Theorising free capital mobility: the perspective of developing countries

2011 ◽  
Vol 37 (5) ◽  
pp. 2519-2534 ◽  
Author(s):  
LI SHENG

AbstractUsing a simple economic model, this article illustrates the greatly diverging interests and preferences of developed and developing countries with regards to capital mobility. Theoretically, developed countries' gain from free capital mobility likely comes at the expense of risk and loss for developing countries due to the latter's financial vulnerability. It is also found that it does not pay for a developed country to push its developing counterparts into prematurely liberalising their capital markets because this type of impatience reduces the developed country's own first-mover advantage in strategic bargaining for capital mobility benefits.

2017 ◽  
Vol 6 (2) ◽  
pp. 288-314
Author(s):  
Li Zong ◽  
Yixi Lu

AbstractTraditional approach to the issue of “brain drain” and “brain gain” focuses on outflow and inflow of migration of academics and professionals between countries of origins and destinations. It is suggested that, in the international labor market, the developing countries have experienced the problem of brain drain while the developed countries have benefited from brain gain in the process of globalization and international mobility of talent. From this perspective, “brain drain” or “brain gain” is primarily measured by the number of talented people who have “moved in” or “moved out” of a country, but not the extent to which the “brain” has been utilized. This study redefines the notion of “brain drain” by focusing on the actual utilization of professional talents. Previous research findings show that despite attractive Canadian immigration policy and the increasing number of professional immigrants, Canada as a developed country has the problem of “brain waste” due to its systemic barriers such as the devaluation of foreign credentials and non-recognition of foreign work experience for professional Chinese immigrants. At the same time, China as a developing country has benefited from contributions made by highly educated professionals/students returning to their home country through its attractive and rewarding opportunities for those who have attained knowledge and skills from overseas. China has become a model of “brain gain” for developing countries by implementing a series of open and favorable policies to attract top-notch overseas Chinese and foreign talents to help promote the economic development and global competitiveness of the nation.


1993 ◽  
Vol 20 (3) ◽  
pp. 232-242 ◽  
Author(s):  
Sam H. Ham ◽  
David S. Sutherland ◽  
Richard A. Meganck

Interpretation is most effective when its form and content are adapted to the situations in which it will be presented. Although many developed countries have a long and rich tradition of interpretation, the physical, financial, and socio-economic, differences among and within developing nations suggest that this tradition will not always apply there. As our colleagues in developing countries look for interchange and suggestions, the temptation to impose our model—and the difficulty for them to accept it—will be great.Interpreters in developing countries need to pursue a different model—one which gives relative emphasis to interpretation's role in strategic environmental education for target audiences. Though not altogether excluding the visitor service function that is frequently emphasized in US protected areas, interpretive programmes in many developing countries are often included as just one component of country-wide environmental education master-plans aimed at establishing sustainable development as a national ideology.Host countries sometimes accept the conventional model too readily, often because the only available training materials are translated from these sources. When application falls short of expectations, in-country interpreters usually blame themselves or conclude that interpretation ‘just isn't for us—rather than questioning the model they have been handed. Universities must also share some of the responsibility for this sorry state of affairs. International students studying at US or European institutions sometimes return home better prepared to work as interpreters in those countries’ protected areas than in those in their own countries. Trainers and teachers, whether working at home or elsewhere, need to do a better job of listening to their students. They need to learn what it is like to be an interpreter in that student's country, and they need to learn what it is like to be part of the audience. Would we accept anything less of our own mentors and interpretive trainers?Clearly, a superior strategy to exporting our model of interpretation is to assist developing countries in arriving at their own. Over many decades, interpreters in the US and other developed countries have developed a profound knowledge about their craft. Although much of it will not apply everywhere, some of our ideas may have widespread application. The key will be to determine which ones these are. Working with our developed country colleagues, learning with them and through them, we can explore together a range of possibilities that neither of us is able to envision alone. Filtered through our cultures and individual realities, the ideas which have merit will be identified and put to test. Others will be rejected. In the very best scenario, both parties will learn, and sustainable environmental quality will be the result.


