INTL: Economic & Financial Issues (Topic)最新文献

{"title":"Structural Change and the Income of Nations","authors":"Cynthia Armas, Fernando Sánchez‐Losada","doi":"10.2139/ssrn.3855308","DOIUrl":"https://doi.org/10.2139/ssrn.3855308","url":null,"abstract":"An increase in the supply of skilled labor has been common across the world. However, despite the rise in skilled labor force, not all countries have achieved high income levels, even when their structural transformation follows the same path (from agriculture to industry and, then, from industry to services). Skilled workers might end up in either high or low TFP sectors, according to two opposite theories of structural change (skill-biased structural transformation and stagnant structural transformation). We show that directed technical change is needed to achieve skill-biased structural transformation and, therefore, skilled workers are allocated to high TFP sectors. We present macrodata and microdata evidence to identify the existence of directed technical change. We reveal that in the U.S., South Korea and France, skilled workers have ended up in high TFP sectors due to the existence of directed technical change in the process of structural transformation, but not in Canada. There is a lack of clear evidence for Italy and Spain.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129261039","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}

{"title":"Towards the Similarity of the Countries in Terms of Business Cycle Synchronization and Income Level Equalization–Empirical Analysis","authors":"Michał Bernardelli, M. Próchniak, B. Witkowski","doi":"10.20474/jabs-5.5.4","DOIUrl":"https://doi.org/10.20474/jabs-5.5.4","url":null,"abstract":"According to the convergence hypothesis, less developed countries exhibit faster economic growth than more developed ones, that leads to the equalization of income levels between countries. The aim of the article is to verify the β convergence hypothesis in the entire EU28 group basing on the monthly data. Structural breaks in 2008 and 2013 have been introduced into the model basing on the turning points in the economic growth paths of the EU countries. The main value added of the article is an assessment of monthly estimates of the rate of convergence with the use of the extrapolated data. The latter has been acquired with the use of monthly economic sentiment indicator based on the survey data. The β convergence hypothesis has been positively validated with the use of monthly data. However, different rate of convergence has been spotted between different turning points. Furthermore, big deviations of the estimates for extrapolated monthly data compared to the results based on the observed annual time series can be observed. The research focused on convergence on a monthly basis enables more profound analysis of the Gross Domestic Product (GDP) growth paths in the EU countries.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131011090","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}

{"title":"Impacts of Chinese Investment on Economic Growth in Sub-Sahara Africa (2007-2017)","authors":"A. Makuei","doi":"10.2139/ssrn.3576348","DOIUrl":"https://doi.org/10.2139/ssrn.3576348","url":null,"abstract":"Foreign direct investment has taken a central position in promoting economic growth in the developing world and has been anticipated by different economic scholars to be playing a key role in accelerating growth in Sub-Sahara Africa countries. Over the past two decades, Chinese foreign direct investment in Sub-Sahara Africa has increased and Chinese present in the continent has brought optimism for future progress in economic and transformation. It is against this background that CFDI has appeared increasingly attractive to Sub-Sahara Africa countries facing declining domestic investment and higher costs of foreign borrowing. The governments of Sub-Sahara Africa, therefore, has been putting up incentives to ensure that foreign corporations are attracted to the country in an effort to increase the investments to the country and increase the level of economic growth. <br><br>The objective of this study was to determine the impacts Chinese foreign direct investment on economic growth in Sub-Sahara Africa and observing at the contribution of Chinese Foreign Direct Investment flows in improving the export supply of the countries' post-liberalization period.<br>The study is grounded on FDI flow data from China to individual countries in SSA over the period of 2007 to 2017 on 14 SSA countries. The time frame for this analysis is 11 years period for each country, based on the availability of data. Including all countries in SSA would have been beneficial for the study but the rest of the SSA countries were not considered for the analysis because we want to balance data, uniformity, and availability of data during the required period of time. <br><br>The study employed secondary data from different sources mainly accessed from the Chinese national bureau of statistics, MOFCOM, World Bank’s, World Development Indicators (WDI) database and World Bank African Development Indicator database as well as other sources like United Nations Commodity Trade (UN Comtrade) database, United Nations Commission on Trade and Development (UNCTAD) database and from World Economic Outlook database (WEO). <br><br>After controlling for other determinants of growth, the findings so far indicate that Chinese Foreign Direct Investment (CFDI) flow to Sub-Sahara Africa has a general positive and significant, which has a huge influence on economic growth. The results are in line with both the studies of Zhang (2001), Carkovic and Levine, (2002) and Borensztein et al. (1998) it seems plausible to argue that it is a certainty that Chinese FDI alone has a positive impact on growth. Chinese Investments have increased collective resource inflows into the host countries; this has/will improved capacity utilization, increased outputs and generated employment opportunities.<br><br>The significance of private CFDI is that such investments are slightly risk-free to the SSA countries and bring with it the advantages of advanced technology, management practices, and assured markets. Based on th","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"142 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127022057","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}

{"title":"Frugality-Based Advantage","authors":"K. Asakawa, Alvaro Cuervo‐Cazurra, C. Un","doi":"10.1016/J.LRP.2019.04.001","DOIUrl":"https://doi.org/10.1016/J.LRP.2019.04.001","url":null,"abstract":"","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"118004708","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}

