I've always thought that a very positive development for third-world countries was when investors started to refer to them as "emerging markets" rather than "third-world countries," "poor countries," or the like. As best I can tell (which is to say, based on LEXIS research), the earliest mention of "emerging markets" came from the Latin America Commodities Report on December 10, 1976, when it said:
"If nothing else, the deal illustrated the kind of competition Argentina is likely to come up against this season in emerging markets like Egypt."The fact that the earliest mention I can find comes from an industry newsletter suggests that analysts were using the term already. But without any evidence that this term was being used before December 10, 1976, then I say, thank you Latin America Commodities Report! UPDATE: I knew I should have extended my search all the way back to the '60s! Now I see that the earliest mention came from Infovest21, another industry newsletter, on December 31, 1969, when it said:
"Hedge fund strategies currently in favor with European investors are at opposite ends of the return/risk spectrum, notably emerging markets are on one end and market neutral equity strategies at the other end."This is the earliest mention in the LEXIS database. So thank you, Infovest21!