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Much of the debate about development in the past decade pitted proponents of unfettered markets against advocates of developmental states. Yet, in many developing countries what best explains variations in economic performance is not markets or states but rather the character of relations between business and government. The studies in Business and the State in Developing Countries identify a range of close, collaborative relations between bureaucrats and capitalists that enhance elements of economic performance and defy conventional expectations that such relations lead ineluctably to rent-seeking, corruption, and collusion. All based on extensive field research, the essays contrast collaborative and collusive relations in a wide range of developing countries, mostly in Latin America and Asia, and isolate the conditions under which collaboration is most likely to emerge and survive. The contributors highlight the crucial roles played by capable bureaucracies and strong business associations.
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
This book focuses on the challenges and opportunities facing companies in emerging and developing countries. China and India have become the primary business destination for many global companies that are looking for market opportunities and low costs of production, whilst Morocco, Dubai, Brazil, Malaysia and Russia are also being targeted. This new edited volume helps develop a better understanding of the realities of doing business in emerging and developing countries, in particular exploring the dynamics between corporations – both indigenous and multinational – and local pressures in developing, transitional and emerging economies. The book points out the benefits and pitfalls of doing business in emerging and developing countries, as well as the adjustments that are necessary for success. It also discusses entrepreneurship in emerging and developing countries, exploring its new realities from women’s entrepreneurship in Muslim countries to social entrepreneurship in developing countries. The volume also points out the new challenges for SMEs of emerging and developing countries in a global competitive environment. Finally, it analyses corporate governance from a local partner perspective and an institutional perspective. Building Businesses in Emerging and Developing Countries will be of interest to business managers, students and researchers involved in international entrepreneurship and corporate governance.
This book investigates how global business cycles impact the economies of developing countries. Global business cycles, the wave-like movements of economic expansion followed by contraction in aggregate economic activities, impact all economies comprising the global economy. The patterns being shown in developing countries correspond increasingly to those in the global north, and yet there is a relative dearth of studies exploring whether global business cycles exist and how they operate in developing economies. This book explores how cycles operate at the global and sub-global developing country levels, with a particular focus on the level of development and the structure of the economies. Drawing an important distinction between cycles and fluctuations, the book criticises mainstream conceptualisation and identification of cycle phenomena, and instead proposes an alternative conception and methodology for the identification of cycles. Along the way, the book also delves into the manufacturing and rise of China, and other potential competitors in the industrial arena, as increasingly important drivers of global cycles and global economic growth. This book will be an important read for researchers and upper-level students of development economics and international political economy.
Business is increasingly being called upon to demonstrate 'what more' it does for society. In a climate in which companies are frequently painted as social outlaws who need fundamentally to change their ways, this determined if ill-founded attack has been met for the most part by appeasement in corporate circles. This acquiescence has given rise to the burgeoning 'corporate social responsibility' industry. Why is business going along with this? The current conversation about business and society is dominated by the perspectives and interests of those who live in rich western countries. Many activists, analysts and others do not grasp the realities of poverty and the hard choices of development outside the industrialised world. As a result, the debate about business, 'responsibility' and corporate involvement in development is distorted, with few voices from developing countries being heard and the positive contribution of 'just doing business' almost completely unacknowledged. In this book, Ann Bernstein argues that a new approach and a new discourse are required to cut through an increasingly flawed conversation with potentially dangerous consequences for the poor and for developing countries in particular. Informed by many years of living, working, and championing the role of business in growth and development in a middle-income developing country, Bernstein urges business not to let the attacks stand unchallenged. It must find the confidence and strategic vision to stop apologising, develop its own public agenda, and start propagating the phenomenal benefits of competitive capitalism for the less developed countries of the world.
A Harvard Business School professor and international entrepreneur explains the crucial ingredient for success in the developing world. Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries the developed world has built up customs and institutions like enforceable contracts, an impartial legal system, credible regulatory bodies, even unofficial but respected sources of information like Yelp or Consumer Reports that have created a high level of what scholar and entrepreneur Tarun Khanna calls “ambient trust.” If a product is FDA-approved we feel confident it’s safe. If someone makes an untrue claim or breaks an agreement we can sue. Police don’t demand bribes to do their jobs. Certainly there are exceptions, but when brought to light they provoke a scandal, not a shrug. This is not the case in the developing world. But rather than become casualties of mistrust, Khanna shows that smart entrepreneurs adopt the mindset that, like it or not, it’s up to them to weave their own independent web of trust—with their employees, partners, clients, and customers—and with society as a whole. This can requires innovative approaches in places where the level of societal mistrust is so high that, as in one example Khanna provides, an official certification of quality simply arouses suspicion—and lowers sales! Using vivid examples from Brazil, China, India, Mexico and elsewhere, Khanna shows how entrepreneurs can build on existing customs and practices instead of trying to push against them. He highlights the role new technologies can play (but cautions that these are not panaceas), and explains how entrepreneurs can find dependable partners in national and local governments to create impact at scale
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
There are substantial opportunities and risks in establishing a successful business in developing countries. Financial and economic risks of doing business with developing countries, manifested in World Debt Crisis, require careful examination before a business venture is attempted. The book provides thorough historical information about LDCs' economies and causes of their indebtedness. The most recent data regarding economic performance, indebtedness, and infrastructure, of LDCs are presented as well. The book should prove useful to those considering business in developing countries and to scholars studying economic development and international business and finance. Written without an extensive use of sophisticated models and jargon, the book is accessible to both academic and nonacademic readers. The book consists of four parts. The first part focuses on defining LDCs and analyzing their stages of economic development. The second part presents two background chapters to aid the reader to put LDCs into an economic and historical context. Part III examines the World Debt Crisis and its effects on developing countries and implications for business in these countries. The final part of the book develops a strategic planning model to assist businesses in deciding whether to do business in indebted LDCs and once the decision is made to guide implementation of business plans. Infrastructure is critical to the success of prospective business enterprise. An appendix presents the most recent and detailed information about infrastructure in LDCs along with an index developed to serve as a quantitative guide to the availability of infrastructure. The book also contains appendices that present detailed data on relevant financial and economic variables in developing countries and an annotated bibliography.
Nobel-Prize-winning economist Paul Krugman argues that business leaders need to understand the differences between economic policy on the national and international scale and business strategy on the organizational scale. Economists deal with the closed system of a national economy, whereas executives live in the open-system world of business. Moreover, economists know that an economy must be run on the basis of general principles, but businesspeople are forever in search of the particular brilliant strategy. Krugman's article serves to elucidate the world of economics for businesspeople who are so close to it and yet are continually frustrated by what they see. Since 1922, Harvard Business Review has been a leading source of breakthrough management ideas-many of which still speak to and influence us today. The Harvard Business Review Classics series now offers readers the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world-and will have a direct impact on you today and for years to come.
The contributors to this volume challenge the assumptions of classical business economics about the universal nature of the firm. They show how the embeddedness of firms in the larger societal context of nations impacts on their ability to adjust to the current forms of international competition. The key theoretical approach highlighted in this book is the concept of a "business system" as defined by Richard Whitley and his associates. This book begins with an elaboration of this approach in a paper by Richard Whitley. The remaining papers critically assess this approach, both theoretically and empirically.