A frontier market is too small to be considered an emerging market but is more developed than a least developing country.
Markets (in order of economic development) are often classified as:
- Least Developing.
Different organisations produce slightly different lists of countries within each of these categories.
Examples of frontier markets in MSCI's classification include - in alphabetical order - Bahrain, Bangladesh, Croatia, Estonia and Iceland.
- Developed market
- Emerging market
- International Bank for Reconstruction and Development
- Least developed countries (LDCs)
- United Nations Conference on Trade and Development