scholarly journals CONVERGENCE IN CORPORATE GOVERNANCE: THE CASE OF CHINA AND INDIA

2020 ◽  
Vol 7 (1) ◽  
pp. 59-90
Author(s):  
A. Majumdar
Keyword(s):  
Economic Growth ◽  
Corporate Governance ◽  
Emerging Economies ◽  
Direct Investment ◽  
The Other ◽  
Minority Shareholders ◽  
Economic Independence ◽  
China And India ◽  
Domestic Capital ◽  
Advanced Economies

China and India face similar challenges in maintaining their aggressive rates of economic growth. While both countries attained economic independence in the late 1940s, each followed a different path in terms of growth. China preferred to open up its economy to foreign direct investment much earlier and only in recent times has it turned towards domestic capital. India, on the other hand, began by attempting to develop local talent and shifted its focus to foreign participation in 1991. This paper examines the politicoeconomic background and the resultant corporate governance paths undertaken by each of these countries. These paths, while diverse, lead to a convergence. In particular, given the nature of concentrated shareholdings in Chinese and Indian companies, by the State in China and by family promoters in India, the second agency problem and the requisite protection of minority shareholders assume considerable importance in both jurisdictions. However, given the nature of corporate governance norms having been transplanted from advanced economies to emerging economies, this convergence may not be suitable or even desirable. This paper posits that emerging economies such as China and India ought to develop and implement corporate governance norms that are separate from those of advanced economies to combat the unique issues arising out of shareholding patterns at home.

scholarly journals Comparison Of Patterns Of Convergence Among “Emerging Markets” Of Central Europe, Eastern Europe And Central Asia

2015 ◽  
Vol 18 (1) ◽  
pp. 5-23 ◽  
Author(s):  
Joanna Poznańska ◽  
Kazimierz Poznański
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Emerging Markets ◽  
Eastern Europe ◽  
Emerging Economies ◽  
Central And Eastern Europe ◽  
The Other ◽  
Catching Up ◽  
Advanced Economies ◽  
Growth Indicators

Based on analysis of economic growth indicators for 1989-2014, this article distinguishes the “emerging markets” of Central and Eastern Europe (with Russia included), from the other economies that fall in the broad ‘emerging markets’ category. Following the post–1989 reforms, the countries of the region share many of the same typical institutional features as other “emerging economies”, but not necessarily the associated economic outcomes. What characterizes “emerging economies” is that they grow fast enough to systematically close the distance dividing them from the advanced economies, creating convergence. Departing from this pattern, Central and Eastern Europe (and Russia) have so far fallen short in terms of the growth rates, and the region as a whole has not made much progress in catching up. By more than doubling its national product Poland is the only notable exception in the region, although Slovenia may fit in the same category. At the other extreme, some of the economies actually lost two decades in terms of reducing the gaps, and some even fell further behind (e.g., Serbia, Ukraine). These findings have potentially serious implications for economic theory in general and for the presumption that globalization processes act as a unifying developmental force.

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 Dynamic Causal Relationships among GDP, Exports, and Foreign Direct Investment (FDI) in the Developing Countries

2013 ◽  
Vol 14 ◽  
pp. 1-19 ◽  
Author(s):  
Mohsen Mehrara ◽  
Amin Haghnejad ◽  
Jalal Dehnavi ◽  
Fereshteh Jandaghi Meybodi
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Foreign Direct Investment ◽  
Strong Evidence ◽  
Direct Investment ◽  
The Other ◽  
Fdi Inflows ◽  
Long Run ◽  
Short Run ◽  
Growth Hypothesis

Using panel techniques, this paper estimates the causality among economic growth, exports, and Foreign Direct Investment (FDI) inflows for developing countries over the period of 1980 to 2008. The study indicates that; firstly, there is strong evidence of bidirectional causality between economic growth and FDI inflows. Secondly, the exports-led growth hypothesis is supported by the finding of unidirectional causality running from exports to economic growth in both the short-run and the long-run. Thirdly, export is not Granger caused by economic growth and FDI inflow in either the short run or the long run. On the basis of the obtained results, it is recommended that outward-oriented strategies and policies of attracting FDI be pursued by developing countries to achieve higher rates of economic growth. On the other hand, the countries can increase FDI inflows by stimulating their economic growth.

scholarly journals An Empirical Investigation on Determinants of Sustainable Economic Growth. Lessons from Central and Eastern European Countries

2020 ◽  
Vol 13 (7) ◽  
pp. 146 ◽  
Author(s):  
Batrancea Ioan ◽  
Rathnaswamy Malar Mozi ◽  
Gaban Lucian ◽  
Fatacean Gheorghe ◽  
Tulai Horia ◽  
...  
Keyword(s):  
Economic Growth ◽  
Direct Investment ◽  
Time Frame ◽  
Valuable Insight ◽  
Eastern European ◽  
Domestic Capital ◽  
Domestic Savings ◽  
Macroeconomic Indicators ◽  
Eastern European Countries ◽  
Sustainable Economic Growth

The study focuses on the effects of imports, exports, financial direct investment inflow and financial direct investment outflow on sustainable economic growth expressed by various macroeconomic indicators (gross domestic product, gross domestic savings, gross domestic capital) using the least squares panel method. Sample data were selected for ten Central and Eastern European (CEE) countries and the time frame considered was 2005–2016. Generally, transitional economies have to incorporate strong savings and a steady capital formation in order to achieve higher economic growth via foreign direct investment. Results showed that the analyzed factors played a major role in the sustainable economic growth of CEE countries. Another important and valuable insight of this study is that the financial sector steers the process of achieving sustainable economic growth across CEE countries.

