International Journal of Trade and Global Markets (38 papers in press)

Regular Issues

• Modelling of a regional industry specialisation: the impact of agglomeration economies on labour productivity  
  by Angi Skhvediani, Sergey Sosnovskikh, Tatiana Kudryavtseva, Stella Nalwanga 
  Abstract: Localisation economies are known to boost the regional economy and its growth potential. The emergence of these effects is due to localised knowledge flows, the closeness to markets, and the diversity of services and industries. Localisation economies have the potential to increase the productivity of firms. While many studies have been conducted at the industry or regional level, this paper adds to the existing literature by investigating the impact of agglomeration economies on labour productivity with the case of Russian regions during the period 20092018. Our findings suggest contradicting results toward existing studies. We have found a negative impact of externalities on labour productivity. This is due to the Russian business and economic peculiarities and institutional factors, such as disrupted territorial-industrial complexes, uncompetitive industries, under-developed infrastructure, and lack of state funding.
  Keywords: agglomeration effect; government; industrialisation; industrial cluster; innovation; investment; labour productivity; localisation economy; manufacturing sector; regional economy; Russia.
  DOI: 10.1504/IJTGM.2022.10047538
   
  
• Digital future of international trade in the global markets of intellectual resources: labour mobility and automation based on smart technologies  
  by Yelena S. Petrenko, Igor V. Denisov, Aglaia D. Busalova, Emil Velinov 
  Abstract: The purpose of this paper is to develop a methodology for assessing the efficiency of world trade in the global markets of intellectual resources, to test it through the example of developed and developing countries, as well as to identify the prospects for improving the efficiency through optimisation of labour mobility and automation based on smart technologies. The originality of the paper is consideration of intellectual resources while laying the emphasis on their complex internal structure and distinguishing between labour mobility and automation based on smart technologies. The testing of the methodology through the example of the top 5 OECD countries in terms of the level of development of digital knowledge and the BRICS countries in 2020 has shown that high efficiency is only inherent, for example, in US (48.41 points). In Sweden (9.75 points), the efficiency is moderate, while in developing countries (excluding China) it is low e.g., 2.66 points in Russia.
  Keywords: aid for trade; world trade; global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; digital future; labour mobility; automation; smart technologies.
  DOI: 10.1504/IJTGM.2022.10052464
   
  
• Management of non-performing assets in India: role of risk management practices in the wake of COVID-19  
  by Dolly Gaur 
  Abstract: The purpose of the present study is to analyse the impact of banks internal practices for risk management, Basel III regulations, Insolvency and Bankruptcy Code (IBC), 2016, and COVID-19 pandemic on the outcome received in reference to NPA management. The study has worked on primary data collected from the final sample of 111 managerial employees working in domestic commercial banks of India, using a structured questionnaire. For analysing the collected data, statistical tools of exploratory factor analysis (EFA) and structural equation modelling (SEM) comprising of confirmatory factor analysis (CFA) and path analysis, have been used. The results indicate that the banks internal practices for risk management, regulatory standards and IBC, 2016 are beneficial for the asset quality of banks. On the contrary, emergence and rapid spread of COVID-19 has made the situation of NPA worse and have halted the progress made in NPA management.
  Keywords: NPA; non-performing assets; risk management practices; Basel III; insolvency and bankruptcy code; 2016; COVID-19.
  DOI: 10.1504/IJTGM.2022.10052681
   
  
• A dominant-duopoly competitive-fringe model of the world soybean export market  
  by Azzeddine Azzam, Sunil Dhoubhadel 
  Abstract: The Herfindahl index of US and Brazil soybean export concentration declined between 1980 and 2005, stabilised until 2010, and rose afterward. To the extent that concentration shapes conduct, the question this paper explores is the degree to which conduct has transitioned from one regime to another as concentration changed. For methodology, we formulate an empirically implementable dominant-duopoly competitive-fringe model and combine it with a switching regression technique to determine if there are critical concentration levels at which the transition in conduct occurred. While we do find a critical soybean export concentration level, we are not able to reject competition.
  Keywords: world soybean trade; dominant duopoly; market power; switching conduct.
  DOI: 10.1504/IJTGM.2023.10053487
   
