{"title":"Evidence-based exploration of macroeconomic dynamics in ensuring the sustainability of external debt: A case study of Djibouti","authors":"Sadik Aden Dirir , Kadir Aden","doi":"10.1016/j.tncr.2025.200114","DOIUrl":"10.1016/j.tncr.2025.200114","url":null,"abstract":"<div><div>The current research examines the impact of different macroeconomic indicators on Djibouti's external debt from 1990 to 2022 using the Autoregressive Distributed Lag (ARDL) model. The empirical model provides evidence that economic growth, trade, and government expenditure have a positive and significant impact on external debt. Moreover, the findings uncovered a positive relationship between Djibouti's national savings and external debt. Interestingly, FDI inflows and population growth showcased insignificant impacts on external debt during the long run. This can be explained by the lack of a business operating environment that attracts FDI and a limited number of consuming customers due to the modest percentage of the Djiboutian population. Consequently, these findings highlight the importance of sustained economic growth, trade efficiency, and fiscal prudence in managing and potentially reducing external debt. Additionally, the insight into the relationship between national savings and external debt provides a foundation for further exploration into Djibouti's borrowing and saving behaviors.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 1","pages":"Article 200114"},"PeriodicalIF":1.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143681726","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}
{"title":"A retrospective overview of Transnational Corporations Review: An analysis of past, present and future contributions","authors":"Vinod Kumar , Sudhanshu Joshi , Manu Sharma","doi":"10.1016/j.tncr.2024.200075","DOIUrl":"https://doi.org/10.1016/j.tncr.2024.200075","url":null,"abstract":"<div><p>Transnational Corporations Review (TNCR) is a prominent international journal that publishes quarterly research on emerging markets on various micro to macro-level issues, addressing economists, policymakers, and research experts. This study attempts to demonstrate a retrospective investigation of the TNCR's productivity and target results across 15 volumes published in 2009–2023. Using VOSviewer software, different methods and tools are used for bibliometric analysis on several factors, such as research topic coverage, publications and their impact, top cited authors, the number of citations and co-citations received, and the methodology used in all contributions to TNCR. In addition, R Studio was used to develop graphical visualization and analyze the Journal's thematic evolution. Across more than 14 years of life, TNCR contributed 503 research documents across multidisciplinary themes. Most themes covered that broadly define the TNCR over this time include globalization, internationalization of firms, global supply chains, and institutional innovations: survey, time series, and quantitative studies. The essential purpose of the published work is to examine existing theories related to international trade and transnational corporations. Co-authorship trends are changing from single-authorship to collaborative research. The study is a comprehensive retrospective evaluation of the TNCR. The review shall be helpful to potential contributors, editors, and other stakeholders of the Journal.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200075"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1925209924006016/pdfft?md5=fbdff22aac893437c16f4bee30922ab7&pid=1-s2.0-S1925209924006016-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141482685","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}
{"title":"Toward a typology of business groups: A qualitative content analysis","authors":"Milad Hooshmand Chaijani , Morteza Soltani , Mohsen Akbari","doi":"10.1016/j.tncr.2024.200096","DOIUrl":"10.1016/j.tncr.2024.200096","url":null,"abstract":"<div><div>By facilitating wider communication networks and improving the performance of their affiliated businesses in complex environments, businesses can increase their competitiveness. Understanding the characteristics and diversity of business groups is necessary for developing and implementing them. In this study, we examined the question of how business groups can be classified. What criteria can be used to separate them? We conducted a qualitative analysis of the content of 48 scientific journals published between 1999 and 2020 and selected 215 articles based on purposive sampling during two stages of screening. As a result of the content analysis, three main themes were identified: “origins of group control and ownership”, “groups' institutional origins”, and “intergroup relations”. Also, at the first subtheme level, six categories were identified: group control level, group ownership type, diversity of group relations, dependence and cooperation level, relationship structure, and institutional contexts. There are 12 subcategories included in the second-level subthemes. “origin of corporate governance”, “type of group ownership”, “type of institutional contexts”, “intra-group diversification”, “extra-group diversification”, “internal cooperation”, “formalization ratio”, “length of relations”, “external cooperation”, “geographical area”, “depth of cooperation”, “group maturity level”. Lastly, axis factors related to the diversity of business groups were used to develop a set of typologies.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200096"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142661620","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}
