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Open Access
Article
Publication date: 19 March 2024

Hamisi Kileo Sama

In developing countries like Tanzania, gems and jewellery industry mainly consists of disintegrated and unstable micro and small workshops which operate in a way that misalign…

Abstract

Purpose

In developing countries like Tanzania, gems and jewellery industry mainly consists of disintegrated and unstable micro and small workshops which operate in a way that misalign value addition processes. This study is aimed to bridge gap by focussing on exploitation of industrial clusters in social normalisation and economic resilience to developing countries. The world economic shocks has been not only individually experienced but also globally shared while disrupted lives across all countries and communities and negatively affected global socio-economic growth.

Design/methodology/approach

Furthermore, the explorative design was adopted in this study in order to explore needs of respondents, and with the aim to direct the study towards a descriptive design. The sample frame consists of participants in gems and jewellery activities in Tanzania whereby sample was drawn from Dar es Salaam and Arusha. Semi-structured interview was used to collect quantitative data to establish evidence of Tanzanians’ SSJs linked to global value chains (GVCs).

Findings

Results revealed the benefits of exploitation of artisanal industrial clusters to Tanzanians’ SSJs when linked to global value chains (GVCs). Findings of the study demonstrate the importance of artisanal industrial clusters in facilitating Tanzanians’ SSJs to access GVCs. Further, insufficient education, trust and social protection directly affects inclusive GVCs, inferring that the impact of artisanal industrial clusters on inclusive GVCs in social normalisation and economic resilience.

Research limitations/implications

Study findings reveals shortcomings in existing regulatory framework of linking Tanzanians’ SSJs to artisanal industrial clusters, for improvements to better support the inclusiveness in GVCs. Findings of this research invite interventions on institutional capabilities and entrepreneurial competencies to enhance the capabilities of small-scale jewellers (SSJs). Like other studies, this study involved cross-sectional data, limit targeted study population as representative of SSJs in industrial clusters and GVCs in economic crises at limited time.

Practical implications

The study findings makes important practical contributions to the Tanzania’s SSJs by examining mediating role of artisanal industrial clusters hence informing policymakers of mining sector how to improve accessibility on GVCs by focus on offering great institutional capabilities and entrepreneurial competencies. These findings will help SSJs and policy makers to get better understanding of the relationships in exploitation of artisanal industrial clusters when accessing GVCs. Therefore, they can make better decisions on implementing artisanal industrial clusters as well as management accessing GVCs, so that SSJs will attain the best possible performance.

Social implications

This emphasises the importance of community empowerment in the GVCs process through artisanal industrial clusters. Study findings indicate the influence of industrial relations to social dynamics which are previously inadequately addressed and scantly researched. In actual fact study propose initiatives that ensure local communities benefit socially from the integration of SSJs into GVCs through artisanal industrial clusters. Findings suggest local communities that take into account inter-sectionality of artisanal industrial clusters and inclusive GVCs, by considering how factors like education, trust and social protection status intersect to influence the social inclusiveness of SSJs.

Originality/value

There is limited evidence of linking Tanzanians’ SSJs to GVCs in social normalisation and economic resilience and few researchers have explored this topic. This article leverages exploitation of industrial clusters in normalisation and economic resilience to developing countries such as Tanzania as way of improving shared prosperity, sustainability, inclusive growth, cohesion, value chain upgrading and financial inclusion to SSJs.

