Newly Industrialized Country - NIC

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. Interested In Latin America? Eye These ...
    Mutual Funds & ETFs

    Interested In Latin America? Eye These ...

Hot Definitions
  1. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  2. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  3. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  4. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  5. Debit Spread

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

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...