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This study intends to explore the impact of World Trade Organization (WTO) which came into existence from January 1, 1995, on the export share of developing counties in…
This study intends to explore the impact of World Trade Organization (WTO) which came into existence from January 1, 1995, on the export share of developing counties in the world exports of all goods together in US$, that is, in global merchandise trade. This study endogenously determines the structural break in changing export share of developing countries and how are they related to the major changes in the multilateral trading systems of international trade, in particular, the introduction of the WTO by following a multiple breakpoint analysis due to Bai–Perron. In this context, it would be worthwhile to note that the shift toward more export-oriented strategies by a large number of developing countries has accelerated the growth of LDC exports. This study also compares the changing share of merchandise exports and trade in commercial services for developing countries and the LDCs in the Post-WTO regime. The authors follow a univariate time-series exploratory analysis to understand the trend in world export shares of all goods and commercial services for different regions of the developing world and demonstrate the potential of these regions in the expansion of trade. The study, while evaluating the impact of WTO in changing export share in terms of structural change analysis, enables us to understand the role tariff cut in the developed countries on the imports from developing countries. This study also observes increasing inequality in terms of export share among different regions of the developing world.
Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and…
Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and sophisticated technology. This study attempts to examine the impact of major political risk factors in the emerging market economies along with basic economic fundamentals such as institutional variables like per capita electric consumption, trade openness, and real rate of interest. We have followed a static panel data approach in studying the impact of these crucial variables in Foreign Direct Investment (FDI) inflows in 15 major emerging economies for the period 2000–2014. Risk perceptions, i.e., political risk data, have been collected from the International Country Risk Guide (ICRG) provided by the Political Risk Services (PRS) Group. In our research purpose, we have considered dependent variable as FDI inflows for 15 emerging countries during the period 2000–2014, which are drawn from the United Nations Conference on Trade and Development (UNCTAD, 2014, 2015) FDI database. Our results demonstrate that there are six subcomponents of risk perception (political risk) which are statistically significant in explaining variation in FDI inflows of the major emerging countries. The results show that government stability, socioeconomic conditions, religious tension, and bureaucracy quality have a positive impact on FDI inflows of emerging countries, whereas internal conflict and law and order have a negative impact on FDI inflows of these countries. Stable government is more attractive to foreign investors. Again, an improvement in the socioeconomic conditions is positively related with FDI inflows in emerging countries. Decreasing bureaucracy leads to a reduction in corruption, and assists expanding FDI flows in the emerging country.
The purpose of this paper is to present a multi criterion failure mode effect and criticality analysis for coal-fired thermal power plants using uncertain data as well as…
The purpose of this paper is to present a multi criterion failure mode effect and criticality analysis for coal-fired thermal power plants using uncertain data as well as substituting the traditional risk priority number estimation method.
Grey-complex proportional assessment (COPRAS-G) method, a multi criteria decision making tool is applied to evaluate the criticalities of the failure modes (alternatives). In this model the criteria (criticality factor) against each alternative are expressed in grey number instead of crisp values.
Rupture failure of the straight tube of economizer (ECO) due to erosion is the highest critical failure mode whereas rupture failure of the stub of ECO due to welding defect is the lowest critical failure mode.
This paper incorporates human and environmental factors as additional factors which also influence the failure modes significantly. The COPRAS-G method is modified according this problem. Uncertainty in the scoring of criticality factors against each failure mode by various maintenance personnel is expressed in grey numbers.
Questions about the role and composition of the middle class have been examined and debated in the academy and in the political sphere for more than 100 years. In analyses…
Questions about the role and composition of the middle class have been examined and debated in the academy and in the political sphere for more than 100 years. In analyses of the Indian middle class specifically, two questions, both addressed by Diane Davis, seem to excite the most attention. The first has to do with the definition of a middle class, a term that has its origins in a very different social formation as well as its potentially mediating function in democracy. The second and more recent question has to do with what is variously called the “new” or “emerging” middle classes – in short, the middle classes of a liberalizing India.