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Kenya is considered to be an emerging economy because it has a sustainable per capita income growth. Several factors indicate that the growth is sustainable. Kenya has managed to achieve an impressive Gross Domestic Product (GDP) growth rate of 4–6 percent per annum. In spite of initial resistance to economic liberalization, the economy has been growing steadily. Initially, growth was achieved through improvements in the policy environment and through political liberalization that brought about multiparty politics.

To test the premise, they examine the effects of the emerging market of United Arab Emirates on lifestyle as evidenced by creativity in advertisements in that country, and measure the extent to which creative directors are successful in retaining creativity while transforming advertisements from the Western market to the emerging market. It is an important issue for international managers because now they have to respect the culture and traditional values of the emerging market. Straight translation of advertisements from English to Arabic is neither effective nor sufficient.

Second, the economy should have reasonably efficient and competitive domestic markets. Third, the level of human resource development, quality of infrastructure and institutions, and institutional frameworks would be consistent with an economy set for rapid expansion. Fourth, an economy must have substantial governance, political accommodation, and maturity in a democratic sense. Finally, an emerging economy is expected to become gradually less dependent on aid, thereby relying more on domestic savings and foreign private inflows for investment (Bigsten and Kayizzi-Mugerwa, 2001).

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A Critical Perspective of ISCT


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