Driving Factors for Converting Teaching-Oriented Universities Into Entrepreneurial Universities

2018 ◽  
Vol 7 (3) ◽  
pp. 34-53
Author(s):  
Serdal Temel ◽  
Susanne Durst
Keyword(s):  
Economic Growth ◽  
Emerging Economies ◽  
Knowledge Production ◽  
Driving Factors ◽  
Entrepreneurial Universities ◽  
Academic Promotion ◽  
Strategic Factor ◽  
Current State ◽  
Advanced Economies ◽  
Novelty Search

In order to accelerate economic growth, many countries have developed and implemented different programs and mechanisms. Benefiting universities' knowledge production and human capacity are one of those mechanisms and therefore entrepreneurial universities, in particular, are considered as a strategic factor in order to realize this target. While in many advanced economies, mainly in Europe and United States, entrepreneurial universities have been established over the years, but this has not been realized in emerging economies. Against this background and the activities found in Turkey, this article sheds light on the current state of Turkish universities regarding their development into entrepreneurial universities. Main findings show that existence of IP policy and TTO is driving factors for entrepreneurial universities. In addition, IP awareness activities in the campus, novelty search and using patent during academic promotion motivates universities to become more entrepreneurial.

The outlook for long-run economic growth

2021 ◽  
pp. 201-221
Author(s):  
Jesper Rangvid
Keyword(s):  
Economic Growth ◽  
The Other ◽  
Long Run ◽  
Advanced Economies ◽  
The World ◽  
Future Growth

The chapter discusses theory and empirics regarding long-run economic growth. After reviewing the historical facts, the chapter discusses likely scenarios for long-run growth. The chapter also presents the arguments in a heated discussion where one side argues that growth will be tremendously high going forward, but the other argues future growth will be low. The chapter concludes that it does not seem likely that growth will be superhigh going forward. Will it be very low, then? In Advanced Economies, growth will probably be lower than the historical average, but in other parts of the world, growth will most likely be just fine.

Economic Growth and Structural Change in Turkey 1960–88

1994 ◽  
Vol 26 (1) ◽  
pp. 37-56 ◽  
Author(s):  
A. Aydin Çeçen ◽  
A. Suut Doğruel ◽  
Fatma Doğruel
Keyword(s):  
Economic Growth ◽  
Economic History ◽  
Structural Adjustment ◽  
Military Intervention ◽  
State Intervention ◽  
Economic Liberalization ◽  
The Other ◽  
New Era ◽  
Domestic Capital ◽  
The One

After almost five decades of industrialization—characterized, on the one hand, by considerable state intervention and, on the other, by protectionist import-substituting policies in domestic capital formation—in the early 1980s Turkey ostensibly entered a new era of export-led economic growth. Since 1960, the Turkish democracy has experienced a series of crises with astonishingly regular ten-year cycles of recurrence. The 1980 military intervention, however, brought about a radical attempt to restructure the economy, hardly comparable with the rather gradual changes in its recent economic history. Its ten years of experimentation with economic liberalization and structural adjustment provide us today with an adequate record to identify and discuss at least the salient features of this period by comparing the performance of the economy in different years.

The Causal Links Between Foreign Direct Investment And Economic Growth In Pakistan

2012 ◽  
Vol 6 ◽  
Author(s):  
Najid Ahmad ◽  
Muhammad Farhat Hayat ◽  
Muhammad Luqman ◽  
Shafqat Ullah
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Domestic Product ◽  
Correction Model ◽  
Economic Progress ◽  
Long Run ◽  
Domestic Capital ◽  
The Relationship

This paper investigates the relationship between foreign direct investment and economic growth in Pakistan. The co-integration and error correction model is used to show the relationship between foreign direct investment and gross domestic product in Pakistan. Gross domestic product is taken as dependent variable while foreign direct investment, labor force and domestic capital as independent variables. The results suggest that there is a positive relation between foreign direct investment and gross domestic product in short as well as long run. If we want to make economic progress then there is a need to invite foreign investors because foreign direct investment increases GDP that is economic growth.

scholarly journals The Effect Of Corporate Governance On Corruption In Public Listed Companies In The Context Of Jordan

2021 ◽  
Vol 58 (1) ◽  
pp. 555-566
Author(s):  
Mohamed Fahmi Ghazwi
Keyword(s):  
Corporate Governance ◽  
Financial Institutions ◽  
Listed Companies ◽  
The Other ◽  
Minority Shareholders ◽  
Legal Provisions ◽  
Other Hand ◽  
Number Of Factors ◽  
The One ◽  
The Relationship

The OECD defined corporate governance  as, enforce laws, rules and standards that define the relationship between company management on the one hand, shareholders, stakeholders or parties associated with the company on the other, and urge financial institutions to adopt those laws and standards in their systems to ensure universal classification, such laws and standards are called corporate governance. Some countries have adopted such standards, which are based on integrity and transparency, such as the Hashemite Kingdom of Jordan, but the apply these standards to protect the minority of shareholders in the joint stock companies are in conflict with certain legal provisions laid down by the Jordanian legislature in the companies Act. The Jordanian companies' law and some other financial laws have, of course, included a number of factors that encourage corporate governance, but on the other hand, we find texts that still impede the application of these standards and provide indicators that do not encourage the application of their standards and affect the rights of minority shareholders. The study will refer to the most important corporate governance criteria that balance the rights of the minority and majority shareholders with those that still need to be modified.

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