"In 1999 Dr. Vladimir Kkvint, the well-known economist and strategist, defined an emerging market as a market “transitioning from a dictatorship to a free-market oriented economy, with increasing economic freedom, gradual integration with the global marketplace and with other members of the global emerging market, an expanding middle class, improving standards of living, social stability, and tolerance, as well as an increase in cooperation with multilateral institutions.”
Researchers in the emerging markets field, such as Kvint, Hernando de Soto, Jeffrey Frankel, Martin Feldstein, among others from Harvard University, and Rrobert J Shiller and Zhiwu Chen, among others from Yale University…"
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