Reassessing Comparative Advantage: The Impact of Capital Flows on the Argument for Laissez-Faire

1995 ◽  
Vol 29 (2) ◽  
pp. 427-433 ◽  
Author(s):  
Robert E. Prasch
Keyword(s):  
Comparative Advantage ◽  
Capital Flows ◽  
Laissez Faire ◽  
The Impact

Reform, corruption, and growth: Why corruption is more devastating in Russia than in China

2006 ◽  
Vol 39 (2) ◽  
pp. 265-281 ◽  
Author(s):  
Tomas Larsson
Keyword(s):  
Economic Growth ◽  
Comparative Advantage ◽  
Economic Performance ◽  
Political Corruption ◽  
Common Assumption ◽  
Rapid Economic Growth ◽  
The Common ◽  
The Impact ◽  
Intervening Factors

This article explains why massive political corruption appears to be incompatible with economic growth in Russia but compatible with very rapid economic growth in China. The common assumption is that corruption is bad for economic performance. So how can we explain the puzzling contrast between Russia and China? Is Russia being more severely “punished” for its corruption than China? If so, why? This article demonstrates that three intervening factors—comparative advantage, the organization of corruption, and the nature of rents—determines the impact of corruption on economic performance, and that these factors can explain the divergent outcomes. The article thereby offers an alternative to statist explanations of the Russia-China paradox.

scholarly journals Impact of Authoritative and Laissez-Faire Leadership on Thriving at Work: The Moderating Role of Conscientiousness

2021 ◽  
Vol 11 (3) ◽  
pp. 667-685
Author(s):  
Zulfiqar Ahmed Iqbal ◽  
Ghulam Abid ◽  
Muhammad Arshad ◽  
Fouzia Ashfaq ◽  
Muhammad Ahsan Athar ◽  
...  
Keyword(s):  
Leadership Style ◽  
Positive Impact ◽  
Work Relationship ◽  
Laissez Faire ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role ◽  
Thriving At Work

This study empirically investigates the less discussed catalytic effect of personality in the relationship of leadership style and employee thriving at work. The growth and sustainability of the organization is linked with the association of leadership style and employee thriving at the worplace. The objectives of this study are to explore the impact of authoritative and laissez-faire leadership styles and the moderating role of the personality trait of conscientiousness on thriving in the workplace. A sample of 312 participants was taken from a leading school system with its branches in Lahore and Islamabad, Pakistan. The participants either worked as managers, teachers in headquarters, or school campuses, respectively. The regression results of the study show that authoritative leadership and conscientiousness have a significantly positive impact on thriving at work. Furthermore, conscientiousness moderates the relationship between laissez-faire style of leadership and thriving at work relationship. The findings of this study have theoretical implications for authoritative and laissez-faire leadership, employee conscientiousness, and managerial applications for the practitioners.

Critical Analysis on the Comparative Advantage of Presidentialism over Parliamentary System on Liberty and National Unity in Ethiopia

2021 ◽  
pp. 1-17
Author(s):  
Sisay A. Temesgen
Keyword(s):  
Comparative Advantage ◽  
Democratic Republic ◽  
Separation Of Powers ◽  
National Unity ◽  
Checks And Balances ◽  
Parliamentary System ◽  
The Government ◽  
Executive Organ ◽  
Council Of Ministers ◽  
The Impact

Abstract The Ethiopian Federal Democratic Republic (EFDR) Constitution is promulgated in 1994. Under Article (45) of the EFDR the country is restructured from presidential to parliamentary system of government. Since then, the country has been ravaged by the gross violation of the liberty of citizens and the crisis of national unity and consensus among the diversified ethnic groups. The impact of the parliamentary system in aggravating those critical challenges and the comparative advantage of presidantialism is the most ignored political research topic. In this Article, I investigated that the blurry separation of powers of the parliamentary structure of the country has created fusion of powers which has undermined the system of checks and balances. Thus, the executive organ of the government has enabled to concentrate unchecked and unaccountable power which has manifested in the gross violation of the liberty of citizens. Likewise, Article (73) of EFDR has declared that the prime minister and council of ministers of the country to be appointed by the legislators. This has deprived their boarder popular base and authenticity; and equivocally undermined their potency and decisiveness in addressing the existing crisis of national unity and consensus. Comparatively, the presidential structure of government is defined by the firm separation of powers and genuine system of checks and balances. The direct popular election of the president enables the president and council of ministers to secure broader popular base and authenticity. Thus, it is advantageous over parliamentarian structure in terms of protecting the liberty of citizens and addressing the crisis of national unity and consensus in Ethiopia.

scholarly journals Foreign capital flows, exports and growth in Zambia

2015 ◽  
Vol 5 (4) ◽  
pp. 26-37
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Capital Flows ◽  
Foreign Capital ◽  
Growth Enhancement ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Foreign Capital Flows ◽  
Causality Relationship ◽  
The Impact

