ATTRACTING FOREIGN DIRECT INVESTMENT IN TRANSITION ECONOMIES WITH SPECIAL REFERENCE TO THE REPUBLIC OF MACEDONIA

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Marija Gogova Samonikov

2013-07-01

Full Text Available The focus of this paper is an analysis of foreign direct investment and their impact and scale in countries in transition, with special reference to Macedonia. The main aim of this article is to show the investment in Macedonia, in the period before and after the crisis of 2007 and to provide guidance for future activities that will help improve the economic situation in general. The results show that the Macedonian economy is especially supported by active government action on this issue. Government and its activities significantly improve the position of Macedonia in relation to neighboring countries, but there are still areas that need to act. Such domain infrastructure is an issue that would fulfill the image of Macedonian policy for attracting foreign investors. The conclusion is that despite all activities there are determinants that affect traditional markets. The most important of them is the level of gross domestic product. Macedonia has taken many measures to increase the level of GDP and in the level of attracting foreign capital has introduced tax benefits, customs benefits and other benefits with which is competitive with neighboring countries. However, GDP and employment are still not satisfactorily reflected.

International Trade and Foreign Direct Investment as Innovation Factors of the U.S. Economy

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Napiórkowski1 Tomasz M.

2014-10-01

Full Text Available The aim of this research is to asses the hypothesis that foreign direct investment (FDI and international trade have had a positive impact on innovation in one of the most significant economies in the world, the United States (U.S.. To do so, the author used annual data from 1995 to 2010 to build a set of econometric models. In each model, 11 in total the number of patent applications by U.S. residents is regressed on inward FDI stock, exports and imports of the economy as a collective, and in each of the 10 SITC groups separately.

Particularities Regarding the Evolution and Role of Foreign Direct Investments in Romania’s Economy

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Ion Botescu

2016-01-01

Full Text Available Criticized by some, praised by others foreign direct investments are a financial flow with amajor impact on the economies of many countries. In an increasingly globalized world, the processthrough which multinationals open production and distribution branches over the entire surface ofthe globe is something as natural as possible. After the fall of communism in Europe, Romania has been a favorite destination for manyforeign investors, fact which requires a careful analysis on the dynamics and structure of foreigndirect investment flows attracted by Romania. I have also tried to highlight the nature of the linkbetween the flow of foreign direct investment attracted by Romania and the variations recorded inthe economic development of our country. Given all the positive and negative aspects presented, foreign direct investments are a realityfor Romania, and future policies promoted in the area should stimulate the entry foreign capitalfirms whose work will generate a high level of content of knowledge and technology directlyimpacting the improvement of the economic efficiency at national level.

Foreign Investment Boosts Rural Economies.

Science.gov (United States)

Glasmeier, Amy; Glickman, Norman

1990-01-01

Through 1987, 10 percent of foreign investment was in nonmetro counties; 44 percent of this was in the South; and 38 percent of nonmetro foreign investment created new jobs (versus 17 percent in metro areas). Foreign investors chose nonmetro areas with low wages, lack of unionization history, good transportation access, and government incentives.…

Foreign Remittances, Foreign Direct Investment, Foreign Imports and Economic Growth in Pakistan: A Time Series Analysis

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Muhammad Tahir

2015-10-01

Full Text Available This empirical research paper focuses on establishing a relationship between external determinants and economic growth of Pakistan economy. Empirical analyses are carried out with time series econometric techniques using data over the period of 1977-2013. The main finding is that external determinants such as foreign remittances, foreign direct investment, and foreign imports matter from a growth perspective. Foreign remittances and foreign direct investment have a significant positive role in the growth process of Pakistan economy. Furthermore, it is found that foreign imports have adversely influenced the economic growth of Pakistan. The study recommends that policy makers shall take appropriate steps to increase the inflow of both foreign remittances and foreign direct investment in order to achieve the long run economic growth.

New competitive strategies of foreign banks in large emerging economies: the case of Brazil

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Fernando J. Cardim de Carvalho

2000-06-01

Full Text Available Financial relations have been deeply transformed in the 1980s and 1990s by deregulation and liberalization. Among the most affected by these changes has been the banking system. Domestic banks have generally lost the implicit protection given by regulatory barriers to entry. Until very recently, in most of the world, foreign banks had their range of operations limited by both regulatory and market factors in developed and developing countries alike. This has radically changed in the 1990s. Foreign banks previously content to hold marginal positions in domestic emerging markets started to pursue aggressive strategies of expansion. Competition among banks operating domestically is being intensified as a result, particularly in emerging economies large enough to support entry of new banking firms. We examine the case of Brazil, where, following the semi-crisis of 1995, a significant number of banks set up subsidiaries fighting for increasing market shares of the domestic market. The paper shows the ways these banks chose to enter the market and explores the perspectives for the domestic banking sector.

Determinants of Foreign Direct Investments in Transition Economies: Case of Commonwealth of Independent Countries

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Sobir Shukurov

2016-01-01

Full Text Available While there has been voluminous research on the determinants of FDI for developed and developing countries, little has been done on this issue for transition economies, especially, for the Commonwealth of Independent States (CIS countries. the present paper examines the determinants of inward Foreign Direct Investment (FDI flows in the CIS during 1995–2010. the results of empirical analysis using panel data models, conducted with the purpose of identifying the factors that determine the motivation and decision of multinational companies (MNC to invest in CIS economies, show that regardless of the presence of high investment risk in transition economies, the choice of FDI location always depends on a preliminary analysis of countries’ advantages (FDI stock, market size, abundance in natural resources and disadvantages at macro level (fiscal imbalance and inflation. These pre‑existing conditions can always roughly predict the type of FDI (resource-seeking, market‑seeking, efficiency-seeking.

Green economy and related concepts

NARCIS (Netherlands)

Loiseau, Eleonore; Saikku, Laura; Antikainen, Riina; Droste, Nils; Hansjürgens, Bernd; Pitkänen, Kati; Leskinen, Pekka; Kuikman, Peter; Thomsen, Marianne

2016-01-01

For the last ten years, the notion of a green economy has become increasingly attractive to policy makers. However, green economy covers a lot of diverse concepts and its links with sustainability are not always clear. In this article, we focus on definitions of green economy and related concepts

The Foreign Exchange Rate Exposure of Nations

OpenAIRE

Entorf, Horst; Moebert, Jochen; Sonderhof, Katja

2007-01-01

Following the well-known approach by Adler and Dumas (1984), we evaluate the foreign exchange rate exposure of nations. Results based on data from 27 countries show that national foreign exchange rate exposures are significantly related to the current trade balance variables of corresponding economies.

A STUDY OF CHINESE YUAN (RMB APPRECIATION ACCOMPANYING WITH OTHERS FACTORS INCLUDING FOREIGN DIRECT INVESTMENT (FDI AND THEIR EFFECT ON CHINA ECONOMY

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Ping-fu (Brian LAI

2014-07-01

Full Text Available The Chinese Yuan (RMB has been on the trend of appreciation over the last decade, and such a trend will likely be continuing for some years over the next decade. According to some scholars in their published literatures, the appreciation of RMB, the influx of Foreign Direct Investment (FDI has been ongoing accompanying the sustained growing economy in mainland China over the past decade. It is believed that the China economy has an implication from some significant factors including appreciation of RMB, interest rate of RMB, inflation and continuous increase of FDI for the next several years. The present study aims to provide an emphasis on investigation into effect on China economy as a result of appreciation of RMB and FDI together with some other factors, and to provide an outlook on the economy in China for the coming decades. First, a review was carried on relevant background information and development history of RMB and FDI. There are many reasons and factors behind leading to the sustained growth in the economy in China in the last decade and such effects were in coverage in the literature review. An overview of the development of RMB exchange mechanism, and other variables including (1 RMB exchange rate, (2 China interest rate, (3 Foreign Direct Investment (FDI, (4 Trade Balance of China, (5 Annual Inflation rate in China, (6 Energy Consumption in China, (7 Foreign Exchange Reserve in China, (8 China wages, (9 China External Debt and (10 China Consumer Price Index, which may have effect on the growth of the economy in China is covered in the literature review conducted in Chapter 2.

CONSIDERATIONS ON TRANSACTIONS OF FOREIGN TRADE

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Paliu-Popa Lucia

2009-05-01

Full Text Available In the complex connection process of national economies to global economy flows, an important role has the foreign trade, which in recent decades has become, in the market economy conditions, one of the factors determining for economic growth. Foreign trade, as a separate branch of the national economy is an important factor of economic growth, caused by the internationalization of business and determining for the process of globalization. For Romania, a country still in transition and recent member of the European Union is particularly important to enhance the participation to international trade in goods and services, but also attracting foreign investments in the economy as the main possibilities for the re-industry and restructuring the national economy in order to creation and maintenance of sustainable competitive advantages. Starting from these considerations, in this article I addressed/aproached the theoretical aspects of foreign trade, without omitting intracomunity purchases and deliveries of goods.

The foreign exchange rate rate exposure of nations

OpenAIRE

Entorf, Horst; Moebert, Jochen; Sonderhof, Katja

2007-01-01

Following the well-known approach by Adler and Dumas (1984) we evaluate the foreign exchange rate exposure of nations. Results based on data from 27 countries show that national foreign exchange rate exposures are significantly related to the current trade balance variables of corresponding economies.

Foreign currency borrowing by small firms in the transition economies

NARCIS (Netherlands)

Brown, M.; Ongena, S.; Yesin, P.

2011-01-01

We examine the firm- and country-level determinants of foreign currency borrowing by small firms, using information on the most recent loan extended to 3101 firms in 25 transition countries between 2002 and 2005. Our results suggest that foreign currency borrowing is much stronger related to

RELEVANT PROBLEMS OF UKRAINE’S INTEGRATION INTO GLOBAL ECONOMY

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Yevheniia Duliba

2017-12-01

Full Text Available The purpose of this research is to study the main problems that prevent Ukraine from integrating into the global economy and to determine correct focuses of the foreign economic policy of Ukraine against the background of strengthening of globalization tendencies throughout the world. The bases of this research are bases of business development of the foreign economic policy of Ukraine and improvement of Ukrainian economy against the background of international integration. At the heart of the research methodology is a dialectical method of scientific knowledge and, besides, special methods of research based on modern scientific bases of economic, management and related to them knowledge: economic and statistic method – for the assessment of the modern state of foreign trade and investment activity of Ukraine; method of analysis and synthesis – for the determination of tendencies of development of integration processed in Ukraine; comparative analysis – for comparison of information concerning development of specific indicators of foreign economic activities in Ukraine. Results. As a result of research, the main blocks of problems, which impede the integration of Ukraine into the global economy, and requirements for their complex solution are determined. Besides, interdependence and interdetermination of problems, which impede the integration of Ukraine into the global economy, and requirements for their complex solution are explained. Political and legal, economic, sociocultural, and infrastructural preconditions that are necessary for effective integration of Ukraine into the global economy are highlighted. Practical implications. Analysis of the existing problems related to the actual economy, investments, innovation processes gives the possibility to determine the vector of development of Ukraine’s economy taking to account recommendations concerning its improvement for the purposes of integration into global economy. Value

Evidence of fueling of the 2000 new economy bubble by foreign capital inflow: implications for the future of the US economy and its stock market

Science.gov (United States)

Sornette, Didier; Zhou, Wei-Xing

2004-02-01

Previous analyses of a large ensemble of stock markets have demonstrated that a log-periodic power law (LPPL) behavior of the prices constitutes a qualifying signature of speculative bubbles that often land with a crash. We detect such a LPPL signature in the foreign capital inflow during the bubble on the US markets culminating in March 2000. We detect a weak synchronization and lag with the NASDAQ LPPL pattern. We propose to rationalize these observations by the existence of positive feedback loops between market-appreciation/increased-spending/increased-deficit-of-balance-of-payment/larger-foreign-surplus/increased-foreign-capital-inflows and so on. Our analysis suggests that foreign capital inflow has been following rather than causing the bubble. We then combine a macroeconomic analysis of feedback processes occurring between the economy and the stock market with a technical analysis of more than 200 years of the DJIA to investigate possible scenarios for the future, three years after the end of the bubble and deep into a bearish regime. We conclude that the low interest rates and depreciating dollar are the indispensable ingredients for a lower sustainable burden of the global US debt structure and for allowing the slow rebuilding of an internationally competitive economy. This will probably be accompanied by a weak stock market on the medium term as the growing Federal deficit is consuming a large part of the foreign surplus dollars and the stock market is remaining a very risky and unattractive investment. Notwithstanding strong surge of liquidity in recent months orchestrated by the Federal Reserve, this macroeconomic analysis which incorporates an element of collective behavior is in line with our recent analyses of the bearish market that started in 2000 in terms of a LPPL “anti-bubble”. We project this LPPL anti-bubble to continue at least for another year. On the short term, increased availability of liquidity (M1) and self-fulfilling bullish

The Approach to Defining Gravity Factors of Influence on the Foreign Trade Relations of Countries

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Kalyuzhna Nataliya G.

2017-03-01

Full Text Available The aim of the article is to determine the gravity factors of influence on the foreign trade relations of countries on the basis of the results of the comparative analysis of the classical specifications of the gravity model of foreign trade and the domestic experience in gravity modeling. It is substantiated that a gravity model is one of the tools of economic and mathematical modeling, the use of which is characterized by a high level of adequacy and ensures prediction of foreign trade conditions. The main approaches to the definition of explanatory variables in the gravity equation of foreign trade are analyzed, and the author’s approach to the selection of the factors of the gravity model is proposed. As the first explanatory variable in the specification of the gravity model of foreign trade and the characteristics of the importance of economies of foreign trade partners, it is proposed to use the GDP calculated at purchasing power parity with the expected positive and statistically significant coefficient. As the second explanatory variable of the gravity equation of foreign trade, it is proposed to use a complex characteristic of the “trade distance” between countries, which reflects the current conditions of bilateral trade and depends on factors influencing the foreign trade turnover between countries — both directly (static proportionality of transport costs of geographical remoteness, and indirectly (dynamic institutional conditions of bilateral relations. The expediency of using the world average annual price for oil as the quantitative equivalent of the “trading distance” index is substantiated. Prospects for further research in this direction are identifying the form and force of influence of certain basic gravity variables on the foreign trade relations of certain partner countries and determining the appropriateness of including additional factors in the composition of the gravity equation of foreign trade.

The Impact Of Foreign Direct Investment On Turkish Economy 2010–2016

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Isiks Aliya Zhkanova

2017-12-01

Full Text Available This study focuses on Foreign Direct Investment (FDI inflows and how they are linked with the economic indicators in Turkey including the Real Effective Exchange Rate (REER, and Gross Domestic Product per capita of Purchasing Power Parity - GDP (PPP in Turkey. The GDP (PPP variable is used because it shows significant causality on REER, along with the exchange rate volatility of the U.S Dollar in the Turkish stock market. Also, as an important sector of the Turkish economy, tourism revenue is elucidated according to the Organization for Economic Co-operation and Development (OECD data from 2016. The main objective of this study is to evaluate the impact of the FDI investment on economic condition in Turkey for the period between January 2010 and July 2016. The selected period is important because it represents the crucial time for Turkish economy following the 2008 global financial crisis along with the ongoing Civil War in neighboring Syria that had initiated in 2012, Turkish-Russian crises of 2015, and the military coup attempt in Turkey in 2016. It is argued that despite all the negative international and regional developments, FDI and Tourism play key roles in attracting income to the country. This is presented in the level of REER and GDP for PPP. The results also support the findings of many economists, who have previously asserted that the Turkish economic interaction is growing at a globalized level, and is able to compete with the other large attractive areas for foreign investors around the world. Finally, the results demonstrate that the tourism industry was the least affected sector in Turkey.

Determinants of cross-border bank acquisitions in transition economies1

NARCIS (Netherlands)

Poghosyan, Tigran; de Haan, Jakob

2010-01-01

We analyse the microeconomic determinants of cross-border bank acquisitions in 11 transition economies over the period 1992-2006. We find that foreign banks target relatively large and efficient banks when they enter transition economies with weak institutions. This evidence provides support for the

The Belgian Minister of Economy, Energy, Foreign Trade and Science Policy, Marc Verwilghen, with CERN's Director-General, Robert Aymar.

CERN Multimedia

Michel Blanc

2005-01-01

Marc Verwilghen, Belgian Minister of Economy, Energy, Foreign Trade and Science Policy, came to CERN on 8 April 2005, where he visited the CMS assembly hall and underground cavern, as well as the hall where the LHC superconducting magnets are being tested.

Foreign Trade Dvelopment between Libya and the European Union

OpenAIRE

Mansoor Maitah; Nassir Salim; Abulgasem Bazina

2011-01-01

This article deals with the analysis of foreign trade development betweenLibyaand the European Union in the recent years. Libya is one of the developing countries with large area, low density of population and large endowment of natural resources, oil and gas. The Libyan economy like a number of other Arab economies, depends heavily on oil revenue, it relies heavily on a single exportable commodity, as the main source of foreign exchange earnings. Trade relations betweenLibyaand the European ...

Challenges and Problems in the Kosovo Reality Related to Foreign Direct Investment

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MSc. Nexhat Shkodra

2015-06-01

Full Text Available Economic development is a goal aspired by many countries of the world, Kosovo included. In attaining such goals, many countries face numerous difficulties. Amongst the most often taken paths by various countries is the attraction of foreign direct investments to the country. The term investment includes a wide range of human activities in engaging financial means into one of the areas: immoveable property, bonds and shares, manufacturing and service projects, scientific research, technological development, personnel education, etc. Different from internal investment which is engaged by domestic investors in their own territories, Foreign Direct Investment, the topic of our study, is a form of investment which generates revenues by a company in the country and an affiliate branch outside the investor’s seat. Foreign Direct Investments generate relations through the local company and its branches outside the country. Foreign Direct Investments (FDIs are considered to be a strength giving life to economic development of a country, and especially the developing countries. They have an important role to play in a long-term development of a country, and not only as a capital source, but also in increasing competitive abilities of the domestic economy, by technological transfers, strengthening infrastructure, increased productivity and generation of new employment opportunities.

Experiences of Emerging Economy Firms

DEFF Research Database (Denmark)

Experiences of Emerging Economy Firms investigates the different elements of the experiences of emerging economy firms and sheds essential light on a large variety of aspects associated with their functioning in both home and host contexts. For example, firms must be able to overcome the liability...... of foreign and emerging issues when they expand their activities in various contexts, enter, exit, and re-enter overseas markets; they have to overcome institutional barriers, adapt the cultural challenges in foreign markets, undergo the impact of large multinational firms from developed economies...

Spillovers from Foreign Direct Investment

DEFF Research Database (Denmark)

Meyer, Klaus E.; Sinani, Evis

2005-01-01

The extensive empirical literature analyzing productivity spillovers from foreign direct investment to local firms provides inconclusive results. Some studies find that foreign presence has a positive impact on the productivity of domestic firms, while others find no evidence or a negative effect...... for industrialized countries in the 1990s. Transition economies may experience spillovers, but these have been declining in recent years. Keywords: developing countries, transition economies, spillovers, foreign direct investment, technology transfer, meta-analysis...

15 CFR 1300.1 - Reporting of exports of technology to nonmarket economy countries.

Science.gov (United States)

2010-01-01

... nonmarket economy countries. 1300.1 Section 1300.1 Commerce and Foreign Trade Regulations Relating to... § 1300.1 Reporting of exports of technology to nonmarket economy countries. (a) For purposes of complying... the export of technology to a nonmarket economy country, exporters of such technology shall be deemed...

PROMOTING AND ATTRACTING FOREIGN DIRECT INVESTMENT

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Elena CHIRILA DONCIU

2014-09-01

Full Text Available FDI is an important element of the economic development of any country and its functioning on market principles. They have a great importance for strengthening the economy of countries in transition and their integration into the world’s economy. The modernization of national economies occurs with FDI help, by implementing advanced technologies, know-how sites, the most powerful equipment and the new quality standards by switching to a higher type of growth. The purpose of this research is to identify of the policies to attract and promote FDI, adopted by host countries for foreign investors and are highlighted beneficial aspects of foreign investments flows on recipient economies. The research results show that policies aimed at ensuring access to foreign markets, those that are considering providing commercial facilities and last, but not least, policies focused on tax incentives are very important for foreign investors.

Considering foreign direct investment in Denmark

DEFF Research Database (Denmark)

Gjerding, Allan Næs

2005-01-01

The present paper examines the aspect of relational assets and relates it to the strategic decision on undertaking foreign direct investment (FDI). The point of departure is the increasing importance of FDI globally as well as in the Danish economy, and the observation that even though Denmark...

Economic and financial relations of Serbia with foreign countries in the period 2000-2003

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Kovačević Mlađen Đ.

2004-01-01

Full Text Available The dissolution of the federation, war in the immediate environment, the UN sanctions, scarce investment as well as the NATO air-attacks had disastrous consequences for trade and financial relations of Serbia with foreign countries. Simultaneously, its foreign debt rose sharply due to the accrued interests, being at the end of 2000 substantially higher than Serbian gross domestic product. Thanks to the write-off of 51% of debt towards the Paris club, a windfall of donations and obtaining new favorable medium-term and long-term credits, the condition of Serbia's international financial relations considerably improved in the period 2001-2003, thus enabling it to run a foreign-exchange surplus during this period. Due to the policy of de facto floating exchange rate, sudden and drastic liberalization of imports and the lack of non-tariff protection, exports of goods and services in the last three years, contrary to plans, have increased much more slowly than imports, resulting in a large increase in growth and an enormously high level of trade deficit unsustainable in the long run. Due to new credits euro-denominated and other foreign-currency denominated debts being converted into the increasingly weaker dollar and the accrual of interests Serbian foreign debt increased sharply reaching an all-time high at the end of last year and being twice as high as was officially predicted three years before. The level of foreign debt is very high. Trade deficit and foreign indebtedness have become the most serious problems of Serbian economy and unless appropriate measures are taken, it will soon face a serious debt crisis.

Openness of Economy, Foreign Investment Inflows and the Phenomenon of Rent Seeking Corruption

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Syed Toqueer Akhter

2015-08-01

Full Text Available Rent seeking behavior has been amongst noticeable obstacles in path of economic growth and development for developing communities. Due to this the study aims at testing the hypothesis that the Rent seeking behavior among bureaucracy is being influenced by the openness of economy as well as inflows of foreign investment significantly. Model estimations imply that reforms may have an insignificant impact upon impact upon curtailing the rent seeking behavior among bureaucracy in a time series setting therefore this research will use two statistical econometric models to show the effect of corruption on the foreign direct inflow received in Pakistan. In order to pretest the impact of all the mentioned variables on rent seeking behavior generalized least square was used because its results were unbiased, consistent and the problem of Serial correlation was solved by using it. In order to quantify rent seeking behavior among bureaucracy different aspects of misuse of public offices appearing in form of petty and grand corruption were used using the variables informal sector, tax evasion, judicial outlay, G.D.P and F.D.I as percentage of G.D.P. All of the variables had proper signs aligned with the theory and all of the variables appeared to be significant except judicial outlay proving that the judiciary has been incompetent and ineffective. The robust regression showed all the same signs except in it every variable was appearing to be significant. Rent seeking corruption has been highly affecting Pakistan in adverse ways and this paper will show how many factors like judiciary is not playing effective role in limiting corruption and also how the economy is being affected by rent seeking behavior.

The Impact of Foreign Direct Investment on Developing Economies and the Environment The Impact of Foreign Direct Investment on Developing Economies and the Environment

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Anne Marie Zwerg

2008-12-01

Full Text Available This article is about the impact of foreign direct investment on developing economies and the environment. All of us that are concerned about the environment should ask ourselves if the increase in capital mobility associated with the world-wide process of  liberalization, deregulation and privatization, known as the Neo-liberal global regime, has contributed to the problems of higher emissions, ozone layer destruction, and pollution of water sources, as well as to create false economic bubbles that lead to increased consumption in these regions whilst forcing the destruction of the environment by the poor in order to survive and cope with the roles their society demands. Neo-liberal practices such as those enforced in developing countries like Colombia, while seeking to attract foreign investment to push their economies, tend to generate a false aggregated demand growth that in most cases is not sustainable in the long term, increases global unemployment, unleash destructive competitive processes and weaken government’s ability to regulate business in the citizens` best interests.Este artículo trata sobre el impacto de inversión extranjera directa en economíasen vías de desarrollo y el medio ambiente. Todos los que nos preocupamos por elmedio ambiente debemos preguntarnos, si el aumento en la movilidad de capitales asociada con el proceso mundial de liberalización, desregulación y privatización,conocido como “neoliberalismo”, ha contribuido a problemas de emisiones másaltas, destrucción de la capa de ozono, y polución de fuentes de agua, así como a lacreación de falsas burbujas económicas que llevan a aumentar el consumo en estasregiones, obligando a los más pobres a destruir el medio ambiente para sobrevivir ypoder cumplir con los roles impuestos por la sociedad. Prácticas neoliberales talescomo las implantadas en países en vías de desarrollo, como Colombia, en busquedade alcanzar mayor inversión extranjera para

DETERMINANTS OF FOREIGN DIRECT INVESTMENTS IN ROMANIA

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Lenuta CARP (CEKA

2014-11-01

Full Text Available Foreign direct investments have known an increased importance in the worldwide economy. Theoretical approaches highlight the positive externalities foreign direct investments generate in the beneficiary economy though different channels. The aim of this paper is to emphasize, based on an econometric analysis using data for Romania, the fundamental determinants of foreign direct investments attractiveness. The analysis will be followed by the recommendations for increasing the inflows in our country and measures to enhance their effect in the national economy. Further analysis will be developed focusing on the emerging countries from Europe using a panel technique.

LABOUR RELATIONS IN POSTINDUSTRIAL ECONOMY

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Yuriy Rostislavovitch Chistyakov

2013-09-01

Full Text Available The article deals with inadequacy of present-day labour relations in economy. Out of date form of labour relations makes workforce dependable, causes social inequality, prevents economical development. The article gives results of theoretical and empiric research. The mechanism of guaranteed reproduction of labour to be realized as social partnership is offered.Purpose: the purpose is to give critical estimation of present-day labour relations in postindustrial economy.Method of studies: monographic, general theoretic economic analysis, correlation statistic analysisResults: a new modern adequate alternative form of labour relations guarantying the reproduction of labour is introducedField of application: industrial regulation both in economics in general and concrete businesses; motivation of workers.DOI: http://dx.doi.org/10.12731/2218-7405-2013-8-29

Efficiency of Foreign Exchange Markets and Measures of Turbulence

OpenAIRE

Jacob A. Frenkel; Michael L. Mussa

1980-01-01

Since the move to generalized floating in1973, exchange rates between major currencies have displayed large fluctuations. This turbulence of foreign exchange rates is an important concern of government policy and its explanation is a challenge for theories of foreign exchange market behavior. In Section I of this paper, we document the extent of turbulence in foreign exchange markets by examining (i) the magnitude of short-run variations in exchange rates relative to other measures of economi...

THE PLACE OF THE EMERGING ECONOMY OF ROMANIA INSIDE THE EUROPEAN UNION ECONOMIES IN TERMS OF FTSE CRITERIA

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Mardiros Daniela-Neonila

2011-12-01

Full Text Available The importance of this research lies from the need to know the economies developed, emerging and frontier of the European Union and the mode of their manifestation according to the market indicators. Consequently, we had in mind a presentation of the economies in the categories mentioned above framed in terms of market criteria used by FTSE Group, a provider of stock market indices and associated data services. Using data from a series of reports published by FTSE we made an analysis of how each of the considered economies and in particular Romania, acts according of these. Was taken into consideration criteria as: market and regulatory environment (formal stock market regulatory authorities actively monitor market; fair and non-prejudicial treatment of minority shareholders; non or selective incidence of foreign ownership restrictions; free and well-developed equity market; no objections or significant restrictions or penalties applied on the repatriation of capital; free and well-developed foreign exchange market; non or simple registration process for foreign investors; custody and settlement (settlement-rare incidence of failed trades; custody-sufficient competition to ensure high quality custodian services; clearing and settlement; stock lending permitted; settlement-free delivery available; custody-omnibus account facilities available to international investors; dealing landscape (brokerage-sufficient competition to ensure high quality broker services; liquidity-sufficient broad market liquidity to support sizeable global investment; transaction costs-implicit and explicit costs to be reasonable and competitive; short sales permitted; off-exchange transactions permitted; efficient trading mechanism; transparency; derivates (developed derivatives market. The final part of the paper is reserved to the understanding of the mode in which each of the considered economies of the European Union, including Romania and regardless of what category

Foreign Shocks, Monetary Policy, and Macroeconomic Fluctuations in a Small Open Economy: A SVAR Study of Malaysia

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Zulkefly Abdul Karim

2016-06-01

Full Text Available This paper investigates the effect of foreign shocks upon domestic macroeconomic fluctuations and monetary policy, and examines the effectiveness of domestic monetary policy as a stabilization policy in Malaysia. Monetary policy variables (interest rate and money supply have been measured through a non-recursive structural VAR (SVAR identification scheme, which allows the monetary authority to set the interest rate and money supply after observing the current value of foreign variables, domestic output and inflation. The results show the important role of foreign shocks in influencing Malaysian monetary policy and macroeconomic variables. There is a real effect of monetary policy, that is, a positive shock in money supply increases domestic output. In contrast, a positive interest rates shock has a negative effect on domestic output growth and inflation. The effects of money supply and interest rate shocks on the exchange rate and stock prices are also consistent with standard economic theory. In addition, domestic monetary policy is able to mitigate the negative effect of external shocks upon domestic economy.

The dynamics and economic impact of foreign debt in South Africa

OpenAIRE

2010-01-01

D.Comm. Foreign debt affects the economy through three main channels, namely: the debt overhang effect, the liquidity constraint effect and the uncertainty effect. The main aim of this study is to derive an optimal level of foreign debt relative to Gross Domestic Product (GDP) for South Africa by investigating these channels. Incurring foreign debt is like a double edge sword. On the one side the foreign debt is needed for economic development (from a demand perspective) and on the other s...

IMPACT OF FOREIGN DIRECT INVESTMENTS ON CROATIAN FINANCIAL GROWTH

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Zoran Ivanovic

2014-12-01

Full Text Available Foreign direct investments are for the transition and less developed countries very important source of capital. Such investments have very positive impact on country’s economy in terms of employment growth, industrial production growth, gross domestic product growth, favorable effects on the balance of payments and many other positive impacts for country economy, so it’s not strange that countries in the absence of its domestic investors, are trying to attract foreign investors. Foreign investors analyze in detail possibilities and risks of each country, and if the risks exceed the opportunities there will be no inflow of foreign capital. Therefore every country which is trying to attract foreign direct investments must take care about the policy and its economy and try to be most attractive as it can be.

Foreign Capital, GDP and Effects Affairs of Macedonia

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Mico Apostolov

2015-09-01

Full Text Available This paper focuses on Southeast Europe and analyzes foreign capital movements, gross domestic product and possible effects, through a case study of Macedonia. There are many respectable sources of data, especially macro data and firm-level data that are used in this research. What we are interested in are the movements of foreign direct investment i.e. foreign capital, gross domestic product and effects of such changes, and possible contributions to the development of domestic firms and the overall economy. Foreign direct investment is usually defined as dominant or controlling ownership of a company in one country, by an entity based in another country. As of the beginning of the transition process, foreign direct investments remain priority, as essential pillar, that moves forward the society towards developed market economy. Further, we are interested in the possibility that these two indicators have positive and upward climb to facilitate this developing economy.

Does Foreign Aid Increase Foreign Direct Investment?

DEFF Research Database (Denmark)

Selaya, Pablo; Sunesen, Eva Rytter

  The notion that foreign aid and foreign direct investment (FDI) are complementary sources of capital is conventional among governments and international cooperation agencies. This paper argues that the notion is incomplete. Within the framework of an open economy Solow model we show...... that the theoretical relationship between foreign aid and FDI is indeterminate. Aid may raise the marginal productivity of capital by financing complementary inputs, such as public infrastructure projects and human capital investment. However, aid may also crowd out productive private investments if it comes...... in the shape of physical capital transfers. We therefore turn to an empirical analysis of the relationship between FDI and disaggregated aid flows. Our results strongly support the hypotheses that aid invested in complementary inputs draws in foreign capital while aid invested in physical capital crowds out...

The Rise of China and Foreign Direct Investment from Southeast Asia

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Krislert Samphantharak

2011-01-01

Full Text Available This paper discusses foreign direct investment from Southeast Asia to China. With the exception of some government-linked companies, most investments from Southeast Asia have been dominated by the region’s overseas Chinese businesses. In addition to cheap labour costs, large domestic market and growing economy, China has provided business opportunities to investors from Southeast Asia thanks to their geographic proximity and ethnic connections, at least during the initial investment period. However, the network effects seem to decline soon after. As the Chinese economy becomes more globalised and more competitive, the success of foreign investment in China will increasingly depend on business competency rather than ethnic relations.

THE INFLUENCE OF THE SIZE OF THE ECONOMY AND EUROPEAN INTEGRATION ON FOREIGN DIRECT INVESTMENTS IN THE CENTRAL, SOUTHEASTERN AND EASTERN EUROPEAN STATES 1994-2013

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Petar Kurecic

2016-03-01

Full Text Available The paper studies the interdependence of the economy size and foreign direct investments (FDI in the transitional economies of Central, Southeastern and Eastern Europe. In the global capitalist economy, foreign direct investments (FDI represent one of the key determinants of economic growth. Among some transitional economies, in the last 20 years, FDI represented one of factors that increased the economic growth, and in other transitional economies, the influence of FDI was minor or even negligible. In the literature devoted to the influence of FDI on economies, the research about the determinants of geographical pattern of FDI distribution usually focuses on the factors that determine why some states manage to draw FDI in higher levels than some other states. Our research focused on the transitional economies of Central, Southeastern and Eastern Europe, which were for the most part of the last 20 years net receivers of the FDI. Only a couple of these countries in the years of the current economic crisis have experienced FDI net outflow. Among the states studied, we have equally studied the EU members, as well as the non-EU members. We have tried to find similarities and differences between these two groups of states in order to determine the influence of EU membership on FDI per capita and how it correlates with the size of the state’s economy. We have also tried to answer the question of how much the GDP growth rate correlates to the FDI net inflow share in GDP for EU and non-EU members. The methodology is based on the statistical correlation between FDI in current US dollars and GDP per capita in current US dollars (World Bank data for each represented state, through the surveyed period from 1994 until 2013. The statistical correlation matrix (Pearson method determined whether any correlation between the average GDP growth rate (chain index and the average share of FDI in GDP per each state exists for each state surveyed.

Foreign bond markets and financial market development: International perspectives

OpenAIRE

Batten, Jonathan A.; Hogan, Warren P.; Szilagyi, Peter G.

2009-01-01

The domestic bond markets of the Asia and Pacific region have grown considerably since the Asian financial crisis of 1997, although they remain undeveloped relative to the region's weight in the world economy. This paper proposes that in order to encourage further development of these markets, regulators should make them more accessible to foreign borrowers. To that end we offer insights into the nature and mechanics of foreign bond issuance by investigating the key characteristics of 3,132 f...

The Effect of Foreign Trade Policy Transparency on Integration of Ukraine in the World Economy

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Yakovchenko Victoria S.

2018-02-01

Full Text Available The article is concerned with the interdependence between dynamics of the international trade and economic relations development and the existing level of foreign trade policy transparency in accordance with the provisions of the WTO Trade Facilitation Agreement. The effect of observance of transparency principle in foreign trade policy on forming the transaction costs in foreign trade is analyzed. A comparative analysis of the influence of import duties and transaction costs on the formation of Ukraine’s foreign trade barriers is carried out. Prospects of the national export-import activity development under increasing transparency of foreign trade policy of Ukraine and other world countries are determined.

Trans-nationalisation Processes in the Ukrainian Economy

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Bolharova Natalya K.

2013-12-01

Full Text Available The article considers main processes of trans-nationalisation of Ukrainian economy, identifies specific features of trans-national production and explains some theoretical aspects of these issues. It provides main stages of theoretical comprehension of activity of trans-national corporations (TNC, specific features of the theory of competitive advantages of TNC and specifies the basic ones of them. The article conducts analysis of flows of direct foreign investments into the Ukrainian economy. It shows distribution of direct foreign investments into Ukraine by main countries-investors, regions-recipients and types of economic activity. It conducts review and analysis of the modern state of trans-national corporations of foreign origin in the Ukrainian market. It considers functioning of domestic TNC in Ukraine and main tendencies of entering of Ukrainian companies into the world environment and also identifies directions of further development of these phenomena. Prospects of further studies in this direction are identification of the degree of trans-nationalisation processes in the Ukrainian economy and identification of the positive effect, in particular, synergy from integration and globalisation.

Los giros del comercio exterior y la inversión extranjera directa en Cuba. The turns of foreign trade and direct foreign investment in cuba

OpenAIRE

Quintero Santos, Jose

2013-01-01

Cuban economy has a high dependence on foreign trade. In this way, Cuban economy is very vulnerable to changes occurring in the international economy. The changes in domestic economic policy and in the international economic have a great influence in the structure of the trade balance and the positioning of the various products and services in the composition of exports and imports that Cuba needs for economic development. Hence, external financing and the foreign direct invest...

THE DYNAMICS OF FOREIGN DIRECT INVESTMENT IN ROMANIA AFTER EU ACCESSION

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Nicoleta Rusu

2010-12-01

Full Text Available Identification of potential investment of the countries in the current context is one of the main important problem of the world economy because the investments, particularly foreign ones, is considered the key factor for economic growth and development. Foreign direct investments are an alternative source for financing the national economy, with a tendency in recent years of a positive effect on the Romanian economy. This paperwork highlights the role of foreign direct investment in Romania's economical growth potential, with major impact on employment, on the economic modernization, technology transfer and on the living standards. At the same time the article analyzed and highlights the contains of the current trend of foreign direct investments, structure and dynamics after Romania joined the European Union and their geographical distribution on the main development regions.

From user-producer relations to the learning economy

DEFF Research Database (Denmark)

Johnson, Bjørn

2011-01-01

This paper deals with three issues. First, the conceptual and theoretical development in Lundvall’s writing from user–producer relations to the learning economy is discussed with a focus on his main contributions to innovation theory. Second, Lundvall’s description of the learning economy...... the learning economy is placed as a central concept in the quest for a general theory of innovation, which for many years has characterized Lundvall’s writings....... is extended in that it is argued that it is driven by its internal contradictions, and by the institutional responses to these contradictions. This approach is not in conflict with Lundvall’s views, but he has not pursued it and it may give new insights into the dynamics of the learning economy. Finally...

Why foreign firms forsake franchises

OpenAIRE

Blajina, M.

2013-01-01

This article is devoted to the problem of franchising in Russia. The article informs about difficulties, which face foreign companies developing their business in our country. Doing business in franchising foreign companies have to overcome some challenges such as: obtain a credit, unpredictability of the economy and so on. But in spite of all these difficulties many foreign companies and Russian ones set up franchising in Russia and promote themselves at the Russian market, but never the les...

EMPIRICAL EVIDENCE ON DYNAMICS OF CREDIT GROWTH AND FOREIGN RESERVE

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Satrugan Sinah

2017-09-01

Full Text Available The paper presents a model for looking into the nature of change in foreign reserve from movements in domestic credit. This model is relevant to foreign reserve targeting, small and open economies. The model denotes that measures undertaken by central banks to constraint domestic credit growth with the view of controlling capital outflows will also be detrimental to foreign reserves level. The empirical studies with application of Fourier Transformation technique have been used to build a model, which shows that growth in domestic credit is more biased towards positive swings in foreign reserves, rather than being unfavorable. The small and open economies, particularly, the Pacific Island nations, have the right set up for application of this model to safeguard foreign reserves level.

The external sector of the Serbian economy

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Ristanović Vladimir

2016-01-01

Full Text Available The aim of this paper is to show the external sector of the Serbian economy, its features and peculiarities, as well as anomalies that afflicted it for years. In the analysis, data acquired from the Statistical Office of the Republic of Serbia will be used, as well as the official international methodology. The text will include the analysis of the structure of the external sector, market share, competitive position of Serbian economy and export products according to sectors of the economy and factor intensity. Since 2000, the structure of production and exports of the Serbian economy shows low comparative advantages and competitive position throughout the world. Unfavorable structure of the sectors, departments and the product groups affected the deepening of external imbalances and high foreign trade deficit. Exports of technology of predominantly low intensity, resources, and labor-intensive products, common for Serbian economy, represent no guarantee of economic growth in the long term. The causes of external imbalances should be sought in the absence of adequate export strategy, as well as in high speed of liberalization of foreign trade flows and exchange rate policy.

Running for exercise mitigates age-related deterioration of walking economy.

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Justus D Ortega

Full Text Available Impaired walking performance is a key predictor of morbidity among older adults. A distinctive characteristic of impaired walking performance among older adults is a greater metabolic cost (worse economy compared to young adults. However, older adults who consistently run have been shown to retain a similar running economy as young runners. Unfortunately, those running studies did not measure the metabolic cost of walking. Thus, it is unclear if running exercise can prevent the deterioration of walking economy.To determine if and how regular walking vs. running exercise affects the economy of locomotion in older adults.15 older adults (69 ± 3 years who walk ≥ 30 min, 3x/week for exercise, "walkers" and 15 older adults (69 ± 5 years who run ≥ 30 min, 3x/week, "runners" walked on a force-instrumented treadmill at three speeds (0.75, 1.25, and 1.75 m/s. We determined walking economy using expired gas analysis and walking mechanics via ground reaction forces during the last 2 minutes of each 5 minute trial. We compared walking economy between the two groups and to non-aerobically trained young and older adults from a prior study.Older runners had a 7-10% better walking economy than older walkers over the range of speeds tested (p = .016 and had walking economy similar to young sedentary adults over a similar range of speeds (p =  .237. We found no substantial biomechanical differences between older walkers and runners. In contrast to older runners, older walkers had similar walking economy as older sedentary adults (p =  .461 and ∼ 26% worse walking economy than young adults (p<.0001.Running mitigates the age-related deterioration of walking economy whereas walking for exercise appears to have minimal effect on the age-related deterioration in walking economy.

From Enclave to Linkage Economies?

DEFF Research Database (Denmark)

Hansen, Michael W.

as the enclave economy par excellence, moving in with fully integrated value chains, extracting resources and exporting them as commodities having virtually no linkages to the local economy. However, new opportunities for promoting linkages are offered by changing business strategies of local African enterprises...... as well as foreign multinational corporations (MNCs). MNCs in extractives are increasingly seeking local linkages as part of their efficiency, risk, and asset-seeking strategies, and linkage programmes are becoming integral elements in many MNCs’ corporate social responsibility (CSR) activities....... At the same time, local African enterprises are eager to, and increasingly capable of, linking up to the foreign investors in order to expand their activities and acquire technology, skills and market access. The changing strategies of MNCs and the improving capabilities of African enterprises offer new...

Turkey in Search of Relevant Foreign Policy Strategy (2002-2016

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Urmanov Dayan R.

2016-06-01

Full Text Available The main idea of this article is to describe the process of Turkish foreign policy evolvement during the rule of Justice and Development party (JDP. From weak economy and unstable political situation in 2001, JDP quickly formulated a new strategy of foreign policy and stabilized economy. In the article the Turkish foreign policy in the 21st century is divided into several stages which respond to different international threats and circumstances. The first stage was a peacekeeping stage when Turkey tried to stabilize the situation near its borders and implement peace initiatives for the purpose to find new markets and allies. As a result, Turkey formulated a new strategy of foreign policy, called “Zero Problems Policy” which aimed to create a ring of friendly countries on the borders. On the second stage, Turkish foreign policy was more active – Turkey tried to balance among regional power centers and confront with one of the most powerful actors – Israel. Confrontation with Tel Aviv was a preface to the third stage, and today under the influence of “Arab Spring” and desire to change its role in international relations, Turkey refused “Zero Problems Policy” strategy and turned to a new aggressive and revanchist idea – neo- Ottomanism. Ankara tries to build a new regional set of rules where Turkey will play a leading role.

FEDERALISM IN ETHIOPIA AND FOREIGN RELATIONS ...

African Journals Online (AJOL)

milkii

exclusive power of foreign relations by the federal government in federal polity confronts ..... vi) Participation of regional authorities in the international events ... stipulated that, the tiers of government are independent and one should respect.

REVIEW OF FDI THEORY IN THE KNOWLEDGE–INTENSIVE ECONOMY

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Ruslan Harasym

2013-02-01

Full Text Available International flow of capital in the form of Foreign Direct Investment (FDI is considered to be the primary form of capital transfer in the global economy. It plays an important role among other forms of international capital flows, due to the intensity of its streams and its strength of impact on local economies. Host countries use FDI to finance activities such as industry restructuring and transfer of technology. The aim of this paper is to present current achievements in the field of theoretical explanations of FDI – its main motives. The article relates also to current selected trends in FDI flows during the economic downturn caused by the recent financial crisis. Above all ,however, this paper aims at showing FDI theories in terms of a knowledge intensive economy.

The Export Intensity of Foreign Affiliates in Transition Economies

DEFF Research Database (Denmark)

Nielsen, Jørgen Ulff-Møller; Pawlik, Konrad

2007-01-01

  Using a unique database containing trade and industry variables of foreign-owned companies in the Polish manufacturing industry for the years 1993-2002, we investigate the relationship between the organizational structure of multinational enterprises in Poland and the export structure of their ......  Using a unique database containing trade and industry variables of foreign-owned companies in the Polish manufacturing industry for the years 1993-2002, we investigate the relationship between the organizational structure of multinational enterprises in Poland and the export structure...... of their affiliates. We find that labour intensity and foreign control are the main explanatory variables for the export intensity of the affiliates. Given the overall rise in export intensity over the period of investigation, our findings suggest that export-platform FDI has become a more important mode...

