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This study aims to examine what kind of role social capital plays in the relationship between human capital and career outcomes, with a particular focus on testing the mediation and moderation models.

Using data compiled from 111 employees at three financial institutions in Taiwan, social capital was measured by employees based on network in‐degree centrality, and development potential was measured by supervisors.

Results showed that the effects of human capital on developmental potential were fully mediated by social capital. Moreover, employees with firm‐specific human capital, managerial positions and longer tenure, received higher potential evaluations by their supervisors through their central positions.

The study shed light on the direct and significant effects of social capital on developmental potential, while human capital should translate into social capital to get positive career outcomes. That is, it is social capital that transforms human capital into workplace gains, e.g. producing positive career outcomes and increasing supervisors' perception of potential.

Employees should make best use of social capital transformed from human capital to obtain positive career outcomes in the organizations.

Support for the authors' mediation model suggests that both social capital and careers literature can be enhanced though integration. It follows that future research on career outcomes would benefit from the inclusion of social capital variables.

The purpose of this paper is to determine whether current account imbalances – surpluses or deficits – are “excessive” and hence constitute a valid concern. The second objective is to assess the degree of capital mobility by comparing the variance of the current account derived from the intertemporal model with that of the actual current account.

The paper addresses the issues by constructing the intertemporal model using annual data between 1960 and 2006. The authors applied the F‐test, the Bartlett test and the Siegel‐Tukey test to formally validate for equality of the variances of the optimal and actual consumption smoothing current accounts.

Based on vector autoregressive model, it was found that the present value of future net output closely reflects the evolution of the current account series with a small (insignificant) deviation between the actual and the estimated consumption‐smoothing current account. The results show that the hypothesis of full‐consumption smoothing could not be rejected by the data for the full sample period, implying that the degree of capital mobility was quite high, even during the post‐1997 period. The variance ratio of the actual current account to the optimal current account is not statistically greater than one. Therefore, it is concluded that there is no evidence to suggest inappropriate use of capital flows over the entire sample period under investigation.

The authors relied on a more general framework, as suggested by Bergin and Sheffrin, which allows real interest rate to affect current account in order to provide a new perspective on Thailand's current account balance.

This paper, grounded on social capital and social networking theory, examines how postgraduate students in Ghana cultivate and utilise social resources towards career development.

Following a qualitative study design, the authors recruited and conducted interviews with postgraduate student-workers undertaking a two-year Master of Science in International Business.

There was an active engagement and consciously pre-plan mobilisation of social resources and utilisation of social resources among the postgraduates. Despite the diverse processes of social capital development identified, four important key themes emerged underpinning social capital mobilisation and utilisation: (1) the recognition of the importance of social capital acquisition, (2) the strong link between social capital and individual successes in employment and business opportunities, (3) the importance of the utilisation of social resources for emotional support and (4) the use of social capital to reinforce the individual social identity and recognition of an individual's worth.

The authors offer a theoretical and practical contribution with a frame of understanding by demonstrating that there is more to social capital than economic gain.

Unlike the findings from prior research in Africa, the strong institutional and cultural conditions did not constrain the key force of education and employability as drivers in attainment and social positioning. This is an interesting and positive finding from the research, especially in terms of the importance of providing educational opportunities to overcome institutional and cultural barriers to workforce participation and career development.

Social networks contribute to career success, and while the participants used social networks that reinforced ethnic and religious bonds, there is the opportunity to develop networks through other identity processes, especially education. Formal education imparts more than formal skills and qualifications. It provides the opportunity to access networks that transcend personal identity such as ethnicity and to get support for career development.