  
• What do Macroeconomic Composite Indexes say about Indonesia's Economic Networks?  
  by Kiki Verico 
  Abstract: Every country always tries to put its best efforts into being competitive in trade and long-run investment globally, as both the surplus in trade and long-term investment is necessary for accelerating economic growth. This paper attempts to construct composite indexes to measure the bilateral economic relations degree between Indonesia and its major economic partners and define potential economic networks in trade or long-run investment. This paper transforms 17 macroeconomic indicators into 15 composite indexes used to analyze bilateral economic relationship degrees and describe trade and long-term investment patterns afterward. This paper takes 17 of Indonesia's major trading partners, covering more than 80 percent of Indonesia's export value. The novelties of this paper are showing bilateral economic relationship degrees between Indonesia and each of its selected major trading partners, describing their production network patterns, and supporting Indonesia's potential sources of economic growth.
  Keywords: Macroeconomic Indexes; International Trade; Long-Term Investment; Global Production Networks (Global Outlook); International Economic Integration; Indonesia.
  DOI: 10.1504/IJTGM.2023.10054313
   
  
• CEO Characteristics and CEO’s Power and their Impact on Earnings Per Share: The Moderating Role of the Political Connection  
  by Khaldoon Aldaoud, Deaa Alsraheen 
  Abstract: The Chief Executive Officer (CEO) has been deemed one of the essential governance mechanisms that play a key role in guiding the company's strategies. This paper examined whether CEO political connections are relevant to the relationship between CEO power and earnings per share (EPS). The study also investigated the influence of CEO narcissism, tenure, and duality on (EPS). The sample data comprised a panel dataset of 392 firm-year observations from Jordanian-listed companies from 2014 to 2020. The three CEO characteristics were used as a composite index of CEO power, which was a vital contribution to this study. The study found that CEO narcissism, duality, and power positively and significantly impacted EPS, while tenure had an insignificant negative influence on EPS. CEO political connections positively moderated the relationship between CEO power and EPS. The paper contributed to the literature by examining the impact of CEO narcissism and political connections on EPS.
  Keywords: Keywords: CEO narcissism; CEO tenure; CEO duality; CEO power; Earnings per Share and Jordan.
  DOI: 10.1504/IJTGM.2023.10054314
   
  
• The Linkage of OFDI Between Exports and Employments: Evidence From Manufacturing Sectors in South Korea  
  by Mengzhen Wang, Baek-ryul Choi 
  Abstract: To test the direct employment impact of OFDI and the indirect employment impacts of OFDI through affecting exports, we collect Korean manufacturing data from 2001 to 2019. The results reflect opposite indirect employment effects of OFDI through affecting exports when market-seeking OFDI flows to the Asian region and OECD countries, even though OFDI itself reduces manufacturing employment. In OECD countries, foreign markets growth leads to increase exporting of domestic goods, thus enhancing employment. The Asian region is favorable to act as a production base or export platform by taking over the Korean productive activities transferred overseas, thus replacing direct exports.
  Keywords: FDI; Employment; Exports; System GMM.
  DOI: 10.1504/IJTGM.2023.10054315
   
  
• Examining the impact of effective government stimulus packages amid COVID-19 pandemic in UAE: An input-output analysis  
  by Tahira Yasmin, Ghaleb A. El Refae, Shorouq Eletter 
  Abstract: The Coronavirus pandemic as (COVID-19) has not only caused the infectious disease and harm the human life But it has further sparked fears of great recession due to global lock down with no economic activities Current paper examines the impact of current pandemic and relevant stimulus packages on UAE economy by using input-output analysis This study considered the UAE stimulus packages consists of fiscal and monetary support as AED 26 5 billion and AED 100 billion respectively Overall, results show that these measures have positive effect on overall sectoral output With the increase in production, it is estimated that this will further lead to a per annum increase of 2 9% of GDP in coming four years’ time We also highlight that due to oil market challenges and uncertainty the non-oil growth has paramount importance in UAE economy.
  Keywords: COVID-19; UAE Stimulus Packages; Monetary Policy; Fiscal Policy; Input-output analysis; non-oil growth.
  DOI: 10.1504/IJTGM.2023.10054316
   
