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1 – 8 of 8Jung Taik Hyun, Jun Yeop Lee and Jin Young Hong
This paper examines global imbalance and rebalancing issues from the viewpoint of Korea. As IMF (2009) notes, the unwinding of global imbalance seems inevitable and, in fact, it…
Abstract
This paper examines global imbalance and rebalancing issues from the viewpoint of Korea. As IMF (2009) notes, the unwinding of global imbalance seems inevitable and, in fact, it is in progress. We illustrate that Korea, with a flexible exchange rate system and relatively balanced current accounts, has little direct linkage to global imbalance. However, we also find that Korea is not immune to the costly adjustment process of imbalance due to the triangular trade between Korea, China and the U.S. The fact that Korea is ‘indirectly’ linked to global imbalance limits Korea’s ability to cope with the situation. Boosting domestic demand, often mentioned recommendation for East Asia, is not an appropriate solution for Korea with low personal savings rate. A lot depends on China’s policy. If China reduces its dependence on U.S. market and increases domestic consumption despite unemployment risk in export manufacturing sector, it will provide Korea with an opportunity for more stable growth based on China’s final demand. Korea can also make efforts to increase economic integration and expand monetary cooperation in Asia that would help to increase consumption demands and final goods trade in the region.
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This paper aims to assess the long-run drivers and short-term dynamics of real house prices in Sweden for 1986Q1 to 2016Q4. More specifically, the author examines the extent to…
Abstract
Purpose
This paper aims to assess the long-run drivers and short-term dynamics of real house prices in Sweden for 1986Q1 to 2016Q4. More specifically, the author examines the extent to which real house prices are determined by affordability, demographics and asset price factors.
Design/methodology/approach
The author conducts a cointegration analysis and applies a vector autoregression model to examine the long- and short-run responsiveness of Swedish real house prices to a number of key categories of fundamental variables.
Findings
The empirical results indicate that house prices will increase in the long run by 1.04 per cent in response to a 1 per cent increase in household real disposable income, whereas real after-tax mortgage interest and real effective exchange rates show average long-term effects of approximately – 8 and – 0.7 per cent, respectively. In addition, the results show that the growth of real house prices is affected by growth in mortgage credit, real after-tax mortgage interest rates and disposable incomes in the short run, whereas the real effective exchange rate is the most significant determinant of Swedish real house appreciation.
Originality/value
The impact of the two lending restrictions been implemented after the financial crisis – the mortgage cap in October 2010 and the amortization requirement in June 2016 – are ineffective to stabilize the housing market. This suggests that macroprudential measures designed to ease pressure on housing prices and reduce risks to financial stability need to focus on these fundamentals and address the issues of tax deductibility on mortgage rates and the gradual implementation of debt-to-income limits to contain mortgage demand and improve households’ resilience to shocks.
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S.M. Amin Hosseini, Leila Mohammadi, Keivan Amirbagheri and Albert de la Fuente
The main objective of this study is to consider how to benefit efficiently from the significant potential of humanitarian operations by individuals. For this purpose, this study…
Abstract
Purpose
The main objective of this study is to consider how to benefit efficiently from the significant potential of humanitarian operations by individuals. For this purpose, this study aims to assess failure factors in humanitarian supply chain operations after the Kermanshah earthquake considering the role of all parties, focusing on individuals who did not wish to work with formal organisations on the whole. In the aftermath of the Kermanshah earthquake, which occurred on 12 November 2017, improvised groups of Iranian civilians from all over the country played an important role in humanitarian supply chain operations as individuals. Although most of these groups sincerely intended to help the affected society, victims could not benefit properly from these significant potential humanitarian actions. On the contrary, these potential actions caused some issues during humanitarian operations, such as blocking roads, inappropriate last-mile distribution, wasting resources and so on.
Design/methodology/approach
This research study considers mixed methods, including an on-site survey, semi-structured interviewing and a questionnaire designed for statistical analyses. The analysis included 140 responses to the questionnaire, semi-structured interviews with 32 affected families, interviews with 5 emergency managers from the Housing Foundation of the Islamic Republic of Iran and on-site survey reports.
Findings
This study presents a framework for humanitarian supply chain management to deal with future disasters in the same area or areas with similar characteristics to the case study. In general, the results of this study demonstrate that the nature of humanitarian supply chain operations makes it impossible to consider that these operations are free of challenges. However, several influential factors, such as training humanitarian actors and integrated management, might considerably increase the efficiency of humanitarian operations by individuals.
