Does Mandatory Adoption of IFRS Have Similar Economic Consequences across Country Classification? A Cross-Sample Comparison of Developed Versus Developing Countries

2019 ◽  
Author(s):  
Solomon George Zori
Keyword(s):  
Developing Countries ◽  
Economic Consequences ◽  
Mandatory Adoption

scholarly journals IFRS Adoption in Developing Countries: What Is the Impact?

2018 ◽  
Vol 8 (2) ◽  
pp. 278
Author(s):  
Chris D. Gingrich ◽  
Leah Kratz ◽  
Ryan Faraci
Keyword(s):  
Developing Countries ◽  
Financial Reporting ◽  
Business Leaders ◽  
Global Competitiveness ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Accounting Environment ◽  
Mandatory Adoption ◽  
The Impact ◽  
Financial Environment

This study explores the impact of mandatory adoption of the International Financial Reporting Standards (IFRS) in developing countries on business leaders’ perceptions of the overall accounting and financial environment. The study employs survey data from the World Economic Forum’s Global Competitiveness Report to gauge business leaders’ perceptions of the accounting and financial environment. Eight countries across Latin America, Africa, and Asia comprise case studies, all of whom recently adopted mandatory IFRS use for publicly listed companies. Each survey variable is tracked over time, comparing pre and post IFRS adoption, vis-à-vis the same variable in a control country that did not adopt IFRS. IFRS adoption shows mostly positive impacts on the accounting environment in four cases. The impact of adoption in the other three countries is mostly insignificant. These results should encourage policymakers in developing countries to improve auditing and enforcement practices to increase the likelihood of positive results from IFRS adoption.

scholarly journals "CHINESE MIRACLE" AND PROBLEMS OF ACCELERATED ECONOMIC DEVELOPMENT

2019 ◽  
pp. 26-30
Author(s):  
Yongyou Nie ◽  
V. A. Kartavtsev
Keyword(s):  
Developing Countries ◽  
Rapid Growth ◽  
Well Being ◽  
Economic Consequences ◽  
People’S Republic Of China ◽  
Reform Process ◽  
People's Republic Of China ◽  
Republic Of China ◽  
Legislative Framework ◽  
The Government

This article is devoted to the study of the results of rapid economic growth on the example of the People's Republic of China. Forty years have passed since the beginning of the openness reforms in China. They are characterized by the rapid growth of China's economic power, the improvement of the well-being of the inhabitants of that country, as well as the strengthening of the state's place in the international arena. With the support of foreign investment in the early stages, China itself becomes an investor. Techno-intensive industries hold an important share of China's exports. Despite the rapid growth of economic indicators, China is facing new challenges for developing countries. The accelerated development of the state has serious environmental, political and economic consequences, from pollution to corruption and the lag of certain regions from the overall pace of the country's development. These problems are expected to be addressed through a number of measures taken by the Government in the coming decades: investment market reforms, reorientation of international trade to developing countries, green economies, market reform real estate, addition to the legislative framework, the creation of new controls and reform of existing ones and so on. The reform process is inevitable and is the key to the successful development of the People's Republic of China.

OPEC: Still an ‘Instrument of Change’?

2020 ◽  
Vol 13 (4) ◽  
pp. 343-352
Author(s):  
John Gault ◽  
Nordine Ait-Laoussine
Keyword(s):  
International Economic ◽  
Developing Countries ◽  
International Economic Order ◽  
Economic Consequences ◽  
Leadership Role ◽  
Global Changes ◽  
60Th Anniversary ◽  
Oil Market ◽  
Market Management ◽  
20Th Anniversary

Abstract The Organization of Petroleum Exporting Countries (OPEC) marks its 60th anniversary in 2020. At the time of OPEC’s 20th anniversary in 1980, the organization could celebrate its role as an “instrument of change” that promoted not only members’ interests but also the interests of broad constituencies, including especially developing countries. OPEC and its members had demonstrated how to overcome the negative economic consequences of colonialism, and sought to extend their success to others through the New International Economic Order adopted by the United Nations in 1974. But from the late 1970s onward, the Organization became focused on internal issues of oil market management and, despite its noble expressions and intentions, was unable to bring about the global changes it sought. Today, on OPEC’s 60th anniversary, the central challenge is no longer how to overcome the colonial economic legacy. Instead, the organization has an opportunity to resume its leadership role by adopting policies that defend not only its own members but also broad constituencies—and especially developing countries—against the consequences of global warming. This article suggests how OPEC could rise to the occasion.

