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1 – 10 of over 46000Procurement by executing agencies, statutory organisations or departments in developing countries responsible for procurement against aid‐funded projects, has received little…
Abstract
Procurement by executing agencies, statutory organisations or departments in developing countries responsible for procurement against aid‐funded projects, has received little attention from academic researchers. This study found that executing agencies’ buying decisions are primarily influenced by economic criteria, with most emphasis on price and timely delivery. The reliability of the supplier is the next most important aspect. Suppliers need to design their offers to these organisational buyers, with due consideration of these criteria. Along with these, the offer also needs to project the supplier's proven ability to supply quality products.
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Ted Schwitzner and Chad M. Kahl
International political economy is an emerging yet specialized field that combines political analysis with the study of markets, trade, and development. With the global economy…
Abstract
Purpose
International political economy is an emerging yet specialized field that combines political analysis with the study of markets, trade, and development. With the global economy having an interdependent effect on politics, environment, and society, and with several major economic events of the last 20 years, the authors perceived a need to provide a guide to the sources in this field. This paper seeks to address this issue.
Design/methodology/approach
The authors identified resources using WorldCat and standard reference sources, such as American Library Association's Guide to Reference Books; the annual American Libraries’ “Outstanding Reference Sources” articles; American Reference Books Annual (ARBA) volumes; Booklist's Editor's Choices articles; and Choice's “Outstanding Academic Titles”. Sources were selected from 2000 to the present, concomitant with development of the global economy in the twenty‐first century.
Findings
This guide contains reference works and internet resources that include or provide access to primary source documentation and statistical studies and tables, as well as handbooks, guides, encyclopedias and dictionaries that place the field in context.
Research limitations/implications
Given the interdisciplinary nature of the field, focus was placed on sources that emphasize the core focus of international political economy. Related fields of study, including globalization, development, environmentalism and social movements, were largely excluded.
Originality/value
The authors found no other comprehensive bibliographies containing reference, primary and statistical sources that cover the field in its breadth during this time period.
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De-Graft Owusu-Manu, Lawrence Martin Mankata, Caleb Debrah, David John Edwards and Igor Martek
Ghana has set an objective of achieving 10% of its energy requirements through renewable sources, by 2020. However, to date, the renewable energy (RE) sector has attracted only…
Abstract
Purpose
Ghana has set an objective of achieving 10% of its energy requirements through renewable sources, by 2020. However, to date, the renewable energy (RE) sector has attracted only marginal investor interest. This paper aims to identify the challenges faced in financing RE in Ghana.
Design/methodology/approach
A comprehensive review of literature in renewable energy finance was conducted and 12 financing challenges were identified. From this list, a questionnaire was developed asking to rank barriers. This was distributed to experts within financial institutions and 32 were returned. A factor analysis and severity index analysis were performed to identify a ranking of challenges impeding RE project financing in Ghana.
Findings
The challenges to RE financing fall into the three broad categories, namely, “economic, commercial and regulatory” challenges. Within these broad constraints, “long payback periods,” “limited track record” and “high upfront cost” are the most severe impediments to obtaining financing for RE.
Practical implications
Identifying the specific conditions that make an investment in RE unattractive, give policymakers set on achieving the 10% RE goal, a way forward in developing a targeted policy that would mitigate identified investor disincentives.
Originality/value
The broad range of potential barriers to investment are known. However, this study combines a specific governmental ambition – encouraging the financing of RE – with a specific set of identified barriers inhibiting that ambition. In this regard, this study identifies exactly where the government needs to act if it is to facilitate investment in RE, as is required for Ghana to reach its 10% RE target.
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The paper aims to determine if a country's Economic Freedom Index value has any relationship to the return of the related country specific exchange traded fund.
Abstract
Purpose
The paper aims to determine if a country's Economic Freedom Index value has any relationship to the return of the related country specific exchange traded fund.
