Журнал глобальной экономики

Most applied general equilibrium (AGE) and partial equilibrium (PE) models use the Armington approach to represent the trade specification of their models. In the context of analyzing the impact of economic changes in trade policies, it is important what type of specification is used in the trade structure of such models. It may be plausible to use functional forms such as the Constant Elasticity of Substitution (CES) based Armington specification for relatively homogeneous aggregated goods like cereals (or other agricultural goods), but its restrictiveness makes it less satisfactory when examining the trade relationships for more complex and heterogenous aggregated goods such as electronics (or other manufacturing goods). Almost Ideal Demand System (AIDS) is a flexible functional form, and incorporating such a demand system into a trade specification makes more sense for electronic goods where complementary trading relationships could be more prevalent. This paper compares the Armington specification with the AIDS specification for electronic goods using comparatives tatic analysis. The effect of change in price and income over global patterns of trade are examined. The results show that using different specifications of the trade structure in economic models can significantly alter the simulated patterns of trade, both in terms of magnitude and direction of changes in trade flows.

Customer choice and awareness have been increasing tremendously during this decade because of more transparency in the economy, the advent of information technology, media revolution and besides hectic competition for resources among banks. Service quality is a judgmental issue relating to the different between an individual’s expectation of a service and the actual service performed. Many definitions are presented to the concept of service quality. In the present paper the customers’ service quality gap in public sector banks is measured for each of the service items under the ten broad dimensions. A close perusal of the data provided in the table indicates that among the six broad categories, the average score for the service quality on the tangibility dimension was found to be the highest for the perceived level for “availability of bank stationery” and desired level for “adequacy of space and layout of counters.

Private banking in India was practiced since the beginning of banking system in India. The first private bank be set up in India was the IndusInd Bank. It was one of the fastest growing banks, among private sector banks in India. .” A customer is one who receives a product or service from an organization. So defined, a customer would obviously include an account holder or his representative, or a person carrying on casual business transactions with a bank, or a person who on his own initiative may come within the ambit banking fold. The study entitled customer perception to the services of commercial banks in Madurai city is carried out in the Temple city which is the second largest one in Tamil Nadu. Twenty four public sector banks and fifteen private sector banks function in Madurai district.

Customers were simple persons and were happy with whatever services the banks had offered them. Over a period of time, with the competition and technological improvements, customers have become fully aware of their rights. Today banks are realizing that the quality of service constitutes the core of their business and it is a strategy with which they could highlight their superiority with their competitors. Gone are the days when customers had no option but to simply continue with the old strategy of one cap for all. Now-a-days, banks have come to understand that business can come from satisfied customers. A satisfied customer brings in more customers and he is the best advertisement for the bank. Though in the eighties transaction banking was the order of the day, relationship banking has regained its importance once again, with many banks throughout the world project forward this concept. Service quality is a judgmental issue relating to the different between an individual’s expectation of a service and the actual service performed. The private sector banks should raise the quality of the financial services like the reasonability of the rate of interest paid for deposits, justification of the rate of interest charged on loans, fair commission on draft, affordability of the safety locker rent, less commission for funds transfer and reasonability of interest on housing loans.

Nonlinear Grey Bernoulli Model is proposed to enhance the prediction accuracy. In this study, artificial neural network (ANN) is used to modify the residual error of NGBM. Then, ANN error plus original forecasted value is a new estimated value. The newly proposed method termed NGBM (1,1) with ANN error correction is used to forecast Taiwan’s gross domestic product (GDP). The results show the proposed method is more accurate than NGBM and is proven to be effective in forecasting.

The present study is focused towards understanding the financial behavior of unorganized workers about the various old age pension schemes provided by the Government of India, and their willingness to participate for voluntary contribution for old age. This paper has comprehensively analysed the issues related to New Pension Schemes (NPS) and highlights the appropriate gaps in the system through an empirical study in Burdwan District, West Bengal, India.
The present study assesses the overall awareness level of NPS products and the factors that influence the individual behavior regarding everyday financial decisions. The study further examines the relative significance of these factors on voluntary participation in the NPS and finds that future financial concern and financial advice are very important factors that influence the decision making of the individuals. But the financial literacy is pivotal for awareness of the availability of such schemes for old age security.

An expanding globalization causes global failures, similar to economy failures encountered in the national economic system. Global failures take other forms, and are likely to be more severe in the future because of the entry in the world scene of leading countries that have distinctly different economic systems (for instance, China, India) from leading incumbents (US, EU), and because the new competition (country cum system) is likely to be perceived by newcomers and incumbents as a zero sum game. It is crucial in such circumstances to have a design of world governance that can respond adequately to global failures. The G-20 is one such design, but this is handicapped by its narrow scope (i.e., GDP), and undemocratic composition (selection of individual countries and not regional representation, next to being inconsistent and outdated). The paper formulates and applies an index of influence potential that combines population and GDP, and which is measurable at the region and country levels. The paper projects these applications for the near future, comes up with more representative participations by regions/countries in world governance, and explores effects of the changing distribution of influence potential on global development and economic systems.