2018 ◽  
Author(s):  
Lucas Volman

My dissertation examines compulsory licensing under Article 31 of the TRIPS Agreement by looking at the use of such licensing by developing countries, as well as retaliatory and restrictive measures imposed by developed countries. In doing so, it looks at the right to health, and price and intellectual property considerations for access to medicines in developing countries. It further explores the TRIPS compulsory licensing rules themselves to present compulsory licensing as a legitimate, and at times necessary, policy measure under international law. Then, it examines how compulsory licensing has been used and restricted since TRIPS, and how the compulsory licence relates to voluntary licensing and international free trade agreements, both of which are factors for the development of compulsory licensing strategies in developing countries.


Author(s):  
Tatiana V. Lezhenina ◽  

In the 21st century, a breakthrough in the global economy has come to transition to a new stage in the development of high technologies in the economy, social environment and strengthening the ties between countries along the path to new progress and cooperation. Vietnam has already emerged from the state of a medium-developed economy and gained experience for the transition to a highly developed economy, using the best practices and knowledge of the USA, Japan, the Republic of Korea, and China. Vietnam’s interaction with Russia has grown, using its experience in introducing into the economy and life new methods of using and transmitting information of universal scale and significance. For Vietnam, the transition to a new economic model will provide foreign direct investment, especially from highly developed countries. Tasks . Explore the factors and conditions of Vietnam's transition to a new economic model. Methodology. The methods of scientific knowledge of the main features and characteristics of the transition to a new high-tech model in the XXI century are used. Results. The high volume of Vietnam’s trade relations with highly developed countries of the world is proved, as one of the decisive factors for accumulating the resources for the transition to a new model, FDI received in Vietnam in the first two decades of the 21st century, its volume structure, investing countries, FDI, etc. are considered. Conclusions. Vietnam was able in a short historical time, passing the warriors and American aggression to create a solid foundation for the transition to a highly developed country in Southeast Asia. Vietnam received considerable assistance during this transition period from Russia.


2021 ◽  
Author(s):  
Joe Thwaites ◽  
Julie Bos

In 2009, as part of the Copenhagen Accord, developed countries committed to collectively mobilizing $100 billion annually in climate finance by 2020 to support developing countries in reducing emissions and adapting to climate change. This commitment is foundational to the “grand bargain” behind the Paris Agreement: that all countries would commit to more ambitious climate action but developing countries would require enhanced support from developed countries to do so. The $100 billion is a collective commitment by developed countries, and meeting it will require them all to do their part. Over the past decade, there have been several assessments of aggregate progress towards the goal, but until now, no data set has attempted to comprehensively break down each country’s full public financial contribution. This technical note aims to fill this gap, increasing transparency and accountability around progress towards the $100 billion commitment by breaking down how much each developed country has contributed in public climate finance between 2013 and 2018, the most recent year for which comprehensive data are available. The individual breakdowns are then used to assess how countries’ efforts compare using a variety of metrics. The methodology for breaking down and analyzing individual country contributions can be applied to future climate finance data. To improve accountability of countries’ contributions towards the $100 billion commitment, this technical note identified several methodological barriers that need to be addressed in future climate finance reporting efforts.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tanzeela Aqif ◽  
Abdul Wahab

Purpose The increased awareness among consumers and strong competition have forced companies to put extra efforts and fulfill their social responsibility along with earning profits. The research aims to review corporate social responsibility (CSR)-related literature specifically determinants, outcomes and disclosure of CSR while adapting a comparative approach for developing and developed countries. Design/methodology/approach Based on theoretical frameworks of CSR, the authors have reviewed past studies conducted in past 10 years. While using keywords and synonyms, the databases such as JSTOR, Emerald, SpringerLink and ScienceDirect were used for searching impact factor and Scopus journals. Thematic analysis has been used as a method in the paper while identifying the key themes in study and presented them separately. Only those articles have been included which have key words in abstract. The review has been done while using logical process to improve inter-rater reliability. The key databased have been used to cover articles from multiple and diverse domains. The authors studied the key themes of literature found and identified the gaps. The paper has also incorporated the comments of authors who conducted credible studies. Findings It has been found that there are different determinants which lead the companies to involve in CSR practices in developing and developed countries. It has also been found that consumers are more aware about CSR in developed countries which effects the CSR decisions by firms. There is lack of literature available in developing states and researchers have been focused to conduct studies mainly developed countries such as in Europe and USA. Mostly the CSR behavior of companies has been linked with their financial and reputational benefits in empirical studies. There is large gap in literature on CSR involvement in small companies. The authors have developed and presented model which provides comparison of determinants leading toward CSR involvement by companies in developed and developing countries. Another framework has been developed which summarized all the factors which force the company to take part in CSR activities. Practical implications The study has made significant contribution toward research field and summarized the determinants based on social and economic factors of countries. The study also presented the comparison between CSR in developing and developed country which is valuable contribution by the authors. The study has also found lack of progress in theory development in this area which needs further attention by researchers. The authors have developed a model and framework which will contribute in field of CSR. Originality/value This is the review paper which provides integrated view of literature regarding determinants, outcomes and disclosure of CSR in developing countries while using a comparative approach.


