Exports and Imports-Led Growth: Evidence from a Small Developing Economy

This paper examines equilibrium relationships and dynamic causality between economic growth, exports, and imports in Nepal using time-series data between 1965 and 2020. This research examines the impact of exports and imports on the economic growth of Nepal and documents empirical evidence in exports-led growth, imports-led growth, growth-led exports, and growth-led imports hypotheses in both the short and long run. The test results show no evidence favoring the exports-led growth and growth-led exports hypotheses in both the short and long run. However, the study finds evidence supporting the imports-led growth hypothesis in the short term and the growth-led imports hypothesis in the long term. Overall, this paper finds no evidence in favor of the notion that foreign trade supports the economic growth of Nepal in the long run. The research findings may have important implications for policymakers in Nepal. The paper contributes to trade and economic growth literature by investigating the relationship between exports, imports, capital, and gross domestic products in a small economy such as Nepal, where exports make a minimal and imports make an extensive contribution to gross domestic products by using cointegration and the vector error correction model.

Strategic marketing to strengthen dairy production

Microenterprises that produce dairy products face problems of unfair competition, unfavorable government regulations, and under-utilization of milk derivatives. This work focuses its objective on analyzing and developing strategic marketing for the strengthening of dairy production; For this, the contributions of marketing and its relationship with dairy production are enunciated and the marketing strategies of applied products are analyzed. Through a qualitative approach, with quantitative data, in the light of a descriptive, cross-sectional method, the methodological process is developed, through which results are obtained that show the need to propose product strategies and take advantage of serum waste milk. In this sense, the elaboration of products derived from whey is proposed for their subsequent commercialization. As a conclusion, small economy companies cannot afford investments of more than 800,000.00 USD; therefore, they require alternatives such as associativity. Keywords: strategic marketing, product strategies, dairy, whey. References [1]M. L. Castells et al., Valorización del lactosuero. 2017. [2]G. and P. Dirección de Innovación para el Desarrollo Sustentable de la Secretaría de Gobierno de Ambiente y Desarrollo Sustentable, en articulación con la Dirección Nacional Láctea del Ministerio de Agricultura, “Recuperación y valorización de lactosuero en PYMES de la cuenca láctea argentina , a través,” 2019. [3]T. Vallet Bellmunt et al., Principios del Marketing Estrategico. 2015. [4]P. Kotler, “Marketing_4.0_ESP,” p. 112, 2014. [5]R. Hoyos Ballesteros, “R. Hoyos Ballesteros, Plan de marketing: diseño, implementación y control.,”2013. https://elibro.puce.elogim.com/es/ereader/puce/69263?page=13 (accessed Mar. 10, 2021). [6]C. Lamb, J. Hair, and C. McDaniel, MKT Lamb. 2011. [7]E. Pico Gutiérrez, M. Loor Solórzano, and C. Caamaño López, “estrategías de marketing para fortalecer la gestión comercial de las Pymes en la provincia deSanta Elena: caso compañia Serlipen S.A,” Rev. Universidad, Cienc. y Tecnol., vol. 