Adoption of and compliance with IFRS in developing countries

2016 ◽  
Vol 6 (1) ◽  
pp. 33-49 ◽  
Author(s):  
Khaled Samaha ◽  
Hichem Khlif
Keyword(s):  
Developing Countries ◽  
Empirical Studies ◽  
Developed Countries ◽  
Equity Capital ◽  
Economic Consequences ◽  
Future Research ◽  
Cost Of Equity Capital ◽  
Content Type ◽  
Ifrs Adoption ◽  
The Impact

Purpose – The purpose of this paper is to review a synthesis of theories and empirical studies dealing with the adoption of and compliance with IFRS in developing countries in an attempt to provide directions for future research. Design/methodology/approach – The review focusses on four main streams including: first, the motives for IFRS adoption; second, corporate characteristics and the degree of compliance with IFRS; third, the economic consequences of IFRS adoption and finally; fourth, the use of regulation as an enforcement mechanism to monitor compliance with IFRS. The authors review empirical studies specifically devoted to developing countries. Findings – Regarding the first stream relating to IFRS adoption, the macroeconomic decision of adopting IFRS in developing countries can be justified by two main theories which are: the economic theory of network (Katz and Shapiro, 1985) and isomorphism (DiMaggio and Powell, 1991), however, empirical evidence in developing countries to confirm these theories is limited. Regarding the second stream relating to corporate characteristics and the degree of compliance with IFRS, the authors find that the results are mixed. Regarding the third stream relating to the economic consequences of IFRS adoption, it seems that the evidence is still limited in developing countries especially with respect to the impact of IFRS adoption on foreign direct investment, cost of equity capital and earnings management. Regarding the fourth and final stream in relation to regulation, enforcement and compliance with IFRS, the authors find that research is very limited. It was evidenced in the very few research studies conducted, that global disclosure standards are optimal only if compliance is monitored and enforced by efficient institutions. Practical implications – The author’s study attempts to provide a foundational knowledge resource that will inform practitioners, researchers and regulators in developing countries about the relevance of the different theories that exist in the accounting literature to explain the adoption of and compliance with IFRS. Originality/value – Compared to developed countries, the four streams outlined remain under-researched in developing countries. Therefore, researchers should examine these topics in developing countries to inform practitioners, regulators and the capital market about the effects of adopting IFRS and their relevance to developing countries. In addition, researchers should embark on identifying new theories to explain the adoption of and compliance with IFRS in developing countries that take into consideration the socioeconomic culture of these settings.

scholarly journals HAS COUNTRYWIDE LOCKDOWN WORKED AS A FEASIBLE MEASURE IN BENDING THE COVID-19 CURVE IN DEVELOPING COUNTRIES?

2020 ◽  
Author(s):  
Khondoker Nazmoon Nabi ◽  
Md. Robiul Islam
Keyword(s):  
South Africa ◽  
Developing Countries ◽  
Reproduction Number ◽  
Disease Outbreaks ◽  
Economic Consequences ◽  
Effective Vaccine ◽  
Compelling Evidence ◽  
Epidemic Threshold ◽  
Novel Coronavirus ◽  
Epidemiological Parameters

AbstractIn the absence of any effective vaccine and clinically proven treatment, experts thought that strict lockdown measures could be an effective way to slow down the spread of novel coronavirus. Despite the strict lockdown measures in several developing countries, the number of newly infected cases is getting unbridled as time progresses. This anomaly ignites questions about the effectiveness of the prolonged strict confinement measures. In light of the above view, with an aim to find the answer to this question, trends of four epidemiological parameters: growth factor of daily reported COVID-19 cases, daily incidence proportion, daily cumulative index and effective reproduction number in five developing countries named Bangladesh, Brazil, Chile, Pakistan and South Africa have been analysed meticulously considering the different phases of their national lockdowns. Any compelling evidence has not been found in favor of countrywide lockdown effectiveness in the above-mentioned countries. Numerical results illustrate that stringent nationwide lockdown measures have failed bringing the epidemic threshold (Re) of COVID-19 under unity. In addition, citizens of the aforementioned countries have been struggling with catastrophic socio-economic consequences due to prolonged confinement measures. Our study suggests that a new policy should be proposed for developing countries to battle against future disease outbreaks ensuring a perfect balance between saving lives and confirming livelihoods.

