HKUST Institute for Emerging Market Studies (IEMS) provides thought leadership on issues facing businesses and policy makers in emerging markets. Building on the research strengths of the faculty at the Hong Kong University of Science and Technology, the Institute focuses its research and activities on the themes of human capital, employment, and structural change; innovation and entrepreneurship; global economic integration; financial development; strategies, firms, and markets; behavioural studies, and the Belt and Road Initiative.