Search results for "CAPI"
showing 10 items of 2622 documents
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…
Good and useless FDI: The growth effects of greenfield investment and mergers and acquisitions
2017
We explore the effect of foreign direct investment (FDI) on economic growth, distinguishing between mergers and acquisitions (M&As) and “greenfield” investment. A simple model underlines that, unlike greenfield investment, M&As partly represent a rent accruing to previous owners, and do not necessarily contribute to expanding the host country's capital stock. Greenfield FDI should therefore have a stronger impact on growth than M&A sales. This hypothesis is supported by our empirical results that are based on a panel of up to 127 industrialized, emerging, and developing countries over 1990 to 2010.
Outlining the impact of intellectual capital accumulation and depletion processes on the performance of an insurance firm: a dynamic resource-based p…
2014
This paper aims to develop a conceptual framework on how Intellectual Capital (IC) accumulation and depletion processes are dynamically interrelated with firm performance. Such a framework makes explicit the relationships between policy levers, strategic resources, drivers, end-results and performance indicators through a Dynamic Resource-based perspective. Such an approach matches the Resource based perspective and the System Dynamics (SD) methodology. This paper argues that in order to explain a firm superior performance, it is not sufficient to look at the endowment of strategic resources in a given moment of time; it is instead required to investigate the dynamics of company strategic r…
Growth and convergence profiles in the Spanish provinces (1965-1997)
2005
. Economic performance in Spanish provinces has led to a considerable improvement in standard of living of their populations. Intense capital accumulation since the 1950s played a key roll in this process. Provincial inequalities may increase or decrease as a result of this growth pattern. This study analyzes the evolution of the disparities by means of distribution dynamics techniques. It explicitly considers economic size of each province and whether spatial spillovers exist. Results indicate that the convergence process has been especially intense for labor productivity, total factor productivity, and capital intensity, while for per capita income the patterns of convergence are less ma…
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…
Transferability to LDC of Some European standards concerning the environmental certification of products and services
2002
Goal and Scope. Western developed countries (DC) are currently involved in an important process of releasing new rules and standards devoted to the environmental certifications of urban systems, in order of accomplishing the requirements established by the international protocols (Kyoto, among them), aimed at the reduction of greenhouse gases emitted in the atmosphere and at the limitation of the environmental impact as well. Within this frame, the European Union is giving a rising importance to the so-called 'Integrated Product Policy' (IPP), that is an integrated approach of the environmental policy, aiming to an improvement of the environmental performance of products and services during…
Street Food and Street Vendors, a Culinary Heritage?
2018
This paper examines the theoretical discourse surrounding street food and tells how street food is multidimensional and spatially contingent, but also tackles food safety and aspects related to street vendors’ issues. The street food sector offers to the guests various dishes and drinks prepared at the place of sale or only marketed by itinerant merchants or by vendors with stationary carts, either on the streets or in other public places that may be of interest for tourists. Fast food is generally associated with globalization, so present in high income per capita countries. This paper aims to present a radiography of street food marketing, an image that defines a particular region or coun…
Creative service industries and regional productivity
2015
This research analyses the effect of creative service industries on labour productivity of the regions. Creative service industries offer services that increase a region's capacity to generate and combine new ideas, resulting in an increased production of innovations which raise productivity. The paper proposes an analytical framework and compares findings in 250 regions in 24 countries of the European Union in 2008. We find that creative service industries increases labour productivity of the regions and their effects are as important for regional productivity as scientific research or highly qualified human capital.
EMU and the Euro-Mediterranean Dialogue: Trade Interdependence between Mediterranean and Euro-area Countries
2009
Economic interdependence and trade encourage international dialogue and represent a base for reducing international conflicts. Hence, international co-operation for the reduction of barriers to trade and capital flows can be important not only in inducing economic progress, but also in promoting peace (Polachek and Siegle 2006). In this respect, the introduction of the euro represents an epochal event for both the participants in the single European currency and for their external partners, and in particular those in neighbouring regions. However, whilst a large body of literature has focused on analysing the first, in particular, with respect to the impact of the euro on intra-regional tra…
Environmental learning in regions: a social capital based approach. The case of Latvia
2016
AbstractHow do people learn about the environment and behave accordingly? What is the cognitive process at the base of this learning mechanism? The present paper is a pilot work investigating the dynamics of individual environmental knowledge on the basis of social capital theory. Using Tsai and Ghoshal’s findings, a well known framework widely accepted in organizational studies which supports the existence of a relationship between structural, relational and cognitive dimensions of social capital, and between social capital and knowledge exchange, these dynamics are then tested in the context of environmental behaviour studies. The quantitative analysis is carried out by means of a structu…