The growing success of efforts to contain the spread of Covid-19, the disease caused by the virus, may present yet another hurdle – How to end lockdown without causing a second wave? There is no modern analog for the shutdown of economic activity. Ending the lockdown needs unparalleled capabilities in testing, tracing and most importantly it needs researchers to deliver a new vaccine!
This paper makes the case for low and middle-income countries (LMIC) to be part of the clinical evaluation of the efficacy and safety of the COVID-19 future vaccine, the ramping up of regional manufacturing capabilities for local immunization and underscores the critical importance of reaching an advanced purchase agreement with manufacturers and suppliers as well as building up multilateral financial partnerships with key institutions before even a vaccine is made available in either North America, Asia and/or Europe.
The survival and success of a company internationally is dependent on a multitude of factors, such as their financial resources, past experience, and familiarity with their own domestic market in order to achieve this international presence. However, certain firms called ‘born global’ firms have been able to establish international operations despite not possessing the resources or experience. According to Knight and Cavusgil (2004), Born global firms (BGs) are companies that begin international operations either at or soon after their establishment, with a notable part of their revenue generated from their activities in foreign markets.
Apart from early internationalization, BGs are characterized by their small size, limited resources, lack of prior experience in the domestic and international markets, and limited knowledge. These characteristics serve to differentiate them from large multinational enterprises, domestic firms, and small and medium-sized enterprises that follow a more gradual internationalization path.
My research aims to explore and compare technological platforms in the South Korean automotive, electronics and service robotics industries to extend our understanding of why and how organisations build and use different types of technological platforms.
A technological platform is a modular architecture consisting of core components and peripheral components. The core components provide a foundation for peripheral components to be developed. For example, Apple’s iPhone is a core, and it gives a basis for application development which is a periphery. Therefore, technological platforms connect companies who can innovate and compete by developing core components as well as peripheral components.
Vocational education is an important and well-established alternative to academic education. In most countries, the number of vocational graduates is now on par with that of academic graduates. In the case of China, there are approximately 11 million students graduating with vocational education qualifications annually, only slightly less than the around 12 million academic graduates per year.
Figure 1. The density of secondary vocational schools in China (More details in the paper)
Recent research by the European Investment Bank indicates that workers in Europe spend less than 0.5% of their working time on training. This figure seems too low and indeed economics has long predicted some degree of under-provision of training. First, training is expensive for firms, as it entails significant direct and indirect costs. Second, employers know they will lose their investments in training if employees subsequently leave.
Public policy may play a role in alleviating the market failure that leads to such under-provision of training. The new working paper featured in this blog (‘Employee training and firm performance’) contributes empirical evidence to this question. The research evaluates the effects of a €200-million EU training grants scheme on different dimensions of firms.
Terrorism is a complex phenomenon and it has deteriorating effects on the global economy. Since 2002, the world has witnessed a rise in all forms of terrorism. The economic disruptions caused by violent attacks and the fear of terrorism are massive. The global economic impact of terrorism amounted to USD33 billion in 2018 in constant PPP terms. Fear of terrorism influences economic behaviour and changes investment climate of the affected region (Global Terrorism Index, 2019). The direct costs of terrorism include deaths, injuries, GDP losses, property damage for the countries in conflicted zones. However, there are many indirect costs involved as well such as decline in tourism, financial markets, trade, foreign direct investment and entrepreneurship (Tingbani et al., 2018).
According to Global Terrorism Index 2019, South Asia, MENA and Sub-Saharan Africa are the most impacted regions which accounted for 93% of all deaths from terrorism. These regions also had most lethal attacks, averaging 1.95, 2.67 and 4.11 people killed per attack respectively.
On the 4th of December, 2019, the Centre for Globalisation Research (CGR) hosted their annual Workshop on Political Economy and Economic Development and the Globalisation Seminar. The event attracted QMUL staff, researchers from other UK universities and PhD students. Caterina Gennaioli (CGR Director, SBM), Pierre-Louis Vézina (King’s College), Carlo Schwarz (Warwick University) and Andrea Tesei (SEF QMUL), presented at the Workshop their most recent empirical work. The presentations covered a broad range of topics.