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Article
Publication date: 20 July 2022

Seema Saini, Utkarsh Kumar and Wasim Ahmad

To the best of our knowledge, no study has examined credit cycle synchronizations in the context of emerging economies. Studying the credit cycles synchronization across…

Abstract

Purpose

To the best of our knowledge, no study has examined credit cycle synchronizations in the context of emerging economies. Studying the credit cycles synchronization across BRICS (Brazil, Russia, India, China and South Africa) countries is crucial given the magnitude of trade and financial integration among member counties. The enormity of the trade and financial linkages among BRICS countries and growth spillovers from emerging economies to advanced and low-income countries provide the rationale and motivation to study the synchronization of credit cycles across BRICS.

Design/methodology/approach

The study investigates the credit cycles coherence across BRICS economies from 1996Q2 to 2020Q4. The synchronization analysis is done using the noval wavelet approach. The analysis examines not only the coherence but also the extent of credit cycle synchronization that varies across frequencies and over time among different pairs of nations.

Findings

The authors find heterogeneity in the credit cycles' synchronization among the member nations. China and India are very much in sync with the other BRICS countries. China's high-frequency credit cycle mostly leads the other countries' credit cycles before the global financial crisis and shows a mix of lead/lag relationships post-financial crisis. Interestingly, most of the time, India's low-frequency credit cycles lead the member countries' credit cycles, and Brazil's low frequency credit cycle lag behind the other BRICS countries' credit cycles, except for Russia. The results are crucial from the macroprudential policymaker's perspective.

Research limitations/implications

The empirical design is applicable to a similar set of countries and may not directly fit each emerging economy.

Practical implications

The findings will help understand the marked deepening of trade, technology, investment and financial interdependence across the world. BRICS acronym requires no introduction, but such analysis may help understand the interaction at the monetary policy level.

Originality/value

This is the first study that highlights the need to understand the credit variable interactions for BRICS nations.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 21 February 2022

Alcides Padilla and Jorge David Quintero Otero

This article offers a review of the literature on regional business cycles (BCs) in emerging economies. The objective is synthesizing the existing studies based on…

Abstract

Purpose

This article offers a review of the literature on regional business cycles (BCs) in emerging economies. The objective is synthesizing the existing studies based on theoretical, empirical and methodological approaches.

Design/methodology/approach

The methodological framework includes the following stages: research questions, bibliography location, the selection of articles and the evaluation of the literature, analysis and synthesis, and the reporting and use of results.

Findings

The evidence suggests that expansionary phases last longer than recessions'; public expenditure shows a pro-cyclical behavior; and factors such as productive structure and international trade explain the synchronization of regional BCs.

Originality/value

Up until now, there is no research that performs a review of regional BCs in emerging economics.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 5 March 2018

Jong Kyou Jeon

The purpose of this paper is to examine the relationship between trade integration and intra-regional business cycle synchronization using value-added trade data. Most…

Abstract

Purpose

The purpose of this paper is to examine the relationship between trade integration and intra-regional business cycle synchronization using value-added trade data. Most empirical studies analyzing the relationship between trade integration and business cycle synchronization use gross trade data which suffer from double-counting. Double-counting distorts the empirical results on the estimated relationship between trade integration and business cycle synchronization. This paper explores the relationship using value-added trade data to be free from distortions caused by double-counting.

Design/methodology/approach

Gross trade data on exports and imports are decomposed into sub-categories following Koopman et al. (2014). Then, value-added data on exports and imports without double-counted terms are built to measure value-added bilateral trade intensity and value-added intra-industry trade intensity. Using this value-added trade intensities, the author run panel regressions for Europe and East Asian countries to examine how value-added trade intensities are correlated with output co-movements.

Findings

The paper finds that for European countries, the positive association between trade and business cycle co-movements is more evidently observed and the role of intra-industry trade increasing the business cycle synchronization is also more clearly revealed by value-added trade data. On the other hand, for East Asian countries, value-added trade data reveal that it is very uncertain whether increased trade contributes to stronger synchronization of business cycles and intra-industry trade is truly the major factor which deepens the business cycle co-movements.