Theories of International Relations and the Explanation of Foreign Aid

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PAUSELLI, Gino

2013-06-01

Full Text Available 50 years after the publication of the first and influential article in international relations (IR analyzing foreign aid motivations, A theory of foreign aid, by Hans Morgenthau, IR scholarship has not yet accomplished a consistent theoretical body explaining international development cooperation. Most of the empirical studies on foreign aid have been contributions from other disciplines, especially economics. Research from the field of international relations has been mostly descriptive or poorly connected with IR paradigms.This article proposes to analyze motivations of foreign aid allocations decisions of donors. These motivations will be examined from the theoretical perspective of the international relations scholarship. In this way, it is sought to contribute, from the discipline of IR, to the explanation of the process in which developed countries make transfers of resources to developing countries.

The Role Of Foreign Investment In Economic And Social Development In Libya

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Mustafa Khalifa Thawadi El. Hamoudi

2017-02-01

Full Text Available Investment is whether in local or foreign organization is the action Plan split by various investment activities The Libyan economy is among those economies that require this kind of foreign investment to achieve the desired economic goals which are correlated with the objectives of the Libyan economic system for subsequent stages. Therefore it is important to study the trends and determinants of FDI in developing in general and in Libya in particular. This paper describes the role that could be played by investment foreign investment in economic and social development in Libya pointing out the positive and negative aspects and how to deal with each of them in proportion to the facts of the Libyan Economy needs. And in the light of the new economic orientation in line with the political and economic developments in the international arena and foreign investment and thus contributing to the expansion of the ownership base and create job opportunities for citizen in this study will follow the descriptive approach through the way ahead obtained from digital data from various sources using the forms as required and discussed this paper to the definition of foreign investment evolved of investment determinants of FDI motivated encourage foreign investment history prospects for foreign direct investment in Libya Barriers to foreign direct investment in Libya Policies strategies to support foreign direct investment in Libya conclusions and recommendations.

Japanese attitudes towards foreign languages.

Science.gov (United States)

Abe, Keiko

2004-01-01

The purpose of this study is to clarify Japanese attitudes towards foreign languages based on the kinds and changes of TV and radio programs that aired on the Japanese national broadcasting station (NHK) between 1955 and 2000. Foreign language programs are classified into three groups according to their content: 1) cultivation, 2) education, or 3) communication. For Japanese people, foreign languages are the measures of intelligence and intellect. Studying a foreign language is considered a sign of intelligence whether or not it is used for actual communication. The number of foreign language programs has increased tremendously since 1965 in part because the global economy has brought many countries in such close contact. Since 1990, programs for the purpose of communication have increased because of the necessity to communicate with foreign people. Japanese attitudes towards studying foreign languages have been changing gradually from an intellectual purpose to a communication purpose.

Services tradeability, trade liberalization and foreign direct investment

NARCIS (Netherlands)

J.G.M. van Marrewijk (Charles); J.J. Stibora (Joachim); A. Vaal, de (Albert)

1996-01-01

textabstractThe article analyzes a two-country general equilibrium model to examine the role played by services in the world economy. Services play an increasingly important role in the world economy, as observed, for instance, by the growing share in employment, production, exports and foreign

Introduction – Political Governance and Strategic Relations: Domestic-Foreign Policy Nexus and China’s Rise in the Global System

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Emile Kok-Kheng Yeoh

2016-04-01

Full Text Available Recent years have witnessed several momentous developments in the political economy of the People’s Republic of China (PRC both on the domestic front and in her foreign relations. Deriving correct interpretation of such fast-paced developments and changes has preoccupied much of the circles of China-watchers these days, with political scientists, economists, sociologists and international relations experts focusing their respective attentions on either the domestic transformation occurring within the PRC or on her foreign relations. While the volatile series of incidents involving a year of crackdowns on domestic civil societal movements, civil rights lawyers, labour activists and Hong Kong’s book publishers and distributors were unfolding dramatically, the year also witnessed the continued rise of China’s economic might culminating in the realisation of her initiative for the Asian Infrastructure Investment Bank (AIIB that started operation on 25th December 2015 and the continued progress of her “One Belt, One Road” (OBOR proposal after the creation of the State-owned Silk Road Fund on 29th December 2014. Such developments on China’s domestic and global fronts have to be properly placed in the overall context of China’s domestic-foreign policy nexus that has uniquely evolved during her recent decades of continuous, astounding economic tour de force amidst the stagnation of the modernisation and democratisation of her political structure and sociopolitical power configuration, and the rise of her influence in the global system.

Introduction – Political Governance and Strategic Relations: Domestic-Foreign Policy Nexus and China’s Rise in the Global System

Directory of Open Access Journals (Sweden)

Emile Kok-Kheng Yeoh

2016-04-01

Full Text Available Recent years have witnessed several momentous developments in the political economy of the People’s Republic of China (PRC both on the domestic front and in her foreign relations. Deriving correct interpretation of such fast-paced developments and changes has preoccupied much of the circles of China-watchers these days, with political scientists, economists, sociologists and international relations experts focusing their respective attention on either the domestic transformation occurring within the PRC or on her foreign relations. While the volatile series of incidents involving a year of crackdowns on domestic civil societal movements, civil rights lawyers, labour activists and Hong Kong’s book publishers and distributors were unfolding dramatically, the year also witnessed the continued rise of China’s economic might culminating in the realisation of her initiative for the Asian Infrastructure Investment Bank (AIIB that started operation on 25th December 201 5 and the continued progress of her “One Belt, One Road” (OBOR proposal after the creation of the State-owned Silk Road Fund on 29th December 201 4. Such developments on China’s domestic and global fronts has to be properly placed in the overall context of China’s domestic-foreign policy nexus that has uniquely evolved during from her recent decades of continuous, astounding economic tour de force amidst the stagnation of the modernisation and democratisation of her political structure and sociopolitical power configuration, and the rise of her influence in the global system.

FOREIGN INVESTMENTS IN RUSSIA IN 2013

OpenAIRE

Ekaterina Ilyukhina

2014-01-01

Foreign investment in the Russian economy in 2013 increased 10.1% year-o-year. The increase was triggered by the results achieved in Q1 2013. Foreign investment was concentrated in the industrial sector, trade, and financial sector. Manufacturing industry was leading in the industrial sector. Cyprus, Switzerland, and Great Britain were leading in volumes of investment in the Russian Federation.

Czech small and medium-sized enterprises and the success in foreign markets

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Lenka Procházková

2011-01-01

Full Text Available The importance of small and medium-sized enterprises (SMEs in national economies has been growing. For these reasons, SME’s are paid more attention. The paper deals with the success of Czech SME’s activities in the foreign markets. These enterprises exploited the opportunity of extensive European Union market without internal borders and extended its activities to foreign markets. The objective of this paper is to determine characteristics related to activities carried on by small and medium-sized Czech companies in the foreign markets and then to describe those that fundamentally affect the success of these entities in the foreign markets. The characteristics are divided into five groups (a group of characteristics relating to the company, product, management, international experience and a group of characteristics relating to the target market. The enterprises’ success in foreign markets is assessed by aggregate indicator of success. This indicator is monitored by multi-dimensional indicators of corporate success and evaluation of both objective and subjective. At the last part of the article due to analysis of relationship used, there are identified characteristics affecting the success of Czech small and medium-sized enterprises in foreign markets.

Free Market Institutions and FDI Performance in Emerging Asian Economies

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Vogiatzoglou Klimis

2016-12-01

Full Text Available This paper examines long-term developments in the quality and efficiency of free market institutional systems across thirteen emerging economies from South, South-east, and East Asia over the 1995–2014 period. The paper also empirically assesses the impact of free market institutions on a country’s inward foreign direct investment (FDI performance. We find that the free market institutional framework in most economies is still relatively inefficient, restrictive, and underdeveloped but has, nevertheless, substantially improved during the last twenty-year period. Our empirical results also indicate that a free market institutional system in a host-country is a factor that attracts inward FDI to emerging Asian economies by multinational companies. Consequently, policy makers should focus on further improving the quality of free market institutions.

Determinants of Foreign Direct Investment and Nigerian Economic ...

African Journals Online (AJOL)

This study on foreign Direct Investment determinants and the Nigeria's economy covering 38 years, was empirically done, and was discovered that exchange rate is a very important determinant influencing FDI inflow, and FDI is a significant variable influencing the economy (GDP) The study recommends that adequate ...

Domestic and foreign effects on prices in an open economy

DEFF Research Database (Denmark)

Juselius, Katarina

1992-01-01

Domestic price determination in Denmark is investigated using three kinds of macroeconomic explanations: (1) internal labor market theories describing the relation between price and wage inflation, (2) pure monetarist theories describing the effect of excess money on the inflation rate. and (3...... found to be the main determinants of the inflation rate. Among these, the domestic effects were small compared to the foreign effects. The empirical results strongly favored a backward-looking behavioral model in terms of structurally stable parameters as opposed to a forward-looking expectations model...

ROMANIAN FOREIGN TRADE - A REGIONAL PERSPECTIVE

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Gabriela Carmen Pascariu

2010-03-01

Full Text Available The increasing integration of Romania in the global economy is a reality of the last years, proved through a constant growth of the foreign trade with other countries, which exceeded, in terms ofdynamics, both GDP and industrial production. In the first part of our paper, we intend to analyze the evolution of Romanian foreign trade in the period 1995-2007, focusing on the proportions of the imports and exports, at regional level. We wish to emphasize the correlations between the indicators that describe the degree of openness to foreign trade and indicators of competitiveness and specialization in different industries. The main goal of our approach is to highlight the sectors which generate comparative advantages and potential competitiveness poles, contributing significantly to the increase of the Romanian economy, expressed in GDP/capita. In the second part of the paper, based on the frame of analysis and interpretation defined and implemented in the first part, we intend to establish if the agglomeration processes in some regions of ourcountry will lead gradually to the strengthening of growth poles and, therefore to boost the foreign trade.

Foreign Direct Investment and its Role in the Development of Greece

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Vasiliki DELITHEOU

2011-06-01

Full Text Available A distinctive characteristic of Global Economy over the last few decades has been the rising rate and impressive increase in Foreign Direct Investment (FDI globally. Due to the potential role that foreign direct investment may play in accelerating the growth rate and re-shaping the economy, many developing countries are seeking such types of investment that can multiply efforts being made towards the growth of their economy. Consequently, foreign direct investment has become an important source of private external finance for developing countries. For this reason, countries like Greece are attempting to focus on the implementation of policies that can attract specific FDI and thus achieve high rates of growth. Attracting FDI and the subsequent creation of sustainable enterprises that will provide an increase in jobs and will reinforce the productivity of the country, is today a national target.

Essays in Open Economy Monetary Policy

OpenAIRE

Castro, Pedro

2012-01-01

International economic integration has risen during the last decades and the interdependence between each economy and the rest of the world has become central for policy decisions. My dissertation contributes to the debate about the conduct of monetary policy in a financially integrated world. In the first chapter of the dissertation I discuss the relationship between domestic policies and the currency denomination of foreign debt. Foreign debt is a double-edged sword. It allows countries to ...

Exchange rate policy, growth, and foreign trade in China

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Gligorić Mirjana

2011-01-01

Full Text Available This paper analyzes a hot topic: the influence of an undervalued currency on macroeconomic variables - primarily on the economic growth and trade balance of a country, but also on employment, foreign exchange reserves, competition, and living standards. It also reviews and explains the consequences of yuan undervaluation, points out the need for its appreciation, and states the negative effects that stem from this measure. Special attention is given to the problematic bilateral relations between China and the USA and the reasons why Americans are worried about the exchange rate policy that China implements. Although yuan appreciation would decrease the American foreign trade deficit, it also raises the question of further financing of the American deficit. There are also other problems that the possible appreciation would cause for the American economy, due to the effect of J-curve, passthrough, larger costs of input imported from China, etc. Therefore, Chinese foreign exchange policy is an important subject, but it is not the solution to the problems of the global economy - which have deeper roots than that. However, there is no excuse for China implementing unfair exchange rate policies, or replacing such policies with controversial protectionist policies (as some authors have suggested.

Relative price level developments in the Baltic economies and lessons to learn from the crises. Suhteline hinnatase Balti riikide majandustes ja kriisikogemused

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Meelis Angerma

2012-01-01

Full Text Available Estonia and other Baltic countries experienced speculative boom in years 2004-2008. The boom resulted in rapidly rising relative price level or real exchange rate. Euro wages are used as proxies for bilateral real exchange rates. Rapid reversal of capital inflow created instantly short-term real exchange rate overvaluation. The data shows that some other developing countries, like Poland and Russia let their price level to adjust through depreciation of nominal exchange rate. Estonia and other Baltic countries decided to go through adjustment with deflation of prices and wages. This contributed to higher unemployment rate and GDP loss. The most positive way out appears to be restoration of foreign investors interest in local economy and raising equilibrium real exchange rate reducing likely real exchange rate overvaluation. The other important implication was that local businessmen and other individuals were too much risk-takers for volatile emerging market economy.

ANALYSIS OF BUSINESS ENVIRONMENT USING THE MULTI-CRITERIA APPROACH – CASE OF BALKAN’S TRANSITION ECONOMIES

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Saša Obradović

2012-02-01

Full Text Available Due to the lack of their own financial resources, attracting the foreign direct investment (FDI isthe main prerequisite for transitional economies in order to increase production and employment, sothat they can ensure the long term sustainable economic growth. In addition, the foreign directinvestment is an important instrument for the economy restructuring, based on market principles.However, achieving this goal is not simple at all. In order to attract foreign investors, it is necessaryto create a favorable business environment in transition countries, which requires a number ofeconomic, institutional, political and other reforms. The aim of this paper is to point out the mainfactors attracting foreign direct investment and, by using the multi-criteria approach, to rank theBalkan’s transition economies depending on the preferences of investors taking into account certaincomponents of the business environment.

Strategic imperative formation of foreign economic policy of Ukraine

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O. P. Borysenko

2015-10-01

Full Text Available Deep rethinking and thorough elaboration require a general plan for the development of the state management in the sphere of foreign economic processes - strategy formation and implementation of foreign economic policy of Ukraine. Formed in conditions of political and economic crisis, it is not aimed at providing qualitative change - innovation development, enhance national business investment, measuring asymmetry foreign trade balance, optimize the structure of imports, increasing competitiveness of Ukrainian goods and so on. Significant changes need in government regulation mechanisms of transformation processes, their system updates, meaningful transition to a model of a market transformations, which combined with effective self-governance. The purpose of the article is to explore the strategic principles of foreign economic policy formation, identifying directions Ukraine’s foreign economic strategy formation and ways to improve its effectiveness. Today in Ukraine needs logically consistent application of the basic model of strategy formation and implementation of foreign economic policy: strategy of protectionism, strategy of competitiveness and foreign economic trade integration strategy. The scale and fragmentation tasks are preventing their full implementation. For a targeted and effective state influence on the economy suggest to build a strategy of foreign economic policy on the principles of consistency, integrity, comprehensiveness, subordination, continuity, dynamism, system-creating relations.

Foreign direct investments and their impact on the economic development of Bosnia and Herzegovina

Science.gov (United States)

Susic, I.; Stojanovic-Trivanovic, M.; Susic, M.

2017-05-01

From the perspective of macroeconomic indicators, investment is a significant determinant of economic development in general, as well as the development indicator of economic entities in the micro segment. Investments are an essential element of any economic policy, because their implementation provides a platform not only for economic development, but also are prerequisite for the stability of economic and social trends. Foreign direct investment plays an important role in the financing of the global economy, and it represents the most frequent feature in financing the national economies of developing countries and countries in transition. Demand for foreign investment in the global market is large, and thus the governments have been conducting many activities in order to create a more favorable environment to attract investors. In this paper, special attention was paid to direct investments in financing the economy on a global scale, their importance for the development of the global economy and the impact of foreign direct investment in the economic development of Bosnia and Herzegovina. The major activities, which are necessary to be done to attract investments in the highest possible volume, have been emphasized. With the use of statistical and quantitative analysis, the paper shows that the inflow of foreign capital is one of the basic prerequisite of economic growth acceleration and that the inflow of foreign capital has a positive impact on the economic development of Bosnia and Herzegovina. By monitoring and analyzing the various instruments of foreign capital inflow, with an emphasis on investment in the free zone and a joint venture with foreign investors, it has been clearly pointed out the fact that they have diverse, but proven positive impact on macroeconomic variables in the economy of Bosnia and Herzegovina.

Foreign direct investments in Romania in EU28 framework

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Constantin Postoiu

2015-12-01

Full Text Available Foreign direct investments flows are perceived by economic policymakers and by economic researchers as one of the key - determinants of the process of adjustment and structural modernization of emerging economies. They are also recognized in the economic literature as an important source of economic growth. This research aims to identify whether FDI can contribute to the economic growth of a country and to estimate whether the foreign investors are attracted to investin economies that recorded successive growth rates. This approach involves the use of econometric tools and descriptive statistics to empirically support the assumptions made. Thus, for the quantitative analysis Eviews 7 and ArcGIS software tools were used. For the case study we analysed the Romanian economic situation in the current European context. First we take a look at the main evolution of foreign direct investment flows in the European Union. Subsequently we focus on the FDI flows into the Romanian economy and we test the links between these FDI flows and the economic growth process.

The place of foreign direct investment in the global economy

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Tomasz Gutowski

2011-06-01

Full Text Available Foreign direct investment (FDI plays an extraordinary and growing role in global business. It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, processes, products, organizational technologies and management skills and as such can provide a strong impetus to economic development. The sea change in trade and investment policies and the regulatory environment globally in the past decade, including trade policy and tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privitazation of many industries, has probably been been the most significant catalyst for FDI’s expanded role.

Foreign Direct Investments Expansion – Essential Globalization Factor

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Cătălin Emilian HUIDUMAC PETRESCU

2011-01-01

Full Text Available We live in a time when the world economy is constantly changing. Foreign direct investments is one of the most dynamic part of the world economy and in a continuous globalization, those international financial flows determining the traders to know their defining elements and to adopt a specific management in the international affairs field. We are viewers of an unprecedented expansion of foreign direct investments, essential factor of the globalization development process. The paper analyzes the evolution of FDI so far, along with a brief illustration as the main trends of international financial flows for 2010 and 2011. In the context of economic globalization, it is absolutely necessary to clear out a study on the various economic activities, especially on the differences between countries. The analysis of these differences is particularly important as it helps improve and optimize the strategies adopted by foreign transnational companies. In the past 15 years, one observes that most companies in emerging countries, characterized by a great expansion, have adopted in the first phase of their existence, corporate strategies that gave them the opportunity to become global companies. According to surveys, after reaching the first goal, becoming a multinational or a transnational company, they have developed new business models beyond the classical principles and strategies. It is anticipated that in the coming decades, the strategies of emerging companies will be influenced by functional specialization, which, according to experts, influence the process of globalization. The analysis of strategies adopted by companies in emerging countries is absolutely necessary because the results cannot be overlooked. For example, until 2004, only five Asian companies were part of the top 100 transnational companies. The study was carried out by UNCTAD and the identification criterion was the size of foreign assets. In 2006, 14% of world total FDI came from

Entry and Growth Strategies for Emerging Economies

DEFF Research Database (Denmark)

Meyer, Klaus E.; Tran, Yen Thi Thu

2004-01-01

to adapt their strategies, most notably their marketing and acquisition strategies, to the local context. In this paper, we outline why globalisation drives MNEs into emerging economies, and we provide conceptual frameworks that may aid investors to adapt their strategies to emerging economy contexts. MNEs...... requires the acquisition of complementary local resources controlled by local firms. However, acquisitions in emerging economies are inhibited by institutional obstacles and weak local firms. Thus, foreign investors may pursue staged, multiple, indirect, or Brownfield acquisitions to build their projected...... operation. We illustrate our proposed strategies by analysing how one multination enterprise - Carlsberg Breweries - has developed its operations in three very different emerging economies: Poland, Lithuania and Vietnam....

Attracting foreign direct investment under high risk and volatility of international financial markets

OpenAIRE

PARTACHI Ion; ARVINTE Vitalie

2009-01-01

International financial crisis caused significant reduction of investment flows, especially to emerging markets, vulnerable to external shocks and foreign exchange rate fluctuations. Under these conditions, decision factors are pushed to adopt changes in investment strategies in order to maintain competitiveness in attracting foreign investments needed to stabilize economy and continue development programs. Under the conditions of incertitude and high risks emerging economies adopted differen...

Corporate foreign exchange speculation and integrated risk management

DEFF Research Database (Denmark)

Aabo, Tom; Hansen, Marianna Andryeyeva; Pantzalis, Christos

2012-01-01

Purpose – The purpose of this paper is to investigate how non-finance departmental involvement in the management of exchange rate risks impacts the extent of foreign exchange speculation in non-financial firms. Design/methodology/approach – We survey non-financial firms in a small open economy...... (Denmark) to investigate the extent of foreign exchange speculation and how it is related to the degree of non-finance departmental involvement in the management of exchange rate risks. We employ binary and ordered probit regression analysis. Findings – We find a positive link between 1) the extent...... to which other departments than the finance department is involved in the management of exchange rate risks and 2) the extent to which the firm is likely to speculate – whether in the form of selective hedging or active speculation – on the foreign exchange market. Practical implications – Our findings...

The Competitive Potential of the Belorussian Economy

OpenAIRE

Migranyan, A.

2014-01-01

The article is an attempt to study the factors of the competitive capacity of Belorussian economy. There are two groups of factors of competitive potential and competitive advantages' formation: internal (changes in resource allocation) and external factors (adaptation to external shocks). The study found that the main source of the increase of competitive capacity of the Belorussian economy were foreign. The competitive potential of Belarus was formed on the basis of the increased exports. H...

Romanian Economy in the Interwar Period

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Gheorghe Stefan

2016-05-01

Full Text Available Resumption of economic progress Will Be slow, but unevenly but after overcoming the food crisis of 1920-1921, Romania will be able to deliver on economic recovery by attracting capital investment, Increase the number of enterprises and workers and especially by increasing the driving force and technical endowment of enterprises. The Central Authorities Legislation Will draw up related protectionist liberal economic doctrine “by ourselves” in most of the period, According to political algorithm and the result of Increasing domestic resource mobilization of capital while limiting the foreign capital in the Romanian economy.

Running for exercise mitigates age-related deterioration of walking economy.

Science.gov (United States)

Ortega, Justus D; Beck, Owen N; Roby, Jaclyn M; Turney, Aria L; Kram, Rodger

2014-01-01

Impaired walking performance is a key predictor of morbidity among older adults. A distinctive characteristic of impaired walking performance among older adults is a greater metabolic cost (worse economy) compared to young adults. However, older adults who consistently run have been shown to retain a similar running economy as young runners. Unfortunately, those running studies did not measure the metabolic cost of walking. Thus, it is unclear if running exercise can prevent the deterioration of walking economy. To determine if and how regular walking vs. running exercise affects the economy of locomotion in older adults. 15 older adults (69 ± 3 years) who walk ≥ 30 min, 3x/week for exercise, "walkers" and 15 older adults (69 ± 5 years) who run ≥ 30 min, 3x/week, "runners" walked on a force-instrumented treadmill at three speeds (0.75, 1.25, and 1.75 m/s). We determined walking economy using expired gas analysis and walking mechanics via ground reaction forces during the last 2 minutes of each 5 minute trial. We compared walking economy between the two groups and to non-aerobically trained young and older adults from a prior study. Older runners had a 7-10% better walking economy than older walkers over the range of speeds tested (p = .016) and had walking economy similar to young sedentary adults over a similar range of speeds (p =  .237). We found no substantial biomechanical differences between older walkers and runners. In contrast to older runners, older walkers had similar walking economy as older sedentary adults (p =  .461) and ∼ 26% worse walking economy than young adults (peconomy whereas walking for exercise appears to have minimal effect on the age-related deterioration in walking economy.

PRECONDITIONS AND DETERMINING CAUSES OF THE SHADOW ECONOMY IN UKRAINE

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Z. Varnalii

2014-03-01

Full Text Available The article analyzes the main processes that led to the high level of the economy shadowing. The historical aspects of the formation of the shadow economy in Ukraine are highlighted. The socio-economic aspects of the shadow economy of Ukraine causality are discussed. The theoretical contribution of foreign and domestic researchers on the preconditions of formation of the shadow economy in transition economies is studied. Theoretical perspective on the factors of the shadowing processes in the economy of Ukraine from the standpoint of modern scientific researches is analyzed. The paper also provides scientific vectors for further development of researches aimed at studying the causes and preconditions of the shadow economy.

Foreign Language Learning, Motivation and the Market Economy

Science.gov (United States)

Diamantatou, Christina; Hawes, Thomas

2016-01-01

This study explores UK students' motivation to study foreign languages, linking unrewarding past learning experiences with attrition rates and posing questions about the influence of official policy and socially structured conditions. 31 Further Education college students were given a questionnaire based on Gardner's (1975) Attitude/Motivation…

Major Problems and Countermeasures of Foreign Trade in China under the Background of Expanding Domestic Demand

OpenAIRE

Ruan, Wei-tong; Li, Yu-hong

2010-01-01

Starting from China's macro-economic policy level and combining with the status of foreign trade in China, major problems in the development of foreign trade are analyzed under the background of expanding domestic demand, which is guided by the macro-economy, international finance, international trade and other related disciplines. Problems are mainly the inflation, the reduction of import, the trade protection, the increase in export costs, the reduction of export, the scale shrinkage of for...

STUDY OF TIME LAPSE IN FOREIGN BODY ASPIRATION IN RELATION TO CHEST X - RAY AND TYPE OF FOREIGN BODY

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Salma

2015-10-01

Full Text Available INTRODUCTI ON: Foreign body aspiration in pediatrics is a potentially fatal accident which will continue until children explore their surroundings with their hand and mouth. Pediatric aspirations will persist until mankind exists. Not all foreign body aspirations are witnessed hence chances of delay in diagnosing an aspiration are high. Delay in diagnosis depends on site and character of foreign body aspirated. The chest x - ray findings and type of foreign body extracted vary depending on the duration the foreign body remains in airway . OBJECTIVE: To study the X - ray finding in pediatric airway aspiration and its relation to time lapse, the type and site of lodgment of foreign body extracted via bronchoscopy. The type of foreign body in relation to time lapse in aspiration. MATERIAL AND METHODS: This was a prospective study done in Bapuji child health institute and research center, JJM Medical College, Davangere . History and pre bronchoscopy x - Ray finding were noted for 65 children who were posted for suspicious bronchoscopy from August 2011 to September 2013. 11 children were excluded from study as they showed no foreign body on bronchoscopy. Time lapse in aspir ation and seeking medical care was noted. The bronchoscopic findings regarding site of foreign body lodgment and type of foreign body were recorded. The type of foreign body and variation of x - ray picture in relation to time lapse in aspiration were noted. Data collected was analyzed using descriptive statistics. RESULT: It was observed that mean age was 28 months. About 80% of the cases were between 1 to 3 years age. 82% (n=53/54 were radio lucent foreign body, only 1.5% (n=1/54 were radio o paque. Site of lodgment of foreign body was right main bronchus in 48% (n=26/54, left main bronchus 46% (n=25/54 , tracheal 1.85% (n=1/54, subglottic 1.85% (n=1/54, carinal 1.85% (n=1/54, multiple site i.e. left bronchus +right bronchus+ carinal 1.85% (n=1/54. Groundnut was most common

Domestic and Foreign Effects on Prices in an Open Economy

DEFF Research Database (Denmark)

Juselius, Katarina

1994-01-01

Domestic price determination in Denmark is investigated using three kinds of macro-economic explanations: (1) internal labor mar­ ket theories describing the relation between price and wage inflation, (2) pure monetarist theories describing the effect of excess money on the inflation rate, and (3...... model. The results stand up as quite strong evidence against the Lucas critiqueDomestic price determination in Denmark is investigated using three kinds of macro-economic explanations: (1) internal labor mar­ ket theories describing the relation between price and wage inflation, (2) pure monetarist...... found to be the main determinants of the inflation rate. Among these, the domestic effects were small compared to the foreign effects. The em­ pirical results strongly favored a backward-looking behavioral model in terms of structurally stable parameters as opposed to a forward- looking expectations...

Mitigating Double Taxation in an Open Economy

OpenAIRE

Lindhe, Tobias

2001-01-01

The interaction of various methods of mitigating economic and international double taxation of corporate source income is studied within a standard neoclassical model of firm behavior. The main purpose is to determine to what extent methods effective in mitigating economic double taxation in a closed economy remain useful in an open economy where the firm's marginal investor is a foreigner. While a cut in the statutory corporate tax rate invariably reduces the cost of capital, the impact of t...

The Determinants of Foreign Investment in Pakistan: A gravity model analysis

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Syed Waqar Azeem

2012-06-01

Full Text Available Background: During the last two decades Pakistan was one of the most attractive countries that received Foreign Direct Investment (FDI among developing economies, and especially in first half of the last decade the growth was so rapid and sustainable in different industries as well as in agriculture.  In Pakistani economy the role of Foreign Direct Investment is very important. Policies are clear about the foreign investment even then adjustments are made according to the time, objective, needs and economic circumstances in the country.  Methods: The present study aims to investigate the determinants of foreign investment in Pakistan by using Gravity model. By using panel data of FDI which is used as dependent variable and Gross domestic product, Gross domestic product per capita, Gross domestic product growth rate, Inflation rate, Trade, Total government expenditure, Population growth and Distance used as independent variable from 1999 to 2009 for empirical consequences, the study encompasses the examination of Foreign Direct Investment inflows from different countries and their geographical distance from Pakistan. Results:  Two type of test is used (1 fixed and (2 random effect to check the relationship among foreign direct investment and independent variables. In our both models distance shows a negative impact on the decision to make an investment by investing partner while GDP and GDP growth have a positive and significant impact. Gravity in this regards does not effect that much for foreign direct investment attraction because results are negatively significant in this case that shows higher distance is a hurdle for the inflow of foreign investment but rest of the variables are significantly positive and related to the inflow of foreign investment except population growth which is negatively correlated.   Conclusion: This research concludes that there is a strong evidence of existence of gravity between Pakistan and its investing

Problems of Foreign Economic Relations Development of Ural Regions with BRICS Countries

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Mikhail Ivanovich Maslennikov

2015-06-01

Full Text Available In the article, the basic vocabulary of BRICS countries, its regional tendencies of business development, and its share taken in the foreign-economic activity are analyzed. Contribution of different foreign trade fields of regions into economic development is revealed. Indicators of development levels of external economic links are reviewed. Alternative options of the foreign trade development, expenses and benefits from its reorientation, and the reason of low indicators of development of foreign trade activity of the Ural regions with BRICS countries are evaluated, and measures for their improvement and development are offered. The mechanism and tools of stimulation of foreign economic relations development of regions with BRICS countries are investigated. The internal and external motives and incentives of expansion of these relations are examined. The factors influencing the regional markets development and revealing multidirectional tendencies in activities of business, government, society for development of foreign economic relations of the Ural regions with BRICS countries, and first of all with Brazil, India, China and the Republic of South Africa are investigated. The export-import features of the foreign trade operations with these countries, and also possible ways and the directions of expansion of the prognostics of foreign economic relations in the conditions of toughening and restriction of similar operations and financial sources from the developed countries, first of all the USA and EU countries are represented. Author examines the reasons and scenario, problems and difficulties for the country and the Ural regions in refocusing of international economic relation from Western Europe to the South-East Asia countries. Real opportunities of participation of regions of the country in the import substitution and development of own resource and production base are analyzed. The research is focused on analysis of international economic

An empirical study of the substitution of foreign for domestic savings in Brazil

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Luiz Carlos Bresser-Pereira

2014-01-01

Full Text Available This study aims to investigate the relations between the level of the real exchange rate, foreign savings and domestic savings in Brazil. The appreciation of the domestic currency caused by financing the current account deficit reduces the expected profit rate in the tradable goods industry, leading to a drop in domestic savings and the substitution of foreign for domestic savings. An econometric analysis of the Brazilian economy indicates a stable long-term relation between the exchange rate and domestic savings, and that relative devaluations of the real exchange rate positively and significantly affect domestic savings in 1994–2013. The estimations’ results persist even after the period is divided into two samples, after tests showing the presence of a structural break in the model in 2002. In addition, the results of the estimations performed on the two samples confirm the presence of substitution of foreign for domestic savings.

Evaluation Of Democracy And Foreign Investment In Nigeria | Arinze ...

African Journals Online (AJOL)

This paper contends that a good indicator of confidence in the stability of Nigerian economy is the significant inflow of foreign direct investment. Foreign capital inflow to Nigeria in recent years has not been significant. The object of the paper is to examine how the current democracy contributed significantly to improvement in ...

Methods of currency risk management in foreign trade

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V.V. Ksendzuk

2016-03-01

Full Text Available Development of the country’s market national economy is closely connected with international economic relations. Therefore national business entities are actively involved in foreign trade, and their positive results influence not only on the status and income of owners, but form the economic potential of the country. The survey describes the main indicators of foreign trade and the impact of export and import transactions on economic development of Ukraine, particularly on the gross domestic income of the country. Taking into account also the negative trends in foreign currency exchange rates, the article considers the types of currency risks that accompany international transactions and identifies the limits of the usefulness of currency risk management methods. The methods of currency risk management are also systematized, the benefits of their use for the enterprise are considered and the status and readiness of Ukraine’s financial market to ensure appropriate conditions for the functioning of the currency risk management in domestic enterprises are analyzed.

The Political Economy of Extraterritoriality

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Paul B. Stephan

2013-06-01

Full Text Available Near the end of the 2009 Term the Supreme Court decided Morrison v. Australia National Bank, Ltd., the strongest anti-extraterritoriality opinion it has produced in modern times. Not only is Congress presumed generally to prefer only territorial regulation, but lower courts that had carved out exceptions from this principle over a long period of time must now revisit their positions. Again this year in Kiobel v. Royal Dutch Shell Co. the Court relied on an aggressive use of the presumption against extraterritoriality to cut back on an important field of private litigation. The Court appears to have embraced two related stances: The imposition of barriers to extraterritorial regulation generally advances welfare, and the lower courts cannot be trusted to determine those instances where an exception to this rule might be justified. Implicit in the Court's position are intuitions about the political economy of both legislation and litigation. I want to use the occasion of the Morrison and Kiobel decisions to consider the political economy of extraterritorial regulation by the United States. International lawyers for the most part have analyzed state decisions to exercise prescriptive jurisdiction over extraterritorial transactions in terms of a welfare calculus that determines the likely costs and benefits to the state as a whole. Fewer studies have considered the political economy of the decision whether to regulate foreign transactions. No work of which I am aware has considered the political economy of deciding the extraterritorial question through litigation. This paper seeks to fill these gaps by sketching out what political economy suggests both about extraterritoriality and the role of courts as arbiters of extraterritoriality.

78 FR 5873 - Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding...

Science.gov (United States)

2013-01-28

... Service 26 CFR Parts 1 and 301 Regulations Relating to Information Reporting by Foreign Financial... 9610] RIN 1545-BK68 Regulations Relating to Information Reporting by Foreign Financial Institutions and... (Code) regarding information reporting by foreign financial institutions (FFIs) with respect to U.S...

A Literature Review of Foreign Ownership and Company Performance

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Iuliana Oana MIHAI

2014-11-01

Full Text Available The purpose of this article is to review the results of research papers conducted in the area of foreign ownership impact on company’s performance and to highlight the specifics of this linkage in the environment of transition economies. Several authors have documented greater efficiency of private companies compared to state-owned. According to different studies, an alternative option for transition economies is foreign ownership. Recent studies show that the effect of ownership forms on companies and financial performance is more significant in Eastern European countries compared to developed countries. However, study results are often contradictory, therefore they require additional research.

The offshorization of economy: the present realities

OpenAIRE

Maslak Olga; Grishko Natalya; Hlazunova Olha; Vorobiova Kateryna

2017-01-01

In this article the essence and main types of offshore zones have been studied. It has been analyzed the main reasons for cooperation with the tax havens, established that the main reason of the Ukrainian economy offshorization is not only the desire of economic entities to optimize taxes, but also the desire to protect their assets from the negative impact of the crisis phenomena in the national economy during 2010-2016. The foreign experience of the anti-offshore regulation has been researc...

78 FR 55202 - Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding...

Science.gov (United States)

2013-09-10

... Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain... (78 FR 5874). The regulations related to information reporting by foreign financial institutions (FFIs... foreign branch of a U.S. financial institution that is a reporting Model 1 FFI must withhold in accordance...

Human Capital Influences in FDI in Eastern European Economies

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Shpresim Vranovci

2016-11-01

Full Text Available Despite the increase of total foreign direct investments (FDI in developing countries, the distribution of these investments among countries is disproportional. The inflows have been directed only to a limited number of developing countries. The most significant effect of FDI on the country’s economy is the injection of needed capital and employment to overcome the gap between the savings of a developing economy, which does not invest much in new business, hindering so the employment increase. The idea that possible determinants of FDIs are not only determinants of economic nature, but also other factors that have impacts in attracting FDI inflows are progressively increasing. New studies realized that social capital is a factor, which is considered by foreign enterprises before investment decisions.

THE MAIN FEATURES OF THE FLOWS OF FOREIGN DIRECT INVESTMENTS IN ROMANIA

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Elena Chirilă-Donciu

2012-10-01

Full Text Available A distinctive characteristic of The Global Economy over the last few decades has been the rising rate and the impressive increase in the Foreign Direct Investment (FDI globally. Due to the potential role that foreign direct investments may play in accelerating the growth rate and re-shaping the economy, many developing countries are seeking such types of investments that can multiply the efforts being made towards the growth of their economy. The purpose of this research is to analyze the flows of foreign direct investments in Romania between 2003 and 2010. The results of the research highlight the negative balance between the trade balance and the enterprises with FDI in 2007-2010, due to the financial crisis, to the fragile budget balance, due to the low competitiveness of the imports, the low quality of the Romanian products and the macroeconomic risk determined by the rate of inflation, the unemployment and the instability in the exchange rate.

Unrecorded capital flows and accumulation of foreign assets: the case of Croatia

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Goran Vukšić

2010-03-01

Full Text Available This paper evaluates the magnitude of unrecorded capital flows and the resulting unrecorded accumulation of foreign assets for Croatia, over the period between 2000 and 2007. The problem of unrecorded capital outflows, often labeled as capital flight, has gained significance in the present global financial and economic crises, because of increasing capital scarcity in many emerging markets and transition economies including Croatia. The findings reveal relatively large amounts of unrecorded foreign asset accumulation over the observed period. A large portion of this accumulation relates to cumulative amounts of net errors and omissions term, which is interpreted as unrecorded capital flow. There are reasons to believe that this net errors and omissions item in Croatia possibly partly represents the unrecorded accumulation of foreign cash from foreign tourist spending, and/or partly results from overstated tourism income in the official statistics.However, even after excluding this item from the calculation of capital flight, the remaining unrecorded accumulation of foreign assets over the period is still substantial. Consequently, if these unrecorded flows are taken into account, Croatia’s net international investment position is improved.

Foreign Under-Investment in US Securities and the Role of Relational Capital

OpenAIRE

Michael, Bryane

2015-01-01

Over 70 academic papers attempt to explain why foreigners invest in US securities. All ignore the vital role of the US broker-dealer. Macroeconomic factors like a trade balance or corporate governance may guide foreign investors toward certain markets. But US broker-dealers provide information to foreign investors and execute the actual trades. We hypothesize that particular foreign investors under-invest in US securities because of a lack of relational capital with US broker-dealers. We find...

Influence of Foreign Direct Investments on Commodity Exchange of the Republic of Croatia

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Goran Marijanović

2009-12-01

Full Text Available Almost all countries of the world try to ensure accelerated development of their economies with the help of foreign direct investments. Since the foreign direct investments, in addition to capital, potentially ensure the transfer of contemporary technology, management and marketing knowledge and skills respectively, they can be a signifcant growth factor of competitive abilities of national economies and involvement of countries into international exchange. Trough the RCA method and “Trade Overlap” index, this paper analyzes the infuence of foreign direct investments on the comparative advantages and specialization degree in international commodity exchange for the selected group of transition countries and the Republic of Croatia. The paper tries to determine how much the foreign direct investments have infuenced the structure change of the foreign trade exchange and whether they have contributed to export growth of more complex groups of products in the observed period.

Foreign Direct Investment and its Spillover Efficiency in China

OpenAIRE

劉, 黄金

2004-01-01

In this paper, we review the development process and its characteristics of inward foreign direct investment (FDI) in China. Using the latest data of Jiangsu province, we test the spillover efficiency of FDI. We find that FDI has spillover efficiency in Jiangsu's economy, but the smaller the technology gap between domestic and foreign enterprises, the larger the spillovers.

Current Trends in Foreign Trade Theory and Policy

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Zdzisław W. Puślecki

2017-12-01

Full Text Available In this research work, Author focus on the current analysis trends in foreign trade theory and policy. Accordance with the foreign trade policy theory further trade liberalisation and improved framework policies would increase trade and promote growth. It must be emphasized that openness to trade is associated with higher incomes and growth and there is the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests. First of all, it must underline that in the new theoretical terms in demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region’s economy. On the other hand, some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region’s economy but are industry specific. The main objective of the research task is to give a comprehensive analysis of current trends in foreign trade theory and policy and in particular models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, foreign trade policy in different types of authoritarian regimes, protectionist pressures in different political system, the level of protectionist pressures, the tendencies to bilateralism in the foreign trade policy. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment.

Financial Frictions, Foreign Direct Investment, and Growth

OpenAIRE

Luis San Vicente Portes

2010-01-01

This paper assesses the role of financial frictions and Foreign Direct Investment (FDI) on an economy´s growth rate, business cycle volatility, and firm´s capital structure. We gauge these effects within the Financial Accelerator framework, where entrepreneurs can establish affiliates of local firms abroad through Foreign Direct Investment. Model simulations suggest that in the presence of credit market imperfections FDI is associated with faster growth, less leverage, and lower aggregate vol...

Germany's energy policies from 1960 to 1980 against the background of foreign trade relations and foreign politics

International Nuclear Information System (INIS)

Czakainski, M.

1993-01-01

There is hardly another area of politicis where the wishes and interests of different social groups clash so hard with facts and realities as the area of energy politics. The following article looks at Germany's energy politics between 1960 and 1980, it tries to highlight the vanifications of foreign trade relations and explain their impact on energy politics and on the resulting tensions on the area of foreign politics. (orig.) [de

Capital income taxation in a growing open economy

DEFF Research Database (Denmark)

Nielsen, Søren Bo; Sørensen, Peter Birch

1991-01-01

The paper studies the dynamic macroeconomic effects of various forms of capital income taxation in a model of a small open economy with perfect mobility of financial capital and intertemporal optimization on the part of households and firms. One of the noteworthy results is that the introduction...... of a (low) corporate income tax will not affect consumption in the long run, but will simply lead to a replacement of shares by foreign financial assets in household portfolios. It is also found that an anticipated investment tax credit can have and that an anticipated dividend tax will have contractionary...... effects on investment before they are introduced. Moreover, it is shown that while an unanticipated dividend tax is neutral with respect to investment, it will have real effects on consumption and net foreign assets in a growing economy...

Multinational Corporations and Foreign Direct Investments in Romania. Effects on the Romanian Trade

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Catana Adina Mihaela

2011-12-01

Full Text Available This paper focuses on the study of transnational corporations and their business development through foreign direct investments made in other countries, mostly greenfield type countries. The objective of this paper is to determine the impact of these companies enlargement on the Romanian retail market, especially on the consumer goods market. Transnational companies have experienced a very dynamic economic growth, enjoying success at first in their country and then expanding to other countries. As independent players on the international market, multinational corporations are becoming more and more powerful every day. Most of these companies record annual sales of ten million dollars each. The most important aspect of business globalization is the interdependence between national economies. In this process, Foreign Direct Investments have an important role, given the fact that the internal resources are not enough to ensure the development and support of businesses hence the need to obtain external resources. Generally, FDI have a strong training effect both in the national and global economy, providing the replacement and modernization of techniques and technologies, increasing production and supply of goods, improving their quality and competitiveness, creating new jobs and growing the quality of life. Thus, each national economy is building its economic development strategy in which investments have a predominant role. Foreign Direct Investment is a major driver of globalization that characterizes the modern economy. Increasing of Foreign Direct Investment flows, accompanied by the increasing of the portfolio investments, highlights the major role played by transnational corporations, especially in developing economies and transition economies. The most important areas in which FDI was made in Romania are: financial intermediation and insurance, trade, construction and real estate, information technology and communication. The entering of

EFECT OF FOREIGN EXCHANGE RATE FLUCTUATIONS ON NIGERIAN ECONOMY

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Lawrence Olisaemeka UFOEZE

2018-03-01

Full Text Available This study investigated the effect of exchange rate fluctuations on Nigerian economy. The fixed and floating exchange eras were compared to know the exchange rate system in which the economy has fairly better. The time period covered was 1970 to 2012. The study employed the ordinary least square (OLS multiple regression technique for the analysis. The coefficient of determination (R2, F-test, t-test, beta and Durbin-Watson were used in the interpretation of the results. The resulted revealed that about 85% of the changes in macroeconomic indicators are explained in the fixed exchange era. In the floating exchange era, 99% was explained while the whole periods has 73% explanatory power, hence the floating exchange era (1986 to date is more effective in explaining economic trend in Nigeria. Also, exchange rate has significant positive effect on GDP during the fixed exchange rate era and negative effect the eras floating and all-time; inflation has insignificant negative effect on GDP during the fixed exchange era; significant effect in floating era and significant negative effect in the all-time period; money supply has insignificant negative effect GDP in fixed exchange era; and significant positive effect during the floating and all-time period; and oil revenue has significant positive effect on the GDP in all the exchange rate regimes (floating, fixed and all-time in Nigeria.  The study thus conclude that exchange rate movement is a good indicator for monitoring Nigerian economic growth. So far exchange rate has always been a key economic indicator for Nigeria. The floating exchange period has outperformed the fixed exchange rate in terms of contribution inflation, money supply and oil revenue to economic growth. This indicate that the floating exchange rate has been a better economic regime for sustainable economic growth in Nigeria. From the findings, it is evident that oil revenue has positive effect in Nigeria and has remained the mainstay

DIRECT FOREIGN INVESTMENTS AND THE LACK OF POSITIVE EFFECTS ON THE ECONOMY

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Suzana Djordjevic

2015-12-01

Full Text Available In recent years, Croatia was interesting to investors in attracting foreign direct investment. One of the objectives of this research was to deal with their negative effects. Most of invested capital was invested in brownfield investments, i.e. in taking over the ownership share of companies through privatization. Consequently, revenues were spent to settle financial debts and not on the growth and development of competitiveness. According to economic theory, foreign direct investments have a positive impact on the economic growth of the recipient country. This paper attempts to answer the question: ‘Is the economic theory confirmed in the Croatian case?’ The aim is to analyse the impact of foreign direct investments on the economic growth of Croatia in the period from 1999 to 2014. The paper analyses the impact that direct foreign investments had on the unemployment rate, GDP per capita and export using the model of linear regression.

