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In economics, internationalization or internationalisation is the process of increasing involvement of enterprises in international markets, although there is no agreed definition of internationalization. Internationalization is a crucial strategy not only for companies that seek horizontal integration globally but also for countries that addresses the sustainability of its development in different manufacturing as well as service sectors especially in higher education which is a very important context that needs internationalization to bridge the gap between different cultures and countries. There are several internationalization theories which try to explain why there are international activities.
A foreign direct investment (FDI) refers to purchase of an asset, such that it gives direct control to the purchaser over the asset. In other words, it is an investment in the form of a controlling ownership in a business, in real estate or in productive assets such as factories in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment or foreign indirect investment by a notion of direct control.
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and transaction.
Đổi Mới is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy". The term đổi mới itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate". However, the Đổi Mới Policy refers specifically to these reforms that sought to transition Vietnam from a command economy to a socialist-oriented market economy.
International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
Immigration is the international movement of people to a destination country of which they are not natives or where they do not possess citizenship in order to settle as permanent residents or naturalized citizens. Commuters, tourists, and other short-term stays in a destination country do not fall under the definition of immigration or migration; seasonal labour immigration is sometimes included, however.
The economic results of migration impact the economies of both the sending and receiving countries.
In economics a spillover is an economic event in one context that occurs because of something else in a seemingly unrelated context. For example, externalities of economic activity are non-monetary spillover effects upon non-participants. Odors from a rendering plant are negative spillover effects upon its neighbors; the beauty of a homeowner's flower garden is a positive spillover effect upon neighbors. The concept of spillover in economics could be replaced by terminations of technology spillover, R&D spillover and/or knowledge spillover when the concept is specific to technology mamagement and innovation economics.
Knowledge spillover is an exchange of ideas among individuals. Knowledge spillover is usually replaced by terminations of technology spillover, R&D spillover and/or spillover (economics) when the concept is specific to technology management and innovation economics. In knowledge management economics, knowledge spillovers are non-rival knowledge market costs incurred by a party not agreeing to assume the costs that has a spillover effect of stimulating technological improvements in a neighbor through one's own innovation. Such innovations often come from specialization within an industry.
Globalization is a process that encompasses the causes, courses, and consequences of transnational and transcultural integration of human and non-human activities. India had the distinction of being the world's largest economy till the end of the Mughal era, as it accounted for about 32.9% share of world GDP and about 17% of the world population. The goods produced in India had long been exported to far off destinations across the world; the concept of globalization is hardly new to India.
Adriana Debora Kugler is a Colombian-American economist. She is the U.S. executive director at the World Bank, nominated by President Biden and confirmed by the U.S. Senate last April. She is a professor of public policy at Georgetown University and is currently on leave from her tenured position at Georgetown. She served as the Chief Economist to U.S. Labor Secretary Hilda L. Solis from September 6, 2011 to January 4, 2013.
Foreign direct investment and the environment involves international businesses and their interactions and impact on the natural world. These interactions can be observed through the stringency applied to foreign direct investment policy and the responsiveness of capital or labor incentive for investment inflows. The laws and regulations created by a country that focuses on environmental regimes can directly impact the levels of competition involving foreign direct investment they are exposed to. Fiscal and financial incentives stemming from ecological motivators, such as carbon taxation, are methods used based on the desired outcome within a country in order to attract foreign direct investment.
Holger Görg is a German economist who currently works as Professor of International Economics at the University of Kiel. Görg also leads the Kiel Center for Globalization and heads the Research Area "Global Division of Labour" at the Kiel Institute for the World Economy. In 2009, he was awarded the Gossen Prize for his contributions to the study of firms' decisions to invest, export and outsource parts of their value chains abroad.
Thierry Mayer is a French economist and Professor of Economics at Sciences Po. He belongs to the most frequently-cited economists in the field of international trade. In 2006, Mayer and Etienne Wasmer were awarded the Best Young Economist of France Award by Cercle des économistes and Le Monde.
Hillel Rapoport is an economist at the University of Paris 1 Pantheon-Sorbonne and Paris School of Economics. He specializes on the dynamics of migration and its impact on economic development as well as on the economics of immigration, diversity, and refugees' relocation and resettlement and ranks as one of the leading economists on the topic of migration.
Ann E. Harrison is the 15th Dean of the Haas School of Business at the University of California, Berkeley, and the second woman to head the top-ranked business school. Dean Harrison is a renowned economist and one of the most highly-cited scholars on foreign investment and multinational firms.
Gianmarco Ireo Paolo Ottaviano is an Italian economist and Professor of Economics at Bocconi University.
Elizabeth Asiedu is a professor of economics at the University of Kansas. She has facilitated research that is centered around foreign aid, foreign directed investment (FDI), and gender. She is a founder of the Association for the Advancement of African Women (AAAWE), as well as the current president of the organization. Asiedu is an editor of the Journal of African Development.
Catalina Amuedo-Dorantes is a Spanish economist, a Professor in the Economics and Business Management faculty at the University of California, Merced and a Professor and Department Chair at San Diego State University. Since 2015, she has been the Western Representative for a standing committee called the Committee for the Status of Women in the Economics Profession (CSWEP). Her field of work focuses on the fundamentals of labour economics and international migration, particularly the nature of immigration policies and its impact on migrant's assimilation into the community at a state and local level. Amuedo-Dorantes has published multiple articles in refereed journals including Journal of Public Economics, Journal of Population Economics, International Migration, and Journal of Development Economics.
Beata Smarzynska Javorcik is a Polish economist who is currently the Chief Economist at the European Bank for Reconstruction and Development (EBRD). She is the first woman to hold this position. She is also the first woman to hold a statutory professorship in economics at the University of Oxford. She is a former senior economist of the Development Economics Research Group at the World Bank, where she previously served as a Country Economist for Azerbaijan, Europe, and the Central Asia Region and was involved in research activities regarding lending operations and policy advice. She is also a program director of the International Trade and Regional Economics Programme at the Centre for Economic Policy Research in London. Her other affiliations include the Royal Economic Society in London, CESifo in Munich, International Growth Centre in London, and the Centre for Research on Globalization and Economic Policy at the University of Nottingham.
References
- ↑ Kugler, Maurice (2006). "Spillovers from foreign direct investment: Within or between industries?" (PDF). Journal of Development Economics. 80 (2): 444–477. CiteSeerX 10.1.1.120.1192 . doi:10.1016/j.jdeveco.2005.03.002. ISSN 0304-3878. S2CID 5379369. Archived from the original (PDF) on 2018-01-10.
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