Pub Date : 2021-02-22DOI: 10.18356/2076099x-28-1-1
Lilach Nachum, G. Livanis, H. Hong
Building on a sociology theory of space, we conceptualize physical geography as separated from its constructed connotations and suggest that the impact of geographic location on countries’ attraction for foreign direct investment (FDI) is contingent upon their constructed qualities – that is, their unilateral characteristics and connectivity to other countries. Quantile regression analyses confirm these predictions and show notable variations across the distribution of FDI. The findings show that geography is not destiny and should rather be treated as an endogenous country characteristic whose consequences for FDI are subject to actions of policymakers and firms. Subsequent analyses show that the level of economic development affects the relationships between the physical and constructed consequences of geography on FDI, introducing significant differences between developed and developing countries. We outline the role for policy in shaping the contingencies that affect the relationships between geographic location and FDI.
{"title":"When Near is Far and Far is Near: Physical and Constructed Dimensions of Geography and Their Implications for Inward FDI Performance","authors":"Lilach Nachum, G. Livanis, H. Hong","doi":"10.18356/2076099x-28-1-1","DOIUrl":"https://doi.org/10.18356/2076099x-28-1-1","url":null,"abstract":"Building on a sociology theory of space, we conceptualize physical geography as separated from its constructed connotations and suggest that the impact of geographic location on countries’ attraction for foreign direct investment (FDI) is contingent upon their constructed qualities – that is, their unilateral characteristics and connectivity to other countries. Quantile regression analyses confirm these predictions and show notable variations across the distribution of FDI. The findings show that geography is not destiny and should rather be treated as an endogenous country characteristic whose consequences for FDI are subject to actions of policymakers and firms. Subsequent analyses show that the level of economic development affects the relationships between the physical and constructed consequences of geography on FDI, introducing significant differences between developed and developing countries. We outline the role for policy in shaping the contingencies that affect the relationships between geographic location and FDI.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45140029","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-02-13DOI: 10.18356/2076099x-28-1-5
Nina Vujanović, B. Casella, R. Bolwijn
The future patterns of foreign direct investment (FDI) are important inputs for policymakers, even more so during severe economic downturns, such as the one caused by the COVID-19 pandemic Yet, there is neither empirical consensus nor significant ongoing empirical research on the most appropriate tool for forecasting FDI inflows This paper aims to fill this gap by proposing an approach to forecasting global FDI inflows based on panel econometric techniques – namely the generalized method of moments – accounting for the heterogeneous nature of FDI across countries and for FDI dependence across time The empirical comparison with alternative time-series methods confirms the greater predictive power of the proposed approach
{"title":"Forecasting Global FDI: A Panel Data Approach","authors":"Nina Vujanović, B. Casella, R. Bolwijn","doi":"10.18356/2076099x-28-1-5","DOIUrl":"https://doi.org/10.18356/2076099x-28-1-5","url":null,"abstract":"The future patterns of foreign direct investment (FDI) are important inputs for policymakers, even more so during severe economic downturns, such as the one caused by the COVID-19 pandemic Yet, there is neither empirical consensus nor significant ongoing empirical research on the most appropriate tool for forecasting FDI inflows This paper aims to fill this gap by proposing an approach to forecasting global FDI inflows based on panel econometric techniques – namely the generalized method of moments – accounting for the heterogeneous nature of FDI across countries and for FDI dependence across time The empirical comparison with alternative time-series methods confirms the greater predictive power of the proposed approach","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46255131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Concerns regarding the operation of the global economy mean that recovery from the COVID-19 pandemic is unlikely to see a return to the previous globalization wave. We suggest that there is an opportunity to address some of the weaknesses of globalization through a more regionally-based world economy offering a better balance between national and international interests, efficiency and resilience in global supply chains, and between growth, inclusiveness, and equity impacts.