24, no. 100, pp. 11–19, 2020, [Online]. Available: https://www.uctunexpo.autanabooks.com/index.php/uct/article/view/298. [8]B. Caiza and W. Jiménez, “Desarrollo de la tecnologia para elaborar bolos a partir de suero de leche dulce con la adicion de pulpa de fruta, azucar y gelatina,” Repo.Uta.Edu.Ec, vol. 593, no. 03, p. 130, 2011, [Online]. Available: http://repo.uta.edu.ec/bitstream/ handle/123456789/5301/Mg.DCEv.Ed.1859.pdf?sequence= 3. [9]J. Ulloa and G. Navas, “Utilizacion Del Suero De Leche En La Elaboracion De Bebidas De Bajo Grado Alcoholico Con El Empleo De Bacterias Acido Lacticas,”2009. [10]CIL, “Datos del sector lechero,” Cent. Ind. Láctea del Ecuador, p. 2018, 2018, [Online]. Available: https://e152f73b-81b4-4206-a6ee-8b984b6a13b0.filesusr.com/ugd/6cc8de_513a9bb8db76451a9a74586d7902bb3b.pdf. [11]Magap, “Acuerdo ministerial 394. Regular y controlar el precio del litro de leche cruda pagado en finca y/o centro de acopio al productor y promover la calidad e inocuidad de la leche cruda.,” Minist. Agric. Ganad. y Pesca del Ecuador, no. 111, p. 10, 2013, [Online]. Available: www.magap.gob.ec. [12]J. P. Grijalva Cobo, “La industria lechera en Ecuador: un modelo de desarrollo,” Retos, vol. 1, no. 1, p. 6, 2011, doi: 10.17163/ret.n1.2011.08. [13]Acuerdo-ministerial-177_"sostenibilidad_cadena_láctea".pdf. [14]Procesamiento de suero | Manual de procesamiento de lácteos. https://dairyprocessinghandbook.tetrapak.com/chapter/whey-processing (accessed Apr. 07, 2021). [15]P. Dianela, “Procesamiento del lactosuero: elaboración de lactosa y aprovechamiento de proteínas,” Tecnol. Láctea Latinoam. No, vol. 87, p. 44, 2015. [16]Énfasis Alimentación, “suero-polvo-desproteinizado-la-estrella-la-panaderia,” 2020. [17] B. Jonson, “Los productos de suero de leche de Estados Unidos en botanas y aderezos,” U.S. Dairy Export Counc., pp. 1–8, 2010. [18]J. Keeton, “Aplicaciones de Productos de Suero y Lactosa en Carnes Procesadas,” Mundo Lácteo y Cárnico, pp. 18–25, 2008. [19]N. Hosp et al., “Nutrición Hospitalaria Trabajo Original Correspondencia.” [20]E. Sequera, C. Farfán, and W. Zambrano, “Analisis del perfil de deseabilidad del valor nutricional de un alimento en barra a base de ajonjolí, maní y suero lácteo en polvo,” rev. Científica mangifera, pp. 103–115, 2019. [21]“Obtención de hidrolizados proteicos bajos en fenilalanina a partir de suero dulce de leche y chachafruto (Erythrina edulis Triana).”https://www.alanrevista.org/ediciones/2019/1/art-4/ (accessed May 02, 2021). [22] ean Cano, “Ecuador compró más suero de leche en polvo,” 30 sep. 2019, Sep. 2019. [23]“agricultura-suero-polvo-leche-calidad.” [24]“Sueros de lechería.” http://www.alimentosargentinos.gob.ar/contenido/revista/html/44/44_08_Lacteos_sueros_lecheria.html (accessed Mar. 03, 2021). [25]“Suero en polvo | Tetra Pak.” https://www.tetrapak.com/es-ec/insights/food-categories/whey-powder (accessed Feb. 24, 2021). [26]“GALAXIE Secado Spray.” https://www.galaxie.com.ar/productos_precios.php (accessed Mar. 03, 2021). [27]R. Hernandes Sampieri, C. Fernandez Collao, and P. Baptista Lucio, “Metodologia de la Investigacion.”https://www.uca.ac.cr/wp-ontent/uploads/2017/10/Investigacion.pdf (accessed Jun. 09, 2021). [28]“Evaporadores | Manual de Procesamiento de Lácteos.” https://dairyprocessinghandbook.tetrapak.com/chapter/whey-processing (accessed Apr. 07, 2021). [29]R. Hoyos Ballesteros, “Plan de marketing : diseño, implementación y control,” p. 203, 2013.