Details

Modern Supply Chain Research and Applications, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2631-3871

Keywords

Open Access
Article
Publication date: 15 December 2022

Sigit and Rachel Shannon Twigivanya

This paper examines Malaysia's perception of China following the Asian Financial Crisis. The Asian Financial Crisis, which occurred in 1997, resulted in a contraction in…

Abstract

This paper examines Malaysia's perception of China following the Asian Financial Crisis. The Asian Financial Crisis, which occurred in 1997, resulted in a contraction in Malaysia's GDP, which resulted in increased unemployment in Malaysia. China is a rising economy. Several bilateral visits and trade missions meet both states to achieve an advantageous economic position. Malaysia's decision to rely on China despite historical events that had sparked tensions between the two countries. Despite Malaysia's economic downturn, the country is taking swift action to address the issue. During the crisis, Malaysia viewed Western countries as irresponsible and allowed the situation to deteriorate, which later became the reason for Malaysia's relationship with China. The crisis, however, has influenced Malaysian Chinese businesses to improve their foreign policy and bilateral relations. This paper contends that Malaysia recognizes the importance of its bilateral relationship with China in stabilizing its economic development and social activity following the crisis.

Details

Southeast Asia: A Multidisciplinary Journal, vol. 22 no. 2
Type: Research Article
ISSN: 1819-5091

Keywords

Open Access
Article
Publication date: 21 November 2018

Gao Feng

There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the…

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Abstract

Purpose

There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the Second World War, the capitalist world experienced the fourth long wave of expansion and then entered into a downward phase of the long wave in the 1970s. Regarding to whether a new long wave of expansion took place in the 1980s, left-wing scholars hold different viewpoints. The purpose of this paper is to focus on this issue.

Design/methodology/approach

First, based on the review of the long wave history, this paper discusses three kinds of long wave theories with significant influence and puts forward the theoretical framework of analyzing the long wave of capitalist economy. Next, under the guidance of this theoretical framework and in combination with the actual development and evolution of the capitalist economy, the issue of whether the fifth long wave of the capitalist economy began to emerge in the 1980s is discussed deeply.

Findings

This paper argues that, from the early 1980s to 2007, the US-dominated developed countries experienced a new long wave of expansion driven by the information technology revolution, the adjustment of the neoliberalism system and the economic globalization. However, the financial-economic crisis of 2008–2009 led to a new phase of long wave downswing.

Originality/value

This paper does not agree with the single-factor analysis of the intrinsic formation mechanism of economic long wave and sticks to the multi-factor analysis centering on the fluctuation of accumulation rate. It is pointed out that the evolution of the long wave of capitalist economy depends on the combined influence of technology, institutions and market. The study of the long wave of the economy will help us to correctly understand the historical stage and characteristics of the current world capitalist economy in the long-term fluctuations, so that we can make an appropriate and positive response.

Details

China Political Economy, vol. 1 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 31 March 2022

Gary Waller and Saeid Abbasian

The purpose of this study is to gain a deeper understanding on if and how hotel senior managers (HSMs) in four-star chain hotels in London and Stockholm implemented crisis

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Abstract

Purpose

The purpose of this study is to gain a deeper understanding on if and how hotel senior managers (HSMs) in four-star chain hotels in London and Stockholm implemented crisis management techniques (CMTs) as a response to the economic impacts of the COVID-19 pandemic in 2020.

Design/methodology/approach

Qualitative questionnaires were sent to 30 HSMs in London and Stockholm. From the feedback, this paper assesses, using thematic analysis, differences in CMTs used, past and present, alluding to COVID-19’s economic impacts on hotels.

Findings

Results determined that crises broadly economically impacted destinations similarly through loss of travellers and thus revenue. However, with a more intricate and specific assessment, destinations are impacted differently; thus, CMTs must alter. Findings show many CMTs can be implemented to reduce criseseconomic impacts. The literature review and empirical results allude to many previous and current CMTs, although these must be relevant and specific to the crisis, hotel and/or destination.

Practical implications

This paper has theoretical implications for academics on, among other things, theory building. Practically, it supports hotels in developing and determining CMTs to reduce the economic impacts of crises, to be better prepared when another pandemic emerges and contributes to the tourism and hospitality industry’s knowledge of management strategy within crises.

