... 2.5 Rate of interest 3. Foreign Capital 3.1 Comparative Trade Advantage 3.2 Trade Deficit 4. Long Run Factors affecting Economy 4.1 Politics 4.2 Education 4.3 Corruption 4.4 Population 4.5 Health 5. Monetary Policy and Inflation 5.1 Exchange Rates 5.2 Inflation 6. Labour Market and Unemployment 7. Conclusion 8. Bibliography 1. Background Portugal joined European Union in 1986 and the euro zone in 2002. It is a developed country and has a very high human development index with the current world ranking of 41. Human Development Index is a composite statistic used to rank countries by level of “human development” measured in terms life expectancy, literacy, education, and standards of living in a country. However, in 2011, the country was hit by a sovereign debt crisis and is now under the bailout programme via the European Union – International Monetary Bailout Fund. As the country is under euro debt, the market pressure will continue to keep the state volatile. 2. Measuring Economic Activity 2.1 GDP Exhibit 2.0 Portugal using euro as of 1 January 2002, accompanied by another 11 other European Union nations. Since it started using euro, Portugal’s economy has grown at an annual average rate of 1%, compared...
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...Eur J Population (2007) 23:1–31 DOI 10.1007/s10680-006-9110-6 Population and labour force projections for 27 European countries, 2002–2052: impact of international migration on population ageing Projections de population et de population active pour 27 pays europeens ´ 2002–2052: impact de la migration internationale sur le vieillissement de la population Jakub Bijak Æ Dorota Kupiszewska Æ Marek Kupiszewski Æ Katarzyna Saczuk Æ Anna Kicinger Received: 8 August 2005 / Accepted: 31 March 2006 / Published online: 2 March 2007 Ó Springer Science+Business Media B.V. 2007 Abstract Population and labour force projections are made for 27 selected European countries for 2002–2052, focussing on the impact of international migration on population and labour force dynamics. Starting from single scenarios for fertility, mortality and economic activity, three sets of assumptions are explored regarding migration flows, taking into account probable policy developments in Europe following the enlargement of the EU. In addition to age structures, various support ratio indicators are analysed. The results indicate that plausible immigration cannot offset the negative effects of population and labour force ageing. Keywords Population projections Æ Labour force projections Æ International migration Æ Population ageing Æ Europe ´ ´ Resume Des projections de population et de population active sont presentees ´ ´ ´ ´ ´ ˆ pour 27 pays Europeens pour la periode 2002–2052, avec un interet particulier...
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...Question 1.1: Explain how a change in the demand or supply affects the equilibrium price and quantity in any market. What is “demand”? Demand is the outcome of decisions about which wants to satisfy, given the available means. If you demand something (in the economic sense), it means that you intend to buy it and that you have the means (the purchasing power) to do so. In simple terms, when we talk about demand we are referring to the quantities of goods or services that the potential buyers are willing and able to buy. The law of demand states that if all other factors remain equal, the higher the price of a good, the less people will demand that good. Simply, the higher the price, the lower the quantity demand. Chart 1 above was downloaded from “www.investopedia.com/university/economics/economics3.asp” Point A,B,C clearly shows a negative demand relationship. As the price increases, the lower the quantity demanded. What is “supply”? Mohr et al (197:2004) defines supply “as the quantities of a good or service that producers plan to sell for a possible price during a certain period.” Producers must be able to supply the quantities concerned although there is no guarantee that the quantity supplied will be actually sold. The quantity sold will depend on the demand for the product or service. The greater the demand, the greater the quantity sold. Chart 2 above was downloaded from “www.investopedia.com/university/economics/economics3.asp” Points A,B,C clearly...
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...Harvard Business School 9-799-131 May 4, 2001 European Monetary Union In the spring of 1999, Romano Prodi, newly designated chairman of the European Commission, prepared to help create an economically integrated Europe. Since the introduction of the euro on January 1, Europe had been operating with a single currency—at least for business-tobusiness transactions. Despite some technical problems with the changeover and an 8% depreciation of the euro against the dollar, this extraordinary step toward integration had gone fantastically well. Western Europe continued to experience healthy growth—in excess of 2% annually—and the Commission was expanding its plans to further integrate Europe’s markets. But before real integration could be achieved, many more reforms would be needed. While the Commission recently concluded that “thanks to the Single Market Programme, today’s European 2 product markets work much better than they did in the 1970s,” they still exhibited wide price differentials, diverse regulations, and a lack of inter-European investment and competition. Capital markets had moved further, as members of the European Union had dropped regulations and encouraged competition across national borders. But even here, prices and margins remained high, and inter-European rationalization had only just begun. Finally, the markets for labor had barely begun to integrate. Here, high minimum wages, payroll taxes, unemployment benefits and diverse restrictions on flexibility...