This paper reassesses the center-periphery relationship in light of recent developments in the international monetary system and the currency hierarchy in a geopolitical economy framework. The center-periphery relationship has historically been examined in relation to the international division of labor, the pace and diffusion of technical progress associated with it, and the pattern of consumption it embodies. As conceived by structuralists and dependentistas, it is not seen as the result of the uneven and combined development of capitalism: it does not take into account the struggle between the dominant States (center), which want to reproduce the current order and the contender States (periphery) which aim to accelerate capitalist development to reduce the unevenness, and even to undermine the imperial project of dominant states. In a geopolitical economy framework, a powerful obstacle peripheral countries face in their efforts at combined development is the international monetary system, something that the theorists of the center-periphery relationship have perhaps overlooked. Because of its subordinate position in the currency hierarchy, the periphery is subject to greater external vulnerability, greater instability of exchange and interest rates, and as a result, enjoys a more restricted policy space. In this sense, the chapter shows that, beyond macroeconomic policies, the currency hierarchy in a context of high capital mobility limits a range of developmental policies of peripheral countries, reinforcing the unevenness of world economy and constraining combined development.

Intra-European labour migration has divergent labour market consequences across institutional settings and economic sectors. Some sectors experience increasing pressure on industrial relations and labour market segmentation while others do not experience such effects, and it remains unclear how to explain this variation. Based on empirical findings from a comparative study of four economic sectors in Denmark, this article discusses the role of labour market institutions and structural conditions in shaping the consequences of labour migration at a sectoral level.

International tourism has experienced a substantial growth during the second half of twentieth century. Tourism development can contribute substantially to the reduction of poverty problem by creating new employment opportunities. The purpose of this paper is to analyse the effect of tourism development on unemployment problem using an efficiency wage framework.

The authors developed a two-sector two-factor static competitive general equilibrium model of a less-developed open economy called South with an imported traded goods sector and with a non-traded tourism service sector, and with two factors, capital and labour. Labour is measured in efficiency unit; there exists unemployment in the labour market which is explained by the efficiency wage hypothesis. The authors also consider extensions of the basic model by introducing an exportable traded goods sector as well as sector-specific capital in the tourism sector.

The authors show that, with perfect intersectoral mobility of capital and with only one traded good, tourism development in South lowers unemployment rate and raises national income. However, this tourism development neither affects unemployment rate nor national income in South, in the mobile-capital model when there are two traded goods. When tourism sector uses sector-specific capital but capital is mobile between two traded goods sectors, tourism development keeps the unemployment rate unchanged but raises national income in South.

There exists a lot of debate about economic benefits of tourism development in a less-developed economy. A few works analyse the economic effects of tourism without developing formal models. However, no existing work analyses the effect on unemployment in an efficiency wage model. Although Harris–Todaro model is of relevance to explain unemployment in low-income countries, efficiency wage models are relevant for middle-income countries.

Analyses how the status of balance of payments follows se\ill\ fulfilling expectations of currency devaluation. It is found that before a currency devaluation, whether the economy w\ill\ experience a balance‐of‐payments surplus or deficit crucial depends on the degree of capital mobility.

This chapter combines a global value chain methodology with the case of the development of the farmed Atlantic salmon industry in Chile to inform discussions regarding the globalization of economy and society. The research documents the shifting structure of the value chain from the north to the south as Chile replaced northern Europe as the locus of production and the major world supplier of farmed Atlantic salmon. Farmed salmon was supported by the Chilean state as part of its export-oriented industrialization model that attracted foreign direct investment (FDI) from northern TNCs. Chile's low costs of production combined with growing environmental problems in the north and global retailers' demand for large quantities of low-cost product resulted in the restructuring of the farmed Atlantic-salmon value chain as northern capital sourced the south as a lucrative production platform to service northern consumers. A detailed investigation of the rise in dominance of the firm Marine Harvest is provided to illustrate the process of industry concentration the Chilean farmed-salmon industry. This model has generated a legitimation crisis related to environmental degradation and labor abuses resulting in social movement organization both nationally and internationally. The chapter concludes with a discussion of the implications of the Wal-Mart Effect on the agrifood industry in particular and in the farmed-salmon industry in particular.