Research limitations/implications

First, the paper examines the relationship only by running static panel regression. There is a need to employ different methodologies such as instrumental variable regression or dynamic panel regression. Second, financial integration and policy coordination within a region are also other relevant factors which influence the intra-regional business cycle synchronization. There is a need to examine the relationship using value-added trade data with the variables measuring the degree of financial integration and policy coordination. Third, value-added trade data used in this paper has limited coverage of East Asian countries. There is also a need to extend the value-added data set to cover more countries and industries.

Originality/value

Most empirical literature studying the relationship between trade integration and business cycle synchronization rely on gross trade data. This paper would be the first attempt to study the relationship using value-added trade data. Duval et al. (2014) also use value-added data, but their value-added data are not supported by a solid accounting framework which decomposes a country’s gross exports into various value-added components by source and additional double-counted terms. Value-added data in this paper computed based on Koopman et al. (2014) are the total domestic value exports that are ultimately consumed abroad via final and intermediate exports. The author believes that value-added data in this paper are most relevant in estimating the relationship between trade integration and business cycle synchronization.

Details

Journal of Korea Trade, vol. 22 no. 1
Type: Research Article
ISSN: 1229-828X

Keywords

Article
Publication date: 24 January 2020

Mourad Chelik and Rachid Beghdad

Many synchronization approaches are based on low-level time capturing, causing a tight integration with the Media Access Control (MAC) layer. Alternatively, this study…

Abstract

Purpose

Many synchronization approaches are based on low-level time capturing, causing a tight integration with the Media Access Control (MAC) layer. Alternatively, this study aims to present a hybrid approach combining both receiver–receiver and sender–receiver schemes to reduce the variation of two-way message exchange durations, in heavy-load networks. To achieve network-wide synchronization, a variant of Prim’s algorithm (Cormen et al., 2009) is used to build a spanning tree, guaranteeing the minimum number of ancestors and limited error propagation. The simulation results show that the proposed approach is very competitive with a set of the most-cited synchronization protocols. In addition, a new synchronization simulator SynSim was developed using C++ language

Design/methodology/approach

To achieve network-wide synchronization, a variant of Prim's algorithm (Cormen et al., 2009) is used to build a spanning tree, guaranteeing the minimum number of ancestors and limited error propagation.

Findings

Simulation results show that the proposed approach is very competitive with a set of the most-cited synchronization protocols. In addition, a new synchronization simulator SynSim was developed using in C++ language.

Research limitations/implications

It can be concluded from the experiments that MDSP is suitable for WSNs especially if MAC layer timestamping is not possible. So, the mean delays synchronization protocol (MSDP) is suitable to achieve time synchronization in single-hop and multi-hop networks without the MAC layer timestamping in large wireless sensor network (WSN) deployments.

Practical implications

A future enhancement of MDSP could be switching between the traditional timestamping and the new proposed timestamping based on a given threshold, which is the number of nodes in the neighborhood and the load of the network. It will be also interesting to test it in a prototype. The proposed solution can be used in practice to implement the Time-division multiple access (TDMA) protocol in a WSN. In addition, the proposed simulator can be used in a computer network synchronization protocols course.

Originality/value

To the best of authors’ knowledge, this study’s contribution is original. In addition, the authors implemented a new synchronization simulator

Details

International Journal of Pervasive Computing and Communications, vol. 16 no. 1
Type: Research Article
ISSN: 1742-7371

Keywords

Article
Publication date: 4 July 2018

Yanjun Lu, Li Xiong, Yongfang Zhang, Peijin Zhang, Cheng Liu, Sha Li and Jianxiong Kang

This paper aims to introduce a novel four-dimensional hyper-chaotic system with different hyper-chaotic attractors as certain parameters vary. The typical dynamical…

Abstract

Purpose

This paper aims to introduce a novel four-dimensional hyper-chaotic system with different hyper-chaotic attractors as certain parameters vary. The typical dynamical behaviors of the new hyper-chaotic system are discussed in detail. The control problem of these hyper-chaotic attractors is also investigated analytically and numerically. Then, two novel electronic circuits of the proposed hyper-chaotic system with different parameters are presented and realized using physical components.

