Abstract Competitive tension refers to pressure that is considered to exist among firms operating in a competitive market and that forces them to take competitive action against each other. An imaginary upper limit of competitive tension symbolizes the difference between whether to take competitive action or not. The antecedents of competitive tension are examined in this study. Within this scope, market commonality and resource similarity are the variables studied as components of competitor analysis; market concentration that provides clues for the competitive structure of competed markets; and finally, competitive asymmetry, presuming that the competition among the companies is not equal and rivals do not consider each other at the same level as competing firms, were taken as primary variables of competitive tension. In order to test whether these variables have an effect on competitive tension among airlines, airlines operating in the domestic air transport market in Turkey were examined in this study. The perceived competitive tension that was detected as a result of regression analyses was studied on three different dimensions, namely, internal tension, external tension, and total tension, and each dimension was analyzed as a different model. The findings of the study revealed that market commonality and market concentration have a significant effect on competitive tension. These effects were found to be positive for market commonality and negative for market concentration. Resource similarity and competitive asymmetry were found to have no significant effect.
{"title":"Identification of factors affecting competitive tension in the domestic air transport market in Turkey","authors":"M. Yasar, Ender Gerede","doi":"10.2478/ijme-2020-0009","DOIUrl":"https://doi.org/10.2478/ijme-2020-0009","url":null,"abstract":"Abstract Competitive tension refers to pressure that is considered to exist among firms operating in a competitive market and that forces them to take competitive action against each other. An imaginary upper limit of competitive tension symbolizes the difference between whether to take competitive action or not. The antecedents of competitive tension are examined in this study. Within this scope, market commonality and resource similarity are the variables studied as components of competitor analysis; market concentration that provides clues for the competitive structure of competed markets; and finally, competitive asymmetry, presuming that the competition among the companies is not equal and rivals do not consider each other at the same level as competing firms, were taken as primary variables of competitive tension. In order to test whether these variables have an effect on competitive tension among airlines, airlines operating in the domestic air transport market in Turkey were examined in this study. The perceived competitive tension that was detected as a result of regression analyses was studied on three different dimensions, namely, internal tension, external tension, and total tension, and each dimension was analyzed as a different model. The findings of the study revealed that market commonality and market concentration have a significant effect on competitive tension. These effects were found to be positive for market commonality and negative for market concentration. Resource similarity and competitive asymmetry were found to have no significant effect.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"16 1","pages":"118 - 139"},"PeriodicalIF":0.8,"publicationDate":"2020-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85165176","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}
Abstract This article concerns the determinants of foreign direct investment (FDI) outflow from India to Poland with some insights to other European countries. This topic strongly relates to globalization of foreign trade and especially new economic initiatives between European Union (EU) and India, which was one of the first countries to develop trade relations with EU. According to CEIC data – Financial Data and Economic Indicators, India’s FDI outflow increased slightly to 1.4 billion USD in September 2019 in comparison with 996.5 million USD in September 2018, but it is still below the average of 1.8 billion USD for a period of 2007–2019. Available at: https://www.ceicdata.com/en/india/foreign-direct-investment-outflow/foreign-direct-investment-outflow (accessed October 19, 2019). Very limited number of the scientific research can be found in European literature about India’s FDI outflow to EU countries in period of 2004–2019. Indian economists made some research on that topic. Professor J. Ramachandran (listed among the Best Management Thinkers for the year 2015, the first Bain Fellow in India) from Indian Institute of Management Bangalore in 2004 and Professor Jaya Prakesh Pradhan from Central University of Gujarat in 2008 explored the evolution in Indian outward FDI, referring to a shift in the pattern of overseas expansion and basis of competitiveness of Indian companies. The main goal of this article is to explain what really triggers Indian investors to go to Poland and what kind of businesses they form. Some examples of the Indian-based companies are mentioned to support the analysis. The author of this article also researched on different governmental bilateral trade agreements and initiatives, trying to find any direct impacts of that on the India FDI outflow to Poland and other EU countries. He used empirical method of the analysis based on accessible data for period 2004–2019 and literature in that topic and also direct interviews with private Indian investors who made decision to start and run their business in Poland or other EU countries. The main conclusion is that Poland the leader of Visegrad Group is an interesting investment for India and India can be for Poland a counterpart investment partner to China.
