Though writers and readers have long agreed that travel does not only broaden the mind, but that it is also useful to report on such an experience, the question of what to report on and how has remained a matter of debate. To think of travel and travel writing as ""foreign correspondence"" is to apply, metaphorically, a phrase that has its own complex and overlapping history in journalism, politics, and international culture. The chapters of this volume focus on this notion, seen here as a dual
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Entrepreneurship is a vital component of economic development through innovation, job creation and efficient allocation of resources. Hence, many governments play a proactive role in facilitating entry of new firms and nourishing an entrepreneurial culture. These objectives became more relevant in recent years since fostering entrepreneurship is viewed as the cure to the global economic slowdown. This thesis addresses an essential but neglected aspect of entrepreneurship development: the impact of capital flows in the form of FDI and foreign aid on domestic firm creation. What is common to FDI and aid is that capital, skills, technological and organizational know-how move across national boundaries, altering the balance of local resources available to prospective entrepreneurs. In Chapter 2, we exploit cross-country and cross-country-industry variation over time in FDI via M&A and entrepreneurship. Results suggest that adverse effects of FDI counterbalance positive spillovers, leaving the net impact on entrepreneurship negative—though it is economically very small—both at the aggregate and industry level. Nascent entrepreneurship is affected the most by FDI, with the size of the negative effect decreasing as new firms advance in age. In the literature, heightened competition ensuing FDI is documented as the main cause of crowding-out of domestic firms. Chapter 3 thus takes a step towards understanding factors governing the FDI-entrepreneurship nexus of which we consider industry competition (concentration) and wages. We find that FDI is positively associated with both elements in Dutch manufacturing industries, which translates into increases and reductions in entry rates, respectively. This suggests that lucrative rents in concentrated markets are accessible to both foreign and domestic firms. Findings also imply that higher industry wages attract would-be entrepreneurs into wage-employment rather than pursuing a career as a new venture owner. Once the channel effects are isolated, there is no direct ...
The assignation of Prime Minister Indira Gandhi (1984) and Rajiv Gandhi (1991) crushed the International Investors confidence on the unstable Indian economy. The Crises of BOP compelled India to follow the bail out conditions of IMF and to open its closed economy to the entire world, by adopting the policies of liberalization in 1991. Under liberalization the structured economic reforms were initiated in the trade, investment, deregulations, privation, tax reforms etc., these reforms encouraged the competitions and globalization was slowly embraced. The main objective of the then Govt. was to transform the Indian economic system from socialization to capitalization, so as to achieve high economic growth and industrialize the nation for its well being. However, NDA Government slows down the speed of liberalization due to coalition politics and vested political interests, but could not de-regulate the liberalization. Liberalization has changed the scenario of Indian trade and investment as many advantages are explored in these sectors. The impacts of liberalization have been seen in the foreign trade and foreign investment in India in post liberalized periods, as its imports, exports and foreign investments were reported in US$ millions 300609, 182235 and 51167 respectively in the year 2009-10, showing huge advancement from the 1991-92. Indian economy became the second largest growing economy of the world after China. Due to liberalization India reached to 124th rank out of 179th rank of economic freedom index in 2009 under PPP terms. This shows that India is stepping toward complete liberalization. This research paper tries to show the trends and interrelationship between foreign trade foreign investment, Imports Exports and FDI FPI in Post liberalized periods (1992-93 to 2009-10).The role of foreign investment in curving deficit BOT has also highlighted.