{"title":"Intra-Africa trade and the need to rethink the neo-liberal approach","authors":"Franklin Ngwu , Kalu Ojah","doi":"10.1016/j.tncr.2024.200090","DOIUrl":"10.1016/j.tncr.2024.200090","url":null,"abstract":"<div><p>Notwithstanding past trade reforms, trade in Africa and particularly intra-Africa trade, remain dismal. Africa has even created economic communities, fitted with monetary, fiscal, and socio-political anchors, by way of various Regional Economic Communities (RECs) – now reflected by the African Continental Free Trade Area (AfCFTA). Whilst these have yielded marginal benefits, the persistence of low intra-Africa trade calls into question their suitability. Focused on the realities of institutions targeted by these reforms and Africa's context – i.e., weak linkages between institutions, high informality, and low social capital – we posit that reforms have not elicited the hoped-for high intra-Africa trade because of their near total reliance on the neo-liberal approach, which neglects Africa's context. Drawing on Africa's sociology and new institutional economics, we use a conceptual institutional analysis to evolve a political economy based framework that suggests potential solutions: Linking the formal sector that currently underpins economic/trade policies to the informal institutions that are reflective of Africa's norms, values, cultures and expectations (the informal sector), and scaling up production; via the cooperatives production model, strategic procurement mandates, and effectuation of continental transportation infrastructure network, are our recommended pathways to reversing the current dismal intra-continental trade.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200090"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1925209924006168/pdfft?md5=33ed7205d9a052b15b820b524c3f8ebb&pid=1-s2.0-S1925209924006168-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141963194","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}
{"title":"Digital economy and the electronic payment behavior: An empirical analysis","authors":"Doan Van Dinh","doi":"10.1016/j.tncr.2024.200078","DOIUrl":"10.1016/j.tncr.2024.200078","url":null,"abstract":"<div><p>This study aims to investigate the factors that affect the electronic payment behavior of Vietnamese consumers. The primary focus is on identifying the challenges that consumers encounter when using e-payment methods.</p><p>The research employed multivariate regression models and conducted various data reliability tests, such as exploratory factor analysis, Cronbach's alpha coefficient, analysis of variance, rotation matrix, and correlation coefficient tests. A total of 318 respondents completed a self-report questionnaire after disqualifying 10 invalid responses. Subsequently, the collected data were subjected to further statistical analysis.</p><p>The study's findings revealed a strong correlation between various factors and electronic payment behavior, with correlation percentages at a 1% significance level of 74.3%, 56.9%, 47.2%, 54.6%, and 82.4%. The data showed high reliability, with a Cronbach's alpha of 0.893.</p><p>The practical results of this research will assist micro- and macro-managers in comprehending e-payment behavior and devising effective strategies to entice customers.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200078"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1925209924006041/pdfft?md5=ac0edb8c5ca84f61cbaaab9327b2c692&pid=1-s2.0-S1925209924006041-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141573208","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}
Reem El Sherif, Charles Komla Delali Adjasi, Michael Graham
{"title":"The determinants of gender spillovers in FDI: An analysis of Namibia","authors":"Reem El Sherif, Charles Komla Delali Adjasi, Michael Graham","doi":"10.1016/j.tncr.2024.200094","DOIUrl":"10.1016/j.tncr.2024.200094","url":null,"abstract":"<div><div>This paper examines the effect of foreign firm characteristics on FDI spillovers in Namibia, with a specific focus on gender spillover, as an additional measure to total labour spillover. Also, the possible differing spillovers in the manufacturing and services firms are investigated. Using data from the World Bank Enterprise Survey for 2006 and 2014, the paper finds that the gender spillover is significantly influenced by four variables; sector, firm age, transport challenges, and supply-chain finance. Relative to the services sector, firms in the manufacturing sector are found to significantly drive gender spillovers due to a probable preference for females “nimble fingers”, perceived obedience, and lower wages. However, the paper documents that older firms, especially those in the manufacturing sector, negatively impact gender spillovers. Also, transport challenges are shown to drive gender spillovers. This result arises from the possibility that they impose an opportunity cost, whereby, firms may defer investing in female labour due to lower perceived wages to compensate for high transport costs. Finally, we document a negative influence of supply-chain finance on gender spillovers, arising from possible labour cuts as MNCs outsource jobs in the supply chain.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200094"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142446803","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}
{"title":"The role of institutions in logistics performance as a new road toward GVC participation","authors":"Feriel Nasser, Feryel Ouerghi","doi":"10.1016/j.tncr.2024.200092","DOIUrl":"10.1016/j.tncr.2024.200092","url":null,"abstract":"<div><div>Participation in global value chains (GVC) is increasingly seen in recent years as the new development challenge by policymakers in many countries. The COVID-19 pandemic recently revealed to the public eye that logistics capabilities are the backbone of the country's competitiveness within the GVC. Nevertheless, studies on logistics performance and GVC are still lacking until today. This paper aims to investigate the role of national institutional quality in the logistics performance-GVC participation nexus, using 68 countries covering 2005 through 2021. The findings of the present study reveal that (a) logistics performance has a positive and significant impact on GVC participation, (b) improving the overall level of governance has a positive impact on GVC participation, (c) the quality of national institutions plays a significant moderating role in logistics performance and GVC participation nexus, (d) the impact of logistics performance on forward linkage, under high governance countries is greater than under low governance countries and (e) the backward linkage is much more sensitive to the time and cost control related to cross boarder and document compliance in countries with poor governance than in countries with good governance.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200092"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1925209924006181/pdfft?md5=250c6c60509bac428a51300bf681053c&pid=1-s2.0-S1925209924006181-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142314136","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}
