Search

Purpose The purpose of this paper is to examine relationship between corporate governance (CG) and firm performance for a set of 255 foreign-funded firms in the form of foreign direct investment (FDI) and private equity (PE). The authors employ a wide range of CG measures including board size, meetings, board gender and foreign ownership which are used as the proxy of globalisation and control variables like firm age, leverage, firm size and capital expenditure to arrive at a conclusion.Design/methodology/approach Panel data set of 255 (187 companies funded by foreign capital in the form of FDI, and 68 companies having foreign capital in the form PE) companies listed on Bombay Stock Exchange, for the period of eight years (2008–2015) are analysed by using static (fixed and random effects) and dynamic (generalised method of moments (GMM)) panel data specifications to examine the relationship among CG, globalisation and firm performance.Findings The empirical results of static model indicate the relationship between CG and performance of foreign firms, which are not very strong in India. This is due to the fact that most of the firms are not following the guidelines and regulations strictly in the initial period of sample years. Diversity in board is found as an important variable in accessing firm performance. And the authors also found that foreign firms are very particular about the implementation of CG norms. The results of GMM model highlight the interaction term of foreign ownership with governance indicators. CG is having a positive and significant impact over performance, inferring that higher foreign ownership (in the form of FDI and PE) in firm leading to positive effect on profitability.Practical implications The investor’s preference of financing a unit is guided by the performance of a firm. Investors are more inclined towards high-performing firms, and hence higher profitability leads to higher inflow of capital. The result indicates that higher accounting and market performance may be achieved by good governance practices, in turn, leading to reduced agency costs. Countries with high governance scores attract more of foreign capital. Similar to the best governed countries, the companies having good governance practices attract more foreign inflows in the form of capital.Originality/value While previous literature considered a single measurement framework in the form of a CG index, the authors tried to incorporate a range of CG indicators to study the effect of globalisation and CG on firm performance. The authors segregated foreign-owned funds into two parts, especially FDI and PE. This paper examined heterogeneity in the form of FDI-funded and PE-funded firms, as no prior literature is available which has evaluated different sets of foreign funds simultaneously on CG. [ABSTRACT FROM AUTHOR]

Purpose This study aims to identify factors that influence corporate environmental disclosure (CED) quality.Design/methodology/approach Using content analysis, an index and scoring scheme were applied to annual reports, stand-alone reports and corporate homepages of a sample of 116 oil and gas companies in 19 developing countries (DCs).Findings The results of this study reveal that out of 12 hypothesized variables, only 5 variables (company size, foreign ownership, profitability, leverage and membership of industry’s associations) are positively related to the CED quality.Practical implications The study has implications in enhancing the understanding of CED practices by oil and gas companies in DCs and the factors that influence the quality of such disclosure. Thus, the results of the study serve as input toward the development of improved regulations concerning CED for the oil and gas industry and provide guidelines to the regulators to make relevant decisions on social and environmental information items to be incorporated in the regulatory standards.Originality/value The current study attempts to fill the gaps in the literature by examining CED quality (rather than its quantity), concentrating on environmental disclosure made on the three main mediums of reporting. The study also extends previous research of CED by investigating some factors that have the potential to influence the content-quality of environmental disclosure, such as type of company (independent or constrain company) and industry’s association membership which have never been examined in the related literature. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to assess the dynamic impact of financial inclusion on economic growth for a large number of developed and developing countries.Design/methodology/approach This study uses some panel data models such as country-fixed effect, random effect and time fixed effect regressions, panel cointegration, and panel causality tests to examine the linkage between financial inclusion and economic growth. Panel cointegration is being used to test the long run association between financial inclusion and economic growth, whereas panel causality test is used to find the direction of causality between financial inclusion and economic growth. The data on financial inclusion are taken from Sarma (2012) for the period 2004-2010.Findings The empirical findings reveal that there is a positive and long run relationship between financial inclusion and economic growth across 31 countries in the world. Further, panel causality test shows a bi-directional causality between financial inclusion and economic growth Thus, the study confirms that financial inclusion is one of the main drivers of economic growth.Research limitations/implications This study has two limitations. First, this study considers only banking institutions in the analysis. Second, the period tested for the long run relationship is not long enough.Practical implications This study empirically measures the quantitative impact of financial inclusion policies pursued across the world. The study also suggests that policies emphasizing financial sector reforms in general and promoting financial inclusion in particular shall result in higher economic growth in the long run.Originality/value This study attempts to assess the long run relationship between financial inclusion and economic growth with the help of a multidimensional index of financial inclusion. Therefore, this can be a valuable contribution to the banks and policymakers. [ABSTRACT FROM AUTHOR]

