The Effect of Economic Policy Uncertainty on Foreign Direct Investment in the Era of Global Value Chain: Evidence from the Asian Countries

The global value chain has promoted foreign direct investments in emerging markets. Not only resources but also public policies can affect the inflows or outflows of foreign direct investments (FDI). This study investigates the effect of economic policy uncertainty on net foreign direct investment inflows in 48 Asian countries. We use the panel dataset from different sources from 1995 to 2020. Our core dependent variable is net foreign direct investment inflows, and the explanatory variable is economic policy uncertainty. The study's control variables include trade, GDP per capita, GDP growth, population, financial development, inflation, and employment. We use the generalized system method of moment (SYS_GMM). Furthermore, the robustness of our empirical results is checked by using the different proxy variables of policy uncertainty. Our results confirm the negative effect of policy uncertainty on foreign direct investment inflows in 48 Asian countries. Our results show that foreign investment inflows are more sensitive than domestic investment. The influence of domestic and global uncertainty on inward FDI is greater than domestic investment. Furthermore, the interaction effect of financial development (FD) shows that FD does not affect mitigation of the negative impact of global economic policy uncertainty on foreign investment inflow. In contrast, FD mitigates the adverse effects of domestic policy uncertainty on foreign and domestic investment. The findings imply that policies need to be attractive, effective, and transparent to woo FDI to the emerging markets.

The growth of unproductive labour and the new crisis of management: the case of Australia

Purpose>Management history has long acknowledged the existence of unproductive labour. Despite becoming unfashionable in modern times, the growth of unproductive labour within the economic composition of Australia’s labour force, witnessed since the late 1980s, brings to the fore old debates with a modern resonance, debates as to how and when labour contributes to economic growth. Using Australia as a case study, this paper aims to explore the economic cost increasing rates of unproductive labour, typically associated with government-imposed regulation, may have upon an organisation, and more broadly society.Design/methodology/approach>This paper explores the theoretical frameworks developed by classical and neoclassical economists on the subject of productive and unproductive labour and uses key elements to explain the economic consequences of the current labour economy and regulatory environment that exists within modern Australia.Findings>It is the growth of unproductive roles within the Australian economy since the late 1980s that contributes not only to the rising cost of employing domestically and the rising cost of living, but furthermore, to the fragility of Australia’s long-term economic security.Originality/value>Australia’s economy is bound by chains of regulation. No longer does productivity fuel a growing economy, but rather, economies are powered by the rein of unproductive labour – labour that does not produce value but rather, consumes it. Unproductive labour is not a “dusty museum piece”. Rather, it is a defining characteristic of modern Australia, one that impacts immensely the cost of domestic business, and ultimately, society and the cost of living.

NEGATIVE CONSUMER EXPERIENCES IN ONLINE SHOPPING

Online shopping is an increasingly common way of purchase that allows consumers to access the desired products and services through various online channels without additional effort and distraction. It is characterized by simplicity and low cost, and the ability to make purchases 24 hours a day, every day of the week. Online shopping is characterized by the wide availability of different product categories, and the ability to compare prices of products and services among different producers. These benefits have prompted many retailers to move their business to an online environment. Even though retailers are aware of the importance of maintaining an adequate products and services quality, and also good communication with consumers, there are still frequent examples of inappropriate approaches by retailers, including online commerce. Therefore, consumers publish their experiences related to online shopping on social networks, various forums, retailers' websites, and specialized sites, especially negative ones, so that other consumers can adequately respond to the experiences of previous consumers. The purpose of this paper is to present the most common forms of negative consumer experiences in the field of online shopping. Qualitative research was conducted using nethnography technique. Social networks and forums with consumer comments were analysed. The most relevant comments were categorized into groups. Majority consumer complaints were related to the: order cancellation under certain conditions unfavourable for the retailer or no reason, no refund, delivery of used products as new, delivery of damaged products or only part of the order, etc.