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This paper presents an analytical overview of the effects of inflation on government revenues, expenditure and fiscal positions. Evidence for a range of countries from the current inflation episode and that of the 1980s is compared and contrasted. The key finding is that high inflation initially boosts tax revenues and improves fiscal positions, but expenditure quickly catches up and offsets this improvement. The short-term boost is partly due to structural changes that have made modern tax systems more elastic with respect to inflation. The medium-turn deterioration reflects a shifttoward spending items more responsive to inflation. The key risk is that the impression of abundant tax revenues will lead to spending programmes or tax cuts that damage public finances in the long term. As research on inflation and public finances has been dormant since the 1980s, this analysis fills a gap in our understanding of the fiscal consequences of inflation.

This paper aims to perform a large-scale meta-analysis to examine the relationship between ownership concentration and firm performance in emerging economies of Central and Eastern Europe and the former Soviet Union. A meta-synthesis of 1517 estimates collected from 69 previous studies indicated the presence of a statistically significant and positive effect of ownership concentration on firm performance. The synthesized effect size, however, is only modest at best. A meta-regression analysis conducted to identify the factors underlying the small effect size revealed that differences in target industries, estimation periods, design of ownership variables, data sources, estimators, and choices of control variables could have had systematic and profound effects on the empirical results presented in previous studies. We have also noted that publication selection bias is strongly suspected in this research field, and that, due to the magnitude of this bias, existing studies cannot be expected to provide genuine evidence regarding the effect of ownership concentration on firm performance in European emerging economies. Further empirical studies are required to identify the true effect in this region.

Recent years have witnessed an unprecedented increase in scholars' interest in emerging economies, with an increasing number of articles published. This study investigates the knowledge base that has formed the foundation for research on emerging economies. Using bibliometric techniques of citations and co-citations, we reviewed the extant management/business research on emerging economies to identify the intellectual structure and the main research concentrations of the field over the past two decades, from 1992 to 2013. The findings reveal that an institutional perspective has been foundational to the research on emerging economies multinationals. Yet, there is a growing emphasis on firms' strategic choices and the use of resource, and dynamic capabilities-based views - entering and exiting emerging economies. Institutional perspectives complement a greater emphasis on the global strategies of firms in and out of emerging economies as scholars delve into the emerging countries multinationals' dynamic capabilities as sources of competitive advantage. This study extends the current comprehension of the theories and themes researched, how the research agenda has progressed, and the conceptual idiosyncrasies of emerging economies studies. We provide scholars and practitioners with a global rear view of the field, organize, classify and systematize the stock of accumulated knowledge and the trends of theorizing, as a foundation to spawn future research endeavors.

Clarifying the impact of cereal trade on urbanization is crucial for enhancing effective food security policies and promoting sustainable urban development. However, the heterogeneous impact of the cereal trade on urbanization remains underexplored. This study applies international trade theory to explore the causal effects and supplements panel data on 216 economies from 1990 to 2018 using two-stage least squares regression (2SLS). The results show that both cereal exports and imports significantly promote urbanization, with the magnitude of imports being higher than that of exports. Furthermore, global cereal trade promotes urbanization in both emerging and developed economies. The findings provide insights for policymakers on how to leverage adjustments in cereal trade policies to enhance urbanization, particularly in economies striving to balance food security with urban development.This study explores how the trade of cereals – such as wheat and rice – affects the growth of cities worldwide. By examining data from 216 countries over nearly three decades, we discovered that countries that export or import cereals tend to see more urban development. The impact of importing cereals on city growth is even stronger than that of exporting them. This finding is crucial for countries looking to balance their food needs with urban expansion. It suggests that managing the cereal trade can be a strategy to enhance urbanization while ensuring food security. Our research provides a fresh perspective on the global discussion about how trade policies can influence the development of urban areas, offering insights for policymakers on fostering sustainable cities.