Design/methodology/approach

The adaptive control method is derived to achieve chaotic synchronization and anti-synchronization of the novel hyper-chaotic system with unknown parameters by making the synchronization and anti-synchronization error systems asymptotically stable at the origin based on Lyapunov stability theory. Then, two novel electronic circuits of the proposed hyper-chaotic system with different parameters are presented and realized using physical components. Multisim simulations and electronic circuit experiments are consistent with MATLAB simulation results and they verify the existence of these hyper-chaotic attractors.

Findings

Comparisons among MATLAB simulations, Multisim simulation results and physical experimental results show that they are consistent with each other and demonstrate that changing attractors of the hyper-chaotic system exist.

Originality/value

The goal of this paper is to construct a new four-dimensional hyper-chaotic system with different attractors as certain parameters vary. The adaptive synchronization and anti-synchronization laws of the novel hyper-chaotic system are established based on Lyapunov stability theory. The corresponding electronic circuits for the novel hyper-chaotic system with different attractors are also implemented to illustrate the accuracy and efficiency of chaotic circuit design.

Details

Circuit World, vol. 44 no. 3
Type: Research Article
ISSN: 0305-6120

Keywords

Article
Publication date: 2 May 2008

Ajit Kambil

The re‐engineering movement focused on obliterating functional silos and creating processes. As processes become more prevalent, today's challenge is to overcome process

953

Abstract

Purpose

The re‐engineering movement focused on obliterating functional silos and creating processes. As processes become more prevalent, today's challenge is to overcome process silos and synchronize them within and across companies. This paper lays out the key drivers of synchronization challenges and many responses to address them.

Design/methodology/approach

The article defines synchronization and uses examples to articulate its impact on businesses. It then identifies six key drivers of synchronization failure: uncertainty, ambiguity, complexity, volatility, urgency, and differing agency incentives across processes. The article then outlines strategies for responding to these shortcomings and examples of organizations that derive competitive advantages from synchronization.

Findings

The article presents five steps to improving synchronization within an organization: identify key synchronization opportunities; identify responses to the opportunities; stimulate, evaluate and examine interdependencies; execute select initiatives; and evaluate and iterate.

Originality/value

Synchronization is difficult, and firms who successfully synchronize key processes are likely to have advantages that are difficult to replicate. As we enter an economic slowdown in the United States, managers may discover that improving synchronization will be a better strategic move than simply cutting costs.

Details

Journal of Business Strategy, vol. 29 no. 3
Type: Research Article
ISSN: 0275-6668

Keywords

Open Access
Article
Publication date: 30 April 2019

Erno Salmela and Janne Huiskonen

The purpose of this paper is to promote decision-making structures between the customer and the supplier in a highly uncertain environment. This phenomenon of…

2185

Abstract

Purpose

The purpose of this paper is to promote decision-making structures between the customer and the supplier in a highly uncertain environment. This phenomenon of demand-supply chain synchronisation includes sharing of high-quality and timely demand and supply information in order to improve the quality and speed of decision-making.

Design/methodology/approach

The study was carried out as an abductive case study, which started from empirical observations that did not match the prior theoretical framework. Through abductive reasoning and empirical experiments, the prior framework was extended to a new synchronisation model and tools that better accommodate the observed need.

Findings

A new co-innovation toolbox was developed to create common understanding of demand-supply chain synchronisation between the customer and the supplier. The toolbox includes Demand Visibility Point-Demand Penetration Point, Supply Visibility Point–Supply Penetration Point and Integrative Synchronisation tools.

Research limitations/implications

The study extends the current models and tools of demand-supply chain synchronisation. With the new toolbox, the development needs of decision-making structures can be identified more comprehensively than with the current tools.

Practical implications

The developed visual toolbox helps partners create a common understanding of problems and development possibilities in demand-supply chain synchronisation in a highly uncertain environment. Common understanding is a starting point for changing decision-making structures to improve the overall performance of a demand-supply chain.

