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1 – 10 of over 6000REZA Mohamad, SUTHIWARTNARUEPUT Kamonchanok and PORNCHAIWISESKUL Pongsa
Liner connectivity plays an important role as a determinant in how a country is able to gain access to world markets. Liner shipping as the medium of seaborne transport for import…
Abstract
Liner connectivity plays an important role as a determinant in how a country is able to gain access to world markets. Liner shipping as the medium of seaborne transport for import and export of manufactured and semi-manufactured goods plays a significant part in international trade, which in turn potentially contribute towards the prosperity of a country and its surrounding region. Liner Shipping Connectivity Index (LSCI) is one of the most common benchmark to see how well connected a country in global trade, where it consists of five components, namely the number of ships, carrying capacity, ship size, services provided, and the number of companies that deploy container ships calling a country’s ports. This paper aims to tally from the most to the least which LSCI component contributes in improving the shipping connectivity with the most impact, in six Maritime South-East Asian countries, i.e., Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. By descriptive statistics, correlation analysis, and panel data, this paper finds that the country port’s capacity to accept larger ship size provides the most significant impact towards the improvement of the connectivity in the region. To attract companies to deploy largest ship, the improvement needs to be complemented with the capacity that can meet the expected volume, offering a variety of service, and good turnaround speed at the country’s port. The paper is expected to present not only indicative recommendations on which logistics connectivity initiative needs to be invested first, but also necessary proposals to develop a programme for building the region’s overall logistics industry.
Paper Code: SLC-206
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Cornelis van Dorsser and Poonam Taneja
The paper aims to present an integrated foresight framework and method to support decision-makers who are confronted with today’s complex and rapidly changing world. The method…
Abstract
Purpose
The paper aims to present an integrated foresight framework and method to support decision-makers who are confronted with today’s complex and rapidly changing world. The method aims at reducing the degree of uncertainty by addressing the inertia or duration of unfolding trends and by placing individual trends in a broader context.
Design/methodology/approach
The paper presents a three-layered framework and method for assessing megatrends based on their inertia or duration. It suggests that if long-term trends and key future uncertainties are studied in conjunction at a meta-level and placed in a broader multi-layered framework of trends, it can result in new insights.
Findings
The application of the proposed foresight method helps to systematically place a wide range of unrelated trends and key uncertainties in the context of a broader framework of trends, thereby improving the ability to understand the inertia, direction and mutual interaction of these trends.
Research limitations/implications
The elaboration of identified trends and key uncertainties is partly case-specific and subject to interpretation. It is aimed at illustrating the potential use of the framework.
Practical implications
The paper presents a new approach that may, by itself or in combination with existing foresight methods, offer new means for anticipating future developments.
Social implications
The use of the proposed framework has potential to provide better insight in the complexity of today’s rapid-changing world and the major transitions taking place. It aims to result in sharper foresight by reducing epistemic uncertainty for decision-makers.
Originality/value
The paper demonstrates how megatrends, Kondratieff waves and century-long trends can be placed in an integrated framework and analysed in conjunction.
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Marvin J. Cetron, Owen Davies, Fred DeMicco and Mohan Song
The purpose of this study is to continue to forecast trends in the hospitality and travel industry with practical implications.
Abstract
Purpose
The purpose of this study is to continue to forecast trends in the hospitality and travel industry with practical implications.
Design/methodology/approach
This study is the updated version of our previous list of trends. The new edition updates the previous report on the implications for the hospitality industry of major trends now shaping the future. We focus mainly on energy, environmental and labor force and work trends and discuss sub-trends under each trend. We then implicate how the trends affect the Hospitality and Travel industry.
Findings
We shared implications under each sub-trends.
Originality/value
The value of this article is to analyze the impact of the environment on the Hospitality and Travel industry from a macro perspective. For each trend, we implicate an estimate for future trends. We hope this article sheds light on the prediction of the Hospitality and Travel industry.
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Ian Yeoman and Una McMahon‐Beattie
The purpose of this paper is to gain an understanding of why the phenomena of knitting is important in society and an explanation of the underlying currents for tourism.
Abstract
Purpose
The purpose of this paper is to gain an understanding of why the phenomena of knitting is important in society and an explanation of the underlying currents for tourism.
Design/methodology/approach
The paper presents a futurist's observations and reflections.
Findings
Why is knitting making a comeback? Consumers are shutting the door on the world and cocooning thus returning to the world of crafts and hobbies as a way to seek enjoyment. An interest in authenticity and the past as an escape from the present. Single people looking for something to do in an urban world, thus some consumers have turned to knitting. Today, the authors are seeing niche holiday providers offering knitting cruises, knitting escapes and knitting adventures. For New Zealand the home Merrino wool knitting tourism has the potential to be bigger than bungy jumping (some would say).
Originality/value
The trends paper provides an insight of the key trends from a societal perspective of what knitting means and its manifestation as a tourism experience. The value to operators is understanding those trends in context of why the phenomena is occurring.
Millennials travel more than any other generation and they account now for some 40 percent of Europe’s outbound travel. As Millennials travel peaks, the purpose of this paper is…
Abstract
Purpose
Millennials travel more than any other generation and they account now for some 40 percent of Europe’s outbound travel. As Millennials travel peaks, the purpose of this paper is to shed light on European Millennials, their characteristics and travel behaviors, and how their travel trends are shaping the present – and future – of the tourism industry.
Design/methodology/approach
The current study is based on content analysis of up-to-date academic publications and tourism industry reports.
