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Nguyen Khac Minh, Phung Mai Lan and Pham Van Khanh
The purpose of this paper is to measure TFP growth and job reallocation in the Vietnamese manufacturing industry after the Doimoi period.
Abstract
Purpose
The purpose of this paper is to measure TFP growth and job reallocation in the Vietnamese manufacturing industry after the Doimoi period.
Design/methodology/approach
The study uses firm-level panel data from Vietnam’s annual enterprise survey data for 2000–2016 period in the Vietnamese manufacturing industry using Olley–Pakes static and dynamic productivity decomposition methods.
Findings
The aggregate productivity estimated from the WRDG method increased 2.323 percent, of which over 40 percent is due to the reallocation toward more productive firms. Olley–Pakes dynamic decomposition according to ownership, scale and industry shows that the contribution of private and state-owned firms and the contribution of small and medium firms and large firms to the TFP growth are 133, −33 percent, 58.56 and 41.44 percent, respectively. The within-firm productivity and net entry components are the main reasons for TFP growth rather than reallocation. The results show that the composition of the aggregate TFPs, estimated from WRDG, OP, LP and ACF, is correlated very high (over 80 percent) except for net entry components.
Research limitations/implications
The major limitation of this study is that the authors compute an aggregate productivity index using actual employment-based shares (still misallocation in labor), rather than optimal employment-based shares (no misallocation in labor).
Originality/value
Job reallocation between industries is attracting attention in developing countries, especially transition economies. However, knowledge about job reallocation among industries is limited. This paper assesses the level of job reallocation among private and state-owned firms, small and medium firms and large firms in Vietnam.
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This paper aims to weigh the restrictions to job creation imposed by labor market imperfections with respect to financial market imperfections. The authors want to see which…
Abstract
Purpose
This paper aims to weigh the restrictions to job creation imposed by labor market imperfections with respect to financial market imperfections. The authors want to see which restriction is more severe, and thus assess which is more powerful in creating permanent employment if it were removed.
Design/methodology/approach
A structural estimation is performed. The policy rules of the dynamic programming model are integrated into a simulated maximum likelihood procedure by which the model parameters are recovered. Data come from the CBBE (Balance Sheet data from the Bank of Spain). Identification of key parameters comes mainly from the observation of debt variation and sluggish adjustment to permanent labor.
Findings
Long-run permanent employment increases up to 69% when financial constraints are removed, whereas permanent employment only increases up to 54% when employment protection or firing costs are eliminated. The main finding of this paper is that the long-run expansion of permanent employment is larger when financial imperfections are removed than when firing costs are removed, even when there are important wage increases that moderate these employment expansions.
Social implications
The removal of firing costs has been suggested by several economists as a result of the analysis of labor market imperfections. These policies, however, face the strong opposition of labor unions. This paper shows that the goals of permanent job creation can be accomplished without removing employment protection but by means of enhancing financial access to firms.
Originality/value
The connection between financial constraints and employment has been studied in recent years, motivated by the Great Recession. However, there is no assessment of how financial and labor market imperfections compare with each other to restrict permanent job creation. This comparison is crucial for policy analysis. This study is an attempt to fill out this gap in the economic literature. No previous research has attempted to perform this very important comparison.
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Robert Kwame Dzogbenuku and Solomon Abekah Keelson
This paper aims to examine the interconnection between marketing and entrepreneurship among small and medium scale enterprises in emerging markets.
Abstract
Purpose
This paper aims to examine the interconnection between marketing and entrepreneurship among small and medium scale enterprises in emerging markets.
Design/methodology/approach
Quantitative data were obtained from 113 micro, small and medium scale enterprises (SME) into services, manufacturing and agriculture selected conveniently within the Tema metropolis, a harbour city in Ghana; however, purposive sampling was used to choose owners and managers as respondents pre-occupied with marketing and entrepreneurial roles. These voluntary informants have operated between 4 and 9 years.
Findings
The study reveals a significant relationship between five dimensions of the study including market orientation and entrepreneurial success; customer orientation and entrepreneurial success; competitor orientation and entrepreneurial success; intelligence generation; and entrepreneurial success, including information dissemination and entrepreneurial success.
Research limitations/implications
Blending marketing with entrepreneurial initiatives has the propensity to accelerate success for wealth and job creation for national development especially in emerging markets where poverty and under development abounds. Adoption of basic marketing principles enables local entrepreneurs to become vehicles for social re-engineering and for rapid socio-economic growth, which ultimately affects lives at the local level. The study was limited to opinion of SME managers and owners of a harbour city.
Practical implications
Application of basic marketing principles influences entrepreneurial success in emerging markets (EMs) highlighting opinions of managers and owners of SMEs strategy warranting attention of stakeholders. Thus, the study validates theoretical model of how prudent marketing and entrepreneurial attitude contributes entrepreneurial success. It also provides a new perspective on marketing principles and success in emerging markets.
Social implications
Consciously incorporating basic marketing principles into operations of MSMEs will impact performances; hence, social lives of entrepreneurs will be affected positively.
