No doubt the destination of many investors are in markets of emerging economies. In addition to the need to reduce market risk by diversifying market portfolio, markets are in competition with each other. So there are lots of interests generated regarding information on market trends of developing economies using macro economic indices. But most of them I have come across tend to investigate sectoral growths, policy impact and relationship with structural breaks. Because of the dynamic factors of the operating environment of the emerging economy under consideration, such as political, social, technological and other qualitative but significant drivers, there are major challenges to constructing the appropriate model that best captures the relevant variables. Emerging markets have a good dose of potentials for research and are yet to be fully explored.

I think one of the primary research topics in developing countries is "How to encourage sustained economic growth? " In other words, what factors are most closely related to economic growth in a poor economy? (Microfinance?) What can the government do to encourage economic growth?

A related topic is "How to reduce poverty?"

Still another question is "How to reduce government corruption?"

The availability of high tech to the world gives developing countries a better chance to grow now, providing that they adopt a modern growth paradigm. One such paradigm might be that they desire to better their conditions, that they are will to attract FDI, that they deregulate when appropriate etc. Old paradigms such as import substitution, adopting low return infrastructure supply side investment templates, and high dependence on debt reduction can stand in the way. A modern growth paradigm that tends to encourate FTA is now questionable. An appropriate modern growth paradigm is however, necessary.