Economic analyses on multinational real estate and construction sectors

Both the construction and real estate sectors have been considered vital productive drivers for the economic development of a nation. Multinational economic analyses on these two sectors over a long period enable a better comprehension of their effects and interrelationships. Based on the recently published Organisation for Economic Co-operation and Development (OECD) input-output database at constant prices, this paper compares the real estate and construction sectors of six countries in terms of their shares in gross national product and gross national income. The push and pull effects of these two sectors onto the whole economy are further determined using forward and backward linkage indicators respectively. In addition, the interactions between themselves are formulated in terms of direct and total input parameters. This research provides a numerical approach to examine the economic influences and sectorial correlation of the real estate and construction sectors.

Comparing Australias genuine progress to its economic growth performance

Australia has recorded consistently strong levels of economic growth in recent times. Under conventional considerations, the well-being experienced by Australians would also be considered to have increased in equal terms over this period. This is because aggregate standard national accounts have from their inception been assigned as proxy measures of well-being both within the economic literature and public debate. However, this approach fails to consider a number of important economic costs and non-welfaristic impacts on well-being associated with a growing economy. As a result, figures such as Gross Domestic Product (GDP) per capita over-estimate well-being. It is possible to adjust these estimates to overcome these limitations. Within this paper, the sustainable well-being of Australia will be reviewed by estimating a Genuine Progress Indicator (GPI) for the period 1986–2003. Policy implications following from this new analysis will also be discussed.

Education for the end of poverty : implementing all the millenium development goals

This collection of essays and case studies considers the importance of meeting the education MDG as part of worldwide poverty reduction.

Entrepreneurship and economic growth : why is New Zealand an outlier? A preliminary analysis

The literature indicates that entrepreneurship and economic growth are closely and positively associated. For four years running, New Zealand has had the developed world’s highest rate of “Total Entry-Level Entrepreneurial Activity” (Acs et al. 2005; Frederick et al. 2004; Reynolds et al., 2004), yet it has slid to the lower ranks in the OECD in measures of economic development. At its level of entrepreneurial activity, New Zealand should have a higher level of economic development if it were to emulate other countries.

We make use of the Global Entrepreneurship Monitor data set, including nascent entrepreneurship rates for 45 countries over the 2000-2004 period as well as variables from standardised national statistics.

The paper uses two approaches. This research first finds evidence for “U-shaped curve” associating entrepreneurship with economic growth. It notes that New Zealand has the greatest deviation from this association compared to other developed countries with similar entrepreneurial rates (e.g. United States, Australia and Iceland). The second approach looks at nascent entrepreneurship as a function of non-economic conditions such as technology, demography, culture and institutions.

This short paper develops the hypotheses and carries out the “U-shaped curve” test. For the time being it leaves the factor analysis of non-economic conditions for another opportunity.

The outlier phenomenon in entrepreneurship and economic growth : mollycoddling policies create New Zealand’s perfect storm

Analyzing GEM 2005 data, we confirm that entrepreneurship and economic development form a U-shaped curve. We seek to understand New Zealand’s large deviation from the modeled curve by factor-analyzing all countries’ deviations from the curve. We make recommendations that would move New Zealand toward the trend line and thus aid in increasing its level of economic development. Our findings indicate that measures that overprotect workers, spoil incentives, or indulge welfare passivity can stymie economic growth even in conditions of high entrepreneurial activity.

Existence of externalities from investment in higher education research and development

Research undertaken for this thesis supports the underlying claim that education does generate externalities. By examining the impact of higher education R&D on Australian state production, the results suggest that both pure and applied R&D have a statistically significant impact on Australia's regional economic performance.

A comprehensive analysis of foreign direct investment and economic growth

All three frameworks reveal a strong positive impact of FDI on economic growth. On average, economic growth appears to have been driven by FDI, human capital, domestic investment, openness to trade, and economic freedom. However, findings on the impact of growth on FDI are somewhat different across the three frameworks.

