Search results

Trade relations between China and the USA have been marked by conflict, especially since China’s membership in the World Trade Organization (WTO). These conflicts have been analyzed from a variety of perspectives, including the loss of jobs in the USA due to Chinese imports, competition in high technology sectors and the balance of trade. Conceptual frameworks have employed models of domestic differences as well as models of international power distribution. Among domestic differences examined are the existence of state-owned enterprises in China compared to the domination of the USA economy by private firms, the large role of the Communist Party in China and the influence of labor and environmental and labor groups in the USA. Power distribution theories focus on the systemic effects of the distribution of power on trade openness and on the pattern of intra-bloc versus between-bloc trade. This paper aims to examine the role of macroeconomic policy factors in China and the USA, in particular, the role of national patterns of savings, investment and consumption (both private and government). The paper concludes that insofar as the balance of trade is an important component of the trade conflict, domestic macroeconomic factors continue to be important. The resolution of the conflict will have to take into account the respective macroeconomic policies of China and the USA.

The design is an analytic case study of US–China trade relations with a particular focus on the balance of trade. The conceptual framework employed involves an analysis of macroeconomic policy categories, especially the overall pattern of savings (household, firm and government), investment and consumption. Process tracing over time since China's membership in the WTO is carried out with an eye toward the relationship between the balance of trade and macroeconomic policy.

The main findings are that there is a strong relation between the respective macroeconomic policies of the USA and China and their trade relations. The domestic political economy of the USA encourages consumption and a low rate of savings. The opposite is true of China where household income is low by design and national savings are high. China depends on the USA to consume what is not consumed domestically. The USA depends on Chinese imports for additional consumption encouraged by its low rate of savings. The two economies are locked in a mutual dependence.

Key research implications are that there should be more focus on domestic macroeconomic policies since these are the root causes of the trade imbalance. This is not to say that trade frictions centering on jobs, subsidies and competition in high technology are unimportant. However, without the resolution of differences in the management of macroeconomic policies, trade conflicts between the USA and China will continue.

Practical implications are huge, in some ways much more important than the academic implications. Macroeconomic policy differences in savings, investment, government spending, taxation and infrastructure are important. Furthermore, there are available tools in both China and the USA to manage the macroeconomy, particularly, monetary and fiscal policy.

One implication of this paper is that satisfaction or dissatisfaction of workers is dependent on income distribution which in turn affects trade. Treatment of people in different socioeconomic categories, such as the elderly, the young, and those at working age are a function of macroeconomic policies.

Many people have written about macroeconomics. It is a conventional subfield of economics. The originality of this paper lies in its advocacy of a shift of focus and attention and in the argument that traditional macroeconomics is related to trade. Despite its importance, macroeconomics has not been the center of attention for most political scientists, though economists have made it more central.

This paper examines the moderating effect of good corporate governance on the association between internal information quality and tax savings.

This study uses a quantitative approach. It employs an Australian sample of analysis composed of 1,295 firm-year observations from the period 2017 to 2021. Data relating to corporate governance are hand-collected from the annual reports.

Based on the result of the analysis, this study demonstrates that the interaction between corporate governance and quality of internal information is positively associated with tax savings. Superior corporate governance is critical in activating the effect of internal information quality on tax savings. This finding is robust to a battery of robustness checks and additional tests.

This examination utilizes only publicly traded companies from one developed country.

For the company management, an effective governance structure must be at the top because it will determine the development of all other areas. This study emphasizes the need to continuously improve the effectiveness of corporate governance practices. For long-term investors, an important indicator that can be considered in assessing the “safety” of a company’s tax strategy is its corporate governance aspects. For regulators, this study is expected to assist regulators in creating a more adequate corporate governance implementation and disclosure package to be implemented by corporations in the future.

This study provides new evidence on a crucial construct that can strengthen the relationship between internal information quality and tax savings.

This study investigates how students' propensity towards indebtedness affects their savings behaviour. Additionally, the study examines the moderating role of financial literacy in the relationship between propensity towards indebtedness and savings behaviour.