Purpose Some recent empirical studies have found that developing countries are more prone to external terms-of-trade shocks compared to developed nations. With this background, the purpose of this paper is to the question of whether developing countries possess any built-in mechanism that can cope with external terms-of-trade (TOT) shocks both theoretically and empirically.Design/methodology/approach This paper uses a two-sector, full-employment general equilibrium model with endogenous labour market distortion to conduct its theoretical analysis and then uses an annual panel dataset of 13 small developing countries over the recent time period of 2000-2012 to substantiate its theoretical findings.Findings Theoretically, this study finds that developing countries possess an inherent shock-absorbing mechanism that stems from their peculiar institutional characteristics and can lessen the gravity of detrimental welfare consequence of exogenous TOT movements. This analytical result has been found to be empirically valid based on a panel dataset of 13 countries from 2000-2012.Originality/value The authors’ analyses suggest that that the developing countries should take utmost caution before adopting the policy of labour market reform because these might impair the effectiveness of their in-built shock-absorbing mechanism against adverse international price movements. [ABSTRACT FROM AUTHOR]

Purpose Developing countries in many parts of the world have experienced a disturbing trend in the differential pace of economic development among urban and rural communities. These inequities have been observed in education systems in Asia, Africa, and Latin America where researchers have documented differences not only in resource allocation but also in the academic performance among students in urban and rural schools. Recently researchers have shifted their focus from examining financial and physical resources to investigating the nature and impact of differences in human resources. The purpose of this paper is to examine differences in school organization processes associated with learning-centered leadership and teacher learning among urban and rural primary schools in Thailand. Teacher trust and teacher agency were proposed as possible mediators of leadership effects on teacher learning.Design/methodology/approach This study employed a cross-sectional survey design. The authors collected survey data from 1,011 teachers and 60 principals in 30 urban and 30 rural primary schools in Thailand. Multi-group confirmatory factor analysis, structural equation modeling, and bootstrapping were used to analyze the proposed model of leadership and teacher professional learning. More specifically, data analysis was aimed at determining the nature of relationships among the constructs in the conceptual model and whether patterns of leadership and teacher learning differed in urban and rural primary schools.Findings The results affirmed a model whereby school leadership exerted significant indirect effects on teacher learning in both urban and rural primary schools. Data analyses determined that the path of leadership effects moved through trust to agency and then to teacher professional learning. Thus, while the authors found a strong direct effect of leadership on teacher trust, there were only small direct effects of leadership on teacher agency and no meaningful direct effects of leadership on teacher professional learning. Thus, the research affirmed a full mediation model of leadership effects on teacher learning. Finally, the study also affirmed that the measured variables were perceived as significantly stronger in the urban schools than in the rural schools.Social implications The research expands on prior research on the “achievement gap” in Thailand by demonstrating the existence of a similar “human resource gap” when comparing urban and rural school leaders and teachers. This study implies that addressing the gap in student achievement will require action aimed at building the capacity of the principals and teachers who work with the rural pupils.Originality/value These results suggest differences in the quality of human resources between urban and rural primary schools in Thailand. There may be potential benefit to be gained from providing training focused on “learning-centered leadership” for principals and middle level leaders, as well as expanding access to quality professional development opportunities for rural teachers. [ABSTRACT FROM AUTHOR]

