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Author: Monica Das
Publisher: World Scientific
ISBN: 9814415928
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
It is not necessarily true that such income transfers would invariably reduce growth rates. The relationship between economic growth and income inequality depends on certain initial conditions. For instance, if the initial distribution of income is fairly unequal, growth induces greater equality. On the other hand, at high levels of per capita incomes, growth may raise inequality if the initial level of inequality is not very high. This brings a new dimension in the "inverted-U hypothesis." Based on econometric modeling of growth-inequality nexus, the book examines the patterns of growth and economic disparities in BRIC countries over long periods of time, including the recent high growth phase. Two inequality measures applied in this study are Gini coefficient and Theil's entropy measures, depending on data availability. Attempts have been made to identify the sources of inequality and the role of initial conditions in determining the patterns of development.
Author: Monica Das
Publisher: World Scientific
ISBN: 9814415928
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
It is not necessarily true that such income transfers would invariably reduce growth rates. The relationship between economic growth and income inequality depends on certain initial conditions. For instance, if the initial distribution of income is fairly unequal, growth induces greater equality. On the other hand, at high levels of per capita incomes, growth may raise inequality if the initial level of inequality is not very high. This brings a new dimension in the "inverted-U hypothesis." Based on econometric modeling of growth-inequality nexus, the book examines the patterns of growth and economic disparities in BRIC countries over long periods of time, including the recent high growth phase. Two inequality measures applied in this study are Gini coefficient and Theil's entropy measures, depending on data availability. Attempts have been made to identify the sources of inequality and the role of initial conditions in determining the patterns of development.
Author: Monica Das
Publisher: World Scientific
ISBN: 9814415936
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
The recent interest in the development processes of BRIC countries (Brazil, Russia, India and China) has been triggered by their high growth performance, but their political and social backgrounds are entirely different. This book traces the economic history of BRIC countries to understand their economic and social institutions. The only common theme in this growth story is the high levels of income disparities and poverty that are observed even during the high growth decades. In order to understand the interaction between economic growth, income inequality and poverty, the book develops a theoretical framework that incorporates a mechanism of uniform income transfers in a growth model, where economic growth is the result of accumulation. Income transfer mechanism operates in all countries in the form of a progressive taxation system, pension funds, government's anti-poverty programs, employment guarantee schemes, land reforms, etc. It is not necessarily true that such income transfers would invariably reduce growth rates. The relationship between economic growth and income inequality depends on certain initial conditions. For instance, if the initial distribution of income is fairly unequal, growth induces greater equality. On the other hand, at high levels of per capita incomes, growth may raise inequality if the initial level of inequality is not very high. This brings a new dimension in the “inverted-U hypothesis.” Based on econometric modeling of growth-inequality nexus, the book examines the patterns of growth and economic disparities in BRIC countries over long periods of time, including the recent high growth phase. Two inequality measures applied in this study are Gini Coefficient and Theil's entropy measures, depending on data availability. Attempts have been made to identify the sources of inequality and the role of initial conditions in determining the patterns of development. Each country's experience is unique, but the theoretical model goes a long way to explain their growth-inequality experience.
Author: Hartmut Elsenhans
Publisher: Stanford University Press
ISBN: 1503604918
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
Once among the fastest developing economies, growth has slowed or stalled in Brazil, Russia, India, China, and South Africa. What policies can governments enact to jump-start the rise of these middle-income countries? Hartmut Elsenhans and Salvatore Babones argue that economic catch-up requires investment in the productivity of ordinary citizens. Diverging from the popular narrative of increased liberalization, this book argues specifically for direct government investment in human infrastructure; policies that increase wages and the bargaining power of labor; and the strategic use of exchange rates to encourage export-led growth. These measures raise up the majority and finance future productivity by driving broader consumption and fostering investment within national borders. Though strategies like full employment, mass education, and progressive taxation are not especially controversial, none of the BRICS have truly embraced them. Examining barriers to implementation, Elsenhans and Babones find that the main obstacle to such reforms is an absence of political will, stemming from closely guarded elite privilege under the current laws. BRICS or Bust? is a short, incisive read that underscores the need for demand-driven growth and why it has yet to be achieved.
Author: Alain Verbeke
Publisher: Cambridge University Press
ISBN: 110862068X
Category : Business & Economics
Languages : en
Pages : 531
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Book Description
This text introduces students to core business concepts and comprehensively covers a range of key areas in international business.
