THEY lack the size of China or India. Many have to import natural resources. They have yet to be given a snappy label such as the BRICS. But Chile, Tunisia, Taiwan, Jordan and Kazakhstan have been identified as the possible rising stars in a report that looks at the ability of countries to grasp the opportunities of a rapidly changing global economy.

The study from consultants KPMG and the Overseas Development Institute thinktank looked at the long-term potential of 60 emerging market countries and found some surprising names in its roll call of those deemed most fit to face the future.

After using economic, governance and social measures, the report found to the researchers’ surprise that the five BRICS — Brazil, Russia, India, China and South Africa — were well down the league table.

Instead, it tended to be smaller countries that were seen as best geared up to change, seen as the key factor in determining the capacity for sustained, long-term growth.

Chile came 30 places ahead of its bigger South American neighbour Brazil, while South Africa, in 26th place, was a long way behind two North African nations — Tunisia (second) and Morocco (sixth).

China, now the world’s second biggest economy after three decades of rapid growth, could manage only 13th place in the list, while India was 23rd and Russia 51st.

The report looked at economic diversification, corruption, entrepreneurship, the relationship between business and government, the health of civil society and the investment climate as some of the indicators. It put Bolivia in last place, just ahead of Mozambique and Zimbabwe.

“You only need to look at the impact of recent food, fuel, and financial crises on countries around the world to see the importance of achieving a greater understanding of a country’s change readiness,” said Timothy Stiles, KPMG’s Global Head of International Development Assistance Services.

“The results of the index are surprising and, when verified, are expected to provide important new insight for policy development and donor action aimed at strengthening government and national capability.”

The authors of the study said it used evidence from a number of existing indicators with measures identified to capture specific elements of change readiness that were not currently being captured, including risk management capabilities, efforts to promote economic diversification, strong governance and social safety nets.

The top 15 countries in Change readiness index are Chile, Tunisia, Taiwan, Jordan, Kazakhstan, Morocco,  Malaysia, Uruguay, Turkey, Peru, Botswana, Costa Rica,China, Syria and Namibia.—The Guardian, London