Overcoming the consequences of financial crisis on the example of Island and Ireland

Will Ireland share the fate of Iceland? Is this open, small economy with a debt-to-GDP ratio of above 130% on the verge of bankruptcy? Economists argue that if public debt is greater than national income, then smaller economies, heavily involved in the international division of labor are at risk of becoming insolvent. The bankruptcy of Ireland, whose prosperity is based on its reputation for being a good place to do business, could be a catastrophy. Contrary to the countries of southern Europe, the economy of the Green Island has never had problems with paying its liabilities and with solvency. While Greece has gone bankrupt five times since gaining independence in 1826 and Spain as many as thirteen in the past two centuries, Ireland's history in this area is impeccable (Reinhard, Rogoff, 2009, p. 3-6). Since the beginning of the 21st century Ireland's economic development has been based mainly on construction industry and not exports, as it used to be in the 1990s when the country was nicknamed the Celtic Tiger. The boom resulted in a budget surplus and a positive balance in current settlements. But it also resulted in higher prices - the Irish no longer had to accept slow wage growth to stay internationally competitive - which, combined with the low nominal interest rate of the European Central Bank, provided fertile ground for the build-up of the real estate bubble. The aim of the article is to identify the factors that led Ireland to the brink of bankruptcy and to try to answer the question whether the action of recapitalization of failing banks by the government and international financial institutions will bring the expected results in the form of healing the financial system and returning Green Island to the path of economic growth.

Determinants of Internationalization as Levers for Sustainability: A Study of the Portuguese Pharmaceutical Sector

The pharmaceutical industry is facing the pressure of a global economy, loss of value in local markets and the highly intense innovation that characterizes this sector. This has a heavy impact, particularly in smaller economies. With this investigation, we intend to identify the determinants of internationalization as levers for sustainability in the pharmaceutical export sector of a small economy. Data was collected from a sample representing 63% of the total universe, Portuguese pharmaceutical organizations with exporting activity. A contextualization of the sector and a bibliographic review were previously carried out, which laid the groundwork for the empirical framework. This study revealed a deeply internationalized sector conditioned by a few shortcomings, namely a certain lack of sustainable competitive advantages, relatively low investment in research and development (R&D), insufficient innovation in internationalization strategies as well as scarce institutional support. Our findings may help pave the way for a more complete understanding of the dynamics of internationalization in highly competitive sectors.

Determinants of Internationalization as Levers for Sustainability: A Study of the Portuguese Pharmaceutical Sector

The pharmaceutical industry is facing the pressure of a global economy, loss of value in local markets and the highly intense innovation that characterizes this sector. This has a heavy impact, particularly in smaller economies. With this investigation, we intend to identify the determinants of internationalization as levers for sustainability in the pharmaceutical export sector of a small economy. Data was collected from a sample representing 63% of the total universe, Portuguese pharmaceutical organizations with exporting activity. Contextualization of the sector and a bibliographic review were previously carried out, which laid the groundwork for the empirical framework. This study revealed a deeply internationalized sector conditioned by a few shortcomings, namely a certain lack of sustainable competitive advantages, relatively low investment in research and development (R&D), insufficient innovation in internationalization strategies as well as scarce institutional support. Our findings may help pave the way for a more complete understanding of the dynamics of internationalization in highly competitive sectors.

Strategi Bersaing Pedagang Pasar Tradisional Flamboyan Menghadapi Pasar Modern di Kota Pontianak

The development of modern markets in Pontianak City is very rapid which can certainly have an impact on traditional markets. The existence of a modern market will affect the pattern or behavior of consumers, so that consumers often choose to shop at the modern market. This condition is a threat to traditional market traders, so tradional market traders need a special strategy in retaining their consumers. This study aims to formulate a competitive market strategy to deal with modern markets in Pontianak. The method used is descriptive method and analyzed using SWOT. Data collection uses questionnaire instruments for consumers, traders and several key informants. The results show that the competitive strategy of traditional flamboyant market traders to face modern markets in the city of Pontianak is to use SO strategies, by providing good service to customers, increasing sales of people's basic needs, offering products at low prices with the hallmark of bargaining culture, increasing small economy and loves local products. Efforts that can be given are for traders to maintain facilities and infrastructure in the market, continue to pay attention to the needs of consumers, change the market healthier and cleaner. The government must also always pay attention to the comfort, freedom of consumers, handle every complaint, select every trader who is always active and inactive so that there are no empty booths and increase the ability of resources to traders.

