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The aim of this study is to examine the nature and determinants of stock market integration between India and other Asia–Pacific countries (Malaysia, Hong Kong, Singapore, South Korea, Japan, China, Indonesia, the Philippines, Thailand and Taiwan) over the period 1991–2021.

Unit root tests, the dynamic conditional correlation-Glosten Jagannathan and Runkle-generalized autoregressive conditional heteroscedasticity (DCC-GJR-GARCH), pooled ordinary least squares (OLS) regression and random effects models are employed for the analysis.

The empirical results show that the DCC between each pair of sample countries is less than 0.5, indicating weak ties between the pairs of sample countries. Also, the DCC between India and other Asia–Pacific stock markets is positive and low, implying low level of integration. The correlation between India and China stock markets is found to be the highest, implying significant level of integration. The main reason for it would be strong economic linkages and bilateral trade relationship between India and China. Moreover, gross domestic product (GDP), interest rate (IR), consumer price index (CPI)-inflation and money supply (MS) differentials are the major driver of stock market integration between India and other Asia–Pacific countries.

The findings of the study have important implications for investors, portfolio managers and policymakers. It is found that the DCC between India and other Asia–Pacific countries (considered in the study) except China is low, which indicates weak ties between the pairs of sample countries. This implies that the Indian stock market provides good investment opportunities for foreign investors. Also, investors and portfolio managers can attain more diversified benefits and can minimize country risk by investing across Asia–Pacific countries. Further, knowledge about the factors that integrate the Indian stock market with the other Asia–Pacific stock markets will help policymakers frame suitable economic and financial stabilization policies.

This study contributes to the extant literature: first, by examining the linkages of Indian stock market with other Asia–Pacific countries; second, although previous studies confirmed the existence of linkages among the various stock markets, few researchers pay attention to the factors driving the process of stock market integration. This study provides additional evidence by examining the significant macroeconomic factors driving the process of such integration in the Asia–Pacific region considered under the study.

The authors investigate the impact of the US stock market on the economies of the BRICS and major industrialized economies (G7).

The authors construct the world economy and the vulnerability between economies using three economic integration variables: bilateral trade, bilateral direct investment and bilateral equity positions. Global vector autoregressive (GVAR) empirical studies usually adopt trade integration to estimate models. The authors complement these studies by using bilateral financial flows.

The authors summarize the results in four points: (1) financial integration variables increase the effect of the US stock market on the BRICS and G7, (2) the US shock produces similar responses in these groups regarding industrial production, stock markets and confidence but different responses regarding domestic currencies: in the BRICS, the authors detect appreciation of the currencies, while in the G7, the authors find depreciation, (3) G7 stock markets and policy rates are more sensitive to the US shock than the BRICS and (4) the estimates point out to heterogeneities such as the importance of industrial production to the transmission shock in Japan and China, the exchange rate to India, Japan and the UK, the interest rates to the Eurozone and the UK and confidence to Brazil, South Africa and Canada.

The results reinforce the importance of taking into account different levels of economic development.

The authors construct the world economy and the vulnerability between economies using three economic integration variables: bilateral trade, bilateral direct investment and bilateral equity positions. GVAR empirical studies usually adopt trade integration to estimate models. The authors complement these studies by using bilateral financial flows.

Guided by the salutogenic model of health and well-being, this study aims to use empirical measures of sense of coherence (SOC) and generalized resistance resources (GRRs) to gain a better understanding of the facilitators of successful transition and integration of refugees to Canada and relate these findings to current program development and delivery for the settlement of refugees.

Survey research and structural equation modeling.

The authors found that newcomers with a stronger SOC were more likely to report successful integration outcomes. GRRs were found to have both direct and indirect effects on the positive settlement of refugees, with the SOC acting as a strong mediator of indirect effects.

Owing in part, to the disruption caused by the global pandemic, the authors’ data collection period was protracted and the final sample size of 263 is smaller than the authors would have preferred. Another limitation of this study has to do with its cross-sectional design, which limits the articulation of cause-and-effect relationships among the variables.

In terms of program development and delivery for the settlement of refugees, the authors’ results provide further evidence that refugee participation in socially valued decision-making represents a key determinant of healthy resettlement.

Much research on refugee settlement originates within “a pathogenic paradigm” that focuses on the stressors and obstacles encountered by people who have been displaced. Taking its cue from Israeli health sociologist, Aaron Antonovsky’s salutogenic model of health and well-being, this study uses empirical measures of Antonovsky’s interrelated concepts of SOC and GRRs to gain a better understanding of the facilitators of successful transition and integration of refugees to a prairie province in Canada and relate these findings to current program development and delivery for the settlement of refugees.

