scholarly journals Growth Accelerations and Reversals in Emerging Market and Developing Economies: The Role of External Conditions

2018 ◽  
Author(s):  
Bertrand Gruss ◽  
Malhar Nabar ◽  
Marcos Poplawski-Ribeiro
Keyword(s):  
Developing Economies ◽  
Emerging Market ◽  
Growth Accelerations ◽  
External Conditions

Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies

2014 ◽  
Vol 05 (02) ◽  
pp. 1450001 ◽  
Author(s):  
Era Dabla-Norris ◽  
Giang Ho ◽  
Kalpana Kochhar ◽  
Annette Kyobe ◽  
Robert Tchaidze
Keyword(s):  
Developing Economies ◽  
Emerging Market ◽  
Supply Side ◽  
The Past ◽  
Sectoral Productivity ◽  
Growth Prospects ◽  
Increase Productivity ◽  
Broad Policy ◽  
Future Growth

This paper examines the supply side drivers of growth in emerging market and developing economics (EMDEs) during the past decades and discusses the role of productivity-enhancing reforms in bolstering future growth prospects. It examines aggregate and sectoral productivity trends including around reform episodes to draw broad policy lessons on what policies are needed to increase productivity. Findings suggest appropriate policies need to be tailored to the stage of economic development and to other pertinent features that give rise to the heterogeneous experiences of EMDEs.

scholarly journals The Impact of Management Capabilities on SMEs Financial Performance; the Moderating Role of Financial Access

2019 ◽  
pp. 59-84
Author(s):  
Muhammada Sualeh Khattak ◽  
Kinan Ul Hassan
Keyword(s):  
Financial Performance ◽  
Developing Economies ◽  
Small And Medium Enterprises ◽  
Emerging Market ◽  
Top Management ◽  
Financial Access ◽  
Management Capabilities ◽  
The Impact ◽  
Moderating Role

Small and Medium Enterprises (SMEs) face various challenges and barriers in developed and developing economies. Due to lack of resources, they often fail to survive for the long term. Prior studies have discussed different factors that can enhance the success and performance of SMEs. However, the role of top management capabilities is rarely discussed in emerging economies. This research fills the gap by examining the role of top management capabilities in the financial performance of SMEs with a moderating role of financial access. For this study, data were collected through a structured questionnaire from 150 SMEs operating in Rawalpindi and Islamabad. To test the hypotheses and model, regression analyses were performed in SPSS. The results indicate that top management capabilities and financial access have a significant positive influence on the financial performance of SMEs. However, financial access a moderator does not significantly contribute to SMEs performance in the emerging market. We recommend SMEs to give enough attention to top management capabilities and various sources of finance to gain high profit and stay for a long time in the dynamic markets. Further implications are discussed.

scholarly journals Finance For Growth and Policy Options for Emerging and Developing Economies: The Case of Nigeria

2015 ◽  
Vol 2 (2) ◽  
pp. 20-38
Author(s):  
Wumi Olayiwola ◽  
Henry Okodua ◽  
Evans S Osabuohien
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Developing Economies ◽  
Emerging Market ◽  
Financial System ◽  
Government Policies ◽  
Policy Options ◽  
Financial Policies ◽  
The Impact

Finance is generally regarded as important for economic growth, but the role of finance in economic growth is a controversial issue in the economic literature. The concept of “finance for growth” refocuses the relationship between finance and economic growth by redirecting the role of government policies in finance, and recognizes how finance without frontiers is changing what government policies can do and achieve. The focus of this paper is not to join the debate, nor to analyse the impact of financial development on economic growth, but to discuss the concept of “finance for growth” within the context of emerging and developing economies. The increasing development needs of Emerging Market Economies (EMEs) to raise per capita income, reduce unemployment rate, construct and maintain basic infrastructure, and invest more in human capital, make the role of finance for growth in these economies indispensable. The paper reviews the financial policies in selected EMEs including: China, South Africa and Nigeria and attempts to situate the Nigerian economy among the EMEs within the context of Finance for Growth. The paper notes that financial policies designed in various EMEs had the similar goal of making the financial system to provide key financial functions. However, large differences exist in the efficiency of the financial system in each country. The paper found that what matters to economic growth is access to financial services or financial inclusion and not which sector supplies the funds. The paper suggests appropriate policy options to build confidence in the Nigerian financial system.