Questionnaires were administered to undergraduate students from the University of Ghana Business School. A total of 370 valid responses were used in the empirical analysis. The hypothesised relationships were tested using partial least square – structural equation modelling.

The structural model results suggest that students' propensity towards indebtedness is negatively related to their savings behaviour. Further, the results demonstrate that financial literacy moderates the negative association between students' propensity towards debt and savings behaviour.

This study highlights students' propensity towards indebtedness and how it impacts their savings behaviour.

The e-commerce boom presents new challenges for last-mile delivery (LMD), which may be mitigated by new delivery technologies. This paper evaluates the impact of mobile parcel lockers (MPL) on costs and CO₂ equivalent (CO₂e) emissions in existing LMD networks, which include home delivery and shipments to stationary parcel lockers.

To describe customers’ preferences, we design a multinomial logit model based on recipients’ travel distance to pick-up locations and availability at home. Based on route cost estimation, we define the operating costs for MPLs. We devise a mathematical model with binary decision variables to optimize the location of MPLs.

Our study demonstrates that integrating MPLs leads to additional cost savings of 8.7% and extra CO₂e emissions savings of up to 5.4%. Our analysis of several regional clusters suggests that MPLs yield benefits in highly populous cities but may result in additional emissions in more rural areas where recipients drive longer distances to pick-ups.

This paper designs a suitable operating model for MPLs and demonstrates environmental and economic savings. Moreover, it adds recipients’ availability at home to receive parcels improving the accuracy of stochastic demand. In addition, MPLs are evaluated in the context of several regional clusters ranging from large cities to rural areas. Thus, we provide managerial guidance to logistics service providers how and where to deploy MPLs.

The promulgation of group purchasing organizations (GPOs) into the healthcare (HC) sector is an invaluable procurement strategy to manage the suppliers effectively. This study aims to identify and prioritize the factors of integrating GPOs into the HC sector on the perspectives of the developing countries such as India.

The factors are identified from current literature exploration, experts’ support and experience surveys. The factors are scrutinized and shortlisted using the Delphi technique and analysed further using the best-worst model method.

The findings of the study highlight the cost reduction, fair distribution of savings and healthcare supply chain (HCSC) data standardization among others to be the most prioritized drivers. The consulting services provided by GPOs including training and development as a result of high competitiveness in the HC market has been prioritized the least.

The study bears some important implications for decision and policymakers. The managers should consider factors, namely, cost reduction, fair distribution of savings and HCSC data standardization on a priority basis that acts as motivation for the HC providers to join the GPOs.

The study provides valuable insights for HC providers to participate in the GPOs for cost savings and enhance the performances.

The COVID-19 pandemic has wrought havoc on economies around the world. The purpose of this study is to learn about the distributional impacts of the pandemic.

The authors contribute new theoretical and empirical evidence on the distributional impacts of the pandemic on different income groups in a multicountry setting. The authors analyze rich individual-level survey data covering 6,082 respondents from China, Italy, Japan, South Korea, the United Kingdom and the United States. The results are robust to various econometric models, including ordinary least squares (OLS), Tobit and ordered probit models with country-fixed effects.

The authors find that while the outbreak has no impact on household income losses, it results in a 63% reduction in the expected own labor income for the second-poorest income quintile. The pandemic impacts are most noticeable for savings, with all the four poorer income quintiles suffering reduced savings ranging between 5 and 7% compared to the richest income quintile. The poor are also less likely to change their behaviors regarding immediate prevention measures against COVID-19 and healthy activities. The authors also found countries to exhibit heterogeneous impacts.

Designing tailor-made social protection and health policies to support the poorer income groups in richer and poorer countries can generate multiple positive impacts that help minimize the negative and inequality-enhancing pandemic consequences. These findings are relevant not only for COVID-19 but also for future pandemics.

The authors theoretically and empirically investigate the impacts of the pandemic on poorer income groups, while previous studies mostly offer empirical analyses and focus on other sociodemographic factors. The authors offer a new multicountry analysis of several prevention measures against COVID-19 and specific health activities.

