The category of newly-industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and gakulkarni.info represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society. Apr 26, · Newly Industrialized Country - NIC: Newly industrialized country (NIC) is a term used by political scientists and economists to describe a country whose level of economic development ranks it.
In the lesser-developed and newly industrialized countries, labour-intensive industries have remained the most important. Medium-technology industries have been significant in many Asian economies regardless of their stage of development. Unequal regional development is a political problem in large countries such as China and India. May 31, · The term "newly industrialized country" (NIC) is an economic classification used by economists to represent economies that fall somewhere between a developed country and a developing gakulkarni.info countries falling under this categorization are characterized by rapid export-driven economic growth and a secular migration of workers from rural to urban areas.
Making it onto the list of developed countries requires moving beyond agriculture and extraction as the mainstay of any country's economy. Instead, advanced economies focus on the transformation and distribution of manufactured goods. This frees their economies from fighting against local weather. Aug 25, · The term "newly industrialized countries" originally applied to four emerging Asian countries: Hong Kong, Taiwan, South Korea, and Singapore. These four countries developed significantly faster than many other nearby nations, and in order to describe the distinction made by these governments, economists found they needed to develop a new term.
Newly Industrialized Countries (NIC) study guide by Autumnhutchison1 includes 23 questions covering vocabulary, terms and more. Quizlet flashcards, activities and games help you improve your grades. The sources of economic growth of the East Asian newly industrialized countries are analyzed empirically using the aggregate meta-production function framework. The sample consists of nine countries—the four East Asian newly industrialized countries (Hong Kong, Singapore, South Korea, and Taiwan) and the Group-of-Five industrialized countries Cited by:
Workplace Dispute Resolution in Industrialized Asian Countries. Blomgren Bingham, L., Woo Lee, S., & Kyung Chang, W. (). Participatory Governance in South Korea. 1 The Asian newly industrialized economies (NIE's), namely Hong Kong, South Korea, Singapore and Taiwan are attracting world-wide attention for five layers of reasons: There is quasi-unanimity in recognizing them as success stories in industrial development and economic gakulkarni.info by: 3.