scholarly journals Banking Across Borders

2020 ◽  
Vol 20 (249) ◽  
Author(s):  
Eugenio Cerutti ◽  
Catherine Koch ◽  
Swapan-Kumar Pradhan
Keyword(s):  
Developing Economies ◽  
Emerging Market ◽  
Bank Lending ◽  
Portfolio Investment ◽  
Cross Border ◽  
Advanced Economies ◽  
International Banks ◽  
Foreign Affiliates ◽  
Chinese Banks

We explore the global footprint of Chinese banks and compare it with that of other bank nationalities. Chinese banks have become the largest cross-border creditors for almost half of all emerging market and developing economies (EMDEs). Their global reach resembles that of banks from advanced economies (AEs). We take a nationality approach as international banks, and Chinese banks in particular, grant a substantial share of their cross-border loans from affiliates located abroad. But differences remain. Using a gravity model with a novel measure of distance capturing the role of foreign affiliates across all bank nationalities, we find that larger distances deter cross-border bank lending to EMDEs more than to AEs. For Chinese banks, however, distance deters lending to EMDEs less than for peer EMDE banks. We show that for all banks combined, bilateral economic interactions like trade, FDI and portfolio investment, positively correlate with lending. Chinese banks’ lending to EMDEs also strongly correlates with trade, but not with FDI and, unlike other banks, it correlates negatively with portfolio investment.

scholarly journals Limiting role of resource dependence: an examination of director interlocks, board meetings and family ownership

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vidya Sukumara Panicker ◽  
Rajesh Srinivas Upadhyayula
Keyword(s):  
Board Of Directors ◽  
Resource Dependence ◽  
Family Firms ◽  
Emerging Market ◽  
Resource Provisioning ◽  
Independent Directors ◽  
Family Ownership ◽  
Independent Director ◽  
Content Type

PurposeThis paper attempts to examine the activity and involvement of board of directors in internationalization activities of firms in emerging markets, by evaluating the resource provisioning roles of interlocks provided by board of directors, and the frequency of board meetings. We demonstrate that the effectiveness of board involvement is contingent upon the levels of family ownership in firms since family ownership could impact the firm’s ability to utilize the presence of different types of board members.Design/methodology/approachThe authors test our hypotheses on a sample of listed Indian companies, extracted from the Prowess database published by the Centre for Monitoring Indian Economy (CMIE), a database of the financial performance of Indian companies. On a panel of 3,133 firm years of 605 unique Indian firms with foreign investments, over a time period of 2006–2017, the authors apply different estimation techniques.FindingsThe results demonstrate that both board meeting frequency and director interlocks are instrumental in supporting internationalization activities in emerging market firms. However, family ownership moderates the role of insider and independent interlocks on internationalization investments in different ways; the authors find that interlocks provided by independent directors support internationalization activities in family firms, whereas those provided by insider directors do not. Further, the study also finds that board meetings are less effective in internationalization of family firms.Practical implicationsThe authors conclude that family firms aiming at international diversification require to develop more connected and networked independent directors to enable internationalization in firms. While independent director interlocks enhance the international investments, it is also useful to know that board meetings are ineffective in utilizing the resources in family firms. This points to the possibility that family firms should device mechanisms to integrate family meetings with board meetings so that they can utilize the within-family processes to aid in their internationalization decisions.Originality/valueThe study contributes to resource dependence theory by understanding its limiting role in family firms. Theoretically, it helps delineate the limiting resource provision role of the insider directors vis-à-vis independent directors. The authors argue that the resource provision role of insider director interlocks does not effectively help in internationalization in comparison to independent director interlocks in family-dominated firms. Consequently, the study shows the limiting role of resource provision and utilization by family-owned firms in comparison to non-family-owned firms.

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