Economic conditions in sub-Saharan Africa have remained generally robust despite a sluggish global economy. The near-term outlook for the region remains broadly positive, and growth is projected at ...5¼ percent a year in 2012-13. Most low-income countries are projected to continue to grow strongly, supported by domestic demand, including from investment. The outlook is less favorable for many of the middle-income countries, especially South Africa, that are more closely linked to European markets and thus experience a more noticeable drag from the external environment. The main risks to the outlook are an intensification of financial stresses in the euro zone and a sharp fiscal adjustment in the US--the so-called fiscal cliff.
AbstractThis paper assesses the phenomenon of “reprimarization” of Brazilian exports in the 2003-2015 period from a firm size perspective. Export “reprimarization” has been an important worldwide ...issue but more accentuated in Brazil. In this regard, the paper reveals important differences between exports of large and small firms regarding the proportion of exporting companies, total amount exported and, especially, export composition according to levels of technological intensity and product categories. It shows that the Brazilian export dynamics were deeply associated with the exporting behavior of large firms in the period. Responsible for the greatest part of total Brazilian exports, they presented exports relatively more concentrated in primary goods, benefiting more from the boom of commodities. Smaller firms tend to face bigger challenges to start exporting or to become successful exporters. Despite this fact, micro and small firms showed an export composition relatively less dependent on commodities and more dependent on higher technology-intensive products, therefore with important policy implications in favor of supporting their international activity.Keywords: exports; Brazil; “reprimarization”; firm size; technological intensity.JEL Classification: F14; L25; O54.
Soziale Sicherheit beruht auf nationaler Gesetzgebung, die Einwohnerwie Erwerbstätige dieses Staates schützt. Internationale Migration fordert die soziale Sicherheit heraus, weil Menschen ...unterschiedlichen Sozialrechten unterworfen sind. Das EU-Sozialrecht regelt deren Folgen, bestimmt das auf grenzüberschreitende Sachverhalte anwendbare Recht und normiert durch die Gebote zur Gleichbehandlung wie Gleichstellung, Eröffnung des Zugangs zu Versicherungsleistungen und Exports von Geldleistungen internationale Rechte sozialer Sicherheit. Sie bauen auf den materiellen Normen der Staaten und verbinden diese miteinander. Das europäische Koordinierungsrecht schafft dadurch eine materielle europäische Sozialgesetzgebung aus den materiellen Sozialversicherungsrechten der Staaten.
Considerando el crecimiento de los negocios internacionales a raíz de los procesos de globalización de las economías, este estudio tiene como objetivo evaluar la relación entre las exportaciones y la ...eficiencia financiera de un conjunto de empresas colombianas durante el periodo comprendido entre 2007 y 2015. Para ello, se emplearon modelos lineales mixtos y modelos estocásticos de fronteras eficientes para identificar la importancia del activo corriente, la rentabilidad neta del activo y la duración de las empresas. De esta manera, los resultados mostraron un aporte positivo del activo corriente frente al desempeño exportador, mientras que la rentabilidad neta del activo y la duración de las empresas obtuvieron un comportamiento negativo respecto a este. El hecho de que la importancia del activo corriente guarde una relación positiva con el desempeño exportador, indica que a medida que aumenta el valor exportado, aumenta el activo corriente, probablemente a través de las cuentas de inventario y cuentas por cobrar. Asimismo, que la rentabilidad sobre los activos tenga una relación negativa muestra que es posible que las empresas estén incurriendo en altos costos de exportación que hacen disminuir sus utilidades y consecuentemente su rentabilidad. Considerando o crescimento dos negócios internacionais em consequência da globalização das economias, este estudo tem como objetivo avaliar a relação entre as exportações e a eficiência financeira de um grupo de empresas colombianas durante o período compreendido entre 2007 e 2015. Para isso, utilizou-se modelos lineais mistos e modelos estocásticos de fronteiras eficientes para identificar a importância do ativo circulante, a rentabilidade líquida do ativo e a duração das empresas. Desta maneira, os resultados mostraram uma contribuição positiva do ativo comum contra o desempenho exportador, enquanto que a rentabilidade líquida do ativo e a duração das empresas obtiveram um comportamento negativo sobre este. O fato de que a importância do ativo comum guarde uma relação positiva com o desempenho exportador, indica que a medida que aumenta o valor exportado, aumenta o ativo comum, provavelmente através das contas de inventario e contas a cobrar. Igualmente, que a rentabilidade sobre os ativos tenha uma relação negativa mostra que é possível que as empresas estejam incorrendo em altos custos de exportação que fazem diminuir suas utilidades e consequentemente sua rentabilidade.
The aim of this study was to contribute to the literature debate on financial behavior and corporate capital structure by focusing on two aspects. First of all, we analyzed how the intensity of ...exports and therefore the percentage weight of foreign sales compared to total sales affect the leverage of companies. Secondly, we have analyzed which are the most significant factors influencing the financial behavior of SMEs. The financial information for the analysis were collected from the Sabi database of Bureau Van Dijk (BVD). To select the companies to be included in the sample, we followed a methodology capable of ensuring that the sample of export oriented and non-export oriented companies was adequately represented. The overall sample size was 2000 companies. The analysis showed that export intensity has a negative and significant impact on leverage, suggesting that as exports increase, leverage decreases. In addition, profitability and business risk are negatively related to leverage, while the tangibility of the assets and growth correlates positively with leverage.
Not happy with large plastic sacks used for rice, sugar and turmeric packaging being thrown away, their small enterprise got into the business of recycling these bags and turning them into handy, ...trendy satchels and accessories. ...we are much more confident in what we are doing. The business has already made several shipments by sea for the European market after working closely with a fair trade distributor.
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