{"title":"Determinants of foreign direct investment outflow from India to Poland","authors":"Robert Dygas","doi":"10.2478/ijme-2020-0008","DOIUrl":"https://doi.org/10.2478/ijme-2020-0008","url":null,"abstract":"Abstract This article concerns the determinants of foreign direct investment (FDI) outflow from India to Poland with some insights to other European countries. This topic strongly relates to globalization of foreign trade and especially new economic initiatives between European Union (EU) and India, which was one of the first countries to develop trade relations with EU. According to CEIC data – Financial Data and Economic Indicators, India’s FDI outflow increased slightly to 1.4 billion USD in September 2019 in comparison with 996.5 million USD in September 2018, but it is still below the average of 1.8 billion USD for a period of 2007–2019. Available at: https://www.ceicdata.com/en/india/foreign-direct-investment-outflow/foreign-direct-investment-outflow (accessed October 19, 2019). Very limited number of the scientific research can be found in European literature about India’s FDI outflow to EU countries in period of 2004–2019. Indian economists made some research on that topic. Professor J. Ramachandran (listed among the Best Management Thinkers for the year 2015, the first Bain Fellow in India) from Indian Institute of Management Bangalore in 2004 and Professor Jaya Prakesh Pradhan from Central University of Gujarat in 2008 explored the evolution in Indian outward FDI, referring to a shift in the pattern of overseas expansion and basis of competitiveness of Indian companies. The main goal of this article is to explain what really triggers Indian investors to go to Poland and what kind of businesses they form. Some examples of the Indian-based companies are mentioned to support the analysis. The author of this article also researched on different governmental bilateral trade agreements and initiatives, trying to find any direct impacts of that on the India FDI outflow to Poland and other EU countries. He used empirical method of the analysis based on accessible data for period 2004–2019 and literature in that topic and also direct interviews with private Indian investors who made decision to start and run their business in Poland or other EU countries. The main conclusion is that Poland the leader of Visegrad Group is an interesting investment for India and India can be for Poland a counterpart investment partner to China.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"34 1","pages":"109 - 117"},"PeriodicalIF":0.8,"publicationDate":"2020-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81305391","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}
Abstract This article analyzes the institutional architecture and the level of similarity between the social protection system in 11 new EU member states from Central and Eastern Europe and chosen Western European countries, representing four different models of capitalism identified by Amable. In the selected institutional area, a comparative analysis was performed, and based on it, similarity hexagons were created. They serve the purpose of comparing Central and Eastern European (CEE) countries with Western European countries of reference. The dynamic approach adopted in this study—two different time periods were compared—allows an analysis of path dependence and the evolution of institutional architecture over time. The analysis indicates that in 2014, in the area of social protection, almost all CEE countries, apart from Latvia and Romania, were most comparable to the Continental model of capitalism represented by Germany. Nevertheless, the variety of results for the individual variables (especially input and output variables) and substantial changes between 2005 and 2014 also show that the model of capitalism prevailing in Central and Eastern Europe in the area of the social protection system is evolving constantly at a very fast pace and thus currently may be called a hybrid or even patchwork capitalism.
{"title":"The comparative empirical analysis of the social protection system in selected Central and Eastern European countries: Emerging models of capitalism","authors":"P. Maszczyk","doi":"10.2478/ijme-2020-0010","DOIUrl":"https://doi.org/10.2478/ijme-2020-0010","url":null,"abstract":"Abstract This article analyzes the institutional architecture and the level of similarity between the social protection system in 11 new EU member states from Central and Eastern Europe and chosen Western European countries, representing four different models of capitalism identified by Amable. In the selected institutional area, a comparative analysis was performed, and based on it, similarity hexagons were created. They serve the purpose of comparing Central and Eastern European (CEE) countries with Western European countries of reference. The dynamic approach adopted in this study—two different time periods were compared—allows an analysis of path dependence and the evolution of institutional architecture over time. The analysis indicates that in 2014, in the area of social protection, almost all CEE countries, apart from Latvia and Romania, were most comparable to the Continental model of capitalism represented by Germany. Nevertheless, the variety of results for the individual variables (especially input and output variables) and substantial changes between 2005 and 2014 also show that the model of capitalism prevailing in Central and Eastern Europe in the area of the social protection system is evolving constantly at a very fast pace and thus currently may be called a hybrid or even patchwork capitalism.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"26 1","pages":"159 - 175"},"PeriodicalIF":0.8,"publicationDate":"2020-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90338815","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}
Abstract This article aims to quantify the institutional similarities between industrial relations systems in 11 Central and Eastern European countries (CEE11), on the one hand and each of the four models of capitalism in Western Europe identified by Amable [2003], on the other hand. The comparative analysis was performed on the basis of six variables. Three of them represent inputs or institutional determinants of industrial relations. Another three variables represent outputs or the labor market performance. For each variable, the similarity coefficients between CEE11 countries and four reference EU15 economies representing Western European models of capitalism were calculated. Based on these coefficients, the hexagons of similarity were built. The analyses led us to some general observations. In 2005, most of the countries in the region developed industrial relations systems similar to the continental model, what can be interpreted as a strategy to meet the requirements imposed on these countries in the process of European integration. After accession, most of the countries abandoned “social partnership” ship and started the cruises to the Anglo-Saxon model.