Newly proposed National Well-being Indicators from Taiwan government is investigated in research. These indicators are categorized into two categories and 11 topics based on the OECD’s Your Better Life Index. Three indicators which are consumption expenditure per capita, unemployment rate of age 15 to 24 and real earning are analyzed by grey forecasting model because of complete information provided. The result showed that consumption expenditure will increase, unemployment rate will keep at above 13% and real earning will decrease constantly in the future four year. The government should propose policies to prevent economic downturn in advance.

This paper investigates that from last several years, it became a question mark for the literature of academic and trade circles, why manufacturers are less powerful as compared to retailers. Our study provides a fresh fuel in the existing fire over the United States largest retailing corporation. However, our research provides a new dimension through innovative strategies and theories adopted by Wal-Mart and how retailers become more powerful. For this purpose, we take Wal-Mart as a case study in order to investigate several quarries. What are the reasons which make Wal-Mart so successful, unique, mergence and acquisition innovative capabilities? It also highlights the literary work done by historians on Wal-Mart and to examine the progress and different strategies of Wal-Mart in term of its success in retailing business. It is observed that most of expansion of Wal-Mart Inc. was through joint ventures; however in some countries such as Germany and Canada, it was by acquisition. Moreover, Globalization had a positive effect on Wal- Mart’s success and supply chain management system which plays a major role in its business growth and making it a market leader.

This paper examines whether or not XBRL (eXtensible Business Reporting Language) adoption reduces information asymmetry in Taiwan’s Public companies. Recently, XBRL and International Financial Reporting Standards (IFRS) have gradually received substantial attention in the accounting field and the international capital market. Users of financial information can analyze and convert financial reports into the same format by using XBRL. This study evaluated whether XBRL adoption reduced information asymmetry. Prior scholars have used bid-ask spread as a proxy variable of information asymmetry to explore whether XBRL adoption reduced information asymmetry. This study focused on information asymmetry in Taiwan’s capital market. In addition to using bid-ask spread as a proxy variable of information asymmetry, we used stock turnover ratio and earnings volatility as proxy variables for measuring the level of information asymmetry.
The results of this study demonstrated that XBRL adoption significantly affects the information-asymmetry proxy variables and that effectively reduce information asymmetry in Taiwan’s capital market. Based on these findings, the government should promote the XBRL usages in financial reporting and require XBRL adoption by all public companies to enable financial information users XBRL.

Since the onset of the recent global financial crisis and the resulting trade downturn, there have been efforts to understand the channels through which financial crisis has been affecting global trade and to explain the overall welfare impact of the crisis. Most previous studies focus on finding the key factors that link the financial crisis to the trade crisis. Specifically, the role of limited access to trade credit, murky protectionism, behind-the-border measures, and fluctuations in demand components are implicated as the leading contributors to the downturn. The purpose of this study is to investigate the significance of two of these factors, namely, murky protectionism and demand components, in the context of trade among OECD and African countries during the crisis years. Author has drawn commodity-level data on bilateral trade flow and trade measures from the OECD and GTA databases, respectively, to empirically investigate the impacts of OECD countries’ demand components and murky protectionisms on imports from African countries. The results confirm that OECD countries’ demand components played a relatively lesser role in the downturn of imports from African countries, whereas trade measures, especially tariffs, quotas, and the so-called ‘trade defense measures’ had significant negative effects on OECD imports from African countries. GTA’s evaluation of the trade measures, in terms of the nature of their likely impacts on trade flows, is, however, not confirmed in this study.

This study investigated the determinants of FDI in Africa during the time period from 1974 to 2013, and annual data from the World Bank, African Union and United Nation. The study used GMM estimator and conducted three estimations, namely, 5 years, 8 years and 10 years average’ estimations. Besides, to robustness check the results, the study used PMG estimator and therefore the full sample countries has been divided into three groups according to the income level, namely, low-income, lower middle-income and upper middle-income groups. The results suggested that the net inflows of the FDI in Africa are determined by economic growth, human capital, infrastructure, domestic investment and trade openness of the region.

This paper argues that the existence of selfish behavior in a given society is the result of individual preferences and the conditions prevailing in each society. But the selfish behavior is not necessarily the best option, even when individuals are maximizers of their welfare.

The Entrepreneurship Development Programmes (EDPs) became the most novel approach. The process of EDP ranges from identification of appropriate candidates, imparting necessary skills and knowledge about financial, technical and managerial aspect of business, to developing motivation and giving infrastructural support for establishing new business enterprises. Government of India has implemented several programmes in order to generate employment among unemployed youth. Experience of the entrepreneurs shows the number of years under which they have been working since its establishment. It indicates the life period of the business unit so far completed. It may influence the profitability and also the perception towards various problems encountered in enterprises. The performance of the enterprise is measured from the income of the enterprises. The returns of the enterprise indicate the total net income drawn from the enterprises. Entrepreneurs have orally stated the net income. The entrepreneurs are allowed to mention the average monthly income from the enterprises at the time of survey. The enterprises involvement index is a tool developed by Padaki at ten dimension which consists of motivation, role in promotion, role in management, role in decision making, time spent on unit related work, perceived satisfaction in life, training, pride in being an entrepreneur, membership in professional bodies and future plan. The present study is an attempt to analyze the operational performance of industrial estates in southern districts of Tamilnadu.