scholarly journals Tourism and Development in Developing Economies: A Policy Implication Perspective

2020 ◽  
Vol 12 (4) ◽  
pp. 1618 ◽  
Author(s):  
Asif Khan ◽  
Sughra Bibi ◽  
Ardito Lorenzo ◽  
Jiaying Lyu ◽  
Zaheer Udden Babar
Keyword(s):  
Emerging Economies ◽  
Direct Investment ◽  
Developing Economies ◽  
Energy Development ◽  
Policy Makers ◽  
Design And Implementation ◽  
Long Run ◽  
Growth Energy ◽  
Agriculture Development

Tourism is considered a competent driver of development in emerging economies. This study assesses the role of tourism in shaping the fundamental pillars of development in developing economies by targeting the case of Pakistan. Various econometric techniques and approaches were used to investigate the causal relationships of tourism with economic growth, energy and agriculture development, and poverty. This study highlights the important role of tourism in the development of emerging economies. The findings of our study suggest that a 1% increase in tourism significantly enhances gross domestic product (GPD) by 0.051%, foreign direct investment by 2.647%, energy development by 0.134%, and agriculture development by 0.26%, and reduces poverty by 0.51% in the long run. Hence, policy-makers should be informed that through public interventions, tourism can advance development by the design and implementation of integrated policies in developing economies. In addition, policy consistency and coherence are essential for competitiveness, sustainability, and maximizing benefits from tourism.

scholarly journals What Prompts Small and Medium Enterprises to Implement CSR? A Qualitative Insight from an Emerging Economy

2021 ◽  
Vol 13 (2) ◽  
pp. 952 ◽  
Author(s):  
Zengming Zou ◽  
Yu Liu ◽  
Naveed Ahmad ◽  
Muhammad Safdar Sial ◽  
Alina Badulescu ◽  
...  
Keyword(s):  
Emerging Economies ◽  
Developing Economies ◽  
Small And Medium Enterprises ◽  
Customer Behavior ◽  
Policy Makers ◽  
Management Commitment ◽  
Top Management Commitment ◽  
Medium Enterprises ◽  
Corporate Social ◽  
Depth Interviews

The topic of corporate social responsibility (henceforth referred to as CSR) has been a central topic during the last decade, but the majority of the existing literature discusses CSR relationship with large organizations. Whereas, its contribution in small and medium enterprises (henceforth referred to as SME) sector has received little attention. There have been some studies that focused on CSR activities in SME sector quantitatively in the context of developing economies like Pakistan, but the fact is, to date, SME sector of Pakistan is not participating actively in CSR-related activities due to some constraints. The present study is a pioneer attempt, to explore CSR barriers that restrict SME sector of Pakistan from practicing CSR initiatives. For this reason, the present study explores these barriers qualitatively in order to gain in-depth knowledge of different CSR barriers. In doing so, we conducted semi-structured in-depth interviews from 9 SMEs in Lahore city of Pakistan. We performed thematic analysis, which produced five relevant themes of CSR barriers, including: Lack of resources, lack of regulations, lack of top management commitment, lack of CSR knowledge, and passive customer behavior. Our analysis further showed that lack of resources is the most related barrier that hinder SMEs to be engaged in CSR activities. This paper contributes to CSR literature in emerging economies’ context. Through an increased awareness of barriers, policy makers and practitioners may take necessary steps to improve CSR practices in SMEs.

scholarly journals Causal Relationship between Foreign Direct Investment and Economic Growth in Nigeria: 1970-2013

2015 ◽  
Vol 7 (11) ◽  
pp. 230 ◽  
Author(s):  
Uwazie I. U. ◽  
Igwemma A. A. ◽  
Nnabu Bernard Eze
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Unit Root ◽  
Direct Investment ◽  
Developing Economies ◽  
Unit Root Test ◽  
Annual Data ◽  
Policy Reforms ◽  
Causality Test ◽  
Long Run

Foreign direct investment is presumed to play immense role in economic growth in both developed and developing economies. This assumption has motivated the army of studies to actually determine the nexus between foreign direct investment and economic growth in Nigeria. But these studies were not unified on the direction of the causation, hence the need for the study. To effectively analyze the result, the study employs vector error correction model method of causality to analyze the annual data for the periods of 1970 to 2013. The Augmented Dickey-Fuller (ADF) unit root test show presence of unit root at level but stationary after first difference. The Johansen cointegration test confirms that the variables are cointegrated while the granger causality test affirms that foreign direct investment and economic growth reinforce each other in the short run in Nigeria. Also, it is reported that foreign direct investment granger cause economic growth both in the short and long run in Nigeria. Based on these findings, the study advocates the adoption of aggressive policy reforms to boost investors’ confidence and promotion of qualitative human capital development to lure FDI into the country. It also suggests the introduction of selective openness to allow only the inflow of FDI that have the capacity to spillover to the economy. These will attract FDI and boost economic growth in Nigeria.