Author(s):  
María Soledad Martinez Pería ◽  
Sergio L. Schmukler

This chapter reviews recent evidence on the use of long-term finance in developing countries (relative to developed ones) to try to identify where short- and long-term financing occurs, and what role different financial intermediaries and markets play in extending this type of financing. Although banks are the most important providers of credit, they do not seem to offer long-term financing. In fact, loans in developing countries have significantly shorter maturities than those in developed countries. Capital markets have become increasingly sizable since the 1990s and can provide financing at fairly long terms. But just a few large firms use these markets. Only some institutional investors provide funding at long-term maturities. Incentives for asset managers are tilted toward the short term due to constant monitoring. Instead, asset-liability managers have a longer-term horizon, as foreign investors in developing countries do. Governments might help expand long-term financing, although with limited policy tools.


Author(s):  
Gautam Dutta ◽  
Abhishek Dutta

The developed country consumers actually build up three types of barriers while acknowledging inconspicuous automobile brands from developing countries which almost act linearly in three successive phases of brand cognition. These barriers create three types of quantifiable psychological distances. This article, in the backdrop of an Indian automobile brand's marketing endeavor in USA, details the underlying psychological reasons towards ignoring inconspicuous foreign brands of developing countries and quantifies psychological distances for the Indian automobile brand understudy. This article also shows a way to bring the theoretical understanding of COO based brand cognition process to a practical level which the marketing managers of developing countries can use while extending their brands to the developed country markets.


2015 ◽  
Vol 66 ◽  
pp. 10-28
Author(s):  
Jan Kregel

Finance in general, and banking in particular, are probably the only areas of the economic system where there is widespread agreement on the necessity of formal governance. Most governments reserve for themselves the right to issue debt in the form of coins and currency; in addition private providers of means of payment have failed so frequently to provide a safe and secure means of payment, with disastrous consequences for the operation of the real economy that governments have sought to regulate financial to prevent financial crisis. However, in an open global economy the regulations of national governments have little impact on the operation of global financial markets which are regulated by the governments of developed countries. Thus the regulations determined in developed country markets, in particular the US are of crucial importance to the governance of finance in developing countries. This paper considers the main innovations of developed country governance in the aftermath of the recent crisis, in p ticular capital requirements and macroprudential regulations and suggests that they are in fact not new regulatory provisions, but have been employed for some time with little succeeds and are thus not likely to shield developing countries for the financial instability caused by the failure of governance in developed country markets.Keywords: financial management, economic system, economic crisis, monetary policy, financial institution, regulation, governance


2021 ◽  
Author(s):  
Fakhri Fuad Murshudli ◽  
◽  
Roksolana Zapotichna ◽  

The article analyzes changes in the activities of transnational banks (TNBs) taking into account the consequences of the coronavirus pandemic. A review of modern literature on the subject under study was carried out. Given the importance of TNBs for many countries, understanding the scope and direction of current changes is of particular importance to the global economy. Over the past two decades, transnational banking has experienced the following trends: the transformation of credit strategies from aggressive to conservative; South-South banking growth; access to alternative sources of financing; a significant increase in the size of banks; expansion of Chinese banks; strengthening the position of fast-growing markets as home countries of TNBs and the growing importance of developing and emerging markets as host countries of TNBs; geographical differentiation and regionalization of their activities. The results of the study show that the above-mentioned trends are due to a decline in the economies of developed countries and an increase in the economic importance of developing countries. Based on this, we predict a low probability that developed country banks will be active creditors in the near future. Banks from developing countries (especially within their geographical region), whose financial position is much better, can be of great importance in this capacity. It is expected that 2020 will be the year of turning points in the development of transnational banking. A decade after the global economic crisis of 2008-2009, the banking industry faces a new problem that has undoubtedly affected almost every sector of the world economy - the outbreak of coronavirus. Given the lack of research on this topic, the article comprehensively examines the consequences of the crisis pandemic for TNBs.


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