Thesis (MBA (Business Management))--Stellenbosch University, 2008. / ENGLISH ABSTRACT: The phenomenon of globalisation has seen the closer integration of the world's countries and people. The result of this, is that overall, the world economy has grown substantially. On the flip side, globalisation has greatly increased the exposure of individual countries to occurrences elsewhere in the world. This latter statement is witnessed by the events such as the spread of financial crises from source countries to third party countries that do not seem to have any obvious ties with the crisis-source countries. This has been termed financial contagion. This study seeks to break new ground by focussing on trade-related issues of contagion rather than presenting the usual macro-economic, financial, and political perspectives. A model that considers the trade pattern of countries as linkages tying together countries around the world as a whole (network) is used. This study uses the network approach to international trade as an integration measure and ascertains the occurrence of contagion in South Africa. These parameters will then be used to establish whether trade network integration can be used to explain financial contagion affecting South Africa (and extended to other countries). Two hypotheses are designed and tested in order to establish this. Two measures are used to determine the level of integration of the four study countries. The two measures are country centrality and country importance index. Comparative analysis done showed that all four countries are relatively highly integrated and are in close proximity for both degree centrality and importance. A summary of both indicators of integration measures relative to other countries in the trade network indicate that Mexico, Russia, South Africa and Thailand are well integrated in the network. Secondly the difference in ranking amongst these countries is not significant. Three financial crises are used namely, the Mexican Tequila (1994), the Asian Flu (1997) and the Russian Virus (1998). The contagion testing methodology applied uses the cross-market correlation coefficients between crisis-country and test-country. It is shown that there is no evidence to suggest that South Africa (JSE) was contagiously affected by any of the three financial crises. Only interdependence seems to have existed between the South African market and the crises countries. Evidence shows that countries that are, relatively, highly integrated with the crisis epicentre in terms of the international trade are more immune to episodes of contagion. It is shown further that the relative position of the crisis-suspect country to the crisis epicentre countries, in terms of integration in the international economic landscape, can provide susceptibility indications of that particular country. / AFRIKAANSE OPSOMMING: Die fenomeen van globalisering het gelei tot 'n groter integrasie van die wereld se lande en mense. Die gevolg hiervan is, dat oor die algemeen die wereld ekonomie beduidend gegroei het. Aan die ander kant het globalisering gelei tot die toename in blootstelling van individuele lande aan gebeurtenisse elders in die wereld. Die laasgenoemde stelling getuig van die gebeure, soos die verspreiding van finansiele krisisse vanaf die land van oorsprong tot 'n derde party land wat op die oog af geen ooglopende bande met die krisis-bron lande gehad het nie. Hierdie verskynsel word finansiele besmetting genoem. Hierdie studie beoog om nuwe lig te werp op die saak deur om te fokus op handelsverwante kwessies van besmetting eerders as om die gewone makro-ekonomiese, finansiele en politieke perspektiewe voor te le. 'n Model word gebruik wat die handelspatrone van lande voorstel as 'n samesnoering van lande dwarsoor die wereld as 'n netwerk. Hierdie studie gebruik die netwerk uitgangspunt vir internasionale handel, as 'n integrasie maatstaf en stel vas wat die voorkoms van besmetting in Suid-Afrika is. Hierdie parameters sal dan gebruik word om vas te stel handelsnetwerk integrasie gebruik kan word om die finansiele besmetting wat Suid Alrika (en verspreiding na ander lande) affekteer. Twee hipotese (veronderstellings) word ontwerp en getoets om bogenoemde te bewys. Twee maatstawwe word gebruik om die vlak van integrasie van die vier studie-lande te bepaal. Die twee maatstawwe is 'n land se sentralisasie en die land se belangrikheidsindeks. Vergelykende analise het gewys dat al vier lande relatief hoogs geintegreer is en parallel is in beide sentralisasie en belangrikheid. 'n Opsomming van beide aanduidings t.o.v. integrasie maatstawwe, relatief tot ander lande in die handelsnetwerk, toon dat Meksiko, Rusland en Thailand goed geintegreer is in die netwerk. Tweedens die verskil in rang tussen die lande is nie beduidend nie. Drie finansiele krisisse word gebruik naamlik die Meksikaanse Tequila (1994), die Asiatiese Griep (1997) en die Russiese Virus (1998). Die besmettings waarnemings metodologie gebruik die krisismark korrelasie medewerkende faktore tussen die krisisland en die toets-land. Dit wys dat daar geen getuienis is wat te kenne gee dat Suid Afrika (JSE) besmet is deur enige van die drie krisisse nie. Slegs onderlinge afhanklikheid kom voor tussen die Suid Afrikaanse mark en die krisislande. Dit is bewys dat lande, wat relatief hoog geintegreer is met die krisis episenter, in terme van internasionale handel, meer immuun teen episodes van besmetting is. Verder het dit bewys dat die relatiewe posisie van die krisis-vermeende land tot die krisis episenter lande, in terme van integrasie in die internasionale ekonomiese landskap, vatbare indikasies vir daardie spesifieke land kan verskaf.

