Erik Stam, Chantal Hartog, André van Stel, and Roy Thurik
- Published in print:
- 2011
- Published Online:
- September 2011
- ISBN:
- 9780199580866
- eISBN:
- 9780191728716
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199580866.003.0011
- Subject:
- Business and Management, Innovation
This chapter examines the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and established high-growth firms (firms that have actually realized high growth rates) on ...
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This chapter examines the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and established high-growth firms (firms that have actually realized high growth rates) on macroeconomic growth using a large sample of GEM data in high and low-income countries for the period 2002-2005. The empirical evidence shows that ambitious entrepreneurship accounts for the whole effect of entrepreneurship on macroeconomic growth but that this is not the case when low-income countries are considered. Also, in contrast to ambitious entrepreneurs, the chapter finds the contribution of established high-growth firms to macroeconomic growth to be negligible. No connection between their prevalence rates and the share of ambitious entrepreneurs is found.Less
This chapter examines the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and established high-growth firms (firms that have actually realized high growth rates) on macroeconomic growth using a large sample of GEM data in high and low-income countries for the period 2002-2005. The empirical evidence shows that ambitious entrepreneurship accounts for the whole effect of entrepreneurship on macroeconomic growth but that this is not the case when low-income countries are considered. Also, in contrast to ambitious entrepreneurs, the chapter finds the contribution of established high-growth firms to macroeconomic growth to be negligible. No connection between their prevalence rates and the share of ambitious entrepreneurs is found.
T.A. Bhavani and N.R. Bhanumurthy
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198076650
- eISBN:
- 9780199081868
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198076650.003.0003
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter describes the process of financial development and access, and the various dimensions of each of the two concepts, and how it leads to economic growth and development. It elaborates on ...
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This chapter describes the process of financial development and access, and the various dimensions of each of the two concepts, and how it leads to economic growth and development. It elaborates on the macroeconomic growth approach and underlying rationale for adopting this approach. Keeping the productive investment requirements of growth in mind, financial development is specified along the dimensions of diversification, size, reach, efficiency and soundness. Financial access is specified as the use of formal financial resources in relation to actual productive investment undertaken by the economic agents/sectors/segments. Further, the use of formal financial system is examined in terms of availability and adequacy of formal financial resources. Adequacy is measured as gap between the need and availability, which the study terms as financial resource gap.Less
This chapter describes the process of financial development and access, and the various dimensions of each of the two concepts, and how it leads to economic growth and development. It elaborates on the macroeconomic growth approach and underlying rationale for adopting this approach. Keeping the productive investment requirements of growth in mind, financial development is specified along the dimensions of diversification, size, reach, efficiency and soundness. Financial access is specified as the use of formal financial resources in relation to actual productive investment undertaken by the economic agents/sectors/segments. Further, the use of formal financial system is examined in terms of availability and adequacy of formal financial resources. Adequacy is measured as gap between the need and availability, which the study terms as financial resource gap.
Alan M. Rugman and Jonathan P. Doh
- Published in print:
- 2008
- Published Online:
- October 2013
- ISBN:
- 9780300115611
- eISBN:
- 9780300150506
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300115611.003.0010
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter presents concluding remarks on the impact of MNEs on host country development and discusses how although MNEs unambiguously contribute to the economic development of nations, the ...
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This chapter presents concluding remarks on the impact of MNEs on host country development and discusses how although MNEs unambiguously contribute to the economic development of nations, the distribution of those benefits may vary. MNEs bring foreign direct investment, transfer technology, increase national income, provide more skilled jobs, pay taxes, and otherwise contribute to the overall macroeconomic growth of host economies. It is also determined that MNEs from emerging economies build on the improved macroeconomic infrastructure created by foreign MNEs. The chapter reveals that MNEs from the advanced triad economies of Europe, North America, and the Asia-Pacific region serve to foster the development and growth of poor economies. It is also argued that as a result of this improved macroeconomic infrastructure, the emerging economies generate their own MNEs, thus further enhancing their growth and prosperity.Less
This chapter presents concluding remarks on the impact of MNEs on host country development and discusses how although MNEs unambiguously contribute to the economic development of nations, the distribution of those benefits may vary. MNEs bring foreign direct investment, transfer technology, increase national income, provide more skilled jobs, pay taxes, and otherwise contribute to the overall macroeconomic growth of host economies. It is also determined that MNEs from emerging economies build on the improved macroeconomic infrastructure created by foreign MNEs. The chapter reveals that MNEs from the advanced triad economies of Europe, North America, and the Asia-Pacific region serve to foster the development and growth of poor economies. It is also argued that as a result of this improved macroeconomic infrastructure, the emerging economies generate their own MNEs, thus further enhancing their growth and prosperity.
Scott O’Bryan
- Published in print:
- 2009
- Published Online:
- November 2016
- ISBN:
- 9780824832827
- eISBN:
- 9780824870621
- Item type:
- chapter
- Publisher:
- University of Hawai'i Press
- DOI:
- 10.21313/hawaii/9780824832827.003.0005
- Subject:
- History, Asian History
This chapter examines the ways in which public economists leveraged the postwar ideal of full employment to argue that a macroeconomic focus on rapid domestic growth could finally overcome structural ...