Abnormal profitability and foreign investment based on the investigation of covered interest parity

Science.gov (United States)

Huang, Bor-Yi; Chiou, Jer-Shiou; Wu, Pei-Shan

2007-10-01

Most literature focuses on how foreign investment and the market returns are related. Instead, this study attempts to identify the origin of abnormal behavior by foreign investors, as well as the relationship among the error in covered interest parity (ECIP), foreign investment (INV), and stock returns (RS). This study finds that the behavior of ECIP can be accurately represented by the ARJI model, which is capable of describing sudden jumps in the economy. Consequently, CBP-ARJI thus provides an effective means of studying the interaction among underlying variables. Empirically, ECIP has a negative statistical significant influence on foreign investment. While RS and INV have no mutual volatility spillover effect, they have a close correlation in terms of jump intensity. The previous jump of INV had more impact on current INV, while RS had little impact. The early withdrawal of foreign investment causes stock indexes to fall, creating potential losses for general investors. Foreign investment thus observes abnormal ECIP behavior, while leading the market movements, are always better off.

Smallish foreign direct investment, sluggish growth: Can ...

International Development Research Centre (IDRC) Digital Library (Canada)

2010-12-08

Dec 8, 2010 ... Since the 1990s, foreign direct investment (FDI) has been on the rise worldwide. ... to developing countries, mainly the fast-growing economies of East Asia. ... besides Brazil, and to entrust these subsidiaries to develop global ...

Alternative Monetary Systems in the Context of Managing the National Economy

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Vartsaba Vira I.

2017-12-01

Full Text Available The aim of the article is to investigate alternative monetary systems, each of which can be an algorithm for managing the national economy. By analyzing, systematizing and summarizing the scientific works of both foreign and domestic scientists, it is established that money is a phenomenon capable of managing the socio-economic relations in the time and space development coordinates following the institutionalized functioning algorithms. There justified the informational nature of money, i.e., that money is artificial information, a peculiar way of understanding social and economic relations, since the monetary subsystem is algorithmizing social and economic relations and is a derivative of the functioning and development of the national economy. The effectiveness of the national currency depends on the built-in algorithms of its functioning, which are realized in the model of the national economy. The study reflects the basic variations of potential alternative monetary systems. In particular, world money, the issuers of which are highly developed countries; S. Gesell’s “free money”; S. Sharapov’s “absolute money”; money secured by commodity values; private money; virtual money — electronic money and crypto currency, etc. Given that the socio-economic system of Ukraine as a synergetic system have been in a state of bifurcation for a long time, the article considers and proposes the most effective way of the development and functioning of the monetary system in the context of a harmonious interrelations with the national economy in time and space coordinates by direct emission of money for innovative projects of development of the national economy. Prospects for further research are the trans-scientific paradigm of managing the national economy.

The "Celtic Tiger" and a Knowledge Economy

Science.gov (United States)

Crawley, Gerard M.; O'Sullivan, Eoin

2006-01-01

Over the last two decades, Ireland has proactively marketed its educated workforce, its favourable corporate tax rates, membership of the European common market, and other advantages, to multinational technology corporations. The resulting foreign direct investment in high-tech manufacturing operations has driven a booming Irish economy that has…

GLOBALIZATION AND FOREIGN DIRECT INVESTMENTS

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Elena Chirilă – Donciu

2013-07-01

Full Text Available Mobilizing financial resources to cover investment needs is a concern of all countries, developed or developing ones, of consolidated market economies or emerging ones. A distinctive characteristic of Global Economy over the last few decades has been the rising rate and impressive increase in Foreign Direct Investment (FDI. The purpose of this research is to analyse global FDI inflows in Europe and in Romania. The results of the research support the idea that the balance of economic power is changing in the world economy and the countries that own a stable and solid industrial base are at an advantage. The new trends determined by the economic crisis in the field of FDI refer to the growing percentage of developing and emerging countries in the global flows of FDI.

FOREIGN EXPERIENCE OF SOCIAL ENTREPRENEURSHIP DEVELOPMENT

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N. Ignatovych

2014-12-01

Full Text Available The theoretical and applied aspects of forming and realization conception of social entrepreneurship are considered in the world economy. The main features of social entrepreneurship are distinguished. On the basis of generalization foreign experience of social entrepreneurship realization are certained its organization leading forms, in particular, unprofitable private organizations, business with social mission, social co-operatives, and also priority spheres and basic directions of modern development. The features of social entrepreneurship state support are investigated in the different countries of the world. Differences between European models and The USA model of social entrepreneurship are shown, pointed reasons of these differences. Foreign experience of social entrepreneurship is very important for Ukrainian social enterprises development. In unstable political situation and in period of financial crisis with production reducing and high inflation only social entrepreneurs can make economy conditions better. Also there is pointed the important role of legislative power for creating favorable conditions.

Increase in pediatric magnet-related foreign bodies requiring emergency care.

Science.gov (United States)

Silverman, Jonathan A; Brown, Julie C; Willis, Margaret M; Ebel, Beth E

2013-12-01

We describe magnetic foreign body injuries among children and obtain national estimates of magnetic foreign body injury incidence over time. We searched the National Electronic Injury Surveillance System for cases of magnetic foreign bodies in children younger than 21 years in the United States, from 2002 to 2011. Cases were analyzed by location: alimentary or respiratory tract, nasal cavity, ear canal, or genital area. We identified 893 cases of magnetic foreign bodies, corresponding to 22,581 magnetic foreign body cases during a 10-year period (95% confidence interval [CI] 17,694 to 27,469). Most magnetic foreign bodies were ingested (74%) or intranasal (21%). Mean age was 5.2 years for ingested magnetic foreign bodies and 10.1 years for nasal magnetic foreign bodies (difference 4.9; 95% CI 4.1 to 5.6), suggesting different circumstances of injury. The incidence of pediatric magnet ingestions increased from 2002 to 2003 from 0.57 cases per 100,000 children per year (95% CI 0.22 to 0.92) to a peak in 2010 to 2011 of 3.06 cases per 100,000 children per year (95% CI 2.16 to 3.96). Most ingested magnetic foreign bodies (73%) and multiple magnet ingestions (91%) occurred in 2007 or later. Patients were admitted in 15.7% of multiple magnet ingestions versus 2.3% of single magnet ingestions (difference 13.4%; 95% CI 2.8% to 24.0%). Magnet-related injuries are an increasing public health problem for young children, as well for older children who may use magnets for play or to imitate piercings. Education and improved magnet safety standards may decrease the risk small magnets pose to children. Copyright © 2013 American College of Emergency Physicians. Published by Mosby, Inc. All rights reserved.

The Research of Foreign Exchange Exposures in Taiwan

OpenAIRE

Chen, Yi Chen

2006-01-01

The research will be mainly focused on the relationship between the stock returns and the fluctuation of foreign exchange rate exposure in Taiwan listed corporations. Due to the environmental limitations and in sufficient resources, if Taiwan inclines to develop international trade, the exchange market plays an important role in the advances of Taiwan's economy. Therefore, the fluctuations of foreign exchange rate must have a substantially impact on the profitability of industries in Taiwan.

TRENDS IN THE EVOLUTION OF WORLDWIDE FOREIGN DIRECT INVESTMENTS

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Maria Ramona Sarbu

2014-06-01

Full Text Available The flows of foreign direct investments constitutes a major component of the phenomena that manifest themselves in the world economy, these representing financial resources geared toward a particular investment area that allow those who invest to develop operations over which they have the control and the decision-making power. Given the fact that the world economy is characterized by the increasing interconnectedness of national states as a result of spreading the links in the spheres of economic, political, social and cultural life, following starting with 2008 a period of unusual developments, the purpose of the paper is to analyze the evolution of worldwide foreign direct investment (FDI inflows, before and after the onset of the global economic crisis.

3 CFR - Delegation of Certain Functions Under Sections 603-604 and 699 of the Foreign Relations...

Science.gov (United States)

2010-01-01

...-604 and 699 of the Foreign Relations Authorization Act, Fiscal Year 2003 (Public Law 107-228... Functions Under Sections 603-604 and 699 of the Foreign Relations Authorization Act, Fiscal Year 2003...-604 and 699 of the Foreign Relations Authorization Act, Fiscal Year 2003 (Public Law 107-228). You are...

Post acquisition business synergies of a foreign affiliate. Case study of companies in Nuevo Leon

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Luis Cabeza

2016-09-01

Full Text Available This article will explain the importance of creating synergies after having acquired foreign affiliates. Interviews were conducted to executives of four of the most important manufacturing companies in Nuevo Leon, which have been involved in the international acquisition process of foreign affiliates. Also presented are 10 areas where synergies may be obtained after having acquired a foreign affiliate, in accordance with (Marin and Ketelhohn, 2008 economies of size at corporate headquarters, greater opportunities for professional development, corporate image, interdivisional transactions, vertical integration, economies of scale and/or scope, coordination of skills, learning center, leverage of intangible assets and unleashing of skills.

Influence of the economy crisis on project cost management

Science.gov (United States)

Simankina, Tatyana; Ćetković, Jasmina; Verstina, Natalia; Evseev, Evgeny

2017-10-01

Economy crisis significantly affects primarily the project cost management. The article considers the problems of project management in the field of housing under conditions of economy crisis. Project budgets are reduced, their mutual interference grows and framework of risks changes. Apparently, specific approaches are required to be developed to optimize the expenses and guarantee the project implementation within the approved budget. There is considered domestic and foreign experience in terms of project cost management with involvement of BIM technologies.

Turkey’s Foreign Trade as a Driver of Economic Development

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Nigyar R. Masumova

2016-01-01

Full Text Available Turkey now is a regional leader due to economic success story of the past decade, changes in the economy's structure and dynamic. Since 1980th foreign trade has become the main driver of the economic growth. Due to liberalization policy Turkey was able to overcome the system crisis. The negative economic trends had contributed to the political instability. That's why it will be interesting to highlight some aspects of Turkish foreign trade policy, which influence the value, geographical and product orientation of foreign trade. Negative balance of trade is the result of its oil import dependence. But the export of goods with more value added has the trend to growth - 30% of exports come to machineries and transport equipments. After the collapse of the USSR Turkish-Russian economic relationship was facing revival. Trade and investment cooperation was developing rapidly. But the conflict of interest during the war in Syria led to growing differences between Russia and Turkey. 24th of November 2015 became a turning point for the Russian-Turkish relations, when Turkish fighter jet F-16 shot down a Russian military jet along the Syrian border. This tragedy had serious consequences for the bilateral economic relations. Huge investment pipeline project "Turkish stream" is freezed, the work of intergovernmental authorities is stopped, certain agricultural goods originated from Turkey is banned to the territory of the Russian Federation. Russia also suspended the visa-free regime for Turkish citizens, all charter flights to Turkey are prohibited. Nevertheless economic sanctions inevitable affect both the Turkish and Russian economies, but Russia is still one of the main partners of Turkey.

MULTINATIONAL COMPANIES AND FOREIGN DIRECT INVESTMENT

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Lucia P. BLĂJUȚ

2014-11-01

Full Text Available This paper highlights the significant share of multinational companies in international trade that are a factor of developing global economies. In the context of economic globalization the activity of multinational companies and their foreign direct investment have a strong impact on the host country which presents advantages and disadvantages for them. The main objective of this article is the review of the important role played by multinationals in economic development, especially in developed economies. In the economies in which they operate, they bring capital, technology transfer, improve the national reputation and influence the other companies to invest in this countries, they provide a substantial source of revenue for the government and always improve the balance of payments in the host country.

Foreign Relations: Figuring Faith and Femininity in the Age of Rubens

OpenAIRE

Lyon, Jamie Vanessa

2011-01-01

Abstract Foreign Relations: Figuring Faith and Femininity in the Age of Rubens by Jamie Vanessa LyonDoctor of Philosophy in History of ArtUniversity of California, Berkeley Professor Elizabeth Honig, ChairThe first part of my title, Foreign Relations, is meant to conjure up the many valences of this phrase in the life and works of Peter Paul Rubens (1577-1640). On the most obvious level, it points to his part time employment as a multi-linguistic diplomat negotiating peace on behalf of the ...

Caspian oil and Azerbaijan foreign policy: analyse of Azerbaijanese arguments

International Nuclear Information System (INIS)

Gurbanov, T.

2005-03-01

Since Azerbaijan's independence, He decided to use its natural resources for strengthening the bases of a new state and signed 21 massive oil contracts with 35 companies of 21 different countries. Our research aims to analyse the Azerbaijanis' arguments related to Caspian oil through its foreign policy, by economic, legal and geopolitical axes. Oil has a fundamental place in the country's economy, as it is Azerbaijan's Gross Product. The treaties of 1921 and 1940 do not regulate the question concerning the common use of the resources of the Caspian Sea. Therefore, it became urgent to define new status related to divide the sea by median line into national sectors according to the equidistance principles. As the oil is a 'political game' between foreign powers, Azerbaijan tries to take the benefice from this 'New great game' by transforming the country into a zone of cooperation. (author)

The Development of Service Sector in the Economy of Ukraine

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Melnyk Tetyana M.

2018-01-01

Full Text Available The article is concerned with the topical issue of the importance of the service sector in economy of Ukraine with the purpose of identification of directions of promoting the national services in foreign markets. Consideration of this issue is carried out on the basis of studying tendencies of foreign trade in services in Ukraine in comparison with global tendencies. The review of scientific sources in this direction indicates that discussions about the prospects of development of tertiary sector in the context of groups of countries according to the level of economic development are being held among scholars. The article characterizes the current trends in the development of world trade in services, assesses the proportion of individual groups of countries in the foreign trade in services. The geographical structure of exports of services of Ukraine was analyzed. Tendencies of trade in information-communication services were researched. The contribution of certain economic activities to the formation of GVA has been evaluated. The reserves for expansion of potential of service sector in the economy of Ukraine have been defined. The prospective direction of further scientific researches in this direction is identification of instruments of promotion of exports of national services to foreign markets.

PROBLEM ASSESSMENT OF THE LEVEL INVESTMENT ACTIVITY IN THE NATIONAL ECONOMY

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Tatiana ANDREEVA

2013-01-01

Full Text Available In this article the fundamental importance of the investment sphere, forming of factors of production and defining the competitiveness of the national economy, as well as some of the problems of evaluation of the level of investment made in the national economy, the problems of attracting foreign direct investment, as the most important conditions for sustainable growth of the national economies. The special attention in the article is paid to the methods of factor analysis of the investment climate, as well as the General trends of changes in the business environment, as basic conditions for improving the level of investment activity of the national economy.

Institutional Field for Outward Foreign Direct Investment:

DEFF Research Database (Denmark)

Marinova, Svetla Trifonova; Child, John; Marinov, Marin Alexandrov

2012-01-01

The paper AU :3 explores the stages of development of an outward foreign direct investment (OFDI) institutional field during periods of major system change in big emerging economies. The state and its agencies appear to be the principal institutional entrepreneurs in developing the OFDI...

HUNGARY, POLAND, THE CZECH REPUBLIC AND RUSSIA: ECONOMIC GROWTH AND FOREIGN DIRECT INVESTMENTS

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Dementiev N. P.

2017-06-01

Full Text Available The article examines the role of foreign direct investment (FDI in the economic development of Hungary, Poland and the Czech Republic in recent decades. It is shown that the high rates of economic growth achieved by these countries in the pre-crisis years were closely linked to large foreign loans. The governments placed special emphasis on the attraction of FDI in high-tech export industries having very high growth rates (motor vehicles, machinery, equipment, computers, electronics and optics. For this purpose, central banks maintained an undervalued exchange rate of national currencies. As a result, adverse foreign trade balance in each of the three countries has shown a surplus in recent years. Furthermore, the disadvantages of excessive foreign loans are listed: high interest and dividend payments to foreign investors, reduction of national and economic sovereignty. For example, more than half of the Czech economy is under the control of foreign investors. Foreign direct investment in the Russian economy is also briefly discussed. It is shown by comparing the data of the Bank of Russia and the Eurostat that more than half of FDI in Russia is made through so-called special purpose entities (SPE and would be only formally considered a direct investment.

STATE INTERVENTION IN THE ECONOMY

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Andreea-Elena, BURDUF (MIERLARU

2014-11-01

Full Text Available Starting from the deffinition of protectionism, an economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow, according to proponents fair competition between imports and goods and service produced domestically, I am compelled to find Manoilescu's vision of economy. Was this system of political and economic measures of protection of national products from similar foreign products Manoilescu's vision? In the spirit of clasical protectionist doctrine, Manoilescu thought that the focal point of economy was the national economy, the sum of production assets and a conglomerate of individual traders. Amongst national production assets the foremost is the labour, capital and the others having only secondary importance in direct comparison. After the great depression of 1929, his book, The theory of protectionism and international exchanges , was the basis for justifying protectionism in Brazil while in Romania he had to face hostility from authorities, making it impossible for him, even if for several months in 1931 he was the Governor of the National Bank, to apply his vision to end the economic crisis in Romania. M. Manoilescu analyzed the state's economic role and how this is reflected in modern economic science. He saw the state as having the role of setting certain convergent common goals for the whole society and to set rules that removes free will in economic decisions, thus creating the premises for a regulated economic space, based on the transition from little rationale of firms to big rationale of national economy. He demonstrated the necessity of state intervetionism, he has shared the conviction that through the alignment of the Romanian economic strategy to the one from the developed countries the lagging behind of Romania could be surpassed. M. Manoilescu took the occidental type economic policies of the time

The Real Effects of Foreign Inflation in the Presence of Currency Substitution

OpenAIRE

Charles Engel

1987-01-01

The paper explores optimizing models of small open economies that hold foreign money balances. Particular attention is paid to the impact of foreign inflation on the real exchange rate and other real variables. At first, an environment in which foreign money is the only traded asset is explored. This is compared to a more general setting in which many assets can be traded. The effect of foreign inflation on domestic real variables depends on: 1) the degree to which it causes a substitution ou...

Impact of Globalization in Kosovo’s Economy

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MSc. Nexhat Shkodra

2013-12-01

Full Text Available The economy in Kosovo continues to generate macroeconomic growth and solid stability, especially in fiscal and financial terms. Despite the increasing risks from the external sector, Kosovo’s economy has marked positive growth rates in 2012 also. Nevertheless, being an open economy, it has not been spared of the effects of the crisis faced direly by some of the most developed countries, and especially those in the Eurozone, which have shrinked the growth rate in comparison to previous years, despite it being positive. These risks mainly are reflected into the adverse impacts of the crisis on external demand for Kosovo products (along with an already low export rate, and by a lighter impact on migrant remittances, and a stronger impact on foreign direct investment. The decline in remittances has been smaller than forecasted, mainly because migration in Kosovo is of longer term in nature, and 70% of our migrants possess foreign citizenships. The banking sector has remained solid, with private sector deposits and loans continuing to increase in 2009 and 2010. There is still evidence though, that banks have become more prudent in extending loans, mainly due to the fact that bad loans are increasing at a slow pace. Adverse impacts of the global financial crisis have been compensated by an expansionist fiscal policy adopted by the Government, thereby ensuring medium growth rates.

Financial Security and Optimal Scale of Foreign Exchange Reserve in China

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Guangyou Zhou

2018-05-01

Full Text Available The study of how foreign exchange reserves maintain financial security is of vital significance. This paper provides simulations and estimations of the optimal scale of foreign exchange reserves under the background of possible shocks to China’s economy due to the further opening of China’s financial market and the sudden stop of capital inflows. Focused on the perspective of financial security, this article tentatively constructs an optimal scale analysis framework that is based on a utility maximization of the foreign exchange reserve, and selects relevant data to simulate the optimal scale of China’s foreign exchange reserves. The results show that: (1 the main reason for the fast growth of the Chinese foreign exchange reserve scale is the structural trouble of its double international payment surplus, which creates long-term appreciation expectations for the exchange rate that make it difficult for international capital inflows and excess foreign exchange reserves to enter the real economic growth mechanism under the model of China’s export-driven economy growth; (2 the average optimal scale of the foreign exchange reserve in case of the sudden stop of capital inflows was calculated through parameter estimation and numerical simulation to be 13.53% of China’s gross domestic product (GDP between 1994 and 2017; (3 with the function of the foreign exchange reserves changing from meeting basic transaction demands to meeting financial security demands, the effect of the foreign exchange reserve maintaining the state’s financial security is becoming more and more obvious. Therefore, the structure of foreign exchange reserve assets should be optimized in China, and we will give full play to the special role of foreign exchange reserve in safeguarding a country’s financial security.

77 FR 9021 - Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding...

Science.gov (United States)

2012-02-15

... Service 26 CFR Parts 1 and 301 Regulations Relating to Information Reporting by Foreign Financial...-121647-10] RIN 1545-BK68 Regulations Relating to Information Reporting by Foreign Financial Institutions... respect to withholding and reporting under chapter 4. If a territory financial institution is a flow...

SOME ASPECTS OF THE GEORGIAN ECONOMY AT THE CONTEMPORARY STAGE

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Tamaz ZUBIASHVILI

2016-08-01

Full Text Available In the former Soviet Union the economy of the Georgian Republic occupied advanced positions. At the very first stage of the restoration of independence the post-Soviet Georgia’s economy declined 3-times; in the following years, the situation improved, but it reached the 1990 level only after 15 years. In spite of difficult problems of development it should be singled out the middle period progress of the 90-ies when the country introduced a new currency - Lari, created conditions for attracting foreign investments, economic growth was expressed in double-digit figures; it created an independent banking system, rapidly implemented the program of privatization, strengthened the links with international financial organizations and others. By this time, the private sector’s share in the state budget revenues was already 80%. After the end of the 90-ies, in a few years, economic reforms stalled. After the “Rose Revolution” - until 2012, the development of economy was greatly influenced by tightened administrative methods, foreign loans, foreign investment, and so forth. Unfortunately, at this stage of development, a property encroachment for the government became common practice in such a way as pressure on business. In recent four years, more attention was paid to the actual development, deepening of integration with European Union, the governmental pressure on business was removed. However, because of the lack of jobs, labour force continues to flow abroad.

Foreign direct investments (FDI) in energy and electricity projects in the economies in transition

International Nuclear Information System (INIS)

Brendow, K.

1996-01-01

Registered foreign direct investments (or equity finance) in energy and electricity projects in central and eastern Europe (CEE) and the Commonwealth of Independent States (CIS) presently stand at about US$ 3 billion (flows) and US$ 5.5 billion (stock). This is insignificant compared with world FDI and disappointing compared with expectations and business opportunities. In addition, energy FDI is concentrated in oil and gas exploration/extraction, primarily in Russia, Kazakhstan and Azerbaijan. FDI opportunities in electricity generation, transmission and distribution while being explored (see list), have not been implemented: legislation was either restrictive as regards foreign participation, or not yet finalized, or not yet enacted. The major issue at present appears to be the extent of privatisation of this politically and socially sensitive industry. 1995 will see progress in Hungary, Poland and the Czech Republic. Related FDI would, however, still be modest. A significant breakthrough depends on political stability, economic recovery and progress in privatisation. (author)

Management of financial sources for innovative development: foreign countries experience

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Dyba O. M.

2016-12-01

Full Text Available Authors have analyzed and synthesized the main features of financial sources management for innovative development in development economies of foreign countries. The article describes the peculiarities of above mentioned type of management, using the examples of such countries as Germany, USA and Japan, which represent different kinds of economy and society. The main sources for innovative development financing are highlighted within the national economies conditions. The authors proposed the generalized models of financial sources management for innovative development. The information will be useful for Ukrainian model of financial sources management development.

Foreign investment multinational companies and economic development

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Popov Đorđe

2013-01-01

Full Text Available There is no universal answer on the question whether foreign investments stimulate economic development. The positive effect of foreign direct investments will follow when the investments is carried out under normal conditions of competition. That means, above all, low barriers for foreign trade and the low level of restrictions for foreign owned companies. In such circumstances, multinational corporations can assist the economies of penetration to make its businesses more efficient. Foreign investors bring with them brand new types of economic activities and in that way shifting the limits of business opportunities in the countries of penetration. But if the investments are implemented in markets protected with protectionist barriers of various kinds, then they could have negative effects. The negative effects are in particularly reflected in the inefficient use of domestic resources. Foreign investments depend on the macro and micro institutional reforms, low inflation, real exchange rate, and reasonably efficient legal system that protects the property rights and encourages savings and investment. The low level of corruption, together with the foregoing conditions is a prerequisite for the creation of a stimulating environment for foreign investments.

Real economy versus virtual economy - New challenges for nowadays society

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Associates Professon Dr. Veronica Adriana Popescu

2011-05-01

Full Text Available In the paper Real Economy versus Virtual Economy – New Challenges for Nowadays Society our goal is to present the importance of both real economy and virtual economy.At the begging of our research, we have presented the main views of some specialists concerning both virtual and real economy. After that we have compared the two types of economies and we have stressed the most important aspects connected to them. The main reason why we have decided to approach this complex subject is due to the increasing interest in the virtual economy matters and the relation that this particular type of economy develops with the real economy.

Chinese Foreign Direct Investment in Indonesia

DEFF Research Database (Denmark)

Gammeltoft, Peter; Tarmidi, Lepi T.

China‟s increasing integration with the world economy is met with much anticipation and much anxiety in the Southeast Asian region. In Indonesia, there is intense interest in Chinese foreign direct investment (FDI), not only among academics but also among policy makers, industrialists and the gen......China‟s increasing integration with the world economy is met with much anticipation and much anxiety in the Southeast Asian region. In Indonesia, there is intense interest in Chinese foreign direct investment (FDI), not only among academics but also among policy makers, industrialists...... conducted in 2008 among Chinese invested enterprises supplemented with available official statistics and secondary data, the study finds that Chinese FDI in Indonesia is performed by mixed entities: some are owned by central government, some by regional government and some are private firms. In the case...... of joint ventures, their local partners are mostly local Chinese, except in the infrastructure, mining and energy sector where their local partners are Indonesian state-owned enterprises. Where the local developmental effects are concerned, a picture emerges where Chinese investments, at this early period...

ECONOMIC VALENCES OF THE NATIONAL INTEREST IN THE CONTEXT OF FOREIGN DIRECT INVESTMENTS’ INFLOWS

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CAMELIA MILEA

2015-03-01

Full Text Available In the context of globalization and the tightening of relationships among countries, we consider to be important an analysis of the national interest of an economy. The national interest is a complex concept consisting of many interests that occur at several levels, converging towards assuring security, freedom, justice and welfare. The state is the main defender of the national interest. The national interest has as objective the definition of the national development priorities in order to ensure the survival and the prosperity of the country concerned, by following a trend of sustainable development and it is based on several factors, including foreign direct investments. These are a necessity for the development of an economy, especially when national savings do not meet the needs of capital for investments. But in order to serve the national interest, foreign direct investments have to be channeled towards the areas of national interest. After the national interest is defined, there are presented the characteristics of the economic national interest and the ways through which foreign direct investments can support the achievement of the economic interest of an economy. Then, the article highlights a few of the areas toward which foreign direct investments should be directed in Romania in order to sustain the sustainable development of our country.

Does Access to Foreign Markets shape Internal Migration? Evidence from Brazil

OpenAIRE

Laura Hering; Rodrigo Paillacar

2014-01-01

This paper investigates how internal migration is affected by Brazil’s increased integration into the world economy. It analyzes the impact of regional differences in access to foreign demand on sector-specific bilateral migration rates between the Brazilian states for the years 1995 to 2003. Using international trade data, a foreign market access measure is computed at the sectoral level,...

Penetration of small and medium sized food companies on foreign markets

Directory of Open Access Journals (Sweden)

Ladislav Mura

2010-01-01

Full Text Available In the world the interconnection of national economies and internationalization of economic processes occur. In turbulent changing business environment only those companies that understand the current trends in global economy may survive, develop and prosper. Therefore, the issue of internationalization for most companies becomes to be more important and the process of in­ter­na­tio­na­li­za­tion is the way how to stand this increasingly competitive environment. In presented contribution, the attention is paid to issues of internationalization of Slovak food industry enterprises such as their way of business internationalization, percentage share of foreign - trading activities on overall business activity, company evaluation of business internationalization or barriers of foreign markets pe­ne­tra­tion that researched companies have to deal with. Small and medium-sized enterprises (SMEs are the engine of the Slovak economy, generator of development, innovation, growth and they employ more than 60% of employees. Almost all businesses operating in agri-food complex have character of small and medium enterprises. The results of carried research have shown that small and medium-sized companies are considered to be successful in operation on foreign markets in surrounding European countries.

USSR Report, World Economy and International Relations, No. 12, December 1986

National Research Council Canada - National Science Library

1987-01-01

This report is a Translation of the Russian-language monthly journal MIROVAYA EKONOMIKA I MEZHDUNARODNYYE OTNOSHENIYA published in Moscow by the Institute of World Economy and international Relations...

Influence of corruption on economic growth rate and foreign investment

Science.gov (United States)

Podobnik, Boris; Shao, Jia; Njavro, Djuro; Ivanov, Plamen Ch.; Stanley, H. E.

2008-06-01

We analyze the dependence of the Gross Domestic Product ( GDP) per capita growth rates on changes in the Corruption Perceptions Index ( CPI). For the period 1999 2004 for all countries in the world, we find on average that an increase of CPI by one unit leads to an increase of the annual GDP per capita growth rate by 1.7%. By regressing only the European countries with transition economies, we find that an increase of CPI by one unit generates an increase of the annual GDP per capita growth rate by 2.4%. We also analyze the relation between foreign direct investments received by different countries and CPI, and we find a statistically significant power-law functional dependence between foreign direct investment per capita and the country corruption level measured by the CPI. We introduce a new measure to quantify the relative corruption between countries based on their respective wealth as measured by GDP per capita.

The International Balance of Payments Role in the Economy of Indonesia

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Ismadiyanti P Astuti

2016-06-01

Full Text Available The balance of payments is an indicator of economic fundamentals. Balance of payment describes the ability of a country to gain foreign exchange and foreign payments. This study aimed to analyze the determinants of the balance of payments on the Indonesian economy . It used  Thirlwall and Hussain models and also Duasa empirical model. This study used secondary data years 1987-2014, namely foreign exchange reserves, exports, foreign investment, the exchange rate and the real gross national income. The results showed that the performance of the balance of payments in Indonesia can be explained by the models shown in accordance with the hypothesis, but on several variables did not show a significant correlation.

The impact of foreign trade in agricultural products of Bosnia and Herzegovina within the framework of CEFTA 2006

Directory of Open Access Journals (Sweden)

Ćejvanović Ferhat

2014-01-01

Full Text Available In modern conditions, characterized by the growing importance of foreign trade between the countries, relations of a country with international environment play an increasingly impor­tant role in economic development. Over the last decade the process of economic integration through the removal of barriers for the free movement of goods, services, money and people has improved job creation and economic growth. From economic cooperation with foreign countries should expect positive effects on the economy of the state if the external economic factor used in accordance with the plans and programs of economic development of a coun­try. Thereto, there are social forces that can decide relatively independently to all elements of internal development and cooperation with foreign countries. The objective of this study was to investigate the effect of the CEFTA 2006 on the foreign trade of agricultural products in Bosnia and Herzegovina. In this respect it may be noted that foreign trade of agricultural products has an impact on the agricultural sector in Bosnia and Herzegovina.

The integrated model of innovative processes management in foreign countries

Directory of Open Access Journals (Sweden)

M. T. Kurametova

2017-01-01

Full Text Available The formation of an innovative economy must correspond to the promising areas of development of scientific, technical and social progress. To ensure sustainable innovative development of the national economy, it is not only necessary to develop our own tools and mechanisms that are characteristic of the domestic management model, but also the rational use of foreign experience in this field. Analysis of international experience in the use of various tools and mechanisms, management structures for the creation of high-tech and knowledge-based enterprises showed: the integrated nature of innovative development and modernization of the economy is the most sound methodological approach of a phased, systemic transition to new technological structures; When developing tools and mechanisms for innovative development of the economy, one should take into account the actual state of the material and technical base and the existing industrial structure of production, take into account the real possibilities of using different types of resources. The greatest innovation activity is shown by those countries in which the national integrated system effectively provides favorable conditions for the development and introduction of innovations in various spheres of life. International experience in the use of forms of governance can be considered as a mobile system of relations with the real sector of the economy. In the article is given the experience of foreign countries, and examples of adaptation for Kazakhstan integrated models of management of innovative processes to create high-tech enterprises, innovative products which can be competitive in the world market. The author highlighted the role of JSC “Kazakhtelecom” with the widespread provision of public services, having the status of a National operator associated with the provision of the services including long-distance and an international telecommunication for telecommunication networks in General

Role of modernization in maintenance of a sustainable development of economy of region

Directory of Open Access Journals (Sweden)

Natal'ya Zinov'evna Solodilova

2011-09-01

Full Text Available This paper deals with the need to modernize the economy and society. The authors reveal meaningful context of the term "modernization" in relation to the Russian economy. Five priority areas of economic modernization, as initiated by the President, are considered. Species, types and sources of funding for modernization of the economy (optimization of budget expenditures, state monopolies, taxation, domestic and foreign investment and business research areas are investigated. Based on the investigation of the essence and importance of the modernization process, a mechanism of modernization, which components are described in the paper (the process, purpose, types, objects, sources of financing, the results & process control and system upgrade was developed. Based on the results of the conducted study, the potential for sustainable economic development of the region in the XXI century is presented. A fundamentally new set of its components (educational, human, scientific, innovation, natural resource, industrial, construction, agriculture and infrastructure & tourism potentials is presented.

The political economy of local content in African extractives

DEFF Research Database (Denmark)

Buur, Lars; Hansen, Michael; Kjær, Mette

Extractive foreign direct investment (FDI) is heralded as the new development opportunity in Africa. But extractive FDI has a record of producing enclaves in host countries with few linkages to the local economy. Only if it creates local content will extractive FDI become a catalyst of development...

40 CFR 600.208-12 - Calculation of FTP-based and HFET-based fuel economy and carbon-related exhaust emission values...

Science.gov (United States)

2010-07-01

...-based fuel economy and carbon-related exhaust emission values for a model type. 600.208-12 Section 600... ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy Regulations for 1977 and Later...-based and HFET-based fuel economy and carbon-related exhaust emission values for a model type. (a) Fuel...

Chinese Foreign Direct Investment in R&D in Europe

DEFF Research Database (Denmark)

Di Minin, Alberto; Zhang, Jieyin; Gammeltoft, Peter

2012-01-01

’ investment in R&D in Europe, focusing on three different aspects: technology exploration vs. technology exploitation as investment motive; locational strategies for R&D investments; and the dynamics of motives of overseas R&D units. The analysis proceeds to draw out differences between the R...... rather than technological innovation, as the extant literature tends to assume. Chinese R&D units appear to evolve often from a strategy of pure technology exploration, over fusion of foreign technologies with R&D activities back home, into one of technology exploitation in foreign locations.......&D internationalization process of multinationals from developed economies and those from emerging economies. Evidence of Chinese R&D internationalization is provided through analyses of five cases of international R&D units set up by Chinese companies in Europe: ZTE Corporation, JAC Motors, Chang’an Motors, Hisense...

Selection of Mergers and Acquisitions by Foreign Capital in Open Economies

Institute of Scientific and Technical Information of China (English)

ZHENG Ying-fei; CHEN Hong-min; XU Li

2007-01-01

By a linear Cournot model, the factors associated with the integration of two firms are discussed in terms of their effects on the private surplus and the social welfare in economies with varying extent of openness. Meanwhile, the trade policy of the host government is taken into account. It is concluded that the more open the economy and the more intense the competition, the less profitable the integration; the most important determinant to the changes of the domestic social welfare is the industry strength of the host country. The host authority can enhance the domestic social welfare in two ways: to adjust the trade policy and to only approve the socially desirable cross-border mergers and acquisitions.

"Where can I be deported?" Thinking through the "Foreigner Fetish" in Namibia.

Science.gov (United States)

Lorway, Robert

2008-01-01

In "Thinking through the Foreigner Fetish," I examine the safer sex difficulties that form unevenly around class, gender, and ethniciy for a communiy of Namibian township youth involved in a transnationally-mediated queer rights movement. Post-structural notions of "desire" are employed in this article to re-orient poliical economic frameworks that consider "the body" in sex tourism in Marxists terms of "commodification" and "alienation." Through ethnographic account, I emphasize the practices through which local actors reflect on the value and authenticiy of their "self" in relation to the "global gay Other." By examining the moral economies of selfhood generated wihin the relationships between local and foreign males, I attempt to move discussions of "sex tourism" and "HIV-vulnerabiliy" beyond binary notions of "structure" and "agency."

FROM CIRCULAR ECONOMY TO BLUE ECONOMY

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Iustin-Emanuel, ALEXANDRU

2014-11-01

Full Text Available Addressing the subject of this essay is based on the background ideas generated by a new branch of science - Biomimicry. According to European Commissioner for the Environment, "Nature is the perfect model of circular economy". Therefore, by imitating nature, we are witnessing a process of cycle redesign: production-consumption-recycling. The authors present some reflections on the European Commission's decision to adopt after July 1, 2014 new measures concerning the development of more circular economies. Starting from the principles of Ecolonomy, which is based on the whole living paradigm, this paper argues for the development within each economy of entrepreneurial policies related to the Blue economy. In its turn, Blue economy is based on scientific analyses that identify the best solutions in a business. Thus, formation of social capital will lead to healthier and cheaper products, which will stimulate entrepreneurship. Blue economy is another way of thinking economic practice and is a new model of business design. It is a healthy, sustainable business, designed for people. In fact, it is the core of the whole living paradigm through which, towards 2020, circular economy will grow more and more.

Economy globalization and internationalization of business

OpenAIRE

Lucia PALIU-POPA

2009-01-01

In the conditions of contemporary world, the active participation in international division of labor is an essential component of the development process of each country. In this context the foreign trade, as a distinct branch of the national economy is an important factor of economic growth caused by the internationalization of business and determining for the process of globalization. Starting from the belief that international business development tends to bec...

FEATURES OF FOREIGN INVESTMENTS AND THEIR IMPACT ON THE ECONOMY OF THE STATE

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K. V. Zhyzhko

2010-03-01

Full Text Available In this article the importance of foreign direct investments forUkraineare analyzed and studied, and main investors are described. Also the role of transnational companies and theirs influence on recipient countries are studied, and the basic strategies on the markets of countries depending on theirs aims are analyzed. The advantages and disadvantages of foreign investments are described

FOREIGN INVESTMENTS INTO SVERDLOVSK AREA IN THE CONTEXT OF RUSSIAN CONNECTION TO WTO

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L.M. Kapustina

2005-09-01

Full Text Available Dynamics and structure of the foreign investments involved in economy of Sverdlovsk area are analyzed in the article. Consequences of Russian connection to WTO from the view point of foreign investments volumes change are considered. Directions of multilateral regulation of investment measures on the basis of the international arrangements are certain.

The Determinants of International Capital Movements and an Analysis in the Context of Foreign Direct Investments: A Case of Turkey

Directory of Open Access Journals (Sweden)

Oğuzhan AYDEMİR

2015-07-01

Full Text Available Foreign direct investments being an important part of the international capital movements are evaluated as the investments making in the form of reestablishing a factory in a foreign country, becoming a partner with an existing company or purchasing an established company. Foreign direct investments make a major contribution to economic development in connection with employment, technology, business information, integration with international markets and generating a sound competition environment. In view of the results which foreign direct investments give to national economy; determining the economic factors as to which national economy foreign direct investments would prefer is of great importance in terms of providing foreign capital inflows with continuity. In this regard; the factors determining foreign direct investments are estimated and the relationship between these factors and direct foreign capital inflows is analyzed in this study. As a result of the study; it is seen that gross domestic product (GDP, trade openness, unit labor cost and inflation are the economic determinants of foreign direct investments. Separately it is concluded that GDP, trade openness and unit labor cost have a positive effect on foreign direct investments and that there is negative relationship between inflation and foreign direct investments.

Comparison of External Exposure of Central and Eastern-European States as a Factor Threatening Financial Security of Their Economies

Directory of Open Access Journals (Sweden)

Magdalena Redo

2018-06-01

Full Text Available Central and Eastern-European countries are strongly linked to the international economic and financial systems, which results in their dependence on foreign capital and on the upturn in the global markets. This situation also makes them vulnerable to external shocks. Resilience of the economies of CEE countries was additionally diminished by their relatively quick and uncompromising opening up to the process of globalization and European integration. All the economies subject to scrutiny have quite a substantial external debt level (reaching 55–139% of GDP, their net international investment position is quite strongly in the negative (constituting 25–71% of GDP. They are also characterized by high level of foreign liabilities (85–350% of GDP, a significant degree of trade openness (export and import of goods and services amounting to 41–94% of GDP, considerable rate of foreign liquid portfolio investments (even as much as 32% of GDP. Another common feature is the strong financial support received from the EU budget, with CEE countries being its net beneficiaries (with the accumulated value of funds received from the EU budget in 2004–2015 at the level of 21–42% of GDP. It should be borne in mind that Lithuania, Latvia, Estonia, Slovenia and Slovakia are members of the Eurozone, i.e. operate an international currency, which improves their creditworthiness and augments the trust of the global markets. What seems not without significance for investors is the fact that the IMF classified these five CEE countries – as well as the Czech Republic – as advanced economies. In light of the above, it should be stated that the Polish economy is characterized by a relatively strong external exposure relative to the creditworthiness the country boasts. This exposure increases Poland’s vulnerability to shocks and makes it less immune thereto. These circumstances partially explain the higher estimation of the risk premium for investments in

Foreign currency-related translation complexities in cross-border healthcare applications.

Science.gov (United States)

Kumar, Anand; Rodrigues, Jean M

2009-01-01

International cross-border private hospital chains need to apply the standards for foreign currency translation in order to consolidate the balance sheet and income statements. This not only exposes such chains to exchange rate fluctuations in different ways, but also creates added requirements for enterprise-level IT systems especially when they produce parameters which are used to measure the financial and operational performance of the foreign subsidiary or the parent hospital. Such systems would need to come to terms with the complexities involved in such currency-related translations in order to provide the correct data for performance benchmarking.

Improving quality of foreign direct investment attraction in Vietnam

OpenAIRE

Ngo Phuc Hanh; Đao Van Hùng; Nguyen Thac Hoat; Dao Thi Thu Trang

2017-01-01

Foreign direct investment (FDI) enterprises are playing a key role in Vietnam's economy. By the end of 2016, there are more than 21,398 FDI projects in force, with the total registered capital of nearly 293 billion USD. One hundred six countries and territories have invested in 19 industries in 68 provinces and cities of Vietnam. These investments have added a large amount of capital to the economy, which has basically been used effectively, contributing to the economic growth of Vietnam. In ...

When does fdi have positive spillovers? Evidence from 17 emerging market economies

Czech Academy of Sciences Publication Activity Database

Gorodnichenko, Y.; Švejnar, Jan; Terrell, D.

-, č. 58 (2007), s. 1-53 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : foreign direct investment * spillovers * transition economies * efficiency Subject RIV: AH - Economics http://hdl.handle.net/2027.42/57179

Indochina becoming prime target for foreign investment in E and D

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that Indochina is emerging as a prime target for investment in oil and gas exploration and development. The Southeast Asian subcontinent offers sharp contrasts: the booming, market oriented economy of Thailand with its friendly climate for foreign investment, compared with the flagging socialist economies of Myanmar (formerly Burma), Cambodia, Laos, and Viet Nam. The contrast extends to the Thai energy sector as well. Aggressive development of Thailand's gas reserves with foreign assistance and capital underpins the buoyant Thai economy and has helped it reduce its dependence on imports to 40% of total energy demand. That contrast may also give impetus to a window of opportunity for oil and gas companies to participate in little tested or rank exploration plays elsewhere in the region. Except for Thailand, the region has seen little exploration and almost none by private companies since the early 1970s. The other countries are just beginning to emerge from years of international isolation caused by war or civil strife, and some are seeking foreign private investment in oil and natural gas for the first time in more than a decade. The need for hard currency capital is keen. Accordingly, industry officials point to nations such as Cambodia offering among the most attractive terms for oil and gas investment in the world

46 Evaluating Foreign Direct Investment and Africa's Development ...

African Journals Online (AJOL)

Africa to several factors discouraging foreign direct investment. Suggestions and ... in the economy of African states and what reasons account for such impacts. ..... information to second-guess market signals (prices) and because powerful interest ..... over 115 million people using cell phones in Nigeria, we do not have any ...

Random walk theory and exchange rate dynamics in transition economies

Directory of Open Access Journals (Sweden)

Gradojević Nikola

2010-01-01

Full Text Available This paper investigates the validity of the random walk theory in the Euro-Serbian dinar exchange rate market. We apply Andrew Lo and Archie MacKinlay's (1988 conventional variance ratio test and Jonathan Wright's (2000 non-parametric ranks and signs based variance ratio tests to the daily Euro/Serbian dinar exchange rate returns using the data from January 2005 - December 2008. Both types of variance ratio tests overwhelmingly reject the random walk hypothesis over the data span. To assess the robustness of our findings, we examine the forecasting performance of a non-linear, nonparametric model in the spirit of Francis Diebold and James Nason (1990 and find that it is able to significantly improve upon the random walk model, thus confirming the existence of foreign exchange market imperfections in a small transition economy such as Serbia. In the last part of the paper, we conduct a comparative study on how our results relate to those of other transition economies in the region.

