Based on analysis of economic growth indicators for 1989-2014, this article distinguishes the "emerging markets" of … Central and Eastern Europe (with Russia included), from the other economies that fall in the broad ‘emerging markets’ category … "emerging economies", but not necessarily the associated economic outcomes. What characterizes "emerging economies" is that they …

investment, labor market reforms, globalization, and governance quality in shaping equitable income distributions. Findings … role of the informal economy in influencing income distribution dynamics. …In recent years, the issue of income inequality has ascended to the forefront of national and international agendas …