Emerging markets

About: Emerging markets is a research topic. Over the lifetime, 34236 publications have been published within this topic receiving 702270 citations.

The Economic Effects of the Mega Sport Events on Tourism in the BRICS Countries Case

Abstract: At the beginning of the 21st century, events tourism witnessed an impressive development in a series of countries due to the increase of the spare time and of the people’s income, to the cheaper and more diversified world transport, especially the air transport and due to the emergence of new destinations. Emergent countries, such as China and Russia, recorded not only an increase in the number of tourists but also in the revenues from tourism activities. One of the reasons is the opening of these countries frontiers in order to reaffirm their power on international level (Golubchikov, 2016). Besides the relaxation, business and religious tourism, the sport tourism becomes more and more important. It also comprises the tourism for mega sport events, such as the Summer and Winter Olympics or the World Championships in different sports. For the organising countries, there is a real challenge to ensure the investments for the infrastructure, although it supports their economic development, being used after the sport events conclusion. Considering the available data from the World Bank and the World Tourism Organization (UNWTO), the authors make a quantitative investigation regarding the impact of the mega sport events on the tourism phenomenon in the BRICS countries. The article also researches a small and specific group of countries (BRICS), considering a niche tourism phenomenon. The article aims to emphasize the role of the mega sport events in the BRICS countries, directly connected with their capacity to economically support the organization of these events and also with the desire to internationally promote their national values.

An extended dual economy model: implications for emerging economies and their multinational firms

Abstract: Purpose The purpose of this paper is to introduce a new theoretical framework called the “extended dual economy model”. Based on the seminal work of Lewis (2014), the author uses it to explain the sectoral specialisation of home countries and their firms and MNEs. Design/methodology/approach The paper is multi-disciplinary and entirely conceptual, with cool ideas but very few numbers and equations. Findings Emerging economies exhibit a “duality” in their economic structure that reflects itself in two largely different sets of location (L) characteristics. They are simultaneously home to both “traditional” sectors, which are resource and labour intensive, as well as “modern” sectors, which are knowledge and capital intensive, each of which can be analysed as having two sub-economies. These different sets of location advantages shape the firm-specific advantages of EMNEs and their FDI. Research limitations/implications This analysis helps to underline what shapes the ability of home countries to “emerge”, and the ability of their firms to grow and their MNEs to become internationally competitive. Few EMNEs can thrive in international markets without concurrent growth in their domestic markets. Maintaining the appropriate location assets to optimally support both types of sectors is costly. Each type of sub-economy requires different kinds of support sectors, infrastructure and policies, with little overlap. Weaknesses in its home country L advantages hinder the long-term competitiveness of their EMNEs. Practical implications Few EMNEs can thrive in international markets without concurrent growth in their domestic markets. Weaknesses in its home country L advantages hinder the long-term competitiveness of their EMNEs. Originality/value The extension of the Lewisian dual economy model allows a number of interesting new insights because it allows us to consider firms, non-firms, informality and the bottlenecks associated with promoting knowledge-intensive sectors in a globalised world. It emphasises structural change, and the need to manage pathways and effectively channel growth.

On the Asymmetric Relationship Between Stock Market Development, Energy Efficiency and Environmental Quality: A Nonlinear Analysis

Abstract: It has been widely documented in the literature that financial development drives up the impact of CO2 emissions through increases in real economic activities and the consumption of polluting fossil fuel energy. However, when dealing with stock market development, such upward effects on economic growth, energy efficiency, and carbon emissions seems to give away to a positive impact especially in emerging markets. This paper contributes to this debate by exploring both the symmetric and asymmetric responses of CO2 emission to changes in stock market development indicators. In particular, using both the panel linear and nonlinear ARDL, our results demonstrate the asymmetric effects of stock market development indicators on carbon emissions in the context of emerging markets. In particular, the long-run elasticities results suggest that positive and negative shocks on stock market indicator decreases environ- mental quality by increasing carbon emissions. Based on these empirical findings, this study offers some crucial policy implications

Effects of quick response to COVID-19 with change in corporate governance principles on SMEs’ business continuity: evidence in Vietnam

Abstract: Purpose The purpose of this paper is to evaluate the negative impacts of the Coronavirus Disease-2019 (COVID-19) emergency on small- and medium-sized enterprises’ (SMEs) business continuity (BC) by examining the moderating role of corporate governance principles (CGP) on SMEs’ BC in the context of an emerging market. Design/methodology/approach Based on an extended literature review on the negative impacts of the COVID-19 emergency, CGP and BC studies, the authors evaluate the impact of these constructs on SMEs’ BC in an emerging market. This paper follows a quantitative approach. The study sample was composed of 334 responses covering directors, managers and owners of enterprises. The Smart PLS SEM version 3.3.2 was used to analyse the data from SMEs of Vietnam in the year 2021. Findings The findings of this study clarify the areas of the COVID-19 consequences that negatively affect the BC. In addition, this study reveals that CGP moderates the links between COVID-19 outcomes and BC, whereby good CGP can facilitate a business to reduce the adverse effects of COVID-19 on BC. In addition to this, good CGP can help a firm to enhance its capability to respond to fluctuations in the external environment of the business. Originality/value To the best of the authors’ knowledge, this is the first research that examines the moderating role of CGP. The originality of this study is that it gives an insight into how SMEs in an emerging economy overcome the adverse effects of the COVID-19 emergency on BC to keep their business going, and moreover, have the ability to move towards sustainability in today’s challenging context. This study provides the theoretical and managerial implications that may be of great interest to the academics, business practitioners and policymakers.