Badi H. Baltagi, Georges Bresson and Jean-Michel Etienne
This chapter proposes semiparametric estimation of the relationship between growth rate of GDP per capita, growth rates of physical and human capital, labor as well as other…
Abstract
This chapter proposes semiparametric estimation of the relationship between growth rate of GDP per capita, growth rates of physical and human capital, labor as well as other covariates and common trends for a panel of 23 OECD countries observed over the period 1971–2015. The observed differentiated behaviors by country reveal strong heterogeneity. This is the motivation behind using a mixed fixed- and random coefficients model to estimate this relationship. In particular, this chapter uses a semiparametric specification with random intercepts and slopes coefficients. Motivated by Lee and Wand (2016), the authors estimate a mean field variational Bayes semiparametric model with random coefficients for this panel of countries. Results reveal nonparametric specifications for the common trends. The use of this flexible methodology may enrich the empirical growth literature underlining a large diversity of responses across variables and countries.
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Yaw A. Debrah and Ian G. Smith
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on…
Abstract
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on work and employment in contemporary organizations. Covers the human resource management implications of organizational responses to globalization. Examines the theoretical, methodological, empirical and comparative issues pertaining to competitiveness and the management of human resources, the impact of organisational strategies and international production on the workplace, the organization of labour markets, human resource development, cultural change in organisations, trade union responses, and trans‐national corporations. Cites many case studies showing how globalization has brought a lot of opportunities together with much change both to the employee and the employer. Considers the threats to existing cultures, structures and systems.
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In order to reflect the essential characteristics of interval grey number and study the ranking method of interval grey number as a whole, this paper aims to establish a ranking…
Abstract
Purpose
In order to reflect the essential characteristics of interval grey number and study the ranking method of interval grey number as a whole, this paper aims to establish a ranking method of interval grey number.
Design/methodology/approach
First, based on the generalised greyness of interval grey number, the definitions of referenced grey number and proximity degree are given. Second, based on the greyness distance of interval grey number, the proximity degree model is constructed and its properties are analysed. Finally, some examples are given to illustrate the effectiveness of the proximity degree model.
Findings
The results show that the index of proximity degree can better reflect the degree that the interval grey number is relatively close to the referenced grey number in different cases. The proximity degree model used to compare interval grey numbers is an extension of the model used to compare real numbers. The examples show that the proximity degree model of interval grey number proposed in this paper is feasible and effective.
Practical implications
The research studies show that the proximity degree model can be used for the ranking of interval grey numbers or real numbers and also for the ranking of numbers where interval grey numbers coexist with real numbers. In addition, the proximity degree model provides a theoretical basis for the establishment of grey comprehensive evaluation model.
Originality/value
The paper succeeds in putting forward the conceptions of referenced grey number and proximity degree based on the generalised greyness of interval grey number and constructing the proximity degree model for the ranking of interval grey number.
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Arrangements for regional economic integration, under the WTO system, have unexpectedly dominated globalization. In fact, countries that have realized economic arrangements, such…
Abstract
Arrangements for regional economic integration, under the WTO system, have unexpectedly dominated globalization. In fact, countries that have realized economic arrangements, such as the EU 's monetary union, are further expanding their efforts to achieve political integration. Regional economic integration is now considered an exigency of national affairs. North East Asian countries are also affected by this global predicament, but the issue involves greater structural complexities in this region. The emergence of China has forced Japan and Korea to contemplate difficult structural adjustments. For example, while the Korean government recognizes the importance of stronger intra-regional economic cooperation, by pursuing these arrangements it simultaneously faces the dilemma of maintaining traditional partnerships, such as those with the USA and Japan. If Korea actively supports regional economic arrangements, this action would be perceived as a bias toward China, consequently damaging ties with the US. Thus, rather than depending on public initiatives to establish economic ties in North East Asia, China, Japan and Korea should rely on market friendly projects initiated by the private sector that endorse gradual integration through non-political activities and exchanges among the citizens of the respective countries. This paper first proposes the founding of a North East Asian United University Community composed of students, professors and campuses of the three countries in the initial stages. Secondly, it proposes the development of unique Asian commodities, a concept similar to that of 'Airbus. ' Finally, it proposes utilization of retired Japanese, Korean and Chinese engineers and technicians to speed up the overall level of technology, which is critical to overcoming backwardness in this region.
