The Impact of Institutional Reforms on Characteristics and Survival of Foreign Subsidiaries in Emerging Economies*

2005 ◽  
Vol 42 (1) ◽  
pp. 35-62 ◽  
Author(s):  
Chris Changwha Chung ◽  
Paul W. Beamish
Keyword(s):  
Emerging Economies ◽  
Foreign Subsidiaries ◽  
Institutional Reforms ◽  
The Impact

scholarly journals Do Economic Policy Uncertainty and Geopolitical Risk Lead to Environmental Degradation? Evidence from Emerging Economies

2021 ◽  
Vol 13 (11) ◽  
pp. 5866
Author(s):  
Muhammad Khalid Anser ◽  
Qasim Raza Syed ◽  
Hooi Hooi Lean ◽  
Andrew Adewale Alola ◽  
Munir Ahmad
Keyword(s):  
Economic Policy ◽  
Renewable Energy ◽  
Environmental Degradation ◽  
Emerging Economies ◽  
Ecological Footprint ◽  
Policy Implications ◽  
Policy Uncertainty ◽  
Economic Policy Uncertainty ◽  
Integration Test ◽  
The Impact

Since the turn of twenty first century, economic policy uncertainty (EPU) and geopolitical risk (GPR) have escalated across the globe. These two factors have both economic and environmental impacts. However, there exists dearth of literature that expounds the impact of EPU and GPR on environmental degradation. This study, therefore, probes the impact of EPU and GPR on ecological footprint (proxy for environmental degradation) in selected emerging economies. Cross-sectional dependence test, slope heterogeneity test, Westerlund co-integration test, fully modified least ordinary least square estimator, dynamic OLS estimator, and augmented mean group estimator are employed to conduct the robust analyses. The findings reveal that EPU and non-renewable energy consumption escalate ecological footprint, whereas GPR and renewable energy plunge ecological footprint. In addition, findings from the causality test reveal both uni-directional and bi-directional causality between a few variables. Based on the findings, we deduce several policy implications to accomplish the sustainable development goals in emerging economies.

scholarly journals Institutional Reforms and Their Impact on Economic Growth and Investment in Developing Countries

2021 ◽  
Vol 13 (9) ◽  
pp. 4941
Author(s):  
Jin Zhao ◽  
Ghulam Rasool Madni ◽  
Muhammad Awais Anwar ◽  
Syeda Masooma Zahra
Keyword(s):  
Developing Countries ◽  
Economic Prosperity ◽  
Institutional Reforms ◽  
Difference In Differences ◽  
Human Interactions ◽  
Political Reforms ◽  
Vast Literature ◽  
Treatment Analysis ◽  
The Difference ◽  
The Impact

It is widely accepted that the economic and social system may be more efficient by reforming institutions. Institutional reforms are attempts to change the rules affecting human interactions and these reforms are fundamental for development and economic prosperity. The reforms can be divided into two categories; political and economic institutional reforms. It is need of the hour to determine the category of reform that is more suitable for developing countries. Moreover, a vast literature describes the impact of institutional reforms but little focused on exploring their impacts on macroeconomic activities. So, this study is an effort to determine the impact of institutional reforms on macroeconomic variables by considering the panel data of 122 developing countries covering the time span from 1996 to 2019. The study applied treatment analysis using the difference-in-differences technique to gauge the effects of reforms. Besides, it will be interesting to know the causes triggering the institutional reforms in developing countries. The findings of the study reveal that economic reforms are more important as compared with political reforms to grow the economies. The countries focusing on political reforms are not able to overcome the economic crisis. Moreover, both types of reforms do not cause each other in these countries.

Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan

2021 ◽  
pp. 097135572098143
Author(s):  
Aizhan Tleuberdinova ◽  
Zhanat Shayekina ◽  
Dinara Salauatova ◽  
Stephen Pratt
Keyword(s):  
Economic Development ◽  
Emerging Economies ◽  
Negative Relationship ◽  
National Income ◽  
Tourism Development ◽  
Entrepreneurial Activity ◽  
Macroeconomic Factors ◽  
Distributed Lag ◽  
Tourism Sector ◽  
The Impact

Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.

scholarly journals Interlinkages between Urbanization and Climate Change: Identifying and Understanding the Challenges and the Prospects