The growth of global competition has established international segmentation as a key issue in developing, positioning and selling products throughout the world (Ter Hofstede, Steenkamp and Wedel 1999). Many international segmentation studies have used macro-level, secondary data to identify country clusters based on similarities in political, economic, geographic or cultural variables. As a result of extensive review, we identify three major gaps in the international country segmentation literature. First, no study so far has accounted for the influence of time. While researchers suggest that longitudinal analysis provides additional insight into whether situational characteristics of countries change over time (Cavusgil, Kiyak, and Yeniyurt 2004; Helsen, Jedidi, and DeSarbo 1993; Sethi 1971; Steenkamp and Hofstede 2002,), a major limitation of this body of work is that most studies address country-level segmentation at a single point in time. However, bases of segmentation are considered to be dynamic in nature (Hassan, Craft, and Kortam 2003) and global and country-specific changes in economic development are likely to result in variations in segment membership over time. We investigate the stability of factors and the stability of segments over time by performing cluster analysis at two points of time. Second, most studies use ad hoc variables without theoretical basis which may result in accidental generalizations. Instead of suggesting a proliferation of random variables, which are considered influential in the decision making process without any empirical or theoretical evidence, we propose a theoretical basis for country segmentation. We use institutional theory to distinguish between heterogeneous groups of countries. Finally, there is the issue of providing "one size fits all" solutions. / In other words, existing models offer general results of country clusters meant to be useful for all firms regardless of the product they offer or the industry they belong to. Our model based on institutional theory is used to investigate whether the influence of the host-country environment changes depending on the product that is concerned. / Desislava G. Budeva. / Thesis (Ph.D.)--Florida Atlantic University, 2009. / Includes bibliography. / Electronic reproduction. Boca Raton, Fla., 2009. Mode of access: World Wide Web.

Lam Wing Shing. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2006. / Includes bibliographical references (leaf 33). / Abstracts in English and Chinese. / Abstract --- p.ii / 摘要 --- p.iii / Acknowledgements --- p.iv / Table of Contents --- p.v / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Related Works in the Literature --- p.4 / Chapter 3 --- The Model --- p.8 / Chapter 3.1 --- The Basics --- p.8 / Chapter 3.2 --- The Investment Decision --- p.10 / Chapter 3.3 --- The Public Sector --- p.11 / Chapter 3.4 --- The Constraints Combined --- p.11 / Chapter 4 --- Autarky --- p.13 / Chapter 5 --- The Small Open Economy --- p.15 / Chapter 6 --- The World Economy --- p.19 / Chapter 6.1 --- The World Economy under Symmetric Tax --- p.19 / Chapter 6.1.1 --- Symmetric Steady States --- p.19 / Chapter 6.1.2 --- Stable Asymmetric Steady States --- p.21 / Chapter 6.2 --- The World Economy under Asymmetric Tax --- p.23 / Chapter 6.2.1 --- Stable Steady States under Asymmetric Tax --- p.23 / Chapter 6.2.2 --- Discussion --- p.27 / Chapter 7 --- Conclusion --- p.31 / References --- p.33 / Appendices --- p.34 / Proof of Lemma --- p.34 / Proof of Proposition 2 --- p.36 / Proof of Proposition 3 --- p.40 / Proof of Proposition 4 --- p.43 / Proof of Proposition 5 --- p.46 / Figure 1 - Dynamics - autarky --- p.58 / Figure 2 - Asymmetric tax - autarky --- p.58 / Figure 3 - Dynamics - small open economy --- p.59 / Figure 4 - Asymmetric tax - small open economy --- p.60 / Figure 5 - Asymmetric tax - world economy --- p.60 / Figure 6 - Equality of nations in asymmetric tax --- p.60 / Figure A. 1 for Proof of Proposition 4 --- p.61 / Figure A.2 for Proof of Proposition 5 --- p.61 / Figures A.3-A.4(d) for Proof of Proposition 5 --- p.62 / Figures A.4(e)-A.5 for Proof of Proposition 5 --- p.63