  
• Employment in manufacturing in the context of Industry 4.0 concept  
  by Gra?yna W?grzyn 
  Abstract: The main aim of the study is to obtain new empirical results regarding the relationship between the employment structure in manufacturing and the degree of industrial robots use The research concept involves studying the employment structure in its two aspects: by sex (women, men) and by age (15-24 yo, 25-49 yo, 50-64 yo). While pursuing the research objective thus formulated, the following hypothesis was put forward: The use of industrial robots reduces the share of young people, especially men, in the total employment in manufacturing. The time range covers the years 2011-2018 All the new technologies that make up Industry 4.0 accelerate industry transformation processes, additionally transforming the labour market, the business management methods and the structure of the goods and services market. The demand for young people's work only increased in countries that present a low robotization rate and an outdated structure of manufacturing activity.
  Keywords: Industry 4.0; employment: manufacturing; industrial robots.
  DOI: 10.1504/IJTGM.2023.10054317
   
  
• How can Indonesian businesses survive during pandemic using new learning organisation?  
  by Dewi Handayani, Jann Hidajat Tjakraatmadja, Achmad Ghazali 
  Abstract: The COVID-19 pandemic has brought about changes in how people work, especially in how employees coordinate and collaborate with all stakeholders. In our preliminary empirical research aim, we therefore examined how companies have coped with the sudden changes induced by the pandemic, particularly by exploring challenges with and solutions for maintaining the practices of new learning organisations (NLO) and knowledge sharing in Indonesia during the COVID-19 era. We collected primary data from semi-structured interviews with 28 employees in thirteen industries in the Indonesian provinces. Interview questions addressed the six elements of NLOs and their challenges during large-scale social restrictions. The findings show that NLOs could be optimally implemented if the organisations have already fulfilled the prerequisite of having a digital transformation culture in place, which requires digital leadership.
  Keywords: New learning organization; knowledge sharing; digital communication; digital trust; digital culture; digital leadership.
  DOI: 10.1504/IJTGM.2023.10054318
   
  
• Current Sustainability and Future of the Eurasian Economic Union  
  by Nurlan Nurseiit 
  Abstract: The purpose of this article is to study the current situation and prospects for the future of the EAEU, since its total trade turnover decreased by 25.8% between 2014-2020. The assessment of foreign trade in the EAEU countries was based on an analysis of its overall dynamics and structure for 2015-2020. To assess the stability and success of the union, the method of calculation of the nominal and real convergence was used. Only new members of the EAEU show a clear trend towards nominal and real convergence, but not old ones. The process of divergence began to manifest itself at an earlier stage than in the EU, mainly for political reasons. Despite the favorable conditions, the prospects for the future of the EAEU are uncertain, which is due to the more political nature of this organization. Revealing the nature of the EAEU helps to predict its development and the situation between the participating countries in the future.
  Keywords: EAEU; international trade; sustainability; convergence; divergence.
  DOI: 10.1504/IJTGM.2023.10054436
   
  
• Bitcoin connectedness to traditional asset classes in times of COVID-19  
  by Chaker Aloui, Muhammad Saeed Meo, Hela Ben Hamida, Mohammad Ashraful Ferdous Chowdhury 
  Abstract: in this paper, we analyze the impact of COVID-19 announcements on the volatility spillovers between the Bitcoin cryptocurrency and other leading financial and physical assets including oil, Gold, dollar currency prices and stocks .Our results reveal positive and weak dependence of the Bitcoin to all the asset classes except the dollar currency price during the COVID-19 pandemic .The occurrence of the recent health crisis seems to strengthen the Bitcoin connectedness. Furthermore, the COVID-19 related announcements are increasing the power of the Bitcoin correlation and have no significant effect of the correlation volatility during the COVID-19 time When resorting to the wavelet analysis, we uncover consistent results and a substantial varying pattern of the Bitcoin-asset class correlations over time-scales and
  Keywords: COVID-19 announcements; Bitcoin; oil; Stock; Gold; F.X. rates; Multivariate GARCH; multiple and partial wavelets.
  DOI: 10.1504/IJTGM.2023.10055492
   