scholarly journals Free Market Institutions and FDI Performance in Emerging Asian Economies

2016 ◽  
Vol 52 (1) ◽  
pp. 43-58
Author(s):  
Klimis Vogiatzoglou
Keyword(s):  
Emerging Economies ◽  
Direct Investment ◽  
Free Market ◽  
Market Institutions ◽  
Policy Makers ◽  
Asian Economies ◽  
Institutional System ◽  
The Impact

Abstract This paper examines long-term developments in the quality and efficiency of free market institutional systems across thirteen emerging economies from South, South-east, and East Asia over the 1995–2014 period. The paper also empirically assesses the impact of free market institutions on a country’s inward foreign direct investment (FDI) performance. We find that the free market institutional framework in most economies is still relatively inefficient, restrictive, and underdeveloped but has, nevertheless, substantially improved during the last twenty-year period. Our empirical results also indicate that a free market institutional system in a host-country is a factor that attracts inward FDI to emerging Asian economies by multinational companies. Consequently, policy makers should focus on further improving the quality of free market institutions.

scholarly journals The role of foreign direct investment in economic growth of Nigeria

2020 ◽  
Vol 28 (2) ◽  
pp. 357-366
Author(s):  
Michael Madojemu
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Unit Root Test ◽  
Domestic Investment ◽  
Econometric Methods ◽  
Long Run ◽  
Security Challenges ◽  
Adf Test

The paper investigates the relevance of foreign direct investment (FDI) as a factor inhibiting economic growth in Nigeria. This paper inspects the sectorial influence of FDI in manufacturing, mining, oil and the telecommunications sectors on economic growth in Nigeria based on theoretical framework founded on the standard growth accounting theory, detailed analysis of the sectorial FDI over the period 1981 and 2017 was carried out. Various econometric methods are employed, such as the ADF test, Dickey and Fuller test (1979), PP test (Phillips and Perron, 1988) are used for the unit root test, and the Shahbaz and Rahman (2010) method is used for the long-run relationship between the foreign direct investment and economic growth. The paper also adapted the framework provided by M.B. Obwona (2004). The paper formalizes a mechanism of recommendations to allow for the influence of foreign direct investment in the transmission of socio-economic growth generated in Nigeria. In conclusion, government should provide an enabling environment that will encourage foreign investors to invest in Nigeria economy by addressing the security challenges in the country, understanding that investment friendly environment will improved regulatory framework as well as encourage domestic investment.

scholarly journals The Role and Challenges of Small and Medium-sized Enterprises (Smes) in Emerging Economies: An Analysis from Turkey

2015 ◽  
Vol 1 (2) ◽  
pp. 179 ◽  
Author(s):  
Hande Karadag
Keyword(s):  
Emerging Economies ◽  
Socioeconomic Development ◽  
Significant Contribution ◽  
Developing Economies ◽  
Critical Role ◽  
Major Elements ◽  
Turkish Economy ◽  
Development Policies ◽  
New Jobs

Small and medium-sized enterprises (SMEs) form a large part of economy. As SME sector has a crucial role in creating new jobs, economic growth and innovation, these economic units are worldwide acknowledged as the key actors of socioeconomic development. In Turkey, significance of SMEs is relatively higher, caused by not only from their huge share in the economy, amounting to 99.9% of all registered enterprises, but also their “backbone” function in the dynamic but turbulent Turkish economy. As Turkey experienced severe economic crises during the recent decades, SMEs became one of the major elements of the growth and development policies of regulatory authorities. This paper aims to address this critical role of small and medium sized companies by investigating factors behind the rising popularity of SME sector in Turkey, while at the same time pinpointing the major adventageous and problematic areas. Turkey is among major emerging economies, therefore the analysis this expected to make a significant contribution to literature about small business sector in developing economies by taking the factors constraining the growth of Turkish SME sector to the spotlight.

scholarly journals Agriculture Credit in Developing Economies: A Review of Relevant Literature

2015 ◽  
Vol 7 (12) ◽  
pp. 219 ◽  
Author(s):  
Priyanka Yadav ◽  
Anil K. Sharma
Keyword(s):  
Developing Economies ◽  
Relevant Literature ◽  
Rural Finance ◽  
Policy Makers ◽  
Comprehensive Review ◽  
Rural Credit ◽  
Time Period ◽  
Rural Credit Markets ◽  
Study Methodology

<p>This paper aims to present a comprehensive review of 110 studies on agriculture credit in developing countries during 1995 to 2015. The literature has been classified and presented on the basis of time period, country of study, methodology used, issues covered, and sources of study. Agriculture credit has gained interest of policy makers and researchers in developing economies in recent years with raising concerns of issues like food security and rising population. However, the situation of small and marginal farmers is still vulnerable and they lack timely and adequate access to institutional sources of finance. Non-institutional sources of credit are still dominant in rural credit markets; while the role of micro-finance appears dubious. This study will prove helpful for policy makers and future researchers who wish to study diverse issues in rural finance in general and agriculture credit in particular.</p>

