Exporting is a popular mode of internationalisation for a variety of reasons. For instance, many enterprises prefer exporting because it permits them to learn from competition with minimum resources committed by the enterprise. However, it is noted in literature that enterprises face various constraints when exporting. Earlier studies, mostly conducted in developed countries, have documented several exporting constraints. The studies do not agree on the grouping of factors constraining exporting and elements that form such groupings. Also, it is acknowledged in literature that generalising findings from developed countries to developing countries would not necessarily be appropriate, hence studies in developing countries such as Lesotho are necessary and, to the researcher’s knowledge, this study is the first to be conducted in Lesotho. This formal study, therefore, was carried out to test the hypotheses developed from literature regarding factors that constrain exporting. Lesotho is land locked, being completely surrounded by the Republic of South Africa. It is believed that Lesotho’s setting can bring insights into exporting as the country becomes a popular destination for export-oriented investors. Although enterprises operating in Lesotho had been exporting prior to 2000, there was a major boost of exports at the beginning of 2000 when Lesotho became eligible for exports to the United States, Canada and European markets under the agreement in the African Growth Opportunity Act (AGOA). The AGOA agreement brought a flow of Asian export-oriented investors into Lesotho. Lesotho’s exports are concentrated in the apparel and textile industries and are destined to a few countries, predominantly South Africa and the United States. The literature review covers the globalisation of the business environment. Further, the international entry modes are discussed along with the theories that explain the decision of the enterprises to initiate the internationalisation process. Finally, the exporting mode of internationalisation is discussed detailing the constraints that enterprises face when engaging in exporting. A questionnaire was used to collect data. The instrument first underwent a rigorous evaluation by experts who are knowledgeable about the subject. The experts proposed changes that were adopted prior to conducting a pilot study. A judgemental sampling approach was used where manufacturing enterprises located in seven of ten industrial areas in Lesotho, who agreed to participate in the study, were issued one questionnaire each. The questionnaires were distributed to key informants who were regarded as managers directly responsible for international operations. Alternatively, chief executive officers were approached in situations where enterprises did not employ international operation’s managers. A response rate of 94.7 percent was obtained. The study revealed that exporting constraints are internal to the enterprises and that three factors, as opposed to the five that were hypothesised, constrain exporting. The study further revealed that perceived exporting constraints varied according to the size of the enterprise as well as the ownership structure thereof. Recommendations were made relating to actions aimed at minimizing exporting constraints. Lastly, future areas of research were identified. The study will be beneficial to enterprises as they will be able to adopt suitable measures to overcome or reduce the impact of exporting constraints. Also, the study will inform policy makers in Lesotho with regards to areas where appropriate assistance should be provided. In addition, the study would inform business educators regarding areas of training for exporters, which will address the training needs of exporters. Lastly, researchers interested in exporting will find other avenues that can be researched in order to build the field of exporting. / Thesis (PhD)--University of Pretoria, 2012. / am2013 / Business Management / unrestricted

In a developing oil-based economy like Libya the availability of finance is largely affected by the availability of oil revenues which are subjected to disturbances and shocks. Therefore, the decision to save and invest a certain ratio of the country's aggregate output is, to large extent, determined (and affected) by the shocks in the oil markets rather than the requirements of economic development. In this study an attempt is made to determine the optimal rate of saving and investment, both defined as a ratio of the aggregate output, according to the requirements of economic development. For this purpose, a neo-classical Ramsey-type model for Libya is constructed and applied to obtain theoretically and empirically the optimal saving and investment rate during the period (1965-1991). The results reveal that Libya was investing over the optimal level during the oil boom of 1970s and less than the optimal level during the oil crisis of 1980s. In addition, an econometric investigation of the determinants of actual investment by sector (agriculture, non-oil industry, and services) is carried out in order to shed lights on how possible it is for Libya to adjust actual investment towards its optimal level. It is found that, as expected, the most important factor which can be used in this respect is the oil revenues or, generally, the availability of finance. In addition, the study reveals that investment in agriculture is associated, during the period of study, with a very low marginal productivity of capital whereas marginal productivity was higher in both non-oil industry and services. Finally, the study investigates also the future potential saving and investment rates and concludes that the economy, which has already reached its steady state, can be pushed out towards further growth if the economy can be able to increase the level of per worker human capital, proxied by the secondary school enrolment as a percentage of population. / Secretariat of Higher Education in Libya and Libyan Interests Section in London