  
• R&D investment, Corporate Social Responsibility Disclosure and Firm’s Green Innovation Performance: Evidence from China  
  by Fawad Rauf, Qi Baolei, Wang Wanqiu, Cao Na, Khwaja Naveed 
  Abstract: Given the contesting empirical literature on the relationship between Research and Development (R&D) investment and firms’ Green Innovation performance (GIP), the current research is a unique study to look at the moderating effects of CSRD on this relationship. We used data set of 3,248 firm-year observations of A-share listed firms in China from (2012-2020). The CSRD issued by CSMAR is used to measure CSR information. The Corporate GIP of a firm is considered and measured by examining the total number of green patents. Finally, multiple regression and fixed effects models were used. The results reveal that CSRD has an affirmative and significant impact on the relationship between corporate GIP and R&D investment which implies the compensatory and supportive role of CSR strategies in shape of green signals in the green outcomes. This research could support managers and policymakers of underdeveloped nations in establishing environmental innovation strategies for corporate sustainability.
  Keywords: Green Innovation Performance (GIP); Research & Development (R&D) Investment; Corporate Social Responsibility Disclosure (CSRD).
  DOI: 10.1504/IJTGM.2023.10055723
   
  
• Migration and export performance: The role of the diaspora remittances  
  by Luis Pacheco, Isabel Maldonado, Carla Lobo 
  Abstract: Migration and international trade represent two fundamental and interconnected aspects of globalization. This paper studies the impact of migration on bilateral trade, using data for remittances as a proxy for migrants in an augmented panel data gravity model framework. Using data for Portuguese bilateral trade with 187 countries for the period 2008-2017, and controlling for other determinants of trade through a standard gravity model, we find that there is a significant impact of remittances on bilateral trade both in terms of exports and imports, particularly regarding some specific types of goods. The evidence of a significant relation between migration and trade has important implications, since it can provide policymakers an alternative option to promote trade and internationalization beyond conventional trade policy.
  Keywords: Migration; Internationalization; Gravity model; Remittances; Diaspora.
  DOI: 10.1504/IJTGM.2023.10057706
   
  
• The Silver Generation on the Labour Market in Poland  
  by Magdalena Knapi?ska 
  Abstract: The aim of this paper is to analyse and assess the position of 50+ individuals on the labour market. In the face of the changing legal regulations on retirement age, the ways of calculating pension benefits, or the increasingly longer timespan of one’s full efficiency in terms of professional work and private life, it seems interesting to look at the “silver generation” who remains active on the labour market beyond retirement age. This paper presents the quantitative aspects of this age group and the circumstances of their engaging in occupational activities. The main conclusion of the research indicated that professional activity and income levels decrease with age, and part time employment increases. Therefore, the state policy is insufficient and must be directed at incentives to employ people aged 50+, as well as at improving the ratio of the average retired pension to the average salary.
  Keywords: labour market; silver economy; occupational activity; labour market policy; pensions and wages.
  DOI: 10.1504/IJTGM.2023.10057707
   
  
• An Exploratory Study of Incoterms  
  by John Vogt, Jonathan Davis 
  Abstract: The research focuses on the usage of the Incoterms
  Keywords: Trade; Incoterms®; Logistics; Buyer-Seller relationship; Supply Chains; Global Markets.
  DOI: 10.1504/IJTGM.2023.10057715
   
