The Future of Stock Exchanges in Emerging Economies: Evolution and Prospects

2002 ◽  
Vol 2002 (1) ◽  
pp. 167-212 ◽  
Author(s):  
Stijn Claessens ◽  
Daniela Klingebiel ◽  
Sergio L. Schmukler
Author(s):  
Mukund Deshpande

SMEs contribute up to 60% of total employment and up to 40% of GDP in emerging economies. These SMEs recently faced, due to COVID-19 pandemic, chaotic circumstances resulting in business shut down, loss of man-hours, halt of machinery and material movement by which they lost their economy. Quick solutions to address the challenges were out of view. Moreover, making major changes swiftly in the set business system was impractical and probably impossible. Getting normalcy back on track delayed extensively owing to the unavailability of vaccines. Ignorance in terms of the remedy made the businesspersons helpless to bear with the situation. Literature exposed that the pandemic situation paralyzed the business functions entirely. Obviously, to safeguard the SMEs from such incidences in the future, this study became essential in understanding remedial, innovative, and sustainable strategies.


Author(s):  
Luisa Fernanda Echeverría King ◽  
Diana Alejandra González ◽  
Ernesto Andrade-Sastoque

Little has been investigated about Science Diplomacy (SD) in emerging economies, more specifically on governance schemes useful for organizing intersecting actors, practices, conceptions and suggestions of the future in foreign affairs and Science, Technology and Innovation (STI) in public administration sectors. This paper contributes to a better understanding of the “texture and nature” of SD initiatives in emerging economies through the eyes of relevant actors involved or reflecting about them in Colombia. The aim of this paper is to propose a general governance scheme for SD in emerging economies and its potential instrumentation for a policy-mix. In Colombia, SD initiatives are very fragmented, and are not part of the priorities of the Colombian state, however the increasing interest of an embryonic practitioner and scholar community working in the topic make necessary this work. A phenomenological perspective combined with a single case study research methodology is used to gain a very accurate description of the state of the situation of SD in Colombia. Policy document review and semi-structured interviews were conducted with 18 relevant actors to understand the conceptions, practices, and suggestions for the future of SD in Colombia. The study results show that SD actors in Colombia are scattered, practices strongly related to traditional cooperation diplomatic activities and the need to give a function to SD for capacity building, better global intermediation and the development of new knowledge, in particular promoting SD abilities in the scientific community. In addition, data expresses the need to cultivate a multi-stakeholder working group for such a purpose. The study reflects on the need of a policy mix for SD in emerging economies. It proposes a general governance scheme for it, a potential instrumentation founded on research participant future suggestions, and a set of practical recommendations and policy implications. Conclusions and further research questions are set, pointing out the importance of including non-conventional diplomacy actors and knowledge, and the need to inquire rationales behind possible SD policy mixes in the southern world.


Author(s):  
Abel Duarte Alonso ◽  
Seng Kiat Kok

In exploring three wine regions located in emerging economies through the lens of the dynamic capabilities framework, this study contributes theoretically and empirically to the wine tourism and wine entrepreneurship literature. Unstructured, face-to-face interviews conducted among 32 Argentinian and Chilean wineries revealed the effects of and the potential to be gained from infrastructure, socioeconomic, and visitor demographic changes. Moreover, sensing and seizing upon potential opportunities was strongly associated with the above changes. More importantly, preparing for the future through reconfiguration or continuous renewal was illustrated, for instance, through a desire for highly personalised winery experiences. With the increasing globalisation of the wine industry and resulting wine tourism alternatives/substitutes, developing dynamic capabilities becomes crucial for the sustainability of wineries and wine regions. A proposed model based on the research enables understanding and appreciating opportunities and challenges in a dynamic wine tourism environment.


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