Design/methodology/approach
A total of 36 country specific exchange traded funds were selected for use in this study. The historical returns for 2011, the three‐year period ending in 2011, and the five‐year period ending in 2011 were recorded if available for each exchange traded fund. Each exchange traded fund (ETF) was placed into one of four groups based upon its country's overall Economic Freedom Index value. The range of Economic Index values for each group was the same ones used by the publishers of the Economic Freedom Index. The mean ETF return and standard deviation for 2011, three‐year, and five‐year periods were calculated for each of the four groups. The mean/standard deviation of the Economic Freedom Index and each of its components for 2011, the mean of the three‐year period, and the mean of the five‐year period were calculated for each of the four groups. The degree of statistical significance between the mean returns of the four groups was determined by using ANOVA. The correlation coefficients and the degree of statistical significance were calculated between each component of the index, between each component and the overall index value, and between the overall index value and the ETF returns.
Findings
The correlations between the components of the Economic Freedom Index generally tend to be positive and statistically significant. The correlations between the components of the Economic Freedom Index and the Economic Freedom Index tend to be positive and statistically significant. The correlation between the mean ETF returns of the various groups and the value of the mean Economic Freedom Index tends to be mixed. There appears to be no statistical significance of the difference between the mean ETF returns of each group and the mean overall score of the Economic Freedom Index for that group. For the year 2011 the level of significance was 0.103, for the three‐year period the level of significance was 0.541, and for the five‐year period the level of significance was 0.132. The differences within each group are more than the differences between the groups. The value of the Economic Freedom Index does not appear to correlate with the return of the country specific exchange traded fund.
Originality/value
The paper relates a country's environment for conducting business as represented by its Economic Freedom Index to the equity returns of firms in that country. The results of this study would be of interest to those individuals or institutions making investment decisions regarding country specific exchange traded funds. If a positive correlation exists between the index value and the return of the exchange traded fund, this information could improve the prediction of country specific exchange traded fund returns.
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Examines the economic distribution of demand deposits during 1935 in the USA. Concludes that data on the distribution of money permit a significant advance in the understanding of…
Abstract
Examines the economic distribution of demand deposits during 1935 in the USA. Concludes that data on the distribution of money permit a significant advance in the understanding of the factors reflected in changes in income velocity.
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Louise Curran and Soledad Zignago
This paper explores the regionalisation of the European Union’s supply chains and the impact of enlargement by looking at trends in trade in intermediate products between…
Abstract
This paper explores the regionalisation of the European Union’s supply chains and the impact of enlargement by looking at trends in trade in intermediate products between 1995‐2007. The findings show that enlargement has not significantly impacted overall levels of regionalization although it has led to quite major changes in the division of labor within the EU. In addition, the impacts have been very varied depending on the sector involved. There has been a greater consolidation of the EU supply chain in medium‐tech and up‐market goods while in low‐market and high‐tech goods, market share has been ceded to non‐EU sources.
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Mohammad Masudur Rahman and Chanwahn Kim
The purpose of this paper is to explore the trade and investment potential under the ambit of sub‐regional cooperation comprising the four contiguous countries of Bangladesh…
Abstract
Purpose
The purpose of this paper is to explore the trade and investment potential under the ambit of sub‐regional cooperation comprising the four contiguous countries of Bangladesh, China, India and Myanmar (BCIM).
Design/methodology/approach
The study addressed both intra‐regional and intra‐industrial trade, applying a dynamic gravity model of bilateral trade flows by product group of BEC's 1‐digit product classification, to set a panel data for the period of 1992‐2009.
Findings
The analysis reveals that higher trade transaction costs and tariff between each pair of countries reduce the trade flow. One of the major findings of the paper is that a large part of BCIM's trade has remained unrealized and the trade transaction cost is one of the major trading barriers prohibiting the growth of BCIM intra‐regional trade. The paper concludes that liberalization of non‐policy barriers will spur BCIM's trade, particularly in a time of ongoing global economic and financial crisis.