  
• The Impact of Investment on Environmental Quality: Evidence from Indonesian Provinces  
  by Irwan Trinugroho, Aldy Fariz Achsanta, Putra Pamungkas, Sajidan Sajidan 
  Abstract: The impact of foreign direct investment (FDI) on environmental degradation has been a main issue in the investment-environment nexus. FDI channeled to non-environmentally friendly industries most likely accelerate environmental degradation. We focus on investigating the effect of FDI on environmental degradation by examining FDI in Indonesia across provinces. To measure the severity of air pollution in each province, we use two proxies of environmental degradation: the Environmental Quality Index (EQI) and Air Quality Index (AQI). A panel data technique is applied to a panel of 34 provinces, resulting in 164 province-year observations employed in the empirical estimation. We also disentangle investment as the main explanatory variable, not only foreign but also domestic investment. Our results indicate that both domestic investment and FDI are positively associated with environmental degradation, implying that most of these investments are channeled into the sector with high negative externalities, resulting in a decline in environmental quality.
  Keywords: foreign direct investment; domestic investment; environmental quality index; air quality index; Indonesia.
  DOI: 10.1504/IJTGM.2023.10057716
   
  
• Enhancing Customer Experience AI-Chatbot: Servicy Quality, Emotional Inteligence, and Personalisation  
  by Minh Le, Minh Khoi Nguyen, Trieu Khang Tran, Hoang Nghi Vo, Thanh Ngan Nguyen, Duc Dao 
  Abstract: Services directly serving customer that are applied and powered by AI appear more and more in different areas of life such as healthcare, education, finance - banking, retail, tourism, e-commerce, etc The lack of review studies on the impact of AI on customer experience as a commercial service is the basis of the research team's ideas and choice of implementation This study aims to analyze how the integration of AI in commercial services can lead to impact and improve customer experience 335 online responses were collected and used structural equation model to analyse data The findings show a significant knock-on effect of AI service quality perception, AI customer satisfaction, and customer experience In addition, the findings point to the important role that personalization of AI-powered services plays in influencing customers' trust and commitment to maintaining a relationship with a brand, thereby enhancing the customer experience.
  Keywords: Customer Satisfaction; Customer Commitment; Trust; AI Security System.
  DOI: 10.1504/IJTGM.2023.10058887
   
  
• Impact of Economic Development on Corruption in ASEAN Countries: Panel Non-linear Model  
  by Tiang Jang Haw, Jerome Kueh, Rayenda Khresna Brahmana, Yong Sze Wei 
  Abstract: This study examines nexus between corruption and economic development of the Association of Southeast Asian Nations (ASEAN) countries based on the annual panel data of all 10 ASEAN countries covering the period from 1996 to 2018. Empirical evidence implies there is a significant quadratic and cubic relationships between economic development and control of corruption of ASEAN countries. Corruption rises in a country with a lower level of income, but corruption declines when its income level increases, and finally, it is discovered that corruption slightly upsurges even when the country attains a higher level of income. With the establishment of an empirical study on the corruption-growth relationship in ASEAN, it can contribute a continuum of research and raises awareness to building a better governance environment at all levels.
  Keywords: Corruption; Economic development; Quadratic; Non-linear.
  DOI: 10.1504/IJTGM.2023.10059292
   
  

Special Issue on: 14th National Scientific and Practical Conference A New Paradigm of Socio-Economic Development in the Age of Intellectual Machines 2020 Development of International Trade in Glob

• Big data and the Internet of Things as milestones of development of international trade in hi-tech markets based on intellectual machines: financial barriers and solutions to overcome them  
  by Anna V. Bodiako, Svetlana V. Ponomareva, Tatiana M. Rogulenko, Sergei V. Shkodinsky 
  Abstract: This paper aims to determine clear target milestones of the progress of big data and the Internet of Things for the purpose of development of international trade in hi-tech markets and to determine financial barriers on the path of distribution of intellectual machines and solutions to overcome them. Originality of this paper consists in the following: attention is paid to a new, insufficiently studied, aspect of managing the development of international trade in hi-tech markets based on intellectual machines. The advantage of this research is generalization and systematization of the experience of developed and developing countries. We suggest a variable scenario analysis for developed and developing countries separately. This allows developing flexible milestones of development of international trade in hi-tech markets based on intellectual machines.
  Keywords: international trade; global market; manufacturing innovation; industrial innovation; inclusive innovation; intellectual machines; Big data; Internet of Things.
  DOI: 10.1504/IJTGM.2023.10054312
   
