Need and Significance of the Topic With a high growth rate and still significant untapped potential, emerging markets are the growth engines of the world economy. The term ‘emerging market’ was originally coined by IFC to describe a fairly narrow list of middle-to-higher income economies among the developing countries, with stock markets in which foreigners could buy securities. The term’s meaning has since been expanded to include more or

Journal of Applied Economic Sciences be appeals for experienced and junior researchers, who are interested in one or more of the diverse areas covered by the journal. It is currently published quarterly with three general issues in Spring, Summer, Winter and a special one, in Fall. Journal of Applied Economic Science is indexed in CEEOL, RePEc, EBSCO databases. Authors are encouraged to submit high quality, original works written in fluent English.

„Further Challenges for a Competitive Management” is an international conference devoted to research in all branches of economics and encouraging the application of economic analysis to specific problems in both the public and private sectors. It particularly fosters quantitative studies, the results of which are of use in the practical field, and thus help to bring economic theory nearer to reality. Theoretical and empirical papers are welcome