INTERNATIONAL MACROECONOMIC ACTIVITY AND ITS INTERACTION: EVIDENCE FROM US, JAPAN, GERMANY, CHINA, INDIA AND RUSSIA

2020 ◽  
Vol 20 (02) ◽  
pp. 2050008
Author(s):  
SANJAY KUMAR ROUT ◽  
HRUSHIKESH MALLICK
Keyword(s):  
Emerging Economies ◽  
Principal Component ◽  
International Market ◽  
Domestic Economy ◽  
Economic Activities ◽  
Policy Action ◽  
Macroeconomic Variables ◽  
Cross Country ◽  
Macroeconomic Activity ◽  
The Empirical Analysis

Using the Diebold and Yilmaz (2012) spillover method, this study attempts to evaluate the strength and direction of cross-country interactions of macroeconomic activity across US, Japan, Germany, China, India and Russia. Apart from a base model, it frames two alternative models; one is based on principal component analysis (PCA) incorporating important macroeconomic variables from each country and another model is based on industrial production index; both evaluate the robustness of our empirical findings. It finds that 62% of variations in growth rates of all six countries are due to their mutual interdependence among them and it also reflects that the emerging economies like China and Russia take the lead in influencing foreign economic activities. It suggests that the concrete policy action is required to diversify the international market interdependency of a domestic economy as it may jeopardise the macroeconomic stability when uncertainty is generated in foreign economies. The empirical analysis is found to be robust.

scholarly journals Do Entrepreneurial Attitudes Explain the Rising International Business Orientation in Developing and Emerging Economies?

2019 ◽  
Vol 14 (2) ◽  
pp. 245-256
Author(s):  
Vogiatzoglou Klimis
Keyword(s):  
International Business ◽  
Emerging Economies ◽  
Adult Population ◽  
Global Entrepreneurship Monitor ◽  
Entrepreneurial Attitudes ◽  
Entrepreneurial Attitude ◽  
Cross Country ◽  
Economic Growth Rates ◽  
The Empirical Analysis ◽  
Business Orientation

Abstract This paper examines the characteristics that relate to a country’s entrepreneurial attitudes, perceptions, intentions, and aspirations for 17 developing and emerging economies during the 2002-2016 period. Many of those countries have recorded high economic growth rates and have increasingly become more outward-oriented in terms of both, exporting activities as well as direct investments abroad. The empirical analysis is based on survey data from the Adult Population Survey of the Global Entrepreneurship Monitor (GEM) project. We create an overall entrepreneurial attitude index (taking values between 0 and 100) from 6 underlying GEM entrepreneurial attitude indicators. In addition to examining relevant cross-country patterns and trends, a statistical analysis is conducted to test whether a more positive entrepreneurial attitude in a country is associated with a higher international business orientation. The findings indicate that there has been an increase in the overall entrepreneurial attitude index on average, but there are different trends among countries. Most importantly, the results show that improved entrepreneurial attitudes do not explain the increasing international business orientation that has been observed during the sample period. This suggests that in the developing and emerging economies under study other factors were strongly driving the expansion of international business activities.

scholarly journals Relationships of Resource Strategies, Family Composition, and Child Growth in Two Rural Timor-Leste Communities

2021 ◽  
Vol 10 (7) ◽  
pp. 273 ◽  
Author(s):  
Phoebe R. Spencer ◽  
Debra S. Judge
Keyword(s):  
Cultural Practices ◽  
Principal Component ◽  
Animal Husbandry ◽  
Child Growth ◽  
Household Composition ◽  
Large Animal ◽  
Family Composition ◽  
Economic Activities ◽  
Pension Income ◽  
Timor Leste

Subsistence and economic activities undertaken by households in the context of transition from subsistence farming to cash economies are sometimes seen as substitutable with only minimal reference to the households themselves. We use data from in-depth interviews of 190 householders in Ossu (mountains) and Natarbora (coastal plains), Timor-Leste, to query relationships of family composition, resource strategies, and their relationships to children’s growth. Principal component analyses of six household composition variables reveal “grandparent and fostered-in children”, “two generational households with numerous adults and children”, and “smaller households with few adults and fostered-out children”, explaining 72% of the variance. A similar procedure with 11 resource variables produced four components explaining 56% of resource variance. Households with grandparents have a pension income and engage in large animal husbandry, and are associated with better standardized BMI for resident children. Households with numerous members (but not grandparents) are more invested in subsistence gardening and are negatively associated with child stature. Salaried income is not associated with household composition, but children in these households are taller than their peers. Consistent differences between the two communities are partially a result of differences in socioecology, but there remain unexplained differences that may relate to cultural practices.