  
• Cross-border market of intelligent machines as a vector of development of global trade in high technologies: a view from the perspective of competition and marketing  
  by Nadezhda K. Savelyeva, Anastasia A. Sozinova 
  Abstract: The purpose of the article is to study the prospects of intensifying the cross-border market of intelligent machines as a vector of the development of global trade in high technologies based on competition and marketing. The originality of the article is the study of the cross-border market of intelligent machines from the point of view of its contribution to the development of international trade in global markets. The novelty of the article is to take into account the experience of countries with different income levels. The uniqueness of the research is a new view of the cross-border market of intelligent machines - from the standpoint of competition and marketing.
  Keywords: aid for trade; global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; cross-border market; development vector.
  DOI: 10.1504/IJTGM.2023.10054355
   
  
• Dialectics of the Evolution of Economic Systems  
  by Aleksei Y. Arkhipov, Valentin N. Kurochkin, Sergei G. Goriainov, Mikhail V. Grechko, Mikhail A. Stasev 
  Abstract: The contemporary world is complex, contradictory, fraught with changes. The reasons behind these changes are systemic contradictions that can be interpreted as necessary and sufficient conditions for the evolutionary development. In order to study high-quality mechanisms of the evolutionary development, conditions for the emergence of a new economic system, the operation of complex semistructured economic systems, the dialectical analysis is needed. The system structure is a set of elements of subsystems and structural ties occurring between them: means of coordination; ownership relations; types of reproduction; means of distribution or redistribution of income. The use of the dialectical approach, supplemented by the mechanism of motion of a certain amount of entropy and bifurcations, makes it possible to comprehend the dialectics of the “decline” of old economic systems and the “genesis” of new economic systems, as well as the complexity of their non-linear transformations.
  Keywords: system; evolution; dialectics; systemic contradiction; economic system; structure; mechanism of operation; dynamics of development; productive forces; relations of production; entropy.
  DOI: 10.1504/IJTGM.2023.10057717
   
  
• The consequences of implementing tax instruments for the Russian economy during the pandemic  
  by Irina V. Gashenko, Irina Orobinskaya, Yuliya Zima, Yulia A. Kruchanova 
  Abstract: This paper seeks the goal of studying the international experience and the consequences of implementing tax instruments during the COVID-19 pandemic in 2020 and developing recommendations for optimization of the national tax policy in Russia in 2021 and the following post-pandemic period. Originality of this paper consists in systemic consideration of tax instruments and thorough study of the consequences of their application for the state, business, and society. This allows for the full-scale evaluation of the consequences of implementing tax policy during the pandemic and offering complex recommendations for its optimization. Novelty of this paper consists in consideration of special conditions of the COVID-19 pandemic and the specifics of the effect of the traditional tax instruments in non-standard conditions. Uniqueness of the paper is due to consideration of Russia’s case study and the quantitative and qualitative research.
  Keywords: aid for trade; international trade in global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intellectual machines; taxation; tax policy.
  DOI: 10.1504/IJTGM.2023.10057718
   
  
• International education and export of educational services in the age of intelligent machines: from training of digital personnel to machine learning  
  by Veronika V. Yankovskaya, Mikhail Y. Zakharov, Liliya A. Kripakova, Tatiana V. Panova 
  Abstract: The goal of this paper is to find out the specifics and to substantiate various strategic approaches to increasing the export of educational services and international education in the age of intelligent machines based on training of digital personnel and machine learning, as well as to develop recommendations on practical implementation of these approaches during the COVID-19 pandemic and crisis Originality of this research consists in consideration of the digital context
  Keywords: international trade; global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; international education.
  DOI: 10.1504/IJTGM.2023.10057719
   
