The Hong Kong University of Science and Technology (HKUST) received a generous sponsorship from Ernst & Young for the establishment of the Institute for Emerging Market Studies (IEMS), which seeks to provide thought leadership on issues facing businesses and policy makers in emerging markets. The launch event and opening forum of IEMS titled 'Prospects for Emerging Markets in the Global Economy' featured world-renowned experts and academics giving insights into the complex concerns of emerging market economies as they seek to maintain economic dynamism in a changing global environment.
In light of the increasingly significant role played by emerging markets in the global economy, IEMS was established to press ahead with a relevant research agenda to probe into the range of challenges facing emerging markets. The Institute will focus on six key thematic areas: sustainable growth, macroeconomic policy, capital market development, business management and strategy, human capital and inequality. The Institute's founding objectives are threefold: 1) to promote high-quality faculty research and research collaboration on issues of practical importance to businesses and policy makers in emerging markets, including partnering with the network of research centers in key emerging markets being supported by Ernst & Young; 2) to communicate relevant research findings by HKUST researchers to a broad audience through reports, newsletters, and events, with an aim of wielding maximum impact on public discourse about emerging markets; 3) to provide a platform for increasing knowledge, awareness, and exchange of ideas about issues facing emerging markets among academics, the business community, government officials and other interested parties.
Officiating at the launch event of IEMS, Prof Tony F Chan, President of HKUST said, "The University is very excited to partner with Ernst & Young to establish IEMS, whose mission is to provide thought leadership on the challenges and opportunities facing businesses and policy-makers in emerging markets. As a globally elite university located at the gateway of China and other Asian economies, HKUST is in a unique position to lead public discussion on key issues facing the world's most dynamic economies."
Prof Albert Park, IEMS Director, Chair Professor of Social Science and Professor of Economics said, "Emerging markets will soon account for the majority of global GDP, led by a rising Asia, and their emergence is transforming global economic relations, international politics, and the business strategies of multinational companies. HKUST has over 30 world-class faculty from multiple disciplines who have research interests in emerging markets and so is well-positioned to become a leader on issues facing emerging markets."
Mr Jay Nibbe, Ernst & Young Chair of the Global Accounts Committee commented, "Academic institutions such as HKUST are playing an active role in supporting the broader business and government communities by providing insights on Emerging Markets. This partnership reinforces Ernst & Young's continued commitment to rapid growth markets in the region and allows us to constantly monitor key developments and opportunities into them."
Speaking at the opening forum were distinguished scholars and experts. They were Prof Jan Svejnar, Director of the Center for Global Economic Governance, Columbia University, and former candidate for the Presidency of the Czech Republic, Prof Yang Yao, Director of China Center for Economic Research and Dean of the National School of Development, Peking University and Prof Deepak Nayyar, Emeritus Professor of Economics at Jawaharlal Nehru University and former Chief Economic Adviser to the Government of India. They spoke respectively on the effects of the global economic situation on emerging market economies, China's growth prospects and the economic policies of China, India and Brazil, followed by enthusiastic discussions with and among the audience.
For more information, visit the IEMS website at: http://iems.ust.hk/
For media enquiries, please feel free to contact:
Mavis Wong
Tel: 2358 6306
Email: maviswong@ust.hk