This dissertation examines how contemporary narrative fiction in French and Spanish represents experiences of migration and the circulation of capital and goods in the globalized Atlantic. I argue that the attempt to imagine an increasingly globalized world has been accompanied by a waning interest in character development and an increased interest in what could be characterized as the spatial dimension of literature. Many recent `global fictions' present readers with impenetrable characters whose interiority is inaccessible. The lack of depth is, however, replaced by geographical breadth. As characters move through space, bringing into relation several different geographical locations, authors draw attention to transnational sites of marginalization and imagine alternative power configurations. Several important studies have examined the engagement of Francophone writers with globalization in the late 20th and early 21st century. While these readings are sophisticated and persuasive, they remain confined within the Francophone context, rarely establishing comparisons with the Anglophone and the Hispanophone contexts. We thus end up with somewhat contradictory concepts such as Francophone or Hispanophone transnationalism,`world literature' and globalization. This seems even more paradoxical given that several Francophone writers, including Maryse Condé and Edouard Glissant, have set their novels in non-Francophone countries. My dissertation undertakes translinguistic literary criticism in order to address this gap in critical discourse. I limit my focus to what I term the Atlantic world economy, that is, the countries touched by the Atlantic triangle and marked by a history of population displacement and cultural mixing inaugurated through colonial slavery. The authors I have selected position their work in the Atlantic framework. Some more explicitly, like Fatou Diome whose novel is entitled The belly of the Atlantic. Others, like Maryse Condé and Roberto Bolaño, by moving protagonists between some of the major centers of the Atlantic economy. They all, however, pose the question of a globalized Atlantic, distancing themselves from the Atlantic as a triangular space, and reframing it as a space encompassing many poles. The notion of the globalized Atlantic further underscores the tension between a regional framework and a globalized world within which these authors are operating. At the turn of the 21st century movements resisting the effects of global capitalism have come into existence in several countries, including Egypt, Chile, the United States, Brazil and Turkey. These modes of activism require us to recalibrate some of our geopolitical categories as a way of thinking about transnational citizenship. The authors in my corpus deploy literary strategies that complement the activism of global socioeconomic and political movements. This dissertation focuses on their imagining of narrative fiction as a space that is both globalized and resistant to the dominant political and economic dimensions of globalization.

Over the past decade, the topic of globalization has infiltrated both public and academic debates. The aim of this dissertation is to investigate whether the growth in the discussion of globalization is justified by an equivalent increase in the interaction of economies. The focus of this dissertation is on economic globalization and specifically how it affects Canada. Evidence of cross-border 'flows' is presented in three parts. One, the trade of goods is traced from Confederation (1867) to the present, showing that contemporary levels of trade are not unprecedented. Furthermore, the data reveal that the bulk of the increase in Canada's trade since the Second World War has been with the United States. There are also strong indications that as the economy is becoming more service oriented, it will also become less trade dependent. Two, statistics on foreign direct investment (FDI) reveal that foreign ownership in Canada is at an all-time historical low. Three, the stock of portfolio investments (stocks and bonds) owned across borders is also not, historically speaking, at particularly high levels. Overall, when foreign direct and portfolio investment are combined, the data show that only a small percentage of Canada's wealth is owned by foreign investors and, likewise, only a small portion of Canada's wealth is located outside of its borders. Another claim found in the globalization literature is that the nation state is weakening or disappearing altogether. However, once subjected to scrutiny, this claim, too, is difficult to sustain. Government expenditures have increased dramatically since the Second World War and show few signs of abating. For the fiscal year 1996/97, government expenditures amounted to approximately half of the Gross Domestic Product (GDP), indicating a general levelling of expenditures since the mid-1970s. More importantly, the globalization literature has unfailingly ignored the welfare-state side of government spending, arguably the most significant development in the political economy of the nation state in the 20th century. To bridge this gap, three sectors of the welfare state — education, health, and social services — are examined in detail. Lastly, an alternate explanation for globalization is put forward. Capital, it is argued, has made a concerted attack on the welfare state, utilizing high interest rates and high unemployment to discipline labour. Although having suffered a few scratches and dents as a consequence, the welfare-state has resolutely endured.

