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Our study aims to evaluate the impact of infrastructure and public investment on private investment in machinery and equipment in Brazil from 1947 to 2017. The contribution of our article to the existing literature lies in providing a more comprehensive understanding of the presence or absence of the crowding effect in the Brazilian economy by leveraging an extensive historical database. Our central argument posits that the recent decline in private capital accumulation over the last few decades can be attributed to shifts in economic policies – moving from a developmentalist orientation to nondevelopmental guidance since the early 1990s, which is reflected in the diminished levels of public investment and infrastructure since the 1980s.

We conducted a series of econometric regressions utilizing the autoregressive distributed lag (ARDL) model as our chosen econometric methodology.

Employing two different variables to measure public investment and infrastructure, our results – robust across various specifications – have substantiated the existence of a crowding-in effect in Brazil over the examined period. Thus, we have empirical evidence indicating that the state has influenced private capital accumulation in the Brazilian economy over the past decades.

Our article contributes to the existing literature by offering a more comprehensive understanding of the crowding effect in the Brazilian economy, utilizing an extensive historical database.

This study aims to determine how and through what mechanisms the outward foreign direct investment (OFDI) promotion effect of the Belt and Road initiative (BRI-OFDI) affects domestic investment. It is motivated by the context that China is fostering a new development pattern, as well as by the impetus from the Belt and Road initiative for the new pattern.

Drawing on data of Chinese-listed companies, this study uses a difference-in-difference method to explore the effect of the BRI-OFDI on domestic investment and a mediation model to illustrate the mechanisms.

The BRI-OFDI has a significantly positive effect on domestic investment, meaning that the Belt and Road initiative's OFDI promotion effect crowds in domestic investment. The results are heterogeneous: the crowding-in effect mainly exists in non-state-owned and technology-intensive enterprises, while a crowding-out effect is seen in state-owned and labor-intensive enterprises. The easing of corporate financing constraints and the expansion of market demand are two important mechanisms.

This study uses the Belt and Road initiative as an exogenous shock to investigate the impact of the initiative-induced OFDI promotion effect on domestic investment. It addresses the potential endogeneity issue confronting the studies on the relationship between OFDI and domestic investment in the literature. The authors focus on the possible spillover effects of the Belt and Road initiative discussing the impact of the BRI-OFDI on domestic investment from the micro-firm perspective. It offers a new perspective to objectively assess the initiative's policy effect.

Crowded urban regions pose a complex urban challenge that can adversely affect urban residents, encompassing aspects like mental and physical well-being, overall livability and quality of life. The complexity in determining the factors influencing the crowding perception, which encompass subjective and situational psychological factors alongside physical and environmental attributes, imparts ambiguity to planners' approach. This study aims to unravel the intricate interplay between crowding and the physical attributes inherent in the built environment.

This literature review analyses theories linking urban planning and environmental psychology to uncover gaps in the relationship between urban design principles and residents' perceptions of crowding. It also explores influential variables affecting crowding perception and diverse methodologies across contexts.

The study built upon a broad literature review which is expected to summarise and classify the variables of urban planning components and approaches according to their impacts on the psychological perception of crowding. Furthermore, highlighting a number of recommendations that can be considered a guide for planners and urban designers to enhance the urban experience and reduce the perception of crowding.

This study seeks to improve the overall experience of crowding in densely populated urban areas. It accomplishes this by identifying influential factors and comprehending the associated outcomes in such contexts. Furthermore, it bridges perspectives from various fields to examine relevant policies and strategies to mitigate crowding consequences.

This paper aims to investigate the impact of perceived usefulness of online reviews and crowd cues on restaurant selection. In addition, the authors also examine the moderating role of perceived crowding and gender in this process.

The proposed hypotheses were tested with survey data (N = 200) collected from customers visiting full-service restaurants in Malaysia. The data were analyzed using SEM through Smart PLS.

The findings supported that the perceived usefulness of online reviews and perceived crowding have a positive effect on a consumer's purchase intentions, i.e. their decision of restaurant selection. Besides, a higher level of perceived crowding strengthens the relationship between the perceived usefulness of online reviews and their purchase intentions. This finding delineates that consumers prefer to dine in a crowded place with useful online reviews in an unfamiliar place. Finally, the results show that the effect of the usefulness of online reviews on purchase intentions does not vary with respect to gender (no significant contingent effect). However, the effect of perceived crowding varies with respect to gender – male customers have higher intentions to join crowded restaurants as compared to females.

