Global Imbalances: The Role of Institutions, Financial Development and FDI in the Context of Financial Crises

Silva, Carlos A.; Ordeñana, Xavier; Vera-Gilces, Paúl; Jiménez, Alfredo

doi:10.3390/su13010356

Cited by 6 publications

(3 citation statements)

References 40 publications

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“…An interesting research is presented by the work of Silva et al (2021). They examine the role of the quality of institutions, financial development and FDI in addition to standard determinants of the current account.…”

Section: Discussionmentioning

confidence: 99%

Analysis of Factors Determining Global Payment Imbalances in 2000-2019

Twarowska-Mol¹,

Twarowska-Ratajczak²

2021

ERSJ

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Purpose:The aim of the paper is to identify and assess the impact of the determinants of global payment imbalances in 2000-2019. Design/Methodology/Approach: The study used the desk research method, including critical analysis of the recent literature and econometric methods of data analysis. The assessment of the evolution of global payment imbalances was carried out using the index of global payment imbalances (GI), while regression analysis based on panel data was used to assess the impact of factors influencing payment imbalances. Findings: The research proves that the factors significantly influenced the current account balances (CAB) in the analyzed countries were, real effective exchange rate, GDP growth, household consumption and government consumption, investment, government budget balance, terms of trade, and crude oil trade balance. Practical Implications: The conducted analyses allowed to formulate several recommendations for economic policy. China's exchange rate policy ceased to be the key factor generating global payment imbalances. Moreover, the change in China's economic model of reducing the role of external drivers of economic growth (export demand) and increasing the role of internal drivers (domestic demand) contributes to reducing China's external imbalances. Whereas, the sources of the U.S. current account deficit are particularly internal factors (domestic absorption). The government budget balance is one of the most important factors determining the CAB. Reducing government spending, can become an effective instrument to improve the current account balance. In addition, the balance of crude oil trade is a factor that has a large impact on the CAB. The energy transition of countries towards renewable sources can reduce global payment imbalances. Originality/value: The results contribute to the discussion on the determinants of the global payment imbalances. In this approach, a comprehensive assessment for all countries and by group is possible.

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Section: Discussionmentioning

confidence: 99%

Analysis of Factors Determining Global Payment Imbalances in 2000-2019

Twarowska-Mol¹,

Twarowska-Ratajczak²

2021

ERSJ

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“…Towards the middle of the 1990s, some macroeconomic fundamentals deteriorated. Some claim that systemic and policy distortions were reflected in the crisis [21]. American dollars was formed in comparison to the local currency in 1997, just like Thailand did.…”

Section: Asian Regional Study's Purposementioning

confidence: 99%

The impact of operational excellence and innovation on green manufacturing in Southwest Asia: The Republic of Yemen as a model

M¹,

Ghumre²

2023

Int. J. Sci. Res. Arch.

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Green manufacturing is globally recognized. However, there is a paucity of empirical data in the literature on how green manufacturing can be adopted by medium-sized firms in developing countries, including Southwest Asian countries such as the Republic of Yemen with volatile and uncertain business environments. This study examines the impact of operational excellence and innovation on the green manufacturing of medium industrial enterprises in the Republic of Yemen, based on the literature on operational excellence and innovation. Using Smart PLS 3.0 software, partial least squares structural equations modeling was used for (243) valid questionnaires based on a sample of (10) medium industrial companies in the Republic of Yemen. The results show that a variety of factors, including the adoption of a national policy that supports the idea of green manufacturing at the national level, can encourage green manufacturing in medium industrial firms. However, the application of operational excellence and innovation in a participative management approach and collaborative culture at the company level has a beneficial effect on and encourages the green manufacturing of such businesses. This study adds to the body of knowledge regarding green manufacturing and how it applies to the manufacturing of medium-sized firms in unstable emerging countries political and economic surroundings like the Republic of Yemen. Moreover, the research findings highlight the importance of operational excellence and innovation for medium-sized industrial enterprises operating in a highly competitive and volatile market.

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“…Some macro-economic fundamentals have worsened in the middle of the 1990s. Others argue that the crisis reflected structural and policy distortions [21]. Like Thailand, they had done in 1997 that developed the US dollar against the local currency.…”

Section: Rationale Of Asian Regional Studymentioning

confidence: 99%

Organization’s Sustainable Operational Complexity and Strategic Overview: TISM Approach and Asian Case Studies

Sushil

Anbarasan

2021

Sustainability

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As a region, Asia comprises communist China, democratic India and many small quasi-democratic and authoritarian states. Both China and India play a significant role in maintaining multilateral world order. Asia’s regional power remains with its enormous potential of resources for domestic markets and per capita purchasing power parity. Hence, the economic and the business aspects of the Asian region require comprehensive study. Sustainable operational excellence is a notion carried by an organisation’s sustainable economic development and other values. This study incorporates the multiple case study method. Twelve case organisations such as Tata Motors, Samsung, Nissan, Indigo, Mitsubishi, Huawei, Wilmar, Canon, NTPC, Hitachi, Singapore Airlines, and L&T were chosen to study their sustainability values, and operational and strategic strands. TISM (total interpretive structural modelling) method is used for model building; four variables such as operating activities, investing activities, financing activities, and SVE (Social value expenditures) are taken for empirical analysis. Based on the available secondary data, the study incorporated panel data regression analysis. The result shows that SVE positively and significantly explains operational activities that proxy with sustainable business practices. The study concludes with a Paux strategy framework for discussion and managerial implications.

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Global Imbalances: The Role of Institutions, Financial Development and FDI in the Context of Financial Crises

Cited by 6 publications

References 40 publications

Analysis of Factors Determining Global Payment Imbalances in 2000-2019

Analysis of Factors Determining Global Payment Imbalances in 2000-2019

The impact of operational excellence and innovation on green manufacturing in Southwest Asia: The Republic of Yemen as a model

Organization’s Sustainable Operational Complexity and Strategic Overview: TISM Approach and Asian Case Studies

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