scholarly journals Scandinavian Approaches to Begging as a Policy Problem and the Double Insider/Outsider Status of Marginalized Intra-EU Migrants

2021 ◽  
pp. 1-18
Author(s):  
KARIN BOREVI
Keyword(s):  
Legal Status ◽  
Criminal Policy ◽  
Welfare States ◽  
Social Needs ◽  
Control Measures ◽  
Immigration Control ◽  
Eu Member States ◽  
Policy Problem ◽  
Cross Country ◽  
The Empirical Analysis

Abstract The present article investigates how begging performed by citizens of new EU-member states in Eastern Europe was debated in parliaments in Denmark, Sweden and Norway during the period 2007–2017. The empirical analysis shows significant cross-country divergences: In Denmark, efforts targeted controlling migration, either directly or indirectly, via various deterrence strategies. In Sweden, the emphasis was rather on alleviating social needs while migrants reside in the country and trying to decrease their incentives to migrate in the first place by ameliorating conditions in sending countries. In Norway, one predominant framing revolved around the issue of human trafficking of beggars. Despite substantial differences, the analyses show a gradual shift in a similar direction in all three countries. While a social frame was initially more commonly understood as the appropriate way to approach begging, over time a criminal frame has gained ground in all three countries. The article argues that this development must be understood in light of marginalized intra-EU migrants’ legal status as both insiders and outsiders in the Scandinavian welfare states. Due to these individuals’ “in-between status”, neither conventional social policy nor immigration control measures are perceived as available, making policymakers more prone to turn to criminal policy tools.

Institutions and development: the primacy of microanalysis

2011 ◽  
Vol 7 (4) ◽  
pp. 549-553 ◽  
Author(s):  
MWANGI S. KIMENYI
Keyword(s):  
Economic Development ◽  
Empirical Analysis ◽  
Institutional Arrangements ◽  
Development Theory ◽  
Policy Relevance ◽  
Microeconomic Analysis ◽  
Methodological Problems ◽  
Cross Country ◽  
Economic Development Theory ◽  
The Empirical Analysis

Abstract:In recent years, there have been major advances in the empirical analysis of the link between institutions and development. However, a number of methodological problems – both theoretical and empirical – remain unresolved and have been well articulated by Ha-Joon Chang in his article ‘Institutions and Economic Development: Theory, Policy and History’. These problems raise valid concerns about the policy relevance of the evidence arising from the studies. A more reliable approach to study the link between institutions and development and overcome the inherent problems of cross-country empirical analysis is to direct focus to microeconomic analysis of institutions. Such an approach avoids ideologically driven normative judgments about the superiority of particular institutional arrangements and also offers a more credible and tractable avenue to investigate institutional change.

Oil Price—Macroeconomy Causality: Evidence from Emerging Economies

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Emerging Economies ◽  
Oil Prices ◽  
Oil Price ◽  
China And India ◽  
Cross Country

This paper investigates whether changes in oil prices could explain cross-country variations in economic growth. The sample included WANA countries, China and India. The findings indicated bidirectional oil price-economy causality in the WANA region’s oil-exporting countries. In addition, a unidirectional causality running from changing oil prices to growth was found in the WANA region. However, there was no clear oil price-economy causal relationship for non-oil WANA countries, China and India. The study recommended diversification and fuel pricing reforms to create a robust fiscal balanced and sustained economic growth.

scholarly journals Impact of Project and Programme Aid on Economic Growth: A Cross Country Analysis

2018 ◽  
Vol 57 (2) ◽  
pp. 145-174
Author(s):  
Pervez Zamurrad Janjua ◽  
Malik Muhammad ◽  
Muhammad Usman
Keyword(s):  
Economic Growth ◽  
Principal Component ◽  
Economic Policies ◽  
Method Of Moment ◽  
System Equation ◽  
Moment Estimation ◽  
Country Analysis ◽  
Procurement Reform ◽  
Cross Country ◽  
The Impact

This study examines the impact of foreign aid instruments, namely Project Aid and Programme Aid, on economic growth of 27 aid-receiving countries. The study constructs a system of three equations, i.e. growth, investment and human capital. Using the Generalised Method of Moment estimation technique, the study concludes that while Project Aid has a positive and significant impact on economic growth, Programme Aid has an insignificant impact on economic growth. Additionally, the study finds that economic policies do enhance effectiveness of aid at aggregate level. Therefore, the capacity of aid-recipient countries to effectively use their resources for economic development needs due consideration. Keywords: Project Aid, Programme Aid, Economic Growth, Conditionality, Procurement Reform, System Equation Method, Generalised Method of Moment (GMM), Principal Component Analysis

scholarly journals Effect Of Macroeconomic Variables On Stock Market Returns For Four Emerging Economies: Brazil, Russia, India, And China