Although the significance of technological progress in economic development is well-established in theory and policy, it has remained challenging to agree upon shared priorities for strategies and policies. This paper aims to develop a model of how policymakers can develop effective and easy to communicate strategies for science, technology and economic development.

By integrating insights from economic complexity, competitiveness and foresight literature, a replicable research framework for analysing the opportunities and challenges of technological revolutions for small catching-up countries is developed. The authors highlight key lessons from piloting this framework for informing the strategy and policies for bioeconomy in Estonia towards 2030–2050.

The integration of economic complexity research with traditional foresight methods establishes a solid analytical basis for a data-driven analysis of the opportunities for industrial upgrading. The increase in the importance of regional alliances in the global economy calls for further advancement of the analytical toolbox. Integration of complexity, global value chains and export potential assessment approaches offers valuable direction for further research, as it enables discussion of the opportunities of moving towards more knowledge-intensive economic activities along with the opportunities for winning international market share.

The research merges insights from the economic complexity, competitiveness and foresight literature in a novel way and illustrates the applicability and priority-setting in a real-life setting.

South Asia is a region urgently seeking development, although it has failed in regional integration. It is the second least integrated region regarding the number of Free Trade Agreements (FTAs) and can thus be recognised as a missing bloc in the global multilateral system. This study aims to focus on South Asian FTAs and explores the problems of the inter-relations and compatibility between the systemic and regional trade systems.

The study proposes a framework to benchmark the compatibility of South Asian FTAs with WTO rules. Primary data from 2000 to 2020, including descriptive analyses of reports, legal text of the FTAs, official documents and factual presentations, have been collected and analysed through thematic analysis using the proposed framework.

The study finds that, although South Asian FTAs meet most of the WTO requirements, they are not progressing toward facilitating and promoting trade. Data from 2000 to 2020 show us that South Asian FTAs have not significantly impacted trade between themselves. The study argues that, although South Asian FTAs fulfil some benchmarks, they show only a lukewarm interest in contributing to the international trading system as building blocs. It is therefore recommended that the case of South Asian trade liberalisation must be understood contextually and be given careful and exclusive attention by the WTO.

As such, this study is the first to claim that South Asian FTAs are not fully compatible with the WTO rules. They remain a missing regional bloc in the multilateral system, rather than a building bloc or a stumbling bloc, delaying the region’s opportunity to develop as a region and within the larger system.

The purpose of this paper is to outline how the EU figures out the importance of strengthening its relations with Egypt as one of the most strategic countries in the region to keep the union secured and stable. The paper also assesses to what extent the EU succeeds to promote democracy in Egypt.

The EU pursues its policy through a series of both bilateral and multilateral agreements with Egypt aiming at positioning their relations in a strategic context. The research adopted different approaches as descriptive and analytical ones.

Following the Arab uprisings, the EU was caught by surprise and announced a paradigm shift in its relations and introduced a set of policies to foster democracy promotion that witnessed some successes but with extremely modest results in some areas compared to the costs of the process. The EU succeeded in important reforms in trade liberalization while it did not bring clear changes in the political arena in Egypt.

The findings of this paper convey that the Arab uprisings were a wake-up call for the EU. It was the right time for the EU to conduct such a strategic and sincere reflection based on the role it wants to play in the changing region. In addition, findings prove that the EU’s response to revolutionary events has been weak and hesitant, and the EU has not an effective role in promoting democracy in Egypt.

Weak regional commercial and productive integration and monetary dependence on the economic poles are evidence of the consolidation of Latin America's peripheral position in the world economy. This research analyzes different monetary initiatives launched individually or collectively by countries in the region to alleviate this position, such as the petro, the SUCRE, or El Salvador's bet on the legal acceptance of bitcoin as a payment instrument. After identifying some of their limitations, we propose some basis for monetary coordination with which to advance in the dynamization of productivity and trade complementarity of the countries of the region.

The writing of this case study was triggered by the numerous media reports in 2020 that talked about the EU nations losing its solidarity. EU being a very appropriate example of economic, monetary and customs union while teaching theories of economic integration and international relations, the post-pandemic approach of EU leadership to rebuild the crisis-ridden member nations seemed an excellent material for developing a teaching case study.

The case study was written based on secondary data and published information available. Enough desk research was undertaken to build the characterisation of the protagonists and due diligence done to chronologically report all facts of the case as the story developed. It was decided to build the epilogue into the case study so that the case analysis had enough depth.

