Why Emerging Markets and CEE?

Originally founded as Imperial Export Academy and continued as „Hochschule für Welthandel“ (University of global trade) after World War I, the Vienna University of Economics and Business is bound to global trade topics by its origins. The focus of the Competence Center on the CEE region arises from the great historical, social and economic importance that has been attached to this region for Austria.

Increasing international significance of Emerging Markets, as well as their continuously rising economic interdependence with the German-speaking economic area finds academic recognition in multiple publications by the WU throughout various departments.

Emerging Markets (EM) are often titled newly industrialized countries or countries in transition and are characterized by:

  1. high dynamic of growth, fast industrialization, increasing integration into world markets

  2. institutional insecurities and dynamics such as corruption, underdeveloped financial markets or immature legal systems.


Currently about 40 states are considered Emerging Markets, depending on the definition. They are usually summarized in groups of countries. A number of countries in transition from the Central and Eastern European Region (CEE) have by now grown out of their status as EM-countries whereas other countries, such as Russia, Ukraine or Romania, are still considered EM-countries.