Purpose Although prior research has highlighted the importance of foreign direct investment (FDI) on a country’s internationalization, it has largely focused on developed countries. As a result, the FDI performance of a developing country, which differs fundamentally from that of developed countries in their environment, remains unclear. Under the newly development environment, the traditional FDI theories have been challenged by the increasing investments from emerging and transition economies. The theory system needs a fresh situation’s supplement urgently.Design/methodology/approach On the basis of a literature review, this paper constructed an empirical model to further study the moderating effects of context-specific factors on the influence of inbound foreign direct investment (IFDI) on outbound foreign direct investment (OFDI). China was chosen as the representation of a developing country, and its data of mutual investments with 125 countries from 2003 to 2014 were used to carry out hypothesis testing.Findings The analysis and results of this paper suggested: first, for China, the overall influence of IFDI on OFDI is positive. That is to say, IFDI’s positive spillover effect is greater than the negative competition effect. Second, innovational distance’s effect on FDI is complicated. It can either be positive or negative, which calls for further investigation. Third, economic distance negatively affects OFDI and negatively moderates IFDI’s effect on OFDI, especially the export. To some extent, the moderating effect that resulted from the competition effect will reduce overseas investment by extruding some of the local enterprises. Fourth, cultural distance’s effect is closely related to the spillover effect that will positively moderate IFDI’s influence on OFDI.Originality/value This paper enriched the international investment theoretical system by adding a mechanism of multiway international investment of a developing country. The research also has a guiding significance for developing countries’ governments in coordinating mutual international investments. Also, these results have important implications for how policymakers promote OFDI and put forward new theoretical avenues for conceptualizing the internationalization process. [ABSTRACT FROM AUTHOR]

Purpose Increasing the share of small and medium enterprises (SMEs) in public procurement through targeted support policies is often fraught with organisational and institutional challenges as can be seen from the experiences of many developed countries. This has profound implications for emulating such policies in developing countries where administrative capacities may be low for efficient policy management. The purpose of this paper is to widen the canvass of SME procurement policy discourse by exploring a developing country context.Design/methodology/approach The study provides qualitative assessment using insights from policy implementation-related theories. Due to limited reporting of target data on SME participation in India, the study conducts analysis based on key informant interviews with 20 public sector enterprises.Findings The evidence drawn from India mainly shows uneven performance among the procurers in achieving the SME procurement targets, and reveals serious policy implementation shortcomings. These findings correspond and complement the earlier studies on SME procurement in the developed world. The Indian case additionally reveals barriers which may be common to other developing countries such as the lack of policy-administrative capacity compounded by the prevalence of “efficiency syndrome” on the part of procurers.Originality/value By providing an in-depth developing country-specific assessment, the study helps informing assumptions underpinning SME-oriented procurement policies. The study, therefore, fills a gap in the literature on SME-oriented public procurement policy-making and its execution. [ABSTRACT FROM AUTHOR]

Purpose Food safety in emerging and developing regions is receiving increased attention from economists, researchers and policymakers. The purpose of this paper is to provide a review of the literature on the economics of food safety in Asia and Sub-Saharan Africa (SSA). Of interest are studies exploring consumer demand and producer behavior regarding food safety. Particular attention is given to areas in need of additional research. The studies’ common implications for future research are discussed.Design/methodology/approach Two English language searches were conducted in the summer of 2013 to identify relevant studies on the economics of food safety, one each in Google Scholar and Web of Science. The authors carefully reviewed the abstracts of these studies for content, and select papers were identified that capture overarching themes found in the literature. Findings are presented by region.Findings Consumers in developing countries will become increasingly aware of food safety issues as urbanization proceeds and incomes continue to rise at robust rates. However, assuring food safety in modernizing food systems involves significant costs, and current incomes in developing SSA are far lower than in Asia. The authors find that overall consumer awareness of food safety problems in SSA is low relative to Asia. Moreover, knowledge of producer behavior and consumer demand for food safety in developing countries is very limited.Research limitations/implications Limitations include a lack of information available on domestic food safety issues and overall knowledge of how food safety affects developing agrifood systems.Originality/value The findings from this review contribute to a better understanding of the economics of food safety in emerging and developing regions. [ABSTRACT FROM AUTHOR]