Purpose: Lean Management has evolved into an inter-disciplinary subject with linkages to Operations Management, Organizational Behaviour, and Strategic Management. The objective of this paper is to review journal articles on lean published in major academic sources with a view to provide taxonomy of the field of lean management facilitating identification of the pertinent themes that exists in literature, while presenting an overview of the main definitions, chronological evolution, diffusion among developed and emerging economies Design/methodology/approach: A review of literature has been conducted which includes 447 research articles in 51 Journals from Academic sources: Emerald Insight, T&F and Science Direct with main focus on lean management. Findings: An analysis of the surveyed literature brings to light an exponential increase in number of papers in the last 3 decades. The paper conducted study of lean in 3 phases i.e. Pre 2001, 2001-2010, Post 2010; enabling the study of maturity of lean. Observation regarding diffusion of lean globally reveals that lean has been adopted by both developed and emerging economies with noteworthy tilt towards its adoption in Asian countries in the recent past whereas initially it was confined to developed countries. New themes that have emerged such as Industry 4.0 and sustainability in the context of lean have been identified. Research limitations/implications: The aim of the paper is succinct representation of the current status and facilitating future research in the field. Originality/value: The present business environment with its rapid changes in market, rise in its economic, technical, and socio-psychological complexities has paved way for acceptance of lean as an operating strategy in a pervasive manner. The present study extends efforts of previous studies to analyse diffusion of lean globally, themes that have emerged and also includes more contemporary research with focus on its spread to emerging economies.

The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

Purpose: Was examined the relationship between social culture, Industry 4.0 technologies, and organizational performance in companies from emerging countries. Design/methodology/approach: Were chose medium and large companies from emerging Latin American economies. Colombia and Peru as the most advanced economies, and Ecuador for being in the first phase of growth. It was Data from 428 workers collected through online surveys. The data analysis was carried out using a Structural Equation Model. Findings: The results indicated a relationship between Industry 4.0 technologies and organizational performance and social culture and organizational performance. Furthermore, social culture does not mediate the relationship between Industry 4.0 technologies and organizational performance. Differences were also found among countries. Evidence is provided that Industry 4.0 technologies and social culture lead to better organizational performance. Practical implications: This study showed that, in the context of analysis, the level of maturity regarding the use of 4.0 technologies of medium and large companies is still incipient. Provides (1) information on cultural differences, mainly in the dimensions of Masculinity, Power Distance, and Individualism; and (2) guidelines on the use of Industry 4.0 technologies and their implication in Organizational Performance. Originality/value: The research results provide knowledge of the relationship between 4.0 technologies, social culture, and organizational performance in the context of emerging economies where the subject has been little investigated.

Purpose The growing phase of emerging economy countries requires the implementation of environmental assessment tools in the building sector. The use of environmental product declarations (EPDs) has risen in developed countries as one of the main tools for environmental assessment. However, at what point should developing countries follow the EPD implementation strategies used by developed countries? What are the strengths and weaknesses of EPD in the emerging economy context, and what threats and opportunities does it face within the building sector? This work aims to answer these questions by taking Mexico as a case study. Methods A bibliographical review was conducted to determine the key elements for EPD development in the building sector in other countries, especially those in Europe, where EPDs originated. The review also examined the experience and perspective of other countries that are starting to contemplate this type of ecolabel as an option for environmental assessment within their own building sectors, as well as industry perspectives on EPDs, especially those of small and medium-sized enterprises (SMEs). Then, Mexico’s situation in regard to these key elements was examined, with a special focus on the main stakeholders detected: government and industry. Finally, after a contrast analysis was conducted between the developed countries and Mexico, the strengths and weaknesses of EPDs in the emerging economy context and the threats and opportunities within the building sector were determined. Results and discussion The use of EPDs in Europe has largely followed a normative and legislative pattern. Moreover, it has been the main data source for building environmental assessment schemes, and there is a strong life cycle assessment (LCA) platform that contributes to EPD development. Furthermore, there is a European tendency toward making the use of EPDs mandatory. However, there is a very different reality in emergent economy countries. In these countries, social housing represents a major part of the vision of the building sector, so it is taken as an initial approach to EPD development. In Mexico, there is a solid legislative framework in which EPDs could be implemented, and there is a variety of environmental assessment housing programs into which EPDs could be integrated. Nevertheless, there is an institutional void that has prevented the incorporation of the life cycle approach into the national strategy of sustainability in the building sector. Moreover, SMEs might not have the technical and financial capacity to develop EPD. Conclusions This analysis has proved that EPD implementation in emerging countries mainly depends on two aspects: Firstly, it must be a shared vision of sustainability between government and industry, in which there is a correspondence between the sustainability objectives of the two parties and SMEs have the ability to contribute toward their achievement. Secondly, a solid platform of knowledge that supports LCA in the building sector is necessary, and it must involve a strong relationship between government, academia, and stakeholders.