Originality/value

To the best of the authors’ knowledge, this is the first Swedish study focusing on post-COVID-19 crisis management in hotels in London and Stockholm.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 6
Type: Research Article
ISSN: 0959-6119

Keywords

Open Access
Article
Publication date: 22 November 2022

Xiaoqin Ding and Zhihong Luo

Since the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a…

Abstract

Purpose

Since the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a significant rebound for the first half of 2021, the growth rate began to decline rapidly by the third quarter, and inflation suddenly rises rapidly, which after came the all-time highs of the “misery index” consisted of the inflation rate and unemployment rate. All signs indicate that the US economy will likely enter a “stagflation” crisis.

Design/methodology/approach

This paper analyzes the institutional and social contradictions in the United States during the neoliberal era from the perspectives of domestic social structure of accumulation (SSA) and international SSA based on the SSA theory.

Findings

The current risk of stagflation in the US economy is a concentrated outbreak of the long-term accumulated contradictions in neoliberal SSA under the impact of the epidemic, which is the product of the irreconcilable contradictions inherent in the capitalist mode of production.

Originality/value

Based on this analysis, the paper points out that with the deepening of the crisis, the neoliberal SSA is likely to end and a new SSA will be established gradually.

Details

China Political Economy, vol. 5 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Content available
Book part
Publication date: 27 January 2022

Abstract

Details

Regenerative and Sustainable Futures for Latin America and the Caribbean
Type: Book
ISBN: 978-1-80117-864-8

Open Access
Article
Publication date: 12 May 2020

Hjördís Sigursteinsdóttir, Guðbjörg Linda Rafnsdóttir and Thorgerður Einarsdóttir

The recent global economic crisis affected workplaces in many countries, raising questions about the employees' situation. While most work-related studies in times of crises focus…

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Abstract

Purpose

The recent global economic crisis affected workplaces in many countries, raising questions about the employees' situation. While most work-related studies in times of crises focus on job loss and unemployment, this study analyzes workplace violence in the wake of the 2008 economic crisis among municipal employees within care and education.

Design/methodology/approach

Mixed method approach was used for data collection; longitudinal online surveys and focus group interviews were used.

Findings

The prevalence of workplace violence increased between the three time points of the study, in particular in downsized workplaces. A higher proportion of employees working in care were exposed to threats and physical violence than employees in education as clients of employees in care services were more likely to lash out against employees due to cutbacks in services. Focus groups interviews indicated that the causes of increased workplace violence may be due to a spreading effect both from within and outside the workplace.

Practical implications

As workplace violence can have serious consequences for the health and well-being of employees, it is important for those who have responsibility for the work environment and occupational health in the workplace to design policies that take these findings into account.

Originality/value

Based on the mixed methods, longitudinal survey and focus group interviews, this study contributes to knowledge on workplace violence in times of economic crises. It shows that the prevalence of workplace violence increased not only directly after the economic collapse but also continued up to five years later.

Details

International Journal of Workplace Health Management, vol. 13 no. 4
Type: Research Article
ISSN: 1753-8351

Keywords

Open Access
Article
Publication date: 22 October 2020

Denita Cepiku, Benedetta Marchese and Marco Mastrodascio

This article aims at shedding light on differences in terms of crisis management approaches adopted by the Italian government in order to tackle the two most impactful crises that…

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Abstract

Purpose

This article aims at shedding light on differences in terms of crisis management approaches adopted by the Italian government in order to tackle the two most impactful crises that heavily hit the entire globe in the last 15 years: the financial and economic crisis occurred in 2007/2008 and the health crisis occurred in 2020 due to the COVID-19 pandemic. Furthermore, the article makes conceptual previsions on the potential impact of the health crisis even though, at this time, it is hard to predict the exact extent of its negative consequences.

Design/methodology/approach

The authors implement a comparative approach, in terms of budgetary response, to identify the differences and the consequences of the different responses provided by the Italian government to deal with the two worldwide crises.

