countries.
The book examines the politics of industrialization in newly industrializing countries.