{"title":"The comparative analysis of the industrial relations systems in Europe","authors":"Juliusz Gardawski, Rafał Towalski","doi":"10.2478/ijme-2020-0003","DOIUrl":"https://doi.org/10.2478/ijme-2020-0003","url":null,"abstract":"Abstract This article aims to quantify the institutional similarities between industrial relations systems in 11 Central and Eastern European countries (CEE11), on the one hand and each of the four models of capitalism in Western Europe identified by Amable [2003], on the other hand. The comparative analysis was performed on the basis of six variables. Three of them represent inputs or institutional determinants of industrial relations. Another three variables represent outputs or the labor market performance. For each variable, the similarity coefficients between CEE11 countries and four reference EU15 economies representing Western European models of capitalism were calculated. Based on these coefficients, the hexagons of similarity were built. The analyses led us to some general observations. In 2005, most of the countries in the region developed industrial relations systems similar to the continental model, what can be interpreted as a strategy to meet the requirements imposed on these countries in the process of European integration. After accession, most of the countries abandoned “social partnership” ship and started the cruises to the Anglo-Saxon model.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"60 6 1","pages":"42 - 62"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79758622","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}
Abstract So far, very little attention has been paid to the roles of foreign subsidiaries located in Poland and if or how these roles have evolved. Simultaneously, there exists strong empirical justification for assuming these roles have been evolving over the years. Through a literature review and empirical case study of a foreign subsidiary located in Poland, this study analyzes the evolution of the subsidiary role and indicates its relations with groups of external and internal determinants. The case study examines a 10-year period of operations of a foreign subsidiary active in the automotive industry. The results indicate that the evolution of the subsidiary role encompasses factors such as markets served, functional areas of operations, and complexity of operations. The presented case study describes the complex relations among factors related to the subsidiary, HQ, and environment concerning the evolution of the subsidiary role.
{"title":"Long-term evolution of the subsidiary’s role: a qualitative perspective on a subsidiary located in Poland1","authors":"M. Dzikowska, M. Gorynia","doi":"10.2478/ijme-2020-0001","DOIUrl":"https://doi.org/10.2478/ijme-2020-0001","url":null,"abstract":"Abstract So far, very little attention has been paid to the roles of foreign subsidiaries located in Poland and if or how these roles have evolved. Simultaneously, there exists strong empirical justification for assuming these roles have been evolving over the years. Through a literature review and empirical case study of a foreign subsidiary located in Poland, this study analyzes the evolution of the subsidiary role and indicates its relations with groups of external and internal determinants. The case study examines a 10-year period of operations of a foreign subsidiary active in the automotive industry. The results indicate that the evolution of the subsidiary role encompasses factors such as markets served, functional areas of operations, and complexity of operations. The presented case study describes the complex relations among factors related to the subsidiary, HQ, and environment concerning the evolution of the subsidiary role.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"79 1","pages":"79 - 95"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91102802","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}
Abstract It is a common knowledge that the eastern enlargement of the European Union (EU) was an extremely important undertaking for both the New Member States (EU-10) and the “old Union” countries (EU-15). One of the most important effects was significant acceleration of the development of mutual trade links, including changes in their commodity structure. In the study presented in this article, we attempted to verify the hypothesis whether, as a consequence of the eastern enlargement, the EU-10 and EU-15 markets were increasingly treated by the exporters and importers from Poland as a single market. In analyzing changes in the similarity of import and export structures, we calculated “Euclidean distance” (in 2004–2017), the measure based on absolute differences of individual structure indices. We compared the results for Poland with the other New Member States operating on the single European market. We found that for more than a dozen years Polish exporters and importers have contributed to the increasing similarity of the structures of their respective countries’ trade and the EU patterns mostly shaped by the EU-15. The results reflect the ongoing unification of the foreign trade system and its arrangement toward the recognition of both areas as a single market.