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...A stylized fact of global upward trend in domestic-world output ratio for major small open economies is recognized in comparison with Australia’s dichotomous experience with the ratio. This fact is used to shed light on the importance of country-specific shocks for small open economies using a simple real business cycle model. While it has been previously found that country-specific shocks are more significant source of business cycle fluctuations than worldwide shocks for Australia before the 1990s, this article suggests that the country-specific shocks may have become an important driver of output growth only in the early 1990s for Australia. Keywords: worldwide shocks; country-specific shocks; international business cycle; half-life JEL Classification: E32; C32; F43 I. Introduction There has been a growing literature that seeks to extend standard closed economy Real Business Cycle (RBC) models to the open economy with the objective of explaining key features of international business cycles (Mendoza, 1991; Backus and Kehoe, 1992; Backus et al., 1992, 1995; Baxter and Crucini, 1993, 1995; Ravn, 1997). These authors have achieved some success in accounting for a number of anomalies that closed economy models fail to elucidate. Subsequent studies in this literature have emerged and brought interesting findings on international business cycle. One such discovery was on a variety of factors that affect the dynamics of business cycle fluctuations. For instance, multiple previous...
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...Comparative Country Studies Country Factbook Comparing the IT industries of Ireland and Portugal Instructor: Mr. Ritsema Date: 12.03.2015 Group 2.03 Niklas Binter S2555611 Josef Richarz S2535688 Table of Content: 1. Introduction 2. Methodology 2.1 Prime Theories and Approaches 3.2.1 Hofstede´s model of national culture 3.2.2 Porter´s diamond 3.2.3 Porter´s five forces of competition 3.2.4 The PESTEL framework 3.2.5 National Innovation Systems 3.2.6 Varieties of Capitalism Framework 2.2 Data Collection 3. The IT Industry 3.1. Description of the IT-Industry 4. Country Comparison 4.1 Macro- Level Indicators 4.1.1 Geographic Indicators 4.1.2 Demographic Indicators 4.1.3 Macro- Economic Indicators 4.2 Historical Developments relevant to the IT industry 4.3 Socio Cultural Conditions 4.3.1 Cultural Systems 4.3.2 Level of Education 4.3.3 Labor Market Regulations 4.3.4 Protectionism of Intellectual Property 4.3.5 Tax Regulations 4.4 Market/ Industry Conditions 4.4.1 Bargaining Power of Buyers and Subsidiaries 4.4.2 Bargaining Power of Suppliers 4.4.3 Threats of New Entrants 4.4.4 Competitive Rivalry 4.5 Other Contextual Conditions 4.5.1 Related and Supporting Industries 5. Major Findings of Comparison 5.1 Conclusion 5.2 Trends 5.3 Recommendation 1. Introduction In general, factbooks are conducted by...
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...auditing, tax and labour rules/requirements that regulate businesses in Pakistan. However, if we have achieved our goal, contributing, by this way, to business development in Pakistan, we will be very satisfied. The booklet is designed to give some general information to those contemplating doing business in Pakistan, and is not intended to be a comprehensive document. Furthermore, its updating process is annual. Therefore, the users should consult us before taking any decision on the basis of information contains in this booklet. TABLE OF CONTENT FOREWORD 1 ABOUT HLB INTERNATIONAL 2 1. ISLAMIC REPUBLIC OF PAKISTAN 3 1.1 LOCATION 3 1.2 POPULATION DEMOGRAPHICS 3 1.3 INTERNATIONAL TIME 4 1.4 CLIMATE 4 1.5 LANGUAGE 4 1.6 CURRENCY 4 1.7 THE CONSTITUTION AND LEGAL SYSTEM 5 1.8 HIGHLIGHTS OF THE ECONOMY 5 1.9 ECONOMIC ARRANGEMNETS 7 1.9.1 List of Countries/Organizations with which Pakistan has Bilateral Investment Agreements 7 1.9.2 Pakistan and the Non-Aligned Movement (N.A.M.) 8 1.9.3 Pakistan and the Economic Co-operation Organization (ECO) 8 1.9.4 Pakistan and the D-8 9 1.9.5 Pakistan and the South Asian Association for Regional Cooperation (SAARC) 9 2. INVESTMENT FACTORS 10 2.1 FIVE REASONS TO INVEST IN PAKISTAN (AMONG MANY OTHERS!!) 10 2.2 INVESTMENT OPPORTUNIITEIS 11 2.3 TAX BENEFITS 12 2.4 SOURCES OF FINANCE 13 2.4.1 Banks 13 2.4.2 Non Banking Finance Companies (NBFCs) 13 2.4.3 Public offers through stock exchanges 14 2.5...
