What is the difference between developing, emerging, and developed or advanced economies

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Developing Economies, Emerging Economies, and Advanced Economies

The difference between advanced and emerging economies is quite distinct. However, the differences between emerging and developing economies are still vague. Here are  three broad categories for the economies of the world based on their level of economic development:

  • Developing economies – those with the lowest economic development and a low HDI
  • Emerging economies – those with accelerating economic growth and development with an improving HDI
  • Advanced economies – those with high economic development and a high HDI
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