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Dynamics of international reserve accumulation in Turkish economy

100%
Ayhan D., Turgutlu E.
Journal of Economics and Management
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2015
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vol. 20A
59-72
EN
Many of the emerging market economies embody macroeconomic and structural vulnerabilities due to large deficits, high inflation, slowing growth and heavy reliance on short-term capital inflows. Therefore, accumulation of international reserve holdings has been frequently used by authorities to serve as an insurance against the volatility of the capital flows and strengthen the fragile nature of these economies. Turkish economy, classified as one of the most fragile of the emerging economies, has been experiencing a similar process of international reserve accumulation. The chronically high current account deficit and low savings rate boost the importance of international reserves. Thus, the aim of this paper is to investigate the determinants of international reserves in Turkey. The dataset covers the 2000-2013 period. Consequently, we find that the international reserve accumulation is mainly explained by current account balance, per capita income and past crisis experience.
2
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A New Partnership of Developing Regions: Africa - China, India, Brazil, and its Importance for the Operation of African Regional Economic Communities (RECs)

86%
Garlińska-Bielawska J.
Central European Review of Economics & Finance
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2015
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issue Vol. 10, No 4
105-115
EN
With the emergence of Brazil, Russia, India, and China (the BRIC countries) as new sources of global economic, trade and investment growth, the world economy has experienced a relative shift in economic power in the 21st century. The dominance of these new rights has accompanied a significant improvement in economic prospects for Africa. According to The Economist, "Over the past decade, Africa has gone from being the 'hopeless continent' to a 'rising star' and the next major growth pole in the world economy". In this peculiar situation in world economy, the aim of this paper is to analyse the economic cooperation between African states and China, India, and Brazil in the 21st century, and its importance for the integration processes on the continent. The paper uses an analytical and descriptive method, and also national and international literature, and statistical data from the United Nations Conference on Trade and Development - UNCTAD. United Nations Economic Commission for Africa - ECA and Standard Bank. The analysis shows the necessity for African RECs to develop a consistent policy in the area of co-operation with emerging economies, in order to increase the benefits of regional integration and strengthen the bargaining position of the region.(original abstract)
3
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Rola rodzimych korporacji wielonarodowych w rozwoju przemysłu wysokich technologii na rynkach wschodzących

86%
Łasak P.
Studia Ekonomiczne
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2016
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vol. 271
102-114
PL
Niezwykle istotnym zagadnieniem na gruncie współczesnej ekonomii międzynarodowej jest rozwój przemysłów high-tech przez kraje zaliczane do rynków wschodzących. Kluczową rolę odgrywają na tych rynkach rodzime korporacje wielonarodowe (EMNC), gdyż to one zapewniają podnoszenie krajowych osiągnięć technologicznych. Celem artykułu jest identyfikacja mechanizmów służących zdobywaniu zaawansowanych technologii przez EMNC. Przyjętymi metodami badawczymi były studia literaturowe i analiza przypadków. Rozwój zaawansowanych technologii na rynkach wschodzących przebiega inaczej niż miało to miejsce w przeszłości w krajach, które obecnie są wysoko rozwiniętymi. Pozyskanie technologii przez EMNC może obejmować wiele procesów, np. inżynierię zwrotną lub odwrócony outsourcing. Istotna jest internacjonalizacja EMNC, która umożliwia zdobycie strategicznych aktywów. Bardzo często nie przebiega ona w sposób sekwencyjny, lecz ma charakter niekonwencjonalny.
EN
A very important issue in contemporary international economics is the development of high-tech industries in emerging markets. Key role in these markets are playing Emerging Markets National Corporations (EMNC). They are able to improve countries’ technological advancement. The aim of this article is to identify mechanisms of the acquirement of advanced technology by EMNC. The applied methods are desk study and case study. The process of technology development in emerging markets is different than it was in the past in developed states. Acquisition of advanced technologies by EMNC may include many processes, e.g. reverse engineering or reverse outsourcing. An important process is EMNC internationalization which enables to achieve strategic assets. Very often it is not a gradual process, but its course is unconventional.
4
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Cross-Country Differences in Return and Volatility Metrics of World Equity Indices