From lagging to leading? Technological innovation systems in emerging economies and the case of Chinese wind power

International Nuclear Information System (INIS)

Gosens, Jorrit; Lu, Yonglong

2013-01-01

There is increasing attention for the contribution of emerging economies to global innovation, including innovation of renewable energy technologies. The Technological Innovation Systems (TIS) framework presents a list of system functions for the analysis of the development of a technology. It has often been applied to renewable energy technologies, but with a strong focus on advanced economies. In this paper, we elaborate on emerging economy innovation system formation, structured according to TIS functions. Rather than analysing development of the technology, we analyse the development of the Chinese TIS vis-à-vis the global forefront. Key to this notion is that TIS, especially for clean-tech, are transnational phenomena. Lagging TIS depend on the global TIS, whereas leading TIS contribute to its formation. It is concluded that China has reduced its dependence on foreign knowledge and investment, but the outward contribution remains limited. The main challenge to foreign market expansion lies in reforming the domestic TIS to focus on turbine quality rather than cost reduction. Demonstration projects are needed, especially for large capacity and offshore turbine models, in order to build up operational history and get quality certification. - Highlights: • The TIS framework was adapted to suit emerging economy case studies. • China's wind power TIS is emerging vis-à-vis the global forefront. • China's wind power TIS has reduced its dependence on foreign knowledge and finance. • Chinese innovative activity for wind power remains limited to the domestic context. • Foreign market expansion requires a focus on turbine quality and certification

Advantages and risks of foreign investors' participation in the projects of public-private partnership

OpenAIRE

I. Bohdan

2013-01-01

The purpose of this article is investigating the role of foreign investments in a contemporary globalized economy as a factor of acceleration of the national economic development. Based on the analysis of international trends in the investment projects involving foreign investors the author proves that active gross fixed capital formation, particularly in low- and middle-income countries, is largely determined by the availability of efficient mechanisms to attract foreign investments into the...

Information Technology of Study of the State Foreign Debt in Developing Countries

Directory of Open Access Journals (Sweden)

Matvieieva Iuliia M.

2014-03-01

Full Text Available Due to expansion of international relations, growth of interest of states in attraction of foreign capital, appearance of excessive debts and problems connected with them, urgency of the issue of the state foreign debt significantly increased. The problem of state foreign debt is especially sharp in developing countries. Taking into account specific features of functioning of economies of these states, it is necessary to develop information approaches with the aim of studying macro-economic processes, which could assist in creation of improved mechanisms of functioning of the debt policy. The goal of the article is building an information technology of study of the state foreign debt, which would allow conduct of a complex analysis of the studied problem. The article offers a three-stage information technology of study of the state foreign debt, which gives a possibility to analyse and assess the study problem. This article also reveals properties, functions and tasks, which are solve by the information technology. It gives a detailed description of each stage and its notional elements. It forms the structured database for a possibility to carry out an experiment. On the basis of the first stage the article builds econometric models, which reflect interrelations between macro-economic factors, which gives an opportunity to forecast, analyse and assess the state foreign debt.

RECIPROCITY IN THE ECONOMY OF THE AGE OF SILICON ECONOMY SYSTEMS TO EARLY EXPERIENCES CURRENT SOLIDARITY ECONOMY

Directory of Open Access Journals (Sweden)

Horacio, Simes

2012-01-01

Full Text Available Reciprocity is an integrating principle of supportive economy activities. In non-capitalist societies, it has been realized through the participation of certain institutional arrangements that favored the stability of exchange relations. Progress towards capitalist societies and deepening them, dissolved many of these institutional supports, while economy relations separated from other social relations in which it was first inserted. In addition, the selfish individual was become an active participant in the economy life of society. With the construction of market economies and state regulation, reciprocal relationships were being reduced to a lower field activities. Under these circumstances, they should investigate how reciprocity is manifested today, the institutional arrangements that are suitable to give stability and unity to cooperative behavior and the dynamics of their relationship to the context of the market and the state.

JPRS Report. Soviet Union: World Economy & International Relations, No. 4, April 1989

National Research Council Canada - National Science Library

1989-01-01

This report is a translation of the Russian-language monthly journal MIROVAYA EKONOMIKA I MEZHDUNARODNYYE OTNOSHENIYA published in Moscow by the Institute of World Economy and International Relations...

JPRS Report. Soviet Union: World Economy & International Relations, No. 2, February 1989

National Research Council Canada - National Science Library

1989-01-01

This report is a translation of the Russian-language monthly journal MIROVAYA EKONOMIKA I MEZHDUNARODNYYE OTNOSHENIYA published in Moscow by the Institute of World Economy and International Relations...

MNE R&D Subsidiary Mandates Evolution in Emerging Economies

DEFF Research Database (Denmark)

Schulzmann, David; Slepniov, Dmitrij

2017-01-01

The aim of this paper is to present the results of a systematic literature review (SLR) on the subject of Research and Development (R&D) subsidiary mandate evolution in emerging economies and to illustrate what triggers R&D mandate upgrade. The subject of R&D mandates is of crucial importance to ...... on subsidiary evolution in general and particularly in emerging markets. From a practical perspective, a better-integrated framework can provide guidance to businesses in emerging economies on how to start and successfully upgrade their R&D activities.......The aim of this paper is to present the results of a systematic literature review (SLR) on the subject of Research and Development (R&D) subsidiary mandate evolution in emerging economies and to illustrate what triggers R&D mandate upgrade. The subject of R&D mandates is of crucial importance...... to many multinational enterprises (MNEs) striving to utilize the potential of their foreign operations towards higher-value-added activities. While developed economies have long been a destination for R&D activities, emerging economies are increasingly recognized for their innovation potential. Previous...

An empirical study of the underground economy in the Kingdom of Belgium

DEFF Research Database (Denmark)

Rezaei, Shahamak; Goli, Marco; Dana, Léo-Paul

2013-01-01

This article investigates the underground economy in Belgium. Although several government initiatives are attempting to combat underground economic activities, we found illegal foreign workers identifying opportunities and fulfilling market needs. Underground employment thus thrives in a variety...

Travel patterns and characteristics of foreign-born sub-population in New York state

Energy Technology Data Exchange (ETDEWEB)

Chin, Shih-Miao [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hwang, Ho-Ling [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Reuscher, Tim [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Wilson, Daniel W. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

2017-10-01

According to the 2010 Census, over 22% of total New York State (NYS) residents were foreign-born and over one in three persons living in New York City (NYC) were foreign-born. Foreign-born and their dependents impact local economies in many different ways, including purchasing power, transportation service needs, business sales and receipts generated, and workforce. To allow better policy decision making and program planning of transportation developments and investments in NYS, a clear understanding of the foreign-born population’s travel characteristics and behaviors, as well as their unique transportation service needs, are necessary. This report documents the characteristics of the foreign-born population and identified differences in travel behaviors and mobility issues between foreign-born residents of NYS and their U.S.-born counterparts.

Predictive performance of DSGE model for small open economy – the case study of Czech Republic

Directory of Open Access Journals (Sweden)

Tomáš Jeřábek

2013-01-01

Full Text Available Multivariate time series forecasting is applied in a wide range of economic activities related to regional competitiveness and is the basis of almost all macroeconomic analysis. From the point of view of political practice is appropriate to seek a model that reached a quality prediction performance for all the variables. As monitored variables were used GDP growth, inflation and interest rates. The paper focuses on performance prediction evaluation of the small open economy New Keynesian DSGE model for the Czech republic, where Bayesian method are used for their parameters estimation, against different types of Bayesian and naive random walk model. The performance of models is identified using historical dates including domestic economy and foreign economy, which is represented by countries of the Eurozone. The results indicate that the DSGE model generates estimates that are competitive with other models used in this paper.

RUSSIAN MULTINATIONALS IN ROMANIA AND THEIR IMPACT UPON THE ROMANIAN ECONOMY

Directory of Open Access Journals (Sweden)

CODRUŢA DURA

2012-01-01

Full Text Available Our paper provides an insight into the universe of Russian multinationals and their influence upon the Romanian economy. Even if statistical data on foreign direct investment stock by country of origin do not prove the existence of Russian capital in Romania, it is a fact that the high values of foreign direct investment stock from the Netherlands, Austria, Germany or Switzerland are largely due to the investment projects undertaken in Romania by Russian multinationals. Despite the lack of relevant statistical data, we can say that the impact of Russian MNC’s on the Romanian economy is huge. Among positive influences we can mention: global employment opportunities for highly qualified workforce in the region; the transfer of advanced technologies to Romanian enterprises and the local markets; the awareness of business partners and public opinion on social responsibility; the insert of higher performance standards, competitiveness and managerial ethics.

The Behavioral Bias of Foreign Debt Usage in Foreign Exchange Risk Management

DEFF Research Database (Denmark)

Aabo, Tom

We investigate the behavioral bias in the use of debt denominated in foreign currency (foreign debt) in managing foreign exchange risks. From a strictly financial (rational) point of view foreign debt and derivates are close substitutes. Whether e.g. a European firm sells forward US dollars against...... foreign exchange risk management in medium-sized, non-financial firms in Denmark and find a behavioral bias in the use of foreign debt. Among the firms that are internationally involved (operating revenues, costs and/or assets in foreign currency), on average a quarter of the financial debt is denominated...... in foreign currency. The use / non-use of foreign debt is positively related to a number of internationality measures but most significantly to the existence of subsidiaries abroad whereas the degree of usage is particularly related to the magnitude of foreign operating assets. The use of foreign debt...

Asymmetric Effects of Global Liquidity Expansion on Foreign Portfolio Inflows, Exchange Rates, and Stock Prices

Directory of Open Access Journals (Sweden)

Dong-Eun Rhee

2014-06-01

Full Text Available This paper examines the effects of global liquidity expansion on advanced and emerging economies by using panel VAR methodology. The results show that global liquidity expansion tends to boost economy by increasing GDP growth and stock prices. However, we find that the effects are asymmetric. The effects of global liquidity on GDP and stock prices are greater and more persistent in emerging economies than in liquidity recipient advanced economies. Moreover, global liquidity appreciates emerging economies' exchange rates more persistently than those of advanced economies. Lastly, while global liquidity expansion increases foreign portfolio investment inflows to Asian countries and liquidity recipient advanced economies, there is no evidence for Latin American countries.

Trans-nationalisation Processes in the Ukrainian Economy

OpenAIRE

Bolharova Natalya K.; Panevnyk Tetyana M.

2013-01-01

The article considers main processes of trans-nationalisation of Ukrainian economy, identifies specific features of trans-national production and explains some theoretical aspects of these issues. It provides main stages of theoretical comprehension of activity of trans-national corporations (TNC), specific features of the theory of competitive advantages of TNC and specifies the basic ones of them. The article conducts analysis of flows of direct foreign investments into the Ukrainian econom...

The Monetary Policy in the System of State Regulation of the Indian Economy

Directory of Open Access Journals (Sweden)

Natalia V. Galistcheva

2015-01-01

Full Text Available The main task of this research is the analysis of India's monetary policy and its place in the system of state regulation of the economy. The article highlights the main directions of the Indian monetary policy in 1990-2000s aiming to raise competitiveness of the Indian goods on the foreign markets as well as stimulating the inflow of foreign capital in necessary volumes into the national economy. The author focuses on the main instruments of the modern Indian monetary policy, pursued in line with providing the undervalued rupee, which include the manipulating of the bank rate and currency interventions, directed mainly at sterilization of excessive inflow of foreign currency to the country. The article also underlines all the advantages and costs of the monetary policy. One of its main advantages is stimulation of national production's exports and among costs there are difficulties of importing machines and equipment into the country, increase of inflation rate as a result of massive inflow of export revenue, difficulties at external debt's service. The author notes the gradual nature of introduction of current account rupee convertibility and reasons for delay in achieving its full convertibility. Among them there are rather high level of fiscal deficit of the consolidated budget, essential average annual level of inflation, problems of non-performed assets in the economy, high liquidity ratio for commercial banks. The article also presents statistical data on the present state of the Indian foreign exchange reserves as well as dynamics in nominal and real effective exchange rate of rupee in 2005/06 - 2013/14 fiscal year.

The Position of Sub-Saharan Countries in the World Economy

Directory of Open Access Journals (Sweden)

Baumgartner Boris

2016-06-01

Full Text Available Most of the countries of sub-Saharan Africa belong to the most underdeveloped and poorest countries in the world economy. This region consists of forty-nine countries but at world GDP, world export, world import and inflow of foreign direct investment share only by small percent. There are some positive facts in the recent history of sub- Saharan Africa. Sub-Saharan Africa has grown faster than the world economy in the past ten years. The predictions are also positive. There is an expectation of another growth till the 2020. If the sub-Saharan countries want to keep the growth in the future they have to invest to infrastructure, in educational system, in research and science to make their economies more competitive.

EXPORT ACTIVITY OF MASHINE-BUILDING ENTERPRISES WITHIN TRANSFORMATION OF UKRAINIAN FOREIGN TRADE

OpenAIRE

Yarosh-Dmytrenko, Liudmila Oleksiivna

2017-01-01

Urgency of the research. Transformational processes in Ukrainian economy and its integration to European and world economic areas set new challenges to domestic machine building. Target setting. In modern conditions, national machine building suffers from huge economic crisis and loses its competitive fight in domestic and, what is sufficiently important for the economy of Ukraine, in foreign markets. Actual scientific researches and issues analysis. The operation of Ukrainian machine buildin...

Analyzing R&D Activities of Foreign Enterprises in Emerging Economies. Lessons from Turkey

OpenAIRE

M. Teoman Pamukçu; Erkan Erdil

2011-01-01

Emerging economies have played an important role in the internationalization of R&D activities at least since the 1990s. Turkey, an emerging economy and at same time an accession country to the European Union which signed a Customs Union Agreement with the EU already in 1995, is no exception. In-depth face-to-face semi-structured interviews were conducted with R&D directors of 26 multinational companies operating in Turkey –with headquarters located in France, Germany, Italy, Japan, Switzerla...

Where do Foreign Student STEM graduates work after they graduate?

Science.gov (United States)

Ruiz, Neil

2017-01-01

Foreign students and entrepreneurs add path-breaking innovative ideas and billions of dollars to the United States economy. This presentation takes a look at where foreign students originate, what degrees and subjects they are pursuing in the U.S., and where they work after they graduate from U.S. universities. With a special focus on STEM degrees and physics, Dr. Ruiz will show how foreign students open up markets in their hometown cities which facilitates trade, foreign direct investment and knowledge transfer. In addition, they infuse revenue into local communities, and they help fill demand for jobs requiring specific skills in local U.S. labor markets. He argues that America's business, educational, and community leaders need to develop better strategies that retain their talents after they graduate. Invited speaker number 44869.

Healthcare delivery in a frail economy: challenges and way forward ...

African Journals Online (AJOL)

The Nigerian Nation is a pluralized, multi-ethnic and diverse geographical entity. The country is naturally endowed with financial, material and human resources. Nigeria is a mono-economy with an entirely skewed dependence on Crude-oil as a major source of foreign exchange earnings at the expense of other viable ...

Human Rights Promotion through Transnational Investment Regimes: An International Political Economy Approach

Directory of Open Access Journals (Sweden)

Claire Cutler

2013-05-01

Full Text Available International investment agreements are foundational instruments in a transnational investment regime that governs how states regulate the foreign-owned assets and the foreign investment activities of private actors. Over 3,000 investment agreements between states govern key governmental powers and form the basis for an emerging transnational investment regime. This transnational regime significantly decentralizes, denationalizes, and privatizes decision-making and policy choices over foreign investment. Investment agreements set limits to state action in a number of areas of vital public concern, including the protection of human and labour rights, the environment, and sustainable development. They determine the distribution of power between foreign investors and host states and their societies. However, the societies in which they operate seldom have any input into the terms or operation of these agreements, raising crucial questions of their democratic legitimacy as mechanisms of governance. This paper draws on political science and law to explore the political economy of international investment agreements and asks whether these agreements are potential vehicles for promoting international human rights. The analysis provides an historical account of the investment regime, while a review of the political economy of international investment agreements identifies what appears to be a paradox at the core of their operation. It then examines contract theory for insight into this apparent paradox and considers whether investment agreements are suitable mechanisms for advancing international human rights.

Foreign Direct Investment Relations between Myanmar and ASEAN

OpenAIRE

Thandar, Khine

2008-01-01

Myanmar highly appreciates foreign direct investment (FDI) as a key solution reducing the development gap with leading ASEAN countries. Accordingly, it is welcomed by the government. Myanmar's Foreign Investment Law was enacted in 1988 soon after the adoption of a market-oriented economic system to boost the flow of FDI into the country. Foreign investors positively responded to these measures in the early years and FDI inflow into Myanmar gradually increased during the period from 1989 to 19...

Outward Foreign Direct Investment from Emerging Economies and National Development Strategies

DEFF Research Database (Denmark)

Gammeltoft, Peter; Kokko, Ari

2013-01-01

Foreign direct investment (FDI) is an integral part of national development strategy throughout the developing world. However, while traditionally strategies have focused on the role of inward flows only, today, outward FDI is used on a larger scale and more deliberately to access markets...

Anxiety about speaking a foreign language as a mediator of the relation between motivation and willingness to communicate.

Science.gov (United States)

Wu, Chia-Pei; Lin, Huey-Ju

2014-12-01

The purpose of this study was to examine whether anxiety about speaking a foreign language mediated the relation between motivation and a willingness to communicate among 107 Taiwanese students sampled from two public universities and one private university. A regression analysis indicated that motivation was negatively related to university students' anxiety about speaking a foreign language and positively related to willingness to communicate. Furthermore, anxiety about speaking a foreign language was negatively related to university students' willingness to communicate, and also partially mediated the relationship between motivation and willingness to communicate. The findings suggest that high motivation and low anxiety about speaking a foreign language are needed for Taiwanese students to demonstrate a stronger willingness to communicate.

The offshorization of economy: the present realities

Directory of Open Access Journals (Sweden)

Maslak Olga

2017-01-01

Full Text Available In this article the essence and main types of offshore zones have been studied. It has been analyzed the main reasons for cooperation with the tax havens, established that the main reason of the Ukrainian economy offshorization is not only the desire of economic entities to optimize taxes, but also the desire to protect their assets from the negative impact of the crisis phenomena in the national economy during 2010-2016. The foreign experience of the anti-offshore regulation has been researched. It has been defined that the general anti-offshore regulation vector should be based on the principles of financial transparency, active cooperation with the international community, an optimal combination of instruments that restrict the capital outflows and the effective instruments that stimulate the business development in the country. It has been also established that the mechanism of deoffshorization should be aimed not only at elimination of the territories with the preferential taxation, but also at receiving benefits from their use on the basis of the existing financial infrastructure of the leading world offshore centers. The experience of China in attracting additional foreign investments, gaining wider access to financial resources through the cooperation with an offshore financial centre has been researched.

Priorities in the State Policy of Unshadowing the National Economy of Ukraine at the Present Stage of Development

Directory of Open Access Journals (Sweden)

Avhustyn Ruslan R.

2016-11-01

Full Text Available The aim of the article is to justify the priorities of the state policy of unshadowing the national economy in the system of basic characteristics of the state economic security at the present stage of development. There made a conclusion about the perspectiveness of aligning the policy of economy unshadowing with forming a viable system of economic security of Ukraine, which allows to achieve a synergistic effect oriented both towards counteraction to the shadowing of economic relations and comprehensive enhancement of key parameters of the state economic security, including through the economy unshadowing. Consequently, the strategic priorities are defined in the following areas: (1 self-sufficiency of economic development and provision of the policy of economy unshadowing (forming the environment of perception of the shadow economy, resource support and an information and analytical system of economy unshadowing; introducing effective foreign technologies; increasing the efficiency in the regulatory sphere; (2 stability of the economic system and high capacity of the policy of economy unshadowing (legalization of the national economy in the branch-sectoral as well as spatial and structural aspects by structural elements of the state security, in the financial system and the internal market; (3 ability of the economy to develop and realize the potential of the policy of economy unshadowing (building the infrastructure; introducing «fuses» of control, human and intellectual, investment and innovation support of the economy unshadowing

Impact Of Foreign Currency Hedging On Firm Value Among Indian Corporates

OpenAIRE

Gupta, Amit

2016-01-01

Indian economy was opened for globalization in 1991 and Indian Rupee was deregulated in 1993 and subjected to market fluctuations. Indian Rupee was very volatile during the past decade due to global events like US subprime crisis (2007-2009), European sovereign debt crisis, Oil prices fluctuations and Fed monetary policy speculations to name few. This volatility has put pressure on Indian firms to manage their foreign currency exposure. Hedging and use of Foreign Currency Derivatives (FCD) is...

FOREIGN DIRECT INVESTEMENTS FLOWS IN BLACK SEA ECONOMIC COOPERATION

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RADU-MARCEL JOIA

2011-04-01

Full Text Available We live in a time when the world’s economy is in a constantly change. Foreign direct investments flows are in actual economy one of the most dynamic and prospective part of the world’s economy being in a continuous globalization. These international financial flows determine the traders who take part at the world’s economy to know to adopt a specific management in the international affairs field. We are viewers of an unprecedented expansion of foreign direct investments. The main objective of the paper is to analyze the foreign direct investments flows in Black Sea Economic Cooperation. This study is based on UNCTAD reports and on an econometrical model which gives us the possibility to create different analysis concerning FDI flow in this cooperation. So we defined a simple regression model, in which the dependent variable is represented by Nominal and real GDP, total and per capita, variable explicated by FDI flows, using as method the Least Squared, including 19 observations. Through this paper, we tried to illustrate the relation between the FDI flows and the economic growth rate in the past years inRomania, member of Black Sea Economic region. In line with a general upward trend in FDI to Central and Eastern Europe, inward FDI to the Russian Federation held steady between 1998 and 2001, at an annual average of $2.8 billion. In Black Sea Economic region, Russian average is the biggest one, Russia being a leader country in warding FDI. The Russian Federation is by far the leading investor country in the region, accounting for more than 75% of its annual outflows. Inward and outward direct investments flows in Russia have reached in 2009 an amount of $38,722 billion. In Romania, following years of stagnation at very low levels, 1991 to 1997, FDI flows reached $1.1 billion in 2002. Inflows to Bulgaria peaked at $1 billion in 2000; the surge is largely due to flows from developed countries. Inward and outward direct investments flows in

DETERMINANTS OF FOREIGN DIRECT INVESTMENT (FDI IN PAKISTAN’S AGRICULTURAL SECTOR

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Zeshan ANWAR

2013-01-01

Full Text Available Pakistan is an agricultural based economy, therefore, agricultural sector is one of the most important sectors of Pakistan as it provides employment opportunities to millions of people, contributes significantly in GDP, fulfills local demand for food items, export variety of commodities to foreign countries, boosts foreign exchange reserves and eventually enhances economic growth rate of Pakistan’s economy. This study has investigated the determinants of FDI in agricultural sector of Pakistan. The results have shown that GDP and trade openness have positive and significant relationship with FDI inflows in Pakistan agricultural sector whereas government debt has negative and significant relationship. The results have further revealed that inflation has positive whereas exchange rate has negative relationship with FDI inflows in Pakistan’s agricultural sector but both of these variables have insignificant relationship with FDI.

Effects of Fiscal Policy in a Small Open Economy: Evidence of Croatia

OpenAIRE

Deskar-Škrbić, Milan; Šimović, Hrvoje; Ćorić, Tomislav

2013-01-01

In this paper we use structural VAR model to analyze dynamic effects of fiscal shocks on economic activity in Croatia from 2000Q1-2012Q2. Due to the fact that Croatia is a small open economy we assume that shocks of foreign origination can have notable effects on its performance. Therefore, original Blanchard-Perotti (2002) model is extended by introducing variables that represent external (foreign) demand shocks. The results show that the government spending has a positive and statistically ...

Adapting smart specialisation to a micro-economy – the case of Malta

OpenAIRE

Georghiou, Luke; Uyarra, E.; Saliba Scerri, R.; Castillo, N.; Cassingena Harper, J.

2014-01-01

Purpose– The purpose of this paper is to set out the process by which a smart specialisation strategy was developed for a small, peripheral economy in the European Union, the Republic of Malta. It assesses the applicability of the approach in the context of a micro-economy with an industrial structure based on a small number of foreign direct investments and a predominance of micro-enterprises.Design/methodology/approach– The paper follows an action research approach by presenting as a case s...

Spillover Effects of the Russian Economy: Regional Specificity

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Elena Anatolyevna Fedorova

2016-03-01

Full Text Available The purpose of the study is to evaluate the strength and direction of the distribution of the foreign direct investments (FDI in regional economy. The subject matter of the research is FDI to the regions of Russia. The subject of the study is relevant as it makes possible to estimate the long-term consequences from the restrictions of the West countries (in connection with sanctions against the inflow of the foreign capital to the regions of the Russian Federation. The study is based on the following hypotheses: 1. Russian regional economy has horizontal (distribution of effects from FDI within an industry and vertical spillover effects (distribution according to a technological chain, from product suppliers to product consumers. Vertical effects are more important and have greater amplitude than horizontal effects. An industry competition is one of the causes of negative horizontal spillover effect, and the scale of the company is the reason of positive horizontal spillover effect. 2. FDI generates the positive regional spillover effects on the productivity of domestic firms in the Russian economy. 3. Regional industry specificity influences the sign and magnitude of spillovers from FDI. 4. Time sensitivity is revealed for horizontal spillovers, so the regional effects may change the direction. As an empirical basis of the study, the statements of 23567 Russian companies with FDI and 25354 Russian enterprises without FDI for the 5 years were used. The methodology of the research is the calculation of spillover effects, Cobb-Douglas production function and panel data regression. The study has found, that the direct vertical spillover effects are almost absent. That means that industrial consumers do not notice the effect of inward FDI. At the same time, the converse effect related to the product suppliers is positive, but as the direct effect, it is not more important in any group of regions then the horizontal effect. The Russian economy has a

CONTRIBUTION OF FOREIGN DIRECT INVESTMENT FOR THE REGION DEVELOPMENT

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KATARÍNA ČULKOVÁ

2013-02-01

Full Text Available Foreign direct investments contribute to the important solving of the economical growth and regionaldevelopment and it presents part of the state’s effort to increase living level of the state. Slovakia government ismotivated to support any foreign investment and it competes for such investments with other transforming countries.Goal of the contribution is to provide idea about main factors that influence inflow of the foreign investments to theindividual regions of Slovakia and to evaluate their contribution through characteristics and main determinants of theforeign investments. Only through careful choice can Slovakia obtain successfully investors that would come to thecountry with production, research and development since in modern economy we cannot be competitive without suchactivities, neither in regional, nor in the international level.

Impacts on the biophysical economy and environment of a transition to 100% renewable electricity in Australia

International Nuclear Information System (INIS)

Turner, Graham M.; Elliston, Ben; Diesendorf, Mark

2013-01-01

We investigate the impacts on the biophysical economy, employment and environment of a transition scenario to an energy-efficient, 100% renewable electricity (RE) system by 2060, based on wind, solar and biomass technologies, and an introduction of electric vehicles. We employ a CSIRO process-based model of the physical activity of Australia’s economy and environmental resources, the Australian Stocks and Flows Framework. The RE systems are assumed to be manufactured in Australia to identify possible employment benefits. In comparison with the business-as-usual (BAU) scenario, on a national scale, the RE scenario has much lower economy-wide net emissions, remaining below contemporary levels and becoming zero in the electricity sector by 2060. Compared with BAU, the RE scenario also has significantly lower industrial water use, somewhat higher materials use, slightly lower unemployment, lower net foreign debt (relative to a GDP proxy) and, resulting from the growth in electric vehicles, reduced oil imports. The GDP per capita growth, based on the physical stocks of capital and labour, is virtually the same in both scenarios. Hence, from the viewpoint of the biophysical economy, there are no major barriers to implementing policies to facilitate the transition to a 100% renewable electricity system for Australia. - Highlights: ► Simulation of a 100% renewable electricity (RE) system in a process-based model. ► The RE scenario achieves zero GHG emissions in the electricity sector by 2060. ► Consumption of secondary materials is higher and more variable in the RE scenario. ► The RE scenario has lower water use, unemployment, foreign debt and oil imports

INSTITUTIONAL TRANSFORMATIONS TO ECONOMY OF THE URAL FEDERAL DISTRICT

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S.I. Mayer

2007-06-01

Full Text Available Economy of the Ural federal district is characterized by appreciable institutional transformations. First of all, it concerns arrival on the market new and leaving from the market of the old enterprises and the organizations, that, alongside with other factors, defines growth of competitiveness of regions. The processes of development of small business, strengthening of market positions of the organizations with participation of the foreign capital, activisation of the market of merges and absorption of the companies operate also in the same direction. Noted tendencies are characteristic for economy of all Russia. However regional features, as between federal districts, and subjects of Federation are kept also.

Knowledge Creation in International Joint Ventures in Emerging Economies

DEFF Research Database (Denmark)

Nielsen, Ulrik B.

Entering and developing presence in emerging economies often require foreign firms to set up International Joint Ventures (IJVs) with local partners, especially when the prime motive of the operation is to capture opportunities in the local markets (Mohr & Puck, 2005). IJVs have therefore become...... an important way for firms to enter these markets and a significant force in shaping a firm’s global strategy in expanding international activities abroad. However, research has shown that IJVs in emerging economies are unstable, and firms have experienced that performance of their IJVs in these emerging...... economies often does not meet their expectations (Fang & Zou, 2010). Extant research has shown that, in general, management of IJVs appears to be a difficult issue. 60-70% of all partnerships are not successful (Lambe, Spekman, & Hunt, 2002). Inter-partner learning has been proposed in the literature...

The Sharing Economy

OpenAIRE

Reinhold, Stephan; Dolnicar, Sara

2017-01-01

Peer-to-peer accommodation networks in general, and Airbnb in specific, are frequently referred to as part of the sharing economy. This chapter provides an overview of key characteristics of the sharing economy, discusses how these characteristics relate to peer-to-peer accommodation, and positions peer-to-peer accommodation networks within the sharing economy.

Foreign Direct Investment and China’s Productivity Growth during the 1997 Asian Financial Crisis

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Fulgence Dominick Waryoba

2017-09-01

Full Text Available The study estimates the fixed effect model using cross–section weights to estimate panel EGLS for 7 years in 29 regions of China. Though for the sample period, foreign direct investment influences productivity positively, the effect is very lower compared to other factors in the model. Conversely, labor has a very high influence on productivity for the period under consideration. Nevertheless, the years after 1997 have shown more productivity growth compared to the years before 1997. This is probably due to the fact that the government acted quickly to recover by boosting the external demand. Consequently, the contribution of export on productivity growth is significantly large. As long as China’s productivity keeps growing, high technological foreign direct investments will continue to flow into the economy. Chinese government should continue to invest in human capital to match with high technology embodied in foreign direct investments for the economy to continue experiencing high productivity growth.

Alternative Financial Policy Rules in an Open Economy Under Rational and Adaptive Expectations

OpenAIRE

Blackburn, Keith; Currie, David; Whittaker, R; Wren-Lewis, Simon

1985-01-01

The potential instability of a fixed monetary rule combined with automatic fixed stabilisers is a well-established feature of closed economy IS/LM models with wealth effects and asset accumulation. This paper examines the stability issue in a general open economy macromodel with alternative expectations mechanisms (rational or adaptive) in both the labour market and the foreign exchange market. The fixed monetary rule is found to be stabilising only in special cases, notably when post-tax rea...

A Comparative Study of Trade Relations and the Spatial-Temporal Evolution of Geo-Economy between China and Vietnam

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Teng Ma

2017-06-01

Full Text Available With the increasing economic importance of the Asia-Pacific Region, the economic interdependence among countries in the region has gradually enhanced. With the continuous opening up of the two countries, Sino-Vietnamese economic relations have also been deepened. However, the export trade between Vietnam and China has been competitive. China and Vietnam seek to dominate or join an agreement that is conducive to their own trade, which also exacerbates the trade competition between the two countries. This paper compares China and Vietnam and analyzes their foreign trade data from 2005 to 2014. By analyzing the competitiveness of export commodities, the trade division effect and spatio-temporal changes of the geo-economic relationship in the Asia-Pacific Region, this study explores Sino-Vietnamese trade relations and compares the pattern of geo-economic evolution between the two countries. The findings show that China and Vietnam have similarities and substitutability in textiles, apparel and footwear in terms of commodity structure. There is already a trade diversion effect between Vietnam and China on these commodities, but it is not substantial. From a geographic perspective, China’s geo-economic relations in the Pacific Rim present an increasingly dispersed trend. However, the spatial pattern of Vietnam’s geo-economy has maintained a low-level and stable spatial agglomeration over the last decade.

Determinants Of Foreign Direct Investment In Transition Economies, With Special Reference To Macedonia: Evidence From Gravity Model1

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Dauti Bardhyl

2015-12-01

Full Text Available This paper accounts for the main determinants of Foreign Direct Investment stocks to 5-South East European Countries and the 10-New Member States of the European Union countries by using an augmented Gravity Model, for the purpose of calculating the potential levels of FDI stock in Macedonia. The study takes into account country specific institutional factors that determine foreign investors’ decisions from 20 core OECD countries to invest in SEE-5 and EU-NMS-10 countries. From the results of the study we find that gravity factors (market size and distance, institutional related factors (control of corruption, corruption perception index, regulatory quality, transition progress and WTO membership and other traditional determinants of FDI (schooling, bilateral exports appear to significantly determine inward FDI stock to the SEE region and new EU member states. The GMM estimates suggest that bilateral FDI stock is subject to persistence effects. The study additionally confirms the relatively strong gravitational character of Macedonia’s inward FDI stock.

EMERGING ECONOMIES: COMPARATIVE ANALYSIS OF MIST AND IBSA COUNTRIES

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Gonca Oguz Gok

2016-04-01

Full Text Available Post Second World War liberal economic order and its institutions have been challenged with the rapidly growing powerful economies of some Asian and Latin American countries in the last decade. Yet, there is ambiguity in international political economy field with regard to conceptualizing and categorizing these emerging economies. This study mainly aims to ravel out this obstacle by offering a new quantitative benchmarking framework. In other words, this study proposes a new evaluation criteria set for assessing emerging economies with combining testable domestic and systematic factors. Accordingly, this study presents the cross-country comparison by using quantitative benchmarking analysis between IBSA -India, Brazil and South Africa- and MIST -Mexico, Indonesia, South Korea and Turkey- countries over the period 2008- 2012. We compare these countries based on the criteria of economic growth, human development index, foreign direct investment, and official development assistance. This study also aims to evaluate the group performance of these newly emerging economies- namely the rise of IBSA and MIST countries-in a comparative perspective. In conclusion, the performance of these countries -from both group-of-country and individual-country perspectives- are discussed in light of the results

Political Strategies of Foreign Firms in the Dutch Chemical Industry

NARCIS (Netherlands)

Kranenburg, H.L. van; Voinea, C.L.; Burger, M.; Tulder, R. van; Verbeke, A.; Voinea, L.

2012-01-01

- Purpose – This chapter explores the rationale for foreign companies to have a political strategy and how these companies are politically active in a small, open and regionally integrated economy. The reasons why companies are engaged in corporate political activities are tied to the rationales for

Foreign Relations.

Science.gov (United States)

De La Hoz, Alejandro; Díaz, Eduardo; Feinstein, Max Moses

2017-05-01

In a large Colombian teaching hospital, a fifty-five-year-old woman complaining of stomach pain is examined by a foreign-exchange medical student from the United States. Speaking in Spanish, the student elicits a medical history that suggests a possible recurrence of gallstones, but nothing further. Upon discussing the patient's case in private with the attending physician, the student is shocked to learn that the patient is suffering from terminal, metastatic gastric cancer but is unaware of her diagnosis. The attending physician explains that the patient's husband instructed the health care providers not to tell the patient what her diagnosis is. The medical student feels uncomfortable withholding the diagnosis from the patient. The thought of disclosure feels equally uncomfortable, however, as it would mean contradicting the instructions of the attending physician at the host hospital as well as violating what the student suspects, but is not sure, may be acceptable medical practice in Colombia. How should the medical student proceed? © 2017 The Hastings Center.

Biofuels sources, biofuel policy, biofuel economy and global biofuel projections

International Nuclear Information System (INIS)

Demirbas, Ayhan

2008-01-01

The term biofuel is referred to liquid, gas and solid fuels predominantly produced from biomass. Biofuels include energy security reasons, environmental concerns, foreign exchange savings, and socioeconomic issues related to the rural sector. Biofuels include bioethanol, biomethanol, vegetable oils, biodiesel, biogas, bio-synthetic gas (bio-syngas), bio-oil, bio-char, Fischer-Tropsch liquids, and biohydrogen. Most traditional biofuels, such as ethanol from corn, wheat, or sugar beets, and biodiesel from oil seeds, are produced from classic agricultural food crops that require high-quality agricultural land for growth. Bioethanol is a petrol additive/substitute. Biomethanol can be produced from biomass using bio-syngas obtained from steam reforming process of biomass. Biomethanol is considerably easier to recover than the bioethanol from biomass. Ethanol forms an azeotrope with water so it is expensive to purify the ethanol during recovery. Methanol recycles easier because it does not form an azeotrope. Biodiesel is an environmentally friendly alternative liquid fuel that can be used in any diesel engine without modification. There has been renewed interest in the use of vegetable oils for making biodiesel due to its less polluting and renewable nature as against the conventional petroleum diesel fuel. Due to its environmental merits, the share of biofuel in the automotive fuel market will grow fast in the next decade. There are several reasons for biofuels to be considered as relevant technologies by both developing and industrialized countries. Biofuels include energy security reasons, environmental concerns, foreign exchange savings, and socioeconomic issues related to the rural sector. The biofuel economy will grow rapidly during the 21st century. Its economy development is based on agricultural production and most people live in the rural areas. In the most biomass-intensive scenario, modernized biomass energy contributes by 2050 about one half of total energy

MULTINATIONAL COMPANIES AND FOREIGN DIRECT INVESTMENT

OpenAIRE

Lucia P. BLĂJUȚ

2014-01-01

This paper highlights the significant share of multinational companies in international trade that are a factor of developing global economies. In the context of economic globalization the activity of multinational companies and their foreign direct investment have a strong impact on the host country which presents advantages and disadvantages for them. The main objective of this article is the review of the important role played by multinationals in economic development, especially in develo...

THE IMPACT OF THE FOREIGN CAPITAL BANKS ON ENSURING FINANCIAL STABILITY ON LONG TERM

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Isac\tBORS

2015-06-01

Full Text Available The present study is focusing on analysing the role played by the foreign banks within the national and international banking system as well the impact the foreign banks have on the autochthon banking system, on the financial activity, on the real economy and on the financial stability on long terms. The research conducted highlights the fact that along the positive impact on the banking system and on the economy of the host country, generated by their quality as vectors of mobilizing and directioning the international financial flows towards the host country, there can also be considered a negative impact. The study shows that the impact of the negative effects, that have as main cause the reversibility of the international financial flows, depends, on a great extent, on the specific conditions of the host country, on the characteristics of the foreign banks, but mostly, by the share held by the foreign countries within the framework of the host banking system. Starting from the role played by the capitalization of the banking system to ensure financial stability, the research made on Romania’s case shows both, the positive effects generated by the presence of the foreign banks and also, their vulnerability in front of this excessive dependence on the foreign capital induced by this presence. The solution to reduce this dependence can only come from the autochthon capital direction whose mobilization may countervail the gap made by the foreign banks and, by surceasing the process of financial disintermediation, to ensure the maintenance of the financial stability on long term.

Oil boycott and the political economy

International Nuclear Information System (INIS)

Katouzian, H.

1988-01-01

The severe foreign exchange shortage caused by the loss of oil revenues forced Musaddiq's government to adopt the strategy of non-oil economics. This was not a coherent and comprehensive policy framework, but its different strands tended to complement and reinforce each other. Hence by August 1953 the balance of payments was on a steady course, and the domestic economy was under control. This paper gives a brief review of the background of the oil boycott and a discussion of the search for a solution

China’s Strategic Investments and Its Relations with Developing Economies

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Radu-Marcel Joia

2011-05-01

Full Text Available 2010 brings news regarding China's economic strategy. It has strengthened its trade relations withemerging economies, making significant investments, plus significant imports and exports, proving again thatit is the first commercial power in the world. China, considered being "the manufacturer of the world", alongwith Brazil and Russia, major exporters of raw materials, and India, the country which offers the cheapesttechnology services, has made the world organization, named as BRIC. In 2009, China has consolidated itsposition as the main trading partner with Brazil, a position that enabled it in 2010 to become the largestinvestor in the Brazilian territory. One of the most important Chinese strategies is the monetary one, throughwhich China is trying to grow internationally Yuan’s importance, reducing the dependence on the dollar bydriving autonomous trade flows. It is expected that Yuan will become the main currency in Asia, main goalthat will be achieved by the constitution of large reserves of Yuan on the Asian territory. Knowledge ofChinese economic policy and relations with emerging economies is essential, since 2010 shows the economicpower of this nation, the largest trading power in the world, which has led the economists to study China'seconomic situation. We used for this study, data extracted from UNCTAD and ASEAN’s reports from 2010,plus various U.S. studies on China's geostrategic position. China’s geostrategic position is an important one,especially compared with the other BRIC countries, making energy investments in the Middle East, strategythat was adopted also by India and Russia; so Russia and China created ESPO project, Eastern Siberia -Pacific - Ocean, through which China is making huge investments in energy and Russia is trying to stand outfor European markets. Through this paper, we tried to evidence China’s financial and trade relations withUSA, European Union and emerging economies, in the context of a severe

Foreign Aid to Nigeria and Domestic Obstacles: A Review of Anambra State Education Sector

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Emma E.O Chukwuemeka

2014-06-01

Full Text Available The study investigated the effect of foreign aid on the development of different sectors of the Nigerian economy. Particular emphasis was laid on the educational sector of Anambra State. Survey research method was adopted. Data collected were analyzed using Chi-square parametric statistics. Many factors were found to militate against the effectiveness of foreign aid in achieving development. Among the factors were corruption, poor policies and institutional framework as well as poor utilization of development fund. Based on the findings, recommendations were made. These include the need for the establishment of a sound institutional framework and infrastructural facilities; also there is the need for a reform of the educational sector of Anambra state as well as all sectors of the Nigerian economy.

Evaporative water loss, relative water economy and evaporative partitioning of a heterothermic marsupial, the monito del monte (Dromiciops gliroides).

Science.gov (United States)

Withers, Philip C; Cooper, Christine E; Nespolo, Roberto F

2012-08-15

We examine here evaporative water loss, economy and partitioning at ambient temperatures from 14 to 33°C for the monito del monte (Dromiciops gliroides), a microbiotheriid marsupial found only in temperate rainforests of Chile. The monito's standard evaporative water loss (2.58 mg g(-1) h(-1) at 30°C) was typical for a marsupial of its body mass and phylogenetic position. Evaporative water loss was independent of air temperature below thermoneutrality, but enhanced evaporative water loss and hyperthermia were the primary thermal responses above the thermoneutral zone. Non-invasive partitioning of total evaporative water loss indicated that respiratory loss accounted for 59-77% of the total, with no change in respiratory loss with ambient temperature, but a small change in cutaneous loss below thermoneutrality and an increase in cutaneous loss in and above thermoneutrality. Relative water economy (metabolic water production/evaporative water loss) increased at low ambient temperatures, with a point of relative water economy of 15.4°C. Thermolability had little effect on relative water economy, but conferred substantial energy savings at low ambient temperatures. Torpor reduced total evaporative water loss to as little as 21% of normothermic values, but relative water economy during torpor was poor even at low ambient temperatures because of the relatively greater reduction in metabolic water production than in evaporative water loss. The poor water economy of the monito during torpor suggests that negative water balance may explain why hibernators periodically arouse to normothermia, to obtain water by drinking or via an improved water economy.

Foreign direct investment (FDI) in energy/electricity projects in the economies in transition

International Nuclear Information System (INIS)

Brendow, K.

1995-01-01

Registered foreign direct investments (FDI) in energy/ electricity projects in central and eastern Europe and the CIS are weak and disappointing compared with expectations and business opportunities. In addition, energy FDI is highly concentrated in oil and gas exploration/extraction. FDI opportunities in electricity generation, transmission and distribution while being explored, have not been implemented, mostly for legislation restriction reasons towards foreign participation. The major issue appears to be the extent of privatization of this politically and socially sensitive industry. Progress are made in Hungary, Poland and the Czech Republic. A significant breakthrough depends on political stability, economic recovery and progress in privatization. 2 figs

Bollywoodization of foreign policy: How film discourse portrays tension between states

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Azmat Rasul

2015-07-01

Full Text Available As the nexus between film industry and state apparatus has grown critical and complex in the wake of war on terror, academic circle have paid attention to identify the patterns of relationship between entertainment industry of a country and its foreign policy. To understand the role of the soft power in assisting governments to secure their interests at international level, this article examines the relationship between Bollywood and the Indian foreign policy through the lens of critical political economy of communication approach. Popular films portraying tension and cooperation between the South Asian neighbors were critically analyzed, and the results indicated that Bollywood closely followed the foreign policy initiative of the Indian government.

The reliability of the Extra Load Index as a measure of relative load carriage economy.

Science.gov (United States)

Hudson, Sean; Cooke, Carlton; Lloyd, Ray

2017-09-01

The aim of this study was to measure the reliability of the extra load index (ELI) as a method for assessing relative load carriage economy. Seventeen volunteers (12 males, 5 females) performed walking trials at 3 km·h -1 , 6 km·h -1 and a self-selected speed. Trial conditions were repeated 7 days later to assess test-retest reliability. Trials involved four 4-minute periods of walking, each separated by 5 min of rest. The initial stage was performed unloaded followed in a randomised order by a second unloaded period and walking with backpacks of 7 and 20 kg. Results show ELI values did not differ significantly between trials for any of the speeds (p = 0.46) with either of the additional loads (p = 0.297). The systematic bias, limits of agreement and coefficients of variation were small in all trial conditions. We conclude the ELI appears to be a reliable measure of relative load carriage economy. Practitioner Summary: This paper demonstrates that the ELI is a reliable measure of load carriage economy at a range of walking speeds with both a light and heavy load. The ELI, therefore, represents a useful tool for comparing the relative economy associated with different load carriage systems.

