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To improve the government's ability to regulate the economy, perfect the performance of macro-control, and promote stable and healthy economic development, according to the relevant data since the reform and opening up, the deep system of investment impulsive behavior of local government in China is explored at this stage, and the idea of constructing an intergovernmental macro-control coordination mechanism is proposed. The results show that if a regional government can expand in line with the policy cycle, it can not only send a positive signal to the central government to respond to the macro-control, but also gain the upper hand in the local competition. However, if the effective demand in the region is still insufficient, the expansion plan is likely to evolve into excessive investment, and the region will face greater risks of overcapacity and local debt in the long run. Therefore, it is of great significance to study the investment behaviors of local governments in China at the present stage, analyze their characteristics and appearances, and find the causes of the investment impulse of local governments, so as to establish the macro-control coordination mechanism among Chinese governments.

This paper aims to study the impact of municipalities’ own resources on their investments‘ expenditure.

Panel data analysis. A sample of 34 municipalities in Benin. Econometrics tests for the panel data models – estimation of the fixed-effect and random-effect models. Hausman test to identify the best model to explain the impact of the explanatory variables on local investments’ expenditures. Heteroskedasticity, normality and autocorrelation tests.

The results establish a positive and significant impact of own resources, state transfers and demographic variables on local investments’ expenses.

As an implication, the results show the importance of local resources’ mobilization for the municipalities’ investment capacity building. They also show that the central government transfers continue to play a major place in local investments’ finance, even in a decentralization context. Limitation: Available data do not allow to well evaluate the impact of the electoral variable on municipalities’ investments’ expenditure. This situation does not allow to well analyze the public choice considerations in local authorities’ behaviors.

Local mobilization of financial resources must be encouraged to raise municipalities’ investments’ capacities. Strategies must be developed to reinforce local capacities in local resources mobilization.

The results show the importance of local resources in local investments. They show the importance of citizens’ participation in their well-being construction, through local resource mobilization (ex: local fiscality).

Many authors assert in the literature that financial autonomy has a real impact on local development. However, empirically, it was not demonstrated. This paper contributes to correct this lack.

This paper aims to analyze the impact of the degree of local government decision-making competition on the optimal investment amount, investment location and investment failure of innovative investment enterprise under multiple risk appetite type of innovative investment enterprise. This paper also points out three regulation paths that central government could use to avoid the influence of local government decision-making competition on the validity of enterprise innovation investment (EII).

Based on analysis frame of government competition about unitary government states, this paper builds duopoly decision model to analyze influence of local government decision-making competition on EII. Considering information asymmetry and multiple risk appetite type of decision-maker, this paper analyzes influence of local government decision-making competition on location selection, the optimal investment amount, identification of investment failure and exit mechanism of EII according to different relationship between reference points of local government decision-making competition and EII.

The optimal investment amount of EII has positive correlation with risk appetite type of decision-maker, local government decision-making competition. Identification of investment failure and exit are divided into three phases. The boundary conditions are directly related to risk appetite type and amount of local government subsidy. Regional factor endowment and degree of preferential policy are main factors attracting enterprise investment. Local governments should analyze the interests of EII. There are three paths to avoid vicious competition among local governments: unified planning, revising of audit index, increasing penalties for failure of policies.

With rapid development of China's new urbanization process, urban economy has become an important carrier of economic development. Attracting foreign direct investment is an important measure to promote urban economic growth, and EII is the most important one. However new urbanization would lead to local government decision-making competition and then influence EII. Through analyzing influence of local government decision-making competition on EII, theory guidance could be provided to decision makers of innovation investment.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this paper is to shed light on the changing pattern and characteristics of international financial flows in the emerging entrepreneurial ecosystems of Sub-Saharan Africa (SSA), provide a novel taxonomy to classify and analyze them, and discuss how such investments contribute to competence building and sustainable development.

In an exploratory study, the authors analyze the characteristics of international venture capital investors and the start-ups receiving funding in Kenya and map their interaction. The authors proceed by developing a novel taxonomy, classifying investors according to their main rationales (for-profit-for-impact), and start-ups according to the locus of needs and markets addressed by the start-up (local-global) and the locus of the start-ups capacity and knowledge (local-global).

The authors observe a new type of mainly western investors who support innovative ideas in SSA by identifying and investing in domestically developed technical innovations with the potential to address global market needs. The authors find such innovations to be mainly developed at the intersect of global and local knowledge.

The authors shed light on the – up to now – under-researched emerging phenomenon of international high-tech investments in SSA, and develop a novel taxonomy of technology investments in low-income countries, guiding further research on the conditions, impact, practical, and policy implications of this new form of finance flows.

Describe the trends in investments in the water, sewage and waste disposal sector (WSD) in Norwegian local governments and search for determinants that can explain variations in investment levels across local governments. The water, sewage and WSD is the second most important sector in Norwegian local governments in terms of the share of total investments and is subject to much debate due to aging pipelines in many communities. However, as pipelines are hidden in the ground, this is also a sector that can easily be forgotten until an actual failure in the system occurs.