This study aims to revisit the empirical debate about the asymmetric relationship between oil prices, energy consumption, CO₂ emissions and economic growth in a panel of 184 countries from 1981 to 2020.

A relatively new research method, the PVAR system GMM, is applied.

The outcome of the PVAR system GMM model at the group level in the study suggests that oil prices exert a positive but statistically insignificant effect on economic growth. Energy consumption is inversely related to economic growth but statistically significant, and the correlation between CO₂ emissions and economic growth is negative but statistically insignificant. The Granger causality test indicates that oil prices, CO₂ emissions, oil rents, energy consumption and savings jointly Granger-cause economic growth. A unidirectional causality runs from energy consumption, savings and economic growth to oil prices. At countries’ income grouping levels, oil prices, oil rent, CO₂ emissions, energy consumption and savings jointly Granger-cause economic growth for the high-income and upper-middle-income countries groups only, while those variables did not jointly Granger-cause economic growth for the low-income and lower-middle-income countries groups. The modulus emanating from the eigenvalue stability condition with the roots of the companion matrix indicates that the model is stable. The results support the asymmetric impacts of oil prices on economic growth and aid policy formulation, particularly the cross-country disparities regarding the nexus between oil prices and growth.

From a methodological perspective, to the best of the author’s knowledge, the study is the first attempt to use the PVAR system GMM and such a large sample group of 184 economies in the post-COVID-19 era to examine the impacts of oil prices on countries’ growth while controlling for other crucial variables, which is noteworthy. Two, using the World Bank categorisation of countries according to income groups, the study adds another layer of contribution to the literature by decomposing the 184 sample economies into four income groups: high-income, low-income, upper-middle-income and lower-middle-income groups to investigate the potential for asymmetric effects of oil prices on growth, the first of its kind in the post-COVID-19 period.

The purpose of this study is to examine two issues, namely the degree of current account deficit (CAD) sustainability and the degree of capital mobility.

The sample for this study comprises 24 Latin American and Caribbean countries, including three regional agreements: Andean Community, MERCOSUR (Mercado Común del Sur), and SICA (Central American Integration System). This study employs the dynamic common correlated effects mean group (DCCEMG) estimator in a panel data set to investigate the long-run relationship between savings and investment along with short-run dynamics.

The findings indicate that CAD is weakly sustainable in the Latin American and Caribbean region, MERCOSUR, and SICA, while CAD is strongly unsustainable in the Andean Community. The sub-period analysis reveals that CAD has been adversely affected by the 2008 crisis. However, in the post-crisis period, CAD has been slowly decreasing in the Latin American and Caribbean region and Andean Community, whereas CAD has continued increasing in MERCOSUR and SICA. Further, the estimates of error-correction terms and short-run coefficients indicate that the Andean Community and MERCOSUR observe a higher degree of long-run and short-run capital mobility than SICA.

The results carry fundamental implications for policy-making processes aimed at maintaining sustainable CADs.

This study gives an alternative interpretation of the “Feldstein-Horioka” coefficient in terms of CAD sustainability and analyses the saving–investment relationship in light of Chudik and Pesaran (2015).

Improving productivity and efficiency has always been crucial for industrial companies to remain competitive. In recent years, the topic of environmental impact has become increasingly important. Published research indicates that environmental and economic goals can enforce or rival each other. However, few papers have been published that address the interaction and integration of these two goals.

In this paper, we identify both, synergies and trade-offs based on a systematic review incorporating 66 publications issued between 1992 and 2021. We analyze, quantify and cluster examples of conjunctions of ecological and economic measures and thereby develop a framework for the combined improvement of performance and environmental compatibility.

Our findings indicate an increased significance of a combined consideration of these two dimensions of sustainability. We found that cases where enforcing synergies between economic and ecological effects were identified are by far more frequent than reports on trade-offs. For the individual categories, cost savings are uniformly considered as the most important economic aspect while, energy savings appear to be marginally more relevant than waste reduction in terms of environmental aspects.

No previous literature review provides a comparable graphical treatment of synergies and trade-offs between cost savings and ecological effects. For the first time, identified measures were classified in a 3 × 3 table considering type and principle.