The thesis responds to Richard O'Brien's pronouncement that geography is rapidly losing purchase as an explanation of the structure of global financial markets. I suggest that O'Brien is in error. Drawing on the work of Gordon Clark and Kevin O'Connor, I argue that financial products have logical, geographical outcomes, predicated on different informational requirements. 1 consider one particular financial product, venture capital. Interviews with financial professionals in Vancouver demonstrate that venture capital has a distinctly local geography of production. Market participants cluster in Vancouver to maximise access to, and interpretation of, information regarding venture companies. Contrary to the obliteration of geography, I argue for its continued importance, represented by the existence of smaller financial hubs, such as Vancouver, and which act as information niches for specific financial products. Further, the thesis suggests that the services involved in the production of venture capital also have distinct geographies. Services have logical locations, dictated by their informational requirements. I consider three services involved in the production of venture equities: trading, corporate finance, and sales. Contrasting the periods 1970-1990, and 1990 to the present, I argue that, because of their informational compositions, the three services had divergent experiences of technological and regulatory change. In the period 1970-1990, all three functions were informationally bound to the city. Traders and salespeople required up-to-the-minute market data, and this demanded a presence near the Vancouver Stock Exchange. Financiers prioritised information about promoters and directors of venture companies, and assembled this through face-to-face interaction in Vancouver. Since 1990, however, the geographies of trading, corporate finance, and sales have been re-made. As up-to-the minute market information was automated and rendered almost ubiquitous, trading and sales functions benefited from increased locational flexibility. Traders centralised, while salespeople decentralised, locating closer to their clients. The location of financiers, by contrast, changed very little. Still dependent upon interaction with directors of venture companies, financiers find a Vancouver location most convenient.

This thesis is a discussion on whether every sector of human activity really is or needs to be 'global'. It discusses the impact that economic globalization has on the role of the nation-state and on the concept of democracy, at both local and international levels. Particular emphasis is put on some of the democratic challenges associated with dispute settlement at the WTO and also under foreign investment international instruments. It is argued that increased participation by non-state actors, particularly NGOs, in state-to-state and in investor-state arbitration threatens to weaken the arbitration process and does little to remedy alleged democratic deficiencies. The author concludes that many democratic concerns regarding these types of dispute settlement processes may be better addressed by strengthening national democracies. Increased public information, consultation, and participation in the shaping of foreign policy could reduce much of the criticism concerning both, international dispute settlement and decision-making.

This thesis examines how globalization poses immediate and long-term challenges and opportunities for small towns and, as a consequence, for local economic development policy. The authors' perspectives raise vital questions about the shape, substance, and function of small towns in an increasingly interdependent and competitive global economy. The thesis provide both retrospective and prospective insights into the ways in which poverty, industrial migration, economic globalization, and technological innovation affect public-sector choices for small towns approaching the turn of a new century. The central theme emerging from this thesis is that the responses of the past will not necessarily provide a path to the future. Cities must innovate and adapt when seeking solutions to problems caused by rapid changes in their environment. Flexibility and creativity are key to designing public policies to deconcentrate poverty, increase opportunity, and furnish a better quality of life. For example, the continuing loss of jobs and population in many large cities can be reversed only with public policies that profit from the emerging global economy. Cities must strategically adapt to the information age by mobilizing public and private resources to be successful in the new, highly competitive economic environment by coming up with new locally designed economic development interventions in what has been termed local economic development (LED). LED in South Africa's small towns will be driven increasingly by forces of global economic interaction in the 21st century. Whereas the export sector is thriving, international trade and investment creating more and better paying jobs for developed, better-prepared regions, South Africa's small towns have yet to adjust quickly to these and other international forces. As they are unable to grow and prosper, and take advantage of global economic benefits, they are currently faced with numerous challenges of improving their local economic system to attract international investment, provide services and infrastructure to support globally competitive firms, and develop stronger entrepreneurial and technological capacity among small and medium-size companies. Local economic development and community action are essential to expanding and modernizing urban and rural infrastructure, strengthening mechanisms of community cooperation within small towns and fostering public-private partnerships to expand opportunities for employment. Demands for integrating the poor into economic activities has proven to be a vital element of local economic development that build on business-oriented approaches to community development. Using a combination of qualitative and quantitative methodologies (triangulation), data was collected within the framework of participatory approach to social enquiry. Findings of this thesis provided a new perspective in dealing with local economic development and market failure. They also show that not all is worse, as community driven and locally designed economic regeneration programmes provide an alternative to global economic growth. / Thesis (Ph.D.)-University of KwaZulu-Natal, [2005?]