Limitation of this study is its cross-sectional research design; data were collected in a single time frame. Longitudinal research design can be used to get in-depth knowledge of this phenomenon. Secondly, a non-probability sampling technique was used in this study, future research can used probability sampling technique to enhance generalizability of the study. Moreover, this study focused on the human crowding aspect, future studies can cover both aspects of crowding (human crowding and spatial crowding) in retailing or other service sectors (Blut and Iyer, 2020).

This study has multiple practical implications.

This study extends the current research on usefulness of online reviews and perceived crowding by investigating its direct and conditional effects. Specifically, the authors contribute in extant research by explaining its differential effects for male and female customers, when they select which restaurants to dine.

The study examined the impact of financial development, foreign direct investment, market size and trade openness on domestic investment for 119 countries divided into four panels that are low-income countries (LIC), lower middle-income countries (LMIC), upper middle-income countries (UMIC) and high-income countries (HIC) between 1995 and 2019.

The present study bases its empirical procedure on the bases of the data mix. To this end, based on the presence of cross-sectional dependence, covariate-augmented Dickey–Fuller unit root and Westerlund cointegration second-generation tests were employed to validate the stationarity and cointegration of the variables, respectively. The novel Dynamic Common Correlation Effects estimator was employed to estimate the heterogeneous parameters while the Dumitrescu and Hurlin test was used to test for causality direction of the highlighted variables.

The empirical results show that market size and trade openness had a positive and statistically significant effect on domestic investment for all the income groups. Results also show that financial development had a positive and statically significant effect on domestic investment only for LMIC and HIC economies, while a positive and statistically insignificant effect was obtained for LIC, UMIC and the global panel. The causality results revealed a bidirectional relationship between domestic investment and the exogenous variables – financial development, foreign direct investment, market size and trade openness.

It is therefore, recommended that LIC and LMIC need to consider harmonising the financial system to lower credit limitations and adopt business-friendly policies. HIC and UMIC should seek more outward FDI policies and harmonise their trade policy, to reap more benefits from FDI and international trade.

On novelty, previous studies have been criticised for the effect on technical innovation of bank financing and institutional quality. This research tackles the deficiency using systematic institutional quality indicators and by taking other variables into account.

This study aims to explore the good crowding effect among Indian domestic travellers during the COVID-19 pandemic in the context of the city destination. This study uses the framework of social motivation theory to achieve the objective.

This study adopted a qualitative research design by taking the case of Shimla, Himachal Pradesh. Using purposive sampling, semi-structured interviews were conducted with 37 respondents, and themes were drawn manually.

The analysis found four themes that create a good crowding effect among domestic tourists, namely, convenience and price; familiarity and place attachment; social affiliation; and safety. The themes indicated that despite the pandemic, and constant occurrences of new variants, Indian domestic tourists’ on-site attitude towards crowding was favourable.

Firstly, the good crowding effect during the pandemic could have been better understood using empirical data. Secondly, the results cannot be generalized, specifically for developed economies.

This study offers practical implications to destination managers and local administrative bodies for whom achieving sustainability in urban tourism has always been concerning. These include developing infrastructural facilities, encouraging cultural activities in city centres and improving the perception of safety to sustain the good crowding effect.

The affective dimension involved in making a travelling decision played a significant role in the post-pandemic phase. While suppliers needed survival, tourists needed social affiliation and escape from the mandated home isolation due to multiple phases of COVID-19 lockdown in India. This study adds value to society by emphasising that the need for social affiliation among travellers remains intact, and the tourism industry should embrace this transformation.

While most of the pandemic-related studies criticised crowd and tourists’ crowd averting behaviour, this study reported that the good crowding effect could also be an outcome owing to different factors. Therefore, this study offers distinctive nuance of tourists’ behaviour in the post-COVID-19 phase, allowing destination managers and tourism stakeholders to re-think their strategies.

The study explores how the intention to export affects financing and non-financing variables for small and medium-sized enterprises (SMEs) in a low-income country (LIC). The objectives of this study are (1) to discern between regional and global exporting and (2) to evaluate its policymaking implications.

Primary survey data were collected from 330 Rwandan SMEs and were analysed using ordered logistic models as an application of the expectation-maximisation iterating algorithm, which was tested for robustness using a sampling model variation.

The results show that alternative sources of finance are the predominant choice to finance the intention to export within and outside Africa. As the scope of export intentions broadened from regional to global, there was a shift in preferences from less formal to more formal lending technologies, moving from methods like factoring to lines of credit. Moreover, reliance on bank officers became more significant, with increasing marginal effects. Finally, the study determined that government financing schemes were not relevant for SMEs pursuing either regional or global exporting.

