scholarly journals Impacts of the Global Financial Crisis on Small and Medium Enterprises in the People's Republic of China

2009 ◽  
Author(s):  
Xiangfeng Liu
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Small And Medium Enterprises ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Republic Of China ◽  
The Global Financial Crisis ◽  
Medium Enterprises

scholarly journals Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?

2011 ◽  
Vol 10 (1) ◽  
pp. 65-95 ◽  
Author(s):  
Prema-chandra Athukorala
Keyword(s):  
Financial Crisis ◽  
East Asia ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
Production Networks ◽  
Trade Patterns ◽  
Republic Of China ◽  
Final Assembly ◽  
The Global Financial Crisis

This paper examines the implications of global production sharing for economic integration in East Asia with emphasis on the behavior of trade flows in the wake of the 2008 global financial crisis. Although trade in parts and components and final assembly within production networks (“network trade”) has generally grown faster than total world trade in manufacturing, the degree of dependence of East Asia on this new form of international specialization is proportionately larger than elsewhere in the world. Network trade has certainly strengthened economic interdependence among countries in the region with the People's Republic of China playing a pivotal role as the premier center of final assembly. However, contrary to popular belief, this has not lessened the dependence of the export dynamism of these countries on the global economy. This inference is basically consistent with the behavior of trade flows following the onset of the global financial crisis.

People's Republic of China as an Engine of Growth for Developing Asia?

2011 ◽  
Vol 10 (2) ◽  
pp. 120-163 ◽  
Author(s):  
Donghyun Park ◽  
Kwanho Shin
Keyword(s):  
United States ◽  
Global Financial Crisis ◽  
The United States ◽  
People’S Republic Of China ◽  
Industrialized Countries ◽  
People's Republic Of China ◽  
Asian Countries ◽  
Republic Of China ◽  
Positive Effect

Developing Asia has traditionally relied on exports to the United States and other industrialized countries for demand and growth. As a result, the collapse of exports to the United States and other industrialized countries during the 2008–09 global financial crisis has sharply curtailed GDP growth across the region. The emergence of the People's Republic of China (PRC) as a globally influential economic force is fueling hopes that it can supplement the United States as an additional source of demand and growth. The central objective of this paper is to investigate whether exports to the PRC has a significant and positive effect on the GDP of eight developing Asian countries. Although the study's results indicate that exports to the PRC contributed to developing Asian countries' recovery from the global crisis, it is far too early to make well-informed judgments about the PRC's ability to support Asia's growth in the medium and long term.

Entrepreneurship and Enterprise Value Creation in Support of Smart, Sustainable, and Inclusive Growth in the European Union

2017 ◽  
pp. 268-292
Author(s):  
Julia S. Stefanova ◽  
Zachary Wenner
Keyword(s):  
European Union ◽  
Value Creation ◽  
Global Financial Crisis ◽  
Small And Medium Enterprises ◽  
Monitoring And Evaluation ◽  
Inclusive Growth ◽  
The European Union ◽  
Environmentally Sustainable ◽  
The Global Financial Crisis ◽  
Medium Enterprises

In 2010, the European Union codified “Smart, Sustainable, and Inclusive Growth” (SSIG) as part of the Europe 2020 Strategy. Introduced in the context of the global financial crisis, SSIG seeks to restore economic resiliency and foster a more equitable, innovative and environmentally sustainable European economy. The research evaluates the processes of entrepreneurship through which small and medium enterprises (SMEs) contribute to SSIG, including through “innovation-driven entrepreneurship,” “sustainable entrepreneurship” and “social entrepreneurship.” The research additionally assesses the creation of an enabling regulatory and fiscal environment for these modes of value creation, their associated socio-economic outcomes and their monitoring and evaluation practices.

scholarly journals MSMEs IN TIMES OF CRISIS. EVIDENCE FROM INDONESIA

2020 ◽  
Vol 5 (2) ◽  
pp. 91
Author(s):  
Tulus Tambunan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Raw Materials ◽  
Small And Medium Enterprises ◽  
Asian Financial Crisis ◽  
The Past ◽  
Transmission Channels ◽  
Different Types ◽  
Medium Enterprises ◽  
The Impact

