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This paper aims to empirically and theoretically study the role of domestic savings behind the financial stability and growth effects of different financial liberalizations, when the government is not able to commit to enforce financial contracts. The following liberalizations are considered. Macro financial liberalizations target capital flow and interest rate liberalization, whereas micro financial liberalizations target competition in the financial sector. Simultaneous liberalizations target both micro and macro dimensions.

This study theoretically solves a new simple model of different types of financial liberalizations, micro, macro and simultaneous. The focus is on the crisis and growth effects of countries liberalizing only macro dimensions of financial policy, relative to both micro and macro dimensions together, and on how the level of savings determines these effects. The study empirically uses data on macro and micro financial liberalizations for 91 countries between 1973 and 2005 to provide a taxonomy of liberalization strategies, and empirically tests whether domestic savings are related to the success of different strategies. Capital accumulation, investment profile and the frequency of financial crises are also evaluated.

The findings show that, empirically, simultaneous liberalizations are associated with larger growth only if the savings rate is large. If the savings rate is low, growth is larger when liberalizations target macro dimensions. Capital accumulation increases more with macro liberalizations under low savings and simultaneous liberalizations with high savings. Simultaneous liberalizations with low savings increase risks related to contract viability and expropriation, profits repatriation and payment delays. Simultaneous liberalizations with high savings are associated with smaller probabilities of financial crises. These observations are consistent with the theoretical model, where reduced competition in the financial sector can improve financial stability and reduce financial crises when savings are low.

The contribution of this paper, relative to the vast literature on financial liberalizations, is to document how savings determine the crisis and growth effects of macro and micro liberalizations. It provides and tests empirically a new channel for the role of savings when governments cannot commit to enforce financial contracts. This is informative for policymakers and policy institutions facing different strategies of financial liberalizations.

The aim of this paper is to deal with the linkage between agricultural trade liberalization and food security in Sub‐Saharan Africa.

The analysis uses the GTAP model which is a global dynamic applied general equilibrium model to assess how the multifarious trade and support policies in agriculture affect the poor in the Sub‐Saharan African group based on food security concerns. The policy strategies analyzed are two liberalization scenarios based on the proposals made in the present round of agricultural negotiations in terms of market access and export competition, plus a free agricultural trade benchmark scenario.

The results of alternative trade liberalization strategies on key food security indicators in the SSA region are ambiguous. The impact varies depending on the extent of liberalization and also the comparative advantage of the SSA group at the sectoral level.

Despite several studies on food security, especially after the food crisis in 2008, very little research has focussed on the agricultural trade liberalization impact with a CGE approach.

Examines the sequencing of economic reforms in the post‐communist transition, focusing on Russia. Proposes a moderately expansionary stabilization, succeeded by gradual liberalization and marketization, followed by a more ambitious economic restructuring and privatization.

The purpose of this paper is to investigate how trade liberalization influences rural poverty reduction in China.

The authors make use of China Family Panel Studies survey data, take annual income of farmers of RMB2,300 and RMB3,450 as the poverty lines (poverty line 1 and poverty line 2, respectively). Residents below poverty line 1 and poverty line 2 are 2,580 and 2,661, respectively. Probit model is used to estimate the impact of trade liberalization on the poverty probability. Income-deciding equation is used to estimate the impact of trade liberalization on the income level of poor residents in rural areas. Income-deciding equation is also used to examine the transmission mechanism of trade liberalization affecting rural poverty.

This study finds that trade liberalization can reduce the poverty probability of rural residents and promote the income growth of poor residents in rural areas. Trade liberalization increases the income of poor residents and reduces poverty through transmission mechanisms such as promoting economic growth and financial expenditure.

To the authors’ knowledge, this is the first empirical study to quantitatively model the impact of trade liberalization on rural poverty reduction in China using residents’ survey data.

This paper aims to propose that the development and use of intellectual capital (IC) elements by firms is contingent on the effect of the strategic environment on them.

The paper is a case study of the Indian banking industry, and considers how different banks responded to deregulation and industry reforms in terms of developing and exploiting their IC.

Government‐, private‐ and foreign‐owned banks used and developed different elements of IC (structural, human and relational capital) in response to the change in their strategic environment due to the reforms. These responses appear to be contingent on firm history and the initial endowments of IC.

A reliance on print archival sources and context specificity limits the generalizability of the findings.

The paper complements Kamath's cross‐sectional estimation of VAIC™ in the Indian banking industry, and seeks to introduce consideration of the strategic environment of firms.

The paper is one of the first systematic studies on the post‐liberalization strategies of banks in India, an important emerging economy.