In order to solve the decision-making problem that the attributive weight and attributive value are both interval grey numbers, this paper tries to construct a multi-attribute…
Abstract
Purpose
In order to solve the decision-making problem that the attributive weight and attributive value are both interval grey numbers, this paper tries to construct a multi-attribute grey decision-making model based on generalized greyness of interval grey number.
Design/methodology/approach
Firstly, according to the nature of the generalized gresness of interval grey number, the generalized weighted greyness distance between interval grey numbers is given, and the transformation relationship between greyness distance and real number distance is analyzed. Then according to the objective function that the square sum of generalized weighted greyness distances from the decision scheme to the best scheme and the worst scheme is the minimum, a multi-attribute grey decision-making model is constructed, and the simplified form of the model is given. Finally, the grey decision-making model proposed in this paper is applied to the evaluation of technological innovation capability of 6 provinces in China to verify the effectiveness of the model.
Findings
The results show that the grey decision-making model proposed in this paper has a strict mathematical foundation, clear physical meaning, simple calculation and easy programming. The application example shows that the grey decision model in this paper is feasible and effective. The research results not only enrich the grey system theory, but also provide a new way for the decision-making problem that the attributive weights and attributive values are interval grey numbers.
Practical implications
The decision-making model proposed in this paper does not need to seek the optimal solution of the attributive weight and the attributive value, and can save the decision-making labor and capital investment. The model in this paper is also suitable for the decision-making problem that deals with the coexistence of interval grey numbers and real numbers.
Originality/value
The paper succeeds in realizing the multi-attribute grey decision-making model based on generalized gresness and its simplified forms, which provide a new method for grey decision analysis.
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Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu
The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the…
Abstract
The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the international financial regime. It has prompted them to create a regional mechanism for financial and monetary cooperation, ranging from deeper policy dialogue and surveillance, to a system of financial cooperation, and common exchange rate arrangements. This paper analyses the economic and strategic motivations behind this and outlines recent developments in financial cooperation in East Asia to provide possible directions for the future.
A network of bilateral swap arrangements under the Chiang Mai Initiative(CMI) needs stronger policy dialogue and surveillance to develop into a regional financing facility, a sort of East Asian IMF. The facility plays a role as an regional lender of last resort, providing short-term funds to a member country facing a temporary liquidity shortage and for market intervention to stabilize foreign exchange rate. East Asian countries need to achieve regional exchange rate stability. In the long run, the region may develop a common currency arrangement, but it cannot be expected in the very near future because there is no convergence of macroeconomic conditions, economic structure and systems. A realistic approach would be for East Asian developing countries to adopt a currency basket system to minimize the impact of dollar/yen exchange rate volatility on their economies. Strong political will and a vision for regional integration will be required to introduce it.
Shanling Li and Ershi Qi
Most of the literature on just‐in‐time (JIT) production lines hasfocused on modelling the system into Markov‐chain. However, in practice,demands for products are known in a short…
Abstract
Most of the literature on just‐in‐time (JIT) production lines has focused on modelling the system into Markov‐chain. However, in practice, demands for products are known in a short planning horizon. Further, there is scarcity in the literature describing the dynamics and timing of material movements in JIT systems. Models a serial line into a discrete event dynamic system (DEDS) by a Max algebra approach incorporating the timing of material movements. Uses perturbation analysis to study the impact of parameter variation on the system performance. Compares the performances of push and pull systems using simulation analysis. The simulation results show that the pull system dominates the push system in lead time, in‐process inventories and stability of the production process.
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The objective of this study is to present a successful strategy to promote Korea as the logistics hub of Northeast Asia. Firstly, we introduce the necessity of a logistic hub…
Abstract
The objective of this study is to present a successful strategy to promote Korea as the logistics hub of Northeast Asia. Firstly, we introduce the necessity of a logistic hub strategy for Korea. In order to develop a successful strategy, we consider the 'free trade zone' model of the Netherlands and China. We develop a realistic and suitable model for Korea based on this Jree trade zone' model. Our proposal for a successful logistic hub strategy for Korea is the fulfillment of the following six objectives: 1) security of market accessibility, 2) improvement of the logistic system, 3) improvement of the education system, 4) improvement of the tax system, 5) assurance of labor market flexibility, and 6) development of an appealing living environment for foreigners.