Newly Industrialized Country - NIC

AAA

DEFINITION of 'Newly Industrialized Country - NIC'

A term used by political scientists and economists to describe a country whose level of economic development ranks it somewhere between the developing and first-world classifications. These countries have moved away from an agriculture-based economy and into a more industrialized, urban economy.

Also known as "newly industrializing economies" or "advanced developing countries."

INVESTOPEDIA EXPLAINS 'Newly Industrialized Country - NIC'

In the 1970s and 1980s, examples of newly industrialized countries included Hong Kong, South Korea, Singapore and Taiwan. Examples in the late 2000s included South Africa, Mexico, Brazil, China, India, Malaysia, the Philippines, Thailand and Turkey. Economists and political scientists sometimes disagree over the classification of these countries.

RELATED TERMS
  1. Great Leap Forward

    An economic and social campaign that intended to change China ...
  2. World Trade Organization - WTO

    An international organization dealing with the global rules of ...
  3. Emerging Market Economy

    A nation's economy that is progressing toward becoming advanced, ...
  4. The World Bank

    An international organization dedicated to providing financing, ...
  5. Lesser-Developed Country - LDC

    A country that is considered lacking in terms of its economy, ...
  6. Frontier Markets

    Less advanced capital markets from the developing world. Frontier ...
Related Articles
  1. The New World Of Emerging Market Currencies
    Forex Education

    The New World Of Emerging Market Currencies

  2. What Is An Emerging Market Economy?
    Economics

    What Is An Emerging Market Economy?

  3. Forging Frontier Markets
    Economics

    Forging Frontier Markets

  4. Sovereign Wealth Funds - Friend Or Foe?
    Investing Basics

    Sovereign Wealth Funds - Friend Or Foe?

comments powered by Disqus
Hot Definitions
  1. 80-10-10 Mortgage

    A mortgage transaction in which a first and second mortgage are simultaneously originated. The first position lien has an ...
  2. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  3. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  4. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  5. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center