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Article
Publication date: 6 April 2012

William R. Clark, Mark Hallerberg, Manfred Keil and Thomas D. Willett

The purpose of this paper is to review concepts and measurements related to financial globalization such as financial openness, financial integration, monetary…

Abstract

Purpose

The purpose of this paper is to review concepts and measurements related to financial globalization such as financial openness, financial integration, monetary interdependence, and the mobility and movement of capital.

Design/methodology/approach

This paper surveys the theoretical and empirical literature on monetary interdependence and financial globalization. The major ways in which these concepts are measured empirically are presented and critiqued.

Findings

Disagreements about the degree of financial integration and capital mobility are, in part, explained by the different approaches to measuring these concepts. One major challenge in obtaining a good measures is controlling for other major factors that may influence observed correlations among financial variables. While these relationships still cannot be estimated precisely, it can be safely said that while high for many countries, few if any financial markets are perfectly integrated across countries.

Originality/value

By offering a comprehensive analysis of these different measurements, the paper underscores the different implications for national policies and the operation of the international monetary system of different dimensions of globalization. In particular, the proposition that financial globalization has left most countries with little autonomy for domestic monetary policy is subject to serious debate, at least in the short run.

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Article
Publication date: 15 May 2009

Jinghua Zhang, Fangwei Wu, Deyuan Zhang and Yongmin Wang

The purpose of this paper, starting from a theoretical framework, is to analyze the spillover effects of human capital brought by labor mobility and their influence on the…

Abstract

Purpose

The purpose of this paper, starting from a theoretical framework, is to analyze the spillover effects of human capital brought by labor mobility and their influence on the public education investment.

Design/methodology/approach

Based on the endogenous growth theory, the paper establishes a regional human capital spillover model to examine the spillover effects of human capital coming along with the regional labor mobility and the changes of public education investment decision brought by the spillover effects in China.

Findings

It has been found that the regional mobility of labor has made the developed areas gain the spillover benefits of human capital investment from the underdeveloped areas with their superiority of social and economic environment and restrained the incentives for public education investment in the underdeveloped areas, thus the different areas walk on a different growth path, with the expansion of the difference in the economic and education investment growth.

Originality/value

This paper analyzes the possible influences from the spillover of human capital on the economic growth and educational investment and finds a high possibility for the underdeveloped areas to get into a “low development trap” of education investment. The key to solving the problem is to internalize the externalities by the active public policy, in order to realize equal education, rational investment and balanced development.

Details

China Agricultural Economic Review, vol. 1 no. 3
Type: Research Article
ISSN: 1756-137X

Keywords

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Book part
Publication date: 24 February 2011

Alessandro Bonanno and Josefa Salete Barbosa Cavalcanti

At the outset, though, and before brief summaries of each of these cases are presented, it is important to underscore two key points that guide the organization of the…

Abstract

At the outset, though, and before brief summaries of each of these cases are presented, it is important to underscore two key points that guide the organization of the entire volume. First, capital mobility is a complex phenomenon that assumes various forms as different types of capitals move at different velocities. Second, capital mobility is a necessary and irreplaceable component of capitalism. As for the first aspect, we will consider three types of capital: financial capital, productive capital, and labor. Obviously, these three forms of capital are endowed with different features that affect their behaviors and their ability to move through time and space. While all these three forms of capital share the common requirement that they need to be utilized in increasingly accelerated manners if capital accumulation had to expand, they also display tendencies that favor financial and productive capital and subordinate labor. If effect, the subordination of labor to financial and productive capital is one of the primary characteristics of globalization and one item that allowed the rapid expansion of capital accumulation over the last two decades.

Details

Globalization and the Time–Space Reorganization
Type: Book
ISBN: 978-0-85724-318-8

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Article
Publication date: 2 December 2020

Lee Elliot Major and Jennie Miles Weiner

The purpose of this paper is to argue that current ways school systems have addressed social mobility is misguided at best and, at worst, hurts social mobility. Instead…

Abstract

Purpose

The purpose of this paper is to argue that current ways school systems have addressed social mobility is misguided at best and, at worst, hurts social mobility. Instead, we call for a focus on investment in teachers' professional capital as a primary lever for enhancing the likelihood they can effectively prepare and develop all children to lead successful lives after school. These arguments have become even more pertinent with the COVID-19 pandemic.

Design/methodology/approach

Using contemporary research, and grounded in our collective decades of research in these areas, we define social mobility and document how the aim of improving it has become a central tenet of our governments' stated ambitions and the yardstick by which school systems' success is measured. We then show how the application of market-based approaches to schools and teachers' work has hindered social mobility and offer a new path forward.

Findings

After 50 years of neoliberal policies incentivising individualistic and competitive behaviours, it is time to move towards policies that enhance professional capital and promote high quality collaboration between teachers. We call for a new path forward: a re-orientation to invest in teachers' capacity to realise the potential of education to improve the life prospects for all children, irrespective of their background.

Originality/value

As with so many issues, the COVID-19 pandemic has shone an intense light on the role of educators in society. There are credible concerns that economic and educational inequalities resulting from the crisis have the potential to trigger a fall in future social mobility levels. Yet this should also be seen as a new dawn for renewed thinking in which we seriously consider a shift away from neoliberal to professional capital policies to create an education system that nurtures teaching professionals, promotes collective behaviour and helps rather than hinders efforts to improve social mobility.

