Nanotechnology, Long Waves, and Future of Manufacturing Industry

This study concerns the long wave theory of capitalist development with an aim to discuss and analyze the impact of nanotechnology on manufacturing industry. Long wave theory was asserted by Russian economist Kondratieff and it states the capitalist development with subsequent cycles which last 40 to 60 years each. The theory of Kondratieff was also contributed by other scholars as Schumpeter, Freeman, and Perez. Our research attempts to review how nanotechnology contributes economic growth, and how it changes the structure of manufacturing industry at the eve of the sixth Kondratieff wave. This structure was examined by using comparative case study of European Union, East Asian Newly Industrialized Countries and Middle East and North African (MENA) countries.

Small Active Investors' Perceptions and Preferences Towards Tax Saving Mutual Fund Schemes in Eastern India

Perception and preference factor plays an important role and help the investor to understand and make the meaningful investment decisions. These two factors are highly influenced by demographic differences of an investor. The present study aims to examine the perception and preference factors influencing the investment behavior of an investor based on various demographics differences. Survey method of primary data collection techniques was adopted to collect responses of 750 respondents from Eastern India particularly (state capital or satellite towns having the population of 10,00,000) Bihar, Jharkhand, Odisha, West Bengal, Sikkim and Assam. Results of the present study suggest that significant demographics differences occur in investment perceptions and preferences towards tax saving mutual fund investments among the investors.

Making Innovation Development Policies Work for MENA

This chapter analyzes the Middle Eastern North African economies' growth prospects and investigates the role of entrepreneurial activities in achieving sustainable economic growth and social development. It explores the existing macroeconomic, political and social characteristics of the region and brings the different literatures together to understand the policy implications of theory and practices. The chapter shows that entrepreneurial activities can cure a lot of problem in the region as long as supported by the central authorities, and the region has a strong potential to be used by the entrepreneurs.

Firm-Level Determinants of Foreign Investment and M&A Activity

The last decade is marked with acceleration of mergers, corporate restructuring and governance activities. M&A activity has been driven by factors such as technological change, globalization, free trade, deregulation, attempts to attain economies of scale, rise in entrepreneurship, and economic growth. Corporations need to adjust to the change in the environment and expand their markets to achieve growth and protection against volatile economic conditions. Firms can achieve international expansion through foreign direct investments (FDIs) which can take the form of cross-border acquisitions (brownfield investments) and Greenfield investments. This chapter covers an overview of the literature on the determinants of FDI forms of entry, and M&A activity followed with an empirical investigation of the firm-level determinants of foreign investment in Turkey with emphasis on cross-border acquisitions and Greenfield investments. Summary of the findings is followed with the economic implications of forms of FDI entry. The concluding remarks cover the implications of the results for policy makers.

Securitization and the Economy of Risks

In the beginning of the 21st century the society of the Second Modernity with incalculable risks marks human conditions in orientation and self-categorization on the basis of historical memory. The dichotomy “We-Other” influences strategic risk decisions. Security is becoming the umbrella topic referring to public goods, transnational markets, “the specific way of life”. In the context of different agreements and regulations co-existence (such as European Economic Area, Eurasian Economic Union, BRIC etc.) claims for personal and collective safety together with the rhetoric of memorization influences decision-making process and becomes a burden of securitization. The “Eurasian” project of integration is observed in its transformation from being based on the post-Soviet memory toward economically beneficial cooperation. Still the Eurasian Economic Union is seen as vague in its goals and instruments, relying on the approach to economic integration with the reference to the common past, memories and identity.

Demographic Transition, Oil, and Institutions

We examine political and economic drivers of demographic transition and the moderating role of institutions, macroeconomic instability and oil rents dependency in the final effects of increasing working age population on economic development and internal conflict. Using panel data estimations for more than 100 countries from 1984 to 2012 we find that demographic transition may lead to demographic dividend only if the country enjoys good quality of economic and political institutions, a diversified economy and stable consumer prices. Otherwise demographic dividend is not guaranteed. By contrast, we may expect a demographic curse. These results have important policy implications for the case of Iran which is expecting a significant transition in its population age structure since 1990s. Future of Iran is highly dependent on the proper use of potential demographic rent which can turn against the political stability if the wrong policies and institutions are in place and country dependence on oil rents continues as before.

The Paradigm of the Investment Development Path

This article describes how foreign direct investments (FDI) is one of the most important forces that influences the global economy. Along the last two and a half decades, the motivations and the field of interest of multinational enterprises (MNEs) mutated to new forms under the influence of globalization and the international financial crisis. Those two events had a dramatic impact on the evolution of inward and outward flow of FDI. The main scope of this article is to analyze the advance of the EU28 member states through the stages of the Investment Development Path (IDP) in the period from 1990 to 2014 and to explore the viability of the original model in nowadays global economy realities. The results show that FDI is useful to gauge the economics of lesser developed countries.

Investigating the Relationship between Foreign Direct Investment and Corporate Social Responsibility

Should regulatory incentives which incorporate the lowering of environmental and labor standards, generate life threatening and environmental repercussions, as well as those resulting in moral hazard and excessive risk taking levels, be encouraged? This chapter not only investigates whether central bank independence is positively correlated with inflation, but also highlights other variables which could impact the relationship between Corporate Social Responsibility and Foreign Direct Investment. It will highlight why a continuous need for updating of data is necessary given the inability to capture data specific variables and why the introduction of complementary standards would serve to bolster measures aimed at promoting financial stability and encouraging investors – rather than incentives aimed at diluting such standards. In so doing contributes to previous and current literature on the topic – by way of reference to investigations and studies which have revealed concerns in the ability to adequately capture data – particularly in light of the recent 2008/2009 Financial Crisis.

Dilemmas on OFDI Measuring and Interpreting

Foreign direct investments (FDI) seem to have been thoroughly studied in specialised literature. However the scope of available statistical data often significantly hampers or even prevents any in-depth analysis of the phenomenon. The dynamic economic processes lead to the formation of new linkages, new organisational solutions in international enterprises that co-exist with well described and recognised forms of FDI but escape proper monitoring of statistical institutions. The chapter discusses the different concepts of measuring and interpreting FDI to provide researchers helpful guidelines how to deal with the problems of different methodological dilemmas. A main conclusion is that data provided by official statistics are insufficient and incoherent, and analysis of the scale of OFDI engagement of enterprises (especially from emerging countries) carries some risk and its results should be approached with caution. The case study of Poland's statistics has been used to portray the most significant discrepancies and problems.

Quality Action to Accelerate Fair Accessibility Through Law of Telecommunication

This article describes how telecommunication has a strategic role in national development, which requires a large amount of funding in Indonesia, in spite of the limited financial support from the government. The dynamics of telecommunication law has provided a clear direction, from monopoly to healthy competition. It is important for foreign investment to be an option that needs to be harmonized with the applicable law of telecommunication. Four main constructs have been identified as important issues to be discussed are Social Welfare (SW); Global Village (GV); Foreign Direct Investiment (FDI); and Law Telecomunication (LT). In conclusion, two quality actions are proposed to accelerate fair accesibility through law of telecommunication in global village setting. The first quality action is to accelerate SW through fair accessibility in GV setting and FDI. The second quality action is to accelerate SW through fair accessibility based on FDI and LT.