Foucault's contributions for understanding power relations in British classical political economy

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Danielle Guizzo

2015-05-01

Full Text Available This paper analyzes the strategic role played by British classical political economy in constructing new technologies of power. Michel Foucault drew attention to a change that political economists promoted concerning the role of the state, which has been overlooked by historians of economic thought. This paper explores the main arguments provided by the most important British political economists of the 18th and 19th centuries on what concerns population management, State's role and economic dynamics in order to examine Foucault's considerations. Although British classical political economy consolidated the mechanism of markets and economic individuality, thus creating a system of truth that changed economic norms and practices, its discourse also established a political conduct that was responsible for creating mechanisms of control that disseminated new forms of power relations.

Foreign direct investment as an entry mode. An application in emerging economies

NARCIS (Netherlands)

Sels, A.T.H.

2006-01-01

This dissertation examines the determinants of foreign investment entry modes in Central and Eastern Europe during transition. Utilizing various theoretical bases in industrial organization and strategy, it attempts to distill a better understanding of the ownership choice between joint ventures and

Corporate governance in banks operating in Serbia with the majority foreign capital

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Obradović Zoran

2014-01-01

Full Text Available The importance attached to successful corporate governance in banks derives primarily from the importance that the banks have in the financial and economic system of the country. Namely, banks are the only legally authorized depositing institutions and as such are the main generators of savings and financing for the needs of economy by supplying it with the working capital, in view of a relatively small share that the capital market has in the economic system. During many years of sanctions, isolation and bombardment, our companies have remained without working capital. In addition, the advent of foreign investments often does not imply that the parent companies are providing sufficient working capital, but this capital must be provided from the domestic banks. What derives from such a role of banks is their immediate responsibility for proper allocation of free funds to the economy and their best deployment.

On the creative economy chain in Brazil: potential and challenges

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ANITA KON

2016-03-01

Full Text Available ABSTRACT The article presents an analysis of the Creative Economy in Brazil, showing its development potential for the generation of income and employment, in order to the country's development resumption. They are initially presented concepts and features of the Creative Economy for, in sequence, to analyze the economic development profile and potential of this industry in Brazil. The empirical part introduces some methodological aspects, in continuing with the analysis of the creative chain contribution to the generation of Value Added and employment in the country, and a vision of their foreign trade.potential. Finally, the challenges to the implementation of public policies are investigated.

Exploring the connections between green economy and informal economy in South Africa

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Suzanne Smit

2015-11-01

Full Text Available The notion of an inclusive green economy in the context of sustainable development and poverty eradication requires an approach that engages with the informal economy. However, the informal economy is generally ignored or undervalued in discussions on the green economy. This paper set out to bolster this argument by identifying the ways in which the green economy and the informal economy may be connected by establishing the extent to which policies and plans relating to green economy connect with the informal economy, and recognising several informal green activities. The barriers and opportunities for connecting the two spheres were also explored as well as possible ways in which such activities may be supported at different levels of organisation. In the case of South Africa, many informal green activities that contribute to sustainable livelihoods are recognised. However, issues pertaining to procedure, process and participation hinder the transition to a truly inclusive green economy.

What we buy with foreign aid.

Science.gov (United States)

Rowan, C T

1995-02-03

Some in the US view foreign assistance as some type of wasteful international welfare program. To the contrary, US foreign aid is invaluable investment in both the country's future and that of the world. 43 of the top 50 customers of American agricultural products were, for example, once foreign aid recipients. South Korea imports three times as much in US goods each year as it received in aid during the entire 1960s. Furthermore, President Bill Clinton's recent bypass of Congress to bail Mexico from its economic morass serves both US and Mexican interests. Helping to help the economy of Mexico afloat protected 750,000 US jobs which come from trade with Mexico as well as billions of dollars of investments by middle-class Americans in Mexico and Latin America. It is unfortunate that the Republican-controlled Congress fails to understand that the continuation of US foreign aid serves US interests while at the same time helping other less fortunate populations. It is clear that US aid over the decades has made an enormous positive impact upon the health and welfare of populations in developing countries worldwide, especially in the area of population assistance. Congressional leaders are considering cutting US foreign aid to developing countries by 10-20%, but that won't save much money. The US in 1994 spent $12.3 billion on foreign assistance, less than 1% of the federal budget and the lowest amount in the history of the aid program. About half of that was in military assistance, which would not be cut.

Determinants of Foreign Direct Investment in South East European Countries and New Member States of European Union Countries

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Bardhyl Dauti

2015-03-01

Full Text Available This paper accounts for the main determinants of Foreign Direct Investment flows to 5-SEEC and the 10-New Member States of the EU countries by using an augmented Gravity Model. The study takes into account country specific institutional factors that determine foreign investors’ decisions from 14 core European Union countries to invest into SEE-5 and EU-NMS-10 countries. From the results of the study we find that gravity factors and institutional related determinants like control of corruption, political stability, bilateral FDI agreement, WTO membership and transition progress appear to significantly determine inward FDI flows from core EU countries to host economies of South East European region and new European Union member states.

22 CFR 126.6 - Foreign-owned military aircraft and naval vessels, and the Foreign Military Sales program.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Foreign-owned military aircraft and naval vessels, and the Foreign Military Sales program. 126.6 Section 126.6 Foreign Relations DEPARTMENT OF STATE INTERNATIONAL TRAFFIC IN ARMS REGULATIONS GENERAL POLICIES AND PROVISIONS § 126.6 Foreign-owned military...

Rentierism in the Algerian economy based on oil and natural gas

International Nuclear Information System (INIS)

Machin Alvarez, Alejandra

2010-01-01

This essay analyzes Algeria's degree of adaptation toward possessing the constituent features of an oil and gas rentier economy, and whether its current status could be threatened by changes to its energy policy. With this aim, the article first uses empirical evidence to analyze different rentier features of the Algerian economy (the importance of the hydrocarbon sector, Algerian NOC Sonatrach's role in energy policy and revenue distribution). Second, the circuit that perpetuates rentier logic is described, the main conclusion being that the Algerian economy does indeed offer the very conditions that guarantee the self-perpetuation of rentierism. However, this conclusion is jeopardized by uncertainties stemming from two potential changes in the national status of the hydrocarbons sector: a greater presence of foreign hydrocarbon companies in Algeria, and growing internationalization by Sonatrach.

Domestic and foreign knowledge sources for innovation in internationalized Production Networks: the automotive and the iron and steel cases

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Hernan Alejandro Morero

2015-02-01

Full Text Available This paper studies the relative relevance of domestic knowledge sources for innovation in internationalized production activities in an emerging economy. Two Production Networks from Argentina with a different kind of internationalization were considered: organized around subsidiaries of multinational companies (the automotive case and organized around local headquarters (the iron and steel case. A multiple factor analysis was carried out and cluster techniques were applied using a specific innovation survey done to 163 automotive and iron and steel firms from Argentina from the period of 2001 to2005, to evaluate the relative importance of domestic and foreign knowledge sources. The main finding is that in a production network organized around domestic headquarters the best innovative performance underrates the importance of international linkages, in comparison with networks organized around foreign subsidiaries.

49 CFR 537.9 - Determination of fuel economy values and average fuel economy.

Science.gov (United States)

2010-10-01

... 49 Transportation 6 2010-10-01 2010-10-01 false Determination of fuel economy values and average fuel economy. 537.9 Section 537.9 Transportation Other Regulations Relating to Transportation (Continued) NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION AUTOMOTIVE FUEL ECONOMY REPORTS § 537.9 Determination of fuel...

Relative efficiency of hydrogen technologies for the hydrogen economy : a fuzzy AHP/DEA hybrid model approach

International Nuclear Information System (INIS)

Lee, S.

2009-01-01

As a provider of national energy security, the Korean Institute of Energy Research is seeking to establish a long term strategic technology roadmap for a hydrogen-based economy. This paper addressed 5 criteria regarding the strategy, notably economic impact, commercial potential, inner capacity, technical spinoff, and development cost. The fuzzy AHP and DEA hybrid model were used in a two-stage multi-criteria decision making approach to evaluate the relative efficiency of hydrogen technologies for the hydrogen economy. The fuzzy analytic hierarchy process reflects the uncertainty of human thoughts with interval values instead of clear-cut numbers. It therefore allocates the relative importance of 4 criteria, notably economic impact, commercial potential, inner capacity and technical spin-off. The relative efficiency of hydrogen technologies for the hydrogen economy can be measured via data envelopment analysis. It was concluded that the scientific decision making approach can be used effectively to allocate research and development resources and activities

Relative efficiency of hydrogen technologies for the hydrogen economy : a fuzzy AHP/DEA hybrid model approach

Energy Technology Data Exchange (ETDEWEB)

Lee, S. [Korea Inst. of Energy Research, Daejeon (Korea, Republic of). Energy Policy Research Division; Mogi, G. [Tokyo Univ., (Japan). Dept. of Technology Management for Innovation, Graduate School of Engineering; Kim, J. [Korea Inst. of Energy Research, Daejeon (Korea, Republic of)

2009-07-01

As a provider of national energy security, the Korean Institute of Energy Research is seeking to establish a long term strategic technology roadmap for a hydrogen-based economy. This paper addressed 5 criteria regarding the strategy, notably economic impact, commercial potential, inner capacity, technical spinoff, and development cost. The fuzzy AHP and DEA hybrid model were used in a two-stage multi-criteria decision making approach to evaluate the relative efficiency of hydrogen technologies for the hydrogen economy. The fuzzy analytic hierarchy process reflects the uncertainty of human thoughts with interval values instead of clear-cut numbers. It therefore allocates the relative importance of 4 criteria, notably economic impact, commercial potential, inner capacity and technical spin-off. The relative efficiency of hydrogen technologies for the hydrogen economy can be measured via data envelopment analysis. It was concluded that the scientific decision making approach can be used effectively to allocate research and development resources and activities.

Globalisation, Trade Openness and Foreign Direct Investment in Romania

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Dima Stela

2016-11-01

Full Text Available The paper analyses the trend of globalisation, trade openness and foreign direct investments (FDI in Romania and the link between them in the last 25 years. Data from UNCTAD, World Bank and KOF globalisation index were used in econometrical models testing the link between globalisation, trade openness and foreign direct investment. A strong positive and statistical validated link is found between globalisation and FDI, between trade openness and FDI, and between FDI and globalisation. In the context of Romanian economy, these three phenomena are interrelated and each of them is acting to potentiate the effect of the other. Moreover, a multivariate regression analysis emphasized the dependency between globalisation index and foreign direct investment, trade openness and market capitalisation. These results can be taken into account when national policies aiming to attract FDI and stimulating export-import activities are designed.

Foreign direct investment mode choice : entry and establishment modes in transition economies

NARCIS (Netherlands)

Dikova, Desislava; van Witteloostuijn, Arien

In this study, we bridge two streams of foreign direct investment literature, specifically studies on establishment mode choice (i.e., the choice between an acquisition and a greenfield establishment) and studies on entry mode choice (i.e., the choice between a wholly owned outlet and a subsidiary

The impact of migration on deaths and hospital admissions from work-related injuries in Australia

NARCIS (Netherlands)

Reid, Alison; Peters, Susan; Felipe, Nieves; Lenguerrand, Erik; Harding, Seeromanie

Objective: The shift from an industrial to a service-based economy has seen a decline in work-related injuries (WRIs) and mortality. How this relates to migrant workers, who traditionally held high-risk jobs is unknown. This study examined deaths and hospital admissions from WRI, among foreign and

Cointegration and Causality Test Among Export, Import, and Foreign Exchange

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Haryono Subiyakto

2016-06-01

Full Text Available The rupiah exchange rate, import, and export are the important indicators in economy, including the Indonesia economy. The debate regarding the relationship among the exchange rate, import, and export has been persisting for several decades. Some researchers found that there is a relationship among those three and others explained that there is no correlation among them. The aim of this research is to obtain the empirical evidence of the causal relationship among the export, import, and foreign exchange rate by using the monthly data from January 2010 to April 2014. The export and import data are the export and import values in US dollar. The exchange rate data is the median exchange rates of the Indonesian Bank. The Johansen Cointegration Test and the Granger Causality Test are used to analyze the data. The research result shows that export and import have no causal relationship at five percent. Next, the foreign exchange rate influences the export and import at 10 percent level. The result indicates that the foreign exchange rate has small effects on the export and import. Based on the results, the government should control the balance of trade and should not make any policy that is based on the exchange rate values. Finally, it can be said that the exchange rate policy is not effective in increasing the exports and reducing the imports.

The Influence of Low-carbon Economy on Global Trade Pattern

Science.gov (United States)

Xiao-jing, Guo

Since global warming has seriously endangered the living environment of human being and their health and safety, the development of low-carbon economy has become an irreversible global trend. Under the background of economic globalization, low-carbon economy will surely exert a significant impact on global trade pattern. Countries are paying more and more attention to the green trade. The emission permits trade of carbon between the developed countries and the developing countries has become more mature than ever. The carbon tariff caused by the distribution of the "big cake" will make the low-cost advantage in developing countries cease to exist, which will, in turn, affect the foreign trade, economic development, employment and people's living in developing countries. Therefore, under the background of this trend, we should perfect the relevant laws and regulations on trade and environment as soon as possible, optimize trade structure, promote greatly the development of service trade, transform thoroughly the mode of development in foreign trade, take advantage of the international carbon trading market by increasing the added value of export products resulted from technological innovation to achieve mutual benefit and win-win results and promote common development.

Advanced learners’ foreign language-related emotions across the four skills

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Katalin Piniel

2018-03-01

Full Text Available Individual differences researchers have recently begun to investigate the concept of emotions and their role in language learning (MacIntyre, Gregersen, & Mercer, 2016. Our aim is to report on a project exploring English majors’ feelings related to their use of foreign languages. Using a qualitative research design, participants were asked to write a paragraph in their mother tongue (Hungarian describing their emotional experiences in connection with foreign languages and one of the four language skills. Our database comprised altogether 166 paragraphs from 31 male and 135 female students, with 43 texts on listening, 35 on speaking, 47 on reading, and 41 on writing. With the help of content analytical techniques, the texts were divided into thematic units and coded by the two authors. A framework of academically-relevant emotions (Pekrun, 2014 was used to guide our initial coding and the categories were modified where it was felt necessary. Results indicate that the two emotions most frequently experienced by English majors are predominantly related to enjoyment and language anxiety, and these emotions vary not only according to the skill involved but also depending on the context of language use (in class or outside class.

Determinants of Foreign Direct Investment and Its Causal Effect on ...

African Journals Online (AJOL)

Foreign direct investment (FDI) is an important tool for the growth of any economy as it is more stable than several forms of capital flows. The consensus is that it provides the much needed requirement for economic development and growth. However, evidences in Nigeria have shown FDI crowding out of domestic firms and ...

Advanced Learners' Foreign Language-Related Emotions across the Four Skills

Science.gov (United States)

Piniel, Katalin; Albert, Ágnes

2018-01-01

Individual differences researchers have recently begun to investigate the concept of emotions and their role in language learning (MacIntyre, Gregersen, & Mercer, 2016). Our aim is to report on a project exploring English majors' feelings related to their use of foreign languages. Using a qualitative research design, participants were asked to…

Do Foreign-Owned Firms Provide Better Working Conditions Than Their Domestic Counterparts? A Comparative Analysis

OpenAIRE

Hijzen, Alexander; Martins, Pedro S.; Schank, Thorsten; Upward, Richard

2010-01-01

This paper analyses to what extent working conditions in foreign-owned firms differ from those in their domestic counterparts. It makes three main contributions. First, we replicate the consensus in the empirical literature by applying a standardised methodology to firm-level data for three developed (Germany, Portugal, UK) and two emerging economies (Brazil, Indonesia). We show that, consistent with previous evidence, foreign-owned firms offer substantially higher average wages than domestic...

INFLUENCE OF RELATIONS WITH INTERNATIONAL FINANCIAL INSTITUTIONS ON INSTITUTIONAL TRANSFORMATIONS OF ECONOMY

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Galyna POCHENCHUK

2014-12-01

Full Text Available The article deals with the problem of the impact of transitional countries cooperation with international financial institutions on institutional changes which take place in emerging market economies, on the base of Ukraine. Research is carried out from the standpoint of institutional theory. The main reforms that took place in emerging market economy countries were based on the Washington Consensus strategy recommended by international financial institutions. The results of implementing this strategy are varied in different countries. In Ukraine strict adherence to requirements in the early stages of reforms without internal institutional conditions and characteristics led to a deep and protracted crisis of forming a "transformational stability." The general formal institutions of the market economy have been created according to the neoliberal concept which is provided by IFIs. However, experience of transitive economies including Ukraine, confirms the ineffectiveness of many established formal institutions borrowed from the developed countries. The author reviews the basic theory of institutional changes, argues that the terms of cooperation circulated by international financial institutions not only affect economic development strategy, but also determine the role of the national government in relations with markets. Under present conditions prevailing in Ukraine, it is impossible to manage without assistance of international financial institutions. But we need to pay more attention to technical and advisory cooperation in realization of institutional reforms, and credits – to take as a required time for receiving the results of reforms.

WAYS TO ATTRACT ADDITIONAL INVESTMENTS IN THE ECONOMY OF UKRAINE

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Volodymyr Boreiko

2016-06-01

Full Text Available In the article investigated the role of investment resources in ensuring the dynamic development of the economy of countries; analyzed the dynamics earnings of direct foreign investments in Ukraine and deposits of the population attracted by commercial banks; proved that to create a favorable environment for investors, Ukraine should strengthen legal protection of the commercial interests of investors and provide them with tax breaks, provide insurance their of industrial and commercial risks, cancel taxation of deposits of citizens and to reimburse them the full amount of deposits in bankruptcy of commercial banks. Keywords: investment resources, economy of country, population deposits, legal protection, risk insurance, tax benefits. JEL: O 16

The effect of informal economy on income inequality: Evidence from Turkey

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Elveren Adem Y.

2016-01-01

Full Text Available By considering the manufacturing pay inequality index as a proxy for overall income inequality and a novel index for the informal economy, this study analyzes the relationship between income inequality and the size of the informal economy in Turkey for the first time during the period of 1963-2008. For this purpose, we employ a time-series analysis with the Johansen cointegration test, a vector error correction model and the Granger causality tests. The findings suggest that while an increase in income inequality and foreign trade competitiveness leads to an expansion of the informal sector, unemployment has negative effects on the informal sector.

Rentierism in the Algerian economy based on oil and natural gas

Energy Technology Data Exchange (ETDEWEB)

Machin Alvarez, Alejandra [Grupo de Investigacion sobre Economia Politica de la Mundializacion, Departamento de Economia Aplicada I, Facultad de Ciencias Economicas y Empresariales, Universidad Complutense de Madrid, Campus de Somosaguas, 28223 Madrid (Spain)

2010-10-15

This essay analyzes Algeria's degree of adaptation toward possessing the constituent features of an oil and gas rentier economy, and whether its current status could be threatened by changes to its energy policy. With this aim, the article first uses empirical evidence to analyze different rentier features of the Algerian economy (the importance of the hydrocarbon sector, Algerian NOC Sonatrach's role in energy policy and revenue distribution). Second, the circuit that perpetuates rentier logic is described, the main conclusion being that the Algerian economy does indeed offer the very conditions that guarantee the self-perpetuation of rentierism. However, this conclusion is jeopardized by uncertainties stemming from two potential changes in the national status of the hydrocarbons sector: a greater presence of foreign hydrocarbon companies in Algeria, and growing internationalization by Sonatrach. (author)

Mexico Under NAFTA: Accounting Information In a Changing Economy

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Juan M. Rivera

1998-08-01

Full Text Available Mexico has successfully implemented policies to open foreign trade, stabilize the Peso, control inflation, deregulate private business, scale back state enterprises, eliminate bureaucratic red tape, and welcome foreign investment. This process started before NAFTA was considered; however, NAFTA helped in making these economic changes more permanent. Given a more propitious business environment, understanding the financial information reported by Mexican firms constitutes a relevant inquiry. This paper analyzes features of the accounting model used in that economy and compares them against the characteristics of its counterpart accounting practice in the U.S. As a whole, the Mexican accounting practice has achieved a reasonably good level of competence. In their quest to find solutions to problems and issues not yet covered by their accounting norms, the Mexican Accounting Principles Committee has paid close attention to the U.S. GAAP and to the principles advanced by the International Accounting Standards Committee. A new Law of the Securities Market has added mechanisms to guarantee a healthy operation of the securities market and to increase the transparency of transactions and financial disclosures of the companies whose securities are traded in the exchanges. All this is a reflection of the new open economy and free market mechanisms embraced by the Mexican government.

Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts

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Elchin SULEYMANOV

2014-07-01

Full Text Available After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country’s oil and natural gas reserves have been considered the main source for financing a range of government programs for reforms. On the one hand, these reserves had to be used effectively; on the other hand, there was a huge demand for foreign investment for extraction. To this end, Azerbaijan has signed “Contract of the Century” in 1994. Although Azerbaijan has wide oil and natural gas reserves, it has faced a number of difficulties in its transition path. This study analyzes these problems and reforms for solving them. One of the types of the problems related to the economic structure of the former Soviet Union: disruption of the economic ties between the republics resulted in a decline of production, high levels of unemployment and prices and consequently led to an economic recession in all of the republics. Another set of problems related to the lack of sufficient institutional bases to transform to the market economy. Moreover, internal conflicts between the political parties and groups for having authority as well as political chaos in the republic can be considered other serious problems during the transition period. Furthermore, Karabakh war and occupation of 20 percent of the Azerbaijani territory by the Armenian military forces had made the situation extremely complicated. Despite all of these extremes, Azerbaijan transformed to the market-based economy decidedly and even became one of the fast growing countries of the world. Even in 2013, with the GDP growth rate of 5.6 percent, Azerbaijan was a leader among growing economies. In parallel with this significant economic development, there is still a need for some socio-economic and institutional reforms in order to get a well-functioning market-based economy in Azerbaijan.

The impact of foreign direct investment on unemployment in Japan

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Milan Palát

2011-01-01

Full Text Available The flow of foreign direct investment is one of the indicators of economic interconnection with the rest of the world. The paper is aimed at evaluating of inward FDI flows into Japanese economy and unemployment development. For many decades, Japan has attracted considerably lower levels of inward FDI compared to other developed countries of the world. Also the rate of unemployment in Japan was relatively low which is caused by a specific attitude of the active population of Japan towards employment issues. Methods of regression and correlation analysis (including testing the statistical significance were used in the analysis of FDI and unemployment. The correlation has been approved between FDI and the rate of unemployment.

'Cold reality in the land of fire': The interrelations of Azerbaijan's natural gas export and foreign policy

Science.gov (United States)

Marosvari, Csaba

Azerbaijan, a landlocked post-Soviet country since its independence has been trying to utilize its energy resources in its foreign policy. With production-sharing agreements with Western oil companies beginning with the 1994 signing of the "Contract of the Century" and the construction of the Baku-Tbilisi-Ceyhan oil pipeline Azerbaijan successfully opened up its energy sector for foreign investment and used pipelines to stabilize its economy and underpin its foreign policy. The discovery of the Shah Deniz gas field opened up new opportunities for Baku to buttress its foreign policy goals with the export of natural gas. In this Master's thesis I will evaluate and show the importance and significance of natural gas export in Azerbaijani foreign policy.

Foreign direct investment and policy framework: New Granger causality evidence from African countries

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Rafiu Adewale Aregbeshola

2014-11-01

Full Text Available The strategic importance of foreign direct investment in the contemporary economies has been tremendous.While various countries (developed and developing economies have benefitted from the direct and spillovereffects of FDI, which range from improved technology and knowledge diffusion through to individual andcorporate capability enhancement, FDI outflow remains largely channelled to the developed countries, andthe rapidly developing countries in Asia and South America. Evidence suggests that the developmentenhancingeffects of FDI are felt more highly in the developing economies, such as economies in Africa.However, FDI inflow to the developing economies has been very low. Using data generated from the AfricanDevelopment Indicators (ADI between 1980 and 2008 in econometric estimations, this paper finds thatgovernment policies (especially fiscal and monetary policies play significant roles in facilitating FDI inflow tothe African countries studied. The study thereby suggests an improved regulatory framework to make Africamore attractive to inflow of FDI.

POLAND`S OUTWARD FOREIGN DIRECT INVESTMENT

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Buczkowski Bogdan

2013-07-01

Full Text Available The paper contributes to the discussion of motives, determinants and effects of outward FDI of companies from emerging economies. We analyze the the scale, structure, geographical location and effects of Polish foreign direct investments as well as we prioritize their determinants. The interest of Polish companies in investing abroad has increased sharply over the last decade, due to the need to broaden the scale of business operations and geographical scope of their economic activities after the Poland`s accession to the European Union.

THE DILEMMA OF DEMAND SIDE POLICIES VERSUS SUPPLY SIDE POLICIES FOR RELAUNCHING CAPITALIST ECONOMIES

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PETRE PRISECARU

2014-11-01

Full Text Available The first important economic recession in this century started in USA with the burst of real estate bubble followed by the bankruptcy of some investment and commercial banks and the collapse of capital market. The financial-banking crisis spilt over the world economy and caused the second deepest economic recession in the last 80 years. The financial crisis has badly affected almost all market economies and was the result of a combination between market failures and mistakes made in macroeconomic policies. In the financial sector there was not enough regulation and supervision of corporate governance while in goods industry the pressure of over-regulation led to higher factor costs and supply contraction. The direct result of supply side policies and particularly of monetarist instruments is seen now clearly in the USA: large deficits, huge debts, reduced savings, heavy dependence on foreign money (capital and resources, relatively low domestic output and supply.

Chaoticity in the time evolution of foreign currency exchange rates in Turkey

Science.gov (United States)

Cakar, O.; Aybar, O. O.; Hacinliyan, A. S.; Kusbeyzi, I.

Tools from chaos theory that have found recent use in analysing financial markets have been applied to the US Dollar and Euro buying and selling rates against the Turkish currency. The reason for choosing the foreign exchange rate in this analysis is the fact that foreign currency is an indicator of not only the globalization of economy but also savings and investment. In order to test the globality assumption and to ascertain the degree of involvement of local conditions in Turkey, the Euro and US dollar exchange rates have been subjected to the same analysis.

Does Public Investment Boost Economic Growth? Evidence from An Open-Economy Macro Model for India

OpenAIRE

Pal, Soubarna

2008-01-01

Using annual data for India for the period 1984-2003 and employing parametric technique (GMM), the present paper jointly determines GDP growth, real exchange rate and net foreign assets in Indian economy. There is evidence that public investment exerts a significant influence on real exchange rate and the growth rate and does so non-linearly. A comparison of the Indian estimates with those available for the UK and the USA economies is also revealing and highlights the role of governance on th...

The Economic Dimension in China’s Foreign Relations: Reflections for China Studies in the Philippines

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Tina S. Clemente

2017-12-01

Full Text Available This essay elucidates the economic dimension of China’s foreign relations in aid of gleaning critical reflections on how China Studies in the Philippines can better consider China’s development experience and the Philippines’ economic engagement with China. Whether Philippines-China relations are tense or warm, the discourse on bilateral ties is dominated by interrogations from the vantage points of international relations, diplomacy, politics, and security analysis, which feature peripheral content on economic analysis even when improving economic linkages is invoked as a focal point of relations. Meanwhile, existing economic studies that touch on the bilateral relations do not have the interdisciplinary or area studies approach that must underpin the analysis. Employing a qualitative research design that involves content analysis, key informant interviews, and comparative reflection, the essay begins with an overview of how China’s development strategy has shaped its foreign relations. The essay opens with a brief overview of how China’s development strategy evolved since 1 978. The next section focuses on innovations in foreign relations and China’s grand new initiatives. What follows is the section on China’s need for further development, which consists of a discussion on inclusive development issues and resource demand. The fourth section underscores insights for China Studies in the Philippines. The essay ends with closing remarks.

Depletion policies for oil-exporting developing economies

Energy Technology Data Exchange (ETDEWEB)

Stournaras, Y A

1984-01-01

The fact that most oil-exporting countries are developing economies has important implications for oil supply which have not been properly taken into account in the literature on exhaustible resource depletion. The way in which depletion policies are affected by trade uncertainty, given the high degree of the major oil exporters' 'dependence' on crude oil revenues, by investment time lags which delay the exploitation of (some of) these countries' comparative advantage in a petroleum based development, and by ideological objections to the ideal of a rentier society and to foreign capital are examined.

IS IT POSSIBLE TO REDUCE THE STOCK OF FOREIGN RESERVES?

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Marcello Spanò

2011-07-01

Full Text Available This work determines the optimal reserves to short term debt ratio of an exporting economy indebted in foreign currency and suggests possible remedies to reduce it. Theoretical results and numerical simulations establish that the ratios recently observed reflect the increasing weight assigned to the risk of firms going bankrupt. They also establish that neither a lower risk premium charged by international lenders nor a lower exchange rate volatility reduce the stock of reserves significantly. Full elimination of the need to hold reserves to prevent financial crises should rely either on limiting foreign capital inflow or on reforming the international monetary system.

Impact of Worker Remittances on Economic Growth of Pakistan: Analysis of Pakistan’s Economy

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M. Mobeen Shafqat

2014-06-01

Full Text Available We make this study for the purpose of getting logical answer about avery famous matter regarding contribution of worker’s remittance in the growth of the economy of Pakistan. We also include different variables to evaluate the exact effect of foreign exchange earnings in economic growth of Pakistan by using time series data for the duration of 1991 to 2010. Here we applied OLS multiple regressions model and also check the assumptions of OLS by different diagnostic tests. The empirical and quantitative results describe that foreign remittance are the famous mean of economic growth and have significant positive relationship with each other. The productive use of this paper can help the economy of Pakistan to maintain and improve the economic growth by investing this money into different long term and short term projects. Pakistan’s Government should provide different incentives and lower down the cost of transactions to attract the overseas Pakistani emigrants that sent money through unofficial ways.

The impact of oil price volatility on the future of the U.S. economy

International Nuclear Information System (INIS)

Boyd, Roy; Doroodian, K.; Thornton, Dennis

2000-01-01

This paper examines the impact of a foreign oil price shock on domestic energy markets as well as the U.S. economy as a whole. The analytical approach employed in the analysis consisted of a dynamic CGE model composed of eight production sectors, eight consumption sectors, three household categories classified by income, foreign sector, and the government. The results show that oil price shocks will have, as expected, a significantly positive effect on crude oil production. We also find that such price shocks negatively affect the refinery sector as input costs rise there. A decline in per-well productivity has the effect of dampening the rise in crude oil extraction and causing a further decline in refinery output. Economy-wide, the impact of a new series of oil price shocks is quite limited with overall welfare falling, but nowhere near the levels experienced in the 1970s and early 1980s. (Author)

The Impact of Foreign Ownership on Research and Development Intensity and Technology Acquisition in Indian Industries

DEFF Research Database (Denmark)

Aggarwal, Aradhna

2018-01-01

of the Center for Monitoring Indian Economy. Foreign ownership is categorized according to the level of control exercised by foreign firms as defined under the Companies Act of India. A comparative analysis of domestic and different categories of foreign firms was conducted for two time periods: (i) the global...... boom period of 2004–2008, and (ii) the post global financial crisis period of 2008–2014. A horizontal cluster analysis of 3-digit, industry-level data shows that foreign firms cluster in high-technology industries. The propensity score matching analysis, however, reveals that in a matched sample...... of foreign and domestic firms, majority-owned foreign firms spend less on research and development and more on technology transfers than their local counterparts, demonstrating that the level of equity holdings by a foreign firm matters. There is little evidence of the global financial crisis affecting...

Regulating the sharing economy

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Kristofer Erickson

2016-06-01

Full Text Available In this introductory essay, we explore definitions of the ‘sharing economy’, a concept indicating both social (relational, communitarian and economic (allocative, profit-seeking aspects which appear to be in tension. We suggest combining the social and economic logics of the sharing economy to focus on the central features of network enabled, aggregated membership in a pool of offers and demands (for goods, services, creative expressions. This definition of the sharing economy distinguishes it from other related peer-to-peer and collaborative forms of production. Understanding the social and economic motivations for and implications of participating in the sharing economy is important to its regulation. Each of the papers in this special issue contributes to knowledge by linking the social and economic aspects of sharing economy practices to regulatory norms and mechanisms. We conclude this essay by suggesting future research to further clarify and render intelligible the sharing economy, not as a contradiction in terms but as an empirically observable realm of socio-economic activity.

Foreign students as a resource of skilled workforce in the region (on materials of sociological survey

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Rubinskaya Eteri, D.

2015-09-01

Full Text Available Scientific and technical revolution leads to permanent changes in the structure of social production. As a consequence, in employment increased the demand for specialists in a specific profile, depending on the development of science and industry at this stage. Russian post-industrial economy is impossible without a sufficient number of qualified professionals required by the economy. One of the effective ways to ensure country qualified professionals is foreign graduates who have received after graduation the opportunity to stay and work in the labor market of the host country. The paper presents results of sociological survey of international students in the Southern Federal University. The objectives of the survey was to determine the migration attractiveness of the Rostov region, conditions of adaptation and integration of foreign students, as well as identifying the prospects of their involvement in the regional labour market after receiving education. On the basis of generalization of the results in the paper drawn conclusions, given recommendations for improving conditions to attract of foreign students at the regional level.

中国发改委规范外资项目管理%NDRC standardises management of foreign-invested projects

Institute of Scientific and Technical Information of China (English)

无

2008-01-01

@@ China's National Development and Reform Commission (NDRC)on July 19 issued a circular to further standardise the management of foreign- invested projects in five aspects,in an effort to prevent the potential risks that abnormal inflow of foreign capital may have on healthy development of the Chinese economy and on the balance of international payment.

26 CFR 1.993-5 - Definition of related foreign export corporation.

Science.gov (United States)

2010-04-01

... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Domestic International Sales Corporations § 1.993-5... international sales corporation described in paragraph (b) of this section, (ii) It is a real property holding...) Foreign international sales corporation—(1) In general. A foreign corporation is a foreign international...

Determinants Of Foreign Direct Investment In Mauritius Evidence From Time Series Data

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Medha Kisto

2017-08-01

Full Text Available Over the last two decades Foreign Direct Investment FDI claimed an impressive economic record as it enables economy to transit from an agrarian to knowledge based economy. This paper focuses on the determinants and impact of FDI in Mauritius using annual time series data from 1975 through 2015. The Vector Error Correction Model VECM analysis reveals that macroeconomic variables namely inflation rates and exchange rate are among the major and important factor that affect FDI in Mauritius over this period of time. Exchange rate exhibited negative significant influence on FDI while interest rate affects FDI positively. The study therefore recommends that government should continue to diversify the export and tourism markets ensure stable macroeconomic policies implement reforms on doing business increase its expenditure in the area of infrastructural development and redirect FDI in productive sector of the economy as ways to accelerate the growth of Mauritian economy.

CURRENT TRENDS IN THE KNOWLEDGE ECONOMY

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Ciprian Ionel HRETCANU

2015-07-01

Full Text Available In this paper we discuss various aspects of the current economy known as the knowledge economy. Also we will review two indicators of this new economy, because these indicators presents a general plan on access, use and degree of diffusion of knowledge. Then, based on these indicators and taking into account other aspects, we outline the structure relations between "new economy" and "digital economy". Finally we present the main types of business existing in the digital economy.

22 CFR 92.40 - Authentication of foreign extradition papers.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Authentication of foreign extradition papers. 92.40 Section 92.40 Foreign Relations DEPARTMENT OF STATE LEGAL AND RELATED SERVICES NOTARIAL AND RELATED SERVICES Specific Notarial Acts § 92.40 Authentication of foreign extradition papers. Foreign...

DEDOLLARISATION DE L’ECONOMIE CONGOLAISE : Atouts, contraintes et perspectives.

OpenAIRE

MALINGUMU, Crispin

2015-01-01

This paper examines the reasons for the downward irreversibility of dollarization and analyses possibilities of de-dollarization of the Congolese economy. During the 2000s, stabilizing the macroeconomic framework has not ended this phenomenon. Indeed, the dollarization rate approximated by the ratio on foreign currency deposit on the total currency, deposit on total currency deposits passed respectively from on average of 35% in 2001 to more than 69.1% at the end of 2013 for the first while t...

New “stars” of global economy: TICKS comes to replace BRICS

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Iryna Chychkalo-Kondratska

2017-10-01

Full Text Available The paper discusses the reasons for the establishment of BRICS, and the role of the BRICS countries in the global economy today. Special attention is paid to the analysis of the factors, which caused the "destruction" of BRICS. The BRICS group is now being replaced by a new grouping of fast-growing economies – TICKS in which Russia and Brazil are replaced by Taiwan and South Korea. The authors analyzed the macroeconomic indicators of the TICKS countries and proposed a new structure of the grouping - Thailand, India, China, Korea, Singapore. These countries have fast-developing high-tech industries, increasing foreign investments and GDP, as it is proved here by the respective calculations of the authors.

A Study on the Information and Telecommunication Services of Ukraine as an Export-Oriented Sector of the Economy

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Rahman Mahbubur S.

2017-05-01

Full Text Available The aim of the article is to study the current status, main problems and prospects for the development of the information and telecommunication services of Ukraine at the domestic and foreign markets as an export-oriented branch of the economy. The statistical indicators of the industry structure in the dynamics at the domestic and foreign markets, the contribution to GDP and employment were analyzed; the matrix and correlation analyses were performed and, on the base of the results, forecast models for the development of indicators for sales, exports and staff costs were constructed. Recommendations on prospective directions of development of IT services and software, use of the key advantages of the industry for the development of the export-oriented sector of the national economy are offered.

NATION-STATE COMING BACK ON THE SCENE OF INTERNATIONAL RELATIONS

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Cristian Moisoiu

2017-07-01

Full Text Available This paper is trying to present the hypothesis of nation-state’s return as a relevant actor in foreign relations. Globalization, together with pax Americana, as a main nuclei of globalization, have extrapolated the idea of natural order and market economy, as it seemed that any discussion related to the role of state becomes obsolete. The recent events, with political and economic resonance, the market failures and instability, which required interventionist measures of the state for recovery and stability, major changes and trends of political spectrum, especially in the Western world have contradicted the prospect of natural order. Nevertheless, the discussion surrounding the role of state in economy, the invigoration of nation-state in international relations with possible future implications is regaining momentum.

Contemporary challenges in applying of the modified model CAPM with country risk premium in emerging economies

OpenAIRE

Petrović Dragana

2017-01-01

Modern approach in determining the expected return of foreign investors' investments is based on the evaluation investment in capital asset-CAPM (Capital Asset Pricing Model). In order to use the CAPM model for calculating the expected return of foreign investors in growing economies, it is developed the extended model CAPM with the risk premium in the country. This variant of the CAPM model has been used for estimating the cost of capital. This is the expected return on a portfolio of the co...

The MIRAB Model of Small Island Economies in the Pacific and their Security Issues: Revised Version

OpenAIRE

Tisdell, Clem

2014-01-01

The MIRAB model of Pacific island micro-economies was developed in the mid-1980s by the New Zealand economists, Bertram and Watters, and dominated the literature on the economics of small island nations and economies until alternative models were proposed two decades later. Nevertheless, it is still an influential theory. MIRAB is an acronym for migration (MI), remittance (R) and foreign aid (A) and the public bureaucracy (B); the main components of the MIRAB model. The nature of this model i...

Improving the competitiveness of Russian companies through internet commerce in the foreign trade

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Kozenko V.V.

2015-05-01

Full Text Available Virtual enterprises have become an independent entity conducting foreign activities and functioning of the online stores as additional sales channels is a prerequisite for increasing the development potential of the Russian economy and competitiveness of traditional Russian companies on the world market. In the present work we analyzed the dynamics of the development of e-commerce in Russia, given the author's definition of rating online stores are defined levels of their operation and the possible barriers to the further development of the foreign economic activity.

The Role of Cross-border Mergers and Acquisitions in Foreign Direct Investment: Evidence from the Chinese Stock Market

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Yu-Hua An

2009-12-01

Full Text Available In this treatise, we provide empirical evidence based on stock and operating performance measures to show how cross-border mergers and acquisitions (M&As are different from domestic transactions from the perspective of foreign acquirers. We analyze the shareholder wealth effect from 663 domestic and international M&As announced by Chinese corporations between 1994 and 2006. We have uncovered some differences between national and cross-border M&As. We find that foreign acquirers experience significantly higher stock and operating performance than transactions carried out only by domestic firms. Higher target gains for cross-border transactions are consistent with the acquirer's ability to correctly value or capture synergies in cross-border takeovers. We also examine the source of wealth gains in Chinese targets of foreign acquirers. We find that the exchange rate and taxes are more important in justifying the target premium in foreign takeovers than in domestic takeovers. Taken together, our results suggest that the realization of synergy is the main motive behind foreign takeovers. We also analyze the role of corporate governance in cross-border M&As. Consistent with our hypothesis, the dummy for B shares or H shares is positively related with the takeover premium, indicating that strong corporate governance standards influence the valuation process in transition economies.

Popular Education in Solidarity Economy

Science.gov (United States)

de Melo Neto, José Francisco; da Costa, Francisco Xavier Pereira

2015-01-01

This article seeks to show the relation between popular education and solidarity economy in experiences of solidarity economy enterprises in Brazil. It is based on diverse experiences which have occurred in various sectors of this economy, highlighting those experiences which took place in João Pessoa with the creation of a Cooperative of Workers…

Signs of political economy

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Bernard Lamizet

2015-12-01

Full Text Available Like any political system, economy is a system of signs and representations. The Semiotics of economy elaborates its analytical methods to interpret such signs, which give meaning to the economy by representing its performances in public debate and in the media. Four major features distinguish the Semiotics of political economy from other semiotic forms or other systems of information and political representation. First of all, the relationship between the signification of the economy and the real or the imaginary phenomena to which they refer always pertains to the order of values. The second characteristic of economic signs is the significance of the state of lack they express. The third characteristic of signs of the economy is the form of sign production, which can be designated by the concept of emission of signs and their diffusion. Finally, as all signs, the economic sign is arbitrary. In the field of Economics, such arbitrariness does not imply that the Subject is free to superimpose whatever value to the signs themselves, but refers to the rupture between the world and its possible transformation. The very meaning of the word economy is here at stake. Oikos, in Greek (the term from which the word economy is derived refers to a known, familiar space. Economy transforms the real, natural world into a symbolic social world, into a world of relations with others whom we recognise and whose actions are relatively predictable. It might be useful to consider the contemporary issue of debt, its implications and its multiple meanings, which includes both the ethical and moral dimension of the condemnation of debt as well as the imaginary political dimension based on the expression of an idea of independence.

ECONOMY AND SOCIAL ENVIRONMENT

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Oleg BOGOMOLOV

2008-12-01

Full Text Available Market reforms in the post-socialist countries have brought into sharp focus the problem of interconnection and interaction between the economy and the social environment. The economy is inseparable from politics and the operation of the political system, from the state of the social consciousness, the moral and cultural level of the population and from many other aspects of human life and behavior, in short, from everything that can be described by the concept of social environment. Society in every country is a single organism with closely interconnected and interacting parts and systems. Their conjugation and mutual influence are not always apparent and are often overlooked. It is quite easy to see how changes in policy affect the economy and then trace the feedback effect of the economy on policy. It is more difficult to discern the direct and feedback relationship of the economy with administrative relations, with the state of culture, science, morals and public opinion. Meanwhile, an underestimation of these mutual influences is a frequent cause of failures in socio-economic transformation. It is to be regretted that the reforms in Russia were accompanied by a dangerous disruption not only of the economy, but also of the entire system of social relations. What was primary here and what was secondary? In order to answer this question the paper takes a theoretical look at the problem of interaction between the economy and the social environment.

40 CFR 600.510-12 - Calculation of average fuel economy and average carbon-related exhaust emissions.

Science.gov (United States)

2010-07-01

... and average carbon-related exhaust emissions. 600.510-12 Section 600.510-12 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) ENERGY POLICY FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF... Transportation. (iv) [Reserved] (2) Average carbon-related exhaust emissions will be calculated to the nearest...

A Rule of Reason for Inward FDI: Integrating Canadian Foreign Investment Review and Competition Policy

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Grant Bishop

2016-10-01

Full Text Available The Investment Canada Act (ICA needs an overhaul. This reform must include a paradigm shift in thinking to a much less restrictive view about the benefits of foreign direct investment in Canada. Currently, the ICA operates under the presumption that foreign firms behave detrimentally to the Canadian economy: foreign acquirers are required to show “net benefit” to Canada and may need to make onerous commitments for maintaining output or employment. This attitude, a holdover from the ICA’s predecessor, the Foreign Investment Review Agency, has created an atmosphere which fosters protectionism and relies on economically incoherent factors to assess the merit of proposed transactions. It is time to shed that archaic attitude and adopt a more reasoned perspective. Rather than requiring each proposed transaction to provide proof for the specific benefit to Canada, the ICA should assume that foreign acquisitions benefit Canada unless there is proof to the contrary. A more welcoming, balanced and rational perspective would be that foreign acquisitions actually improve the productivity of Canadian companies and contribute to the wellbeing of Canada’s economy. The ICA is flawed in other ways, too. Some reviews of proposed transactions have become unnecessarily fraught with politics. Think of the recent politically enmeshed fretting over the bid that the state-owned Chinese Offshore National Company made for Nexen Energy, or Malaysia’s state-owned Petronas’ bid for Progress Energy Resources Corp. Indeed, there has been a very real fear of traditionally Canadian-owned institutions losing their Canadian essence to foreign ownership. Then, too, there is the federal government’s built-in ability to impose onerous conditions, or undertakings, on foreign acquirers. All this is clearly a deterrent to potentially beneficial foreign investment in Canada. Canada needs a new regime without nationalism, protectionism and politics. Ideally, this new

SELECTED MACROECONOMIC FACTORS OBSERVATION IMPACT ON THE ECONOMY OF THE REPUBLIC OF SERBIA AND THE WESTERN BALKANS IN THE OBSERVATION PERIOD 2000-2012, SHOWING RESULTS FROM 2008 TO 2012.

