Realizing Economic Diversification from Diverse Economic Perspectives

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Economics and Finance".

Deadline for manuscript submissions: closed (30 March 2024) | Viewed by 3984

Special Issue Editors


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Guest Editor
Department of Economics and Finance, The Business School, RMIT Vietnam, 702 Nguyen Van Linh, District 7, Ho Chi Minh City 700000, Vietnam
Interests: development economics; international trade and finance; financial economics; investment analysis
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Guest Editor
Department of Global Business & Economics, Changwon National University, Changwon 51-140, Republic of Korea
Interests: development economics; economic growth; tourism economics; public economics; environmental and ecological economics
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

We are delighted to announce our guest editorship for a Special Issue on "Realizing Economic Diversification from Diverse Economic Perspectives" in the Journal of Risk and Financial Management. Given the current times of economic turbulence, high inflation, and rapid technological advancement, every economy is facing the need to search for the best economic strategy to either remain resilient or become resilient to various social, economic, ecological, and geo-political shocks.

In this context, we believe that there has never been a better time to revisit, review, and examine diverse theories of economic development, and invoke various economic paradigms and alternative theories, to identify plausible sources of economic growth that are relevant for the current generation, as well as for generations to come. Therefore, we invite researchers, academics, and practitioners to submit well-developed papers on economic growth, economic development, the role and meaning of economic diversification, and clear policy-based studies that will inform economic management at macro- and micro-levels.

We encourage manuscripts that are either theoretical, empirical, or a combination of both. Specifically, we seek studies that appreciate diverse economic perspectives, are novel, and present studies that are useful and carefully aligned to specific markets, sectors, industries, countries, or regions, with an overarching aim to inform scholars, researchers, policymakers, and economic planners on various paths to economic diversification.

We look forward to receiving your submissions and to a fruitful exchange of ideas.

Dr. Ronald Ravinesh Kumar
Prof. Dr. Peter Josef Stauvermann
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • economic diversification
  • economic development and policy
  • diverse economic perspectives theoretical economics
  • empirical economics
  • financial markets and institutions
  • country-specific
  • sector-specific
  • regional studies

Published Papers (3 papers)

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Research

19 pages, 687 KiB  
Article
Role of Remittance on Sustainable Economic Development in Developing and Emerging Economies: New Insights from Panel Cross-Sectional Augmented Autoregressive Distributed Lag Approach
by Shasnil Avinesh Chand and Baljeet Singh
J. Risk Financial Manag. 2024, 17(4), 153; https://doi.org/10.3390/jrfm17040153 - 11 Apr 2024
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Abstract
In this study, we aim to investigate the effects of remittance on sustainable economic development in 52 developing and emerging economies from 1996 to 2021. The study uses other variables such as real GDP per capita, total natural resource rents, globalization, and foreign [...] Read more.
In this study, we aim to investigate the effects of remittance on sustainable economic development in 52 developing and emerging economies from 1996 to 2021. The study uses other variables such as real GDP per capita, total natural resource rents, globalization, and foreign direct investment. To achieve the mentioned objective, we apply a series of second-generation panel estimation approaches. These include CIPS unit root, Westerlund cointegration, cross-sectional augmented autoregressive distributed lag (CS-ARDL), and robustness using augmented mean group (AMG) and common correlated mean group (CCEMG). These methods are useful provided they are robust towards cross-country dependencies, slope heterogeneity, endogeneity, and serial correlation, which are disregarded in the conventional panel estimations. The empirical findings indicate that remittance accelerates sustainable economic development. Additionally, real GDP per capita and globalization also positively contribute towards sustainable economic development. However, total resource rents deteriorate sustainable economic development. This study offers key policy implications based on the empirical findings for the developing and emerging economies. Full article
(This article belongs to the Special Issue Realizing Economic Diversification from Diverse Economic Perspectives)
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39 pages, 6633 KiB  
Article
Preferential Regime of the Russian Arctic: Tendencies and First Results from Realization of the World’s Largest Special Economic Zone
by Alexander D. Volkov, Natalia A. Roslyakova, Anastasia V. Vasilieva, Alexander O. Averyanov, Sergey V. Tishkov and Ekaterina V. Nalivaychenko
J. Risk Financial Manag. 2024, 17(1), 28; https://doi.org/10.3390/jrfm17010028 - 11 Jan 2024
Viewed by 1339
Abstract
The preferential regime of the Arctic Zone of the Russian Federation is the latest regulatory mechanism designed to overcome negative socio-economic trends in the macroregion. The accumulated factual data over the three-year period of this work have made it possible to make the [...] Read more.
The preferential regime of the Arctic Zone of the Russian Federation is the latest regulatory mechanism designed to overcome negative socio-economic trends in the macroregion. The accumulated factual data over the three-year period of this work have made it possible to make the first reasonable estimates of its effects on the regional economy. The purpose of this study is to investigate the presence of transformational changes in the relationship between employment and investment due to the introduction of the preferential regime for key sectors in the regions that are fully or partially included in the Russian Arctic. The relationship between investment and employment in regional industries was studied using least squares regression analysis using Advanced Grapher 2.2 software. The results show, firstly, significant differences in trends in the implementation of preferential treatment: increased economic specialization of some regions and diversification of the economies of other regions. Secondly, there is a slowdown in the emergence of new projects. Thirdly, the markedly different employment effects across industries and regions of the Russian Arctic, as well as the changing nature of the relationship between investment and employment, require a significant revision of regulatory measures and economic policies to maximize regime effects and achieve sustainable long-term regional development. Full article
(This article belongs to the Special Issue Realizing Economic Diversification from Diverse Economic Perspectives)
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26 pages, 4699 KiB  
Article
International Borrowing and Lending in the Presence of Oligopolistic Competition
by Ronald Ravinesh Kumar and Peter J. Stauvermann
J. Risk Financial Manag. 2023, 16(8), 357; https://doi.org/10.3390/jrfm16080357 - 28 Jul 2023
Viewed by 1159
Abstract
This paper examines the implications of imperfect competition in a two-country framework where a single good is produced. Using an overlapping generation model, we analyze the effects of market structures. Specifically, one country is assumed to operate under a perfectly competitive market structure, [...] Read more.
This paper examines the implications of imperfect competition in a two-country framework where a single good is produced. Using an overlapping generation model, we analyze the effects of market structures. Specifically, one country is assumed to operate under a perfectly competitive market structure, while the other country operates under an oligopolistic market structure. Our analysis reveals that the differences in factor prices between the two countries when they are in autarky lead to intergenerational trade once their capital markets are integrated. A key finding is that the country with an oligopolistic market structure becomes a lending country, while the country with a competitive market structure becomes a borrowing country. Furthermore, we find that the country with an oligopolistic market structure, serving as a lender, experiences a current account surplus, while the country with a perfectly competitive market structure, acting as a debtor, incurs a current account deficit. Full article
(This article belongs to the Special Issue Realizing Economic Diversification from Diverse Economic Perspectives)
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