The purpose of this study was to investigate internationalisation of Ethiopian SMEs by examining internal and external factors that motivate or restrict internationalization process and the impact of internal and external barriers on SMEs export performance. The small and medium sized enterprises (SMEs) sector in Ethiopia is a significant group within the economy in terms of firm numbers and total employment. However, the SMEs sector’s share of exports is disproportionately small, which raised considerable research concerns. Firm export propensity and export performance were the dependent variables and export stimuli and barrier factors were used as explanatory variables. The study was conducted through mixed research design. A questionnaire was administered to 90(36 exporting and 54 nonexporting) SMEs in Leather and Leather Products Industry in Addis Ababa selected through stratified random sampling. In order to complement survey results nine (4 exporting and 5 non-exporting) SMEs were selected through critical case purposive sampling and an in-depth interviews were conducted. Statistical package for the social sciences (SPSS 20) was used to analyse the quantitative data whereas, qualitative data were analysed manually. Analytical techniques used were, Chisquare test of independence, Spearman rank order correlation, factor analysis, binary logistic regression analysis and multiple regression analysis. The statistical results of binary logistic regression analysis and chi-square tests indicated that managerial factors, internal marketing factors and foreign government related factors, firm ownership and size are the most significant motivators of SMEs internationalisation in Ethiopia. On the contrary the result showed that, logistics problem, insufficient finance, functional barriers, lack of export knowledge and information, procedural barriers and international trade barriers are the factors hindering it. Further analysis was conducted to examine the impact of export barriers on performance of firms. The result of multiple regression analysis indicated that, export barriers significantly and negatively affect export performance. The overall results revealed that explanatory variables used in the analysis significantly predict the dependent variable at 95% confidence level. Considering these results numerous implications for theory, practice, and future research were recommended. Finally, the study concluded that internationalisation of SMEs has to be encouraged by mitigating both internal and external barriers identified in this study. / Business Management / D. Admin. (Business Management)

This thesis reports research in the Country-of-Origin (COO) area of international business, into the postulated phenomenon of Negative Image. Image has been regarded as a potential purchase decision influencing factor but to date not investigated in-depth. Research was carried out in the business to business area, across cultures and between developed and developing countries, using an example from Zimbabwe. The primary research methodology comprised semi-structured elite interviews with Zimbabwean footwear exporters and UK footwear importers. A questionnaire incorporating sections on topics related to the international image of manufactured goods exporters based in Third World countries was also administered to the UK footwear importers. This dealt with political, commercial and image aspects of importer-exporter relationships and also addressed directly the issue of Third World businessmen's image. Results from the field work demonstrate that the Negative Image of Third World manufactured goods exporters directly affects importer decision making and that Negative Image has an exclusively negative impact. Data from inductive analysis of interviews and supporting correlations arising from the questionnaire were used to construct a model of the relationships and formalise the concepts and constructs of Negative Image. These included disparities in exporter and importer expectations of quality, price, delivery and performance. In addition unreliability, inefficiency, professionalism, lack of both marketing skills and social conversation contribute to the phenomenon. A potential conflict was identified at the individual level between personal and professional perspectives and a reciprocal Negative Image of importers was identified from the Zimbabwean exporters' perspective. Suggestions are made regarding the key factors in exporter-importer relationship development and conclusions are then drawn suggesting that improvement to levels of importer-exporter contacts and information flows can be useful in ameliorating the Negative Image effect. Scenarios for image improvement are offered at government, firm and individual levels. Finally, limitations of the research are discussed and recommendations for further research are given

This business plan presents the process of developing an export plan for Brighten Optix, one of the largest specialty contact lens manufactory in the Asia Pacific. Brighten Optix obtains over 2/3 of its revenue from China due to its rapid growing GDP per capita and high myopia prevalence. In order to spread potential business risk, it was decided to explore new markets starting from Asia Pacific region. iCon United is a new oversea business unit for Brighten Optix; we will use iLens, the reverse geometric lens for orthokeratology, which is a special design for Asian eye, to develop new markets. The goal of this business plan is to provide our mother company with a clearer view of the next market to enter and to develop an effective marketing method that should allow 1% market share penetration in three years.