scholarly journals This Changes Everything

2020 ◽  
Vol 20 (79) ◽  
Author(s):  
Serhan Cevik ◽  
João Tovar Jalles
Keyword(s):  
Climate Change ◽  
Developing Countries ◽  
Global Economy ◽  
Statistical Significance ◽  
Large Body ◽  
Economic Consequences ◽  
Sovereign Risk ◽  
Bond Yields ◽  
The Cost ◽  
The Impact

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change vulnerability and resilience on sovereign bond yields and spreads in 98 advanced and developing countries over the period 1995–2017. We find that the vulnerability and resilience to climate change have a significant impact on the cost government borrowing, after controlling for conventional determinants of sovereign risk. That is, countries that are more resilient to climate change have lower bond yields and spreads relative to countries with greater vulnerability to risks associated with climate change. Furthermore, partitioning the sample into country groups reveals that the magnitude and statistical significance of these effects are much greater in developing countries with weaker capacity to adapt to and mitigate the consequences of climate change.

CORONA VIRUS IN DEVELOPING COUNTRIES

2021 ◽  
Vol 2 (1(82)) ◽  
pp. 23-25
Author(s):  
A. Alsabunchi ◽  
O. Alsabunchi
Keyword(s):  
Developing Countries ◽  
World Health Organization ◽  
Developing Country ◽  
Economic Consequences ◽  
World Health ◽  
Health Crisis ◽  
Scarce Resources ◽  
Corona Virus ◽  
The World ◽  
Health Organization

Developing countries now account for three-quarters of the 100,000 daily new coronavirus cases that authorities around the world are reporting. The steady rise is alarming, according to the World Health Organization, as many epidemiologists say they think the figures are being underreported. While the numbers are increasing, governments in developing countries say they have had little choice but to relax what restrictions they put in place because otherwise they would face financial ruin. India lifted its lockdown the same day it saw a record rise in infections. At a time when developing country government budgets are under pressure to deal with the health crisis and its economic consequences, debt payments could be a serious diversion of scarce resources.

scholarly journals REFUGEES AS A FACTOR OF ECONOMIC DEVELOPMENT IN HOST COUNTRIES OF MIGRATION

2016 ◽  
pp. 82-89
Author(s):  
R. Stakanov
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
World War Ii ◽  
Supply And Demand ◽  
Forced Migration ◽  
Developed Countries ◽  
Economic Consequences ◽  
Host Countries ◽  
The World ◽  
The Difference

The article analyses refugee impact on economic development of host countries. About two-thirds of all international migrants reside in 20 countries. Total number of refugees in the world was estimated at 19.5 million people in 2014, the number of refugees reached the highest level since World War II. Unlike the voluntary migration, the vast majority of refugees head towards developing countries. It must be stressed that forced migration flows generate significant negative political and economic consequences for the world as a whole. Forced migrants tend to come to those regions where there are no significant employment opportunities. The assumption that receiving a large number of migrants by developed countries may cause unemployment or reduce wages or leads to a significant increase in the cost of public finances due to the rise in social payments is largely unconfirmed. Forced migration being poorly guided, as it is an intrinsic feature of today's stage, creates significant negative externalities to neighbouring regions and the world at large. There is a sizeable difference between forced and voluntary migration for their economic and political consequences. In terms of economic prospects, the difference between forced and voluntary migration should disappear over time. The paper studied the mismatch of supply and demand for certain skills on the labour market that is much more of a problem for developing countries because they receive large volumes of refugees in relation to the total population of their countries and have far fewer opportunities for leveling the imbalance in the economy by attracting additional amount of capital.

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