The launch event of the HKUST Institute for Emerging Market
Studies (IEMS) was officiated by Prof. Tony F Chan, President of
HKUST. In addition to remarks by Mr. Jay Nibbe of EY, HKUST
IEMS Director Albert Park moderated a panel discussion on
“Prospects for Emerging Markets in the Global Economy”
featuring world-renowned academic scholars. Prof. Jan Svejnar,
Director of the Center for Global Economic Governance at
Columbia University, discussed the effects of the current global
economic situation on emerging market economies, explaining
how globalization and foreign competition have affected
domestic firms in emerging markets. Prof. Yang Yao, Dean
of the National School of Development at Peking University,
commented on China's economic growth prospects, and
suggested that although China is likely to maintain relatively
high rates of growth, technology lock-in, environmental
problems and energy shortage constitute real challenges that
China must overcome to achieve sustained economic growth.
Prof. Deepak Nayyar, Emeritus Prof. of Economics at Jawaharlal
Nehru University and former Chief Economic Adviser to the
Government of India, analyzed the technological capabilities of
China, India and Brazil, and emphasized the opportunities for
late-comer countries to learn from these countries to promote
their own technological development. He also pointed out that
each economy has its own specificities and may be allies on
many issues but also competitors in some arenas.
LAUNCH EVENT OF HKUST IEMS
NEWSLETTER
The HKUST Institute for Emerging Market Studies (IEMS) was
launched on May 27, 2013 with generous financial support from
EY and the mission to provide thought leadership by leading
experts on key issues facing businesses and governments
in emerging market countries. HKUST IEMS has organized a
series of events examining issues ranging from governance
to education, inequality, innovation, and urbanization, and
has supported new research by faculty from diverse academic
disciplines. HKUST, as a globally elite university whose location
makes it a gateway to China and other Asian economies, is
well-positioned to become a thought leader on issues facing
emerging markets. HKUST IEMS has about 40 Faculty Associates
with research interests in emerging markets, mainly from the six
Business School departments and the Division of Social Science.
To realize its mission, HKUST IEMS has three main goals. The
first is to generate new knowledge by promoting high-quality
research on issues of practical importance to businesses and
policy makers in emerging markets. The Institute provides
financial support for faculty research and develops collaborations
with research partners worldwide. The second is to communicate
relevant research findings to the business and public policy
communities through reports, newsletters, and events, to have
maximum impact on the public discourse on emerging markets.
Finally, the Institute aims to provide a platform through its
events and online for increasing knowledge, awareness, and
exchange of ideas among academics, the business community,
government, non-governmental organizations, and the public.
This is a conversation that is vital for successfully meeting
the many challenges confronting the world's most dynamic
countries. I hope you will join us in this endeavor.
Albert Park
Director of HKUST IEMS
Jay Nibbe
EY Global Executive
and Accounts Leader
DIRECTOR'S WELCOME
Emerging markets are the future growth markets. Every growth-
oriented company, regardless of where they are headquartered
knows and understands that a significant part of their future
success will be in these markets. At EY we recognize that our
future success will depend on understanding and building our
presence in these markets.
Even with the current volatility in the global economy, the
GDP growth in these markets will be 2.5 times faster than the
developed markets. In the short term emerging markets will
contribute two-thirds of all GDP growth. Capital flows into and
trade flows between these markets will represent more than sixty
percent of global economic activity. These markets represent the
future employment opportunities.
In order to succeed it will be necessary to have the appropriate
insights and understanding of these markets. This is why we at
EY are very pleased to support and work with HKUST to establish
the HKUST Institute for Emerging Market Studies. The Institute
will provide an opportunity to collaborate with a global leading
institution on research and knowledge development to provide
thought leadership and insights. This knowledge and insight
can benefit policy makers, including government institutions,
business and professional leaders, emerging market domestic
enterprises, global companies and other organizations operating
in emerging markets. The HKUST IEMS will be a forum for our
partners, clients and key stakeholders to address the critical
issues in these markets.
We look forward to this collaboration in building these future
markets.
A MESSAGE FROM
OUR PARTNERS AT EY
SPRING 2014
(2013.5.27)