Originality/value

The new toolbox is both more comprehensive and more detailed than the previous tools.

Details

International Journal of Operations & Production Management, vol. 39 no. 4
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 7 August 2019

Zhengyu Huang, Lingyu Chen, Lianchao Zhang, Shixun Fan and Dapeng Fan

This paper aims to analyze the key factors influencing the synchronization performance of distributed motion control system and to improve the synchronization performance…

Abstract

Purpose

This paper aims to analyze the key factors influencing the synchronization performance of distributed motion control system and to improve the synchronization performance for peripherals control of this system.

Design/methodology/approach

This paper deals with the software synchronization problems of distributed motion control system based on real-time Ethernet. First, combined with communication and control tasks, the key factors affecting synchronization performance of system are analyzed. Then, aiming at key factors and considering the synchronization of system bus, protocol conversion and task scheduling, a software synchronization method based on CANopen protocol and real-time Ethernet is proposed. Finally, the feasibility of this method is verified by establishing distributed motion control system and testing the synchronization performance of terminal control signals of slaves.

Findings

Based on this method, the results show that the synchronization accuracy for peripherals control of all slaves could be about 100 ns.

Practical implications

This research provides high-precision synchronization method, which could lay a foundation for the application of distributed motion control system in the field of assembly automation, such as multi-axis assembly robots control.

Originality/value

In distributed motion control system, many factors affect the synchronization performance. At present, there is no synchronization method that could comprehensively consider these factors. This paper not only analyzes the key factors influencing the synchronization performance of system but also proposes a synchronization method. Therefore, the method proposed in this paper has certain theoretical value and engineering significance.

Details

Assembly Automation, vol. 39 no. 5
Type: Research Article
ISSN: 0144-5154

Keywords

Article
Publication date: 9 May 2016

Haigang Zhou

The purpose of this paper is to study synchronization in stock index cycles across 82 countries and the linkage between macroeconomic and financial integration and stock…

Abstract

Purpose

The purpose of this paper is to study synchronization in stock index cycles across 82 countries and the linkage between macroeconomic and financial integration and stock market synchronization.

Design/methodology/approach

The author document the synchronization structure of the world equity index cycles and its evolution over time. The author examine the explanatory power of various economic and financial variables on cycle comovements.

Findings

Trade openness, capital openness, and an EU membership contribute to higher stock index cycle synchronization. Additionally, the macroeconomic and financial variables have asymmetric impacts on countries of different development levels.

Originality/value

The author is the first to thoroughly chronicle the turning points, i.e., bear and bull regimes, of world equity indexes and empirically examine determinants of their cyclical comovement across nations.

Details

Managerial Finance, vol. 42 no. 5
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 March 2013

Shu‐yan Jiang, Gang Luo, Su Chen, Wen‐han Zhao and Qi‐zhong Zhou

The purpose of this paper is to introduce several synchronization test methods of Network‐on‐Chip (NoC) at multi‐clock domains by digital logic circuits.

Abstract

Purpose

The purpose of this paper is to introduce several synchronization test methods of Network‐on‐Chip (NoC) at multi‐clock domains by digital logic circuits.

Design/methodology/approach

First, the authors gave the structure of NoC, the test methods for NoC in multi‐clock domains, including Built‐in Self Test (BIST) structure and the architecture of embedded core test. Then the authors approached four different synchronization structures: two‐level trigger, two kinds of lock methods, toggle and pulse synchronization methods. Based on the NoC work conditions, the authors built the experiment structures of different methods, and obtained the experiment results at high frequencies.

Findings

From the experiments at high frequency, it can be seen that the methods of toggle and the pulse methods are prone to failed synchronization. Therefore, the lock method is more appropriate for NoC under multiple clock domains.

Originality/value

In this paper, several synchronization test methods of NoC at multi‐clock domains are discussed and compared, and the best one determined.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 32 no. 2
Type: Research Article
ISSN: 0332-1649

Keywords

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