Practical implications
The study reinforces that improvement in infrastructure that leads to less trade transportation costs should be a necessary step in order to realize BCIM's trade potential. The paper concludes that liberalization of non‐policy barriers will spur BCIM's trade and economic cooperation, particularly in time of ongoing global economic and financial crisis.
Originality/value
This paper is the first‐ever attempt to estimate the trade potential of BCIM countries using dynamic gravity model.
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Cassandra E. DiRienzo, Jayoti Das and John Burbridge
In today's global economy, a country's level of competitiveness has emerged as an important policy tool for business leaders and the impact of many economic and institutional…
Abstract
Purpose
In today's global economy, a country's level of competitiveness has emerged as an important policy tool for business leaders and the impact of many economic and institutional “hard” factors on competitiveness have been studied. The purpose of this paper is to examine the impact that diversity, a “soft” factor, has on a country's level of competitiveness.
Design/methodology/approach
Using a sample of 102 countries, a multiple regression analysis is performed in which the relationship between a country's competitiveness, as proxied by the global competitiveness index, and diversity, as proxied by ethnic, linguistic, and religious diversity, are tested while controlling for other factors known to affect competitiveness. Further, a cluster analysis is performed in an effort to illuminate global patterns in competitiveness.
Findings
The results indicate that greater levels of ethnic diversity negatively and significantly affect a country's competitiveness, but greater levels of linguistic diversity positively and significantly affect competitiveness while religious diversity has no effect.
Research limitations/implications
The reasons behind for the analysis results still need further research. For example, why do greater levels of linguistic diversity positively affect country competitiveness?
Practical implications
The IMF, World Bank, and other investors of capital need to understand whether diversity will help or hinder aid and loan programs and corporations need to consider diversity when conducting global business and foreign investment.
Originality/value
This study is the first to examine the relationship between diversity and country‐level competitiveness and has value to global business managers and investors.
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Rupali Misra Nigam, Sumita Srivastava and Devinder Kumar Banwet
The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial…
Abstract
Purpose
The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial decision making.
Design/methodology/approach
The literature review assesses 623 qualitative and quantitative studies published in various international refereed journals and identifies possible scope of future work.
Findings
The paper identifies stock market anomalies which contradict rational agents of modern portfolio theory at an aggregate level and behavioral mediators, influencing the financial decision making at an investor level. The paper also attempts to classify different dimensions of risk as professed by the investor.
Originality/value
The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of financial market and investor behavior.
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Adam N. Rabinowitz and William Glen Secor
Nontraditional lenders are important credit providers for farmers. However, previous research has found that farmers who use nontraditional lenders are riskier lending…
Abstract
Purpose
Nontraditional lenders are important credit providers for farmers. However, previous research has found that farmers who use nontraditional lenders are riskier lending opportunities. Using a unique dataset of Chapter 12 bankruptcy cases, the authors analyze the share of payment that is made or allowed by the courts on debt owed to traditional and nontraditional lenders.
Design/methodology/approach
The authors use a Tobit model to calculate parameter estimates and marginal effects of the impact of creditor type (traditional/nontraditional) and debt classification (secured, priority and unsecured) on the proportion of a bankruptcy claim that lenders receive or are expected to receive when a case is discharged.
Findings
The authors find that traditional lenders with secured debt receive a greater repayment than nontraditional lenders. Meanwhile, there are more than twice the number of nontraditional lenders that are owed debt in these bankruptcy claims. While this raises concern for nontraditional lenders, that is mitigated some by the level of debt that is on average about one-sixth the size of the average debt of traditional lenders. Finally, the authors show there are numerous opportunities for future research in this area using case level bankruptcy data.
Originality/value
This paper fills a research gap by focusing on the state of nontraditional lenders in Chapter 12 bankruptcy cases and their treatment in discharged cases.
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