In this article, we review critiques of international business (IB) research with a focus on whether IB scholarship tackles "big questions." We identify three major areas where IB scholars have ...addressed important global phenomena, but find that they have had little influence outside of IB, and only limited effects on business or government policy. We propose a redirection of IB research towards "grand challenges" in global business and the use of interdisciplinary research methods, multilevel approaches, and phenomena-driven perspectives to address those questions. We argue that IB can play a more constructive and vital role by tackling expansive topics at the business-societal interface.
This paper analyzes an emergent stream of research shedding light on the institutional factors shaping entrepreneurial activity and its effect on economic growth. This integrative analysis spanning a ...broad spectrum of diverse literature enables a distinction between two different research lines in the field of entrepreneurship. The findings of this study, based on articles from the journals included in the Web of Science database, facilitate a broader comprehension of two separate lines of research, which allows an analysis of the interaction among institutions, entrepreneurship, and economic growth. The systematic literature analysis over the last 25 years (1992–2016) of research reveals that institutions could be related to economic growth through entrepreneurship, which would open new research questions about what institutional factors are conducive to entrepreneurship, which in turn spurs economic growth. Thus, not only is understanding both complex relationships and their possible sequence useful for planning strategies and public policies, but it is also helpful for advancing and providing new insights in these research fields, which could be complementary and interdisciplinary.
This study empirically investigates the nexus among carbon dioxide (CO2) emissions, economic and population growth, and renewable energy across regions. To do so, an unbalanced panel dataset of 128 ...countries over the period 1990–2014 is utilized. Considering the cross-sectional dependence and slope homogeneity observed in the panel, a series of econometric techniques allowing for cross-sectional dependence and slope homogeneity is employed. The results of cross-sectional dependence and slope homogeneity tests confirm the existence of significant cross-sectional dependence and heterogeneity. The empirical results of the common correlated effects mean group (CCEMG) estimator indicate that, at both the global and regional levels, population size and economic growth positively and significantly influence CO2 emission levels. Furthermore, although increased renewable energy intensity leads to a decline in CO2 emissions for all of the six regions, its coefficient in S. & Cent. America and Europe & Eurasia is considerably higher than the levels seen in other regions, which may be affected by the proportion of renewable energy in the primary energy mix. Finally, the results of panel causality testing provide evidence of varied causality links among the variables across regions.
•Significant cross-sectional dependence and heterogeneity exist.•Population size and economic growth positively and significantly influence carbon dioxide (CO2) emissions.•Renewable energy intensity can lead to less CO2 emissions.•Various causality links exist between the variables across regions.
Using annual data for 75 countries in the period 1960-2000, we present evidence of a positive relationship between investment as a share of gross domestic product (GDP) and the long-run growth rate ...of GDP per worker. This result is robust for our full sample and for the subsample of non-OECD countries, but not for the subsample of OECD countries. Our analysis controls for time-invariant country-specific heterogeneity in growth rates, and for a range of time-varying control variables. We also address endogeneity issues, and allow for heterogeneity across countries in model parameters and for cross-section dependence.
We present a model of nonbalanced growth based on differences in factor proportions and capital deepening. Capital deepening increases the relative output of the more capital‐intensive sector but ...simultaneously induces a reallocation of capital and labor away from that sector. Using a two‐sector general equilibrium model, we show that nonbalanced growth is consistent with an asymptotic equilibrium with a constant interest rate and capital share in national income. For plausible parameter values, the model generates dynamics consistent with U.S. data, in particular, faster growth of employment and slower growth of output in less capital‐intensive sectors, and aggregate behavior consistent with the Kaldor facts.