Economic & geopolitical opportunities and challenges for Bangladesh

Investment seeking Bangladesh's economy is hungry for local and international finance for its infrastructure development. One Belt-One Road (OBOR) seems opened a golden door, not only for Bangladesh's economic reform but also created an opportunity for higher bilateral cooperation between China and Bangladesh. The geographical location of Bangladesh is playing a vital role despite being a small economy and territory in the region. Covering three sides of the Bangladeshi border, economically emerging state India has a sharp eye look on Bangladesh's strategies and policies more than any other time. The hostile looks of India (on China's OBOR initiative) are not an easy task for Bangladesh regarding Geopolitical & Economic strategies. Growing interests in Bangladesh among China and India appeared as a two-edged sword. However, India was the major trading partner of Bangladesh. However, China's trade with Bangladesh has increased manifold in recent years to surpass India from 2004 onwards. This is slowing down, and the change of economic relations between India and Bangladesh, coupled with strained and uncertain political relations, raises multiple concerns. Many dynamics have contributed to China's growing presence in Bangladesh compared to India's decline concerning trade and investment. India has lost out to China in many vital industries. While reviewing and assessing recent developments, the study also depicts a strategy to counter India's declining economic influence in Bangladesh.

Stability of gold standard and its selected consequences: a comment

Kvasnicˇka (2007) attempts to demonstrate that the gold standard may be an unlikely alternative for small economies to revert to. The crux of his argument deals with supply considerations that could prove fatal to a fledgling currency. An influx of gold from the world’s existing gold stock, or its new production could prove to be a destabilising supply-side factor undermining the usability, and hence, adoption, of such a monetary system. We find fault with this for two main theoretical reasons. First, a distinction must be made between gold stock, and monetary gold. Second, the mechanism that creates monetary gold works as a natural break on unrestrained supply growth. Several additional clarifications are necessary as well, among them the role money supply plays in the trade cycle, and the casual relationship that exists between supply and price. Finally, an insightful comparison used linking monetary gold in a small economy to the use of cigarettes in a Second World War P.O.W. camp must be slightly altered to make a true comparison. Kvasnicˇka does a great service to free-marketers by providing a theoretical attack on the choice of gold as a medium of exchange, however, in light of this paper’s theoretical conclusions, the free-market defence of commodity money endures. JEL Classification: B53 – Austrian Economics, E42 – Monetary Systems, E51 – Money Supply.

SCIENTIFIC AND PRACTICAL BASES OF INCREASING THE EFFICIENCY OF LIVESTOCK IN THE CONDITIONS OF CENTRAL KAZAKHSTAN

The analysis demonstrates that the growth of animal products is provided, mainly by the private subsidiary farmings and households (PSF and HH), where is concentrated more than 80% of cattle and poultry. Meanwhile, small-scale seasonal production prevails in this sector, which, as practice shows, sometimes does not meet the requirements of the processing industry, and the output products cannot be competitive domestically, especially on the foreign markets. Consequently, the purpose of these scientific and production researches were the development of the conceptual framework for the improvement of the efficiency of live-stock animal breeding in the rural regions of Central Kazakhstan, which have lion shares of pasture land and underground minerals of the country. A distinctive feature of the operating system of the small economy management forms in rural regions of Akmola, Karaganda, North-Kazakhstani, and South-Kazakhstani areas has been studied. The modern abstract-logical, economic-mathematical and statistical methods, common research methods in the area of livestock section are applied in the scientific researches, experiments: All-Russia Research and Development Institute of Livestock Breeding, VIZH, VASKHNIL, and also data on the development of cattle breeding of the region before and post-privatization periods of the rural reform was used. On the basis of long-term research work, the author having identified the main problems, is developing a comprehensive program for the development of animal husbandry in four areas, that is, to improve systems: economy management, fodder production, subsidies and breeding. According to the research, the principles and conceptual foundations of improving the efficiency of breeding domestic farm animals have been developed. At the same time, the principles of a systematic approach, feedback, the need to describe the regulatory impacts of the state, the functional composition and structure of the system of economic models at the level of rural regions are distinguished and justified.