The dissertation addresses the causes and consequences of the 1973-1974 energy crisis. A new postcolonial concept of sovereignty, "permanent sovereignty over natural resources," challenged the structure of the international economy in the early 1950s. The proponents of permanent sovereignty identified the relationship between the industrial nations and raw material producers as a vestige of empire. By gaining control over national resources, Third World leaders hoped to reset the relationship between the developing and developed nations. The concept of permanent sovereignty authenticated new definitions and goals of decolonization and statehood. A new middle ground between U.S. diplomacy and Third World economic thought emerged in international oil politics. Chapters on the 1967 Arab oil embargo, Saudi and Iranian demands in the wake of imperial Britain's Persian Gulf withdrawal, the legal battles over the Iraqi Ba'ath regime's nationalized oil, and the reverberating effects of newly radical Libyan politics, explain how members of the Organization of Petroleum Exporting Countries (OPEC) remade permanent sovereignty between 1967 to 1972. OPEC underscored the salience of permanent sovereignty in the international political economy, but it also undermined it. The built-in tension culminated in the 1973-1974 energy crisis. The final chapters discuss how the impregnable sovereignty preached by OPEC and its transnational backers in the New International Economic Order engendered a strategic response from the United States: neoliberal diplomacy. OPEC's cartel politics became a scapegoat for policymakers who simplified and codified neoclassical economic ideas. Market-centered reform developed into an analytical refuge in the political-economic wreckage of the energy crisis. American strategy toward the International Monetary Fund and the United Nations reveal that neoliberal diplomacy became widely influential in U.S. foreign policy. / text

In a developing oil-based economy like Libya the availability of finance is largely affected by the availability of oil revenues which are subjected to disturbances and shocks. Therefore, the decision to save and invest a certain ratio of the country's aggregate output is, to large extent, determined (and affected) by the shocks in the oil markets rather than the requirements of economic development. In this study an attempt is made to determine the optimal rate of saving and investment, both defined as a ratio of the aggregate output, according to the requirements of economic development. For this purpose, a neo-classical Ramsey-type model for Libya is constructed and applied to obtain theoretically and empirically the optimal saving and investment rate during the period (1965-1991). The results reveal that Libya was investing over the optimal level during the oil boom of 1970s and less than the optimal level during the oil crisis of 1980s. In addition, an econometric investigation of the determinants of actual investment by sector (agriculture, non-oil industry, and services) is carried out in order to shed lights on how possible it is for Libya to adjust actual investment towards its optimal level. It is found that, as expected, the most important factor which can be used in this respect is the oil revenues or, generally, the availability of finance. In addition, the study reveals that investment in agriculture is associated, during the period of study, with a very low marginal productivity of capital whereas marginal productivity was higher in both non-oil industry and services. Finally, the study investigates also the future potential saving and investment rates and concludes that the economy, which has already reached its steady state, can be pushed out towards further growth if the economy can be able to increase the level of per worker human capital, proxied by the secondary school enrolment as a percentage of population.