Are Any Growth Theories Robust Durlauf, Steven N.; Kourtellos, Andros; Tan, Chih Ming
The Economic journal (London),
March 2008, Letnik:
118, Številka:
527
Journal Article
Recenzirano
Odprti dostop
This article investigates the strength of empirical evidence for various growth theories when there is model uncertainty with respect to the correct growth model. Using model averaging methods, we ...find little evidence that so-called fundamental growth theories play an important role in explaining aggregate growth. In contrast, we find strong evidence for macroeconomic policy effects and a role for unexplained regional heterogeneity, as well as some evidence of parameter heterogeneity in the aggregate production function. We conclude that the ability of cross-country growth regressions to adjudicate the relative importance of alternative growth theories is limited.
Secular stagnation on the supply side takes the form of a slow 1.6 percent annual growth rate of US potential real GDP, roughly half the 3.1 percent annual growth rate of actual real GDP realized ...from 1972 to 2004. This slowdown stems from a sharp decline in the growth rate of aggregate hours of work and of output per hour. This paper attributes the productivity growth decline to diminishing returns in the digital revolution that had its peak effect business hardware, software, and best practices in the late 1990s but has resulted in little change in those methods over the past decade.
The KOF Globalisation Index – revisited Gygli, Savina; Haelg, Florian; Potrafke, Niklas ...
Review of International Organizations,
09/2019, Letnik:
14, Številka:
3
Journal Article
Recenzirano
Odprti dostop
We introduce the revised version of the KOF Globalisation Index, a composite index measuring globalization for every country in the world along the economic, social and political dimension. The ...original index was introduced by Dreher (
Applied Economics, 38
(10):1091–1110,
2006
) and updated in Dreher et al. (
2008
). This second revision of the index distinguishes between de facto and de jure measures along the different dimensions of globalization. We also disentangle trade and financial globalization within the economic dimension of globalization and use time-varying weighting of the variables. The new index is based on 43 instead of 23 variables in the previous version. Following Dreher (
Applied Economics, 38
(10):1091–1110,
2006
), we use the new index to examine the effect of globalization on economic growth. The results suggest that de facto and de jure globalization influence economic growth differently. Future research should use the new KOF Globalisation Index to re-examine other important consequences of globalization and why globalization was proceeding rapidly in some countries, such as South Korea, but less so in others. The KOF Globalisation Index can be downloaded from
http://www.kof.ethz.ch/globalisation/
.
This paper provides a survey of the recent progress in the literature of energy consumption–economic growth and electricity consumption–economic growth causality nexus. The survey highlights that ...most empirical studies focus on either testing the role of energy (electricity) in stimulating economic growth or examining the direction of causality between these two variables. Although the positive role of energy on growth has become a stylized fact, there are some methodological reservations about the results from these empirical studies. A general observation from these studies is that the literature produced conflicting results and there is no consensus neither on the existence nor on the direction of causality between energy consumption (electricity consumption) and economic growth. As a policy implication, to avoid from conflicting and unreliable results, the authors may use the autoregressive distributed lags bounds test, two-regime threshold co-integration models, panel data approach and multivariate models including new variables (such as: real gross fixed capital formation, labor force, carbon dioxide emissions, population, exchange rates, interest rates, etc.). Thus, the authors should focus more on the new approaches and perspectives rather than by employing usual methods based on a set of common variables for different countries and different intervals of time.
Latin American structuralism (LAS) is a significant part of the heterodox tradition in the theory of long-term growth, with a focus on the problems of developing economies that started their ...industrialisation process when other regions had already accumulated substantial technological capabilities. The emergence of a centre—periphery system posed specific problems to growth and distribution in laggard economies, which LAS discusses in a systematic way. In this paper we present a model that, first, captures key insights of the LAS school, such as the persistency of technological asymmetries and structural heterogeneity; second, it can be used to analyse the impacts of shocks and policies based on how they affect the supply-side and demand-side parameters of the model; third, it links more closely (post-) Keynesian macroeconomics based on the BOP constraint with the evolutionary microeconomics concerned with the dynamics of learning; last, it can be used as a toolbox and a teachable model in the analysis of interactions between structural change, technological catching up and long-term growth.
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