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Book part
Publication date: 6 August 2014

Xiaowen Fu and Tae Hoon Oum

This chapter reviews the effects of air transport liberalization, and investigates the roles played by airport-airline vertical arrangements in liberalizing markets. Our…

Abstract

This chapter reviews the effects of air transport liberalization, and investigates the roles played by airport-airline vertical arrangements in liberalizing markets. Our investigation concludes that liberalization has led to substantial economic and traffic growth. Such positive outcomes are mainly due to increased competition and efficiency gains in the airline industry, and positive externalities to the overall economy. Liberalization allows airlines to optimize their networks, and thus may introduce substantial demand and financial uncertainty to airports. Vertical arrangements between airlines and airports may offer a wide range of benefits to the parties involved, yet such arrangements could also lead to airline entry barriers which reduce the effects of liberalization. Three approaches have been developed to model the effects of liberalization in complex market conditions, which include the analytical, econometric and computational network methods. These approaches should be selectively utilized in policy studies on liberalization.

Details

The Economics of International Airline Transport
Type: Book
ISBN: 978-1-78350-639-2

Keywords

Book part
Publication date: 4 March 2015

Yusaf H. Akbar

While the liberalization of economies within the transition paradigm is viewed to take place primarily on a macroeconomic (primary) level, this paper switches emphasis to…

Abstract

While the liberalization of economies within the transition paradigm is viewed to take place primarily on a macroeconomic (primary) level, this paper switches emphasis to the secondary and tertiary level of post-transition. While macroeconomic reforms may provide the playing field, secondary reforms level the playing field and tertiary reforms develop the capabilities necessary for firms and individuals within firms to compete in the landscape of liberalized economies. It is necessary to examine the transformations on three levels. First, the development of public policy and institutions aimed at regulating certain industries or firms. Second, the explicit market strategies of firms operating in the industries that shape market structure and inform public policy. Third, the nonmarket strategies of firms aimed at influencing the form and substance of public policy. Drawing on research in three related areas: institutional voids (IVs), the role of market and nonmarket strategies of firms, respectively, this paper examines the current state of transition in CEE/FSU countries. The main conclusions of the paper are first, transition and post-transition has been and continues to be profoundly impacted by the liberalizing influences of multinational firms. Second, this causation from the strategies and tactics of multinational firms to the extent of transition also helps to explain the degree of modernization of economies in a given transition economy. Third, it is important to distinguish between local and foreign firms on the transition process. Foreign firms are more likely to pursue liberalization agendas when it strengthens their competitive advantage over local firms. Conversely, local firms – especially those who rely on the capacity to navigate institutional voids – may be opposed to liberalization, as liberalization would threaten their sources of competitive advantage.

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Neo-Transitional Economics
Type: Book
ISBN: 978-1-78441-681-2

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Article
Publication date: 5 August 2021

Gamze Orhan

Deregulation of domestic markets and the liberalization of international markets have dramatically changed air transportation. One of the important results of this change…

Abstract

Purpose

Deregulation of domestic markets and the liberalization of international markets have dramatically changed air transportation. One of the important results of this change is the environmental effects of air transportation. This study aims to examine the implications of air transportation on environmental sustainability in the context of airline business strategies in liberalized and globalized air transport industry.

Design/methodology/approach

The paper discusses the relationship between liberalization, airline strategies and environmental sustainability of air transportation using the related literature. Then, to show some environmental impacts on the axis of the relationship discussed, emission rates for the aircraft landing and take-off phase were calculated on a global basis based on the aircraft traffic.

Findings

The discussion in the paper shows that the liberalization policies and the strategies of airlines supported by these policies, in essence, contradict the environmental sustainability of air transport. Considering the flight share projections of EUROCONTROL for different aircraft types on a global basis and the World Bank’s global flight traffic forecast for the years 2016 and 2025, it has been demonstrated that the number of aircraft departures will increase by 30%, whilst the number of aircraft emissions will increase by 41.5%.

Practical implications

Airlines are one of the main actors that will play a role in reducing the environmental impacts of air transportation. Therefore, this study is important in giving an idea to both policymakers and airline managers on how airline companies’ strategies should be shaped to realize both corporate sustainability and environmentally sustainable air transportation.