The end of economic growth? A contracting threshold hypothesis

This paper argues that GDP growth in both developed and developing countries has associated costs that can outweigh the benefits and thus reduce sustainable well-being. This conclusion is based upon the findings of empirical applications of the Genuine Progress Indicator (GPI) to a range of countries in the Asia-Pacific region. The studies conducted on seven Asia-Pacific countries indicate that, in the case of five of the seven nations, more recent GDP growth has reduced the sustainable well-being experienced by the average citizen residing within them. Moreover, the threshold point at which the costs of GDP growth outweigh the benefits appears to be contracting (i.e., occurring at a much lower per capita level of GDP). This paper therefore introduces a new contracting threshold hypothesis: as the economies of the Asia-Pacific region and the world collectively expand in a globalised economic environment, there is a contraction over time in the threshold level of per capita GDP. As a consequence, the threshold point confronting growth late-comers (i.e., developing countries) occurs at a much lower level of sustainable welfare than what wealthy nations currently enjoy. The consequences of this for developing countries are clearly significant and require a new approach to economic development.

Multi-market industrial organizational economic models for the internationalization process by small and medium enterprise construction design service firms

Small and medium enterprises (SMEs) are critical to strategic initiatives in an economy; however, their contribution to foreign trade is not as significant. SMEs are one of the principal driving forces in economic development. One of the greatest challenges is the internationalization process for longevity rather than seeing the process as initial market entry. The internationalization process research has typically involved four key constructs: market selection, decision to enter, entry modes and factors affecting entry modes. Past research has focused on large manufacturing firms. The export of architectural, engineering and construction (AEC) firms has undergone growth, yet there is still significant opportunity for further growth. The majority of AEC firms are SMEs. Notwithstanding assistance provided through international trade missions, organized export firm support networks and information packages by a burgeoning number of government agencies, there are still perceived barriers to market entry and long-term economic sustainability for SMEs. There are a number of problems faced by SMEs acting in foreign trade. This investigation explores the successful initial internationalization process constructs and identifies unique project-oriented sector characteristics. The study identified similarities and differences between two firms that have been exporting to various localities, including Eastern Europe, Africa, Middle East, UK, Asia and South America, for more than two decades. The similarities and differences were identified within eight major constructs: purpose, firm type, market image and design philosophy, entry mode strategy, institutional arrangement, factors affecting mode of entry, market selection and firm strategy in relation to project selection. The primary reasons for internationalization were associated with the firms' motivations related to growth and financial viability. This article discusses the various internationalization processes and strategies intrinsic to each case study and establishes a detailed set of empirical observations from which to develop further a grounded theoretical model of reflexive capability for the internationalization process. This study contributes to the body of knowledge around the SME AEC design service firm's internationalization process, as a dynamic, evolving and continuously adaptable construct for project-based sectors.

Economic accountability in the context of local governance in the Philippines : a structural equation modelling approach

This study posits that by virtue of the enabling role of local governments, the economic development of their locality must be at the core of their public accountability, which is referred to here as “economic accountability”. Grounded on this idea of accountability, along with enabling theory and institutional theory, the study presents empirical evidence supportive of the argument that the enabling role of local governments, as manifested in a capacity to establish or adhere to formal institutional arrangements, has a direct impact on the entrepreneurial strategic posture and performance of local small and medium enterprises (SMEs) which are key players in local economic development.The results of the structural equation modelling support the view that institutional arrangements as manifestations of the enabling role of city governments are positively associated with an entrepreneurial strategic posture of local firms, which consequently improves the firms’ overall economic performance. Therefore, SME development in particular, and local economic development in general, should be part of the economic accountability of local governments in the Philippine context of local governance.

Doing business in China : getting ready for the Asian century

Although this book has a specific focus on Australian firms doing business in China, the important and unique contribution this book makes will help you and anyone in an organization that is considering doing business in China. China maintains a high growth economy and is currently the second largest in the world. This book, which includes results from research interviews conducted with business executives from 40 organizations, will assist in preparing to do business in China. This book takes you through the various elements associated with doing business in China, including the opportunities that are available and the obstacles that organizations can face, supported by data from real businesses internationalizing to China. It examines key areas including the foreign direct investment and trade framework, Chinese culture, political and legal frameworks, intellectual property regulations, motivations for internationalization, market entry strategy, and human resource management issues.