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...specialised or ‘key’ factors and non-key or general use factors. Skilled human resource, infrastructure and capital resources are the key factors which significantly cause businesses to gain competitive advantage in a particular industry. Moreover, knowledge resources, raw material, unskilled labour force are the non-key factors. Last reported number of total labour force in Chile is 8,037,177 (Trading economies (2013). Nevertheless, skills, abilities and cost of the labour force are factors which significantly affect to development of competitive advantage (REF). Education systems in Chile are not stronger as other developed countries in the world. Nevertheless, it has achieved major improvements in recent years due to the improvements of government funding (4.2% from GDP). Word bank figures (2012) indicate that 49.1% of Chilean labour force is with secondary education and 25.2% are with tertiary education. Moreover, literacy level of aged between 15-24 years olds has increased to 99% (UNISEF, 2013). Chile can be identified as a high income country (World Bank, 2013) and its labour costs of Chile ranks XX which is fairly higher than the other countries in the region. In addition, unemployment rate is 5.7%. Level of infrastructure is strong in Chile is vital to development of Chilean wine industry. World Bank indicators (2013) demonstrate strong railway (, air transport (97433 registered carrier departures) and road systems ( in Chile. Moreover, access to fresh water is raked in XX...
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...exports of leather and leather products gained momentum during the past two decades. There has been a phenomenal growth in exports from Rs.320 million in the year 1965-66 to Rs.69558 million in 1996-97. Indian leather industry today has attained well merited recognition in international markets besides occupying a prominent place among the top seven foreign exchange earners of the country. The leather industry has undergone a dramatic transformation from a mere exporter of raw materials in the sixties to that of value added finished products in the nineties. Policy initiatives taken by the Government of India since 1973 have been instrumental to such a transformation. In the wake of globalisation of Indian economy supported with liberalised economic and trade policies since 1991, the industry is poised for further growth to achieve greater share in the global trade. Apart from a significant foreign exchange earner, leather industry has tremendous potential for employment generation. Direct and indirect employment of the industry is around 2 million. The skilled and semi-skilled workers constitute nearly 50% of the total work force. The estimated employment in different sectors of leather industry is as follows: Sector Total Employment Flaying, curing & Carcass Recovery 8,00,000 Tanning & Finishing 1,25,000 Full Shoe 1,75,000 Shoe Uppers 75,000 Chappals & Sandals 4,50,000 Leather Goods & Garments 1,50,000 Structure of the...
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...used to describe the member states that use the EU’s single currency, the Euro. The idea of creating a single currency for the European Community was first mentioned in the 1970 Werner report, which led to the establishing of the European Monetary System (EMS), the forerunner of the Economic and Monetary Union (EMU). The Maastricht Treaty (1992) made EMU a part of EU law and set out a plan to introduce the single currency (the Euro) by 1999. The Maastricht Treaty also established certain budgetary and monetary rules for countries wishing to join the EMU (known as the convergence criteria). In 1998, 11 member states (Germany, France, Italy, Belgium, Luxembourg, the Netherlands, Spain, Portugal, Ireland, Austria and Finland) undertook the final stage of EMU when they adopted a single exchange rate, which was set by the European Central Bank (Britain, Sweden and Denmark negotiated an opt-out from this final states of EMU). The new Euro notes and coins were launched on 1 January 2002. There are currently 16 EU states in the Eurozone. Greece joined the initial 11 members in 2001, Slovenia joined in 2007, Cyprus and Malta in 2008, and Slovakia joined in 2009. Estonia is due to join the Eurozone in 2011. All future members of the EU must adopt the Euro when they fulfil the convergence criteria. Economic and Monetary Union (EMU) Step 1: a country loses a degree of economic sovereignty when it enters a trade bloc or single market as a necessary step towards being part of an EMU. Stage...
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...1.0 Introduction Free trade is the unrestricted purchase or exchange of good and services between countries without imposition of constraints such as quotas, tariffs and duties (Kent, 2004). It is a win-win situation as free trade enables a country to emphasis on their core competitive advantages which can boost up income growth, at the same time maximizing economic output. In other words, free trade allows a country to specialize on certain product that they has the distinctive comparative advantage (Herrmann, 2000). On the other hand, it usually benefits the developed countries whose most of the big firms are looking to sell and expand their goods or services abroad due to it is a great opportunity for them to open up an international market. In fact, Malaysia is an actively pursuing free trade agreements with numerous countries, therefore, free trade might bring some positive and negative impact for Malaysia (Esther, 2014). Free trade benefits Malaysia such as enhance product quality and production efficiency, wider consumer choice lead to increases in standard of living and also reduction in unemployed resources. However, free trade will also cause some issues for Malaysia involved local firms unable to compete with foreign market, reduction job opportunity, environmental damaged and free trade may encourage dumping (Edge, 2010). 2.0 Advantages of Free Trade 2.1 Raise Competition and Lead to Improve in Product Quality Nowadays, many people are willing to purchase...