Findings
The common characteristics and travel behaviors of Millennials drive four key tourism micro-trends: creative tourism, off-the-beaten-track tourism, alternative accommodation and fully digital tourism. Based on the growing importance of Millennials in global travel, these micro-trends are re-shaping supply and demand and transform the tourism and hospitality industries.
Originality/value
The study provides a novel understanding of Millennial travel, their characteristics and travel behaviors. The micro-trends identified are affecting destinations, hotels, attractions and other tourism businesses, as they re-define what tourists want and how they want it. Furthermore, these change drivers are expected to increase as Millennial travel continues to grow.
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Baasankhuu Ganzorig and Dashnyam Nachin
Despite the worldwide stagnation in FDI, interest in Mongolia on the part of foreign investors, especially those from East Asia, North America, has grown over the last few years…
Abstract
Despite the worldwide stagnation in FDI, interest in Mongolia on the part of foreign investors, especially those from East Asia, North America, has grown over the last few years, mainly in the mining, trade and service sectors. The increase of FDI into Mongolia can be linked with the Mongolian government’s efforts to establish a more favorable external and internal legal environment in order to provide a free and open regime for business, the shifting tendency of world market center from traditional Europe, America to Asia, namely to China, resolving the “big debt” issue between Mongolia and Russian Federation which open new favorable opportunities for intensification of foreign investment inflows, increased domestic private savings and lastly Mongolia’s GDP steady growth rate during last years. The purpose of this paper is to review FDI inflows into Mongolia, detailing the sectors benefiting from this investment and the countries where it originates, based on information gathered in the period up to 2005.
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Shih-Mo Lin and Hong Linh Dinh
This paper applies the decomposition method proposed by Wang et al. (2013), together with the multi-national input-output tables from World Input-Output Database (WIOD) to…
Abstract
This paper applies the decomposition method proposed by Wang et al. (2013), together with the multi-national input-output tables from World Input-Output Database (WIOD) to estimate the value-chain transition in East Asian production network. Specifically, we calculate and examine the domestic value-added absorbed abroad, foreign value-added embodied in country’s gross exports, and vertical specialization measures to explore the relative positions of major East Asian countries in the global production chain over the period of 1995-2011. The analyses are at country-aggregate, country-sector, bilateral-aggregate and bilateral-sector levels. Based on our results, we answer the important question of whether Taiwan and South Korea have used China’s production chains as an intermediary to re-export their products to other countries in the world. Furthermore, we answer the question that over the 1995-2011 periods, have Taiwan and South Korea exploited cheap labor from China to add value to their products before re-exported them to the rest of the world?
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Services trade has registered a dynamic evolution in almost all developing countries. Despite the rising share in world services trade by developing countries, the gap between…
Abstract
Services trade has registered a dynamic evolution in almost all developing countries. Despite the rising share in world services trade by developing countries, the gap between developed and developing countries in service exports have been widening. Developed economies have become service exporters, while developing economies are found to be more receptive towards service imports. This paper attempts to gain some insight into the actual nature and extent of exports of services from developing countries, and examines their emergence as significant players of services trade as well as the underlying factors and broader implications. One of the conclusions of this paper is that developing countries successfully export a variety of services to both developed and developing countries, whereas a relatively limited number of developing countries seem to be heavily involved in services exports trade across a range of sectors. This, alternatively, indicates that services exports, on a large international level, are associated with higher levels of development and that not all developing countries are yet in a position to be large-scale exporters.
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Jiang Lu and Chen Zhang
Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by…
Abstract
Purpose
Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.
Design/methodology/approach
It was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.
Findings
The key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.
Originality/value
Achieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.
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Harendra Kumar Behera and Inder Sekhar Yadav
The purpose of this paper is to examine the issue of high current account deficit (CAD) from various perspectives focussing its behaviour, financing pattern and sustainability for…
Abstract
Purpose
The purpose of this paper is to examine the issue of high current account deficit (CAD) from various perspectives focussing its behaviour, financing pattern and sustainability for India.
Design/methodology/approach
To begin with the trends, composition and dynamics of CAD for India are analysed. Next, the influence of capital flows on current account is investigated using Granger non-causality test proposed by Toda and Yamamoto (1995) between current account balance (CAB) to GDP ratio and financial account balance to GDP ratio. Also, the sustainability of India’s current account is examined using different econometrics techniques. In particular, Husted’s (1992), Johansen’s cointegration and vector error correction model (VECM) is applied along with conducting unit root and structural break tests wherever applicable. Further, long-run and short-run determinants of the CAB are estimated using Johansen’s VECM.
Findings
The study found that the widening of CAD is due to fall in household financial savings and corporate investments. Also, it was found that a large part of India’s CAD has been financed by FDI and portfolio investments which are partly replaced by short-term volatile flows. The unit root and cointegration tests indicate a sustainable current account for India. Further, econometric analysis reveals that India’s current account is driven by fiscal deficit, terms of trade growth, inflation, real deposit rate, trade openness, relative income growth and the age dependency factor.
Practical implications
Since India’s CAD has widened and is expected to widen primarily due to rise in gold and oil imports, policy makers should focus on achieving phenomenal export growth so that a sustainable current account is maintained. Also, with rising working-age and skilled population, India should focus more on high-value product exports rather than low-value manufactured items. Further, on the structural side it is important to correct fiscal deficit as it is one of the important factors contributing to large CAD.
Originality/value
The paper is an important empirical contribution towards explaining India’s CAD over time using latest and comprehensive data and econometric models.
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