{"title":"Brexit, the City and Options for ISDS","authors":"Ioannis Glinavos","doi":"10.1093/ICSIDREVIEW/SIY003","DOIUrl":"https://doi.org/10.1093/ICSIDREVIEW/SIY003","url":null,"abstract":"This paper explores how the Fair and Equitable Treatment standard and the idea of protecting the investor’s legitimate expectations could form the basis of a claim against the UK government for the consequences of Brexit. The discussion operationalises this through the presentation of a case study. We consider the position of foreign financial firms that established themselves in the City of London to take advantage of the UK’s much lauded position as the centre of European finance and investigate their options in pursuing a claim through investment treaty arbitration. The paper concludes that it is possible for an investor to win such a case, within a narrow band of facts.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131759406","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}

{"title":"Suppliers, Investors, and Equity Market Liberalizations","authors":"Martin Strieborny","doi":"10.2139/ssrn.1952908","DOIUrl":"https://doi.org/10.2139/ssrn.1952908","url":null,"abstract":"Equity market liberalizations allow foreign investors to acquire ownership stakes in domestic firms. Previous research on the real impact of these events has therefore emphasized the interactions between firms and investors. This paper shows that cross-border equity flows also improve buyers-suppliers relationships with positive ramifications for economic growth. Firstly, a buyer backed by foreign capital means a smaller probability of contract failure due to default or some liquidity problems. Secondly, liberalization-driven improvements in public and corporate governance decrease the risk of a deliberate breach of contract. Cross-border equity flows can thus reassure upstream firms about the financial stability and contractual reliability of their corporate customers. Results from panel data and event-study approach confirm that equity market liberalizations boost output growth particularly in industries dependent on the trust of their suppliers, establishing a novel channel from financial globalization to the real economy.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115435221","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}

{"title":"Moderating Effect of Country Familiarity and Country Image on Product Purchase Intention in South Africa","authors":"You‐kyung Lee, C. Robb","doi":"10.16980/JITC.12.4.201608.237","DOIUrl":"https://doi.org/10.16980/JITC.12.4.201608.237","url":null,"abstract":"Country-of-origin (COO) effect has fast become a significant phenomenon in international business studies. Despite this fact, very little research conducted in the past has looked at how the COO effect has influenced consumers in South Africa. This study investigates the COO effect on South African consumers’ willingness to purchase products from northeast Asian countries, with the use of various product categories as cues. For this purpose, four hypotheses were developed, and data collected from 103 consumers in South Africa were analyzed with SPSS 20.0. The results are as follows: (1) country image had a positive relationship with intention to purchase some product categories; and (2) the interaction between country image and country familiarity had no significant effects on the intention to purchase a product. This indicates that even though maintaining a good country image and increasing familiarity with a country would promote the intention to purchase a product, their importance and influence vary depending on the product category. The findings of this study offers important theoretical and practical implications surrounding the mechanics of country image and the impact on purchase intention, which are extracted from this study along with directions for future research.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"65 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120898752","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}

{"title":"The Impact of the Current Fiscal Crisis in the Euro Area on the Greek Banking System and the Measures Adopted to Safeguard its Stability: An Institutional, Supervisory and Regulatory Perspective","authors":"C. Gortsos","doi":"10.2139/SSRN.2769795","DOIUrl":"https://doi.org/10.2139/SSRN.2769795","url":null,"abstract":"The present study examines the impact of the current fiscal crisis in the euro area on the Greek banking system and the measures adopted to preserve its stability. It is divided into 3 Sections:(a) Section 1 contains an overview of the causes of the recent (2007-2009) international financial crisis and the current fiscal crisis in the euro area and their differentiated impact on the Greek banking system.(b) Section 2 deals with the institutional, supervisory and regulatory measures adopted to safeguard the stability of the Greek banking system from 2008 (amidst the recent international financial crisis) until the establishment of the European Banking Union in 2014. (c) Finally, Section 3 briefly overviews the main elements of the current institutional and regulatory framework governing banking stability in the European Union and the impact of its provisions on the Greek banking system.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116766062","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}

{"title":"China and Latin America Go Global: A Comparison of the Characteristics and Development Phases of Outward Foreign Direct Investment","authors":"Lourdes Casanova, Taotao Chen, Chen Chen","doi":"10.2139/ssrn.2716349","DOIUrl":"https://doi.org/10.2139/ssrn.2716349","url":null,"abstract":"This paper first compares Outward Foreign Direct Investment (OFDI) trends between China and Latin America - the main investors among developing economies today. We discover that although China and Latin American countries have different geographic distributions, their investment in developed countries has increased since the financial crisis. While Latin American countries’ OFDI focus primarily on resource or resource-based industries, China invests heavily - but not predominately - in resource industries. To further understand this trend, we compare the different phases of OFDI in China and Latin America to uncover how differences in path-development patterns explain varying OFDI features (and vice versa). We find differential government attitudes to be important driving forces behind their distinctive internationalization trajectories. The comparative work for this paper is mainly developed at the macro level, filling the gap in the literature regarding the relationship between OFDI trends among developing economies and the role of government in internationalization patterns.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131372185","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}

{"title":"Information Sources Applied in Search for a Foreign Business Partner and the Perception of Barriers in Establishing International Cooperation","authors":"Lidia Danik","doi":"10.17951/H.2015.49.3.39","DOIUrl":"https://doi.org/10.17951/H.2015.49.3.39","url":null,"abstract":"The aim of the paper is to analyze the relationship between the perception of the barriers in establishing an international cooperation and information sources applied while looking for foreign partners. The paper presents the results of the study on 278 Polish exporters and importers cooperating with partners from China and Germany. The companies were divided in two clusters differing in the perception of the barriers in establishing the cooperation with partners from China and Germany. The analysis revealed that these clusters differ only to a modest extent regarding the information sources applied to find a foreign partner. However, significant differences regarding the way of verifying the partner’s reliability were shown. This effect did not depend on the partner’s country of origin.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127666095","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}