This study investigates the causality between FDI net inflows, exports and GDP using Vector Error Correction Model (VECM) approach. The words foreign capital flows and FDI are used interchangeably in this study. The findings from the VECM estimation technique is six fold: (1) the study revealed a long run causality relationship running from exports and GDP towards FDI, (2) the study showed a non–significant long run causality relationship running from FDI and exports towards GDP and (3) the existence of a weak long run causality relationship running from FDI and GDP towards exports in Zambia. The study also found out that no short run causality relationship that runs from FDI and exports towards GDP, short run causality running from FDI and GDP towards exports does not exist and there is no short run causality relationship running from exports and GDP towards FDI. Contrary to the theory which says that FDI brings along with it a whole lot of advantages (FDI technological diffusion and spill over effects), the current study found that the impact of FDI in Zambia is not significant in the long run. This is possibly because certain host country locational characteristics that ensures that Zambia can benefit from FDI inflows are not in place or they might be in place but still not yet reached a certain minimum threshold levels. This might be an interesting area for further research. On the backdrop of the findings of this study, the author recommends that the Zambian authorities should formulate and implement export promotion strategies and economic growth enhancement initiatives in order to be able to attract more FDI.

scholarly journals Impact of the Memory of Kurofune (Black Ships) on the Course of Industrialization in Early Meiji Japan

2020 ◽  
Author(s):  
Naoki Odanaka
Keyword(s):  
Economic Policy ◽  
Collective Memory ◽  
Comparative Advantage ◽  
United States Navy ◽  
The United States ◽  
Analytical Tool ◽  
Meiji Japan ◽  
Meiji Restoration ◽  
David Ricardo ◽  
The Impact

This paper analyzes the impact and influence of the memory of kurofune (black ships), iron-armored battleships of the United States Navy led by Commodore Matthew Perry (1794-1858) that came to Japan in 1853, exerted over the course of industrialization in early Meiji Japan, which is the period from the Meiji Restoration (1868) to the Sino-Japanese war (1894-5). Using the comparative advantage theory formalized by David Ricardo (1772-1823) as an analytical tool, we consider the arguments of major contemporary Japanese policymakers as the object of analysis. We have three conclusions. First, the economic policy adopted by early Meiji policymakers generally followed the comparative advantage theory. Second, their goal was not the monoculturization of the comparative advantage goods, but the heavy industrialization necessary for avoiding the colonization: export of comparative advantage goods was a means to collect money for it. Third, they regarded the development of transportation-related industries as important because it would hasten the “movement” of men and goods, which would lead to the increased wealth and which was symbolized by the kurofune in the collective memory.

scholarly journals Study on the Impact of Production Agglomeration of China’s Aquatic Products on Export Competitiveness

2021 ◽  
Vol 251 ◽  
pp. 01102
Author(s):  
Weiwei Fu ◽  
Peifen Zhuang
Keyword(s):  
Comparative Advantage ◽  
Fixed Effects ◽  
Revealed Comparative Advantage ◽  
Aquatic Products ◽  
Export Competitiveness ◽  
Production Concentration ◽  
The Impact ◽  
The Relationship

This paper collects the data of China’s aquatic products from 2002 to 2018 and studies the relationship between the production agglomeration and export competitiveness of aquatic products. This paper calculates the production Concentration Rate (CR) which reflects the degree of agglomeration of aquatic products and the Revealed Comparative Advantage (RCA) index which reflects the export competitiveness of aquatic products, and then uses variable intercept model with fixed effects to empirically analyze the impact of production agglomeration of three main aquatic products (fish, crustacean and shellfish) on the export competitiveness. The results show that there is an obvious phenomenon of production agglomeration of aquatic products in China. Overall, the improvement of production agglomeration of aquatic products is conducive to the promotion of export competitiveness.

scholarly journals Spillover Effect of Global Financial Cycle To Asset Markets in Asean-5 Countries: A Structural VAR Approach

2018 ◽  
Vol 2 (02) ◽  
pp. 1
Author(s):  
Sri Andaiyani ◽  
Telisa Aulia Falianty
Keyword(s):  
Risk Aversion ◽  
Capital Flows ◽  
Asset Prices ◽  
Emerging Market ◽  
Structural Var ◽  
Asset Markets ◽  
Equity Prices ◽  
Financial Cycle ◽  
Property Prices ◽  
The Impact

<p><em>An upsurge and volatility of capital flows to Emerging Asian Economies indicated that there is the potential effect of global financial cycle to emerging market. It provides an overview of investor risk aversion in short term investment after financial crisis 2008. Global financial cycle could have a significant impact to asset prices, including equity prices and property prices. Rey (2015) has triggered an interesting discussion about global financial cycle. She found that there was a global financial cycle in capital flows, asset prices and credit growth. This cycle was co</em><em>‐</em><em>moves with the VIX, a measure of uncertainty and risk aversion of the markets. Therefore, this study attempts to analyze empirically global financial cycle shocks, measured by the VIX, on equity prices and property prices in ASEAN-5, namely Indonesia, Malaysia, Singapore, Thailand and Philippines. We estimate quarterly frequency data from Q1 1990 to Q2 2016 with Structural Vector Autoregressive (SVAR) approach. The result of this study showed that global financial cycle has a negative significant impact on the ASEAN-5 asset markets, in spite of the response of shock differs by country and size. This result is consistent with ASEAN-5 as small open economies that remain vulnerable to the global factor. This study contributes to the literature in several ways. First, we identify not only cyclical expansions or contraction in asset markets but also the impact of global financial cycle to asset markets in ASEAN-5 countries. Second, we investigate whether there are heterogeneous responses of ASEAN-5 countries to global financial cycle shocks. Third, we also identify the pattern of cycle in ASEAN-5 countries</em>.</p><p><strong><em>J</em></strong><strong><em>EL Classification: </em></strong>F30, F37, F42</p><strong><em>Keywords: </em></strong><em>ASEAN, Asset Markets, Global Financial Cycle, SVAR</em>

Sign in / Sign up

Export Citation Format

Share Document