Purpose The International Financial Reporting Standards (IFRS) have been adopted by 140 countries around the globe, including the G20 countries. Most of the prior literature focuses on adoption issues in developed countries. Due to the paucity of research on implementation issues in developing countries, the purpose of this paper is to explore the impediments of IFRS implementation in a developing country from 1998 to 2014 based on the auditors’ perceptions and documentary analyses.Design/methodology/approach Three rounds of interviews (2010, 2012, and 2014) from a total of 75 auditors (including 12 internal auditors and 13 external auditors) were conducted and enforcement documents from 1998 to 2010 were evaluated. The purpose of the three rounds of interviews was to explore the reflection on the changes which the interviewees have experienced over a five-year period.Findings Using institutional isomorphism, the results suggest that policy makers should focus on several factors to implement IFRS effectively, including low audit fees, a lack of qualified accountants, a lack of interest in IFRS by managers of some companies, a culture of secrecy, and a family-based private sector. Surprisingly, chartered accountancy firms are able to continue their work because of a culture of non-punishment for violating rules and the absence of any reliable exercising of due care or professional ethics in Bangladesh. Regulators such as the Bangladesh Securities and Exchange Commission (BSEC) and the Institute of Chartered Accountants of Bangladesh are not inclined to enforce actions against corrupt chartered accountant firms. This raises question about the professional integrity of auditors as well as regulators. Unlike, Albu et al. (2011) (World Bank as coercive) and Hassan et al. (2014) (western influence as coercive), the findings of this study imply that coercive isomorphism (regulatory authorities in Bangladesh) should be more proactive to ensure a successful implementation of IFRS.Research limitations/implications This study has some limitations, including transcribing information from Bengali to English and some enforcement documents were not available on the BSEC website. This last limitation is mitigated by the fact that a substantial number of enforcement releases (1,647 enforcement notices for a 13-year period) are analysed and three rounds of interviews were conducted.Originality/value The findings of this study contribute to, and advance the incremental knowledge of IFRS implementation issues and auditing literature in a developing country’s experience to policy makers (e.g. World Bank, IMF, Basel Committee, G20, IOSCO, and IFAC). The findings may be generalised to other developing countries that are facing effective implementation of IFRS. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to study the effectiveness of insider trading enforcement actions in India and international dimensions.Design/methodology/approach The research is based on the insider trading regulations and amendments made during the period 1992-2015.Findings The notable observation of the study is the dearth of insider trading conviction and the paucity of prosecution for insider trading offences in India. It is difficult to resist the conclusion that surveillance and enforcement matter more than the drafting of the relevant statutes and regulations in emerging markets. Whereas, developed countries have a better record of prosecution than emerging markets.Research limitations/implications Future research may explore the factors that hinder effective regulation and recommend new methods to increase the impact of Securities and Exchange Board of India insider trading regulation.Originality/value The current paper presents guidance for the foreign institutional investors, regulators and market participants on insider trading regulation and prosecution in India. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine the influence of income inequality on cooperative propensities, and thus the ability of individuals to resolve collective action dilemmas.Design/methodology/approach The paper presents a meta-study of 32 developing country lab experiments correlating cooperative behaviour with prevailing Gini coefficients. Furthermore, the paper conducts standard dictator- and public goods game (PGG) experiments with culturally and demographically similar subject pools in two West African countries characterized by high and persistent variation in national income inequality.Findings The meta-study findings of a significant negative relationship between income inequality and contribution levels in the PGG are corroborated by the own laboratory experimental findings that participants in more unequal Nigeria are significantly less altruistic and exhibit significantly lower propensities to cooperate than their more egalitarian Ghanaian counterparts. Moreover, the latter findings are robust when controlling for personal income levels.Practical implications The findings have nontrivial implications for collective action theorists and practitioners seeking to elicit tacit cooperation in developing countries.Originality/value The major contributions of this paper are the novel meta-analysis and the first attempt to examine the influence of personal income levels on cooperative behaviour in societies characterized by differential levels of income inequality. [ABSTRACT FROM AUTHOR]