Author: Maria Clara Couto Soares
Publisher: Taylor & Francis
ISBN: 1317560175
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
This series of books brings together results of an extensive research programme on aspects of the national systems of innovation (NSI) in the five BRICS countries — Brazil, Russia, India, China, and South Africa. It provides a comprehensive and comparative examination of the challenges and opportunities faced by these dynamic and emerging economies. In discussing the impact of innovation with respect to economic, geopolitical, socio-cultural, institutional, and technological systems, it reveals the possibilities of new development paradigms for equitable and sustainable growth. This volume analyses the co-evolution of inequality and NSI across the BRICS economies. It reveals the multi-dimensional character of inequality, in going beyond its income aspect to include assets, access to basic services, infrastructure, knowledge, race, gender, ethnicity and geographic location. In advancing valuable policy recommendations, the book argues that inequalities must be factored in development strategies given that benefits of innovation are not automatically distributed equally. Original and detailed data, together with expert analyses on wide-ranging issues, make this book an invaluable resource for researchers and scholars in economics, development studies and political science, in addition to policy-makers and development practitioners interested in the BRICS countries.
Author: Ramesh Chandra Das
Publisher: Taylor & Francis
ISBN: 1040039480
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
This book explores the levels of cooperation and the phenomenon of convergence among BRICS nations. It provides an in-depth look into the financial and banking systems among these rapidly developing economies and the steps they have taken to foster development and counter inequalities. Of the many factors in determining the income and wealth of a country as well as a group of countries, commercial bank credit, a well-known financial indicator, has been an important one. This book analyses the governance and structure of the New Development Bank and its effects on group members for peer growth and to defend against any external economic and political shocks. It looks at how much of an influence the commercial bank credit, or simply the credit, has upon the income levels of the BRICS member countries, how equitable they are, whether they are converging in credits and incomes, and other such issues. It also focuses on India’s credit aspects of inclusiveness and convergence. With a strong empirical model estimation, this book will be of interest to students and researchers of economics, finance, management, political studies, international relations, and international trade.
Author: Bruno S. Sergi
Publisher: Emerald Group Publishing
ISBN: 180382753X
Category : Business & Economics
Languages : en
Pages : 317
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Book Description
This volume focuses on core topics of economic disruption caused by the Covid-19 pandemic: changes in socio-cultural relationships, behavioural patterns and psychological attitudes governing human interaction, and government policies to stabilize the Indian economy and contribute to sustainable growth.
Author: Javier López Lara
Publisher: MDPI
ISBN: 3039360965
Category : Technology & Engineering
Languages : en
Pages : 246
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Book Description
This book presents 16 selected papers from the 7th International Conference on The Application of Physical Modelling in Coastal and Port Engineering and Science, Coastlab18. The conference was organized in Santander, Spain, from 22 to 26 May, 2018, by the Instituto de Hidráulica Ambiental de la Universidad de Cantabria, IHCantabria. Coastlab18 welcomed 175 attendees from 18 different countries. The technical program included three renowned keynote lectures and 120 presentations focused on theoretical and practical aspects related to physical modelling in the field of coastal and ocean engineering. Coastal and ocean structures, breakwaters, revetments, laboratory technologies, measurement systems, coastal field measurement and monitoring, combined physical and numerical modelling, physical modelling case studies, tsunamis, and coastal hydrodynamics were the main topics covered in the conference. This book attempts to cover, as completely as possible, all the topics presented during the conference. The papers were accepted after a peer-review process based on their full text.
Author: Chia-Lin Chang
Publisher: MDPI
ISBN: 3039360949
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.
