Ireland has been listed number one in a survey of 70 "emerging economies" based on overall attractiveness to outside investors and ability to develop in a balanced way.

The top 10 emerging countries, assessed on the basis of providing a stable and productive environment for global investors, are given as Ireland, Taiwan, Israel, Czech Republic, Hungary, South Korea, Malaysia, Estonia, Slovenia and Chile, according to the Wealth of Nations Triangle Index.

At the bottom of the index - compiled by the World Times Money Management Institute in Boston with a grant from the Better World Fund of the United Nations Foundation - are Algeria, Pakistan, Bangladesh, Kenya, Tanzania, Cameroon, Cote d'Ivoire, Nigeria, Iran and lastly Zimbabwe. China and Russia come 46th and 47th respectively.

Ireland "has become a new role model for much of the developing world", according to WorldPaper, which is published by the World Times Money Management Institute. It said it was showcased at an international inquiry held recently by the seven-language publication in Cartagena, Colombia, as the "new Chile" or the "New Malaysia".

The list is compiled by allocating points for economic environment, information exchange and social environment.

It does not include "developed" countries and the Republic is the only EU member considered.

However, Ireland's score of 684 for economic environment was ahead of the 645 average rating for the five developed countries picked for comparison: the US, Spain, the Netherlands, Japan and Singapore.