HOW CAN WE LEARN FROM THE NON-TRADITIONAL GROWTH OF EMERGING MARKETS?
Create a model which can be used elsewhere.
The International Development Institute (IDI) at King’s is examining today’s emerging economies, exploring the sources of their success and the major development issues that they continue to face. The institute is particularly focused on understanding how emerging economies are confronting the challenges of promoting growth and broadening their societies' inclusion in the benefits of growth. The fast-growing and changing societies in Africa, Asia, Latin America and the Middle East raise many questions about national development and promoting sustainable and equitable growth. Their economic success may offer vital lessons for the developed West as well as many of the world’s poorest nations.
The IDI is one of the King’s Global Institutes, which includes Brazil, Russia, India and China. These institutes seek to understand the dynamics of and opportunities for these exciting and fast moving economies as they help shape the globalised world of the 21st century.
The emphasis on emerging economies differentiates King’s IDI from other development programmes in the UK where the focus has traditionally been poorer developing countries. The striking change in the developing world is the emergence of middle-income countries where policy innovation and experimentation have helped produce a set of countries that are driving the process of global economic change. These countries are at the heart of the IDI’s research.
The IDI has three main areas of emphasis:
- It seeks to understand the basis of successful growth and the extent to which emerging market performance points to a new model of development.
- It explores the challenges facing emerging economies, including poverty, inequality, pollution, natural resource management, industrialization, innovation, and critical social policies such as health, education and pensions.
- It seeks to draw lessons from the success of the high performing developing countries for poorer nations. One of its key activities is to look at best and worst practice among emerging economies across diverse policy areas. It seeks to understand how successful policy innovations may be replicated in new settings, as well as the role of leadership in creating and implementing policy solutions.
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