Author: Evren Denktaş, Bengü Doğangün Yasa
Publisher: IJOPEC Publication
ISBN: 0956825699
Category : Political Science
Languages : en
Pages : 226
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Book Description
The concept of globalisation is essentially about the increasing economic, political, cultural and technological intergradation with increasing speed, depth and breadth. Globalisation has become a buzz word in many academic debates, espe- cially, amongst those who use the concept to describe the spread of global capi- talism, market, the declining role of the state, and globalisation of civil society. (Harvey, 2005; Harmon, 2009; Chomsky 1999; Saad-Filho and Johnston 2004). In short, Harvey defines neoliberalism as: . . . a theory of political, economic practices that proposes that human well-be- ing can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterized by strong private property rights, free markets and free trade. The role of the state is to create and preserve an institutional framework appropriate to such practices. The state has to guarantee, for example, the quality and integrity of money. It must also set up those military, defence, police and legal structures and func- tions required to secure private property rights and to guarantee, by force if need be, the proper functioning of markets. Furthermore, if markets do not exist (in areas such as land, water, education, health care, social security, or environmental pollution) then they must be created, by state action if neces- sary (Harvey 2005:2). This has become an all-encompassing term for differing economic and political projects. What essentially new liberalism has in common is that the state should be minimal, as the competition of the market will bring economic efficiency and choice. The crisis of capitalism in the late 1970s and 1980s has opened the gap for neoliberal ideas to have resonance as a solution to global capitalism. Despite their political, historical, geographical and economic differences, nearly every country in the world, especially, in the global south, has implemented neoliberal policies in some form. The policies have become an increasingly real alternative to over-come the predicament of the world economy. With the demise of Soviet ideology, the advocates of the free market liberalism in the world, particularly, in the USA, saw this as an opportunity to reassert their power globally. Hence, the globalisation of the world economy is claimed to ‘serve the great majority of the world’s people’, and it will liberate the poor countries be- cause they will have ‘free domestic and international trade and more open financial markets’ (Wade: 2004:38). At the core of globalisation lies the belief that a country must promote the pri- vate sector as the primary engine of its economic growth by shrinking the size of its state bureaucracy; increasing exports; privatising state-owned industries and utilities and deregulating capital markets (Freidman, 1999). The process that led to claim that the state, ‘that artefact of the eighteenth and nineteenth centuries – has begun to crumble’ (Ohmea, 1995: 7). With the international system, the borders are no longer necessary, and the international commerce would become free from the cumbersome constraints of state interference. However, the reality after nearly three decades of globalisation have not been drastically different from much of the world, the international system has yet to witness universalization of democracy or wealth. In fact, ‘one of the consequences of globalisation appears to have been the poor growth and polarisation of wealth’ (Morady & Siriner, 2011). Whilst ‘the free market ideology that has dominated the public discourse as it puts emphasis on the dominant criterion of maximising profit through the private sec- tor’, a more fundamental question is, ‘whether the market will be able to provide all the social, economic and political needs of the world’s people’ (Morady & Siriner, 2011), when the “bare logic” of capitalism is pitted against the cultural values of hu- man experience (Castells, 2000). Globalisation, even if it’s intended to meet basic economic, political and social needs of ordinary people, it has failed to deliver in much of the world. Indeed, this is noticeable in the area of gender equality. Their opposition to the globalisation has also been considerable with different social movements such as ‘anti Capitalism’ and ‘anti war movement’ have challenged the neoliberal agenda around the world. They have demonstrated their resentment in the process of economic, political and social unevenness, inequality between poor and rich, men and women, and the power of international organisations. The organisation of the current book comprises different articles dealing with vari- ous domestic, regional, and global economics, political and social issues. This book is mainly focusing on Turkey, but different authors have used different frameworks with empirical studies. We hope to provide an assessment of globalisation and its impact within the international system. The first article by Evren Denktaş and Bengü Doğangün Yasa is an attempts to ana- lyse Karl Marx and Max Weber’s work of social classes and its role in the economy and society. The article will argue that the middle class continues to play vital eco- nomic and political role, even though there has significant changes since globaliza- tion, especially in the developing countries. The current economic complexity has become centre of attention for economic sociologists. Consequently, Karl Polanyi’s concept of “(Dis)embeddedness”. Gülten Dursun’s paper will argue that the capitalist mode of production and distribution is within the field of economic system. Hence, as Polanyi argues the economy is im- mersed in social relations, i.e., it is not outside of this or independent. Sema Yılmaz Genç will investigate Ibni Khaldun’s economic contribution and his relevance in the contemporary globalized world. It will demonstrate that even though his work was articulated seven centuries ago, it continues to influence the