The aim of this paper is to analyse whether institutional factors determine the level of corporate governance compliance among major listed companies in emerging markets of Latin America, a region characterized by a poor legal system, highly concentrated ownership structures, and capital markets relatively less developed. The paper used an unbalanced panel data consisting of 826 observations of the highest ranked companies on the stock exchange indices of Argentina, Brazil, Chile and Mexico during the period 2004-2010. The results provide strong empirical evidence that board independence, ownership concentration and stakeholder orientation affect positively corporate governance ratings, while board size decreases corporate governance compliance in Latin American countries. The study fills a gap in the Latin American literature, providing useful information for determining policies on corporate governance and, in general, for managers and investors of listed companies in Latin America. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to examine the predictability of remittances in individual developing countries. It achieves this objective by testing for mean reversion (i.e. stationarity) in the monthly remittance series reported to the World Bank by 21 developing countries. Design/methodology/approach -- Unit root tests on remittance time series are undertaken using three tests -- the augmented Dickey-Fuller test, the Phillip-Peron test and the Kwiatkowshi, Phillips, Schmidt and Shin test. Stationarity of series in levels would indicate mean reversion and predictability of remittances. Findings -- The paper finds significant evidence of mean reversion and hence predictability in remittance inflows in 17 developing countries. Practical implications -- Remittance inflows, which have become an important source of external finance for many developing countries, are not random flows but a stable and predictable stream of financial flows. Originality/value -- Prior research has focused on volatility of remittances in comparison with other capital flows and then inferred stability from them having lower volatility. Using available monthly data, this paper is the first to directly test for mean reversion and hence predictability of remittances. Paper type Research paper [ABSTRACT FROM AUTHOR]

The article presents a study which determines the appropriate framework for the adoption of electronic commerce (e-commerce) in developing countries such as Iran. Topics discussed include a description of the concept of e-commerce, factors that influence the adoption of e-commerce, the use of survey techniques and statistical tools such as Cronbach's Alpha reliability test and Pearson's correlation to collect and evaluate the data, and a detailed analysis of the results.

Purpose – The purpose of this paper is to build a case against strategic equifinality. This is accomplished by employing hybrid ideal types approach and testing the effect of these strategic types on firm performance among service firms in the context of a developing country. Design/methodology/approach – Data were collected via a self-administered survey. The final sample of this study encompassed 169 ideal type hybrid companies operating in the tourism industry in Mugla, Turkey. Findings – The research findings indicate that prospectors and hybrid prospector-analyzer (PA) orientations outperform defenders based on several financial and non-financial performance measures. However, all other strategic orientations show identical performance. Research limitations/implications – The research findings imply that adopting a hybrid strategy is a viable option. In addition, SMEs in developing countries should exercise some caution when deciding to adopt a defender strategy. Originality/value – This study uses hybrid ideal types for service firms in a dynamic business environment in a developing country. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to address the future role of emerging economies in the global marketplace. The paper highlights current trends in the global market and the changing role of emerging economies. Design/methodology/approach - The paper discusses various perspectives on the role of emerging economies in a globalized world. The paper relies on recent debates on the state of the global economy and the changing positions of emerging economies in the world market. Findings - The paper devises six categories for today's emerging economies. These are: advancing player, reluctant player, repositioning player, the defender, chained player, and retreating player. These classifications set the stage for a thoughtful discussion on the potential roles of emerging economies in a world that is characterized by constant changes and alternating positions of major players. Originality/value - The paper provides unique perspectives on emerging economies, while refuting those who attempt to marginalize their roles in today's marketplace. It makes a powerful argument that in the era of globalization neither the developed world nor the emerging economies can lead without the other. [ABSTRACT FROM AUTHOR]

Purpose – In this paper, the authors study the critical success factors for deploying total productive manufacturing (TPM) programs in the Egyptian fast moving consumer goods (FMCG) companies. The paper aims to discuss these issues. Design/methodology/approach – The authors study five Egyptian FMCG companies that have deployed TPM. Data were collected through interviewing group of middle managers in each company in addition to the TPM manager. Site visits were conducted for the purpose of data verification. Findings – The research identified nine factors affecting the success of TPM deployment. The importance of each of those factors depends on the stage of the TPM deployment maturity at the company. Originality/value – The main practical implication of this finding is to guide companies undergoing a deployment of TPM, particularly in developing countries, to focus on the factors that are most pertaining to the level of their deployment maturity. [ABSTRACT FROM AUTHOR]

