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212. German Companies Engaging in China: Decision-Making Processes at Home and Management Practices in Chinese Subsidiaries
- Author:
- Geny Piotti
- Publication Date:
- 11-2009
- Content Type:
- Working Paper
- Institution:
- Max Planck Institute for the Study of Societies
- Abstract:
- This paper attempts to explain why internationalization processes to China are growing despite the significant difficulties that foreign direct investments into China encounter. The answer to this question can be found in the processes of decision-making on internationalization at the company level and how these affect management practices in Chinese subsidiaries. The argument I put forward in this paper is that for the small and medium-sized enterprises the study focuses on, the decisions concerning investment in China are mainly the product of structural and legitimation pressure. Structural pressure can encourage cognitive mechanisms and behavioral consequences similar to those occurring when individuals (and organizations) cope with threat. Legitimation pressure can foster wishful thinking, which pushes actors to believe that desired options are good despite evidence to the contrary. These pressures have an impact on how well companies are prepared when they internationalize and can particularly affect some crucial management practices, leading to inefficiencies and problems in subsidiaries.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- China, Europe, Asia, and Germany
213. The Global Economic Crisis and Its Implications for Asian Economic Cooperation
- Author:
- Michael G. Plummer
- Publication Date:
- 10-2009
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- The economic crisis of 2008–09 is the second major crisis in just over a decade that Asia has endured. Unlike the Asian crisis of 1997–98, however, the current crisis originated mainly in the West. Asia's excessive reliance on net exports as the principal driver of economic growth since the 1997–98 crisis rendered it especially vulnerable to external shocks, and most Asian countries have paid dearly. The more open the economy, the more vulnerable it is to such shocks. The newly industrialized Asian economies (Singapore, Hong Kong, South Korea, and Taiwan), which are among the most open and dynamic in the world, are expected to contract by about 6 percent in 2009.
- Topic:
- Emerging Markets, International Trade and Finance, Regional Cooperation, Global Recession, and Financial Crisis
- Political Geography:
- Taiwan, Asia, South Korea, Singapore, and Hong Kong
214. A New Geography of Knowledge in the Electronics Industry? Asia\'s Role in Global Innovation Networks
- Author:
- Dieter Ernst
- Publication Date:
- 08-2009
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Political debates about globalization are focused on offshore outsourcing of manufacturing and services. But these debates neglect an important change in the geography of knowledge––the emergence of global innovation networks (GINs) that integrate dispersed engineering, product development, and research activities across geographic borders.
- Topic:
- Emerging Markets, Globalization, Industrial Policy, International Trade and Finance, and Science and Technology
- Political Geography:
- Asia
215. Russia and the Global Meltdown: Domestic and Foreign Policy Responses to the International Financial Crisis
- Author:
- Robert Jellinek
- Publication Date:
- 03-2009
- Content Type:
- Working Paper
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- This paper has its origins in the observation that government responses to the global financial crisis are as much political phenomena as they are economic. The current global financial crisis, among its many consequences, has on a very high level shaken up the world political order. And while the crisis is international in origin—its roots lie in the breadth and the degree of the dispersal of risk associated with mortgagebacked securities, as well as the growing imbalance in international capital flows—its resolution is necessarily being carried out first and foremost on a domestic level. This is not least of all because, in the decade since the Asian financial crises, states have begun to play a dramatically increased role in international finance in relation to both multilateral financial institutions such as the IMF and traditional private actors. In an age where global economic ties are integral to domestic economies and where states themselves are becoming some of the biggest players in international capital markets, a state's global financial standing will more than ever determine its political clout on the world stage. With states acting as market makers, lenders of last resort, and regulators of last resort, the key to understanding the future of individual states in the global economic order can be found only by analyzing states' domestic and foreign policy decisions within the context of the specific constraints facing those states at home and abroad.
- Topic:
- Economics, Emerging Markets, Human Rights, International Trade and Finance, and Financial Crisis
- Political Geography:
- Russia and Asia
216. China and the Global Environment: Learning from the Past, Anticipating the Future
- Author:
- Katherine Morton
- Publication Date:
- 11-2009
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- One of the greatest dilemmas of the early 21st century is how to satisfy the demands of densely populated states in the context of a global environmental crisis. As the world's biggest polluter and prominent emerging world power, China is at the centre of the global debate. Worsening pollution trends, increasing resource scarcity, and widespread ecological degradation have serious implications for China's ongoing modernisation drive. The spillover effects across borders also pose a challenge to its relations with the outside world. Although China's per capita CO2 emissions are low relative to the United States and Australia, they already exceed the world average. In 2007, China overtook the United States to become the world's largest aggregate emitter.