Socio-Economic Impact of Foreign Direct Investment in Developing Countries

2018 ◽  
pp. 66-81
Author(s):  
Christopher Boachie ◽  
Eunice Adu-Darko
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Developing Economies ◽  
Private Investment ◽  
African Countries ◽  
Policy Makers ◽  
Development Indicators ◽  
Domestic Credit ◽  
Socio Economic Impact ◽  
Using Data

The purpose of this chapter is to empirically examine the impact of socio-economic determinate of foreign direct investment in developing economies. FDI is an important part of the massive private investment that is driving economic growth around the world, particularly in the past two decades. This was achieved by examining 10 African countries using data from world development indicators on FDI and socio-economic parameters ranging from 1990 to 2015. A panel regression model was applied to 260 samples. The results showed openness, exchange rate, domestic credit to private sector, and regulatory quality have a significant effect on FDI. Policy makers in African countries need to adopt institutional reforms that could contribute to improving their state of governance, promote their investment climate, and help in attracting more FDI.

The Energy Consumption-Environmental Quality Nexus in BRICS Countries: The Role of Outward Foreign Direct Investment (OFDI)

2021 ◽  
Author(s):  
Saileja Mohanty ◽  
Narayan Sethi
Keyword(s):  
Developing Countries ◽  
Foreign Direct Investment ◽  
Energy Consumption ◽  
Environmental Quality ◽  
Direct Investment ◽  
Early Stage ◽  
Outward Foreign Direct Investment ◽  
Stage Of Development ◽  
Long Run

Abstract This paper examines the role of outward foreign direct investment (OFDI) on energy consumption and environmental quality in BRICS from 1990 to 2019. We use cross-sectional dependence (CSD) and the Pesaran-Yamagata slope homogeneity for the diagnostic test. After confirming the diagnosis test, we employ CIPS and CADF second generation panel unit root test, which confirms that all elements are stationary at first difference. The Pooled Mean Group (PMG), Westerlund cointegration, two-step GMM, panel FMOLS and DOLS model have been used to determine the short term and long-term association among the variables. The cointegration and PMG results confirm that the short-run and long-run association exists among the considered variables. The GMM and DOLS results reveal that developing countries produced environmental pollution at the early stage of development and checked in the long run. The empirical results hold up the EKC hypothesis, which implies that OFDI and energy consumption help expand greener technology to host countries' environmental improvement in the long run and confirm that an inverted U-shaped linkage exists. Hence, the study suggests that developing countries should pay more attention to sustainable development and technological development that encourages more eco-friendly and environment-friendly technology. To frame the profitable strategies, governments of emerging countries should inspire public-private partnerships to circulate the environmental consciousness, guideline for energy efficiency, and generate a pollution-free environment.

Using Backcasting Methodology in Decision-Making of Biomass Energy Development

2013 ◽  
Vol 291-294 ◽  
pp. 364-367
Author(s):  
Jun Li ◽  
Wen Bin Ding ◽  
Si Jiang Jing
Keyword(s):  
Decision Making ◽  
Renewable Energy ◽  
Transition Period ◽  
Energy Development ◽  
Biomass Energy ◽  
Policy Makers ◽  
Healthy Development ◽  
Long Run ◽  
Renewable Energy Development ◽  
Energy Domain

The purpose of this paper is to introduce a methodology-Backcasting for policy makers in renewable energy development, with expect to enable the development of an alternative strategy and the facilitation of a more flexible and responsible policy agenda. Take biomass energy domain as a case to explain the application of this methodology, and multiple factors should be taken into account. The study indicates that China’s renewable energy is still in the transition period from research and development to industrial production, and the effective, scientific and timely decision-making from government policy makers is utmost crucial to the healthy development of renewable energy industry in China because it regulates the development path of this innovative industry. It is an innovation to link biomass industry development with urbanization strategy in China rural area in the long run.

Economic Growth, Energy Consumption and Tourism Development in Taiwan: A Granger Causality Approach

2012 ◽  
Vol 524-527 ◽  
pp. 3376-3379 ◽  
Author(s):  
Ming Liu ◽  
Sue Ling Lai ◽  
Kuo Cheng Kuo
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Causal Relationship ◽  
Tourism Development ◽  
Point Of View ◽  
Test Results ◽  
Policy Makers ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Growth Energy

This study examines the causal relationship among economic growth, energy consumption and tourism development in Taiwan over the period from 1965 to 2010. Three Principle test results emerge from this study. First, test results indicate a long-run equilibrium relationship and a bi-direction of causality between energy consumption and tourism development with one proxy, number of visitors, being more significant than the other, visitor expenditures. Second, a bi-directional causality between energy consumption and economic growth is observed. Third, test results indicate no reciprocal causal relationship between tourism development and economic growth. From an energy conservation and sustainable tourism point of view, it is suggested policy makers and industry leaders develop high value, high profit tourism products that aim on attracting more visitor expenditures rather than numbers of visitor.

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