The article presents a research which assesses the international efforts in fighting corruption and their implications for developing countries. It discusses the globalized character of corruption in the modern world together with methods applicable to combat the problem. It notes that the investigations focuses on the policies at the organizational level and by sector highlighting the money laundering and bribery, and two economic crimes that are widespread in the developing world. It identifies major trends in the international instruments to fight corruption and assess their efficiency.

Purpose — The purpose of this paper is to measure the extent of the adoption of human resource management (HRM), the existence of a formal HR strategy, and the development of the HR function in the Barbados hotel industry compared with Hoque's sample of hotels in the UK. Design/methodology/approach — A quantitative survey, covering 46 hotels out of a population of 75 hotels was conducted with the respondents being the hotel's management: a general manager, HR manager or line manager. Findings — It was found that the adoption of human resource (HR) practices was more prevalent in Barbados hotels than in the UK sample. With respect to the existence of a formal HR strategy, the results were mixed. The results also show that in many respects the Barbados hotels are ahead of their UK counterparts in the development of the HR function. Research limitations/implications — The research focused on a small sample in a developing country. In addition, responses were obtained from top management rather than all levels of staff. Practical implications — The findings about HR practices were based on management assertions. There is need for a follow-up with more tangible evidence. Originality/value — The paper highlights the importance of HR practices in a developing country. These findings were unexpected, given that the UK is a mature western economy, where Barbados is classified as a developing country. They may be explained by the better-developed formal systems for the management of employment relations at an industry-level in Barbados. [ABSTRACT FROM AUTHOR]

This paper examines the effects of foreign aid type on human well being. Cross-country regressions revealed aid for education and water to be positively correlated with human well being in low-income countries while aid for education and health are positively correlated with human well being in lower, middle-income countries. The results also confirm growth in output and gross domestic investment to be positively associated with human well being in low- and lower-middle-income countries. In the low-income countries, it is also found that unproductive government expenditure, conflicts and rural populations are negatively correlated with human well being. Conflicts and rural populations are also negatively correlated with human well being in the middle-income countries. [ABSTRACT FROM AUTHOR]

The notion of globalization was an emerging trend during the course of the past century, and the notion of progress has been a basic tenet of the Western paradigm throughout the entire past millennium. Given the desperate situation in which large segments of the world find themselves and the recent intensification of international terrorism, this paper investigates the roots of the notion of progress, and discusses its potential impact on globalization during the third millennium. Basically, do we have real progress as felt in the industrialized West, or simply the appearance of it as feared by third-world nations? And, if so, what can be done to help? To this important question, this paper responds with "guarded optimism." Its first section describes the prevalence of violence in the world of today. The second section recounts the gradual emergence of a planetary consciousness, and examines it critically to detect whether it is a sham or for real. The third section outlines the developmental problems that beset underdeveloped countries, and discusses trade as the most effective means already at work for building international networks. Finally, the paper's fourth section presents the ascending role of scholars in promoting effective networks among the nations of the world. In spite of its inauspicious beginnings, the third millennium has the potential for continued progress, and our institutions could become increasingly involved in forging effective international networks. [ABSTRACT FROM AUTHOR]

Analyzes the shortcomings of the planning approaches to tourism development in developing countries by exemplifying the points made with special references to Turkey. Defects in the planning approaches to tourism development; Conclusion that there is a need for political stability, establishing supportive institutions and decentralization to develop and implement an appropriate contemporary tourism planning approach.

