International Economics最新文献_第10页

Talents from abroad. Foreign managers and productivity in the United Kingdom 来自国外的人才。外国管理人员与英国的生产力

International Economics Pub Date : 2023-11-28 DOI: 10.1016/j.inteco.2023.100474

Dimitrios Exadaktylos, Massimo Riccaboni, Armando Rungi

{"title":"Talents from abroad. Foreign managers and productivity in the United Kingdom","authors":"Dimitrios Exadaktylos, Massimo Riccaboni, Armando Rungi","doi":"10.1016/j.inteco.2023.100474","DOIUrl":"https://doi.org/10.1016/j.inteco.2023.100474","url":null,"abstract":"<div><p>In this paper, we test the contribution of foreign management to firm productivity. We use a novel data set on the careers of 115,505 managers employed in 10,238 firms in the UK from 2009–2017. We find that domestic manufacturing firms become, on average, 4.9% more productive and about 23.3% more capital intensive after hiring foreign managers. In particular, we find that prior industry-specific experience of foreign managers abroad allows spillover effects to domestic recruiting firms. On the other hand, we find no significant effect on foreign-owned firms after hiring foreign managers, possibly because technological spillovers have already occurred after takeovers by headquarters. The marginal productivity gain is twice as high when the new hires end up on all-British boards without a history of diversity. Our identification strategy combines matching techniques, difference-in-difference and pre-recruitment trends to challenge reverse causality. The results are robust to different specifications and sample composition effects. Ultimately, our results show how restrictions on the global mobility of managerial talent hamper the competitiveness of the domestic industry.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"177 ","pages":"Article 100474"},"PeriodicalIF":0.0,"publicationDate":"2023-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2110701723000860/pdfft?md5=104167de06f7b183c6c7280e49397bb7&pid=1-s2.0-S2110701723000860-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138490613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A multifractal detrended fluctuation analysis of Islamic and conventional financial markets efficiency during the COVID-19 pandemic 2019冠状病毒病大流行期间伊斯兰和传统金融市场效率的多重分形趋势波动分析

International Economics Pub Date : 2023-11-15 DOI: 10.1016/j.inteco.2023.100463

Syed Ali Raza , Nida Shah , Muhammed Tahir Suleman

{"title":"A multifractal detrended fluctuation analysis of Islamic and conventional financial markets efficiency during the COVID-19 pandemic","authors":"Syed Ali Raza , Nida Shah , Muhammed Tahir Suleman","doi":"10.1016/j.inteco.2023.100463","DOIUrl":"10.1016/j.inteco.2023.100463","url":null,"abstract":"<div><p>This paper examines the efficiency of DJIM conventional and Islamic sectoral stock markets before and during the Covid-19 period. The study uses both sectoral stock markets' daily data from January 1, 2010, to August 1, 2022, and relies on the multifractal detrended fluctuation analysis (MF-DFA). Firstly, we find that the conventional and Islamic sectoral stock markets are multifractal in the short and long run. Secondly, conventional and Islamic sectoral stock markets are characterized by long-term memory features in small fluctuations. Thirdly, in terms of efficiency before the Covid-19 period, in the Islamic sectoral market, the healthcare sector is the most efficient in the short run, and the financial sector is the most efficient in the long run. During the Covid-19 period, in the conventional sectoral market, the financial sector was the most efficient in the short run, and the utility sector was the most efficient in the long run.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"177 ","pages":"Article 100463"},"PeriodicalIF":0.0,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2110701723000756/pdfft?md5=cc3c8784b2a9cc81b44312e7a16f2a8d&pid=1-s2.0-S2110701723000756-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138526800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Chinese economic behavior in times of covid-19. A new leading economic indicator based on Google trends covid-19时期中国的经济行为。一个基于谷歌趋势的新的领先经济指标

International Economics Pub Date : 2023-11-10 DOI: 10.1016/j.inteco.2023.100462

Manuel Monge, Gloria Claudio-Quiroga, Carlos Poza

{"title":"Chinese economic behavior in times of covid-19. A new leading economic indicator based on Google trends","authors":"Manuel Monge, Gloria Claudio-Quiroga, Carlos Poza","doi":"10.1016/j.inteco.2023.100462","DOIUrl":"10.1016/j.inteco.2023.100462","url":null,"abstract":"<div><p>Since December 2019 we have been living with a virus called SARS-CoV-2 which has led to health policies being given prevalence over economic ones, causing serious consequences with regard to China's economic growth. For this purpose, we have built a Real Time Leading Economic Indicator based on Google Trends that improves the performance of Composite Leading Indicators (CLIs) to anticipate GDP trends and turning points for the Chinese economy. First, we assess the effectiveness of this new leading indicator relative to China's GDP by analyzing its statistical properties. We use fractional integration techniques to show the high degree of persistence of the new Real Time Leading Economic Indicator (RT-LEI) for China. Second, we observe the same relationship between GDP and RT-LEI in the long term using a Fractional Cointegration VAR (FCVAR) model. Third, we use a multivariate Continuous Wavelet Transform analysis to show which leading indicator best fits GDP and to identify when a structural change occurs. Finally, we forecast, using Artificial Neural Networks and a KNN model based on Machine Learning, our RT-LEI predicting the conclusion of a bearish scenario, after which the recovery begins in mid-2022.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"177 ","pages":"Article 100462"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135614506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Frequency interdependence and portfolio management between gold, oil and sustainability stock markets 黄金、石油和可持续性股票市场之间的频率相互依赖和投资组合管理

