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In recent decades, emerging economies have moved from the periphery to the center of global economic discussions, contributing significantly to worldwide financial development and trade. These nations, once overshadowed by established economies, now drive dynamic change across industries, spurred by rapid advancements in technology, innovation, and financial services. From Asia to Latin America, emerging markets face unique challenges and seize distinct opportunities as they redefine traditional business models, adapt to digital transformations, and leverage sustainable practices. With each passing year, their impact on global economic growth and integration becomes increasingly profound.
This edited collection provides a timely, comprehensive exploration of the forces shaping emerging economies today. Beginning with an overview of their significance on the global stage, authors examine the role of financial development, technological innovation, and government policy in driving economic growth. Readers will find in-depth analyses on the fintech revolution, the reshaping of industries through digital transformation, and the growing importance of green innovation. Case studies illuminate successful business models and entrepreneurial ventures, while discussions on investment trends, trade dynamics, and regional alliances offer a closer look at the mechanisms underpinning these economies. The final chapters provide perspectives on challenges such as market volatility and workforce development, as well as insights into strategic planning for navigating global economic shifts.
Essential for academics, policymakers, and business leaders, this edited collection offers valuable guidance and insights for anyone looking to understand and leverage the transformative potential of emerging economies.
Shakeb Akhtar is currently Lecturer in University of Technology and Applied Sciences, Ibra, Oman and Research Fellow in Department of Business and Communications, INTI International University, Malaysia.
Shujaat Naeem Azmi is an Assistant Professor in the Department of Economics at Ala-Too International University, Bishkek, Kyrgyzstan.
Mahfooz Alam is an accomplished Assistant Professor of Finance in University of the People, USA.
Naseema N. is currently Lecturer in University of Technology and Applied Sciences, Nizwa, Oman.
Introduction: Rise of the Emerging Economies; Shakeb Akhtar, Shujaat Naeem Azmi, Mahfooz Alam, and Naseema N.
Part I. Foundations and Conceptual Framework
Chapter 1. Introduction to Emerging Economies; Alisha Mahajan, Dhiresh Kulshrestha, and Naseema N.
Chapter 2. Driving Growth: How Financial Development and Global Innovation Shaping Emerging Economies?; Şenol Doğan and Dilber Doğan
Chapter 3. Can Developing Economies Avoid the Middle-Income Trap?; Nisha Prakash, Sangeeta Mehrolia, Yogesh L, and Subburaj Alagarsamy
Part II. Financial Development and Innovation
Chapter 4. The New World in FinTech: Reshaping Financial Markets through AI Innovations; Lider Yılmaz, Nasser Chaabo, and Mariam Roumieh
Chapter 5. From Disruption to Opportunity: Innovating Business Models for Emerging Markets; Shivangi Kashyap, Parvez Alam Khan, and Mohammed Afzal Biyabani
Chapter 6. Insurance Inclusion, Digital Literacy, and InsurTech in Emerging Economies: The Case of Morocco; Anas Limam and Mustapha Ziky
Chapter 7. Digital Technologies in Microfinance: Benefits and Limitations; Osho Ademola Joel, Choromides Constantinos, and Meshioye Michael Olaitan
Chapter 8. Capital Structure and Firm Performance: Does Accounting Conservatism Matter?; Ilhan Dalci and Hasan Ozyapici
Chapter 9. Financial Development, Financial Innovation and Trade: Evidence of Risks and Challenges from Emerging Markets; Yaw Junior Adu-Ampomah and Vanessa S. Tchamyou
Part III. Trade, Exchange Rates, and Investment Dynamics
Chapter 10. Multifaceted Determinants of Real Effective Exchange Rates in BRICS Economies: Implications for Trade Dynamics; Dixita Barai, Gouri Prava Samal, Kerem Karabulut, and Dhruva Teja Nandipati
Chapter 11. Impact of Chinese Foreign Direct Investment on the Achievement of Sustainable Development Goals in ASEAN Countries; Wang Yiye, Md Imran Hossain, and Md Aslam Mia
Chapter 12. The Impact of the International North-South Transport Corridor (INSTC) on BRICS’ Path to De-dollarization and an Optimal Currency Area; Kashif Hasan Khan, Iman Bastanifar, and Roghayeh Nazari
Part IV. Sustainability, Green Finance, and Climate Change
Chapter 13. Technological Innovation, Financial Development and Climate Change: The Case of Emerging Economies; Najeh Aissaoui and Deepak Prajapati
Chapter 14. Sustainable Development and Green Innovation in Emerging Economies; Michael Oyedele Oyenuga, Stanley Chinonso Nnedu, and Solomon Jeresa
Chapter 15. Towards Carbon Neutrality: The Role of Renewable Energy, Financial Development and National Income for E7 Countries; Mandar Bhatt, Priyanshu Chavda, Haseeb Ur Rahman, and Abdul Wajid
Chapter 16. Green Innovation as a Catalyst for Sustainable Development: Case Studies and Policy Insights; K. Balaji, Shakeb Akhtar, and Mahfooz Alam
Part V. Innovation Ecosystems and Future Pathways
Chapter 17. The Role of Innovation Hubs as Catalysts for Startup Growth in Emerging Economies; Hira Abdul Rawoof, Priscilla Bahaw, and Maryam Masud