Following the extension of trade and capital market reform in Mexico in the mid‐1980s, manufactured exports accelerated at an exponential rate. In spite of this remarkable performance, the Trade and Current Accounts remained consistently negative, manufacturing as a share of GDP stagnated, and the share of the labour force in manufacturing diminished. Unexpectedly, Mexico's abundant and majority less‐skilled workforce experienced a worsening in the conditions of employment. In the context of trade opening and neo‐liberal reform, inherent market failures involving imperfect information and increasing returns technologies interacted with a ‘maquila’ and a service sector mode—the locus of foreign direct investment—and accounted for the contradictions.

To provide a systemic view of competitive advantage in small‐ and medium‐sized enterprises (SMEs). Gaining a competitive advantage involves a process that evolves over time and which considers the role of three factors: the entrepreneur, the firm's resources and capabilities and the supporting institutions.

The case study method was selected as an exploratory research method. Many of the findings were based on secondary data while results were confirmed or complemented to some extent by primary data. Primary data were collected via an electronic questionnaire and semi‐structured telephone interviews with SMEs' owners in the Mexican footwear industry.

Changes in the business environment may transform the grounds on which SMEs conduct their business. Consequently, adaptation, new relationships and creativity may emerge as a way to overcome scarcity of resources and/or difficulties in gaining access to resources that contribute to their competitive advantage.

The results present only a preliminary picture limited to the period 1985‐1999. Furthermore, most findings from the primary data refer to responses provided by medium‐sized enterprises so the position of small enterprises may need to be revised.

Findings may pose interesting implications for entrepreneurs, policymakers and supporting institutions, for the way in which they work together and the impact this may have on SMEs' competitive advantage.

The purpose of this paper is to investigate the non-linear threshold effects between trade openness and female labours to participate in the labour markets.

The authors consider data for nine Asian countries from 1990 to 2016 period and perform the panel threshold regression method.

Empirical results indicate that the threshold value is occurred. With the increase of trade openess, the female labour force participation rate shows a trend of rising first and then declining. Furthermore, exports also have an asymmetric threshold effect on female labour force participation, which is partly in accordance with the discrimination model (Becker, 1957). On the other hand, imports dependency will hinder female labour force participation regardless of a threshold effect. The authors obtain similar results when the authors consider the female employment rate as substitution.

Specifically, increased trade openness may contribute positively or negatively towards overall female labour force participation rate (FLFPR), attributed to the relative importance of these opposing effects. Thus, when the cost reduction effect, resulting from intensified competitive pressure and comparative advantages would enhance the participation rate, the technology channel operates in the opposite direction. Therefore, from the perspective of female employment, trade openness is not the more the better.

This study innovatively discusses the non-linear correlation between trade openness and FLFPR and distinguishes the different contributions from exports and imports. The advanced threshold regression model assumes the existence of threshold value from trade to female employment. Thereby, targeted policies for the government should be applied to promote active female in the labour market.

This paper aims to explore how firms from a Latin American market internationalise using the resource-based view of the firm as a theoretical foundation. Specifically, it examines the internationalisation process of three Chilean companies that have become relevant international players.

Drawing on interviews with company managers, as well as industry data and corporate reports, this paper provides insights into the successful internationalisation process of emerging market firms.

The findings of this study suggest that specific capabilities and resources, such as belonging to a family conglomerate, domestic and foreign partnerships and networks, innovation and market orientation, and an experienced management team, are required for emerging market firms to internationalise and improve their performance in foreign markets.

This study is one of the few to address the internationalisation process of Chilean companies.

In the present scenario of e‐globalization, small scale industries (SSIs) are considered engine for economic growth all over the world. After markets globalization, SSIs are facing many pressures and constraints to sustain their competitiveness. The purpose of this paper is to examine various issues in context of Indian SSIs such as nature of pressures and constraints, competitive priorities, competencies development, areas of investment, and their relationship with performance.

For collecting data, a questionnaire‐based survey was conducted. In total, 75 valid responses were received. Statistical analysis of data acquired from survey is done by reliability test, t‐test, and correlation analysis.

Cost reduction, quality improvement, and delivery in time have emerged as major challenges for SSIs. Market research, welfare of employees, and research and development are found as major areas for investment. Use of information technology, training of employees, and research and development has significant relationship with performance.

Organizations should develop their strategies after analysing business environment and SSIs should utilize their resources judiciously. However, it is felt that this study can be further explored by considering other aspects of strategy development such as human resource, vendor development, organization culture, etc.

Findings and issues of the paper will be highly useful for SSIs in framing their strategies, and academia for further research in the context of changing market scenario.