Net energy exporting countries (NEECs) and net energy importing countries (NEICs) depend on each other for mutual gains. However, NEICs pursue strategic policies to reduce consumption of energy from conventional sources and increase that of renewable energy in order to attain energy security and macro environmental and carbon accountability. On the other hand, NEECs such as Nigeria depend heavily on oil and gas exports to NEICs to generate revenue. As a result of this inter-dependent relationship, this PhD project adopts a dependency theory and strategic issue analysis framework to underpin the study. Accordingly, the study approach is founded on the ideas of pluralism as a social reality and adopted pragmatism as the research approach. Consistent with these approaches, the study was undertaken by analysing both secondary and primary data, including macro-economic statistics of annual time-series dataset (1980-2014) and semi-structured interviews respectively. The quantitative part of the project used Auto Regressive Distributed Lag (ARDL) Bounds testing approach. This method was used to investigate and analyse the effect of renewable energy consumption and carbon emissions reduction on Nigeria’s oil and gas exports. The qualitative part involved interviews with twenty senior government officials in Nigeria from six selected Federal Ministries, Departments and Agencies (MDAs), representatives of civil society groups and academicians, to support the quantitative results and answer certain research questions. The short-run quantitative results and qualitative findings show that renewable energy consumption in developed NEICs affects Nigeria’s oil and gas exports. However, the reverse holds true for emerging NEICs. Both the quantitative results and the qualitative findings show that carbon emissions reduction in developed NEICs affects Nigerian oil and gas exports in the long run. Also, the quantitative results show that renewable energy consumption in developed and emerging NEICs does not affect Nigerian oil and gas exports in the long run. However, the qualitative findings only support the quantitative results for emerging NEICs but do not support those of developed NEICs. Similarly, the qualitative findings indicate that other external and internal factors such as discovery of shale oil and gas; improvement in energy efficient technologies; the use of long-term contract in other NEECs; stringent nature of the Nigerian Content Law and lack of passage of the Petroleum Industry Bill amongst others currently contribute in affecting Nigeria’s oil and gas exports. Moreover, the qualitative findings show that global energy transition has an impact on the Nigeria’s oil and gas revenue, savings made to the Nigerian Sovereign Wealth Fund, budget financing and will continue to affect Nigerian revenue and budget if the economy remains undiversified. Finally, the qualitative findings indicate that global energy transition has negatively affected Foreign Direct Investment flow into Nigerian petroleum industry and discoveries of new oil and gas reserves. These findings have several implications. Firstly, Nigerian oil and gas exports are affected by the carbon emissions control regime, which makes future oil and gas revenues uncertain; thereby putting pressure on budget financing and socio-economic growth and development. On this note, there is the need for Nigeria to take cautionary position in the global climate change debate in order not to adversely affect the country’s economic interest. Secondly, the consumption of energy from renewable sources in both developed and emerging NEICs is an opportunity for Nigeria to export not only its conventional energy but also renewable energy if commercially harnessed. This suggests that Nigerian should also invest heavily in renewable energy production. Thirdly, the major findings of this study provide evidence in support of the relevance of dependency theory and strategic issue analysis framework within the context of energy transition in NEICs on one hand, and Nigerian oil and gas exports to these countries on the other. This implies the need for Nigeria to focus on developing internal market trajectories to increase domestic utilisation of its conventional energy rather than being dependent on external markets for the sale of the nation’s energy resources.