This article focuses on the socioeconomic situation of the least developed Pacific Island nations, namely the Melanesian countries of Solomon Islands and Vanuatu, the Polynesian countries of Samoa and Tuvalu, and the Micronesian country of Kiribati. All the least developed countries of the Pacific are micro-states relatively isolated geographically from the larger markets of the world where both their small size in terms of their total income activity, total levels of population and small internal markets create considerable natural economic disadvantages for them as do their relative isolation from the rest of the world. Social conditions as highlighted by widely used indicators improved in the five Pacific least developed countries in the 1990s compared to the 1980s but human development indicators remained low, as can be evidenced from the similarity of the Human Poverty Index of Vanuatu and that of Bangladesh. The importance of merchandise exports of these Pacific island countries varies greatly as a percentage of their gross domestic product and as a contribution to foreign revenue. Infrastructure is quite inadequate in these least developed Pacific countries and individual countries have varied in their ability to improve their infrastructure.

A perplexing problem that has challenged emerging economies in their quest for sustainable economic development has centered around their ability in coping with currency crises. This chapter explores how emerging economies in parts of Asia and Latin America have learned to cope and in some cases overcome the problems associated with rapid growth on the one hand and foreign exchange difficulties on the other. The authors explain the Asian financial crisis of the late nineties through fundamental breakdowns in economic principles, the failure of the much admired East Asian miracle under Asian circumstances, and the instability introduced to the Asian environment through rapid, short term, quick-return-seeking capital flows. [ABSTRACT FROM AUTHOR]

Abstract E-Commerce capabilities can help boost a country's competitiveness and shift the worldwide competitive arena because of the efficiencies gained through Internet technologies. But many countries lag behind in the e-business race, and in many cases, the e-business laggards are those countries on the bottom of the traditionally measured worldwide competitive rankings. The reasons are three-fold: language, education and technical infrastructure. But many governments are taking steps to address these issues because they understand that the Internet presents developing nations the opportunity to bolster their economy. The authors recommend that private industry look to investing in developing countries and that governments develop policies and regulations that support the establishment of a reliable technical infrastructure upon which thriving e-businesses can be built. [ABSTRACT FROM AUTHOR]

Ordinary Third World people (as opposed to the elites) find tourism in its present form highly exploitative and socially damaging, a new form of imperialism. It is characterised by gross economic disparities between tourist and host, racism and the flouting of economic and social rights of communities. A global code of ethics will only tinker with the problem, the roots of which lie in a profit-driven system which disregards social costs. The beginnings of a new, just tourism order requires governments to provide basic protection to powerless communities and their environment, and Christian churches to exercise moral authority to bring about justice. Above all, Northern tourists and their NGOs need to develop solidarity networks with the poorer communities, help fund community projects and think of ways of encouraging reciprocal flows from South to North. Keywords Capitalism, Race relations, Rights issues, Third World, Transnationals [ABSTRACT FROM AUTHOR]

Studies the social consequences of reform in transitional economies. Loss or diminution of a social welfare net to widespread unemployment; Countries affected by economic transition; Adoption of accelerated and gradual policies by countries in transition; Restructuring of economy with macro and microeconomic privatization.

Focuses on the lack of macroeconomic stability which causes low economic growth in developing economies. Need for institutions that are compatible with democracy; Need for institutional change to start from legal reform; Need for an elite bureaucracy based on competitive selection criteria; Central banks' need for independence from the executive branch.

Presents information on a study which focused on the effects of financial intermediation on economic growth in developing countries, and the channels which the effects are bought about. Identification of the two channels; What models were used in the study; Estimation of the models with cross-sectional data; Findings of the study.

Describes a model for determining the mode of timing foreign investment location in less developed countries. Effect of production environment differences on foreign investment timing and mode; Relative efficiency gap and the variable cost differential between producing at home.

Present information on the economic contribution of non-timber forest products from India. Role of agriculture in rural economies of developing countries; Economic welfare in terms of per capita income; Community's participation in forest management; How weather conditions impact on income streams in developing countries.

Presents a review analysis of literature on economic development. Growth performance of developing countries over the last forty years or more; Bond between agriculture and industry; Relationship between state, development strategies and international trade; Concerns voiced relating to non-renewable sources and environmental degradation in the context of growth; Reflections of changes in the world economy; Rise and decline of nations; Books reviewed.

Attempts to model the informal sector and its links to other parts of the developing economy. Roles and characteristics of the informal sector; Development of a model of a dual economy which can be used to characterize the relationship of the informal sector to the rest of the economy; Two types of dualism; Analysis of the employment profile during modernization.