Whilst alternative sources of finance predominate the export intentions of Rwandan SMEs, establishing a robust banking relationship becomes crucial for global exporting. Despite this implication, the intention to export should prompt more transparent communication regarding government financial support programmes. There is an opportunity for increased usage of relationship lending to customise support for SMEs involved in exporting, benefiting both the private and public sectors.

This study accentuates how export distance alters SME financing priorities. The results also contribute to understanding how the value of relationship lending changes when less familiar markets (i.e. global exporting) are the objective. Moreover, the study offers a new perspective on how institutional voids affect entrepreneurial financing decisions in LICs.

This paper aims to assess the relationships between foreign direct investment (FDI) and domestic entrepreneurship (DE) with the moderating role of formal institutions (FI), logistics and information communication technology (ICT) capacities.

The study is based on unbalanced panel data of 53 countries from 2006 to 2020 at different stages of development, using a fuzzy-set qualitative comparative analysis.

The research results indicate that FDI directly affects the establishment of domestic entrepreneurship. Additionally, FDI firms via the buffer mechanism of FI, logistics and ICT development for DE. Through its adjustment to the quality of institutions, logistics and ICT infrastructure, GDP per capita determines the direction of FDI's impact on DE.

The study's findings grant empirical evidence and theoretical contributions to the relationship between FDI and domestic entrepreneurial development through the buffering mechanism of FI, logistics and the role of ICT.

As China’s industrial structure continues to upgrade and optimize, the consumption capacity of rural residents gradually improves and the role of consumption in economic growth is increasingly prominent. Against the background of weak external demand, the untapped potential of rural consumption has become a key force in expanding domestic demand. As one of the important means that the government has long relied on, fiscal support for agriculture has played a crucial role in activating the rural consumer market. This manuscript aims to explore the impact of local fiscal support for agricultural expenditure (FSAE) on rural consumption in China, as well as to examine the mediating role of the level of rural financial development.

In this manuscript, the authors use the provincial panel data of 31 provinces in China from 2000 to 2020. The data of all variables mainly come from China Statistical Yearbook and China Rural Statistical Yearbook. According to the variable selection above, 651 sample data of 31 provinces and cities across China from 2000 to 2020 are organized. In terms of methodology, multiple fixed-effects panel model is applied to regression.

Firstly, FSAE varies significantly, while rural consumption slowly but steadily rises, with a relatively stable consumption structure. Secondly, FSAE has a significant positive effect on rural consumption. Thirdly, mediation testing indicates that mechanisms such as income, uncertainty and financial development have significant positive mediating effects on rural consumption. Thirdly, there is evident regional heterogeneity in FSAE’s impact on rural consumption. The Western regions, under government fiscal support, show a more significant effect on the elevation of rural consumption levels, while the role of FSAE in optimizing the consumption structure of rural residents in eastern and central regions is more pronounced.

Firstly, a systematic examination of local FSAE and rural consumption has been conducted, enriching relevant theories. Secondly, utilizing econometric empirical methods to research the relationship between local FSAE and rural consumption provides an exploratory extension to empirical studies on rural consumption in China. This offers empirical evidence for local fiscal support in agricultural development and the promotion of rural consumption.

The goal of this study is to investigate the mediating effect of referral rewards on consumer willingness to recommend poverty-alleviating products and to identify the most effective referral rewards for incentivizing consumers to recommend poverty-alleviating products.

Tournament rewards and piece-rate rewards are designed based on the theory of indebtedness, the related literature and the actual background. SPSS 26.0 and AMOS 17.0 are used to analyze the structural equation model.

According to the structural equation analysis, the following findings were found: under the tournament reward condition, social image, feelings of indebtedness and perceived reward value negatively affect consumer willingness to recommend. Under the piece-rate reward condition, social image and feelings of indebtedness significantly negatively affect consumer recommendation willingness, while perceived reward value significantly positively affects consumer recommendation willingness. The mean recommendation willingness of the tournament reward group is significantly lower than that of the control group. In contrast, the mean recommendation willingness of the piece-rate rewards group is significantly higher than that of the control group.

Based on the study findings, the authors propose that enterprises apply piece-rate rewards to incentivize consumers to recommend poverty-alleviating products when designing such rewards. In this way, the sale of poverty-alleviating products can be improved.