A Short-Run Macroeconomic Model for Less Developed and Newly Industrializing Countries based on the Keynesian Aggregate Demand Function

Discussions on macroeconomic systems, theirrelevance and validity mainly focused on Developed Countries.Survey of development literature, on the other hand, showsthere was scanty direct effort to discuss which macroeconomicsystem or school was relevant for the Less Developed Countries(LDCs) and Newly Industrializing Countries NICs). Similarly,for instance, much of the more recent discussions concerningthe implementation of market economy in these countries. Yetwe long had three major blocks to build a macroeconomicmodel for LDCs and NICs. These were: the relevance ofKeynesian aggregate demand, the excess labor and scarcity ofcapital, and the limited substitutability between labor andcapital. The latter two gave rise to capital constraint forproduction and to technological unemployment. In addition,rigidities and non-automaticity of aggregate demand generallygave an inflationary gap and demand inflation alongsidetechnological unemployment. This model is fundamentallyKeynesian with special conditions surrounding the productionfunction, supply and demand for labor taken intoconsideration. Going further, we may also add foreignexchange constraint to the capital constraint. Problems ofLDCs and NICs, policy recommendations to achieve prudentfinancial management, and the more recent attempts to movetowards the market economy and globalization can all beexplained within this Keynesian framework

Identification and Analyzing Of Effective Factors Elastics on Inflation Function in Iran by Using ARDL Methodology

we estimated the function of inflation for the period(1971-2009) by using the autoregressive distributed lag (ARDL)method. In addition, we used the error correction model andstability tests. According to our findings, the explanatoryvariables include gross domestic production, saving, governmentexpenditure, liquidity and import. The results show that there isa long-run equilibrium relationship between the variables.According to our findings, the liquidity and governmentexpenditure have positive impact on the inflation and grossdomestic production; saving and import have insignificantnegative effects on the inflation in Iran. The Error CorrectionModel (ECM) is about 73 percent, which indicates amountdeviation of equilibrium. Furthermore, the stability tests show ifthe inflation function is stable, therefore the two tests confirmthat the stability of the inflation function is existent

Tourist’s understanding of sustainable tourism An analysis in eight countries

The goal of this study is to learn moreabout tourists’ understanding of sustainable tourism.The empirical survey with over 6,000 respondents ineight countries identifies the most relevant aspects ofsustainable tourism from a tourists’ perspective.Overall the perception is balanced over the differentdimensions. Furthermore, five different typesregarding tourists’ understanding of sustainabletourism are identified in a cluster analysis and apotential market size of sustainable tourism of 22%of all tourists can be identified

Macro and Micro Earnings Manipulation: The Role of Accounting Standard Setting Process

Preparers of financial statements are in aposition to influence the view of economic reality presented inthose statements to interested parties. The term 'macromanipulation'is used to describe the lobbying of preparersagainst regulators (accounting standards setters) to persuadethem to produce regulation that is more favorable to theinterests of preparers. The aime of this paper is to introduce asuggested tool that could be used to ascertain why somefinancial accounting standards turn out to the benefit of one ofthe stakeholders involved in the process of accountingstandards setting. This paper utilizes the construct of power toreveal the influences from parties involved in the process ofaccounting standards setting. The comprehensive incomereporting standard is used in this paper as an example of thesetypes of standard that may involve 'macro-manipulation'

The Role of Guanxi in China’s Foreign Banks: A Review of the Literature

Guanxi has existed in China’s Confucian society formore than two thousand years and at the end of the 1970s whenChina opened its doors to the outside world, guanxi wasinvestigated in great detail. Current literature indicates that noprior studies of guanxi have been investigated in China’s bankingindustry, or in particular, the China’s foreign banks (“CFBs”).This paper provides a theoretical review of the existing literatureon guanxi in general to facilitate development of the researchproblem, gaps, questions and propositions/issues for furtherinvestigation into a study on the role of guanxi in the CFBs

Applying Visual Frameworks to Optimize Innovation Strategy

All companies have goals or targets as well as projections for various metrics. External and internal environmental factors, more often than not, push a company off course. This tendency, when a company strays from the optimal projected path, is called the Path/Goal problem. In the course of this paper, a framework will be constructed for managers to visualize their current position and path, with regard to their goals, competitors and environment. The framework will also provide insight for making decisions and crafting strategy. Furthermore, this paper will discuss and quantify when a course change (pivot) should be considered by evaluating the nature of the distribution of possible outcomes at any given point in time. The framework will then be used to contrast incumbent firms versus new entrants to a market as well as continuous versus discontinuous technological innovation strategies. More importantly, the framework will demonstrate how these situations relate to a company’s path toward their end goal. The final discussion will focus on strategies as well as their implications and risks with the goal of helping managers not only understand their situational environment, but also the implications of their decisions. Keywords- Agility; Bang the Corner; Continuous Innovation;Corporate Inertia; Course Change Coefficient; Course Correction;Discontinuous Innovation; Disruptive Innovation; EnvironmentalConditions; Environmental Volatility; Environmental Factors;Evaluation Cycle Time; Framework; Goal; Goal Boundary Plot;Incremental Innovation; Incumbent Firm; Innovation; InnovationStrategy; Middle of the Road; New Entrants; Optimization;Outcome Boundaries; Outcome Distribution; Strategy;Technological Innovation; True North Plot; Visual Framework;Zeta

The Pay Structure for Task Performance in the Hospitality Industry: The Role of Pay Satisfaction

Basic wages in the hospitality industry are often lower than other industries, which also cause lower equity ratios of input and output comparing to other industries. If all pay structure factors are positive related to pay satisfaction and task performance need to be questioned. This paper demonstrated the effects of pay structure in the hospitality industry and built a comprehensive model of pay structure, pay satisfaction, and task performance. 311 usable questionnaires from hotel employees were collected. The results show the direct and indirect relation among pay structure, task performance, and pay satisfaction. There are also moderation effects from the comprehension model

Leadership Practices of Small and Medium Enterprises in Singapore Hiring, Developing and Retaining Leaders

Singapore Small and Medium Enterprises (SME)provides 67% of the jobs and comprises 99% of all enterprises.Many of them continue to struggle with bringing their companiesforward because of talent shortage. Leaders are required atdifferent levels in order to ensure continued success whileexpanding. This paper aims to discover the current leadershippractices and gaps in leadership development of the SMEs

Primary Health Care Governance: Case Studies in Argentina and Brazil

Transaction Cost Economics is a recent perspectiveto organizations analysis, and it is still little applied in the publicsector. The purpose of this paper is to assess the relativeefficiency of two primary health care platforms, one in Argentinaand the another one in Brazil. The transaction costs arecategorized, counted and normalized into quartiles from directobservation, interviews and documental review. Besides,institutional arrangements are described. The discriminatinghypothesis of association between organizational efficiency andthe alignment of transaction characteristics with the governancemode is comparatively tested. The analysis showed that theBrazilian case presented lower frequency of transaction costsbecause its institutional arrangement contains more coordinationand incentives with less strategic uncertainty. The evaluationmethod developed in this paper highlights the importance ofstudying the characteristics of organization for the generation ofknowledge and production of managerial contributions overpublic health service’s delivery