Purpose The purpose of this study is to understand the role institutions play in driving the internationalization of firms in an emerging country through promotion of coopetition. Investigating the relationships between coopetition, institutions and internationalization, especially among firms in emerging countries, is an important approach that has received little attention. Design/methodology/approach This study has used a single case study interviewing managers of Brazilian wineries and representatives of formal institutions in an emerging economy. A research framework taking an institutions-based view of strategy and applying it to study coopetition and internationalization is proposed. Findings Formal institutions are the most important players in the promotion of coopetition between firms in the Brazilian wine industry. Coopetition enables firms to access new resources and capabilities, promoting and facilitating internationalization, while also increasing firms’ competitiveness in the domestic market. The study also found evidence of certain limiting factors within these relationships, caused by the heterogeneous nature of the firms involved and by the asymmetries in their perceptions of the gains achieved. Research limitations/implications As a consequence of the methodology adopted, the results of this study are limited to the Brazilian wine industry. Future research should extend the approach to data collected in different countries and industries. Another promising avenue for research is to explore how decisions of a political nature influence the institutions that coordinate an industry, which would provide a new perspective on the internationalization of the firms involved. Practical implications The results offer governments and institutions an opportunity to better understand, and therefore to better manage, their actions in relation to their role in the promotion of the competitiveness of firms and industries, both in international and domestic markets. For firms, the results offer insights into the possible gains and the limitations of coopetition strategies, contributing to their decision-making on involvement. The study also contributes to understanding the competitiveness of the industry investigated. Originality/value This study approaches coopetition from the institutional perspective. It also focuses on internationalization of firms from an emerging country, which is characterized by a lack of firm-specific resources. The proposed framework seems promising for future research investigating coopetition and institutions within an integrated analytical framework.

Purpose This paper aims to investigate whether paid work activity (PWA) experience of students from five emerging economies is related to academic results and self-assessment of possessed entrepreneurial traits. Additionally, the authors verify the relationship between obtaining work experience and the willingness to start own business among students. Design/methodology/approach Participants included 3,631 students of the first level of higher education at six universities in five countries (Bulgaria, Latvia, Lithuania, Poland and Ukraine). A survey questionnaire was used which included questions on the previous work experience, paid work during university studies, the assessment of competencies related to entrepreneurship and the assessment of the desirability of entrepreneurship as a career choice. Findings Findings indicate that students who engaged in PWA before studies are more likely to do it during studies. PWA during studies is related to perceiving oneself as a worse-performing student, but also to the perception of oneself as an entrepreneurial person. No such relationship was found for the PWA experience before entering the university. It was also found that students are likely to start their businesses after obtaining work experience. Practical implications Practical implications pertain to the role of the contemporary academic institutions that should consider their approach to enabling students’ PWA and teaching them how to engage in it for the benefit of their own and the societies to which they belong. It is argued that it may be particularly essential in emerging economies. Originality/value The correlates of PWA of students have been underexplored. This paper allows broadening the current understanding of this phenomenon. The authors investigated its relationship with feeling entrepreneurial and academic achievements among young people from five emerging economies, which provides valuable insights for policymakers and educational institutions. It is argued that such insights may be particularly essential in emerging economies. Additionally, the authors contribute to advancing two theories that have not been extensively used in the entrepreneurial context: expectancy theory and social learning theory of career development.