Hungarian private equity market showed clear signs of maturity in 2004

Without wanting to state the blindingly obvious, emerging markets are by definition emerging. They do not possess the characteristics of mature and established markets. But the term 'emerging' tends to distort the extent to which individual markets have reached different points on the path to adulthood. Hungary is a clear example of a market that has perhaps been done an injustice by still being termed an 'emerging' market.