  
• Diagnostics of the Financial and Economic Situation of the Power Industry Companies Amidst the COVID-19 Crisis  
  by Lubov I. Vanchukhina, Tatyana B. Leybert, Elvira ?. Khalikova, Yuliya R. Rudneva, Olga G. Kantor 
  Abstract: In the modern world, there is a general transformation of the branches of the world economy, mediated by the influence of scientific, technical and socio-economic progress, covering all spheres of activity. The crisis phenomena of the XX-XXI centuries, including the 2020 pandemic, caused the formation and enhancement of the viral threat, which resulted the financial and economic distancing, destabilization and imbalance in various sectors of the world economy. The purpose of this paper is to analyze the diagnostics of the financial and economic situation of the electric power industry in the context of the cur-rent crisis phenomenon caused by the global COVID-19 pandemic, using the example of large world and Russian power generating companies: PJSC RusHydro (Russia), Hydro-Qu
  Keywords: energy industry; energy companies; financial crisis; financial and economic situation; financial indicators; virus threat; pandemic; COVID-19.
  DOI: 10.1504/IJTGM.2023.10057720
   
  
• Limits of Involvement of Intelligent Machines in Socio-economic Relations in Emerging Economies  
  by Elena A. Vechkinzova, Alexandra V. Ryattel, Aleksei A. Nabokikh, Elena Petrenko, Gaukhar K. Koshebaeva 
  Abstract: This paper aims at determining the correlation between objective technological and subjective social limits of the involvement of intelligent machines in socio-economic relations in emerging economies. Originality of this research is as follows: firstly, social and technological barriers are differentiated and studied separately for the first time. This allows for precise determination of the nature of the limits of involvement of intelligent machines in socio-economic relations in emerging economies and for substantiation of the best approach to dealing with these limits: either development of infrastructure or development of information society. Secondly, systemic analysis of the limits of involvement of intelligent machines in socio-economic relations in emerging economies with the help of the authors’ method of multicriterial evaluation is performed. Thirdly, the limits are considered not only from the positions of their influence on result but also from the positions of manageability.
  Keywords: economic policy; socio-economic relations; technological limits; social limits; intelligent machines; emerging economies; international trade; global markets.
  DOI: 10.1504/IJTGM.2023.10057721
   
  

Special Issue on: 14th National Scientific and Practical Conference A New Paradigm of Socio-Economic Development in the Age of Intellectual Machines 2020 Development of International Trade in Globa

• Intellectual economic growth in the “knowledge economy” as the basis for the development of international trade in modern global markets  
  by Anastasia A. Sozinova, Igor V. Denisov, Stanislav Ben?i?, Nikita O. Stolyarov 
  Abstract: The purpose of the article is to determine the contribution and develop recommendations for the management of intellectual economic growth in the "knowledge economy" for the development of international trade in modern global markets. The uniqueness of the article is achieved due to a new interpretation of the results of international trade in modern global markets, which involves taking into account international trade in goods, services and capital. The originality of the research is that for the first time, the contribution of intellectual economic growth in the "knowledge economy" to the development of general international trade in modern global markets is accurately quantified. It allows to identify the place and role of high-tech exports and exports of ICT services in increasing exports of goods, services and capital, and thus reveals the degree of intellectualization and knowledge of international trade in today's global markets, which remains unknown.
  Keywords: aid for trade; global trade; global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; intellectual economic growth.
  DOI: 10.1504/IJTGM.2023.10054354
   
  
• Marketing strategies for intellectual economic growth in the “knowledge economy” based on advanced industry technologies 4.0: domestic production, transnational networking or international trade  
  by Galina N. Semenova, Kirena G. Kelina, Sergei G. Vagin, Ekaterina A. Karelina 
  Abstract: The purpose of the article is to justify the preferred marketing strategies of intellectual economic growth in the “knowledge economy” based on advanced industry technology 4.0 for developed and developing countries. The originality of the article is explained by the fact that it for the first time presents a view of intellectual economic growth in the “knowledge economy” based on advanced industry technologies 4.0 from the point of view of corporate governance, not government. The novelty of the article is that it takes into account the experience of intellectual economic growth of both developed and developing countries, as well as various recommendations for them, taking into account their specific characteristics. The uniqueness of the article is explained by a fundamentally new view of intellectual economic growth in the “knowledge economy” based on advanced industry technologies 4.0 - from the point of view of marketing.
  Keywords: aid for trade; global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; marketing strategies; intelligent economic growth.
  DOI: 10.1504/IJTGM.2023.10054738
   