Originality/value

There are many studies in the literature regarding the environmental effects of air transport. However, there are not many studies linking environmental impacts with airline strategies that directly affect air transport demand. This study is different in that it gives environmental sustainability by associating it with its root causes.

Details

Aircraft Engineering and Aerospace Technology, vol. 93 no. 8
Type: Research Article
ISSN: 1748-8842

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Article
Publication date: 20 February 2007

H. Semih Yildirim and George C. Philippatos

This study sets out to examine the evolution of competitive conditions in the banking industries of 14 Central and Eastern European (CEE) transition economies for the…

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Abstract

Purpose

This study sets out to examine the evolution of competitive conditions in the banking industries of 14 Central and Eastern European (CEE) transition economies for the period 1993‐2000.

Design/methodology/approach

The basis for the evaluation of competitive conditions is the extant oligopoly theory in the new industrial organization literature, specifically, the competition model developed by Panzar and Rosse.

Findings

The results of the competition analysis suggest that the banking markets of CEE countries cannot be characterized by the bipolar cases of either perfect competition or monopoly over 1993‐2000 except for FYR of Macedonia and Slovakia. That is, banks earned their revenues as if operating under conditions of monopolistic competition in that period. An analysis of changes in competitive structure shows a higher degree of competition in the later years of the sample period. Large banks in transition countries are found to be operating in a relatively more competitive environment compared with small banks or, in other words, competition is lower in local markets compared with national and international markets.

Research limitations/implications

The period under investigation corresponds to early years of the ongoing transition from central planning when these countries were lacking many market‐supportive institutions essential for efficient financial markets. Therefore, the results of this study should be interpreted with the necessary scholarly scrutiny.

Practical implications

The paper measures the level of market contestability that may have been facilitated by the recent liberalization and deregulation progress.

Originality/value

The paper is highly original. Although research on the bank competition in the USA and other developed countries is voluminous, research that focuses on transition economies is relatively scant.

Details

Managerial Finance, vol. 33 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 2 September 2013

Syed H. Akhter and Paulo Fernando Pinto Barcellos

The economic realignment in Latin America has created two clusters, one stagnant in the north and the other growth-bound in the south. This study aims to focus on Brazil…

Abstract

Purpose

The economic realignment in Latin America has created two clusters, one stagnant in the north and the other growth-bound in the south. This study aims to focus on Brazil, the key player in the growth-bound southern cluster, and address three fundamental questions: how Brazilian executives in four B2B sectors (telecommunications, business equipment, steel, and transportation) viewed the internal competitive developments, how they strategically responded to these developments, and what were the marketing and financial outcomes of these strategies.

Design/methodology/approach

Data were obtained by interviewing top decision makers such as president, chief executive officer, and director of the companies.

Findings

Findings show that the intensity of competitive pressures due to globalization varied by sector and so did strategic responses of firms. Marketing and financial performance outcomes also varied by sectors.

Originality/value

The study adds to the growing literature on competitive market developments, strategic responses and performance outcomes of firms in Brazil, an important emerging economy and the key player in the southern Latin America cluster.

Details

Management Decision, vol. 51 no. 8
Type: Research Article
ISSN: 0025-1747

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Abstract

Details

The Political Economy of Policy Reform
Type: Book
ISBN: 978-0-44451-816-3

Article
Publication date: 1 October 1997

Kong‐Yam Tan

States that since the mid‐1980s, substantial deregulation and competitive liberalization of the South‐East Asian economies in their trade and investment regimes has…

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Abstract

States that since the mid‐1980s, substantial deregulation and competitive liberalization of the South‐East Asian economies in their trade and investment regimes has resulted in greater integration of their economies with the North‐East Asian economies. Proposes that, together with the rising purchasing power of the expanding middle class, massive infrastructural development, as well as the expansion in intra‐regional trade and investment, East Asia has emerged as an independent centre of growth in the global economy since the early 1990s. Presents empirical evidence on the rise of this autonomous growth momentum. Contends that, no longer a mere wagon hitched to the locomotive of the US and European economy, East Asia′s emerging independent engine of growth has tremendous implications for executives of multinationals keen to expand market share and form strategic alliances with companies in East Asia. Submits that it also has implications for fund managers in the OECD countries keen to look to the region for asset diversification and higher returns.