Discusses the division of developing countries into categories for stabilization-policy purposes. Division between countries that are and are not primary-export-dominated (PED); Implication that export supply and import demand are highly inelastic to relative prices; Distinction between economies that have and do not have a large enough domestic bond market.

Discusses possible consequences and causes of export instability in developing countries. Factors that affect the coefficient of export determination; Impact of export instability on economic growth coefficients; Relationship between the measures of instability and growth of export and import capacity. [ABSTRACT FROM AUTHOR]

Discusses possible causes of export instability in developing countries. Implications of cyclical variations in income on country markets; Important markets for primary commodities entering international trade; Adjstment of trade and production volume; Effect of price changes on supply. [ABSTRACT FROM AUTHOR]

Discusses domestic consequences of export instability in developing countries. Factors involved in the transmission of instability problems; Relationship between the type of production system and the consumption and saving behavior of producers; Maintenance of consumption levels in below-trend income periods. [ABSTRACT FROM AUTHOR]

Data on shift-working, annual hours and employment are used to derive alternative measures of capital utilisation in seven countries. There is a positive relationship between utilisation and capital intensity, and utilisation levels in developing countries are significantly higher than in industrialised countries. Inter-country comparisons of capital productivity are made by comparing industries with similar levels of capital per production worker. It is shown that output per input of capital services in some developing countries is half that of comparable industries in industrialised countries. However, the higher levels of utilisation in developing countries partially offset these low values for the productivity of capital services. Data on labour productivity and earnings are combined to measure labour costs per unit of output and thus throw light on the overall competitive position of industry in the different countries. [ABSTRACT FROM AUTHOR]

We question whether increasing inequality accompanies growth in LDCs. Most cross-section studies claim that it does. Our fourteen LDC cross-section is similar to others, but changes over time in these LDCs do not indicate increased inequality with growth. [ABSTRACT FROM AUTHOR]

Explores reasons behind the emergence of multinational corporations (MNC) in less developed countries. Factors contributing to MNC growth; Operational characteristics; Impact of MNC on the process of economic self-reliance among Third World countries.

Discusses the conceptual and operational problems of accountability, focusing on the plight of the people in the developing countries who are victims of inadequate accountability. Environmental setting of, and international concern on, accountability; Nature of accounting services and role of accountants in public finance; Purpose of political accountability; Issues of continuity, stability and accountability.

Looks at the growing economic power of emerging nations, focusing on the implications of this power for the world-wide strategies of multinational corporations (MNCs). Strategies which MNCs can introduce in order to exploit opportunities in liberalizing economies; Identification of factors influencing these choices; Description of a framework of set of defensive strategies which domestic firms can use to respond to the offensive strategies of MNCs.

Discusses the relationship between the marketing system of a less-developed country and its economic development. Theory of marketing and economic development; Market and marketing system in developing countries; Evolution of the economic development and marketing system; Operationalization of the relationship.

The article focuses on the integration of technological innovations in the market economy of China. It cites various technological developments in the country, including the video compact disc (VCD) players, MPEG-1 technology for video distribution and DVD technologies. It states that the progress in the VCD player industry in the country has offered an opportunity to examine various principles related to the innovations among catching-up countries. It adds that the companies in the developing countries may benefit from the way their industry is neglected by the developed countries in terms of product launches.

Analyzes consequences and causes of export instability in less developed countries. Severity of instability problems in developed countries; Relationship between instability in export earnings and instability in proceeds from visible exports; Possible policy responses on policy information. [ABSTRACT FROM AUTHOR]

The issue of export instability in developing economies is a major issue in economic development and has given rise to a voluminous literature. The debate has centred on the causes and measurement of instability and its consequences for the domestic economy. This review article examines these debates, sets out the competing theoretical stances and discusses the empirical findings. The direction of the current debate is summarised. [ABSTRACT FROM AUTHOR]

Presents China's middleclass and developing countries' spending patterns as of June 1994 by the Futures Group, Glastonbury, Connecticut.