2011 ◽  
Vol 7 (3) ◽  
Author(s):  
Robert D. Gay, Jr.
Keyword(s):  
Stock Market ◽  
Emerging Economies ◽  
Stock Market Index ◽  
Market Returns ◽  
Stock Market Returns ◽  
Macroeconomic Variables ◽  
Share Prices ◽  
Market Index ◽  
The Relationship ◽  
India And China

The relationship between share prices and macroeconomic variables is well documented for the United States and other major economies. However, what is the relationship between share prices and economic activity in emerging economies? The goal of this study is to investigate the time-series relationship between stock market index prices and the macroeconomic variables of exchange rate and oil price for Brazil, Russia, India, and China (BRIC) using the Box-Jenkins ARIMA model. Although no significant relationship was found between respective exchange rate and oil price on the stock market index prices of either BRIC country, this may be due to the influence other domestic and international macroeconomic factors on stock market returns, warranting further research. Also, there was no significant relationship found between present and past stock market returns, suggesting the markets of Brazil, Russia, India, and China exhibit the weak-form of market efficiency.

Different people, different wishes? Can heterogeneity of the population cause more and different kinds of economic activities?

TERRITORIO ◽  
2009 ◽  
pp. 149-153
Author(s):  
Alei E. Brouwer
Keyword(s):  
Empirical Analysis ◽  
Urban Population ◽  
Religious Pluralism ◽  
Economic Structure ◽  
Religious Groups ◽  
New Paradigm ◽  
Economic Activities ◽  
The Creation ◽  
The Empirical Analysis ◽  
The Town

- The objective of the article is to empirically test the hypothesis that the heterogeneity of an urban population influences the creation and the development of the businesses and economic activities (‘organisational diversity') of a city. More specifically, the heterogeneity of a population is measured in terms of religious pluralism, while organisational heterogeneity concerns the different economic activities, both manufacturing and services, present in a city. The influence of religion on economic demand is based on the ‘new paradigm' (Christiano et al., 2002), according to which individuals who belong to different religious groups have different values with regard to education, social ambition and attitude to work. As a consequence, they tend to choose different professions and prefer different economic activities. The empirical analysis, which is conducted on the town of Zwolle in northern Holland in the period 1851-1914, tests the hypothesis and finds a real and significant impact of religious pluralism on the economic structure of the town.

Clusters Go Green

2013 ◽  
Vol 4 (1) ◽  
pp. 37-52 ◽  
Author(s):  
Barbara Da Ronch ◽  
Eleonora Di Maria ◽  
Stefano Micelli
Keyword(s):  
Environmental Sustainability ◽  
Industrial Ecology ◽  
Local Economic Development ◽  
Policy Implications ◽  
Industrial Districts ◽  
Economic Activities ◽  
Local Networks ◽  
Qualitative Case Studies ◽  
Evolutionary Paths ◽  
The Empirical Analysis

Literature on eco-parks and eco-clusters has emphasized the opportunities for the coupling of local economic development and sustainability, going beyond firms’ green strategies to include also supply chains and local networks of firms. Studies have described the conditions and policies for the development of new sustainable economic activities in specific areas based on the industrial ecology approach. In contrast, little attention has been given to analysing how existing industrial districts are facing the chances of the new competitive pressures related to sustainability. The paper investigates the drivers and the evolutionary paths of industrial districts towards environmental sustainability. The empirical analysis is based on qualitative case studies of two Italian industrial districts specializing in the production of leather (Arzignano) and tiles (Sassuolo). Managerial and policy implications are provided.

scholarly journals Efficiency of public-private co-regulation in the food sector: the French voluntary agreements for nutritional improvements

OCL ◽  
2019 ◽  
Vol 26 ◽  
pp. 34 ◽  
Author(s):  
Clementina Sebillotte
Keyword(s):  
Nutritional Quality ◽  
Public Support ◽  
Policy Instrument ◽  
Voluntary Agreements ◽  
Food Sector ◽  
Policy Action ◽  
Indicators Of Success ◽  
The Empirical Analysis ◽  
Interpretative Model

This article analyzes co-regulation as a policy instrument that makes it possible to achieve synergy between public support and private efforts in the food sector to improve the nutritional quality of the food offer. Our objective is to demonstrate the interest and the limits, as well as the conditions of the efficiency of this instrument, through the empirical analysis of the French voluntary agreements for nutritional improvements (charters) implemented in the framework of the French National Nutrition and Health Program (PNNS). We propose an interpretative model of the policy action on the nutritional quality of the food offer set out in the PNNS and we carry out new indicators of success to assess the efficiency of voluntary agreements in the food sector.

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