Originality/value
This study highlights the influential factors of inappropriate humanitarian operations by individuals, derived from an analysis of the Kermanshah case and literature review. The authors suggest a framework to benefit from the significant potential of individuals with wide-ranging experiences and proficiency, for future cases similar to the case study.
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The Euro-centric nature of dark tourism research is limiting the perspective and restricting the scope of contemporary theory. Hence, this paper aims to explore how dark tourism…
Abstract
Purpose
The Euro-centric nature of dark tourism research is limiting the perspective and restricting the scope of contemporary theory. Hence, this paper aims to explore how dark tourism consumption differs in a society apart from the Anglo/Eurosphere. This is done by testing Stone and Sharpley’s (2008) thanatological framework in Mexico, a country whose residents are renown for having a unique perspective on death, to assess whether Mexican dark tourism consumers undergo a similar, or different, thanatological experience to that proposed in the framework.
Design/methodology/approach
The study adopts a qualitative approach in the form of a case study. The opinions of Mexican dark tourism consumers were gained by using the technique of semi-structured interviewing in four separate dark tourism sites within Mexico City, with coding serving as the form of analysis.
Findings
The findings show that due to the non-existence of an absent/present death paradox in Mexican society, the research participants experienced a thanatological process that contrasts with those from Western societies, which indicates that the thanatological framework is unsuitable in the context of Mexican dark tourism. At the same time, the study contests the common perception that Mexicans have a jovial familiarity with death, and demonstrates that in this case the thanatological process confirmed an acceptance of death, rather than any kind of intimacy.
Originality/value
The research is valuable in that it is a response to recent calls for research in geographical locations not previously considered in a dark tourism/thanatology context.
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Oluyemi Theophilus Adeosun and Temitope Owolabi
The purpose of this paper is to empirically examine the perspective of youth employees about owner manager businesses. The owner-manager business (a one-man business) is the most…
Abstract
Purpose
The purpose of this paper is to empirically examine the perspective of youth employees about owner manager businesses. The owner-manager business (a one-man business) is the most common in Lagos. Hence, an inquiry into their management style and how it impacts youth employees within the context of decent work is important to explore.
Design/methodology/approach
The study used the convenience sample technique to obtain data from 382 owner-managers and youth employees who work in owner-managed businesses across various sectors. They were administered a questionnaire with carefully structured questions, with an 81% return rate. The exploratory factor analysis (EFA) technique was used to identify the prominent parameters, and the hypothesis tested and validated accordingly.
Findings
The study identified three prominent factors that youth consider when working for an owner-manager business, i.e. the workplace factor, geographical factors and employee benefit. Consequently, issues regarding sustainable employment, conducive working conditions, job security and pension are paramount in the youths' view. Many owner-managers do not respect labour laws, and job security is low in owner-managed businesses; hence, they experience high turnover as most youth work in one-man businesses to gain experience.
Originality/value
The owner-manager business is the most predominant in the country and yet is under-researched. Furthermore, the perception of youth employees regarding owner-manager businesses provides a better understanding of performance and expected satisfactory outcome required from youth employees and how they can be met through proper channelling of their energies to the right tasks.
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Richard Lamboll, Adrienne Martin, Lateef Sanni, Kolawole Adebayo, Andrew Graffham, Ulrich Kleih, Louise Abayomi and Andrew Westby
The purpose of this paper is to explain why the high quality cassava flour (HQCF) value chain in Nigeria has not performed as well as expected. The specific objectives are to…
Abstract
Purpose
The purpose of this paper is to explain why the high quality cassava flour (HQCF) value chain in Nigeria has not performed as well as expected. The specific objectives are to: analyse important sources of uncertainty influencing HQCF value chains; explore stakeholders’ strategies to respond to uncertainty; and highlight the implications of different adaptation strategies for equity and the environment in the development of the value chain.
Design/methodology/approach
The authors used a conceptual framework based on complex adaptive systems to analyse the slow development of the value chain for HQCF in Nigeria, with a specific focus on how key stakeholders have adapted to uncertainty. The paper is based on information from secondary sources and grey literature. In particular, the authors have drawn heavily on project documents of the Cassava: Adding Value for Africa project (2008 to present), which is funded by the Bill & Melinda Gates Foundation, and on the authors’ experience with this project.
Findings
Policy changes; demand and supply of HQCF; availability and price of cassava roots; supply and cost of energy are major sources of uncertainty in the chain. Researchers and government have shaped the chain through technology development and policy initiatives. Farmers adapted by selling cassava to rival chains, while processors adapted by switching to rival cassava products, reducing energy costs and vertical integration. However, with uncertainties in HQCF supply, the milling industry has reserved the right to play. Vertical integration offers millers a potential solution to uncertainty in HQCF supply, but raises questions about social and environmental outcomes in the chain.