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...July 2011 European growth and renewal: The path from crisis to recovery The McKinsey Global Institute The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, was established in 1990 to develop a deeper understanding of the evolving global economy. Our goal is to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports have covered more than 20 countries and 30 industries. Current research focuses on four themes: productivity and growth; the evolution of global financial markets; the economic impact of technology and innovation; and urbanization. Recent reports have assessed job creation, resource productivity, cities of the future, and the impact of the Internet. MGI is led by three McKinsey & Company directors: Richard Dobbs, James Manyika, and Charles Roxburgh. Susan Lund serves as director of research. Project teams are led by a group of senior fellows and include consultants from McKinsey’s offices around the world. These teams draw on McKinsey’s global network of partners and industry...
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...International Business- Dr. R. Chandran 1. International Business: Meaning And Scope Interdependency is a natural phenomenon; nations, living beings and companies cannot totally depend on themselves. It is the major driving force for international business. Learning value: This chapter covers the essential aspects, 1. 2. 3. 4. 5. Definition of international business Emergence of developing nations in international business Motives of international business from companies and nations Fundamental differences between Domestic and International business Few successful organizations in Domestic & International business International business: Meaning and Scope In the post independence era, more than half-century Indian entrepreneurs concentrated on domestic operations and a surplus production was exported. The physical movement of goods, called EXPORT cannot represent International business. International business is defined as “any commercial transaction-taking place across the boundary lines of a sovereign entity”. It may take place either between countries or companies or both. Private companies involve themselves in such transactions for revenue, profit and prosperity. If governments are involved, they need to maintain their image, dependency and economic growth. Sometimes economic ties are strengthened through such transactions. These transactions include investments, physical movements of goods and services, transfer of technology and manufacturing. Today every company...
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...Chapter 1: History Richard Baldwin Graduate Institute, Geneva 1 © 2009, Baldwin&Wyplosz, Economics of European Integration, 3rd Edition Early Post War Period • A Climate for Radical Change: – Facts: Death toll The Economic Set-Back: Prewar year when GDP equalled that of 1945 1886 1924 1936 1938 1891 1908 1909 1912 1937 GDP grew during WWII GDP grew during WWII GDP grew during WWII Austria Belgium Denmark Finland France Germany Italy Netherlands Norway Sweden Switzerland UK 525,000 82,750 4,250 79,000 505,750 6,363,000 355,500 250,000 10,250 0 0 325,000 • – Images: 2 Understanding the climate for radical change • Difficult – but essential – to understand how different Europe was in 1940s. 3 © 2009, Baldwin&Wyplosz, Economics of European Integration, 3rd Edition Rome 1944 London 1940 East London, 1940 4 © 2009, Baldwin&Wyplosz, Economics of European Integration, 3rd Edition Rotterdam, 1940 Coutances France, 1944 Ortana Italy, 1943 5 © 2009, Baldwin&Wyplosz, Economics of European Integration, 3rd Edition Reichstag, 1945 Frankfurter Allee, 1945 Belgium 1940 Warsaw 1944 6 © 2009, Baldwin&Wyplosz, Economics of European Integration, 3rd Edition Dec.‟45, Parisians queue outside bakery before the reinstatement of bread rationing 1 January 1946. Jan.‟46, UN Relief & Rehabilitation Admin handouts in Belgium. In 1946, France asks the US for material and financial aid to revive its economy. 7 ...
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... 2.1 Political 5 2.2 Economical 5 2.3 Social 5 2.4Technological 6 3. The 3 V’s Business Model 6 3.1 Valued Customers – Who to serve ? 6 3.2 Value Proposition – What to offer? 6 3.3 Value Network – How to deliver? 7 4. Marketing Mix 7 4.1 Product 7 4.2 Price 9 4.3 Promotion 10 4.4 Place 11 5. Brand Positioning 13 6. The Porter Five Forces 14 7. The Value Chain 15 8. SWOT Analysis 16 CONCLUSION 18 INTRODUCTION Caroll Paris is a French ‘fashion house’ created in 1963 by Raphael Levy and Joseph Bigio. Originally the French brand was called "Les Tricots Caroll". The brand was first known for knitwear, more precisely for Shetland woolens. Then the brand expanded its range to offer entire women’s ready to wear collections. In 1986, the brand Caroll joined the group André; now known as Vivarte since 2001. This Group owns several brands such as André, La Halle aux Chaussures, Kookaï, Liberto, Minelli… In 1994 the brand changed its name to "Caroll Paris", it opens up franchises all over France and was launch on the market stock exchange. The challenge was to become a major player in the ready to wear market. In the same time, the brand changed its positioning to become a dynamic brand that offers fashion products. Today, Caroll has more than 400 stores in France and expand itself abroad since 1997. We will see in this study that, according to the Ansoff Matrix, a market development is the best strategy for...
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