IIM Bodh Gaya hosted International Conference on Contemporary Issues in Emerging Markets (CIEMC) 2022 with the goal of bringing together academic researchers, educators, doctoral students, and practitioners from various international institutions to elevate the academic and corporate focus on contemporary financial issues and research findings about emerging and developing economies, including the transition towards low-carbon economies.
Emerging markets face different challenges than developed countries, leading to volatile markets with data constantly changing and affecting how business is conducted. Today around 80% of the world’s GDP comes from emerging markets that are evolving at a rapid pace. Realizing the importance of the issues of these markets and their prospects, IIM Bodh Gaya co-organized the conference in association with Waikato Management School, The University of Waikato, New Zealand, and invited research papers on this theme. The conference received an amazing response at the National and International levels, with more than 350 extended abstracts. Paper representations were from 26 states within the country, and international papers were received from seven countries (France, Canada, Saudi Arabia, USA, Morocco, Malaysia, and Austria). Among these, the review committee selected 234 abstracts for the final presentation, which were presented across 44 tracks (184 papers in online mode spread over 37 tracks and 50 papers in offline mode spread over 10 tracks).
A Pre-Conference Doctoral Workshop was organized on October 27th on the topics related to “Econometric Methods for Research and Policy Analysis.” Prof. Robert Faff, Professor and Associate Dean-Research, Bond University; Ms. Rachita Gulati, Associate Professor, IIT Roorkee; and Prof. Anoop S Kumar, Assistant Professor, Gulati Institute of Finance and Taxation India, were the distinguished speakers. They enriched the participants with their insights on the importance of research and practical guidelines about applying econometric techniques in diverse fields of economics, finance, and business using econometric software.
On 28th October, Prof. Vinita S. Sahay, Director, IIM Bodh Gaya, took the stage with Ambassador A.R. Ghanashyam, former Indian Diplomat, Ministry of External Affairs, Government of India, Prof Geeta Duppati, Senior Lecturer in Finance, Waikato Management School, University of Waikato, New Zealand, and Prof. Aviral Kumar Tiwari, Assistant Professor of Economics at IIM Bodh Gaya to inaugurate the conference with the auspicious lighting of the lamp. Later, Prof. Tiwari addressed the goals and objectives of the conference to the audience.
Prof. Sahay extended a warm welcome to the participants and the dignitaries. She said, “We are poised for the future as an economy, as a country, and each of us is contributing to that conviction.” She proudly said that compared to most powerful countries, we handled the corona crisis very well.
Ambassador A.R. Ghanashyam talked about the impact of the Russia-Ukraine war on emerging markets. He explained in detail the formation of NATO and discussed emerging countries’ increasing dependency on China. Prof. S. Siddharth, Principal Secretary to the Chief Minister of Bihar, explained how the impact of Covid had been very high in emerging markets. He said, “One of the effects of Covid was the loss of production which led to loss of employment and hence a loss of demand.” At the end of his speech, he expressed his best wishes to the participants. Followed by his address, Prof. Vinita S. Sahay released the ‘Book of Abstracts.’
Prof. Frank Scrimgeour, Professor in Environmental, Financial, and Agricultural Economics and Head of the School of Accounting, Finance, and Economics, Waikato Management School, Hamilton, New Zealand, shared his insights about how institutions facilitate economic and financial research across the world and how academic and non-academic financial institutions care about. He said, “Effective global research associations enable and empower the voice of their members and deal with other constraints emerging researchers have to navigate.”
Prof. Wenxuan Hou, MAE Chair in Corporate Finance, University of Edinburgh Business School Joint Editor of British Accounting Review Edinburgh, EH8 9JS, UK, highlighted the importance of family ties in the economics literature. He also said, “Trust is the foundation of economic activity and a prerequisite for financial development.” Followed by his speech, Prof. Anne D’Arcy, Head of the Institute for Corporate Governance Vienna University of Economics and Business Vienna, Austria, shared a European perspective of “Trends In Sustainable Finance” and explained the EU action plan on Sustainable Finance.
Later the participants enthusiastically delivered their paper presentations. The first day of the conference concluded with a cultural event organized by the Cultural Committee of IIM Bodh Gaya. The students entertained the audience with their lively performances, adding more colours to the event.
The second day of the conference, i.e. on 29th October, will witness more paper presentations from the participants. The conference will host Sri Arvind Choudhury, Principal Secretary, Ministry of Environment, Forest and Climate Change, Govt of Bihar, as the Chief Guest for the second day.
The best presentations will be awarded, and certificates will be provided to the participants at the end of the conference.