Research limitations/implications
The use of the framework of complex adaptive systems helped to explain the development of the HQCF value chain in Nigeria. The authors identified sources of uncertainty that have been pivotal in restricting value chain development, including changes in policy environment, the demand for and supply of HQCF, the availability and price of cassava roots, and the availability and cost of energy for flour processing. Value chain actors have responded to these uncertainties in different ways. Analysing these responses in terms of adaptation provides useful insights into why the value chain for HQCF in Nigeria has been so slow to develop.
Social implications
Recent developments suggest that the most effective strategy for the milling industry to reduce uncertainty in the HQCF value chain is through vertical integration, producing their own cassava roots and flour. This raises concerns about equity. Until now, it has been assumed that the development of the value chain for HQCF can combine both growth and equity objectives. The validity of this assumption now seems to be open to question. The extent to which these developments of HQCF value chains can combine economic growth, equity and environmental objectives, as set out in the sustainable development goals, is an open question.
Originality/value
The originality lies in the analysis of the development of HQCF value chains in Nigeria through the lens of complex adaptive systems, with a particular focus on uncertainty and adaptation. In order to explore adaptation, the authors employ Courtney et al.’s (1997) conceptualization of business strategy under conditions of uncertainty. They argue that organisations can assume three strategic postures in response to uncertainty and three types of actions to implement that strategy. This combination of frameworks provides a fresh means of understanding the importance of uncertainty and different actors’ strategies in the development of value chains in a developing country context.
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Sunil Tankha, Sunita Ranabhat, Laxmi Dutt Bhatta, Rucha Ghate and Nand Kishor Agrawal
Developed countries agreed at COP15 to pay US$100bn annually for adaptation and mitigation in developing countries. This paper aims to evaluate how prepared are donors and…
Abstract
Purpose
Developed countries agreed at COP15 to pay US$100bn annually for adaptation and mitigation in developing countries. This paper aims to evaluate how prepared are donors and recipients to spend this money well by analyzing institutional and organizational capabilities for climate change adaptation in least developed country (LDC) administrations using the case of Nepal, a country which can be considered to be an archetypal LDC.
Design/methodology/approach
The authors conducted over 100 in-depth structured qualitative interviews with government officials from across the organizational chain in the ministries concerned with climate change, ranging from the lowest-ranked employee to just under the ministerial ranks. This was supplemented with detailed surveys of three representative communities from different ecological zones in Nepal. Data were analyzed using Ostrom’s IAD framework.
Findings
Local administrations are more motivated and capable than are given credit for by donors but nevertheless face critical barriers in being able to function autonomously and confront climate change challenges. These barriers create three interrelated challenges: An organizational challenge to create intrinsic incentives which empower and grant autonomy to front line agents, an institutional challenge to go beyond accountability-focused process validation and a policy-choice challenge which avoids the temptation to write aspirational policies without clear and feasible strategies to obtain the resources necessary for their implementation.
Practical implications
The findings point to ways climate assistance can be restructured for more reach and effectiveness.
Originality/value
This paper fills a gap in the literature because community structures and institutions have been extensively analyzed in the context of adaptation, but despite being criticized, administrative structures have rarely been directly studied.
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Alastair Orr, Jason Donovan and Dietmar Stoian
Smallholder value chains are dynamic, changing over time in sudden, unpredictable ways as they adapt to shocks. Understanding these dynamics and adaptation is essential for these…
Abstract
Purpose
Smallholder value chains are dynamic, changing over time in sudden, unpredictable ways as they adapt to shocks. Understanding these dynamics and adaptation is essential for these chains to remain competitive in turbulent markets. Many guides to value chain development, though they focus welcome attention on snapshots of current structure and performance, pay limited attention to the dynamic forces affecting these chains or to adaptation. The paper aims to discuss these issues.
Design/methodology/approach
This paper develops an expanded conceptual framework to understand value chain performance based on the theory of complex adaptive systems. The framework combines seven common properties of complex systems: time, uncertainty, sensitivity to initial conditions, endogenous shocks, sudden change, interacting agents and adaptation.
Findings
The authors outline how the framework can be used to ask new research questions and analyze case studies in order to improve our understanding of the development of smallholder value chains and their capacity for adaptation.
Research limitations/implications
The framework highlights the need for greater attention to value chain dynamics.
Originality/value
The framework offers a new perspective on the dynamics of smallholder value chains.
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