Details

Journal of Professional Capital and Community, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-9548

Keywords

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Book part
Publication date: 8 June 2011

Mike Wright

Purpose – Although there is extensive work on labor mobility, research on entrepreneurial mobility is fragmented and many aspects are largely neglected. We develop a…

Abstract

Purpose – Although there is extensive work on labor mobility, research on entrepreneurial mobility is fragmented and many aspects are largely neglected. We develop a framework for analysis that integrates different perspectives on entrepreneurial mobility to provide a broad agenda for future research.

Design/methodology – We build upon the strategic entrepreneurship, entrepreneurial behaviour theory, resource-based theory and other literatures, to distinguish four quadrants involving high and low geographical mobility and high and low organizational mobility.

Findings – Within each quadrant we identify different types of entrepreneurial mobility, specifically habitual entrepreneurs, management buyouts, university spin-offs, returnee entrepreneurs and transnational entrepreneurs. Issues concerning the development of research programs and methods, with particular emphasis on datasets, are discussed.

Originality/value – It is hoped that this chapter will spur entrepreneurship and strategy scholars to recognize that the scope of the entrepreneurial mobility concept is considerably greater than hitherto appreciated, providing interesting new avenues for theoretical and methodological development in this area.

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Article
Publication date: 10 August 2020

Tomáš Konečný and Lukáš Pfeifer

This paper aims to focus on capital-related macroprudential policies in the context of recent policy discussions on the removal of barriers to the mobility of capital and…

Abstract

Purpose

This paper aims to focus on capital-related macroprudential policies in the context of recent policy discussions on the removal of barriers to the mobility of capital and liquidity of cross-border banks in the European Union (EU).

Design/methodology/approach

This study first discusses the link between financial stability and internal resource mobility of cross-border banks. Then, it examines past heterogeneity in structural capital buffers as key macroprudential capital instruments applied in the EU and relate them to costs of policy action, degree of foreign penetration and membership in the Banking Union.

Findings

Observed phase-in patterns of structural capital buffers in the EU are broadly consistent with costs of policy action, degree of foreign penetration and membership in the Banking Union as potential factors. The process of financial integration could be further enhanced through reduced uncertainty in the application of macroprudential policies that constrain capital mobility of cross-border banks.

Originality/value

This paper anchors macroprudential policies into a wider discussion on the mechanism and implications of ring-fencing in the EU over time. It discusses two policy areas, macroprudential policies and proposals for deeper financial integration, that share the same financial stability objective but tend to emphasize different implications of the mobility of capital and liquidity of cross-border banks in the EU. The study provides a discussion of potential implications of the recent adoption of the CRRII/CRDV legislation for future heterogeneity of macroprudential policies in the EU.

Details

Journal of Financial Regulation and Compliance, vol. 29 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

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Article
Publication date: 1 January 1988

Geraint Johnes

Introduction Much concern has been expressed in recent years about the long‐run trend of unemployment in the UK. Abstracting from short‐run cyclical swings, the trend has…

Abstract

Introduction Much concern has been expressed in recent years about the long‐run trend of unemployment in the UK. Abstracting from short‐run cyclical swings, the trend has been upwards for at least the last 20 years. The available evidence suggests that this trend has become more pronounced over time, so that by the mid‐1980s the long‐run equilibrium rate of unemployment was around eleven per cent. If the notion of the “non‐accelerating inflation rate of unemployment” is accepted — as it now is by most economists — this means that demand management policies alone can never restore the persistently low levels of unemployment enjoyed during the post‐war period. The main aim of labour market policies must be to act directly on the non‐accelerating inflation rate of unemployment (NAIRU) itself. Only thus can the long‐run trend be reversed.

Details

International Journal of Manpower, vol. 9 no. 1
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 11 November 2013

Kirsi Mukkala and Timo Tohmo

The purpose of this paper is to investigate inter-industry labor mobility, paying special attention to workers who move into high-tech (HT) sectors or knowledge-intensive…

Abstract

Purpose

The purpose of this paper is to investigate inter-industry labor mobility, paying special attention to workers who move into high-tech (HT) sectors or knowledge-intensive business services (KIBSs). This study inquires whether skilled workers are mobile and whether the characteristics of mobile workers support the effective transfer of knowledge across industries.

Design/methodology/approach

Census data representing 7 percent of Finnish residents were used. The micro-econometric estimation method with correction of sample selection bias was applied.

Findings

The results show that young workers are the most mobile, whereas mobility decreased for those with previous work experience, higher education and higher income level. These findings indicate that the highly skilled workers are not necessarily the most mobile, a trend that may weaken the effectiveness of knowledge spillover. However, on average, highly educated workers move into KIBS sectors more often than to other sectors, and HT sectors attract workers who have higher incomes, which may indicate that their skills are highly valued. As a result, knowledge spillovers may emerge. The knowledge spillovers resulting from job mobility are concentrated in large growth centers that have universities.

Originality/value

This study provides a new and topical viewpoint to the mobility literature by focussing on skilled workers and their movement toward the HT and KIBS sectors.

Details

International Journal of Manpower, vol. 34 no. 8
Type: Research Article
ISSN: 0143-7720

Keywords

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Book part
Publication date: 2 June 2008

Morihiro Yomogida

In this chapter, I explore the impacts of international capital movements on income distribution within countries and the value of trade in goods. Jones (1980) introduces…

Abstract

In this chapter, I explore the impacts of international capital movements on income distribution within countries and the value of trade in goods. Jones (1980) introduces sector-specific capital into a simple Ricardian setting and examines the role of comparative and absolute advantage in determining the allocation of capital between countries. I introduce a simple structure of the demand for commodities into Jones (1980) so that commodity prices are determined endogenously in commodity markets. This extension allows us to show how the pattern of demand plays a crucial role in the effects of capital movements on income distribution and goods trade.

Details

Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

Keywords

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

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