{"title":"Rising regionalization: Will the post-COVID-19 world see a retreat from globalization","authors":"Peter Enderwick, P. Buckley","doi":"10.18356/8008753a-en","DOIUrl":"https://doi.org/10.18356/8008753a-en","url":null,"abstract":"Concerns regarding the operation of the global economy mean that recovery from the COVID-19 pandemic is unlikely to see a return to the previous globalization wave. We suggest that there is an opportunity to address some of the weaknesses of globalization through a more regionally-based world economy offering a better balance between national and international interests, efficiency and resilience in global supply chains, and between growth, inclusiveness, and equity impacts.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74005873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This perspective paper examines the impact of the COVID-19 pandemic on global production and trade from the perspective of global value chains. Particular attention is paid to the transmission mechanisms and the role of digital technology in sustainable post-pandemic economic recovery. It argues that emerging technologies will be a driver of the global economic recovery, while the challenge to sustainable and inclusive global development will be significant, especially with regard to inequality and job creation. Also discussed are policy implications, to ensure this recovery is inclusive and sustainable, not leaving any country or people behind.
{"title":"Digital Transformation of Global Value Chains and Sustainable Post-Pandemic Recovery","authors":"Xiaolan Fu","doi":"10.18356/d30d9088-en","DOIUrl":"https://doi.org/10.18356/d30d9088-en","url":null,"abstract":"This perspective paper examines the impact of the COVID-19 pandemic on global production and trade from the perspective of global value chains. Particular attention is paid to the transmission mechanisms and the role of digital technology in sustainable post-pandemic economic recovery. It argues that emerging technologies will be a driver of the global economic recovery, while the challenge to sustainable and inclusive global development will be significant, especially with regard to inequality and job creation. Also discussed are policy implications, to ensure this recovery is inclusive and sustainable, not leaving any country or people behind.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46408962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research methods in international business by Lorraine Eden, Bo Nielsen and Alain Verbeke","authors":"","doi":"10.18356/28f5728e-en","DOIUrl":"https://doi.org/10.18356/28f5728e-en","url":null,"abstract":"","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91311576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book review: International Business","authors":"P. Buckley, Peter Enderwick, A. Cross","doi":"10.18356/24ecf5e6-en","DOIUrl":"https://doi.org/10.18356/24ecf5e6-en","url":null,"abstract":"","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78052929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
B. Casella, R. Bolwijn, Daniel Moran, Keiichiro Kanemoto
The UNCTAD-Eora Global Value Chain (GVC) database offers global coverage (189 countries and a “Rest of World” region) and a timeseries from 1990 to 2018, reporting on key GVC indicators. This paper explains the methodology for compiling the UNCTAD-Eora GVC database, including nowcasting employed in the estimation of recent years; second, it provides a comparison of the results against other value-added trade databases, with a focus on the OECD Trade in Value Added (TiVA) dataset; and lastly discusses the relevance of GVC data for the analysis of globalisation patterns, particularly at the intersection between trade, investment and development.
{"title":"UNCTAD insights: Improving the analysis of global value chains: the UNCTAD-Eora Database","authors":"B. Casella, R. Bolwijn, Daniel Moran, Keiichiro Kanemoto","doi":"10.18356/3aad0f6a-en","DOIUrl":"https://doi.org/10.18356/3aad0f6a-en","url":null,"abstract":"The UNCTAD-Eora Global Value Chain (GVC) database offers global coverage (189 countries and a “Rest of World” region) and a timeseries from 1990 to 2018, reporting on key GVC indicators. This paper explains the methodology for compiling the UNCTAD-Eora GVC database, including nowcasting employed in the estimation of recent years; second, it provides a comparison of the results against other value-added trade databases, with a focus on the OECD Trade in Value Added (TiVA) dataset; and lastly discusses the relevance of GVC data for the analysis of globalisation patterns, particularly at the intersection between trade, investment and development.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81513398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study presents a three-pillared analytical framework for the success factors and development outcomes of special economic zones (SEZs). The core argument is that countries that adopt a well-structured approach towards SEZs that they can align with the broader development strategy, executive effectively, and continuously evaluate and manoeuvre over time, are more successful in achieving SEZ-led economic transformation than others. This requires strategic bureaucratic competencies to make the right choices and set clear strategic directions; strategic bureaucratic learning to dynamically and interactively engage in adjusting the strategies when needed; and strategic bureaucratic strengths to implement the strategy effectively. These elements in turn need an effective political leadership with a strong development focus that can energise and motivate bureaucracies. The study revisits the experience of successful, not-so-successful and least successful countries across the globe within this framework and concludes by raising some pertinent concerns about SEZ-led development strategy that emerge from the analysis.