International Economics Pub Date : 2023-10-23 DOI: 10.1016/j.inteco.2023.100461

Ramzi Nekhili , Salem Adel Ziadat , Walid Mensi

引用次数: 0

The fiscal multiplier when debt is denominated in foreign currency 债务以外币计价时的财政乘数

International Economics Pub Date : 2023-10-17 DOI: 10.1016/j.inteco.2023.100458

Marie-Pierre Hory , Grégory Levieuge , Daria Onori

引用次数: 0

Services in the India-EU free trade agreement 印度-欧盟自由贸易协定中的服务业

International Economics Pub Date : 2023-10-16 DOI: 10.1016/j.inteco.2023.100460

Hildegunn Kyvik Nordås

{"title":"Services in the India-EU free trade agreement","authors":"Hildegunn Kyvik Nordås","doi":"10.1016/j.inteco.2023.100460","DOIUrl":"https://doi.org/10.1016/j.inteco.2023.100460","url":null,"abstract":"<div><p>This paper analyses the proposed free trade agreement (FTA) between EU and India focusing on services trade. Based on the text published by the European Union, it uses the OECD STRI simulator to calculate the preference margins implied by the agreement and next predicts the impact on services trade flows using a general equilibrium structural gravity analysis. I find that the preference margin on the Services Trade Restrictiveness Index (STRI) for Indian exports to the EU is between four and eight basis points depending on the sector, while for EU’s exports to India the preference margin is between 10 and 35 basis points. The predicted effect is more than a doubling of EU services exports to India, while India’s services exports to the EU would increase by about 50%. EU’s trade with the rest of the world would not change much, while India’s exports to the rest of the world would contract by about 3%. Real services output would not change much in the EU or India. Lifting trade restrictions in the telecommunications sector is the most important policy area for facilitating services trade. About half of the predicted export expansion is driven by reforms to domestic regulation.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"176 ","pages":"Article 100460"},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2110701723000720/pdfft?md5=10c46f746a797c9f808e07ce1b6076bf&pid=1-s2.0-S2110701723000720-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92148863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The information content of sentiment indices in forecasting Value at Risk and Expected Shortfall: a Complete Realized Exponential GARCH-X approach 情绪指数在预测风险价值和预期缺口中的信息含量：一种完全实现的指数GARCH-X方法

International Economics Pub Date : 2023-10-11 DOI: 10.1016/j.inteco.2023.100459

Antonio Naimoli

引用次数: 0

Hydrogen development in Europe: Estimating material consumption in net zero emissions scenarios 欧洲的氢能开发：在净零排放情景下估计材料消耗

International Economics Pub Date : 2023-10-08 DOI: 10.1016/j.inteco.2023.100457

Gondia Sokhna Seck , Emmanuel Hache , Vincent D'Herbemont , Mathis Guyot , Louis-Marie Malbec

{"title":"Hydrogen development in Europe: Estimating material consumption in net zero emissions scenarios","authors":"Gondia Sokhna Seck , Emmanuel Hache , Vincent D'Herbemont , Mathis Guyot , Louis-Marie Malbec","doi":"10.1016/j.inteco.2023.100457","DOIUrl":"https://doi.org/10.1016/j.inteco.2023.100457","url":null,"abstract":"<div><p>Low-carbon hydrogen has already been announced by many countries as one of their priorities for achieving carbon neutrality by 2050. In Europe, particularly, a political momentum for hydrogen use has strengthened in recent years. This potential for massive development of low-carbon hydrogen technologies in the coming decades raises questions about the world's future dependence on mineral resources and the associated environmental impacts. The aim of this article is to address this issue by assessing the raw materials consumption associated with hydrogen development in Europe up to 2050. The results are based on an analysis of the European hydrogen development pathways resulting from the H24EU project. They highlight the importance of platinum-group metals in electrolysers deployment. Annual iridium demand for PEM electrolysers installed in the European Union could cause major supply tensions since it could reach 164% of its current global production by 2050. Nickel, cobalt, and copper, already associated with high risks of bottlenecks in the energy transition, are not left out: the development of alkaline electrolysis could contribute to a substantial increase in demand for these strategic materials.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"176 ","pages":"Article 100457"},"PeriodicalIF":0.0,"publicationDate":"2023-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50178843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effect of technological intensity on international trade 技术强度对国际贸易的影响

International Economics Pub Date : 2023-10-04 DOI: 10.1016/j.inteco.2023.100456

Tingting Xiong

引用次数: 0

Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities 财政结果、经常账户失衡和欧洲制度:探讨非线性

International Economics Pub Date : 2023-10-01 DOI: 10.1016/j.inteco.2023.04.002

Kady Keita , Isabelle Rabaud , Camelia Turcu

{"title":"Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities","authors":"Kady Keita , Isabelle Rabaud , Camelia Turcu","doi":"10.1016/j.inteco.2023.04.002","DOIUrl":"https://doi.org/10.1016/j.inteco.2023.04.002","url":null,"abstract":"<div><p>We analyze the fiscal outcomes associated to the current account imbalances within Europe. We hypothesize that the effects of current account imbalances on fiscal variables within the European Union are nonlinear and that the nonlinearity is modulated by the quality of governance. We use data on 28 European Union countries from 2000 to 2019, apply a Panel Smooth Transition Regression (PSTR) approach and proxy governance by measures of corruption. We find evidence of a nonlinear relationship: the fiscal effects related to current account imbalances are differentiated among European countries. On the one hand, we find a positive elasticity of fiscal balance to current account balance when the quality of institutions is low. This suggests that in countries with high corruption, a deterioration of the current account results in a degradation of fiscal balance and an increase of debt. On the other hand, we find a negative elasticity of fiscal balance to current account balance when the quality of institutions is high. This implies that in countries with low corruption, larger current account imbalances can be related to an improved fiscal balance and a lower debt. Robustness checks comfort our findings.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"175 ","pages":"Pages 121-134"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49864643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0