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BOGDAN LABAN

2017-12-01

Full Text Available The application of the neoliberal concept in the Western Balkans has had effects on the economies of those countries that can say das resulted in unsustainable economic growth and macroeconomic instability. Besides the application of the same given the developments that had features of weakness especially since 2008., from the onset of the global economic crisis. The consequences of the liberalization of international economic developments have enabled the countries of the Western Balkans obtain foreign investment in the form of foreign direct investment, but their economies have done even more dependent on foreign capital, which is increasingly going in economic activities that have a faster way could fertilize the invested capital.

Telecommunication Sector of the Russian Economy: Transformation Into a Global Information and Telecommunication Infrastructure

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Fokina Elena Anatolyevna

2014-12-01

Full Text Available The author concerns the current state and possible ways of telecommunication sector of the Russian economy development in the conditions of world economy globalization and suggests that the process of globalization reflects the current stage of telecommunication companies’ capital internationalization. The analysis of telecommunication sector shows that it is not only a perspective, highmargin and dynamically developing sector but is still one of the most integrated into the system of world economic relations. The stages of Russian telecommunication companies’ capital internationalization are determined, the internal connections between internationalization process and globalization are revealed. It is revealed that the new information and communication technologies development and expansion results in substantial increase in cooperation between economical entities and provides a sustainable long-term economical growth of telecommunication enterprises. The financial and operational data determining the effectiveness of telecommunication companies’ activity are presented. The analysis of tendencies promoting the extension of the market activity of Russian telecommunication companies at global information and telecommunication infrastructure shows that the main tendencies are the following ones: foreign capital inflow increase, capital integration and expansion of new services based on technologies convergence. The author reasonably concludes in recent times, the telecommunication sector of the Russian economy formation and development is determined by the existing global trends.

China’s Foreign Trade: The Response to Changing the Exchange Rate

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Izotov D. A.

2011-12-01

Full Text Available Based on official data of Chinese and international statistics assessment is given of the impact of the yuan revaluation on the parameters of China’s foreign trade by country (including in terms of crisis tendencies in the global economy. A regression analysis made it possible to obtain quantitative assessments of the responses of China’s foreign trade parameters by country, depending on different yuan revaluation (10% and 50% to the U.S. dollar. It is found that the yuan revaluation leads to reduction in the growth rates of both China’s exports and imports, with the responses by countries being different

THE EVOLUTION AND EFFECTS OF THE FOREIGN DIRECT INVESTMENTS IN ROMANIA

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DOBROTĂ GABRIELA

2014-02-01

Full Text Available Foreign direct investments are an important component of financial resources needed for the development of any economy. Attract them should represent a desideratum in economic development strategies, fact which requires providing a favorable climate, generated by a set of economic, political, social or legal conditions. The effects generated by FDI at the macroeconomic level, are reported in plan of economic growth, at the level of balance of payments and the state budget, and also on the labor market. In the paper are presented aspects of the process of attracting FDI in Romania after the transition to market economy and is realized a meaningful analysis of flows and corresponding balances between 2003-2012. The research has enabled the formulation of important conclusions regarding the evolution of FDI, their effects and the favorable conditions for their assimilation in the romanian economy.

15 CFR 30.52 - Foreign Trade Zones.

Science.gov (United States)

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Foreign Trade Zones. 30.52 Section 30.52 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade BUREAU OF THE CENSUS, DEPARTMENT OF COMMERCE FOREIGN TRADE REGULATIONS Import Requirements § 30.52 Foreign Trade Zones. Foreign...

The relation of age to low birth weight rates among foreign-born black mothers: a population-based exploratory study.

Science.gov (United States)

Deal, Stephanie B; Bennett, Amanda C; Rankin, Kristin M; Collins, James W

2014-01-01

In stark contrast to the J or U- shaped relationship between age and low birth weight rates (birth weight rates among US-born Blacks are lowest in their teens and rise with increasing age (ie, weathering). The age-related pattern of low birth weight rates among foreign-born Black mothers is unknown. To determine the relationship between age and low birth weight rates among foreign-born Black mothers. Stratified analyses were performed on the 2003-2004 National Center for Health Statistics vital record datasets of foreign-born Black mothers. Maternal age was categorized into six subgroups. Potential confounding variables examined included marital status, parity, and prenatal care usage. Foreign-born Black mothers (N = 143,235) demonstrated a J/U-shaped age-related pattern of low birth weight rates with the lowest rates observed among those in their twenties and early thirties. The subgroups of 15-19 and 35-39 year old mothers had low birth weight rates of 12.0% and 11.4% compared to 9.1% for 25-29 year old mothers; RR = 1.31 (1.22-1.42) and 1.25 (1.20-1.31), respectively. The J/U-shaped age-related pattern persisted independent of marital status, parity and prenatal care usage. Foreign-born black mothers do not exhibit a weathering pattern of rising low birth weight rates with advancing age regardless of traditional individual-level risk factors. Further research into the age-related pattern of birth outcome among impoverished foreign-born Black mothers is warranted.

Patterns of Foreign Direct Investment in Transylvania

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Aniela Raluca DANCIU

2016-03-01

Full Text Available Foreign direct investment (FDI has gained significant importance over the past decade as a tool for accelerating growth and development of transition economies. It is widely believed that the advantages that FDI brings to the standard of living and prospects for economic growth of the host nation largely outweigh its disadvantages. Despite the growing interest in the subject, to our knowledge, there is still no satisfactory empirical work which can explain the determinants of the spatial distribution of FDI flows into the separate regions of Romania, one of the largest new EU-member states. Thus, this research attempts to fill this gap by using a primary data from a questionnaire that covers the entire transition period. The main goal of this study is to identify the main determinants of the direct foreign investments in Central, West and North West Romanian regions. Basically, the study is constructed so, that it will provide a list of the main strengths and weaknesses of Center, West and North West regions, that would influence a foreign investor to choose the proper location for a future investment when developing his strategy.

MACROECONOMIC ENVIRONMENT AND GREENFIELD FOREIGN DIRECT INVESTMENT OF HOTEL BRANDS

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Jože Perić

2016-12-01

Full Text Available The powerful attraction of foreign direct investment (FDI is particularly important for further development of tourism. The strategically focused attraction of FDI in tourism has a much higher significance because of the multiple effects in relation to other segments of the economy. In this context, it is necessary to highlight the investment engagement and the presence of globally branded luxury hotels. The purpose of the study is to assess the macroeconomic environment, the effects of greenfield FDI in tourism and, consequently, the presence of global hotel brands using the comparative analysis of the selected countries as the methodological basis of this study. The research results indicate that a favorable macroeconomic environment plays an important role in attracting foreign capital. Countries that have a more favorable macroeconomic environment attract more greenfield FDI, and provide a greater presence of global hotel brands, and thus greater competitiveness. Also, the political stability, the encouraging macroeconomic business conditions, the elimination of administrative and legislative barriers, the elimination of the country's image as a corrupt destination and tourism staff education at all levels are particularly important for FDI in tourism.

Evaluation of Risks Related To Russian Power Grid Companies by Foreign Investors

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Daria L. Val'kova

2016-01-01

Full Text Available The article focuses on the impact of the current crisis on evaluation of risks related to Russian power grid companies by foreign investors as well as on prospects of raising foreign capital. The current situation resulted in a considerable deterioration of investment climate in Russia as well as in aggravation of industry-specific problems. Inflation growth, devaluation of the national currency, GDP decrease, drop in electricity consumption and the crisis in the banking sector negatively impact the investment profile of the country. This leads to increased risk premium for foreign capital investments in any type of Russian assets. At the same time industry-specific problems augmented as well. Those are primarily lack of transparency in regulation, which is subject to constant changes, growth in overdue receivables, limited access to modern technologies. All of the above had a considerable impact on the perception of Russian risks by international investors. A comprehensive approach is needed to improve the investment climate in the country and this would be largely defined by the general macroeconomic development of the Russian Federation and relations with other states. Consistent strategy and integrated actions of the Government and respective Ministries are of particular importance. As for the industry-specific factors, transparent and well-balanced long-term tariff system is the key condition for sustainable improvement of the situation in the sector, according to the major industry participants and leading experts. Thus, the article highlights changes in investor perception of the Russian power grid sector as well as relative impact on the industry development prospects. This analysis is the basis for further elaboration of recommendations regarding easing off of the crisis impact on the power grid companies as well as for assessment of prospects of meeting strategic industry development objectives.

Entrepreneurship in Virtual Economy: the Case of Currency One SA

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Ewa Badzińska

2017-11-01

Full Text Available Purpose: The scientifc purpose of the study is an attempted synthesis of interpretation of “the virtual economy” and “the virtual environment” in the Polish and foreign literature on the subject. The cognitive purpose thereof is to offer an identifcation and a qualitative analysis of the factors that determine the development of e-entrepreneurship using an example of business practice. Methodology: The theoretical basis of the study is a scientifc research of leading scholars on the theory of entrepreneurship in the context of virtual economy. An exploratory, qualitative case study methodology has been applied for the purpose thereof. The research has been conducted using the example of Currency One SA, operating on the currency exchange market in virtual economy. The application of the empirical method of a case study has made it possible to characterize the essence of e-entrepreneurship and present the studied phenomenon in business practice. Findings: Research results reveal an existence of interdependencies between the intellectual potential of staff members and the market success of a company. Explanation of the critical success factors, showing the implementation of innovative ICT solutions and stages of company development, illustrates how the existing theory is experienced by practitioners in virtual economy. Furthermore, the paper confrms the positive impact of e-entrepreneurship on the effectiveness of the company subject to analysis, and presents virtual economy as a completely new sphere through which it is possible to offer new products and services. Research implications: The rationale for conducting research on case studies is the need to orient the practice towards a better understanding of modern economic reality. The study may provide a starting point for empirical quantitative research, as well as act as a contribution to the discussion on entrepreneurship in the rapidly changing virtual economy. Originality: This

The rise of the BRIC countries and its impact on the Dutch economy

Energy Technology Data Exchange (ETDEWEB)

Groot, S.P.Y.; De Groot, H.L.F.; Lejour, A.M.; Moehlmann, J.

2011-11-15

In an earlier study, we already looked at the impact of the emergence of China and India on the Dutch economy. Only five years ago, we found that the share of China in total Dutch trade had more than doubled between 2000 and 2005. The speed at which change is taking place and the changes within the production sector call for a new assessment. The need for information is illustrated even further by the highly turbulent developments during the financial crisis, particularly in relation to trade. To provide a more general overview, we include Russia and Brazil in our analysis, while we occasionally present figures for a selection of other developing economies. Moreover, this analysis extends the previous studies by analyzing trade in goods and services and trade at the firm level, and by focusing more explicitly on foreign direct investments. Chapter 2 presents the stylized facts of the BRIC countries and the Netherlands, followed by a characterization of the economic developments in the BRIC countries since the 1980s. We present a decomposition of their economic growth and assess the importance of these factors for future growth. Chapter 3 discusses the development of goods and services trade and FDI between the BRIC countries and the Netherlands. This section compares and analyzes developments across several dimensions: international trade of goods and services at the macro level and product group level and foreign direct investment. The strong exporting sectors of these countries are compared and also the technological and human capital content of their products. Chapter 4 analyses trade and foreign investment decisions of Dutch firms. The aim is to understand the development of trade and FDI at a deeper level and to spot possible barriers with respect to bilateral trade and investment. Chapter 5 focuses on the macroeconomic impact of the emerging BRIC countries. We assess the impact on employment, value added and the price level in the Netherlands. Chapter 6 will

The rise of the BRIC countries and its impact on the Dutch economy

International Nuclear Information System (INIS)

Groot, S.P.Y.; De Groot, H.L.F.; Lejour, A.M.; Moehlmann, J.

2011-11-01

In an earlier study, we already looked at the impact of the emergence of China and India on the Dutch economy. Only five years ago, we found that the share of China in total Dutch trade had more than doubled between 2000 and 2005. The speed at which change is taking place and the changes within the production sector call for a new assessment. The need for information is illustrated even further by the highly turbulent developments during the financial crisis, particularly in relation to trade. To provide a more general overview, we include Russia and Brazil in our analysis, while we occasionally present figures for a selection of other developing economies. Moreover, this analysis extends the previous studies by analyzing trade in goods and services and trade at the firm level, and by focusing more explicitly on foreign direct investments. Chapter 2 presents the stylized facts of the BRIC countries and the Netherlands, followed by a characterization of the economic developments in the BRIC countries since the 1980s. We present a decomposition of their economic growth and assess the importance of these factors for future growth. Chapter 3 discusses the development of goods and services trade and FDI between the BRIC countries and the Netherlands. This section compares and analyzes developments across several dimensions: international trade of goods and services at the macro level and product group level and foreign direct investment. The strong exporting sectors of these countries are compared and also the technological and human capital content of their products. Chapter 4 analyses trade and foreign investment decisions of Dutch firms. The aim is to understand the development of trade and FDI at a deeper level and to spot possible barriers with respect to bilateral trade and investment. Chapter 5 focuses on the macroeconomic impact of the emerging BRIC countries. We assess the impact on employment, value added and the price level in the Netherlands. Chapter 6 will

Maximizing efficiency in the transition to a coal-based economy

International Nuclear Information System (INIS)

Brathwaite, J.; Horst, S.; Iacobucci, J.

2010-01-01

Energy is the lynchpin of modern society. Since the early 1970s, growing dependence on foreign energy sources, oil in particular, has constrained US independence in foreign policy, and at times, inhibited economic stability and growth. Addressing oil dependence is politically and economically complex. Proposed solutions are multifaceted with various objectives such as energy efficiency and resource substitution. One solution is the partial transition from an oil- to coal-based economy. A number of facts support this solution including vast coal reserves in the US and the relative price stability of coal. However, several roadblocks exist. These include uncertain recoverable reserves and the immaturity of 'clean' coal technologies. This paper provides a first order analysis of the most efficient use of coal assuming the transition from oil to coal is desirable. Scenario analysis indicates two possible transition pathways: (1) bring the transportation sector onto the electric grid and (2) use coal-to-liquid fuels to directly power vehicles. The feasibility of each pathway is examined based on economic and environmental factors, among which are energy availability, affordability and efficiency, and environmental sustainability. Results indicate that partial transition of the transportation sector onto the electric grid offers the more viable solution for coal-based reduction of the US oil dependence.

How extractive industries affect health: Political economy underpinnings and pathways.

Science.gov (United States)

Schrecker, Ted; Birn, Anne-Emanuelle; Aguilera, Mariajosé

2018-06-07

A systematic and theoretically informed analysis of how extractive industries affect health outcomes and health inequities is overdue. Informed by the work of Saskia Sassen on "logics of extraction," we adopt an expansive definition of extractive industries to include (for example) large-scale foreign acquisitions of agricultural land for export production. To ground our analysis in concrete place-based evidence, we begin with a brief review of four case examples of major extractive activities. We then analyze the political economy of extractivism, focusing on the societal structures, processes, and relationships of power that drive and enable extraction. Next, we examine how this global order shapes and interacts with politics, institutions, and policies at the state/national level contextualizing extractive activity. Having provided necessary context, we posit a set of pathways that link the global political economy and national politics and institutional practices surrounding extraction to health outcomes and their distribution. These pathways involve both direct health effects, such as toxic work and environmental exposures and assassination of activists, and indirect effects, including sustained impoverishment, water insecurity, and stress-related ailments. We conclude with some reflections on the need for future research on the health and health equity implications of the global extractive order. Copyright © 2018 The Authors. Published by Elsevier Ltd.. All rights reserved.

THE DUALITY OF FOREIGN DIRECT INVESTMENTS. SUSTAINABLE GROWTH FOR COMPANIES AND COUNTRIES

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LIVIU NEAMŢU

2016-04-01

Full Text Available Current civilization increasingly relies more and more on economic interdependence. In this context, the organizations, be they companies or states, are forced to grow by integrating these interdependencies into their development process. In this process of interdependent integration each participant identifies advantages wishing to exploit their own development process, pursuing a sustainable kind of development by avoiding any risks and identify as many opportunities. Direct investments in various world economies represent the spearhead for this process of identifying opportunities and reduce risk in a global development process. This process ensures both the safety on medium and long-term development and rapid application for their development plans of both companies and the economies of various countries of the world. Through this study we identified the main opportunities sought by world states in this process of internationalization of business and globalization of markets. But we also highlighted the limitations of this process and regulation needs of investing processes in order to ensure the sustainability of the process. The second advantaged component in this process of international expansion and increase of economic interconnection is represented by multinationals enjoying benefits far superior to those of states in the medium-term development. However the limits of investing process force the companies to require certain advantages or guarantees during the progress of investment processes. Thus, we highlight a duality of foreign direct investment opposing on the one hand the companies interested to secure their international operations and liberalization of markets and states requiring a relatively regulated investment process to avoid dependence on foreign capital.

The US economy: weakness of the "strong" recovery

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Wynne Godley

2004-06-01

Full Text Available The strategic prospects for the US (or any economy can be evaluated by reference to the financial balances of its main sectors, which are related to one another by a consistent accounting system. The 1992-2000 expansion, accompanied by a rising budget surplus, was greeted by a storm of self-congratulation in the US and widely expected to last indefinitely. But inspection of the balances revealed that the configuration of driving forces was unsustainable and that the fiscal stance should drastically change at some stage. Eventually, there has indeed been a huge fiscal expansion which warded off an incipient recession. But the new configuration of financial balances again reveals an unsustainable situation, with government, foreign and private debt all rising excessively fast. Sustained growth in the medium term can only be achieved if there is now a prolonged expansion in net export demand--for which the rest of the world does not seem to be well prepared.

Sanctions, Smuggling, and the Cigarette: The Granting of Iran Office of Foreign Asset Control's Licenses to Big Tobacco.

Science.gov (United States)

Batmanghelidj, Esfandyar; Heydari, Gholamreza

2014-02-01

Presuming that tobacco taxes, levied both as import duties and ad valorem, would financially benefit the Iranian Government, such the introduction of a highly desired US product to the market would be antithetical to the sanctions regime currently in place. This paper as a systematic review and documents through Pubmed and webs seeks to understand the politician economy implications of nicotine addiction in Iran, focusing on the US office of foreign asset control's (OFAC) awarding of Iran operations licenses to American tobacco companies. By comparing Iran's tobacco industry and the attendant public health crisis that has arisen from high rates of nicotine addiction, to conditions in Turkey, it can be demonstrated that Iran is uniquely unable to extract revenues from the sale of tobacco products. The primary point of comparison between Iran and Turkey is smoking-attributable annual productivity loses of each country as estimated through the use of smoking-attributable mortality, morbidity and economic costs software (SAMMEC) and the available related literature. Based on the calculations derived from the SAMMEC model, Iran is burdened with an incredible cost to the economy borne by a high prevalence of smokers. It is concluded that an awareness of this condition enables OFAC to award licenses to big tobacco without fear of undermining current foreign policy initiatives.

Multinational companies from transition economies and their outward foreign direct investment

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Wladimir Andreff

2017-12-01

Econometric testing shows that push factors are major determinants of OFDI. The results demonstrate that OFDI is determined by the home country's level of economic development, the size of its home market, and its rate of growth as well as technological variables: OFDI decreases with an increase in the number of scientists in the home economy and with an increase in the share of high-tech products in overall exports, exhibiting a negative technological gap. A lagged relationship between OFDI and previous inward FDI suggests that Mathews’ linkage-leverage-learning theory is relevant in the case of PTEs.

Does SDDS Subscription Reduce Borrowing Costs for Emerging Market Economies?

OpenAIRE

John Cady

2005-01-01

Does macroeconomic data transparency-as signaled by subscription to the IMF's Special Data Dissemination Standard (SDDS)-help reduce borrowing costs in international capital markets? This question is examined using data on new issues of sovereign foreign-currency-denominated (U.S. dollar, yen, and euro) bonds for several emerging market economies. Panel econometric estimates indicate that spreads on new bond issues declined on average by close to 20 percent, or by an average of about 55 basis...

FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM

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Eugen Ghiorghita

2016-09-01

Full Text Available During the 40 years (1949-1989 of centralized management of the economy, Romania was transformed from an agrarian-industrial country into an industrial-agrarian country, but not beyond the stage of a developing country. Planning the formation of the accumulation fund and the fixed funds allocation made possible to faster diversify and increase the industrial production. In a first stage, during the 8th decade (1971-1980, the increase in imports of capital goods needed in industries’ technology revamping engendered the growth of Romania's foreign debt. In the 9th decade, the policy of forced payment of previously accumulated foreign debt was achieved by aggressive compression of imports and boost of exports. At the end, in 1989, Romania's foreign trade structure corresponded almost completely to the structure of the supply from the countries producing industrial processed goods. From this point of view, Romania became, after four decades of accelerated development, an acceptable client to Western exporters.

Inflation targeting in advanced vs. emerging economies before and after the crisis

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Josifidis Kosta

2014-01-01

Full Text Available Emerging economies have specificities which distance them compared to advanced economies in practicing inflation targeting (IT monetary regime. One of the main differences in performing IT in advanced compared to emerging economies is “fear of floating” problem in emerging group. However, on the road from exchange rate (ER as a nominal anchor to IT, differences between advanced and emerging economies concerning “fear of floating” have been more or less narrowed. In this paper we are concentrated to selected aspects of ER pass-through to prices and output, as well as (indirect monetary policy reactions to ER shocks, trying to find out is significant difference observable between advanced and emerging IT countries in pre-crisis period and (postcrisis period. The comparison is made on the basis of forecast error variance decompositions from estimated Vector Autoregression (VAR / Vector Error Correction (VEC models. “Fear of floating” phenomenon should not be exclusively applied to emerging economies, especially in the crisis period burdened with external shocks. The role of ER in IT monetary framework is strengthened with higher internal vulnerability to ER shocks, despite the level of economic development. Advanced countries more use interest rate as an indirect way to withstand ER shocks, while emerging economies more use direct way via foreign exchange interventions to withstand the ER shocks.

JPRS Report, Soviet Union, World Economy and International Relations, No. 1, January 1988.

Science.gov (United States)

1988-05-23

ous sectors of the economy. Such sections might just as happily have been accommodated in any book on the country’s economy or in an economico ...of the military sector of the economy. Admitting the need for highly developed productive forces in order to build up the military might the author...military business. The high level of monopolization characteristic of the Japanese economy’s military sector is combined with a comparatively low volume

Rural poor economies and foreign investors: an opportunity or a risk?

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Angelo Antoci

Full Text Available In the current age of commercial and financial openness, remote and poor local economies are becoming increasingly exposed to inflows of external capital. The new investors - enjoying lower credit constraints than local dwellers - might play a propulsive role in local development. At the same time, inflows of external capital can have negative impacts on local natural resource-dependent activities. We analyze a two-sector model where both sectors damage the environment, but only that of domestic producers relies on natural resources. We assess under which conditions the coexistence of the two sectors is compatible with sustainability, defined as convergence to a stationary state characterized by a positive stock of the natural resource. Moreover, we find that capital inflows can be stimulated by an increase in the pollution intensity of incoming activities, but also in the pollution intensity of the domestic sector; in both cases, capital inflows generate environmental degradation and a decrease in welfare for the local population. Finally, we show that a reduction in the cost of capital for external investors and the consequent capital inflows have the effect to increase wages, local investments and welfare of the local populations only if the environmental impact of the external sector is relatively low with respect to that of local activities. Otherwise, an unexpected scenario characterized by a reduction in domestic capital accumulation and the impoverishment of local agents can occur.

The competitiveness of Slovak foreign trade in the European market

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Pavličková Viera

2013-01-01

Full Text Available The paper deals with the competitiveness of the Slovak Republic in its ability to succeed in foreign markets. It provides a complex view of Slovak foreign trade within the European Union using a sectoral classification of products. Several appropriate methods (Constant Market Share Analysis, Revealed Comparative Advantage, Michaely Index, and unit export and import values are applied to quantify the competitiveness of Slovak foreign trade and to identify the level and trend of its specialisation. The analysis uses the data provided by the Eurostat Comext database for the period 1999-2011. The results confirmed Slovakia as a former transition country to be a fast developing open economy. Its production is competitive in the European market, although mainly with prices. Labour- and capital-intensive commodities, along with the automotive industry, dominate Slovak foreign trade. Technology- and R&D-driven goods have a comparative disadvantage as a consequence of several factors, such as lack of innovation and creativity in the business sphere. A shift towards export of more sophisticated products would be beneficial in supporting long-term sustainable development; however, no significant change in Slovak commodity structure has occurred over the past years.

26 CFR 1.6041-4 - Foreign-related items and other exceptions.

Science.gov (United States)

2010-04-01

... notional principal contracts between the parties (for example, an International Swap and Derivatives... dollars of amounts paid in foreign currency. For rules concerning foreign currency conversion, see § 1...

Progressive Incrementalism: U.S Foreign Economic Policy Over the Next Four Years

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John M. Curtis

2013-01-01

Full Text Available As we look ahead following last year’s U.S. presidential and congressional elections, Canadians — and Canadian business in particular — will want to have a better sense of the economic prospects, as well as the context, of U.S. foreign economic policy over the coming half-decade or so. For, notwithstanding all the talk, debates, op-ed articles, thinktank-pieces and even books in recent years suggesting or asserting the decline of American economic power, Canada’s ever-present integration and interdependence with our southern neighbour is both a reality and now, again, an important, medium-term asset. Over the coming four years and likely beyond, and once it has completed sorting out its “fiscal cliff” matter, the U.S. is positioned to be the source of increasing economic growth. The American economy has strengths: its high productivity and innovation compared to most other countries, massive piles of private sector cash leading to all sorts of investment potential, a devalued currency, and a relatively young workforce compared to the European Union, Japan, and even Canada. Therefore, although the U.S. economy continues to face large challenges related to fiscal imbalances, there are reasons to expect increasing economic growth over the medium term.

Income from oil could have made Iraq's economy flourish

International Nuclear Information System (INIS)

Schoenweisner, R.; Hirman, K.

2003-01-01

He whole economy of Iraq is based on oil industry. 95 percent of Iraq's foreign currency income is traditionally related to oil export. Another typical feature of its economy is a high level of government interference and dependence on food import. Though Iraq has the second largest proven oil reserves in the world and a reasonably good transport and export infrastructure it is struggling with economical problems. It was the wars that have had a major impact on the country's economy during the last two decades. In late seventies and early eighties Iraq's economic perspectives seemed very positive. Iraq was winning 3.5 million barrels of oil a day and the export incomes exceeded 27 billion USD. Tedious wars with the neighbouring Iran in the eighties cost Iraq according to American CIA's estimates about 100 billion USD. Before the wars started Iraq's foreign currency reserves reached 35 billion USD but the high cost of the war and all damage done to the oil facilities caused that before it ended Iraq was forced to take credits and later even restructure the related repayments. By the end of the conflict Iraq's foreign indebtedness grew to exceed 40 billion USD. After the war ended conditions became more favourable for increasing volumes of oil export, building of new pipelines and reconstruction of damaged facilities. But only two years later Saddam Hussain's regime invaded Kuwait and this lead to a military intervention by a coalition lead by the USA and the United Nations inflicted economical sanctions against Iraq. As a result the economic activity in the country decreased dramatically. The limited recourses the country had were used to finance military forces. Living conditions of Iraq's citizens slightly improved in second half of the nineties after United Nations allowed the country to export a limited amount of oil in exchange for food, medicines and some spare parts needed for reconstruction of the infrastructure. In 1999 the United Nations adopted changes to

Golden Standard" in International Relations Training and The Effectiveness of Foreign Policy

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Andrey A. Baykov

2016-01-01

Full Text Available This article examines the main aspects of the IR experts' professional education and training, aimed at improving the efficiency of the foreign office staff. A new approach has been taken to the problem of updating and rationalization of the current academic programs (especially, MA training programs in order to boost the competitiveness of national educational system at the global education market. The main focus is shifted from marketing to quality and "content" characteristics of the professional training in IR studies' area within the organization of higher education. The author draws on the empirical data, collected by means of analysis, processing and generalization of expert assessments and evaluations of Russian and foreign participants of international faculty and university forums in International Studies in 2015. As a result, the article proposes an ideal model of the master's program, developed by the author, based on "benchmark"International Relations/World Politics programs, which are highly valuated by the respondents. Moreover, it examines the most relevant issues, concerning the framework of students' teaching process (including preparation of master's theses, further employment of graduates and, finally, the development/modernisation of teaching staff. In conclusion, the article highlights recommendations on probable reforms of higher education in IR studies' area. The author does not criticize the national education system destructively. On the contrary, the inevitable question is how to converge the best qualities of domestic and foreign institutions of higher education system in a harmonious way. The article is designed and might be of interest for higher education and training experts, as well as for a wide range of readers interested in the education and training of the foreign office staff.

Enabling frameworks for low-carbon technology transfer to small emerging economies: Analysis of ten case studies in Chile

International Nuclear Information System (INIS)

Pueyo, Ana

2013-01-01

Technology transfer is crucial to reduce the carbon intensity of developing countries. Enabling frameworks need to be in place to allow foreign technologies to flow, to be absorbed and to bring about technological change in the recipient country. This paper contributes to identifying these enabling factors by analysing 10 case studies of low-carbon technology transfer processes based in Chile. Our findings show the importance of strong economic and institutional fundamentals, a sound knowledge base, a sizable and stable demand and a functioning local industry. Policy recommendations are derived to improve the penetration of foreign low-carbon technologies in developing countries, focusing on the particularities of small and medium emerging economies. - Highlights: ► We analyse 10 case studies of low carbon technology transfer to Chile. ► We identify enablers of technology transfer to developing countries. ► We provide policy recommendations focusing on small and medium economies.

Depreciation of the Indian Currency: Implications for the Indian Economy.

OpenAIRE

Sumanjeet Singh

2009-01-01

The Indian currency has depreciated by more than 20 per cent since April 2008 and breached its crucial 50-level against the greenback on sustained dollar purchases by foreign banks and stronger dollar overseas. The fall in the value of Indian rupee has several consequences which could have mixed effects on Indian economy. But, mainly, there are four expected implications of falling rupee. First, it should boost exports; second, it will lead to higher cost of imported goods and make some of th...

The Optimal Taxation of Dividends in a Small Open Economy

OpenAIRE

Fuest, Clemens; Huber, Bernd

2000-01-01

This paper analyses the optimal taxation of dividends and other types of income from portfolio investment. We show that, in an open economy, it is not desirable to offer double taxation relief for dividends paid by domestic firms to domestic households. This result holds for fairly general utility functions. The reason is that the marginal shareholder in domestic firms is a foreign investor. This implies that the level of real investment is not affected by the taxation of domestic dividend in...

THE IMPORTANCE OF DIFFERENT TYPES OF COMPANIES WITH FOREIGN CAPITAL FOR ECONOMIC DEVELOPMENT

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CEAUSESCU IONUȚ

2017-08-01

Full Text Available The process of globalization of economic relations international, in particular capital investments, it is accompanied by a multitude of forms of cooperation technology between firms. Globalization means, first of all, communications, computer science, economy based on information and knowledge, innovations, free circulation of capital flows and the expansion of markets. The answer of a firm or of the economy in the global competition requires flexibility, innovation and learning continue, networking (in the network and the investment in the image of the brand. The response of a state to the demands of the global market, consists in transferring technology and attracting foreign investment by creating a favorable business climate. An attractive business environment for investors requires a consistent system of facilities on which to base a medium to long-term business plan. We propose that, within this short study, we should carry out a radiography of the main types of foreignowned companies that contribute to the economic growth process and, implicitly, long-term to the economic development.

Perception of Foreign Accent Syndrome Speech and Its Relation to Segmental Characteristics

Science.gov (United States)

Dankovicova, Jana; Hunt, Claire

2011-01-01

Foreign accent syndrome (FAS) is an acquired neurogenic disorder characterized by altered speech that sounds foreign-accented. This study presents a British subject perceived to speak with an Italian (or Greek) accent after a brainstem (pontine) stroke. Native English listeners rated the strength of foreign accent and impairment they perceived in…

Is Russia successful in attracting foreign direct investment? Evidence based on gravity model estimation

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Mariev Oleg

2016-09-01

Full Text Available The aim of this paper is twofold. First, it is to answer the question of whether Russia is successful in attracting foreign direct investment (FDI. Second, it is to identify partner countries that “overinvest” and “underinvest” in the Russian economy. We do this by calculating potential FDI inflows to Russia and comparing them with actual values. This research is associated with the empirical estimation of factors explaining FDI flows between countries. The methodological foundation used for the research is the gravity model of foreign direct investment. In discussing the pros and cons of different econometric methods of the estimation gravity equation, we conclude that the Poisson pseudo maximum likelihood method with instrumental variables (IV PPML is one of the best options in our case. Using a database covering about 70% of FDI flows for the period of 2001-2011, we discover the following factors that explain the variance of bilateral FDI flows in the world economy: GDP value of investing country, GDP value of recipient country, distance between countries, remoteness of investor country, remoteness of recipient country, level of institutions development in host country, wage level in host country, membership of two countries in a regional economic union, common official language, common border and colonial relationships between countries in the past. The potential values of FDI inflows are calculated using coefficients of regressors from the econometric model. We discover that the Russian economy performs very well in attracting FDI: the actual FDI inflows exceed potential values by 1.72 times. Large developed countries (France, Germany, UK, Italy overinvest in the Russian economy, while smaller and less developed countries (Czech Republic, Belarus, Denmark, Ukraine underinvest in Russia. Countries of Southeast Asia (China, South Korea, Japan also underinvest in the Russian economy.

GLOBALIZATION PRECONDITIONS FOR TRANSNATIONALIZATION OF THE WORLD ECONOMY

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Vyshnevska O.

2018-03-01

Full Text Available Globalization is a process that embodies the transformation of the spatial organization of the world and its regions, social relations and interactions measured by such indicators as: duration, intensity, speed and influence that give rise to intercontinental or interregional flows and structures of activity, interactions and manifestations at the socio-economic and ecological levels. The purpose of the study is to substantiate the priorities in ensuring the national security of the state in view of the impact of globalization factors, the introduction of approaches to the adaptation of the country’s economy to the processes of transnationalization of the world economy. Modern globalization of the world economy is reflected in the deepening of internationalization of production. Globalization is characterized by a positive and negative impact on different systems, an increase in the influence of the process of transnationalization. It is revealed that transnationalization is often understood by new phenomena, qualitative changes taking place in the world economy. Transnationalization is seen as a process of expanding the international activities of industrial firms, banks, service companies, and their exit from the national boundaries of individual countries, which leads to the growth of national companies in transnational. The main factors of the negative impact of TNCs on the economy of the recipient country are: the danger of introducing environmentally hazardous technologies; development of innovations in strategic enterprises of the defense industry; outflow of foreign investment due to negative macroeconomic trends; insufficient rates of development of branches of TNCs, due to the tendency to exaggerate the reaction to a possible change in market conditions. For the transnationalization of the economic sphere, the emergence and strengthening of the positions of international monopolies, transnational corporations, international financial

Semi-strong informational efficiency in the Polish foreign exchange market

OpenAIRE

Luksz Goczek

2015-01-01

During the financial crisis a notion that the Polish exchange rate is not determined effectively was very dominant, because of a contagion effect of the global financial crisis on the Polish economy. In addition, many foreign exchange market analysts explained developments in the Polish exchange market trough a hypothesis that the Polish zloty exchange rate follows other exchange rates. This contradicts market efficiency as this would lead to profitable arbitrage possibility based on past inf...

Direct foreign investment in power sector in India: Enron - a case study

International Nuclear Information System (INIS)

Singhyadav, S.

1996-01-01

In order to develop its economy at a faster pace, India needs to make large investments in its infrastructure - electric power being one such sector - domestic as well as foreign companies - to invest in this area. In response, Enron Corporation of USA entered into an agreement with the Maharashtra State Electricity Board to establish a 2-phase power project for a capacity of 2015 MW (695 MW in Phase I and 1320 MW in Phase II). Soon after the contract, there was a change of government in the State, as a result of elections. The new government scrapped the project tariff, etc. Since India is an emerging destination for foreign investments, scrapping of the project may have an adverse repercussion on the inflow of foreign capital in future as also on the cost of this capital. However, a renegotiated settlement will go a long way to establish the credibility of Enron as a serious multinational giant and India as a sage destination for foreign investments. (author). 19 refs., 3 tabs

CONSIDERATIONS ON THE EVOLUTION OF ROMANIAN FOREIGN TRADE UNDER THE IMPACT OF ECONOMIC CRISIS

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DOBROTĂ GABRIELA

2011-12-01

Full Text Available The foreign trade represent the engine of renewal of productive structures of developed countries and the essential vector for the development of newly industrialized nations as countries that can not be considered as belonging to the developing countries, mainly due to exports development. Nobody doubts the need for foreign trade and its possible beneficial effects for the economy of a country, which is supported by John Stuart Mill classical economist, who said that "openness to foreign trade ... is sometimes the effect of an industrial revolution as a country whose resources are poor" This paper analyses, on the one side, the importance of foreign trade and his evolution in 2001– 2010 period, and, on the other side, the consequences of the economic crisis on it. The period under review includes the last years of economic growth in Romania and the first years of actual economic crisis., because the global economic crisis is reflected strongly in the evolution of Romania's foreign trade, which in February 2009, has seen a veritable collapse over the same period of the previous year.

The Long-Term Impact of Foreign Multinational Enterprises in Spain: New Insights into an Old Topic

Directory of Open Access Journals (Sweden)

Núria Puig

2016-07-01

Full Text Available The role of foreign capital and technology in the economic and social progress of late-developing countries remains a controversial issue in both academic and policy circles. In this essay, we examine the case of Spain in the light of the academic literature from the 1960s to the present. First, we identify and contextualize the intellectual concerns and controversies of two important generations of economists and historians and their approaches to the specific issue of multinational enterprises (MNEs. We then discuss what we consider to be the seven major contributions of recent Spanish scholarship in terms of: 1/ new quantitative evidence on FDI inward flows and firm demography analyses of foreign MNEs; 2/ new approaches to the transfer of technology by MNEs; 3/ collective and individual case studies of foreign MNEs, with a focus on their impact on local capabilities; 4/ identification of patterns of investment by MNE home countries; 5/ identification and study of the local actors of inward FDI; 6/ new perspectives gained from the history of international relations; and 7 new evidence on processes leading from inward FDI to outward FDI. We argue that the time is ripe for comprehensive re-assessments of the long-term impact of foreign MNEs and the role of Spain in the global economy.

INTEGRATION OF TRADE AND DISINTEGRATION OF PRODUCTION IN THE GLOBAL ECONOMY

OpenAIRE

Robert Feenstra

2003-01-01

The last few decades have seen a spectacular integration of the global economy through trade. The rising integration of world markets has brought with it a disintegration of the production process, however, in which manufacturing or services activities done abroad are combined with those performed at home. The author compares several different measures of foreign outsourcing and argues that they have all increased since the 1970s. He also considers the implications of globalization for employ...

The Foreign Direct Investment and Economic Growth - Case Study for Kosovo

Directory of Open Access Journals (Sweden)

Dr.Sc. Myrvete Badivuku - Pantina

2015-12-01

Full Text Available This research paper will explain the impact and relationship between the Foreign Direct Investment (FDI and economic growth, Kosovo case. The used data in research are secondary data and cover a period of time between 2008 and 2013. By using STATA program for calculation and by various regression analyses (descriptive statistics, linear regression and correlation relationships have been identified between involved variables in research, where economic growth is defined as dependent variable, whereas FDI, interest rate and real effective and exchange rate (REER are defined as independent variables. The main results in this research paper indicate that FDI has a positive relation (0.011 but non-significant effect (T2 on economic growth in Kosovo. The real effective exchange rate has a negative (-0.347 and non-significant relation (T<2 with economic growth. The main activities of FDI in overall Kosovo's economy are: real estate, transport and telecommunication, financial and manufacture services, construction, etc. The main conclusion is that the Kosovo institutions should create a favorable environment, such as: political stability, enforcement of justice, reduction of trade barriers, Kosovo should also create appropriate policy for protection of foreign investors, investment security, fair competition and institutional support. This will impact the drastic improvement and increase of FDI. In 2013 Kosovo had an FDI percentage of 5% of GDP while in 2007 it was over 13% of Kosovo's GDP.

The underground economy in Romania

Directory of Open Access Journals (Sweden)

Adriana Veronica LITRA

2016-07-01

Full Text Available The paper aims at covering issues related to the underground economy, activities that compound this phenomenon, its magnitude in Romania and reported to the European average. Underground economy in Romania consists of undeclared work (2/3 from the total and unreported income; it decreased from 33.6% of GDP in 2003 to 28% in 2014, but remained over EU-28 average with about 10 p.p. Among EU-28 countries, only Bulgaria exceeds the size of the underground economy of Romania. The underground economy is a challenge for the leadership of the state which must act simultaneously to stop illegal activities, and to discourage non-declaration of the legal activities. Corruption favours maintaining the underground economy, delays economic development, obstructs democratic processes and affects justice and the law state.

FOREIGN DIRECT INVESTMENT IN POST-CONFLICT COUNTRIES: THE CASE OF IRAQ’S OIL AND ELECTRICITY SECTORS

Directory of Open Access Journals (Sweden)

Ghassan Faraj Hanna

2014-04-01

Full Text Available Foreign direct investment is new phenomenon to Iraq, a post conflict country with abundance of natural resources. With dominant state-controlled public sector, attracting foreign investment is an added challenge to an economy devastated by years of wars. A qualitative case study was conducted to assess determinants of foreign direct investment in Iraq’s energy sector. Data was collected from interviews with business and government subject matter experts, and a review of publically available documents. Lack of security, political instability, corruption, and inadequate government policies towards foreign direct investment as symptoms found and typically shared by other post-conflict countries. The persistence of violence was not seen as a deterrent; however, foreign direct investment activity in the energy sector was virtually limited to the semi-autonomous region of Kurdistan. Investments were either wholly-owned or joint-venture enterprises. Implications to other post conflict countries, using Kuwait and Nigeria as illustrative examples, are presented and recommendations made.

40 CFR 600.113-78 - Fuel economy calculations.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 29 2010-07-01 2010-07-01 false Fuel economy calculations. 600.113-78... FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy Regulations for 1978 and Later Model Year Automobiles-Test Procedures § 600.113-78 Fuel economy calculations. The...

40 CFR 600.113-88 - Fuel economy calculations.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 29 2010-07-01 2010-07-01 false Fuel economy calculations. 600.113-88... FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy Regulations for 1978 and Later Model Year Automobiles-Test Procedures § 600.113-88 Fuel economy calculations. The...

40 CFR 600.113-93 - Fuel economy calculations.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 29 2010-07-01 2010-07-01 false Fuel economy calculations. 600.113-93... FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy Regulations for 1978 and Later Model Year Automobiles-Test Procedures § 600.113-93 Fuel economy calculations. The...

An Econometric Analysis of the Determinants of Foreign Direct Investment in Africa

Directory of Open Access Journals (Sweden)

Manamba Epaphra

2018-03-01

Full Text Available This paper provides an empirical analysis on the determinants of FDI inflows in Africa. The dataset used for this paper spans from 1996-2016 and involves 48 African countries. For inferential analysis the paper employs random (RE effect model. Both structural factors and the quality of institutions and governance indices are examined. The key findings of the paper is that openness of the economy, GDP per capita and population growth have a substantial positive explanatory power over FDI in Africa. Similarly, control of corruption and political stability tend to exert a positive influence on FDI inflows in Africa. These findings provide some valuable insights into policy makers, practitioners, and foreign investors’ decision making. More so, to attract foreign investment in the less trade liberalized countries, Government policy should encourage further market liberalization. In the same vein, an effective policy on FDI in all economies should focus on improving production efficiency so as to raise GDP per capita and increase the market size. African Governments should also improve the quality of institutions and governance, especially in terms of enhancement of corruption control and political stability.

The Quality of Entrepreneurial Environment as a Factor of Foreign Direct Investments Inflows

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Peter Kuzmisin

2013-12-01

Full Text Available The content of this paper is built on the fact that foreign direct investments have the potential to influence the structure and quality of economic development and competitiveness that many scientific researches and studies have already confirmed. The paper presents entrepreneurial environment as a significant factor for increasing country’s competitiveness. It clarifies and proves relationship between entrepreneurial environment, or more precisely its barriers, and foreign direct investment inflows. The starting point is identification of the barriers of the Slovak entrepreneurial environment according to Doing Business 2012 by comparing Slovakia with the Visegrad Four Countries. Subsequently relationship of barriers (paying taxes, trading across borders, enforcing contracts, protecting investors and FDI inflows on the sample of 25 leading countries for foreign investors according to FDI Confidence Index (Brazil, China, Germany, India, USA etc. is tested by Spearman's rank correlation test. The paper specifies barriers of EE, which removal would have a real impact on increasing FDI inflows into economy of Slovakia with relevant effects on its competitiveness.Research limitations were determined by the availability of statistical data, relatively large sample of surveyed economies in the world and comparison with other assessments (indices of FDI and competitiveness of countries. Given the limits on the scope of a magazine article, we will continue in our research in more detail in the future. Specific attention in this context will be devoted to the impact of investment incentives on FDI inflows. Methodology and selection of applied testing tool in synergy with selected statistical set of datas can bring new approach to the studied field and can stimulate extension of possibilities reached in this paper. The value of this paper lays in the specification of weak points of the Slovak entrepreneurial environment in the context of  its location

Foreign Direct Investment and export performance: The Peruvian experience in the framework of APEC

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Alexandra Carhuaricra Ubillus

2016-12-01

Full Text Available This research measures the impact of APEC economies FDI on Peru's total exports. Solving this question will help us understand the effect that this FDI has on the Peruvian economy through its export capacity, as well as determine whether or not this FDI stimulates an export-oriented industrialization. Using data from  Proinversion, Ministry of Foreign Trade and Tourism (MINCETUR, Central Reserve Bank, SUNAT, the World Bank and StatsAPEC we developed an ordinary least squares (OLS model  and observed that APEC economies FDI has a positive effect on exports. Specifically, an increase in 1 million soles of APEC FDI generates an increase of 44.37 million soles in exports. However, this positive effect has a decreasing marginal returrn as the investment stock rises.