Findings

While the economic and financial crisis occurred in the past decade required the Italian government to adopt predominantly austerity measures, the pandemic occurred due to the spreading of COVID-19 pushed the Italian government to adopt investment and fiscal policy based on tax breaks in order to allow the re-launch of the socio-economic fabric of the nation.

Originality/value

The originality of this paper stems from the scant research focused on the budgetary response of governments to tackle global crises. In addition, the paper endeavours to demonstrate the consequences of the myopic vision of the political leaders who, as it occurred in the Italian context, mainly aimed at maximizing the results in the short run at the expense of the potential consequences in the long run.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 1
Type: Research Article
ISSN: 1096-3367

Keywords

Open Access
Article
Publication date: 16 June 2023

Jan Czarzasty and Adam Mrozowicki

In the context of debates on the role of social partners in shaping anti-crisis policies, the article explores the developments of social dialogue in Poland following the outbreak…

Abstract

Purpose

In the context of debates on the role of social partners in shaping anti-crisis policies, the article explores the developments of social dialogue in Poland following the outbreak of the pandemic. The central research question is whether the crisis has helped to revitalise social dialogue or has it further revealed its weaknesses that were apparent before it.

Design/methodology/approach

The paper is based on the combination of literature review and the analysis of primary data derived from 22 expert interviews with the representatives of trade unions, employers and ministries collected in 2020–2021 in four essential industries (education, health care, social care and logistics).

Findings

The analysis suggests that the pandemic led to reinforcement of “illusory corporatism” in Poland, deepened mistrust among social partners and triggered a shift to informal channels of influencing policymaking. The weakness of the social partners and the strong position of the right-wing populist government meant that fears of recession and a health crisis were insufficient to develop “crisis” corporatism. While business interests were represented better than labour in policymaking, limited labour-friendly outcomes have been achieved as a result of workers’ mobilisation and unilateral decisions of the government rather than tripartite social dialogue.

Originality/value

Based on original empirical research, the article contributes to the discussion on the impact of the crisis on social dialogue under patchwork capitalism. It points to the role of strong governments and informality in circumventing tripartite structures and the importance of essential workers’ mobilisation in response to the lack of social dialogue.

Details

Employee Relations: The International Journal, vol. 45 no. 7
Type: Research Article
ISSN: 0142-5455

Keywords

Open Access
Article
Publication date: 7 November 2023

Md. Atiqur Rahman, Tanjila Hossain and Kanon Kumar Sen

This study aims to measure impact of several firm-specific factors on alternative measures of leverage. The authors also aim to study impact of the subprime crisis on such…

Abstract

Purpose

This study aims to measure impact of several firm-specific factors on alternative measures of leverage. The authors also aim to study impact of the subprime crisis on such associations.

Design/methodology/approach

The authors utilized an unbalanced panel data of 973 firm-year observations on 47 UK listed non-financial firms for the years 1990–2019. Book-based and market-based long-term and total leverage measures have been used as explained variables. The explanatory variables are profitability, size, two measures of growth, asset tangibility, non-debt tax shields, firm age and product uniqueness. Fixed effect and random effect models with clustered robust standard errors have been utilized for data analysis. To find the effect of subprime crisis, original dataset was split to create pre-crisis and post-crisis datasets.

Findings

The authors find that profitability significantly reduces leverage while firms having more tangible assets use significantly more debt in capital structure. Firm size and non-debt tax shield have statistically insignificant positive impact on leverage. Having more unique products reduces use of external debt, albeit insignificantly. Growth, when measured as market-to-book ratio, has inconsistent impact, whereas capital expenditure insignificantly reduces leverage. Age is found to be an insignificant predictor of leverage. After the subprime crisis, firms started relying more on internal fund instead of external debt, more particularly short-term debt. Having more collateral is gradually becoming more important for availing external debt.

Research limitations/implications

Data limitations restrict generalization of the findings.

Originality/value

This is one of the pioneering attempts to show how subprime crisis altered the theoretical domain of capital structure research in the UK.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

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