{"title":"Poland in the single European market—changes in the similarity of import and export structures in comparison with the EU-10 countries in 2004–20171","authors":"Edward Molendowski, Wojciech Polan","doi":"10.2478/ijme-2020-0002","DOIUrl":"https://doi.org/10.2478/ijme-2020-0002","url":null,"abstract":"Abstract It is a common knowledge that the eastern enlargement of the European Union (EU) was an extremely important undertaking for both the New Member States (EU-10) and the “old Union” countries (EU-15). One of the most important effects was significant acceleration of the development of mutual trade links, including changes in their commodity structure. In the study presented in this article, we attempted to verify the hypothesis whether, as a consequence of the eastern enlargement, the EU-10 and EU-15 markets were increasingly treated by the exporters and importers from Poland as a single market. In analyzing changes in the similarity of import and export structures, we calculated “Euclidean distance” (in 2004–2017), the measure based on absolute differences of individual structure indices. We compared the results for Poland with the other New Member States operating on the single European market. We found that for more than a dozen years Polish exporters and importers have contributed to the increasing similarity of the structures of their respective countries’ trade and the EU patterns mostly shaped by the EU-15. The results reflect the ongoing unification of the foreign trade system and its arrangement toward the recognition of both areas as a single market.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"1 1","pages":"20 - 30"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78903298","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}
Abstract The aim of this article is to determine the current state of impact of various forms of intangible assets on the internationalization process. For the purpose of the paper meta-analysis was adopted as a method of the study. English-language peer-reviewed journal articles were analyzed only with the help of: EBSCOhost, ScienceDirect, Emerald, JSTOR, ProQuest and Wiley Online databases. The search was aimed at newest papers (after 2012), however some older articles (with regard to their value) were included in the analysis as well. Based on the conducted analysis, there was observed a significant and positive link between the level of employee education and internationalization probability and extent. The effect of the wages on internationalization is stage dependent. Under certain assumptions there is a positive and strong relationship between R&D intensity and internationalization. Advertising spending do not foster the process of internationalization. The practical contribution of this research is twofold. First, it provides valuable insight for practitioners which intangible assets and how foster various modes of the internationalization process. Second, it describes upon which conditions the interrelation between firm intangible assets and internationalization is significant and positive.
{"title":"Intangible assets in the process of internationalization","authors":"Łukasz Bryl","doi":"10.2478/ijme-2020-0004","DOIUrl":"https://doi.org/10.2478/ijme-2020-0004","url":null,"abstract":"Abstract The aim of this article is to determine the current state of impact of various forms of intangible assets on the internationalization process. For the purpose of the paper meta-analysis was adopted as a method of the study. English-language peer-reviewed journal articles were analyzed only with the help of: EBSCOhost, ScienceDirect, Emerald, JSTOR, ProQuest and Wiley Online databases. The search was aimed at newest papers (after 2012), however some older articles (with regard to their value) were included in the analysis as well. Based on the conducted analysis, there was observed a significant and positive link between the level of employee education and internationalization probability and extent. The effect of the wages on internationalization is stage dependent. Under certain assumptions there is a positive and strong relationship between R&D intensity and internationalization. Advertising spending do not foster the process of internationalization. The practical contribution of this research is twofold. First, it provides valuable insight for practitioners which intangible assets and how foster various modes of the internationalization process. Second, it describes upon which conditions the interrelation between firm intangible assets and internationalization is significant and positive.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"1 1","pages":"63 - 78"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79176512","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}
Abstract The purpose of this article is to examine the changes that have occurred after Poland’s integration into the European Union (EU) internal market for services after 2004 considering the legal changes adopted in the EU relating to the free movement of services, namely, the Service Directive. An examination of the Directive’s outcome and the development of the market integration process permit the conclusion that the changes in regulatory trade barriers have had a relatively limited impact on the changes that have occurred in EU–Polish ties concerning services trade. These were predominantly shaped by structural and macroeconomic factors. From an analysis of the structure of Poland’s services trade, a picture emerges of a deepening asymmetry between the exports and imports sides of Poland’s participation in the internal market.