The authors analyze a large data set of all Norwegian local governments in the period 2003–2018 using descriptive statistics and regression techniques.

The investment levels are driven by need, in terms of expectations of a growing population, and fiscal capacity. Hence, the authors conclude that the investment decisions seem to be mostly based on reasonably rational evaluations of the local governments' future needs and capacity to pay for investments.

The paper contributes to the literature on determinants of public capital expenditures. An important part of this debate is whether differences in expenditure levels reflect rational decisions based on changes in need and fiscal capacity or shortsighted policy decisions.

The total capital value of the tenanted non‐residential property of English and Welsh local authorities is immense, more even than the total holdings of the top eight, UK‐based, property companies. However, while property investment companies own tenanted property for financial returns, the primary reason for its ownership by local authorities is far from clear. A survey of councils revealed that while many considered much of their tenanted non‐residential property was held for investment, it rarely formed part of wider financial investment aims. Moreover, investment objectives and management strategies were not clearly stated, prioritized, effected, or measurable. These failings were true of both individual properties and overall portfolios. Where property does not primarily meet a function of a statutory local authority, it must at least be regarded as non‐operational. The opportunity for a council to create a credible investment property portfolio is markedly restricted by the absence of the statutory objective of “property investment”. If, after review, property remains unsuited for assisting any real function of local government, it should be classed as surplus. It is proposed that local authority investment property may therefore justifiably be considered surplus to the functional objectives and requirements of a statutory local authority. If also unsuitable for operational use, such property should be programmed for disposal.

Diffusion studies investigate the propagation of behavior, attitudes, or beliefs across a networked population. Some behavior is binary, e.g., whether or not to install solar panels, while other behavior is continuous, e.g., wastefulness with plastic. Similarly, attitudes and beliefs often allow nuance, but can become practically binary in polarized environments. We argue that this property of behavior and attitudes – whether they are binary or continuous – should critically affect whether a population becomes homogenous in its adoption of that behavior. Models show that only continuous behavior converges across a network. Specifically, binary behavior allows local convergence, as multiple states can be local majorities. Continuous behavior becomes uniform across the network through a logic of communicating vessels. We present a model comparing the diffusion of both types of behavior and report on a laboratory experiment that tests it. In the model, actors have to distribute an investment over two options, while a majority receives information that points to the optimal option and a minority receives misguided information that points toward the other option. We predict that when adjacent persons receive misguided information this can hinder convergence toward optimal investment behavior in small networked groups, especially when subjects cannot split their investment, i.e., binary choice. Results falsify our theoretical predictions: Although investment decisions are significantly negatively affected by local majorities only in the binary condition, this difference with the continuous condition is not itself significant. Binary and continuous behavior therefore achieve comparable incidences of optimal investment in the experiment. The failure of the theoretical predictions appears due to a substantial level of error in decision-making, which prevents local majorities from locking in on a suboptimal behavior.

The purposes of this study are: to investigate how the dimensions of resource competitive strategies impact on small and medium enterprises’ (SMEs) intention to invest in Ghana’s downstream petroleum sector and to develop a model to explain the moderating role of local content policy on the relationship between competitive strategies and investment intention of SMEs. Focusing on the Ghanaian SMEs, quantitative research approach and survey questionnaire have been used. The research hypotheses have been tested using variance-based structural equation modeling technique.

Since the Ghanaian Parliament passed the Local Content and Local Participation Policy (LI.2204) into law in 2013, successive governments have strived to optimize oil and gas benefits and encouraged local participation, yet the actual impacts are mixed, ambiguous and inconsequential. This paper further argues that the extent to which the local content policy role moderates the relationship between firms’ internal resources (proxied as competitive strategies) and investment intention in the energy sector remains largely unexplored.

The results have shown that competitive strategies such as entrepreneurial competency, finance resources and technological usage have positive and significant effects on SME's investment intention. Again, local content policies exert significant moderating effect on SMEs’ investment intention.

The policy implication of these results includes the need to strengthen regulatory capacity of the Petroleum Commission to enforce local content implementation in Ghana to enhance indigenous participation in the sector.

Theoretically, using the resource-based view theory, this study has offered a robust predictability of SMEs investment’s determinants in an emerging economy.

The purpose of the paper is to analyze the relationship between maintenance of existent and investment in new infrastructure in Norwegian local governments.

A reduced form vector autoregressive system is estimated using a 29-year-long panel data set for the Norwegian local governments.

The data reveal that increased investment in new infrastructure sparks little, if any, increase in maintenance. The results also indicate that increased maintenance expenditures spark new investments. Because more investments mean more infrastructure and adequate maintenance should give that investments are not caused by maintenance, the results suggest that the local governments have not optimized their maintenance scheduling in this period.

Even though maintenance and investment are large expenditures that both serve as inputs to the stock of infrastructure, little is known about the relationship between the two. The findings in this paper suggests that Norwegian local governments have not planned their maintenance and investments well in the past, and this can be part of the explanation as to why local public infrastructure in Norway is presently in poor condition.