2020 ◽  
Vol 31 (3) ◽  
pp. 285-300
Author(s):  
Abhinav Alakshendra ◽  
Arjun Kumar ◽  
Simi Mehta
Keyword(s):  
Climate Change ◽  
Urban Governance ◽  
Institutional Reforms ◽  
Rapid Urbanization ◽  
Role Of Government ◽  
Government Organizations ◽  
Urban Service ◽  
The Government ◽  
The Impact

India is urbanizing at an alarming rate and the impact of climate change is becoming more visible each passing day. The rapid urbanization and climate change have severe direct and indirect consequences, such as increasing poverty, inequality, massive displacement, public health concerns, and challenges of urban governance, among others. This paper identifies some of the most pressing issues faced by urban India in the context of climate change. It also details the interventions undertaken at the local, national, and international levels to counter the effect of the climate change. In addition, it critically evaluates the role of government organizations, especially in terms of undertaking regulatory and planning functions. The paper argues that the implementation of institutional reforms would enable the government to reach out to the private sector to improve urban service delivery. It also provides examples of best practices from India and the world in combating climate change through adaptation and mitigation approaches.Abstrak. India mengalami urbanisasi pada tingkat yang mengkhawatirkan dan dampak perubahan iklim menjadi terlihat setiap hari. Urbanisasi yang cepat dan perubahan iklim memiliki konsekuensi langsung dan tidak langsung yang parah, seperti antara lain meningkatnya kemiskinan, ketimpangan, pengungsian besar-besaran, masalah kesehatan masyarakat, dan tantangan tata kelola kota. Makalah ini mengidentifikasi beberapa masalah paling mendesak yang dihadapi oleh perkotaan India dalam konteks perubahan iklim. Makalah ini juga merinci intervensi yang dilakukan di tingkat lokal, nasional, dan internasional untuk melawan dampak perubahan iklim. Selain itu, secara kritis makalah ini mengevaluasi peran organisasi pemerintah, terutama dalam menjalankan fungsi pengaturan dan perencanaan. Makalah ini berpendapat bahwa pelaksanaan reformasi kelembagaan akan memungkinkan pemerintah menjangkau sektor swasta untuk membantu meningkatkan pelayanan perkotaan. Makalah ini juga memberikan contoh praktik terbaik dari India dan dunia dalam memerangi perubahan iklim melalui pendekatan adaptasi dan mitigasi.Kata kunci. Urbanisasi, perubahan iklim, keterkaitan, tata kelola kota, mitigasi.

scholarly journals Understanding the impact of the COVID-19 outbreak on vulnerable populations in Malaysia through an ethical lens: A study of non-state actors involved in aid distribution

2022 ◽  
Vol 6 ◽  
pp. 263
Author(s):  
Melati Nungsari ◽  
Chuah Hui Yin ◽  
Nicole Fong ◽  
Veena Pillai
Keyword(s):  
Vulnerable Populations ◽  
Ethical Issues ◽  
High Morbidity ◽  
Ethical Challenges ◽  
Institutional Reforms ◽  
Ethical Practices ◽  
Scarce Resources ◽  
Containment Measures ◽  
Vulnerable Households ◽  
The Impact

Background: Globally, vulnerable populations have been disproportionately affected by the COVID-19 pandemic and subsequent responses, such as lockdown measures and mass vaccinations. Numerous ethical challenges have arisen at different levels, be it at the policy-making level or on the ground. For example, policymakers have to contain a highly contagious disease with high morbidity using scarce resources, while minimizing the medium- to long-term social and economic impacts induced by containment measures. This study explores the impact of COVID-19 on vulnerable populations in Malaysia by using an intersectional framework that accounts for overlapping forms of marginalization.   Methods: This study utilizes in-depth qualitative data obtained from 34 individuals and organizations to understand the impact of the COVID-19 outbreak on vulnerable populations in Malaysia. We utilize four principles of ethics to guide our coding and interpretation of the data – namely beneficence, non-maleficence, justice and autonomy. We utilize a frequency analysis to roughly understand the types of ethical issues that emerged. Using hermeneutic content analysis (HCA), we then explore how the principles interact with each other. Results: Through the frequently analysis, we found that although beneficence was very prevalent in our dataset, so was a significant amount of harm – as perpetuated through injustice, the removal or lack of autonomy and maleficence. We also unearthed a worrying landscape of harm and deep systemic issues associated with a lack of support for vulnerable households – further exacerbated during the pandemic. Conclusions: Policy recommendations for aid organizations and society to mitigate these ethical problems are presented, such as long overdue institutional reforms and stronger ethical practices rooted in human rights principles, which government agencies and aid providers can then use in the provision of aid to vulnerable populations.