How institutional voids influence Brazilian foreign direct investment in Angola

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Renato Virches

2017-04-01

Full Text Available How do institutional voids influence emerging market multinationals (EMNEs foreign direct investment (FDI in developing countries? In this article we respond to this question by examining Brazilian FDI in Angola as our analytical setting. We focus on the host country’s institutions and its institutional voids as essential factors that attract the FDI of EMNES to developing countries. The research indicates that Brazilian companies fill in much of these voids within the market intermediaries, often creating a point of competitive advantage, and also creating advantages in relation to FDI from other economies that invest in Angola. The scarce literature on FDI in Africa has been largely dedicated to the analysis of Chinese investment in the region. We aim to complement recent research on the influence of the host country’s institutions on the behavior of FDI in developing countries, explaining how some EMNEs are able to use the institutional voids of developing countries as market opportunities. Our findings should provide also implications for EMNEs managers from other emerging markets by providing a better understanding of how Brazilian multinationals expand their business in less developed countries, handle institutional voids and manage relationships with local and foreign institutions in the host country.

Glass Foreign Body Hand Radiograph

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Hamid Ehsani-Nia, DO

2018-04-01

Full Text Available History of present illness: A 27-year-old female sustained an injury to her left hand after she tripped and fell on a vase. She presented to the emergency department (ED complaining of pain over the laceration. Upon examination, patient presented with multiple small abrasions of the medial aspect of the left 5thdigit that are minimally tender. Additionally, she has one 0.5cm linear laceration of the medial aspect of the 5thmetacarpal with severe tenderness in the area and palpable underlying foreign body. Significant findings: Left hand plain radiography demonstrated a subcutaneous foreign body medial to the 5thmetacarpal that is radiopaque, trapezoidal in shape, and measures approximately 11mm x 3mm. Discussion: Laceration repairs are amongst the most common procedures in the emergency department; however, consideration for foreign body is often underdiagnosed. Imaging is performed in only about 11% of all traumatic wounds in the ED.1 Of those injuries relating to the hand that are subsequently imaged, about 15% are found to have a foreign body.2,3 Additionally, it is estimated that foreign bodies are present in 7% to 8.7% of all wounds caused by glass objects.4,5 Glass is among the most common foreign bodies in lacerations, and fortunately they are radiopaque and relatively well visualized radiographically. It has been demonstrated that 2mm glass foreign bodies have a 99% detection rate with radiography, and 1mm glass foreign bodies an 83% detection rate.6 Patient perception of foreign body has a positive predictive value of 31%, making it a poor source in influencing clinical decision-making to obtain wound radiographs.3 Clinicians should have a high suspicion for foreign body in lacerations, particularly those caused by glass, and utilize close physical examination and imaging for evaluation. Topics: Radiography, glass, foreign body, trauma

The Conditions of Formation and the Regulation Levers of the «New Economy» as a Modern Phenomenon

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Goncharova Svitlana Yu.

2017-03-01

Full Text Available The article is concerned with studying the stages of formation and development of phenomenon of the «new economy». Interpretation of the concept of «new economy» by foreign and by domestic scholars has been considered, the historical origin of the term of «new economy» has been defined, principles of its formation have been explored. The authors used reports by the World Bank on the level of development of the knowledge-based economy. Two combined index – the Knowledge Economy Index and the Knowledge Index have been provided, together with the accompanying rating of the world countries. The factors, determining the development of innovation process: economic, technological, political, legal, socio-psychological, cultural, organizational, and managerial, have been identified. Problems of establishing the national innovation system in Ukraine have been defined and ways of overcoming them have been suggested. The authors have developed and graphically presented the scheme of the conditions of formation and the regulation levers of the «new economy».

The Parallel Market for Foreign Exchange in an Oil Exporting Economy; The Case of Iran, 1978-1990

OpenAIRE

Adnan Mazarei

1995-01-01

This paper provides a model for the determination of the parallel market exchange rate premium in a country where oil export earnings accrue directly to the government, and foreign exchange is centrally allocated for the importation of specific goods. Next, it studies the parallel market for foreign exchange In the Islamic Republic of Iran during the period 1978-90. The paper then examines the various time series properties of parallel market exchange rate in Iran, and the evidence of the rol...

22 CFR 228.33 - Foreign government-owned organizations.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Foreign government-owned organizations. 228.33 Section 228.33 Foreign Relations AGENCY FOR INTERNATIONAL DEVELOPMENT RULES ON SOURCE, ORIGIN AND... commercial companies or other organizations (including nonprofit organizations other than public educational...

Collaborative Economy

DEFF Research Database (Denmark)

collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...... localities of tourism Greg Richards 11.Collaborative economy and destination marketing organizations: A systems approach Jonathan Day 12.Working within the Collaborative Tourist Economy: The complex crafting of work and meaning Jane Widtfeldt Meged and Mathilde Dissing Christensen PART - III Encounters...

The foreign policy of the Gabonese Republic: new priorities and challenges

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F Ch Ndakissa Onkassa

2016-12-01

Full Text Available The article considers the features of formation and realization of foreign policy and the basic characteristics of the international image of modern Gabon are considered. It is shown, that the foreign policy is the important direction in the state activity of Gabon and is intended to offer the General public all over the world complete and reliable information on the situation in the country on key international issues, activities and initiatives of Gabon in the field of political space and the processes and projects of socio-economic development, its cultural and scientific achievements. Foreign policy activity is aimed at creating favorable conditions for the realization of the historic choice of the Gabonese people to strengthen the rule of law, market economy and democratic society, to focus on the social dimension. Нerewith this article analyzes the main provisions of the foreign policy of the Gabonese Republic, considered in conjunction with the country's development objectives defined in the strategic plan “A prosperous Gabon”. Particular attention is paid to the role of the President in making foreign policy decisions and ideas about the prospects for the development of Gabon's foreign policy. Key value of principles of maintenance of the sovereignty and the international inclusiveness, influence of the factor of the French language and policy of multilateral diplomacy is underlined at definition of objectives and priorities of foreign policy of Gabon during an epoch of new international realities. It is noted, that foreign policy activity of Gabon is aimed at creation a wide range of the international partnership in interests of national development in in the context of globalization.

15 CFR 2008.12 - Foreign government information.

Science.gov (United States)

2010-01-01

... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Foreign government information. 2008.12 Section 2008.12 Commerce and Foreign Trade Regulations Relating to Foreign Trade Agreements OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE REGULATIONS TO IMPLEMENT E.O. 12065; OFFICE OF THE UNITED...

Born Global Firms: A Foreign Trade Related Study on Turkey

Directory of Open Access Journals (Sweden)

Aytaç GÖKMEN

2013-11-01

Full Text Available With the comprehensive advent in information and communication technologies and worldwide ease of transportation, the volume of international trade and business increased profoundly. Within this process, a Born Global Firm (BGF, right from its initiation, aims at creating competitive advantage by marketing a large volume of its products in various international markets by utilizing technological advances. Therefore, the rational behind the idea of BGF is to become an international firm in a short period of time and making international business affairs core of its business activities. Thus, the aim of this study is to review the concept of BGF theoretically and relate the issue to foreign trade affairs resting on significant sources related to the Turkish case mainly focusing on trade statistics as to review the potential development of BGFs in Turkey.

Contemporary challenges in applying of the modified model CAPM with country risk premium in emerging economies

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Petrović Dragana

2017-01-01

Full Text Available Modern approach in determining the expected return of foreign investors' investments is based on the evaluation investment in capital asset-CAPM (Capital Asset Pricing Model. In order to use the CAPM model for calculating the expected return of foreign investors in growing economies, it is developed the extended model CAPM with the risk premium in the country. This variant of the CAPM model has been used for estimating the cost of capital. This is the expected return on a portfolio of the company's stocks in less developed countries. Those countries have certain problems and factors of risk investment. This research examines the limitations and shortcomings in the application of the extended model with country risk premium, during the calculation of the cost of capital in the less developed economies. We present possible models to overcome those problems and also a need for upgrading of modified CAPM model with a risk premium of the country which, beside risk of the country (CR must have a discount for the 'advantage of the country'.

United States, Europe and Poland Different Stages of Antitrust Tying War in the New Economy

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Mariusz SWORA

2006-06-01

Full Text Available Microsoft’s case has led to heated debates, both in Europe and the United States of America, on the abuse of the dominant position and on the prohibition of tying. This discussion, both in Europe and the United States, is not finished. In this article the author presents legal implications of tying products in Europe and Poland and confronts them with the American approach to tying. In Poland, a country with a fast developing economy, with the growing level of foreign investments, discussion on monopolist practices under the conditions of a fast technological development1 has not really commenced yet. The problems of innovation and development of New Economy undertakings has gained new impetus following Poland’s accession to the European Union. It is a matter of time when the anti-trust law begins to show interest in them. There are some indications that this has already taken place. In the first part of this article the author briefly presents the discussion related to Microsoft III case in the United States insofar as it pertains to New Economy issues. The second and third parts address legal and political aspects of the Microsoft case in the European Union. In the fourth part legal aspects related to tying practices in Poland are presented. The article aims to show that instrumental and mechanical treatment of tying practices used by firms having the market power under conditions of technological progress is not proper. The problem of antitrust analysis of such practices is universal, as universal as these practices are. However, the problem is solved differently in the United States and in Europe and the reasons for such a different approach are rooted in the legal system and policy enforcement. Microsoft antitrust is global. After US and European cases, Korean competition authority has found Microsoft guilty of tying practices2. Regarding Microsoft problems with tying it is necessary to ask the question whether tying practices are

Health imperatives in foreign policy: the case of Malaysia.

Science.gov (United States)

Barraclough, Simon; Phua, Kai-Lit

2007-03-01

Malaysia's global, regional and bilateral international health relations are surveyed against the historical backdrop of the country's foreign policy. Malaysia has always participated in multilateral agencies, most notably the World Health Organization, as such agencies are part of the longstanding fabric of "good international citizenship". The threats of infectious diseases to human health and economic activity have caused an intensification and an organizational formalization of Malaysian health diplomacy, both regionally and bilaterally. Such diplomacy has also established a basis for developing a wider set of cooperative relationships that go beyond responding to the threat of pandemics. As Malaysia approaches "developed" status, its health sector is becoming increasingly integrated into the global economy through joint research and development ventures and transnational investment. At the same time, it will have the technological, financial and human resources to play an expanded altruistic role in global and regional health.

Endogenous Currency of Price Setting in a Dynamic Open Economy Model

OpenAIRE

Michael B. Devereux; Charles Engel

2001-01-01

Many papers in the recent literature in open economy macroeconomics make different assumptions about the currency in which firms set their export prices when nominal prices must be pre-set. But to date, all of these studies take the currency of price setting as exogenous. This paper sets up a simple two-country general equilibrium model in which exporting firms can choose the currency in which they set prices for sales to foreign markets. We make two alternative assumptions about the structur...

Money Demand and Inflation in Dollarized Economies; The Case of Russia

OpenAIRE

Franziska L Ohnsorge; Nienke Oomes

2005-01-01

Money demand in dollarized economies often appears to be highly unstable, making it difficult to forecast and control inflation. In this paper, we show that a stable money demand function for Russia can be found for "effective broad money," which includes an estimate of foreign cash holdings. Moreover, we find that an excess supply of effective broad money is inflationary, while other excess money measures are not, and that effective broad money growth has the strongest and most persistent ef...

Korean Affairs Report

National Research Council Canada - National Science Library

1985-01-01

..., Demonstrations, Policies, Foreign Ministry, American Cultural Centers, Embassy, Presidents, Occupation, Payments, Government's Economics, Fingerprinting Systems, Foreign Relations, Economy, Foreign...

Foreign trade and declining pollution in Sweden: a decomposition analysis of long-term structural and technological effects

International Nuclear Information System (INIS)

Kander, Astrid; Lindmark, Magnus

2006-01-01

This article examines whether there exists any causal relationship between foreign trade and declining pollution in developed countries. In other words, do developed countries outsource their problems to less developed countries rather than solve them? The case study is the Swedish economy and the two environmental indicators employed are energy consumption and CO 2 emissions. No causal relationships are found, since Sweden has long been a net exporter of embodied energy and CO 2 and continues to be so after 1970, when energy consumption stabilizes and CO 2 emissions decline. In addition, the ratios of net exported energy and CO 2 to total consumption remain stable, which means there were no effects on the energy intensity or CO 2 intensity either. These results suggest that internal forces, like efficiency improvements, changed consumption patterns and transformation of the energy system, have been crucial for relative environmental improvement in Sweden, while foreign trade has played no role

Foreign Ownership and Long-term Survival

DEFF Research Database (Denmark)

Kronborg, Dorte; Thomsen, Steen

2006-01-01

probability. On average exit risk for domestic companies is 2.3 times higher than for foreign companies. First movers like Siemens, Philips, Kodak, Ford, GM or Goodyear have been active in the country for almost a century. Relative foreign survival increases with company age. However, the foreign survival...

Status of Occupational Health and Safety and Related Challenges in Expanding Economy of Tanzania.

Science.gov (United States)

Mrema, Ezra J; Ngowi, Aiwerasia V; Mamuya, Simon H D

2015-01-01

Occupational health and safety is related with economic activities undertaken in the country. As the economic activities grow and expand, occupational injuries and diseases are more likely to increase among workers in different sectors of economy such as agriculture, mining, transport, and manufacture. This may result in high occupational health and safety services demand, which might be difficult to meet by developing countries that are prioritizing economic expansion without regard to their impact on occupational health and safety. To describe the status of occupational health and safety in Tanzania and outline the challenges in provision of occupational health services under the state of an expanding economy. Tanzania's economy is growing steadily, with growth being driven by communications, transport, financial intermediation, construction, mining, agriculture, and manufacturing. Along with this growth, hazards emanating from work in all sectors of the economy have increased and varied. The workers exposed to these hazards suffer from illness and injuries and yet they are not provided with adequate occupational health services. Services are scanty and limited to a few enterprises that can afford it. Existing laws and regulations are not comprehensive enough to cover the entire population. Implementation of legislation is weak and does not protect the workers. Most Tanzanians are not covered by the occupational health and safety law and do not access occupational health services. Thus an occupational health and safety services strategy, backed by legislations and provided with the necessary resources (competent experts, financial and technological resources), is a necessity in Tanzania. The existing legal provisions require major modifications to meet international requirements and standards. OHS regulations and legislations need refocusing, revision, and strengthening to cover all working population. Capacities should be improved through training and research

Importance of foreign investors for Russian power industry in prospect of energy revolution

Directory of Open Access Journals (Sweden)

Yaroslava N. Zubkova

2017-01-01

Full Text Available The article discusses current state of Russian electric power industry and the main problems of its development in the future of global energy revolution, which will lead to a significant increase in share of renewable energy in global production and consumption of energy and use of industrial energy storage, and will make it possible to change the structure of the industry and significantly reduce electricity prices. Traditional energy generation displacement by renewables associated with emergence of new, more cost effective technologies. Producers of “disruptive technologies” receive advantages over importers of innovations, which are especially noticeable during the formation of the new technological wave. Considering possibilities of effective development of Russian power industry, it is important to take into account the realities, including high level of depreciation of equipment, lack of capital and technologies. Currently, in the field of technology in the power industry innovative economies of Japan, USA, UK, Canada, as well as dynamically developing economy of China are leading. The high level of patent activity in these countries is caused by presence of infrastructure which promotes the commercialization of new technologies and free access to investment capital. In Russia technological exports in power sector occurs mainly due to foreign projects of Rosatom. Operation of foreign-made equipment which accounts for a significant proportion of fixed assets and problems with the development and introduction of competitive technologies are complicated by the lack of investment in domestic market. For maintenance of imported equipment Russian companies have to buy spare parts abroad and to enter into service contracts with foreign suppliers. High depreciation of fixed assets also determines the need for new investment inflows into the sector. Thus the existing dependence on foreign investors is supposed to increase. In the short term

Effect of Body Composition on Walking Economy

Directory of Open Access Journals (Sweden)

Maciejczyk Marcin

2016-12-01

Full Text Available Purpose. The aim of the study was to evaluate walking economy and physiological responses at two walking speeds in males with similar absolute body mass but different body composition. Methods. The study involved 22 young men with similar absolute body mass, BMI, aerobic performance, calf and thigh circumference. The participants differed in body composition: body fat (HBF group and lean body mass (HLBM group. In the graded test, maximal oxygen uptake (VO2max and maximal heart rate were measured. Walking economy was evaluated during two walks performed at two different speeds (4.8 and 6.0 km ‧ h-1. Results. The VO2max was similar in both groups, as were the physiological responses during slow walking. The absolute oxygen uptake or oxygen uptake relative to body mass did not significantly differentiate the studied groups. The only indicator significantly differentiating the two groups was oxygen uptake relative to LBM. Conclusions. Body composition does not significantly affect walking economy at low speed, while during brisk walking, the economy is better in the HLBM vs. HBF group, provided that walking economy is presented as oxygen uptake relative to LBM. For this reason, we recommend this manner of oxygen uptake normalization in the evaluation of walking economy.

[Selective internationalization: foreign workers and Japanese society].

Science.gov (United States)

Ito, R

1990-01-01

Japan's December 1989 revision of the law on immigration and recognition of refugees was intended to provide greater felxibility for employment of foreigners with specialized skills or professional qualifications while excluding migrant workers. This policy, referred to as selective internationalization by the author, represents an effort by the government to early 1980s and to changes in the Japanese economy which after decades of rapid growth is entering a new phase of diversification. The ideal of national homogeneity has prevented formulation of any coherent policy of integrating Japan's foreign born population, mostly descendents of laborers from Japan's former colonies. In 1988, Japan's 677,000 Korean residents constituted 72% of the foreign population registered in Japan. As of 1988, some 40,000 foreigners were registered as residents and permitted to work in any of several well-defined areas. The number, while small, is growing. Illegal migrants are defined essentially as foreigners exercising economic activities not authorized by their visas. The number of such workers is notoriously difficult to estimate, but the number of expulsions for labor violations increased by 4700 in 1989 to 22,600, suggesting that the problem is growing. The Ministry of Justice estimated the number of foreigners in irregular situations at 70,000 in 1988, and it has probably reached 120,000 at present. The number of foreign workers, authorized or not, is estimated at 150-160,000 or .3% of the active population. The 1989 revision of the immigration law does not constitute a foreign labor policy, but it does clearly signal the end of complete protectionism vis a vis the labor market which characterized Japan's period of rapid growth. Internationalization of the labor market reflects 2 concerns, provision of highly qualified employees to enable large enterprises to adapt more readily to changing international conditions, and continued control over the foreign labor supply of small

SOCIAL ECONOMY EFFICIENCY

Directory of Open Access Journals (Sweden)

Florina Oana Virlanuta

2015-05-01

Full Text Available The social economy combines profitability with social inclusion. Social innovation is the first step in the creation of a social enterprise. Social economy development is a process underway, innovative in terms of relating the individual to the production processes, the concept of citizenship, production areas and modalities. The concern for sustainable development, analysis of economic and financial crisis, the issue of the relationship between the individual and the production process open up many opportunities for development that can influence public policies on employment and social cohesion.

Spatial dynamics in the Experience Economy

DEFF Research Database (Denmark)

The volume consists of 14 chapters, each presenting original research contributions. The book explores the dynamics of place, location and territories related to the experience economy. Three overall perspectives permeate the contributions of the book. The first is related to innovation and innov...... and innovation processes in the experience economy. The second is related to the governance of experiential innnovation and development. The third is the role of place in creating experiential value and vice versa....

Key Trends in the Development of Foreign Trade of France in the Global Competitive Environment

Directory of Open Access Journals (Sweden)

Zvirgzde Kateryna I.

2016-01-01

Full Text Available The article is aimed at analyzing the nature and contemporary trends of foreign trade activity of France. In the process of evolutionary development of the economy of France in content, structure and directions of its foreign trade strategies occurred permanent modifications and transformations, resulting from the need to maintain optimal proportions between material, financial and human resources, production and consumption, commodity supply and purchasing power, as well as receipts and payments in the settlements with other countries. The article is concerned with an integrated analysis of progressive structural reforms in the economic system of France in the last decade, which led to fundamental changes in its foreign trade operations both in terms of monetary magnitude of export-import transactions and their product-species, geographical, institutional and regulatory structures. The nature, key indicators, trends and issues in the foreign trade strategy of France in the face of global volatility as well as ways for its improvement have been researched.

Economic reform in Vietnam - the role of foreign direct investment and trade policy

International Nuclear Information System (INIS)

Tran, D.L.

1998-11-01

Vietnam was one of the five poorest countries in the world in the 1980's. Since then, Vietnam has adopted a market economic policy, and she has made substantial economic progress. In the last 10 years Meanwhile Vietnam's per capita income has increased by 3 times, the volume of export doubled very two years, and the inflation rate was reduced to 4.5 % in 1997 from 775 % in 1986. The GDP also has increased, the exchange rate with the US$ was stabilized and foreign direct investment (FDI) and trade has increased. There was about US$35 billion were invested by the foreign investors between 1987 to the middle of June 1998. However, the current crisis in the economies of Southeast Asian countries has put pressure on Vietnam to rethink seriously her future reform program with respect to stabilization and sustainable current economic policies. Since FDI is an imperative for the development of a country like Vietnam, it is necessary to use this capital very careful for her economy. Thus, the main objective of this dissertation is to study the role of FDI in the development of Vietnam. To examine this objective, various investigations were made, especially focusing on development dimensions such as reforming state enterprises, foreign trade policy, foreign investment and so on. Therefore, in the future, FDI and privatization policies should be strengthened to maintain and create an international market. Moreover, there are some major reforms required to transform the state sector into a private sector with appropriate policy measures, such as improving management of financial companies, developing the agricultural sector and minimizing bureaucracy and red tapism of the government. This dissertation provides a set of recommendations how to strengthen Vietnams economic and market situation in the 21st century. (author)

The Neoindustrial Principles for the Development of Integration Relations in the Agrarian Sector of Economy

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Hutorov Andrii O.

2017-08-01

Full Text Available The article is aimed at elaborating the neoindustrial principles for the development of integration relations in the agrarian sector of economy. It has been shown that the engine of sectoral development and economic growth in the context of neoliberal globalization are the integration relations formed by the product principle and intrinsically linked to the neoindustrial transformation of the agro-industrial potential. The article explores the lack of options when choosing a national model for the sectoral development of economy: vertical integration of advanced playback, neoindustrialization, and economic security. It has been proven that the mutual relationship between the socio-economic formations and the strategies for integration interaction is organic. The replacement of the functional target setting of economic system at all levels of the hierarchy from the maximum profit to the maximum of the cumulative newly created (added value has been substantiated. A conceptual model for the development of the agrarian sector through integration and neoindustrialization has been accomplished, as well as the principles of strategic management of the system of integration relations have been elaborated. The main forms of implementation of the integration relations with the centralized and decentralized models of neoindustrial development of the agrarian sector have been defined.

The Argentine foreign policy towards the southeast of Asia between the presidential periods of Carlos Nemen and Nestor Kirchner from a constructive look

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María Florencia Rubiolo

2010-05-01

Full Text Available The importance gained by Southeast Asian countries as emerging economies since the nineties has converted their markets in significant targets for Argentinean exports. Our aim in this paper is to identify the characteristics of the relation between Argentina and its main trade partners in Southeast Asia since 1989. In order to achieve this goal we will analyze the commercial and also the political dimensions. Our interest is to define if the trade relation was accompanied by an attempt of political rapprochement, and if the trade increase can be understood as a part of an Argentinean foreign policy towards diversification.

Sanctions, Smuggling, and the Cigarette: The granting of Iran office of foreign asset control′s licenses to big tobacco

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Esfandyar Batmanghelidj

2014-01-01

Full Text Available Background: Presuming that tobacco taxes, levied both as import duties and ad valorem, would financially benefit the Iranian Government, such the introduction of a highly desired US product to the market would be antithetical to the sanctions regime currently in place. Methods: This paper as a systematic review and documents through Pubmed and webs seeks to understand the politician economy implications of nicotine addiction in Iran, focusing on the US office of foreign asset control′s (OFAC awarding of Iran operations licenses to American tobacco companies. Results: By comparing Iran′s tobacco industry and the attendant public health crisis that has arisen from high rates of nicotine addiction, to conditions in Turkey, it can be demonstrated that Iran is uniquely unable to extract revenues from the sale of tobacco products. The primary point of comparison between Iran and Turkey is smoking-attributable annual productivity loses of each country as estimated through the use of smoking-attributable mortality, morbidity and economic costs software (SAMMEC and the available related literature. Based on the calculations derived from the SAMMEC model, Iran is burdened with an incredible cost to the economy borne by a high prevalence of smokers. Conclusions: It is concluded that an awareness of this condition enables OFAC to award licenses to big tobacco without fear of undermining current foreign policy initiatives.

Continuity and Change in India’s Foreign Policy

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Juan López Nadal

1998-09-01

Full Text Available Adaptation of foreign policy to the post-cold war era and the globalisation of the economy has not been easy for India, a country which occupies a key position in Asia and arguably the world due to its size, strategic position and economic potential. In Indiacontinuity and change coexist, manifesting dramatic contradictions, with the former gradually superseding the latter. The diplomacy of New Delhi has come under harsh criticism for its resistance to adapt to a changed and changing world - something rooted in its Britishcolonial heritage and its lack of enthusiasm for questioning traditional values and attitudes. An analysis of the fundamental basis underlining these traditional conceptions is necessary, as is an historical perspective on the evolution of India’s foreign policy which embraces vastly differing factors of influence such as the external environment and internal economic and political conditions. This study begins its historical perspective on the foreign policy of independent India in 1947, dividing the period up to the present decade into three phases: the period of Nehru (1947-65, including L.B.Shastri; that of Indira Ghandi and her successors (1965-1990; and the period following the end of the cold war, under an unstable and uncertain leadership.

31 CFR 500.301 - Foreign country.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Foreign country. 500.301 Section 500.301 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 500.301 Foreign country. The term foreign country also includes, but not by way of limitation: (a) The...

31 CFR 515.301 - Foreign country.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Foreign country. 515.301 Section 515.301 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF... § 515.301 Foreign country. The term foreign country also includes, but not by way of limitation: (a) The...

Foreign uranium supply. Final report

International Nuclear Information System (INIS)

McLeod, N.B.; Steyn, J.J.

1978-04-01

This report presents an assessment of the extent to which foreign uranium may be available to United States utilities in the short term (through 1980), the intermediate term (1981--1985), and the long term (1986--95). All free world foreign uranium producers and prospects are included, with particular emphasis on Australia, Canada, southern Africa, France, and French-speaking Africa. The assessment includes reserves, resources, exploration and prospects; firm and potential production capacity and prospects; national policies and relevant political and economic conditions; foreign uranium demand; etc. Conclusions are: Foreign supply capability is greater than foreign demand in the near term. The current availability of uncommitted future Australian production presents an unusual opportunity for establishing commercial relations with very substantial producers. Foreign uranium contracts represent an increase in diversity of supply and access to resources but have less assurance of supply than do domestic contracts. However, uncertainties can frequently be accommodated within an overall procurement program, thereby retaining the diversity and price advantages of foreign procurement. The practice of market pricing of contracts reduces the incentives for foreign contracting

China – A New Center of Power in the Global Economy

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Sarmiza Pencea

2012-04-01

Full Text Available In its first part, this paper looks at China’s rapid economic transformation of the last more than three decades, at its accelerated, never-met-in-history growth, and at the factors underneath: masive investments, both foreign and local, technology and managerial know-how transfers, related productivity rises, huge exports and, hopefully, increasingly larger future domestic comsumption. In its second part, the article highlights China’s complex impact on world demand, supply and prices, resulting from its extensive development and from its new positioning in the world economy. Finally, the paper also looks at the negative externalities of China’s unsustainable development, in terms of land, water and air pollution, speedier depletion of the natural resources of the planet and climate change, stressing upon the ideea that while the whole mankind is affected, the first to suffer are the Chinese themselves.

'They are stealing my island' : Residents' opinions on foreign investment in the residential tourism industry in Tamarin, Mauritius

NARCIS (Netherlands)

Wortman, Tessa; Donaldson, Ronnie; van Westen, Guus|info:eu-repo/dai/nl/068876572

2016-01-01

The small nation of Mauritius in the Indian Ocean, once a poor sugar plantation island, has successfully diversified and expanded its economy since independence, by attracting foreign investment in manufacturing and modern service industries. Tourism is a major part of the 'Mauritian Miracle'; in

Knowledge for a sustainable economy. Knowledge questions around the Dutch Memorandum on Environment and Economy ('Nota Milieu en Economie'); Kennis voor een duurzame economie. Kennisvragen rond de Nota Milieu en Economie

Energy Technology Data Exchange (ETDEWEB)

Dieleman, J.P.C.; Hafkamp, W.A. [Erasmus Studiecentrum voor Milieukunde, Erasmus Universiteit Rotterdam, Rotterdam (Netherlands)

1999-05-19

June 18, 1997, the Dutch government presented the Memorandum Environment and Economy with the aim to contribute to integration of environment and economy and to stimulation the realization of a sustainable economy. Next to a vast overview of actions, ideas, perspectives, staring points, challenges and dilemmas to take into account when forming a sustainable economy, it is indicated in that Memorandum that there is a need for research and knowledge to compile relevant data and insight to support decision making processes. The aim of this report is to develop a framework in which knowledge questions can be generated. The questions that fall outside the framework of the Memorandum concern needs, values and images and are formulated in four groups: (1) what is the role of materialism and stress in processes of conventional economic growth?; (2) What is the importance of reduction of consumption ('consuminderen') and slowing down ('onthaasting' or dehasting) to realize a process of sustainable economic development; (3) which images form the basis of the present process of economic development, where do they come from and how do they change over time; and (4) which images of progression give direction to a sustainable economic development and how do they exist? The questions that follow the Memorandum concern decoupling (of environment and economy), sustainable consumption, knowledge economy, institutions and a process of change. Central in the framework of knowledge questions are questions, related to perspectives and actions, as formulated in the Memorandum for different sectors in the Dutch society: industry and services; agriculture and rural areas; and traffic, transport and infrastructure.

Regulating the sharing economy

OpenAIRE

Erickson, Kristofer; Sorensen, Inge

2016-01-01

In this introductory essay, we explore definitions of the ‘sharing economy’, a concept indicating both social (relational, communitarian) and economic (allocative, profit-seeking) aspects which appear to be in tension. We suggest combining the social and economic logics of the sharing economy to focus on the central features of network enabled, aggregated membership in a pool of offers and demands (for goods, services, creative expressions). This definition of the sharing economy distinguishe...

Tourism's intimate economies

Directory of Open Access Journals (Sweden)

Bill Maurer

2008-12-01

Full Text Available [First paragraph] What’s Love Got To Do with It? Transnational Desires and Sex Tourism in the Dominican Republic. Denise Brennan. Durham NC: Duke University Press, 2004. ix + 280 pp. (Paper US$ 21.95 Behind the Smile: The Working Lives of Caribbean Tourism. George Gmelch. Bloomington: Indiana University Press, 2003. x + 212 pp. (Paper US$ 19.95 New research on Caribbean tourism solidly locates it within the regional shift from “incentive-induced exports” like bananas to “service-based exports” like data processing, offshore finance, and novel forms of mass tourism (Mullings 2004:294; Duval 2004. Earlier studies may have made mention of the similarities between plantation economies and tourism development, but new models like the all-inclusive resort demonstrate a near identity of form and structure with plantation systems: foreign dominance over ownership and profit leaves little multiplier effect for the Caribbean islands playing host to enclaved resorts. Agricultural exports have been in free fall since the end of preferential trade protocols, and export manufacturing after the North American Free Trade Agreement is in steep decline. If new service economies seemed to offer a solution to economic and social disorder, the reaction to the events of September 11, 2001 demonstrated the fragility of service-based exports and, in particular, of new kinds of tourism. It took four years for international tourism to rebound to pre-9/11 levels;1 with the perceived threat of SARS and avian flu, as well as the Iraq war and the weak U.S. dollar, official projections of the industry’s near future are “cautiously optimistic.”2

Latin America in the World Economy and Trade at the Beginning of the XXI st Century

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A R Massarova

2013-12-01

Full Text Available The article deals with the role of Latin America in the world economy during the pre- and post-crisis period. It analyses the dynamics of the indicators that define social and economic capacity of the region and the impact of the world financial crisis in different types of the region's countries. The article examines in details structural and regional shifts in the foreign trade of Latin America. The analysis revealed the major problems of the region's foreign trade (branch and regional structure and allowed to set out the ways of their decisions through the diversification of Latin American export and the intensification of intra-regional trade.

Foreign direct investment in the health care sector and most-favoured locations in developing countries.

Science.gov (United States)

Outreville, J François

2007-12-01

Given the growing importance of the health care sector and the significant development of trade in health services, foreign direct investment (FDI) in this sector has gathered momentum with the General Agreement on Trade in Services. Despite extensive case based research and publications in recent years on health care markets and the rise of private sectors, it is surprisingly difficult to find evidence on the relative importance of the largest multinational corporations (MNCs) operating in the health care sector. The objective of the paper is to identify some of the determinants of foreign investment of the largest MNCs operating in this industry. The list of the largest MNCs has been compiled using company websites and data is available for 41 developing economies for which at least two MNCs have an office (branch and/or affiliate). The results of this study have some important implications. They indicate that location-specific advantages of host countries, including good governance, do provide an explication of the internationalization of firms in some developing countries rather than others.

ECONOMIC RELATIONS BETWEEN REPUBLIC OF MOLDOVA AND TURKEY

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Bestenigar KARA

2015-07-01

Full Text Available The topic of article is bilateral economical and foreign trade relations between Turkey, which has started to apply outward-oriented economic policies since globalization and Moldova, which has done market transition after breaking up with the Soviet Union. Within this frame, the subject of article has been searched in depth as follows: general overview of Turkey’s economic relations, overall picture of Moldovan-Turkish relations, short exposition of Moldovan economy and bilateral economic and foreign trade relations of Moldova and Turkey. The topic of article is a current issue. Because Moldova, which is closed to Turkey in terms of geography, culture and history always has been an attractive country politico-economically for Turkey since its independence. Bilateral economic relations starting with shuttle trade have formalized and further developed and Turkey became as one of top ten biggest economic and trade partner of Moldova. On this basis, the aim of study is to elucidate foreign trade of Turkey with Moldova and to compare performances of Turkey by years and by other countries, which have remarkable domination in Moldovan market. Within this scope, bilateral trade volume of Moldova and Turkey has increased year by year considering the past decade, which makes Turkey as the 7th largest import and 8th export partner of Moldova. Turkey aims to be one of the first three biggest economic partner of Moldova after entry into force of Free Trade Agreement (FTA, which was signed by both countries in 2014 to increase foreign trade volume up to 1 billion US dollars.

Growing inter-Asian connections: Links, rivalries, and challenges in South Korean–Central Asian relations

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Matteo Fumagalli

2016-01-01

Full Text Available The geopolitical context, which emerged from the collapse of the Soviet Union and the end of the Cold War, combined with Korea's growing economic prowess, enabled greater dynamism and diversification in Seoul's foreign policy-making. Growing pressure from energy-intensive economies coupled with new developments and investment in logistics and infrastructure has brought different parts of the Eurasian landmass closer together in recent years. Inter-Asian connections are especially growing. This article uses the case of deepening relations between Korea and the post-Soviet Central Asian republics as a vantage point to reflect on one such example of unfolding Asian inter-connectedness. In addition it sees Seoul's engagement in the region as a fitting example of Korea's broader ambitions to assert itself as a global economic player. The article shows that Korea's policy toward Central Asia has been primarily driven by energy needs and is defined by pragmatism. It finds that the economic dimension of the relationship has greatly overshadowed other aspects such as politics and security. In its pursuit of closer ties with the region Seoul has sought to turn structural weaknesses into added value and has attempted to develop a distinctive, non-threatening profile built around the lack of a political baggage and geopolitical ambitions, and the desire to share its experience of formerly impoverished turned leading economy. In turn, Central Asia's selective integration in the world economy has continued, also thanks to its ties with Korea. The Central Asian republics welcomed the opportunity to diversify their foreign relations, the sources of foreign investment and export routes. At the same time the opaque business environment, a leadership succession, which cannot be postponed for much longer, and Seoul's “no-strings attached” approach expose Korea to some risks as regime stability might not last forever.

The Impact of Foreign Direct Investments on Economic Growth in Romania

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Adrian Petre

2015-12-01

Full Text Available One of the current priority objectives for Romania is the integration into euro zone. To achieve this objective, Romania must record progress on economic growth. Various empirical studies have analyzed the influence of foreign direct investment (FDI on economic growth to see whether investment flows positively influence the economic development. The results revealed that positive connection depends on certain features of the economy at a time. The purpose of this research is to highlight the impact of the FDIs on the Romanian economic development because the debates on capital flows, both in the political and academic environment, associate these flows with a number of benefits for beneficiary states. In order to fulfill the objective of this research is analyzed, mainly, the relationship between foreign direct investment (FDI and gross domestic product (GDP.

Emergence of new Russian and foreign investors in the Russian oil and gas complex

International Nuclear Information System (INIS)

Arbatov, A.A.

1996-01-01

A critical analysis is presented of the factors influencing foreign investment in Russian oil and gas exploration and production. Greater stability in the Russian economy would help and unfortunately some elements of the Russian bureaucracy hinder quick decision making. Western investors could improve their position by concentrating on developments which are unlikely to be developed by Russian companies in the next decade. (author)

40 CFR 600.206-12 - Calculation and use of FTP-based and HFET-based fuel economy and carbon-related exhaust emission...

Science.gov (United States)

2010-07-01

... POLICY FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy Regulations for... vehicle under § 600.113(a) and (b) and as approved in § 600.008-08(c), are used to determine FTP-based... value exists for an electric vehicle configuration, that value, rounded to the nearest tenth of a mile...

Hidden foreign trade and corruption on customers

Directory of Open Access Journals (Sweden)

Богдан Миколайович Головкін

2017-12-01

Full Text Available According to the Association of Chartered Certified Accountants (ACCA, the volume of the "shadow" economy in Ukraine is 1.1 trillion hryvnias or 45.1 % of the gross domestic product. Estimates of the Federation of Employers of Ukraine show that only 50 % of payments to the state budget comes from the clearance of goods, while the rest comprise a corruption component of 40 billion UAH for a year. Much of the large companies move non-declared goods across the state border and do not pay taxes. However, at the official level in Ukraine, it is still not accepted to talk about the servicing of the shadow foreign trade by the customs administration and the collection of corrupt rents from illegal trade in the state. Understanding the essence of the problem gives grounds to assert that the corruption risks in the work of customs are laid down in imperfect customs legislation, high tariff rates of duties and taxes, discrete powers of customs inspectors, the regime of customs procedures in the customs control zone, low level of their automation and physical contact of declarants from customs officers. In the customs case, the main type of corruption is bribery and abuse of influence related to the assistance of illegal and criminal activity in the foreign economic sphere. Subjects of foreign economic activity reduce costs and receive revenues through customs fraud or smuggling. Without corruption, this activity is impossible. On the illegal movement of goods and vehicles, smuggling and counterfeiting through the customs border, a criminal corruption business was created for all bodies and services that carry out various types of state control and law enforcement activities in the customs sphere. The most profitable are corruption schemes related to the illegal import / export of three groups of highly liquid products: tobacco products, counterfeit IT products, petroleum products, cars with foreign registration. For an independent study, illegal

Emerging Economies Research Dialogue | IDRC - International ...

International Development Research Centre (IDRC) Digital Library (Canada)

This grant will allow the Indian Council for Research on International Economic Relations to bridge the gap by organizing two research dialogues in the form of international conferences for emerging economy professionals, academics and policymakers on issues of contemporary relevance to the global economy and polity.

Compliance in the banking sector: checking the observance of legislation on controlled foreign companies

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Elena A. Shapkina

2017-03-01

Full Text Available Objective to identify the features of law implementation in the banking sector when fulfilling the compliance procedures as well as specificity of the identification of clients by credit institutions in the implementation of the law provisions on controlled foreign companies. Methods dialectic approach to cognition of legal phenomena allowing to analyze them in their development and functioning in the context of objective and subjective factors. Comparative method formallogical method method of deduction. Results in the article the necessity is proved to introduce the compliance procedures as a mechanism for internal control systems in the banking sector and for impeding the development of the shadow economy corruption and extremist manifestations. It is determined that the application of the compliance system allows to solve the problem of the effectiveness of anticorruption policy. The approaches are analyzed to the problem of offshorization of the Russian economy and measures for its resolution including by creating mechanisms of taxation of controlled foreign companies. The aims and approaches are viewed to defining the controlled foreign companies and the impact of Russian reforms on the legal systems of foreign countries. In particular we consider changes in Swiss law aimed at tightening controls over financial transactions in the banking sector with the aim of combating money laundering as well as compliance with Russian antioffshore legislation. It is stated that the change in the legal field in Russia will contribute to the protection of fiscal interests of the state and modernization of thebanking systems of internal control. Scientific novelty basing on the use of complex scientific methods for the first time the study is carried out of the compliance procedure in the banking sector from the point of view of checking the observance of the legislation on controlled foreign companies. Practical significance the main provisions and

The impact of exchange rate volatility on capital flows in BRICS economies

OpenAIRE

Bonga-Bonga, Lumengo; Gnagne, Pascal Xavier

2017-01-01

This study intends to analyse the impact of exchange rate risk on equity returns and bond yields as well as the volatility spillover between the foreign exchange, equity and bond markets in the BRICS economies. To reach this objective, a multivariate GARCH-M with BEKK specifications is applied on weekly data obtained from Thomson Reuters DataStream. The findings of the paper show that exchange rate volatility has a positive impact on ten-year bond yields in all BRICS countries except in South...

Collaborative Economy

DEFF Research Database (Denmark)

that are emerging from them, and how governments are responding to these new challenges. In doing so, the book provides both theoretical and practical insights into the future of tourism in a world that is, paradoxically, becoming both increasingly collaborative and individualized. Table of Contents Preface 1.The...... collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...

Collaborative Economy

DEFF Research Database (Denmark)

collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... and similar phenomena are among these collective innovations in tourism that are shaking the very bedrock of an industrial system that has been traditionally sustained along commercial value chains. To date there has been very little investigation of these trends, which have been inspired by, amongst other...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...

Foreign Direct Investments – Challenges and Perspectives for Romania

Directory of Open Access Journals (Sweden)

Cristina Batusaru

2013-05-01

Full Text Available In the context of globalization of markets, foreign direct investments have an important role in terms of supporting endogenous growth factors, on the one hand and the circuit of financial flows between countries, on the other hand. If we refer to the effects of the economic crisis on economies, ISD may represent capital infusion instruments for affected economic sectors, contributing to faster recovery of economic gaps that occurred. By studying this topic of FDI we consider the great impact and benefits that they can bring, being essential element in the development of a country, as in the case of Romania. This paper presents the main trends of international financial flows for the period 2008-2012, whereas in the context of economic globalization requires an overall analysis of country-specific FDI performance as it helps in improving and optimizing strategies adopted by foreign transnational companies. In order to underline their importance and necessity, we study the situation of Romania in this field by analyzing the performance of countries in attracting direct foreign investments. Following the study conducted it has been made a number of conclusions and recommendations on how to improve this process in Romania. Academics, researchers, administrators of the university all have a great responsibility on how they support to attract FDI in Romania, even if we refer to work force that they form, the ideas they can provide in supporting and developing this process or by sharing the “know-how” related to the many fields that FDI can have an impact on. This paper aims to bring on the loop the main strengths and weaknesses that Romania has in the field of FDS and invites the readers interested on the topic to involve by providing feedback in order to improve this process in Romania.

The Volatile Effect of Conflict Risk on Foreign Investment

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Umit Hacioglu

2013-04-01

Full Text Available The opportunities of investment brought along by the global economic integrity might turn into a threat in an instant and undermine the underlying structures of national economies. It is necessary to analyze the conflict risk properly in terms of both portfolio investment and finance strategies. This is an important step to be included in the process of arriving to a rational decision. In that way, the existing investment risks could be priced more efficiently. It is proved on Collier and Starr models that there is a correlation between the conflict risk and unemployment, economic recession, inflation and fiscal discipline. In brief, the breakdown in the economic parameters increases the conflict risk and a progress occurring in the opposite way, decreases that risk. In this study, it is discussed the effects of the conflict risk for foreign investment availabilities. Keywords: Foreign direct investment; volatile effect; conflict risk; investment climate

Information Support of Foreign Policy

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Olga A. Melnikova

2015-01-01

Full Text Available Informatization and modern information technologies cover the most various areas of social, spiritual and material human life and have become the dominating globalization factor with major impact on world events. Modern international relations present new challenges and threats ofcross-border nature, which fall within the area of information security. This brings issues of informational influence on international policy to the fore. In this context the question of improvement and modernization of policy instruments for more effective use of modern means of implementation of foreign policy priorities, including information support of international activities, achieves fundamental importance. Given the complexity of modern international relations and tasks facing foreign affairs departments, diplomatic success in many cases depends onthe efficiency of information support. The article analyses current objectives and methods of information support of foreign policy in the context of modern Russian legislation. The author examines the approach of the Information and Press Department of the Russian Ministryof Foreign Affairs,a subdivision responsible for information support and international cooperation in the media sphere. The article specifies the key role of new information technologies for informing the audience expeditiously and to the full extent in regard to Russian approaches to the solution of international problems, foreign policy initiatives and actions of the Russian Federation, and for counteracting attempts to discredit Russian foreign policy.

Extraction of Tourist Destinations and Comparative Analysis of Preferences Between Foreign Tourists and Domestic Tourists on the Basis of Geotagged Social Media Data

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Takashi Nicholas Maeda

2018-03-01

Full Text Available Inbound tourism plays an important role in local economies. To stimulate local economies, it is necessary to attract foreign tourists to various areas of a country. This research aims to develop a method of extracting the locations of tourist destinations in a country and to understand what characteristics foreign tourists expect of areas near tourist attractions compared with what domestic tourists expect. In this paper, a tourist destination is defined as a small area that has places of interests for tourists such as historic sites, theme parks, hotels, and restaurants. The methods proposed in this paper are applied to data acquired from Twitter and Foursquare in Japan. The proposed method successfully extracts the locations of tourist destinations and characterizes those locations based on the points of interest in the neighborhood. The results indicate that foreign tourists who come to Japan expect nightlife spots (bars, nightclubs, etc. to be located in the neighborhood of tourist destinations, in contrast to the expectations of domestic tourists. The proposed methods are applicable to not only Japan, but to any country.

