Emerging Markets and Digital Economy: Building Trust in the Virtual World

Emerging Markets and Digital Economy: Building Trust in the Virtual World

Ali M. Al-Khouri (Emirates Identity Authority, UAE)
Copyright: © 2012 |Pages: 13
DOI: 10.4018/jide.2012040105
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Abstract

This article provides an overview of the literature surrounding emerging markets and the global paradigm shift taking place towards the development of digital economies. It provides a review of recent practices in the government sector. The article promotes the concept of developing a government based identity management infrastructure to support the progress en route for building the digital economy. In light of increasing information security threats in today’s interconnected world, the article emphasizes that only through identification and authentication capabilities, emerging markets can maintain sustainability.
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2. Emerging Markets

Emerging markets is a term referred to the bloc of countries that are setting a new world order in economics. These countries have demonstrated a high rate of industrialization and growth rates in GDP and prominent increase in their businesses; be it commercial or social. In general, about 40 nations across the globe make the cut. These are the countries that have a very high economic activity; akin to the advanced “developed” nations like the USA, UK, France, Germany etc, but not quite there. Nonetheless, they are considered to wield big economic power. These countries spread across three major continents as depicted in Figure 1. The different shades of colour represent the strength in economic activity. The red colour represents countries with larger economic growth and business activity, which are also defining the world trade today and influence global investment decisions.

Figure 1.

Emerging markets landscape

Among the emerging markets, some of the nations have higher sustained growth rates than the rest; and they construct what is referred to as the big emerging markets (BEM). Four nations are forming the foundation for emerging markets, namely; Brazil, Russia, India, and China also referred to as the BRIC of the emerging markets. These countries have demonstrated a substantial domestic consumption along with high exports, which altogether contributed to rapid core industrialization and the growth of the service industry. Countries of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa are considered to form the second bloc of emerging markets; also referred to as CIVETS.

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