This descriptive study is about micro, small and medium enterprises (MSMEs) in Indonesia. It has two objectives: (i) to estimate the impact of the Covid 19 crisis on MSMEs and compares it with other previous problems. Second, to explore crisis mitigation (CM) measures adopted by affected MSMEs. It shows that different types of crises have different transmission channels through which such situations affected MSMEs. CM measures adopted by affected MSMEs also vary by different types of emergencies and hence various business risks. In the 1997/98 crisis, replacing imported raw materials with local raw materials was widely adopted. The 2008/09 problem was finding new customers or markets in unaffected countries or switching to the domestic market. While in the case of the Covid-19 crisis, switching temporarily to manufacturing medical devices such as masks and changing the marketing system from conventional to e-commerce are the most widely adopted strategies. There is already a lot of literature on economic crises such as the 1997/98 Asian financial crisis and the 2008 global economic crisis. The Covid 19 pandemic's reports and articles impact on the economy have emerged in the past two months. To the best of the author's knowledge, this is the first study on how such crises affected and through what transmission channels, MSMEs. Keywords: MSMEs, 1997/98 Asian Financial Crisis, 2008/09 Global Financial Crisis, COVID-19 Crisis, CM MeasuresJEL Classification: D2, F6, G01, I1

scholarly journals Firm’s Finance and Influence of Global Financial Crisis in the Selected European Countries

2018 ◽  
Vol 66 (2) ◽  
pp. 583-593
Author(s):  
Lucie Szczeponková
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Small And Medium Enterprises ◽  
Banking Crisis ◽  
European Countries ◽  
Financial Constraint ◽  
Systemic Crisis ◽  
External Sources ◽  
Medium Enterprises

Small and medium enterprises (SME) are key in creation of new jobs and they significantly involved on GDP, innovations and economic growth. These firms very often rely on financial extraneous sources, but acces to these finance is significant business barrier. It means that SME face to financial constraint. This financial constraint is exacerbated by the financial crisis. The goal of this article is to clarify influence of the systemic banking crisis on use own and external sources of finance within small and medium enterprises in the selected european countries. The influence of global financial crisis on firm’s finance in selected european countries is estimated by the method Difference-in-Difference (DiD) in combination with panel data. The results show, that companies in regions hit by the systemic banking crisis had a lower share of long-term investments funded by share issues in 2009 or 2012, compared with companies in regions not affected by this crisis in 2005, 2009 or 2012, and companies in regions affected by the systemic crisis in 2005 and higher share of long-term investments financed from ekvity capital. During the financial crisis the conditions for providing extraneous sources to private entities are diminishing, and especially small and medium-sized businesses are forced to use other sources of funds.

Global Crisis and Financial Distress Likelihood of SMEs

2018 ◽  
pp. 81-99
Author(s):  
Andrea Quintiliani
Keyword(s):  
Panel Data ◽  
Financial Distress ◽  
Global Financial Crisis ◽  
Small And Medium Enterprises ◽  
European Countries ◽  
Financial Instruments ◽  
Global Crisis ◽  
Ex Post ◽  
The Global Financial Crisis ◽  
Medium Enterprises

In the aftermath of the global financial crisis, this chapter sheds light on the determinants of the financial distress costs between Italian and German small and medium enterprises (SMEs). The authors propose an innovative formulation of the expected costs originated by financial distress expressed as the product of the expected financial distress likelihood times the total amount of the financial distress costs if insolvency does occur. The model is estimated using panel data methodology on samples from two European countries (Italy and Germany). The results indicate that the amount of ex-post costs depends on derivative financial instruments, intangible assets, and relation with local banks (small local banks rather than large banking groups).

Entrepreneurship and Enterprise Value Creation in Support of Smart, Sustainable, and Inclusive Growth in the European Union

2017 ◽  
pp. 825-849
Author(s):  
Julia S. Stefanova ◽  
Zachary Wenner
Keyword(s):  
European Union ◽  
Value Creation ◽  
Global Financial Crisis ◽  
Small And Medium Enterprises ◽  
Monitoring And Evaluation ◽  
Inclusive Growth ◽  
The European Union ◽  
Environmentally Sustainable ◽  
The Global Financial Crisis ◽  
Medium Enterprises

In 2010, the European Union codified “Smart, Sustainable, and Inclusive Growth” (SSIG) as part of the Europe 2020 Strategy. Introduced in the context of the global financial crisis, SSIG seeks to restore economic resiliency and foster a more equitable, innovative and environmentally sustainable European economy. The research evaluates the processes of entrepreneurship through which small and medium enterprises (SMEs) contribute to SSIG, including through “innovation-driven entrepreneurship,” “sustainable entrepreneurship” and “social entrepreneurship.” The research additionally assesses the creation of an enabling regulatory and fiscal environment for these modes of value creation, their associated socio-economic outcomes and their monitoring and evaluation practices.

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