Advanced stage emerging economies top the list and generally have many of the same characteristics as the rich, developed economies. Bringing up the bottom are the Dormant economies, which currently show no signs or any hope of economic vitality or dynamism. Early-stage and Intermediate-stage emerging economies rank somewhere in the middle and show some promising signs of emergence despite still possessing many economic, political and social obstacles.
Highlights from the 2011 index include:
Of the 10 advanced emerging economies, six are from Eastern Europe and four from Latin America. The intermediate and early-stage emerging market economies (EMEs) have large contingents of Asian, South American, and African countries.
Of all the regions Latin America fared the best in 2011 seeing 16 of its emerging market economies rise in ranking and only 6 that fell. Growth for the region as whole in 2011 was estimated at 5.5%, and the region outpaced the EM average across all five major categories.
The Middle East- Northern Africa region fared the worst, with 9 countries slipping in their rankings and only 2 climbing. It performed below the EM average in four of the major categories. Commodity price movements and social unrest continue to dominate the region’s prospects.
The BRICs maintained their positions of strength and influence. China was again ranked first in the Intermediate Stage category, with Brazil and Russia not far behind. India also climbed three spots to claim the number two ranking in the Early Stage category.
Chile overtook Poland to become the number one ranked emerging economy in 2011, largely the result of its strong institutions, sound fiscal policy, and well managed sovereign wealth fund that has allowed Chile to reap the benefits of its commodity endowments without suffering the costs of resource overdependence.
Despite the growing presence of international troops, Somalia beat out Afghanistan to retake its spot as The Worst Place on Earth (dead last ranking) for 2011.