{"title":"Fifteen years of Poland’s membership of the European Union: Poland’s participation in the internal market for services","authors":"Alina Szypulewska-Porczyńska, Magdalena Suska","doi":"10.2478/ijme-2020-0005","DOIUrl":"https://doi.org/10.2478/ijme-2020-0005","url":null,"abstract":"Abstract The purpose of this article is to examine the changes that have occurred after Poland’s integration into the European Union (EU) internal market for services after 2004 considering the legal changes adopted in the EU relating to the free movement of services, namely, the Service Directive. An examination of the Directive’s outcome and the development of the market integration process permit the conclusion that the changes in regulatory trade barriers have had a relatively limited impact on the changes that have occurred in EU–Polish ties concerning services trade. These were predominantly shaped by structural and macroeconomic factors. From an analysis of the structure of Poland’s services trade, a picture emerges of a deepening asymmetry between the exports and imports sides of Poland’s participation in the internal market.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"31 1","pages":"19 - 3"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90641919","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}
Abstract The high-technology sector has a particular importance in the development of modern national economies. It affects both the level of competitiveness and innovation. This was a prerequisite for the study to assess the competitive position of the advanced technology sector in the European Union (EU) countries. The starting point of the discussion was the definition of the concept of competitiveness, the competitive position of the advanced technology industry, and the classification of the high-tech sector. Based on the selected indicators, the competitive position and the rank of countries have been established. As for this, the indicators of the export share of the advanced technology sector in the intra-export market, the profitability of the high-tech sector, and the degree of export–import coverage were used. Based on the adopted indicators, a synthetic indicator of a competitive position has also been calculated which enabled determination of the most competitive country in the EU in reference to the industry. This enabled the identification of factors influencing the competitive position of the advanced technology sector in the EU member countries.
{"title":"Diversification of the competitive position of the advanced technology sector in EU","authors":"M. Juchniewicz, M. Łada","doi":"10.2478/ijme-2020-0006","DOIUrl":"https://doi.org/10.2478/ijme-2020-0006","url":null,"abstract":"Abstract The high-technology sector has a particular importance in the development of modern national economies. It affects both the level of competitiveness and innovation. This was a prerequisite for the study to assess the competitive position of the advanced technology sector in the European Union (EU) countries. The starting point of the discussion was the definition of the concept of competitiveness, the competitive position of the advanced technology industry, and the classification of the high-tech sector. Based on the selected indicators, the competitive position and the rank of countries have been established. As for this, the indicators of the export share of the advanced technology sector in the intra-export market, the profitability of the high-tech sector, and the degree of export–import coverage were used. Based on the adopted indicators, a synthetic indicator of a competitive position has also been calculated which enabled determination of the most competitive country in the EU in reference to the industry. This enabled the identification of factors influencing the competitive position of the advanced technology sector in the EU member countries.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"28 1","pages":"31 - 41"},"PeriodicalIF":0.8,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76175859","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}
Abstract The growth of total factor productivity (TFP) in advanced economies has slowed significantly after the 1970s. The global financial crisis (GFC) has resulted in the second productivity growth slowdown. This paper, on the basis of a broad literature review, identifies the structural forces and legacies of the financial crisis, explaining the productivity growth slowdown and providing possible policy solutions. The mismeasurement hypothesis is also discussed. The slowing pace of innovations, population aging, slowing human capital accumulation, limits of structural transformation, capital misallocation, and firm-level factors are identified as structural forces slowing TFP growth. Lack of capital deepening, financial frictions, and slowdown of international trade are the most important legacies of GFC affecting productivity growth.
{"title":"The productivity growth slowdown in advanced economies: causes and policy recommendations","authors":"M. Wroński","doi":"10.2478/ijme-2019-0020","DOIUrl":"https://doi.org/10.2478/ijme-2019-0020","url":null,"abstract":"Abstract The growth of total factor productivity (TFP) in advanced economies has slowed significantly after the 1970s. The global financial crisis (GFC) has resulted in the second productivity growth slowdown. This paper, on the basis of a broad literature review, identifies the structural forces and legacies of the financial crisis, explaining the productivity growth slowdown and providing possible policy solutions. The mismeasurement hypothesis is also discussed. The slowing pace of innovations, population aging, slowing human capital accumulation, limits of structural transformation, capital misallocation, and firm-level factors are identified as structural forces slowing TFP growth. Lack of capital deepening, financial frictions, and slowdown of international trade are the most important legacies of GFC affecting productivity growth.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"100 1","pages":"391 - 406"},"PeriodicalIF":0.8,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77811457","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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