Submitted by Lucimara Trevejo (lucimara.trevejo@gvmail.br) on 2012-03-22T15:54:33Z No. of bitstreams: 1 dissertaçao_Lucimara.pdf: 382235 bytes, checksum: 61b3177bd04ea4a8414f4d92ec1ecb89 (MD5) / Approved for entry into archive by Vera Lúcia Mourão (vera.mourao@fgv.br) on 2012-03-22T16:59:34Z (GMT) No. of bitstreams: 1 dissertaçao_Lucimara.pdf: 382235 bytes, checksum: 61b3177bd04ea4a8414f4d92ec1ecb89 (MD5) / Made available in DSpace on 2012-03-22T17:08:46Z (GMT). No. of bitstreams: 1 dissertaçao_Lucimara.pdf: 382235 bytes, checksum: 61b3177bd04ea4a8414f4d92ec1ecb89 (MD5) Previous issue date: 2012-02-23 / O presente estudo procurou identificar quais são os fatores que influenciam a utilização de trading companies nos processos de exportação de empresas brasileiras, tendo como uma das principais justificativas o fato da exportação ser uma das atividades econômicas que apresentam o maior crescimento e contribuição para a economia mundial. O modelo de pesquisa investigou a influência da distância psíquica, distância física, conteúdo de commodity dos produtos exportados, complexidade do ambiente de negócios e risco associado aos países de destino das exportações brasileiras. Serviram como base para a pesquisa a teoria dos custos de transação, estudos relativos aos modos de entrada em mercados internacionais e exportações indiretas. Os testes foram conduzidos a partir de um banco de dados secundários que continha informações relativas às exportações brasileiras realizadas entre os anos de 2006 e 2009, totalizando 450.475 operações. Deste total 80,1% eram exportações diretas e 19.9% exportações indiretas. Os resultados apontam o risco país e a distância psíquica como os fatores que mais influenciam a utilização de trading companies nos processos de exportação das empresas brasileiras. Em relação ao conteúdo de commodity os testes apresentaram resultados parcialmente favoráveis. Conclui-se que quanto maior o risco país e a distância psíquica entre o Brasil e os países de destino das operações de exportação maiores as chances de utilização das trading companies. / This paper has tried to identify which are the factors that have influenced the use of trading companies at the Brazilian companies’ export processes, having as one of the main justifications the fact that exports are one of the economical activities that show the most growth rate and contribution to the world economy. The research model investigated the influence of psychic and physical distance, exported product commodity content, business environment complexity and the country risk associated to the Brazilian exports destination. The transaction cost theory, studies regarding the entry modes and indirect exports were used as a base for this research. Tests have been conducted using a secondary database which had Brazilian exports data from 2006 through 2009, in a total of 450,475 operations. From this amount, 80.1% were direct export operations, while the other 19.9% were indirect export operations. The results point out that the country risk and the psychic distance are the factors which have most influence for the use of trading companies at the Brazilian companies’ export processes. Regarding the commodity content, the testes have showed partially favorable. It has been concluded that the bigger the country risk and the psychic distance between Brazil and the export operation destination countries, the higher are the chances for using trading companies.

Submitted by Daniele Santos (danielesantos.htl@gmail.com) on 2015-12-22T14:02:29Z No. of bitstreams: 1 Jeffrey.pdf: 11824596 bytes, checksum: e53f7ce72384381247ec95015dbe102d (MD5) / Approved for entry into archive by Janete de Oliveira Feitosa (janete.feitosa@fgv.br) on 2015-12-29T12:29:01Z (GMT) No. of bitstreams: 1 Jeffrey.pdf: 11824596 bytes, checksum: e53f7ce72384381247ec95015dbe102d (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2016-01-06T17:15:02Z (GMT) No. of bitstreams: 1 Jeffrey.pdf: 11824596 bytes, checksum: e53f7ce72384381247ec95015dbe102d (MD5) / Made available in DSpace on 2016-01-06T17:15:15Z (GMT). No. of bitstreams: 1 Jeffrey.pdf: 11824596 bytes, checksum: e53f7ce72384381247ec95015dbe102d (MD5) Previous issue date: 2015-10-26 / How have shocks to supply and demand affected global oil prices; and what are key policy implications following the resurgence of oil production in the United States? Highlights: − The recent collapse in global oil prices was dominated by oversupply. − The future of tight oil in the United States is vulnerable to obstacles beyond oil prices. − Opinions on tight oil from the Top 25 think tank organizations are considered. Global oil prices have fallen more than fifty percent since mid-2014. While price corrections in the global oil markets resulted from multiple factors over the past twelve months, surging tight oil production from the United States was a key driver. Tight oil is considered an unconventional or transitional oil source due to its location in oil-bearing shale instead of conventional oil reservoirs. These qualities make tight oil production fundamentally different from regular crude, posing unique challenges. This case study examines these challenges and explores how shocks to supply and demand affect global oil prices while identifying important policy considerations. Analysis of existing evidence is supported by expert opinions from more than one hundred scholars from top-tier think tank organizations. Finally, implications for United States tight oil production as well as global ramifications of a new low price environment are explored.