- Topic:
- Environment, Government, International Trade and Finance, and Reform
- Political Geography:
- China, Asia, and Australia
217. Are Chinese Exports Sensitive to Changes in the Exchange Rate?
- Author:
- Shaghil Ahmed
- Publication Date:
- 12-2009
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- This paper builds a model of two types of Chinese exports, those processed and assembled laregely from imported inputs ("processed" exports) and "non- processed" exports. Based on this model, the sensitivity of Chinese exports to exchange rate changes is empirically examined. Unlike previous work, the estimation period includes the net real appreciation of the renminbi that has occurredoverthepastthreeyears. Theresultsshowthatgreaterexchangerate appreciation dampens export growth, both for non-processed and processed ex- ports, with the estimated cumulative price elasticity being substantially greater thanunity. WhenthesourceoftheincreaseintheChineserealexchangerateis appreciations against the currencies of other emerging Asian trading partners, the e§ect on processing exports is positive but insignÖcant, while the e§ect on non-processing exports is signiÖcantly negative. By contrast, when the source of the increase in the Chinese real exchange rate is appreciation against Chinaís advanced-economy trading partners, the e§ects on both types of exports are negative. These results are consistent with the predictions of the theoretical model. Counterfactualsimulationsbasedontheestimatedmodelstronglysug- gest that if the trade-weighted real renminbi had appreciated at an annual rate of 10 percent per quarter since mid-2005, Chinese real exports would have been roughly 30 percent lower today. Thus greater exchange rate áexibility could contribute to lowering Chinaís huge trade surplus through restraining growth of exports.
- Topic:
- Economics, International Trade and Finance, Exchange Rate Policy, and Exports
- Political Geography:
- China and Asia
218. China's Economic Rise -- Fact and Fiction
- Author:
- Albert Keidel
- Publication Date:
- 07-2008
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- China's economy will surpass that of the United States by 2035 and be twice its size by midcentury, a new report by Albert Keidel concludes. China's rapid growth is driven by domestic demand—not exports—and will sustain high single-digit growth rates well into this century. In China's Economic Rise—Fact and Fiction, Keidel examines China's likely economic trajectory and its implications for global commercial, institutional, and military leadership.
- Topic:
- Economics, Globalization, and International Trade and Finance
- Political Geography:
- United States, China, and Asia
219. Export Productivity, Finance, and Economic Growth: Are the Southern Engines of Growth Different?
- Author:
- Alessandra Guariglia and Amelia U. Santos-Paulino
- Publication Date:
- 03-2008
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- Using a panel of 139 countries over the period 1992-2003, we analyse the links between export productivity, economic growth and financial development indicators. We then investigate whether the links observed in China, India and Brazil systematically differ from those observed in other countries in the sample. We find that both GDP per capita and investment generally exert a positive and significant effect on export productivity. Except for Brazil, financial development is not an important determinant of export productivity. Moreover, except for Brazil, export productivity plays a positive effect on growth, and so does financial development for both China and Brazil, but not for India. Finally, in both India and Brazil, FDI is negatively associated with growth.
- Topic:
- International Trade and Finance
- Political Geography:
- China, India, Asia, Brazil, and South America
220. Export Productivity and Specialization in China, Brazil, India and South Africa
- Author:
- Amelia U. Santos-Paulino
- Publication Date:
- 03-2008
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- This paper analyses the patterns of export productivity and trade specialization profiles in the China, Brazil, India and South Africa, and in other regional groupings. In doing so, the investigation calculates a time varying export productivity measure using highly disaggregated product categories. The findings indicate that export productivity is mainly determined by real income and human capital endowments. Importantly, the study reveals significant differences in the export productivity and specialization patterns of countries with comparable per capita income levels. For instance, China's export productivity and implied export sophistication is in line with that of countries with higher per capita incomes, including some OECD industrial economies.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Africa, China, India, Asia, South Africa, Brazil, and South America