This study investigated the effects of globalisation on the empowerment of women in middle management positions. The first aim of the study was to determine the effects of globalisation on the empowerment of women in middle management. The second aim of the study was to establish if there is a correlation between perceptions of globalisation and empowerment for women in middle management. The third aim of the study was to describe the perceptions of women in middle management of globalisation. Globalisation and empowerment scales were used to achieve the objectives of the study and to measure the impact of globalisation on women. The measuring instruments were administered to groups of women in middle management. Fifty questionnaires were analysed. The sample consisted of twenty-five (25) respondents of women from private and twenty-five (25) from public organisations. The results of the factors analysed according to the aims of the study were as follows: • That there were significant differences between women in the private and the public sector with regard to perceptions of both globalisation and women's empowerment and that there were more women in the private sector than in the public sector who were positive about both the globalisation and women's empowerment. • That there was a significant positive correlation between women's perceptions of globalisation and empowerment. • That women from both sectors agreed that globalisation had a positive effect on their social, political and economic lives. That there was a need to provide women with self empowerment and training programmes that will equip them with the necessary skills so that they may occupy senior positions and be able to a make a meaningful contribution to the decision making process. / Thesis (MBA)-University of Natal, Durban, 2001.

Stock market linkages have implications for portfolio diversification, asset pricing, monetary and regulatory policy as well as financial stability. This study examines the extent to which African stock markets are linked using daily data for the period 2000-2010. The study is divided into three main parts each focussing on the ways in which integration of the stock markets can be viewed. Firstly, we analyse the long run co-movement of the stock markets using both bivariate and multivariate Johansen (1988) and Johansen and Juselius (1990) cointegration approaches. Secondly, we analyse returns linkages using Factor analysis and the Vector Autoregressive (VAR) models. In the Factor Analysis model, we used two extraction methods, namely Principal Component Analysis and the Maximurn Likelihood technique. The VAR model was extended with impulse response, variance decomposition and block exogeniety. Thirdly, we analyse the behaviour of volatility and the volatility linkages among the stock markets. We initially analysed and modelled volatility in each stock market using the GARCH, EGARCH and GJR GARCH and then examined the long-term trend of the volatility. Conditional volatility series for each country were then estimated using the most appropriate model and were analysed using VAR, block exogeniety, impulse response and variance decomposition to determine the extent of their linkages. The findings of the study are as follows: Both the bivariate and multivariate models found slim evidence of cointegration amongst the stock markets, suggesting that there were opportunities for portfolio diversification for investors. In general, the financial crisis had very little impact on the long-run relationships of the stock markets. Results for the returns linkages showed that there were limited retums linkages with the exceptions of South African-Namibia and Egypt-Morocco to a lesser extent. South Africa was found to be the most endogenous, whilst Ghana and Nigeria were the most exogenous on the continent. We regards to volatility, we found that it was asymmetric and persistent across all the stock markets with long term trend of volatility showing that it significantly increased for most of the markets. Finally, there were limited volatility linkages, only between South Africa, Egypt and Namibia, implying that African stock markets are still largely segmented from each other. However, the linkages between South Africa and Egypt could have negative effects as they could lead to the spread of contagion effects during times of crises. Therefore, policymakers should consider revising and improving policies to enhance economic integration on the continent.