Originality/value
This study being among the few in sub-Saharan Africa highlights how application of marketing principles to entrepreneurial operations is a vital role in growing local MSMEs unto the world stage. Therefore, blending basic marketing principles with entrepreneurial initiatives will accelerate wealth and job creation and national development to achieve the world's sustainable development goals aimed at reducing poverty.
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The study investigates the influence of ChatGPT on the labor market dynamics, aiming to provide a structured understanding of the changes induced by generative AI technologies.
Abstract
Purpose
The study investigates the influence of ChatGPT on the labor market dynamics, aiming to provide a structured understanding of the changes induced by generative AI technologies.
Design/methodology/approach
An analysis of existing literature serves as the foundation for understanding the impact, while the supply and demand model helps assess the effects of ChatGPT. A text-mining approach is utilized to analyze the International Standard Occupation Classification, identifying occupations most susceptible to disruption by ChatGPT.
Findings
The study reveals that 32.8% of occupations could be fully impacted by ChatGPT, while 36.5% might experience a partial impact and 30.7% are likely to remain unaffected.
Research limitations/implications
While this study offers insights into the potential influence of ChatGPT and other generative AI services on the labor market, it is essential to note that these findings represent potential implications rather than realized labor market effects. Further research is needed to track actual changes in employment patterns and job market dynamics where these AI services are widely adopted.
Originality/value
This paper contributes to the field by systematically categorizing the level of impact on different occupations, providing a nuanced perspective on the short- and long-term implications of ChatGPT and similar generative AI services on the labor market.
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The paper investigates the relationship between credit to the economy, foreign direct investment (FDI) and the unemployment rate in Uzbekistan using macroeconomic time series over…
Abstract
Purpose
The paper investigates the relationship between credit to the economy, foreign direct investment (FDI) and the unemployment rate in Uzbekistan using macroeconomic time series over 2004–2019.
Design/methodology/approach
The study estimates the relationship by applying a vector autoregression model, which is considered a “workhorse” model for policy analysis to capture dynamic relationships in economic time series.
Findings
The results suggest both growth in credit to the economy and FDI Granger cause a change in the unemployment rate. The authors found 1% increase in bank credits to the economy growth decreases the unemployment rate by 0.096 pp. over eight years. On the contrary, 1% positive shock to FDI growth increases the unemployment rate by 0.0036% in the context of Uzbekistan.
Practical implications
Uzbekistan should improve FDI absorptive capacity, particularly human capital and financial market development, through growth-enhancing structural reforms in the financial sector to stimulate economic growth and employment. The attracted FDI funds should focus on productive and economic sectors with high labor-absorptive capacity, such as financial and professional services, healthcare and biomedicine, creative industries and media, software sector.
Originality/value
The study contributes to the empirical literature on employment effects of FDIs and credit to the economy of Uzbekistan.
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Andrew Ebekozien, Clinton Aigbavboa, Matthew Ikuabe and Wellington Didibhuku Thwala
Nigeria has one of the highest graduate unemployment rates in Africa, and there is no comprehensive policy framework to address it. Evidence shows that integrating craftsmanship…
Abstract
Purpose
Nigeria has one of the highest graduate unemployment rates in Africa, and there is no comprehensive policy framework to address it. Evidence shows that integrating craftsmanship into higher education academic programmes can enhance graduate employability. Therefore, there is a need to integrate it into the built environment programmes at institutions in Nigeria. The built environment craftmanship (BEC) in Nigeria's HEIs may have had some challenges, although studies about these challenges are scarce. In this regard, the study investigated BEC's perceived encumbrances and proffered measures to integrate craftsmanship skills in Nigerian HEIs built environment programmes.
Design/methodology/approach
The research adopted a qualitative research design using a virtual interview approach to solicit data from 34 experts across Nigeria. An exploratory approach was used to engage selected HEIs in Nigeria and thematic analysis was adopted to analyse the collected data, and saturation was achieved.
Findings
The study findings indicate that integrating BEC in built environment programmes will enhance graduate employment. However, possible encumbrances like institutional frameworks, funding, infrastructural development and pedagogical and social-cultural issues were found to be affecting BEC's integration into built environment programmes at higher education in Nigeria.
Research limitations/implications
Future studies should explore more detailed large-scale investigations about integrating craftsmanship into higher education institution (HEI) programmes.
Originality/value
Given the dearth of pragmatic studies on the built environment graduates' unemployment in Nigeria, this research contributes to the academic community debates on reducing graduates' unemployment via BEC in HEIs.
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This paper aims to conduct an extensive review and advances a framework for the literature of high-growth firms (HGFs) and scale-ups.
Abstract
Purpose
This paper aims to conduct an extensive review and advances a framework for the literature of high-growth firms (HGFs) and scale-ups.
Design/methodology/approach
This paper takes the form of a literature review.
Findings
The author makes three specific contributions. First, he presents a broad review of high growth in firms, shedding light on the different levels of analysis. Second, he advances a characterization of scale-up companies to enable a better basis for discussion. Finally, he identifies gaps in the existing literature and suggest paths for future research.
Originality/value
The interest in HGFs and those referred to as scale-ups has increased considerably in recent years. Despite this trend, existing studies still have conceptual divergences and a gap separating theoretical inputs from the actual experiences of entrepreneurs.
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