Search results for " MARKETS"
showing 10 items of 321 documents
Perceived problems with collateral: The value of informal networking
2020
Abstract Many businesses in emerging economies are financially constrained due to their limited use of formal loans. Recent evidence suggests that negative perceptions discourage entrepreneurs from applying for loans. One of the main issues entrepreneurs mention is unattainable collateral requirements. In this paper, we contribute to this line of research by investigating the effect of networking with fellow entrepreneurs on perceived collateral problems. Drawing on quantitative and qualitative data originating from female entrepreneurs in Tanzania, we find that through networking, entrepreneurs are exposed to stories of their peers’ experiences with loans which influence their perceptions …
Emoción y razón: El efecto moderador del género en el comportamiento de compra online
2018
A pesar de la evidencia existente en torno a las diferencias entre mujeres y hombres en los procesos de toma de decisiones, así como en la adopción de la tecnología, la investigación llevada a cabo hasta la fecha no ha sido concluyente. El objetivo de este trabajo es estudiar las intenciones comportamentales de los consumidores según su género en los intercambios comerciales B2C. En este sentido, se propone identificar cómo el valor funcional —representando el raciocinio del consumidor—, el valor simbólico —representando la motivación emocional— y la confianza actúan como antecedentes de la intención de compra en el canal online. A partir de los resultados derivados de una investigación emp…
Labor Market Flexibility and Unemployment: New Empirical Evidence of Static and Dynamic Effects
2012
The aim of this paper is to analyze the relationship between labor market flexibility and unemployment outcomes. Using a panel of 97 countries from 1985 to 2008, the results of the paper suggest that improvements in labor market flexibility have a statistically and significant negative impact on unemployment outcomes (over unemployment, youth unemployment, and long-term unemployment). Among the different labor market flexibility indicators analyzed, hiring and firing regulations and hiring costs are found to have the strongest effect.
Tax Evasion: Part of the Underground Economy in Romania
2020
The economies of developed or emerging countries have a component not subject to the eyes of the authorities, the underground economy, the size of which is likely to produce many imbalances and inequities. The attempt to mitigate state revenues by exploiting legislative imperfections or by using ingenious methods to avoid the payment of taxes is called tax evasion. The weight of the underground economy in Romania’s GDP is significant, with the percentage ranging from 22.4% to 28.4%. The European Union average is 10 p.p. lower than the level at which Romania is located, at the opposite end being Austria, Luxembourg and the Netherlands. The underground economy is predominantly dominated by bl…
Emerging Markets and the Global Financial Crisis
2010
Over the 1990s, crises developed in emerging markets and, while they did send shockwaves across the world, their effects were perceived mostly by other emerging markets.1 The domestic and international policy recommendations that followed focused on strategies to reduce this instability, seen as a threat to the world economy. At the end of the 2000s, the world seems to have gone upside down. The 2008/2009 global financial crisis started earlier in 2007 with a sharp rise in defaults on sub-prime mortgages in one of the most advanced nations, the US, and quickly spread through the interbank market to become an international credit and liquidity squeeze. The credit crisis involved other indust…
Location Theories and Business Location Decision: A Micro-Spatial Investigation of a Nonmetropolitan Area in Canada
2016
International audience; This paper draws on location theories to statistically identify the relationship between the location of individual business establishments and the characterization of their local economic environment. Taking a microspatial perspective, the paper develops indicators from distance-based measures (DBM) to serve as independent variables in a discrete choice model (DCM). Using a 2006 database of individual business establishments in the Lower-St-Lawrence region—a coherent, nonmetropolitan subsystem of cities in the province of Québec, Canada—we provide an empirical analysis of the determinants of individual establishments’ location decisions in relation to their main eco…
Actor engagement as a base for value co-creation in service ecosystem : case study of future electricity demand-side response service for households
2019
This thesis focuses on exploring the value co-creation in the future electricity demand-side response (DSR) service for households. DSR service is implemented as a cloud service, where high-power home appliances are switched off, if there are consumption overload in the power grid and the flexibility is needed. The service is necessary, especially when the use of electric cars increases. As electricity consumption is expected to increase, it creates challenges for electricity network capacity. Increased production in the near future, as well as moving towards more carbon-neutral production mode, will increase the challenges for the adequacy of electricity. With this service, it is possible …
Transformation of the agricultural financial system in the age of globalisation
2017
The paper is an attempt to address the advantages and risks connected with the wave of financial globalisation, with a focus on its impact on financial policy in European agriculture. The aim of the paper is to identify the basic conditions of the functioning and change of the financial system of agriculture under the conditions of the globalisation of financial markets. Financial globalisation, also referred to as financial integration or openness, is understood as an increase in global ties and interdependences caused by capital flows. Potentially, globalisation can bring a lot of benefits, which are manifested in an acceleration of economic growth and decreased fluctuation in consumption…
Patterns of international capital flows and their implications for developing countries
2017
According to standard economic theory, capital should flow from rich to poor countries. However, a reverse pattern has prevailed in the world economy. This is the so-called Lucas paradox. In addition, it has been shown that, counterintuitively, there is a negative correlation between capital inflow and productivity growth across developing countries. This is the so-called allocation puzzle. This review sheds light on the following questions: “What are the patterns of international capital flows in the world economy?”, “What are the most plausible explanations for these patterns?”, and “What are the possible implications of these developments for developing countries?” In addition, the curre…
Holes in the Dike: The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation
2016
We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2010. To obtain an ex ante measure of financial liberalization, we focus on the history of interstate-banking deregulation during the 1980s, i.e. prior to the large net capital inflows into the US from China and other emerging economies. Our results suggest a long shadow of deregulation: in states that opened their banking markets to out-of-state banks earlier, house prices were more sensitive to capital inflows. We provide evidence that global imbalances were a major positive funding sh…