The impact of within-country and within-firm factors on Japanese foreign subsidiary performance during economic crisis

2017 ◽  
Vol 9 (3) ◽  
pp. 190-205 ◽  
Author(s):  
Matheus Baldo Cordeiro ◽  
Mario Henrique Ogasavara ◽  
Gilmar Masiero
Keyword(s):  
Economic Crisis ◽  
Fixed Effects ◽  
Multinational Firms ◽  
Negative Impact ◽  
Foreign Subsidiaries ◽  
Productivity Measurement ◽  
Subsidiary Performance ◽  
Content Type ◽  
Subsidiary Management ◽  
The Impact

Purpose The purpose of this paper is to analyze the relevant aspects that influence foreign subsidiary’s performance and remain how they retain competitiveness in international markets during economic crisis. To investigate this effect, this research analyzes the behavior of Japanese subsidiaries located in European countries during the pre- and post-crisis periods that started in the USA in 2008 and spread all over the world. Design/methodology/approach This is a quantitative study with an analysis based on longitudinal data of foreign subsidiaries of Japanese multinational firms during the period 2006-2013. It applies a multiple linear regression with panel data using fixed effects models. Findings The findings show that within-firm factors related to local experiential knowledge, market entry through joint ventures with partners from the same nationality, and subsidiary management with a team of expatriates all have a positive impact on subsidiary performance during times of economic crisis. Moreover, within-country factors involving macroeconomic aspects related to inflation rate and population income indicators show a negative impact on performance. Finally, the results confirm that subsidiary performance is higher in the pre-crisis period, showing the importance of considering economic crisis aspects in longitudinal studies. Practical implications The result has implications for managers of multinational firms to understand which factors most impact the success of their foreign subsidiaries during times of economic crisis. In this way, managers can, with greater confidence, decide to reach the most important performance indicator in subsidiary management. Originality/value The majority of studies on economic crisis is based on an economic perspective and mostly investigates Asian and Argentinean crises. When considering a firm-level perspective, most research studies conducted on a subsidiary level are cross-sectional or use survival as a measure of performance. This paper applies a longitudinal study using subsidiary-level data and analyzes performance by sales and productivity measurement. In addition, it investigates whether or not within-country and within-firm factors impacted subsidiary performance during the 2008 economic crisis.

Corruption Scandals, the Evolution of Anti-Corruption Institutions, and Their Impact on Brazil’s Economy

2018 ◽  
Author(s):  
Mariana Mota Prado ◽  
Lindsey Carson
Keyword(s):  
Institutional Change ◽  
Economic Performance ◽  
Window Of Opportunity ◽  
Institutional Reforms ◽  
Government Reforms ◽  
The Impact

This chapter considers corruption in the Brazilian context and the impact this may have had on economic performance. It is first suggested that a corruption scandal can create a window of opportunity for reforms, such that a government’s action or inaction in the aftermath of a scandal may signify its commitment to institutional change. The chapter assesses the impacts of past scandals and responsive institutional reforms on perceptions of corruption. Finally, the chapter considers how foreign and domestic investors may react to government reforms, as well as perception-based indicators of corruption. It is argued that some corruption scandals have had significant impact on institutional reforms and corruption indicators in Brazil.

Luxury in China

2021 ◽  
Author(s):  
Qing Wang
Keyword(s):  
Emerging Economies ◽  
Chinese Culture ◽  
Luxury Brands ◽  
Cultural Narratives ◽  
Luxury Consumption ◽  
Major Market ◽  
Global Pandemic ◽  
Depth Analysis ◽  
Different Cultures ◽  
The Impact

Luxury brands embody strong cultural narratives to express their authentic value and to make them more desirable. With globalisation and the democratisation of luxury, the nature of luxury consumption is changing. Emerging economies such as China have become not only the major market but a source of design inspiration for luxury brands. This chapter provides a systematic review of luxury brands in China in three distinct stages, followed by an in-depth analysis of the nature of luxury consumption in China and the transportation mechanism of brand narratives to different cultures. It concludes with several important findings and indicates that good storytelling provides an anchor for a brand’s esteem both at home and abroad. Instead of merely communicating the cultural narratives of their Western origin, luxury brands need to identify with Chinese culture in all elements of their business, from product design to brand communication. Finally, this chapter explores the impact of the global pandemic on luxury brands in China.

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