Newly Industrializing Economies


Also found in: Acronyms.

Newly Industrializing Economies

Economies with a lower GDP relative to the developed world but still with healthy levels of GDP growth. Newly industrializing economies are characterized by a great deal of industry and/or international trade. Newly industrializing economies have relatively (though perhaps not entirely) stable governments. Some newly industrializing economies have a great deal of government intervention while others have virtually none. Examples of newly industrializing economies include India and Brazil. See also: International development.
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Noting exceptions, the Report said, "A sharp contraction in output was recorded for Mongolia as a consequence of its radical transformation, while the Philippines experienced negative growth as a series of natural disasters exacerbated the economy's structural weakness and debt overhang." The Report recorded the economic performances of the Bank's DMCs during 1991 as follows:- [right arrow] Newly Industrializing Economies: The NIEs as a group grew by 7.3 per cent in 1991 again st 6.8 per cent the previous year.
The newly industrializing economies of Asia (NIEs) continued to grow rapidly.
Hourly compensation costs in the newly industrializing economies of Asia (Hong Kong, Korea, Singapore, and Taiwan) rose to 26 percent of U.S.
Growth of the newly industrializing economies in Asia has slowed recently, though the rates remain relatively high.
Measures are computed for all foreign countries and for selected country groups, such as Europe and the Asian newly industrializing economies.
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