Details

Management Decision, vol. 35 no. 8
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 18 July 2022

Samridhi Tanwar and Surbhi Bhardwaj

Introduction: Foreign direct investment (FDI) is a deciding factor in the insurance industry’s growth in any nation. Besides, similar socioeconomic conditions, some…

Abstract

Introduction: Foreign direct investment (FDI) is a deciding factor in the insurance industry’s growth in any nation. Besides, similar socioeconomic conditions, some countries tend to attract more FDI inflows. This chapter focuses on exploring the FDI in the insurance industry in Brazil, Russia, India, China, and South Africa (BRICS).

Purpose: The chapter aims to explore the current situation of FDI in the insurance industry in BRICS member nations and uncover the factors that have led to higher foreign investments in some countries.

Methodology: Using descriptive and comparative approaches, this chapter explains the FDI scenario in the insurance sector of BRICS nations.

Findings: Based on a comparative analysis, the authors observed that deregulation, increased foreign engagement, and adoption of innovative technology and distribution methods are some avenues that could be worked upon to improve FDIs in the Indian insurance sector.

Details

Big Data Analytics in the Insurance Market
Type: Book
ISBN: 978-1-80262-638-4

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Book part
Publication date: 7 January 2016

Mehdi Abbas

This paper analyses the stalling of the Doha Development Agenda (DDA) and its systemic and institutional consequences through a geopolitical economy approach that…

Abstract

This paper analyses the stalling of the Doha Development Agenda (DDA) and its systemic and institutional consequences through a geopolitical economy approach that integrates the French school of international economic relations and Régulation Theory. These approaches put states and their economic roles at the fore, correcting dominant free trade approaches to world trade. The paper also avoids monocausal explanations for trade talk deadlocks and aims to provide a comprehensive approach on the co-evolution of world trade patterns and its institutions. In this approach, the DDA stalemate is traced to an institution-structure mismatch in how states articulate their accumulation strategies and institutions (competition, state regulation, adhesion to international regime) to the World Trade Organization (WTO) regime occasioned by the emergence of new trade powers. This has given rise to three distinct conflicts in how member states navigate between the main parameters of the multilateral trading system (non-discrimination, reciprocity and balance of power) and their national accumulation strategies: the erosion of non-discrimination and reciprocity; the failure to build an operational compromise between development and ‘globalization’, that is, between multilateral openness and new trade and power balances; and the difficulty in reaching a compromise between historical and emerging capitalisms. The outcome of these conflicts will determine the institutional configuration of the post-Doha WTO agenda.

Article
Publication date: 21 March 2016

Davit Sahakyan

The purposes of this paper are to provide a new framework for the (re)assessment of North-South relations, with a specific focus on North-South preferential trade…

Abstract

Purpose

The purposes of this paper are to provide a new framework for the (re)assessment of North-South relations, with a specific focus on North-South preferential trade agreements (PTAs); advance a new mechanism of how first-order, i.e. Southern countries’ first, North-South PTAs can affect the outcomes of second-order, i.e. Southern countries’ subsequent, North-South PTA negotiations; and re-examine the effects of North-South power asymmetries on the outcomes of North-South PTA negotiations.

Design/methodology/approach

The paper focuses on how North-South power asymmetries affect the outcomes of North-South PTA negotiations. It introduces the concept of “first-order” and “second-order” North-South PTAs to show that the “order” of an agreement can be a crucial factor in PTA negotiations. The claims of the paper are also supported by primary data obtained through the author’s personal interviews with European Union and USA trade officials and policy-makers (see Appendix).

Findings

The paper advances a new theoretical framework that takes a longer-term view on North-South trade relations, whereby, against the backdrop of the proliferating PTAs, first-order North-South agreements can raise the bargaining powers of Southern countries during subsequent North-South PTA negotiations, with strong implications for both developed and developing countries.

Research limitations/implications

The paper is largely theoretical. A systematic empirical study of North-South PTAs will be required to validate or refute the theoretical framework advanced in this paper.

Originality/value

The paper introduces a new variable, namely the “order” of an agreement, which affects the logic of North-South PTA negotiations. Hence, the paper sets out a new theoretical framework that allows for a more accurate assessment of North-South power asymmetries and their effects on the outcomes of North-South PTA negotiations.

Details

Journal of International Trade Law and Policy, vol. 15 no. 1
Type: Research Article
ISSN: 1477-0024

Keywords

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