{"title":"SEZs and Economic Transformation: Towards a Developmental Approach","authors":"A. Aggarwal","doi":"10.18356/d5636c42-en","DOIUrl":"https://doi.org/10.18356/d5636c42-en","url":null,"abstract":"This study presents a three-pillared analytical framework for the success factors and development outcomes of special economic zones (SEZs). The core argument is that countries that adopt a well-structured approach towards SEZs that they can align with the broader development strategy, executive effectively, and continuously evaluate and manoeuvre over time, are more successful in achieving SEZ-led economic transformation than others. This requires strategic bureaucratic competencies to make the right choices and set clear strategic directions; strategic bureaucratic learning to dynamically and interactively engage in adjusting the strategies when needed; and strategic bureaucratic strengths to implement the strategy effectively. These elements in turn need an effective political leadership with a strong development focus that can energise and motivate bureaucracies. The study revisits the experience of successful, not-so-successful and least successful countries across the globe within this framework and concludes by raising some pertinent concerns about SEZ-led development strategy that emerge from the analysis.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46676406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Volume 26 number 2 of the Transnational Corporations journal is a special issue dedicated to special economic zones (SEZs) and their potential as vehicles for development. The issue grew out of research and background papers that fed into UNCTAD’s World Investment Report 2019, the thematic focus of which was SEZs. In compiling this issue, we sought to contextualize the emergence of SEZs, their evolution, and the associated policy trajectories that underpin them. This introductory paper amalgamates observations from the broader academic literature, as well as the findings of the World Investment Report 2019 and its associated background papers. A common theme is that a well-designed zone will evolve with the changing comparative advantages and development level of the underlying economy, in what is described as the “SEZ development ladder”. As the locational advantages change, the emphasis and the objectives of the SEZ must also change. Reliance on “generic” locational advantages must necessarily diminish, and greater emphasis needs to be placed on developing “specialized” locational advantages. Another key finding is that the benefits of an SEZ must intentionally “leak” beyond the perimeter of the zone. The pervasiveness of the direct, indirect, and induced extra-SEZ effects beyond the geographically bounded space of the SEZ determines its success or failure. Scope remains for future research on SEZs, focusing on their sustainability, the impact of the digital economy and industry 4.0, and the involvement of new financing partners for SEZ development.
{"title":"Using Special Economic Zones to Facilitate Development: Policy Implications","authors":"R. Narula, J. Zhan","doi":"10.18356/72E19B3C-EN","DOIUrl":"https://doi.org/10.18356/72E19B3C-EN","url":null,"abstract":"Volume 26 number 2 of the Transnational Corporations journal is a special issue dedicated to special economic zones (SEZs) and their potential as vehicles for development. The issue grew out of research and background papers that fed into UNCTAD’s World Investment Report 2019, the thematic focus of which was SEZs. In compiling this issue, we sought to contextualize the emergence of SEZs, their evolution, and the associated policy trajectories that underpin them. This introductory paper amalgamates observations from the broader academic literature, as well as the findings of the World Investment Report 2019 and its associated background papers. A common theme is that a well-designed zone will evolve with the changing comparative advantages and development level of the underlying economy, in what is described as the “SEZ development ladder”. As the locational advantages change, the emphasis and the objectives of the SEZ must also change. Reliance on “generic” locational advantages must necessarily diminish, and greater emphasis needs to be placed on developing “specialized” locational advantages. Another key finding is that the benefits of an SEZ must intentionally “leak” beyond the perimeter of the zone. The pervasiveness of the direct, indirect, and induced extra-SEZ effects beyond the geographically bounded space of the SEZ determines its success or failure. Scope remains for future research on SEZs, focusing on their sustainability, the impact of the digital economy and industry 4.0, and the involvement of new financing partners for SEZ development.","PeriodicalId":40060,"journal":{"name":"Transnational Corporations","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49419945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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