{"title":"Enhancing economic growth through digital financial inclusion: An examination of India","authors":"Nenavath Sreenu, Som Sekhar Verma","doi":"10.1016/j.tncr.2024.200091","DOIUrl":"10.1016/j.tncr.2024.200091","url":null,"abstract":"<div><p>Financial technology has propelled India's financial sector to international acclaim. The rise of the digital economy has played a crucial role in fueling the nation's ongoing economic growth and prosperity. Using the CRITIC approach, this report thoroughly analyses FinTech and digital economy metrics in all 28 states of India from 2010 to 2022. A thorough analysis of this data uncovers the complex relationships and interactions between FinTech and the digital economy. The findings clearly demonstrate the significant impact of FinTech on India's digital economy. One important result of this impact is the progress of technological advancements, along with a decrease in the financial independence of local governments. In addition, the study reveals a fascinating finding: the influence of FinTech on the growth of the digital economy is enhanced by the existence of local financial regulatory mechanisms. By strengthening regulatory resources, FinTech plays a crucial role in promoting the development of the digital economy, especially in economically advanced regions. This research utilizes a cutting-edge methodology to unravel these intricate phenomena, providing new perspectives on the interaction between FinTech and the digital economy.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200091"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S192520992400617X/pdfft?md5=12c72893b371b072082779a1157f23e6&pid=1-s2.0-S192520992400617X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142040684","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}
Marouane Zouine, Mohamed Jallal El Adnani, Salah Eddine Salhi, El Mustapha El Anouar
{"title":"Does higher education lead to lower environmental pollution? New evidence from MENA countries using econometric panel data","authors":"Marouane Zouine, Mohamed Jallal El Adnani, Salah Eddine Salhi, El Mustapha El Anouar","doi":"10.1016/j.tncr.2024.200077","DOIUrl":"https://doi.org/10.1016/j.tncr.2024.200077","url":null,"abstract":"<div><p>Recognizing the critical significance of environmental preservation, this paper investigates the intricate relationship between higher education and environmental pollution in MENA countries from 2000 to 2018. The analysis incorporates three control variables: the globalization index, population, and gross domestic product (GDP). Employing a comprehensive methodology that includes panel unit root tests, Kao cointegration test, fixed effect GLS, fully modified ordinary least squares (FMOLS), and dynamic ordinary least squares (DOLS). As main results, we first found using GLS that higher education, globalization, and GDP per capita positively impact CO<sub>2</sub> emissions in the MENA region. Subsequently, using FMOLS and DOLS, we found that except for GDP per capita, all other variables play a key role in mitigating CO<sub>2</sub> emissions in the long run, thus validating the KURZNETS curve hypothesis for education and challenging it for economic growth in the MENA countries. Given the existing results, this study provides significant recommendations for policymakers and governments to reduce CO<sub>2</sub> emissions.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200077"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S192520992400603X/pdfft?md5=6e42f7587f7421eda47c124a4d1abad2&pid=1-s2.0-S192520992400603X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141540686","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}
{"title":"Macroeconomic determinants of foreign direct investment in emerging economies in turbulent times – A case of COVID’19 pandemic","authors":"Taofeek Olusola Ayinde , Basiru Oyeniran Fatai , Farouq Adekunmi Adeyemi","doi":"10.1016/j.tncr.2024.200079","DOIUrl":"10.1016/j.tncr.2024.200079","url":null,"abstract":"<div><p>The study investigates the macroeconomic determinants of foreign direct investment (FDI) in emerging economies in turbulent times, taking the case of COVID’19 pandemic. Fifteen (15) countries were included for empirical investigations and the period of investigation spans 2019q1–2023q2 and the analytical framework is the Wang and Wong (2007) model. With recourse to various data stability tests, the panel system generalized method of moment is adopted as the technique of analysis to obtain optimal identification solution and address inherent problems of endogeneity and heterogeneity in estimations. For robustness, the sample was decomposed into two; emerging economies with history of high and low FDI receipts respectively. The results obtained show the sensitivity of macroeconomic determinants to these disaggregation and that lag counterparts of these variables play significant roles. The results further suggests that FDI is a substitute for real gross domestic product in emerging economies with history of high FDI receipts.</p></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"16 4","pages":"Article 200079"},"PeriodicalIF":1.6,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1925209924006053/pdfft?md5=d03e9d47237faf537840d08e70382d1d&pid=1-s2.0-S1925209924006053-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141636793","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}