86%
Sheraliev I., Ślepaczuk R.
Central European Economic Journal
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2022
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vol. 10
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issue 57
91-115
EN
This research seeks to determine whether the cross-country differences in return and volatility metrics in various country equity indices can be explained by differences in economic development. We base the study on the MSCI IMI net income indices on two samples: a 51-country sample from the period 31 May 2002 to 28 February 2022, and a 75-country sample from the period 30 November 2010 to 28 February 2022. In this study, countries are grouped into four categories: frontier, emerging, early-developed, and developed, based on gross domestic product (GDP) per capita. The Kruskal–Wallis rank sum test is used to find cross-group differences, and the results are further analyzed with the pairwise Wilcoxon rank sum test with the Holm–Bonferroni p value adjustment method. The results are relatively unintuitive and show that there is no significant cross-group difference in daily and monthly returns. There is evidence of a considerable difference in volatility metrics, especially in the case of the emerging market group, which is significantly different from the three other groups. The results are slightly sensitive to time period change and very sensitive to changes in income categories of some countries.
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Rozwój i zmiana struktury światowych rynków finansowych

72%
Stanisławski M.
Studia Ekonomiczne
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2013
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vol. 174
15-27
EN
Until 15th August 1971 the value of the U.S. dollar was anchored to gold. Facing an emerging currency crisis and the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated by President Nixon. It has begun the process of financialization the global economy. Until the end of XX century this process has concerned mainly developed countries with mature economies, presently it has happened also on emerging markets. In 2010, emerging economies made up for 21 per cent of the global financial assets worth 198 trillion USD. The value of financial assets worldwide is expected to touch 371 trillion USD by 2020, with emerging economies accounting for about one third of the total amount (111 trillion USD). The projected worth of financial assets in 2020 would be nearly double the value of around 198 trillion USD witnessed in 2010. Increase in the share of emerging markets is both a barrier effect of demand for financial products as a consequence of over-saturation of financial products of developed countries and the growing affluence of the societies of Asia, Latin America, and Central Europe. The purpose of this article is to present the development of global financial markets and to discuss the progressive process of the structural transformation in the global capital market, caused by the growing importance of the emerging markets.
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Positions of the BRICS countries in world economics innovation

58%
Rodionova I., Epifantseva A.
Studia Ekonomiczne
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2017
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vol. 323
107-117
EN
There are many new leaders – not only regional but also global, and this is the indicator of emerging multipolar world. Issues of the development of BRICS and the position of these countries in the world economy was considered in this context. Aim of the paper is to show role of China in BRICS group, which does not establish a sensu stricto system Paper is focusing on CGI index. The comparison of the positions of the leading countries of the world economy and the BRICS countries in international rankings of the innovation development was held in this article.
PL
Wskaźnikiem kształtowania się spolaryzowanego świata jest pojawienie się wielu nowych liderów – nie tylko regionalnych, ale również globalnych. W tym kontekście muszą być rozważane kwestie rozwoju BRICS i pozycji krajów do niego należących w gospodarce światowej. Celem tego artykułu jest wykazanie znaczącej roli Chin w grupie BRICS, która nie stanowi systemu sensu stricto. Artykuł skupia się na indeksie CGI. Przedstawiono także porównanie pozycji wiodących krajów gospodarki światowej i państw BRICS w międzynarodowych rankingach rozwoju innowacji.
7
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BRICS countries in the international rankings of education and innovation development

58%
Rodionova I. A.
Studia Ekonomiczne
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2016
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vol. 291
24-33
EN
All BRICS countries are the regional leaders. But now they are transformed to the largest players in the global arena. The places of the BRICS universities in the international rankings will be characterized. The positions of the BRICS countries in the international rankings of innovation capabilities will be characterized in comparison with the positions of the leaders of the global economy in this article. It is the fact, that China occupies a higher position in the international rankings, compared with the rest of the BRICS countries.
PL
Wszystkie kraje BRICS są regionalnymi liderami, lecz teraz są w trakcie przemian do największych graczy na światowej arenie. W artykule przedstawiono międzynarodowy ranking uwzględniający pozycje uniwersytetów krajów BRICS, a także ranking krajów BRICS w zakresie innowacji w porównaniu do liderów światowej gospodarki. Faktem jest, że Chiny zajmują wyższe miejsce w międzynarodowych rankingach wśród pozostałych krajów BRICS.
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