The case is set in 2020 when the global economy was reeling under the massive impact of a lockdown and the aftermath. The case study examines the model of economic union in international business and the various challenges that governance of an association of nations such as the 27 member EU can throw up. It examines the conflict of interest that can arise among member nations during critical circumstances such as the pandemic and its massive tolls.

EU had established itself as a critical international trade player and had already proven their might as a united entity to the world trade partners, given the fact that they were not only a customs union but also a monetary union. In this scenario when the pandemic threw them into the whirlwind of lockdown-induced crisis, the united front of the mighty EU all but crumbled. As the worst-hit economies of Italy and Spain struggled to pull themselves back to normalcy, EU experienced one of its worst solidarity crises.

EU’s president Angela Merkel and ally French President Emmanuel Macron with support from the EU Council’s President Charles Michel stepped forward to resurrect the badly hit economies. They viewed this as the best opportunity to bring about a united front by coming together at Brussels for a summit when lockdown eased up in July 2020. It was to be a show of unity to jointly bail out the severely affected member nations by grants rather than loans. The summit, however, snowballed into bitter arguments and open bickering between the wealthy and not-so-wealthy members, and they could not agree upon the issue of debt vs aid. The fact that the EU was an agglomeration of 27 nations, which were far from homogenous in socioeconomic status, not to speak of divided political ideologies, only added dimensions to the dispute. Negotiations repeatedly hit roadblocks. Can the EU leaders lead their bitterly divided house to a consensus?

The case is suitable for graduate and post-graduate levels. Management courses where international business studies, international trade blocs and global leadership are part of curriculum can use the case to teach concepts of “Regional economic integration”, “Economic and Political union” and theories of “International relations” and “Negotiation”. It can also be ideally used in an executive management programme on “Global Leadership” to highlight the complexities of “governance of international associations” and “consensus building amidst diversity”.

This paper aims to explore the impact of domestic market fragmentation on the innovation performance of enterprises and its mechanism from the perspective of market segmentation, a government behavior with Chinese characteristics.

In order to verify the theoretical hypothesis proposed in the previous article, that is, whether domestic market fragmentation can effectively improve the innovation performance of enterprises, this paper bases on the data of listed companies from 2010 to 2016, empirically testing the theoretical hypothesis by constructing a measurement model.

Domestic market fragmentation has a significant inhibitory effect on enterprise innovation performance. Domestic market fragmentation has heterogeneous effects on innovation performance of enterprises and regions. It is undeniable that domestic market fragmentation does have a certain support effect on state-owned enterprises but the support effect is achieved by distorting regional resource allocation and creating an unfair market environment.

Firstly, this paper explores the impact mechanism of domestic market fragmentation on corporate innovation performance from the perspective of market segmentation, a government behavior with Chinese characteristics, so as to expand and enrich the relevant research on enterprise innovation. Secondly, from the perspective of corporate innovation performance, this paper provides new evidence for the “curse effect” of domestic market fragmentation. Thirdly, this paper tries to shake the domestic market fragmentation support theory from the perspective of distortion effect brought by the “hand of support” of domestic market fragmentation.

This study aims to examine the participants’ [junior high school students and Master of business administration (MBA) consultants] perceptions and utilizations of the multidimensional place-based resources within the context of Education for Sustainable Development (ESD), specifically focusing on its alignment with the sustainable development goals (SDGs) for quality education. While place-based resources have demonstrated the potential for fostering innovative thinking and collaborative efforts, a gap exists in understanding how these resources can be effectively integrated to bolster learning and sustainable outcomes.

The authors adopted a single-case research methodology and conducted an in-depth exploration of the integration of place-based resources within the context of ESD using the 2021 Forest Community Outreach (FCO) Project in Ena City, Japan. Questionnaires, daily journals and consultation reports were used for data collection. This study used the coding and qualitative content analysis process to understand the significance of the five dimensions of place-based resources in fostering effective ESD practices.

The findings show the gap between interest in ESD and utilization of place-based resources as reflected in the perceptions and interests of junior high school participants. MBA consultants acknowledged the relevance of leveraging the five dimensions of place-based resources in the context of ESD. This research enriches the understanding of recognizing and harnessing different resources within the settings, emphasizing the significance of a multidimensional place-based resources approach to effectively incorporate these resources into ESD, thereby fostering learning and practical sustainability outcomes.

This study conducts a novel analysis of diverse dimensions within the realm of place-based resources and their profound influence on the learning experiences and creativity of participants engaged in ESD. The study lays the groundwork for the validation of place-based resource dimensions through collaborative efforts involving stakeholders within the region.