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This chapter examines the ways in which public economists leveraged the postwar ideal of full employment to argue that a macroeconomic focus on rapid domestic growth could finally overcome structural inequality and what they believed to be Japan’s age-old population problem. The perceived dilemma of “surplus population” had long vexed national leaders and ideologues during the modern period. In postwar Japan, public economists sought to address this “population problem” using assumptions and concepts taken from the new economics by calling for a more expansive goal of rapid “economic growth.” This chapter first considers the idea that a national mobilization for macroeconomic growth could serve as an internal postwar solution to the perennial national problems of population, unemployment, and “backwardness.” It then discusses the suggestion that new kinds of private consumption might also have their place in the Japanese economy of growth, based on a vision of progress in which consumers would play a new role in ensuring national economic welfare.Less
This chapter examines the ways in which public economists leveraged the postwar ideal of full employment to argue that a macroeconomic focus on rapid domestic growth could finally overcome structural inequality and what they believed to be Japan’s age-old population problem. The perceived dilemma of “surplus population” had long vexed national leaders and ideologues during the modern period. In postwar Japan, public economists sought to address this “population problem” using assumptions and concepts taken from the new economics by calling for a more expansive goal of rapid “economic growth.” This chapter first considers the idea that a national mobilization for macroeconomic growth could serve as an internal postwar solution to the perennial national problems of population, unemployment, and “backwardness.” It then discusses the suggestion that new kinds of private consumption might also have their place in the Japanese economy of growth, based on a vision of progress in which consumers would play a new role in ensuring national economic welfare.
Peter A. Fisher
- Published in print:
- 2016
- Published Online:
- November 2016
- ISBN:
- 9780198787372
- eISBN:
- 9780191835483
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198787372.003.0002
- Subject:
- Business and Management, Pensions and Pension Management, Finance, Accounting, and Banking
The last major financial crisis produced important changes in the regulatory and supervisory architecture seeking to enhance financial stability and consumer welfare. New structures have been ...
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The last major financial crisis produced important changes in the regulatory and supervisory architecture seeking to enhance financial stability and consumer welfare. New structures have been instituted at the federal, state and provincial, regional, and global levels. Though these seek to advance overall reform objectives, the new rules are creating unintended consequences affecting dimensions of social welfare that lie outside traditional supervisory mandates. Such new policies will surely influence macroeconomic growth; availability, quality, and pricing of financial products; returns to capital; and long-term financial system solvency. This chapter shows how the new supervisory and regulatory structures are likely to have potentially unexpected effects on long-term individual financial security, growth, capital market performance, and efficient risk allocation.Less
The last major financial crisis produced important changes in the regulatory and supervisory architecture seeking to enhance financial stability and consumer welfare. New structures have been instituted at the federal, state and provincial, regional, and global levels. Though these seek to advance overall reform objectives, the new rules are creating unintended consequences affecting dimensions of social welfare that lie outside traditional supervisory mandates. Such new policies will surely influence macroeconomic growth; availability, quality, and pricing of financial products; returns to capital; and long-term financial system solvency. This chapter shows how the new supervisory and regulatory structures are likely to have potentially unexpected effects on long-term individual financial security, growth, capital market performance, and efficient risk allocation.
Olivia S. Mitchell, Raimond Maurer, and J. Michael Orszag (eds)
- Published in print:
- 2016
- Published Online:
- November 2016
- ISBN:
- 9780198787372
- eISBN:
- 9780191835483
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198787372.001.0001
- Subject:
- Business and Management, Pensions and Pension Management, Finance, Accounting, and Banking
In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage ...
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In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.Less
In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.
Alan M. Rugman and Jonathan P. Doh
- Published in print:
- 2008
- Published Online:
- October 2013
- ISBN:
- 9780300115611
- eISBN:
- 9780300150506
- Item type:
- book
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300115611.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book provides a fresh perspective on the impact of multinational enterprises (MNEs) on host country development, and offers a contemporary and balanced assessment of the influence of ...
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This book provides a fresh perspective on the impact of multinational enterprises (MNEs) on host country development, and offers a contemporary and balanced assessment of the influence of multinationals on development. It questions some of the traditional development assumptions and paradigms, arguing that many are outmoded, outdated, and misguided. Drawing from recent research in international business and multinational management, the book brings a more microeconomic, “on the ground” focus to the mechanisms by which MNEs affect growth and development. It is about the relationship between MNEs and the poorer countries in the world, sometimes referred to as less-developed or developing economies, which include the poorer parts of Asia, Africa, Europe, and Latin America. Through the process of economic development, many of these countries have both increased their per capita incomes and improved the internal distribution of these incomes, moving into a smaller group of developing economies that are viewed as “emerging.” A key finding in the book is that on balance, MNEs contribute positively to the economic development of poorer and emerging economies—both directly and indirectly. Direct contributions emanate from the role of the MNE in bringing new knowledge assets to developing countries in the form of technology and managerial skills. A second conclusion of the book is that the FSAs of MNEs can help generate new capabilities and business competences in developing economies.Less
This book provides a fresh perspective on the impact of multinational enterprises (MNEs) on host country development, and offers a contemporary and balanced assessment of the influence of multinationals on development. It questions some of the traditional development assumptions and paradigms, arguing that many are outmoded, outdated, and misguided. Drawing from recent research in international business and multinational management, the book brings a more microeconomic, “on the ground” focus to the mechanisms by which MNEs affect growth and development. It is about the relationship between MNEs and the poorer countries in the world, sometimes referred to as less-developed or developing economies, which include the poorer parts of Asia, Africa, Europe, and Latin America. Through the process of economic development, many of these countries have both increased their per capita incomes and improved the internal distribution of these incomes, moving into a smaller group of developing economies that are viewed as “emerging.” A key finding in the book is that on balance, MNEs contribute positively to the economic development of poorer and emerging economies—both directly and indirectly. Direct contributions emanate from the role of the MNE in bringing new knowledge assets to developing countries in the form of technology and managerial skills. A second conclusion of the book is that the FSAs of MNEs can help generate new capabilities and business competences in developing economies.
