Exploring technology upgrading of emerging economies: From ‘shifting wealth I’ to ‘shifting wealth II’?
In the coming decades in the process of globalization the position of the USA and Europe will weaken, while the role of developing countries will increase. The role of the two largest emerging economies – China and India – will be of special significance. What future will these fast-growing giants face? The demographers agree that pretty soon India will lead the world in population and thus surpass China, while China will encounter serious population ageing. But economic and political scenarios of the future are quite different: from resounding success and world leadership to collapse caused by demographic and socio-political troubles. Which of them is more feasible? In the present article I analyze the Chinese and Indian development models separately and comparatively and make prognosis of their perspectives in the twenty-first century. Such an analysis could be helpful for understanding Russia's ways of development.
The key purpose of this this study is to investigate the role of Internal Market Orientation (IMO) and its impact on job satisfaction and employees’ commitment in a research context of the small and medium business organizations operating in emerging economy, which represents a different multifaceted cultural setting as well. The results of completed research exhibit an ample empirical evidence for the IMO concept proficiency for small and medium businesses in a divergent business and cultural environment. One of the main findings is the positive influence of IMO on job satisfaction and on employees’ commitment to the job.
In the coming decades in the process of globalization the position of the USA and Europe will weaken, while the role of developing countries will increase. The role of the two largest emerging economies – China and India – will be of special significance. What future will these fast-growing giants face? The demographers agree that pretty soon India will lead the world in population and thus surpass China, while China will encounter serious ageing population problems. But economic and political scenarios of the future are quite different: from resounding success and world leadership to collapse caused by demographic and socio-political troubles. Which of them is more feasible? In the present article I analyze the Chinese and Indian development models separately and comparatively and make a forecast of their perspectives in the 21st century. Such an analysis could be helpful for understanding Russia's ways of development
Due to its ability to create and disseminate knowledge, the modern university is understood as a central agent in innovation systems and technology upgrading dynamics. The main objective of this article is to assess the evolution of universities' embeddedness within the innovation system of an emerging economy in terms of patenting activity and linkages to industry. The study is based on information relating to the twelve most eminent universities in Brazil for the years 1994, 2004 and 2014. These institutions are found responsible for a substantial share of Brazilian patents – with an upward trend over the years - and these institutions have demonstrated a progressive embeddedness to the national innovation system. Such behavior seems to have co-evolved along with improvements in the national institutional environment, leading to expectations that academia can become strategic in shaping the catching-up conditions in Brazil for the coming years. However, deeper connections with both domestic and foreign agents and multinational corporations are needed in order to accelerate the pace of university contribution to value chains and technology upgrading.
A huge increase in engineering graduates from the BRIC countries in recent decades potentially threatens the competitiveness of developed countries in producing high value-added products and services, while also holding great promise for substantially increasing the level of global basic and applied innovation. The key question is whether the quality of these new BRIC engineers will be high enough to actualize this potential. The objective of our study is to assess the evolving capacity of BRIC higher education systems to produce quali“ed engineering graduates. To meet this objective, we compare developments in the quality of undergraduate engineering programs across elite and non-elite higher education tiers within and across each BRIC country. To assess and compare the quality of engineering education across the BRIC countries, we use multiple sources of primary and secondary data gathered from each BRIC country from 2008 to 2011. In combination with this, we utilize a production function approach that focuses on key input-, process- and outcome-based indicators associated with the quality of education programs. Our analysis suggests that in all four countries, a minority of engineering students receives high quality training in elite institutions while the majority of students receive low quality training in non-elite institutions. Our analysis also shows how the BRIC countries vary in their capacity to improve the quality of engineering education.
Outward Foreign Direct Investment (OFDI) has been utilized by developed economies to enter developing markets for competitive advantages. However, recent boom in OFDI from emerging economies has prompted the question as to why these economies are investing abroad? A modest amount of literature exists regarding China and India, however, Turkey being an emerging economy has been largely untapped when it comes to determinants of OFDI. This study uses the Global Competitiveness Index (GCI) to find host and home country factors which have led to OFDI from Turkey to their top 10 investment destinations for the past 10 years. The host country factors found to be significantly correlated with Turkish OFDI are innovation (Netherlands and Russia), technological readiness (Russia and UK), labor market efficiency (Netherlands), infrastructure (Netherlands), domestic market size (Germany), and exports (UK). The home factors found to be significantly correlated with Turkish OFDI are infrastructure and domestic competition.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.