Before a country is known as an "Emerging Market", they develop as a "Frontier Economy" or "Frontier Market." Wikipedia defines a frontier market as a market that is a type of developing country which is more developed than the least developing countries, but too small to be generally considered an emerging market. It is another way to describe a small economy by modern terms, that is growing more rapidly than the global economy and is likely to do so for years to come. The name is an economic term which was coined by International Finance Corporation’s Farida Khambata in 1992.