The model of sustainable socio-economic development of the national economy

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O. A. Kalchenko

2016-01-01

Full Text Available According to the new "National security strategy of the Russian Federation, sustainable socio-economic development is the basis of national economic security. UN conceptual model of sustainable development is considered. The “Club of Rome” founder’s Aurelio Peccei point of view that world could be presented by interrelated but sufficiently stable elements: Nature, Man, Society, science-based Technique is mentioned (early 1980s. Today, sustainable socio-economic development of the national economy is determined by: Nature, Man, Society, Technology, Economy and Infrastructure. To support this opinion, statements of leading scientists, politicians, business representatives are given: A. Aganbegian, M. Friedman, V. Sidorov, V. Inozemtsev, G. Gref. The author's model of sustainable socio-economic development of the national economy is presented. The position of Russia according to the “2016 Global R&D Funding Forecast”, compiled by well-known scientific periodical “R&DMagazine” is presented. Classification of indicators groups, taken from the Russian and foreign statistical data books (Russian Statistical Yearbook, IRI, R&D Magazine, International Monetary Fund, World Bank, CIA Factbook, OECD, according to the elements of an integrated system of sustainable socio-economic development of the national economy is given. Implementation aggregating partial indices into an integrated index for each group and their population as a whole is proposed. For each private indicator is proposed to develop three levels of threshold values (acceptable, marginal and critical for sustainable socio-economic development of the national economy and security. Since innovation is a key mechanism for the concept of sustainable socio-economic development of the national economy in a new tenor of technology, the need for innovative development of all elements of the proposed integrated system is required.

77 FR 3373 - Establishing Visa and Foreign Visitor Processing Goals and the Task Force On Travel and...

Science.gov (United States)

2012-01-24

... improve visa and foreign visitor processing and travel promotion in order to create jobs and spur economic... requirements imposed after 2001. Given the importance of the travel and tourism industry to the U.S. economy... Promotion Act was signed into law. While our processes for moving people and goods across our borders are...

Multinationals and Foreign Direct Investment: The Portuguese Experience (1900-2010

Directory of Open Access Journals (Sweden)

Alvaro Ferreira da Silva

2016-07-01

Full Text Available A long-term perspective on the evolution of inward and outward foreign investment in Portugal over the twentieth century has been absent from the existing literature. In a few cases the analysis has a larger chronological depth, namely in the studies by Salgado de Matos (1973. However, even in this case the author zooms in a specific period of time: the 1960s and early 1970s. Other studies provide a long-term synthesis on foreign direct investment (see for all, Leite et al, 2001; Moreira and Dias, 2008, but they rely on a descriptive and very superficial approach. The chapters dedicated by the recent and in-depth História Económica de Portugal (Lains and Silva, 2005, vol. 3 to the internationalization of the Portuguese economy or to capital as a factor of production never address FDI, which constitutes one important weakness of this work.

The Intangible Assets of Korean Manufacturing Firms for Foreign Direct Investment

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Sunghoon Hong

2004-12-01

Full Text Available This paper attempts to apply the intangible assets approach to the emerging multinational enterprises of Korea. More specifically, it tries to empirically analyze whether Korean firms investing in foreign markets possess more advanced intangible assets than those investing only in the domestic market, and whether Korean firms exploit different types of tangible assets in different host regions. The following conclusions have been drawn by analyzing the data on Korea manufacturing firms listed on the Stock Exchange. First, firms investing in foreign markets possess more advanced intangible assets than domestic market-oriented ones. More specifically, firms investing in the Western developed region are shown to be superior in the economies of scale, R&D, advertising intensity, capital intensity, and interfirm linkages, whereas those investing in the Asian developing region are superior only in the economies of scale and organizational skills. This implies that Korean firms operating in developed countries seem to exploit a wider range of intangible assets to address intense competition and sophisticated demand in the host markets. And, when firms investing in the developed and developing regions are compared directly, the former group are found to exploit technological capability and interfirm linkages more intensively. Second, availability of internal funds and human capital intensity do not show statistical significances, implying that these abilities are not different between firms investing in foreign markets and the domestic market. Third, Korean multinational enterprises are more similar to Japanese than Western ones in terms that they actively exploit organizational skills and interfirm network. Nonetheless, these conclusions have been derived by analyzing the data on parent firms, based on the assumption that Korean overseas subsidiaries commonly share the intangible assets of their parents. This weakness is mainly due to the limited

Foreign-Related Commercial Dispute Resolution in China: a focus on litigation and arbitration

OpenAIRE

Yuan, Bo

2017-01-01

markdownabstractThe significant increase of foreign investment and trade is an important impetus for China’s economic development after the 1978 reform. The prosperity of foreign investment and trade brings both opportunities and challenges: accompanied by the increasing investment and trade opportunities is the rise in the number of commercial disputes between foreign businessmen and their Chinese partners. Facing the challenges, China adopts a dual legal system in which the resolution of do...

SOME ASPECTS OF FOREIGN LANGUAGE COMPETENCE DEVELOPMENT IN THE SYSTEM OF CONTINUED PROFESSIONAL EDUCATION

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A. G. Gorbunov

2017-01-01

structure of the concept of discursive foreign language competence are given. The educational technique that makes it possible to realize a wide range of discursive practices invariants has been developed. The algorithm for advanced and high level of discursive competence development has been described. The criteria of students’ preparedness and ability to communicate in a foreign language have been described as well as the marks related to the levels of developed discursive foreign language competence. Practical significance. The author's proposed technology enables to realize a wide range of invariants of the discursive practices and considerably increases the possibilities of effective foreign language training for specialists of various branches of economy and production, and pupils of different levels of training. The presented research results can be used when developing educational and methodical complexes in the systems of professional development and continued professional education. 

On the Relation between Tax Rates and Evasion in a Multi-period Economy

OpenAIRE

Jordi Caball?Author-Email:; Judith Panad?

2001-01-01

We extend the basic tax evasion model to a multi-period economy exhibiting sustained growth. When individuals conceal part of their true income from the tax authority, they face the risk of being audited and hence of paying the corresponding fine. Both taxes and fines determine individual saving and the rate of capital accumulation. In this context we show that the sign of the relation between the level of the tax rate and the amount of evaded income is the same as that obtained in static set...

On the relation between tax rates and evasion in a multi-period economy

OpenAIRE

Caballé, Jordi

2006-01-01

We extend the basic tax evasion model to a multi-period economy exhibiting sustained growth. When individuals conceal part of their true income from the tax authority, they face the risk of being audited and hence of paying the corresponding fine. Both taxes and fines determine individual saving and the rate of capital accumulation. In this context we show that the sign of the relation between the level of the tax rate and the amount of evaded income is the same as that obtained in static set...

RUSSIAN FOREIGN POLICY - INTERESTS VECTORS AND ECONOMIC IMPACT

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ANDREEA – EMANUELA DRǍGOI

2015-12-01

Full Text Available In recent decades, Russia's foreign policy was shaped by both a number of internal factors (government strategy, political elites, culture, economics and demography and external ones (international treaties, changes in the structure of the international power balance. In the post-soviet era Russian foreign policy was radically different from that of other major economic powers. One of the factors that influenced decisively Russia’s external strategies was the collapse of the USSR as a superpower (phenomenon described by the president Vladimir Putin as "the most powerful geo-political catastrophe of the XXst century". The shift from the former communist regime (a totalitarian one to an authoritarian oligarchy (the current regime was followed by the transition to a market economy, a phenomenon that coincided with Russia’s military and political diminished influence in the international arena. Our research aims to assess the main interest vectors that shaped Russian Foreign Policy considering the main events that constitute milestones: Russia’s emerging as a great energy power, the Crimean crisis and Western international economic sanctions that followed. Our paper will base the main assumption on a joint analysis both qualitative and quantitative, using main international economic indicators (GDP, FDI flows, trade flows, general government balance and general gross debt and the most relevant approaches in the literature in the field.

Foreign workers in South Korea

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Su-Jin Lim

2010-07-01

Full Text Available In today’s global age many people cross national borders in search of better work and more wages. According to IOM, more than 100 000 000 workers leave their homeland and migrate to another country for this reason. Europe and North America have already experienced increase in foreign labor for many decades but nowadays, it is very common to see foreign laborers in Asian countries. As the number of foreign laborers rapidly increased, however, so did many social problems in relation to these workers. No country is safe from or immune to such social problems in regards to the foreign workers especially with a much easier and more efficient transportation system. In case of South Korea, the history of foreign labor may not be as long as other nations but as of 2007, it boasts of more than 250 000 foreign laborers and is thus facing just as many social problems as well. In order to investigate such social issues, this article explores the history of foreign laborers and their current situation in South Korea. Furthermore, this artticle examines both internal and external factors which may have caused exponential growth of foreign labor market in South Korea in the past decade.

The Effect of Foreign Direct Investment in Economic Growth from the Perspective of Nonlinear Dynamics

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Ch. K. Volos

2015-09-01

Full Text Available In today’s globalized economy one of the most crucial factors for the economic growth of a country, especially of a developing country, is the foreign direct investment, not only because of the transfer of capital but also of technology. In this work, the effect of foreign direct investments in a county’s economic growth by using tools of nonlinear dynamics is studied. As a model of the economic growth of a country, a well-known nonlinear discrete-time dynamical system, the Logistic map, is used. The system under study consists of two countries with a strong economic relationship. The source country of foreign direct investments is an industrialized, economically powerful and technologically advanced country that makes significant investments in the host country, which is a developing country and strong dependent from the source country. Simulation results of system’s behavior and especially the bifurcation diagrams reveal the strong connection between the countries of the proposed system and the effect of foreign direct investments in the economic growth of the host country.

Foreign Direct Investment – The Case of Botswana

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Patricia Lindelwa Makoni

2015-08-01

Full Text Available This article sets out to analyse the occurrence of foreign direct investment (FDI in Botswana. Diamonds contribute more than 50% of Botswana’s gross domestic product (GDP, hence economic growth and development focus has been on the mining sector. The country’s other sectors of tourism, agriculture, financial services and manufacturing have not received as much support from the Government, private sector and even international investors. This article briefly examines FDI inflow trends and the country’s national economic-building policies which the Government has put in place to diversify its economy from the current export-oriented, diamond mining economy. A country-specific case study approach was adopted. The results yielded show that Botswana is overly dependent on export earnings from diamonds. This leaves the country vulnerable to external global economic shocks. Given that diamonds are a natural resource with a limited lifespan, the Government of Botswana needs to draw up investor-friendly policies to attract FDI inflows to expand its economic base. International capital inflows would complement domestic savings and further boost employment and trade opportunities in the country.

FAKTOR-FAKTOR YANG MEMPENGARUHI FOREIGN DIRECT INVESTMENT (FDI DI KAWASAN ASIA TENGGARA

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Cep Jandi Anwar1

2016-10-01

Full Text Available The need for investment as factors triggering the development of a country has a very important role. Foreign direct investment can be one of the important sources of capital in developing countries, and contribute, the national development by transfer of asset, management, and technology to stimulate the economy of the country.The purpose of this research is to determine the effects of interest rate, inflation, economic growth, openness on foreign direct investment (cases study in 5 South-east Asia countries namely, Indonesia, Malaysia, Thailand, Philippines, and Vietnam period of 2005 to 2012. The analytical method in this study is linear regression analytical method of panel data with Fixed Effect Model (FEM method to calculate the data is used by Eviews 8 software.The result of this research showed that during 2005 to 2012 the economic growth has positive and significant effect on foreign direct investment. Interest rate, inflation, and openness have negative and significant onforeign direct investment. Simultaneously, independent variable is significantly affect on dependent variable.

Biophysical structure of the Ecuadorian economy, foreign trade, and policy implications

International Nuclear Information System (INIS)

Vallejo, Maria Cristina

2010-01-01

At the core of this paper lays the notion that a systematic analysis of material flow accounts enables us to discuss the sustainability of an economic model. Ecuador is going through a socio-ecological transition from an agrarian towards an industrial regime, based on the use of nonrenewable sources of materials and energy. Direct material flow indicators are used in this article to analyze the ecological dimension of the economy of Ecuador during 1970-2007. This approach enables the concept of societal metabolism to become operative. The paper compares societal metabolic profiles showing that per capita use of materials is still at about one-fifth of the average in the high income countries of the world. Physical flows of trade indicate that there is an ecologically unequal exchange. Whereas a positive trade balance is desirable from an economic policy, its counterpart in physical units has been a persistent net outflow of material resources, the extraction of which causes environmental impacts and social conflicts. (author)

Biophysical structure of the Ecuadorian economy, foreign trade, and policy implications

Energy Technology Data Exchange (ETDEWEB)

Vallejo, Maria Cristina [Facultad Latinoamericana de Ciencias Sociales, Pradera E7-174 y Avenida Diego de Almagro, Quito (Ecuador)

2010-12-15

At the core of this paper lays the notion that a systematic analysis of material flow accounts enables us to discuss the sustainability of an economic model. Ecuador is going through a socio-ecological transition from an agrarian towards an industrial regime, based on the use of nonrenewable sources of materials and energy. Direct material flow indicators are used in this article to analyze the ecological dimension of the economy of Ecuador during 1970-2007. This approach enables the concept of societal metabolism to become operative. The paper compares societal metabolic profiles showing that per capita use of materials is still at about one-fifth of the average in the high income countries of the world. Physical flows of trade indicate that there is an ecologically unequal exchange. Whereas a positive trade balance is desirable from an economic policy, its counterpart in physical units has been a persistent net outflow of material resources, the extraction of which causes environmental impacts and social conflicts. (author)

Foreign Investors Able to Establish Foreign- exclusively Exhibition Corporations

Institute of Scientific and Technical Information of China (English)

2005-01-01

Foreign Investors Able to Establish Foreign-exclusively Exhibition Corporations In Feb, Ministry of Commerce issued its 1st decree on temporary regulation for foreign-investing corporations; the regulation allows foreign investors to set up foreign-investing convention & exhibition corporations exclusively or through cooperation with other Chinese corporations, enterprises or organizations. With legal protection on their regulatory management and legal rights, these foreign-investing corporations are in the charge of Department of Foreign Investment Administration, Ministry of Commerce.

Explaining Iceland’s Excessive Boom and Bust: a Political Economy Approach

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Stefán Ólafsson

2016-06-01

Full Text Available We explain the Icelandic bubble economy and the financial crisis of 2008 with lessons from classical political economy theories (Keynes, Minsky, Kindleberger, Reinhart and Rogoff. We ask why and how the Icelandic bubble came about? Why it went so far off track? Who were the main actors? And why they did it? At the base of these developments were changes in the policy environment and institutional changes in finance and economy, which produced both new opportunities and new risks, as well as paving the way for new powers to rise in the society, not least with the full privatization of the state banks in 2003. An overextended belief in the virtues of the free market of the private sector led to a laissez-faire attitude towards the new risks, while the new opportunities were pursued with great efforts. This produced a classical but unusually large financial bubble, culminating in 2003-2008, with massive and risky growth of banks. The main characteristic of the Icelandic bubble was extensive business speculation with borrowed money. The consequence was excessive accumulation of foreign debt, which tends to be the ultimate cause of financial crises. The main actors were the top ten percent of income earners, who gained tremendously during the decade leading up to the collapse. Their incomes grew way beyond all others, not least their financial earnings, which sprang mainly from the activities of the unsustainable bubble economy.

Economies of scale in ICT: how to balance infrastructure and applications for economies of scale in ICT and business

NARCIS (Netherlands)

Woudstra, U.; Dedene, G.; Maes, R.

2011-01-01

This study offers new insight into the economies of scale of ICT departments. Drawing from data on Housing Corporations, Municipalities and Hospitals, evidence was found that particularly infrastructure-related investments leverage a more efficient use of ICT resources. The measured economies

Economies of scale in ICT: how to balance infrastructure and applications for economies of scale in ICT and business

NARCIS (Netherlands)

Woudstra, U.A.

2010-01-01

This study offers new insight into the economies of scale of ICT departments. Drawing from data on Housing Corporations, Municipalities and Hospitals, evidence was found that particularly infrastructure-related investments leverage a more efficient use of ICT resources. The measured economies

The economy of privately owned windmills

International Nuclear Information System (INIS)

1994-01-01

The Danish government ordered that an investigation of the economy of privately owned windmills be undertaken from 1991. Updating is a part of the follow-up of Danish energy policy designated ''Energi 2000'' (Energy 2000). The report contains descriptions of the calculation methods used and related conditions, data on individual privately owned windmills, a summary of the most important tax and duty regulations, details of conditions for private windmill owners, a sensitivity analysis and an analysis of the development of the economy of privately owned windmills since 1991. It is concluded that, based on the current values named in the 1991 report, there is a drop in the case of cooperatively owned windmills of ca. 235,000 DKr and a rise in current value in the case of one-man owned windmills of 270,000 DKr. It is concluded that the changed conditions of the economy since 1991 has resulted in a poorer economy in relation to cooperatively owned windmills and an improvement in single-ownership windmills so that the current value in the latter is now positive. (AB)

From colonial empires to developing countries and on to emerging economies : the international expansion of the Dutch brewery Heineken, 1930-2010

NARCIS (Netherlands)

Sluyterman, K.E.; Bouwens, A.M.C.M.

2015-01-01

This article analyzes the foreign expansion of the Dutch brewery Heineken in countries that were successively seen as colonies, developing countries, and emerging economies. Why did Heineken want to go overseas as early as the 1930s, what advantages could the brewer offer, and what challenges did it

The environmental economy accounts for 2014

International Nuclear Information System (INIS)

Bourges, Benoit; Kurtek, Olivier; Margontier, Sophie; Auzanneau, Muriel; Caudron, Cedric; Diel, Olivier; Ghewy, Xavier; Guilhen, Jean-Michel; Pasquier, Isabelle; Moreau, Sylvain; Bottin, Anne; Carriere, Celine

2017-03-01

The environment related sector of the economy has been growing since the early 2000's. Between 2004 and 2014, employment in environmental activities grew by 33 %, a growth rate greater than that of the economy as a whole (+ 3 %). Spending on environmental protection reached euro 47.6 billion, increasing annually on average at 3.5 %, while average annual growth in GDP was 2.6 % over the same period. However, the importance of the sector remained relatively low: it represented 1.7 % of total employment and 1.4 % of GDP. Moreover, the net impact on the economy is not measurable, as jobs created have compensated for jobs lost in other sectors. Similarly, while environmental taxation in relation to GDP had grown since 2008 with the TICPE and the CSPE - respectively a tax on domestic consumption of energy products and a levy in support of the public electricity provider - it remained at a lower level than in the rest of Europe. (authors)

Foreign Policy: Approaches, Levels Of Analysis, Dimensions

OpenAIRE

Nina Šoljan

2012-01-01

This paper provides an overview of key issues related to foreign policy and foreign policy theories in the wider context of political science. Discussing the origins and development of foreign policy analysis (FPA), as well as scholarly work produced over time, it argues that today FPA encompasses a variety of theoretical approaches, models and tools. These share the understanding that foreign policy outputs cannot be fully explained if analysis is confined to the systemic level. Furthermore,...

Comparison between response dynamics in transition economies and developed economies

Science.gov (United States)

Tenenbaum, Joel; Horvatić, Davor; Bajić, Slavica Cosović; Pehlivanović, Bećo; Podobnik, Boris; Stanley, H. Eugene

2010-10-01

In developed economies, the sign of the price increment influences the volatility in an asymmetric fashion—negative increments tend to result in larger volatility (increments with larger magnitudes), while positive increments result in smaller volatility. We explore whether this asymmetry extends from developed economies to European transition economies and, if so, how such asymmetry changes over time as these transition economies develop and mature. We analyze eleven European transition economies and compare the results with those obtained by analyzing U.S. market indices. Specifically, we calculate parameters that quantify both the volatility asymmetry and the strength of its dependence on prior increments. We find that, like their developed economy counterparts, almost all transition economy indices exhibit a significant volatility asymmetry, and the parameter γ characterizing asymmetry fluctuates more over time for transition economies. We also investigate how the association between volatility and volatility asymmetry varies by type of market. We test the hypothesis of a negative correlation between volatility and volatility asymmetry. We find that, for developed economies, γ experiences local minima during (i) “Black Monday” on October 19, 1987, (ii) the dot-com bubble crash in 2002, and (iii) the 2007-2009 global crisis while for transition economies, γ experiences local maxima during times of economic crisis.

Interdisciplinary Approach to the Study of Shadow Economy

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Elena Aleksandrovna Orekhova

2016-03-01

Full Text Available Currently the institutional factors of economic development are updated. The problem of neutralizing the impact of informal institutions is becoming paramount. In order to develop adequate measures to influence the shadow economy and the development of the concept of anti-shadow policies requires a deep and comprehensive study of the shadow socio-economic processes in Russia. It is necessary to recognize the fact that the methods of struggle against the shadow economy have not yet had the desired effect, that implies the conclusion – the causes of the shadow economy have deep roots and are out of the sphere of economic relations. Shadow economic processes are the result of the behavioral characteristics of people, socio-psychological reasons as a consequence of the low cultural level, marginality, inefficient conjugation of institutions and culture, lack of confidence in the society, the specific characteristics of economic mentality, etc. Therefore, if the causes of the shadow relations are rooted in completely different spheres, then the methods of research should also belong to different sciences. The article considers the methodological possibilities in the study of the Russian shadow economy. The logical sequence of the shadow economy research includes empirical and theoretical stages. The level of the empirical phase of gathering facts about the shadow economy has a number of complexities and peculiarities. On a theoretical level there is necessity of multimethodological approach. The authors proved the usefulness of the methodological system and the results of research in the fields of sociology, psychology, criminology, statistics and mathematics, as well as related to the economy of sciences – economic psychology, behavioral economics, economic teratology, and others. The article proposes to carry out studies of the shadow economy at the different levels of architectonics of the institutional structure of shadow economy: the nano

The impact of oil on the Scottish economy with particular reference to the Aberdeen economy

International Nuclear Information System (INIS)

Lloyd, M.G.; Newlands, D.A.

1992-01-01

The establishment of the North Sea oil industry over the last 20 years has had far reaching and dramatic effects upon the whole Scottish economy but especially upon those areas where oil related activity is geographically concentrated. This chapter discusses the impact of oil on the Scottish economy with particular reference to developments in the Aberdeen area. It is comprised of five main sections. The first outlines the way in which the oil industry has developed in Britain, noting that, despite rapid growth, there have been many lost opportunities. The impact of oil related developments in Scotland is discussed next before the focus narrows to the Aberdeen economy. The third section describes the familiar benefits of oil developments in Aberdeen while the fourth section analyses some of the less familiar costs. Finally, there is some discussion of the way in which the gains and losses of oil developments in Aberdeen have been distributed. (author)

Peter Koslowski’s Ethics and Economics or Ethical Economy

DEFF Research Database (Denmark)

Rendtorff, Jacob Dahl

2016-01-01

This paper presents the concept of ethical economy (Wirtschaftsethik) and the relation between ethics and economics on the basis of the work of the German ethical economist Peter Koslowski. The concept of ethical economy includes three levels: micro, meso and macro levels; and it also deals...... with the philosophical analysis of the ethical foundations of the economy. After the discussion of these elements of the ethical economy, the paper presents some possible research topics for a research agenda about economic ethics or ethical economy....

Canada’s Foreign Direct Investment Challenge: Reducing Barriers and Ensuring a Level Playing Field in the Face of Sovereign Wealth Funds and State-Owned Enterprises

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Matt Krzepkowski

2010-10-01

Full Text Available Recent takeovers – and attempted takeovers – of strategic resource companies have renewed concerns that some of Canada’s prized corporate players are falling into foreign hands. However, data shows that Canada has not been a significant attractor of multinational investment, lagging behind a number of developed and developing nations. Indeed, since the mid-1990s, Canada has been a net exporter of capital in world markets, as foreign direct investment by Canadian companies far outpaced the inflow of foreign capital. Rather than being hollowed out, we are hollowing out other countries. As a general policy, Canada should reduce barriers to foreign direct investment and welcome our growing role in international markets. As many studies have shown, foreign direct investment brings significant net benefits to the Canadian economy, including knowledge transfers, new management, better wages and productivity. Only in limited circumstances, such as in the case of protecting Canada’s national security, should Canada block foreign takeovers of Canadian companies. In the interest of neutrality and minimizing economic distortions, takeovers of Canadian companies by foreign sovereign wealth funds or state-owned enterprises should be reviewed on a case-by-case basis. When state-owned enterprises have similar commercial objectives and operate on a level-playing field without financial support by state owners, they could also provide net benefits to the Canadian economy. One important area that requires further consideration is with respect to the tax-exempt status of sovereign wealth funds and state-owned companies. Canadian tax treaties should be reviewed to ensure that Canadian withholding taxes maintain an even playing field among private and state-owned businesses operating in Canada.

The relative economic progress of male foreign workers in Kuwait.

Science.gov (United States)

Al-qudsi, S S; Shah, N M

1991-01-01

"A human capital framework is utilized to examine the economic progress of nine nationality groups of foreign workers [in Kuwait] using data from the 1983 national Labor Survey. The sources of earnings' variations of particular interest to us included different degrees of education and experience transferability, occupational affiliation and ethnic background. In general, the results derived from the analysis suggest that 1) foreign workers achieve a discernible economic progress as their residence lengthens; 2) the rate of economic progress varies depending on worker's education, home and Kuwait-specific experience, occupational status and ethnic background; and 3) about one third of the earnings inequality is due to unexplained factors including discrimination." excerpt

The relation between energy - ecology - economy

International Nuclear Information System (INIS)

Horn, J.

1977-01-01

In North America and Western Europe, supporters of zero growth think that economy and energy, on the one hand, and an intact ecology, on the other, are opposites or opposing tendencies which cannot go hand in hand. These people also contest the claim that there is a linear correlation between a developing ecology and technology and increased energy consumption. The author thinks that the above basic assumptions are wrong and not in agreement with either the laws of evolution of the geosphere or with the necessities of the present political and economic situation. Giving an outline of the history of evolution and the present situation, especially in the developing countries, he shows that there is a linear, self-strengthening correlation between economic growth and capital-intensive technological innovation on the one hand and environmental improvement on the other. (orig./GG) [de

The Impact of Country Risk on the Dynamics of Foreign Direct Investments in Romania

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Sorcaru Sergiu-Lucian

2016-12-01

Full Text Available The main objective of the scientific approach consists of country risk analysis to substantiate the Foreign Direct Investments (FDI in Romania. The thesis proposes a new approach and analysis regarding the risks to which foreign investors are subjected to, both in terms of concepts and theoretical understanding of the phenomena. As a method of analysis we have used qualitative research as it focuses on cultural studies of the place chosen for investment; on the sociological survey and it covers an extensive interdisciplinary field. The motivation of approaching so an important topic on country risk and the importance it has in the location of foreign investments in general, and especially the direct foreign investments, is justified on the one hand by the scarcity of studies in the field, and, furthermore, the impact of economic policies that it can have such research. The results or our approach are correlated with statistical data analysis, which allowed the creating a general framework on the country risk influence on FDI. The added value lies in the approach particularly complex due to the multitude of variables involved, and the risk management is an absolute necessity in today's economy.

Knowledge Economy

OpenAIRE

Kerr, Aphra; O Riain, Sean

2009-01-01

We examine a number of key questions regarding this knowledge economy. First, we look at the origin of the concept as well as early attempts to define and map the knowledge economy empirically. Second, we examine a variety of perspectives on the socio-spatial organisation of the knowledge economy and approaches which link techno-economic change and social-spatial organisation. Building on a critique of these perspectives, we then go on to develop a view of a knowledge economy that is conteste...

Green capitalist economies through a focus on labour

DEFF Research Database (Denmark)

Lopez-Alonso, Rocio Hiraldo

to a broader process of primitive accumulation where workers enable capital accumulation through their adaptations to capital. Production in the green economy is based on social relations that perpetuate poverty, inequality and neo-colonial relations in neoliberal Senegal. The different contribution of nature......-based tourism and PES projects to capital accumulation and the importance of class conflict, workers’ disagreement and hope in this case study emphasise the heterogeneity and unpredictability of green economies. Socially-committed researchers will benefit from integrating labour and the relations of production...... institutions, while little is known about how people working to make a living (hereafter “workers”) are experiencing the development of green economies. This thesis seeks to fill this gap. It studies how the conditions of workers’ labour are being shaped by the social relations of production enabling...

Status rent in new developing economy

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Aleksandrova Natal'ja

2012-01-01

Full Text Available The status rent and conditions of its appearance are characterized in new developing economy by the position of new political economy. The bases of the general theory of rent were laid by classicists of political economy (F. Cene, A. Smith, J. Anderson, J. Mill, T. Maltus, D. Ricardo, K. Marx. They differentiated the rare rent (natural, absolute rent and differential land rent. Neoclassicists widened the definition of rent understanding it as income from any productive factor not only from land. Mostly, investigators of rent keep to two main postulates. Firstly, it is over profit, the income of special kind connected with using of exclusive, limited or rare goods for some time. Secondly, the rent is owned by the owners of these goods. These statements belonging to the natural rent can be used for the analysis of others, unnatural kinds of rent. The status rent belongs here. Let us analyze the status rent from the position of new political economy. As old political economy the new one also has its object - economic relations in the society and it call for the opening of deep, important processes of economic life. But by contrast with old political economy the new one, firstly, is based on other methodology (institutional economy, the theory of social choice, system approach; secondly, it studies economic relations not as static (the position of different classes, but as dynamic in economic behavior; thirdly, it is not confrontational: economic relations are understood not as antagonistic with non-avoidance of social cataclysm but as conflict-compromising; fourthly, it operates not only with social aggregates (class, country, social group, but it is also directed to a person, his/her freedom of choice in economic behavior; and, finally, fifthly, it overcomes the past careful marking out of other sciences, and, on the contrary, strives for an interdisciplinary approach in the stream of modern institutionalism including the problems of sociology

Risk Aversion and Engagement in the Sharing Economy

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Jessica Santana

2015-10-01

Full Text Available The sharing economy is a new online community that has important implications for offline behavior. This study evaluates whether engagement in the sharing economy is associated with an actor’s aversion to risk. Using a web-based survey and a field experiment, we apply an adaptation of Holt and Laury’s (2002 risk lottery game to a representative sample of sharing economy participants. We find that frequency of activity in the sharing economy predicts risk aversion, but only in interaction with satisfaction. While greater satisfaction with sharing economy websites is associated with a decrease in risk aversion, greater frequency of usage is associated with greater risk aversion. This analysis shows the limitations of a static perspective on how risk attitudes relate to participation in the sharing economy.

KOBİ’lerde Girişimcilik Değerleri ve Dış Ticaret Faaliyetleri Arasındaki İlişki: Sanayi İşletmeleri Örneği - The Relationship Between The Values Of Entrepreneurship And Foreign Trade Activities In SME’s: The Case Of Industrial Enterprises

Directory of Open Access Journals (Sweden)

Ayberk ŞEKER

2016-06-01

Full Text Available Nowadays, SME’s and entrepreneurs have important roles in the national and international economy in terms of countries. SME’s and entrepreneurs have several advantages in competitive market economy. These advantages are adapting increasing competition, gaining knowledge of market and production, undertaking the risks that may occur, adapting quickly to innovations in the organization. In this study, it is analyzed relationship between SME’s entrepreneurship values and foreign trade activities. It has been included to study that foreign trade firms in Ankara, Istanbul, Adana, Mersin, Bursa and Kocaeli in order to evaluate their views of foreign trade activities and determine relationship between entrepreneurship and foreign trade. In the scope of the research, it is used primary data that belong to 180 SMEs. The empirical result of research shows that there are positive relationship between entrepreneurship values and foreign trade.

On inflation in the Russian economy

Directory of Open Access Journals (Sweden)

Alexey I. Bolonin

2014-01-01

Full Text Available For the economy is very important to have the amount of money in circulation, sufficient to serve the movement of goods and services without generating inflation, indicating an excess of money, so matching the growth rate of monetary and commodity weight control is an important task of the monetary system in all countries. During the time of the gold standard and bimetallism regulation of the economy as a whole was not considered as an important macroeconomic problem. But the economic crisis of 1929 - 1933 forced to reconsider these views and problems of regulation of financial and credit sphere began to be perceived as a function of a stable level of production and employment. The article describes the monetary factors of inflation in the economy and describes the causes, which can lead to programming of monetary growth in the Russian Federation. As the first group of factors impact on the volume of money in circulation in the national economy, the author defined low value added products produced in the country, based on the external market, and the absence, so the room for maneuver of financial resources to stabilize budget revenues with a deterioration in global market conditions. The weakening of the national currency provides large ruble revenues from exports, which reduces the growth of the budget deficit. But the decline of import revenues, which can compensate for the devaluation of the national currency, leads to higher prices in the domestic market due to the prevalence it offers imported goods. The second group of factors linked to the credit activity of banks, which consists in increasing primary issue in lending importers and secondary, which occurs during the formation of foreign exchange reserves by the Bank of Russia. Result of credit activity of banks is to increase money supply growth and the discrepancy between the higher growth of money in circulation and lower growth rates actually created in the production of value added

Real-Time Price Discovery in Global Stock, Bond and Foreign Exchange Markets

DEFF Research Database (Denmark)

Andersen, Torben G.; Bollerslev, Tim; Diebold, Francis X.

Using a unique high-frequency futures dataset, we characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. We find that news produces conditional mean jumps; hence high-frequency stock, bond and exchange rate dynamics...... are linked to fundamentals. Equity markets, moreover, react differently to news depending on the stage of the business cycle, which explains the low correlation between stock and bond returns when averaged over the cycle. Hence our results qualify earlier work suggesting that bond markets react most strongly...... to macroeconomic news; in particular, when conditioning on the state of the economy, the equity and foreign exchange markets appear equally responsive. Finally, we also document important contemporaneous links across all markets and countries, even after controlling for the effects of macroeconomic news....

Foreign-Related Commercial Dispute Resolution in China: a focus on litigation and arbitration

NARCIS (Netherlands)

B. Yuan (Bo)

2017-01-01

markdownabstractThe significant increase of foreign investment and trade is an important impetus for China’s economic development after the 1978 reform. The prosperity of foreign investment and trade brings both opportunities and challenges: accompanied by the increasing investment and trade

Foreign bodies: radiopaque compared to what?

Energy Technology Data Exchange (ETDEWEB)

Halverson, Mark; Servaes, Sabah [The Children' s Hospital of Philadelphia, Department of Radiology, Philadelphia, PA (United States)

2013-09-15

The term ''radiopaque'' is commonly used when discussing foreign bodies and lists of radiopaque and non-radiopaque materials are sometimes created, but radiopacity is not a binary concept. A more fundamental understanding of radiopacity is necessary for the work-up of foreign bodies. To demonstrate that ''radiopaque'' is a relative term. Twenty foreign bodies of various sizes, shapes and materials were placed in a basin. Radiographs were obtained of the objects with 0, 2.5, 5 and 10 cm depth of water in the basin to simulate the appearance of a foreign body in human tissue. The progressively changing appearance of the objects was observed. All of the objects were radiographically visible in the empty basin. Different objects demonstrated different appearances when immersed in progressively deeper levels of water, illustrating the effect of the surrounding water as well as the effects of object shape, size, orientation and composition. The concept of radiopacity seems simple and the term ''radiopaque'' is sometimes used to describe an all or none phenomenon. However, radiopacity is a comparative concept implying relative X-ray attenuation. Accurate understanding of the radiographic appearance of foreign bodies requires one to keep in mind the concepts of relative X-ray attenuation and contrast resolution. (orig.)

Corporate taxes in the world economy: reforming the taxation of cross-border income

OpenAIRE

Grubert, Harry; Altshuler, Rosanne

2006-01-01

Proposals for the reform of the taxation of cross-border income are evaluated within the general context of the corporate tax in an open economy. We focus on the various behavioral decisions that can be affected such as the location of income and its repatriation. The two income tax proposals considered are: (1) dividend exemption and (2) burden neutral worldwide taxation in which all foreign subsidiary income is included currently in the U.S. worldwide tax base, and at the same time the corp...

THE EFFECTS OF FOREIGN DIRECT INVESTMENT ON THE ECONOMIES OF CENTRAL AND EASTERN EUROPE COUNTRIES

Directory of Open Access Journals (Sweden)

CUCOŞ PAULA – ROXANA

2016-08-01

Full Text Available The present study aims to highlight the positive impact that foreign direct investments have on occupancy rate, on government revenue and economic growth of Central and Eastern Europe countries. The period of time that was analyzed is conducted from 1993 to 2012. Results have validated what the literature says, namely that FDI exerts a positive influence on economic growth in the FDI receiving countries.

The solar-hydrogen economy: an analysis

Science.gov (United States)

Reynolds, Warren D.

2007-09-01

The 20th Century was the age of the Petroleum Economy while the 21st Century is certainly the age of the Solar-Hydrogen Economy. The global Solar-Hydrogen Economy that is now emerging follows a different logic. Under this new economic paradigm, new machines and methods are once again being developed while companies are restructuring. The Petroleum Economy will be briefly explored in relation to oil consumption, Hubbert's curve, and oil reserves with emphasis on the "oil crash". Concerns and criticisms about the Hydrogen Economy will be addressed by debunking some of the "hydrogen myths". There are three major driving factors for the establishment of the Solar-Hydrogen Economy, i.e. the environment, the economy with the coming "oil crash", and national security. The New Energy decentralization pathway has developed many progressive features, e.g., reducing the dependence on oil, reducing the air pollution and CO II. The technical and economic aspects of the various Solar-Hydrogen energy options and combinations will be analyzed. A proposed 24-hour/day 200 MWe solar-hydrogen power plant for the U.S. with selected energy options will be discussed. There are fast emerging Solar Hydrogen energy infrastructures in the U.S., Europe, Japan and China. Some of the major infrastructure projects in the transportation and energy sectors will be discussed. The current and projected growth in the Solar-Hydrogen Economy through 2045 will be given.

Development of Green Business as an Approach to Financing the Greening of Economy

Directory of Open Access Journals (Sweden)

Natal’ya Nikolaevna Yashalova

2016-11-01

Full Text Available The issues of green economy development are in the focus of attention of Russian and foreign scientists. Its formation was influenced by environmental activities financing sources. The article presents the description of budgetary and extra-budgetary environmental protection financing. Special attention is paid to the need to strengthen private financial support of environmentally determined activities, which can be implemented as part of development of ecopreneurship. The purpose of this article is to identify the trends in budgetary and extra-budgetary environmental protection financing and resource conservation in the Russian Federation and to rationalize theoretically the necessity of business participation in financing of environment-related business ideas, which is aimed at supporting the greening of economic activity at the regional level. The methods of empirical and statistical research, systematization and generalization of information have been used. SWOT analysis has identified the strengths and weaknesses of green business, as well as the opportunities for and threats to its development. The study systematizes the information on the sources of financing of environment-related activities, identifies their strengths and weaknesses, and analyzes statistical data on financial aspects of environmental protection. It has been established that the financing of environmental activities in the regions is carried out according to the residual principle; most of the sources of environment financing are unavailable to economic entities; indirect assistance in the implementation of environment-related management finds absolutely no application. The material presented in this paper can be used by public authorities in the development of measures to facilitate the transition to green economy and may also be applicable in the educational process. The authors conclude that the successful transition of Russian regions to the path of sustainable

National Identification and Intercultural Relations in Foreign Language Learning

Science.gov (United States)

Rivers, Damian J.

2010-01-01

Framed within debates concerning national identification and English as a Foreign Language education within Japan, the current study explores the relationships between three specific attitudinal facets of Japanese national identification (internationalism, patriotism and nationalism), the perceived vitality of English-speaking nations, the…

The effects of public debt on foreign direct investment in South Africa (1983-2013: An empirical analysis

Directory of Open Access Journals (Sweden)

Mary Oyemowo Oche

2016-12-01

Full Text Available The political move in South Africa occurred against a setting of high government deficits. Efforts have been made over the years by the government to reduce fiscal deficit and inflation, liberalize the capital account and the financial system as well as reduce tariffs. The main objective of this study, therefore, is to empirically investigate the effect of public debt on foreign direct investment in South African for the period 1983 – 2013. The study employs a Vector Error Correction Model, which provides both the long run and short run relationships among the variables. The long run results indicate that the relationship between public debt and foreign direct investment, as well as interest rate and foreign direct investment, is positive and statistically significant, while there is an insignificant negative relationship between exchange rate and foreign direct investment. Based on the long run results, the study, thus, recommend that the level of public debt and interest rate should increase so that the level of foreign direct investment can increase in the country. However, the policy of depreciation of rand is considered inappropriate for the economy if the desire is to increase the level of foreign direct investment in the country

22 CFR 63.5 - Grants to foreign participants to study.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Grants to foreign participants to study. 63.5 Section 63.5 Foreign Relations DEPARTMENT OF STATE PUBLIC DIPLOMACY AND EXCHANGES PAYMENTS TO AND ON BEHALF OF PARTICIPANTS IN THE INTERNATIONAL EDUCATIONAL AND CULTURAL EXCHANGE PROGRAM § 63.5 Grants to...

Symbolic convergence and the hydrogen economy

International Nuclear Information System (INIS)

Sovacool, Benjamin K.; Brossmann, Brent

2010-01-01

This article documents that the hydrogen economy continues to attract significant attention among politicians, the media, and some academics. We believe that an explanation lies in the way that the hydrogen economy fulfills psychological and cultural needs related to a future world where energy is abundant, cheap, and pollution-free, a 'fantasy' that manifests itself with the idea that society can continue to operate without limits imposed by population growth and the destruction of the environment. The article begins by explaining its research methodology consisting of two literature reviews, research interviews of energy experts, and the application of symbolic convergence theory, a general communications theory about the construction of rhetorical fantasies. We then identify a host of socio-technical challenges to explain why the creation of a hydrogen economy would present immense (and possibly intractable) obstacles, an argument supplemented by our research interviews. Next, we employ symbolic convergence theory to identify five prevalent fantasy themes and rhetorical visions-independence, patriotism, progress, democratization, and inevitability-in academic and public discussions in favor of the hydrogen economy. We conclude by offering implications for scholarship relating to energy policy more broadly.

UNDERGROUND ECONOMY, INFLUENCES ON NATIONAL ECONOMIES

Directory of Open Access Journals (Sweden)

CEAUȘESCU IONUT

2015-04-01

Full Text Available The purpose of research is to improve the understanding of nature underground economy by rational justification of the right to be enshrined a reality that, at least statistically, can no longer be neglected. So, we propose to find the answer to the question: has underground economy to stand-alone?

Nuclear energy development and national economy

International Nuclear Information System (INIS)

Fukami, Hiroaki

1982-01-01

The utilization and development of nuclear power in Japan are now advanced on the basis of a fact that nuclear power generation has taken root in the country. The scale of nuclear power generation is currently a total of 22 power plants with aggregate capacity over 15,500 MW, 16% of the total power generation. There are still two alternate arguments: i.e. whether nuclear energy can be a complete substitute of petroleum or not, because the consumption of petroleum is necessary for the fuel cycle. Due to the rise of petroleum price, the nuclear power generation is now positively economical. On the other hand, the promotion of nuclear power can lead to the saving in foreign currency. While the economy in nuclear power is through the use of LWRs presently, the research and development efforts in ATRs, FBRs, etc. are essential for the future. (Mori, K.)

Evaluating the Environmental Dimension of Material Efficiency Strategies Relating to the Circular Economy

Directory of Open Access Journals (Sweden)

Stuart Walker

2018-03-01

Full Text Available Material efficiency is a key element of new thinking to address the challenges of reducing impacts on the environment and of resource scarcity, whilst at the same time meeting service and functionality demands on materials. Directly related to material efficiency is the concept of the Circular Economy, which is based on the principle of optimising the utility embodied in materials and products through the life-cycle. Although materials such as steel, on account of high recycling rates at end-of-life, are amongst the most ‘circular’ of manufactured materials, significant opportunities for greater material efficiency exist, which are yet to be widely implemented. Life Cycle Assessment (LCA is commonly used to assess the environmental benefits of recovering and recycling materials through the manufacturing supply chain and at end-of-life. Using an example taken from renewable energy generation, this paper explores the correlation between product circularity and the environmental case for strategies designed to improve material efficiency. An LCA-based methodology for accounting for the recovery and reuse of materials from the supply chain and at end-of-life is used as the basis for calculating the carbon footprint benefits of five material efficiency scenarios. The results are compared with a number of proposed material circularity indicators. Two conclusions from this exercise are that (i LCA methodologies based around end-of-life approaches are well placed for quantifying the environmental benefits of material efficiency and circular economy strategies and (ii when applying indicators relating to the circularity of materials these should also be supported by LCA-based studies.

Linear Economy Versus Circular Economy: A Comparative and Analyzer Study for Optimization of Economy for Sustainability

Directory of Open Access Journals (Sweden)

Sariatli Furkan

2017-05-01

Full Text Available Upon visiting the existing literature on the subject of linear vs. circular economy, this paper finds that, the blueprint of the current economy is hardly sustainable by using the comparative benchmarking method that drained from literature. The intrinsic mechanics of the linear economy, by relying on the wasteful take - make - dispose flow, is detrimental to the environment, cannot supply the growing populace of our planet with essential services and it naturally leads to strained profitability. Elements of a plausible solution to the challenges have been around for decades, although they have only recently been compiled in to the conceptual framework of circular economy. The core ideas of Circular Economy are elimination of waste by design, respect for the social, economic and natural environment and resource-conscious business conduct. Built on the backbone of these principles, the circular economy has demonstrated to deliver tangible benefits and viability to address the economic, environmental and social challenges of our days.

40 CFR 600.114-08 - Vehicle-specific 5-cycle fuel economy calculations.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 29 2010-07-01 2010-07-01 false Vehicle-specific 5-cycle fuel economy... (CONTINUED) ENERGY POLICY FUEL ECONOMY AND CARBON-RELATED EXHAUST EMISSIONS OF MOTOR VEHICLES Fuel Economy... fuel economy calculations. This section applies to data used for fuel economy labeling under Subpart D...