modern academic literatures. Hilal Yıldız and Keremet Shaiymbetova investigate the relationship between in- come inequality and economic growth through empirical studies of BRIC (Brazil, Russia, India, China) countries. Employing The Kuznets Curve they show in the latter stages of development, transition from agriculture towards industrialisation will lead to a change in the direction of income – inequality relation. In the first stage, with an increase in income, inequality will increase, but in the latter stages of industrialisation, with increasing income, the inequality level will decrease. Figen Büyükakın, focuses on credibility of Central Bank of Republic of Turkey to identify the importance of reliability in the effectiveness of monetary policy. In the event that macroeconomic dynamics are out of balance in an economy, monetary policies cannot provide sufficient confidence or control inflation. Therefore, pos- sessing credibility for policy makers is vital in order to solve problems. She assesses CBRT’s credible monetary policy strategy performance in Turkish Economy in the last decade. Zişan Kılıçarslan assesses the importance of inflation targeting strategy in the Turkish economy. Using the Chow and Quant-Andrews structural break tests, she determined that the inflation targeting strategy applied in Turkey since 2002 had caused a structural break on the determined basic macroeconomic variables such as the consumer price index, exchange rate basket, budget deficit/GDP ratio, cur- rent deficit/GDP ratio and GDP growth ratio. The inflation targeting strategy is used with the aim of creating sustainability and permanence in price stabilization while fighting against inflation in the1990’s. İsmail Şiriner and Keremet Shayimbetova demonstrate the impact of globalisation on the Great Financial Crisis of 2008 and the financial stability. By focusing on CBRT’s monetary policy approaches since the 2007 crisis, they argue that the fi- nancial stability of the system requires an effective monetary policy for the stability of the economy as a whole. Murat Aydın, looks at the role of state in local development in the period after glo- balization in Turkey. With the 2008 economic crises, expansion of service indus- tries, structural unemployment, and decentralization have increased the responsi- bility of local development agencies. The state has continued to be the major actor, but working alongside of the local agencies; they have been responsible to regulate and implement policies to suit the market. Mustafa Doğan also looks at the local development issue, yet assessing the role of ecomuseums in Turkey. Whilst the principles of sustainable local development are now widely implemented across the world, at the same time are protecting cultural and natural assets. The article will provide an overview on ecomuseums: that they are focused on a specific place or ‘territory’, and on the relationship between the population and their environment, culture and local history. He will argue that ecomuseums have been utilized as a major means of promoting sustainable de- velopment in many rural areas of the world by conserving natural, historical and sociocultural resources of a locality, whilst recognisıng a place’s potential to pro- vide low-level tourism and economic/social opportunities. The empirical work of the paper is based on ecomuseum and social-economic development in Boğatepe village, in the province of Kars in Turkey. One of the consequences of globalisation is migration and gender as it is becom- ing a major socioeconomic study. The feminisation of migration as defining the number of women at international labour migration, has been increasing in recent years. Nilay Etiler and Kuvvet Lordoğlu will assess the health problems of recent fe- male migrants. They will argue that women migrants, are mostly employed in jobs that are appropriate to their gender roles such as housework or childcare. Whilst, the health of migrants as a whole deteriorate because of poor living and working conditions, the female workers suffer more, especially in the area of mental health. Ayhan Orhan focuses on the property rights of natural Resources in a globalised world. He examines the rapid change of natural resource distribution in since the 1990’s, which has added a new dimension to the concept of property rights. Hence, he argues that natural resources and property rights could not be treated indepen- dently from Multi National Companies or the states. As a last contributor of this volume of globalization, Farhang Morady argues that Iran’s strategy to balance between the US on the one hand, and China, Russia and India on the other, was a failure. According his determinations, the end of the Cold War and the emergence of new independent republics in Central Asia offered Iran the opportunity to become a vital actor in the geopolitics of the region. Iran was seen as a possible corridor between Central Asia, the Persian Gulf, and the Indian Ocean Region (IOR). Struggling against US policy of strategic isolation, Iran made concerted efforts to break out of it by cultivating closer ties with non-Western pow- ers. It used diplomacy, energy, and trade for the purpose of balancing its foreign re- lations. His paper will assess the strategic ambitions of Iran as a regional power and the degree of its success in combating Western imposed sanctions and the US mili- tary threat over the disputed nuclear programme. This ‘balancing against the West’ was the dominant approach during the Conservative presidency of Mahmoud Ahmadinejad. In the paper he figures out that it reflects a changed approach to serving Iran’s interest by working with, and not against, the West. Due to nuclear détente, growing strategic convergence with the US in Iraq and Afghanistan, and the American shift in emphasis to the Pacific, Iran has an iinvaluable opportunity to re-emerge as a crucial member in the Indian Ocean Region. We hope this addition of globalisation will provide some ideas to inspire academics and students not only to hat the world is facing, but some solutions as well.