  
• Labor division and efficiency in the age of intelligent machines as a condition of financial effectiveness of international trade in global markets  
  by Aleksei Bogoviz, Alexander N. Alekseev, Svetlana Lobova 
  Abstract: This paper aims to determine the priorities of labor efficiency and division in the age of intelligent machines for increasing the financial effectiveness of international trade in global markets. Originality of this research consists in studying international trade in global markets from the positions of financial effectiveness; novelty is due to consideration of the specifics of developed and developing countries during international trade in global markets and development of the corresponding specific recommendations for maximizing financial effectiveness; uniqueness is due to considering the management of international trade in global markets through the prism of the influence of intelligent machines on labor efficiency and division, which allows developing flexible approaches to management in view of the specifics of developed and developing countries and allows guaranteeing high financial effectiveness for both categories.
  Keywords: global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; financial effectiveness; labor efficiency; labor division.
  DOI: 10.1504/IJTGM.2023.10054739
   
  
• The economic growth of the digital economy in the age of intelligent machines: the balance of domestic efficiency and global competitiveness  
  by Irina V. Reikhanova, Larisa Popova, Natalia Yu. Vlasova, Alla A. Semenova 
  Abstract: The purpose of this article is to develop methodological support for assessing the effectiveness of the digital economy in the era of intelligent machines from the point of view of economic growth, developing recommendations for improving it, as well as identifying internal and external consequences. The originality of the article is ensured by a balanced accounting and assessment of the internal and external efficiency of the digital economy in the era of intelligent machines. The novelty of the article is ensured by an in-depth study of economic growth, taking into account the share of high-tech industries in the structure of economic growth, labor productivity and its contribution to economic growth and international trade in global high-technology markets. The uniqueness of the research consists in considering the experience of both developed and developing countries, which allows for reliable characterization of the economic growth of the digital economy from an efficiency perspective.
  Keywords: manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; economic growth; efficiency.
  DOI: 10.1504/IJTGM.2023.10054740
   
  
• Neural Network Forecasting in Dairy Farming  
  by Gilyan V. Fedotova, Ivan F. Gorlov, Marina I. Slozhenkina, Natali I. Mosolova 
  Abstract: Purpose/objectives: the article is devoted to a study of dairy farming in the south of Russia. Methodology: to construct a forecast for the industry development, the online academic platform Deductor was applied and perceptrons of the cattle population were built on the basis of retrospective dynamics data on the total cattle population, dairy cattle population, and milk yield volume. Results: Evaluation of the predicted development of dairy farming in the Volgograd region with respect to 11 input parameters, using a neural network modeling tool, made it possible to present industry indices for 2022. Conclusions/relevance: the peculiarity of this work is testing a promising neural network forecasting technique under conditions of high stability, since all the considered parameters did not go beyond the confidence intervals of scatter diagrams, and the error values were zero for all intervals of the predicted values.
  Keywords: dairy farming; neural network forecast; dairy raw material; cattle population; dairy cows.
  DOI: 10.1504/IJTGM.2023.10054741
   
  
• The financial model of development of network corporate structures as the key subjects of international trade in global markets in the age of intellectual machines  
  by Vladimir S. Osipov, Elena B. Gerasimova, Elena A. Sulimova, Irina S. Antonova 
  Abstract: The goal of this article is to develop a systemic financial model of development of network corporate structures as the key subjects of international trade in global markets in the age of intellectual machines with the combination of the measures of state and corporate management and achievement of the advantages for business and economy on the whole. Originality and novelty of the paper consist in simultaneous consideration of international trade in global markets in the age of intellectual machines from positions of government and entrepreneurship. Application of the systemic approach allows achieving the synergetic effect: maximum advantages for business and economy from export.
  Keywords: economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intellectual machines; financial management.
  DOI: 10.1504/IJTGM.2023.10055925
   
  

Special Issue on: Post COVID Strategies Recovery, Resilience and Adaptation

• The Impact of Pandemic COVID-19 on the Indonesian Export and Import of Food Crops  
  by Adang Agustian, Rizma Aldillah, Imam Mujahidin Fahmid, Darmawan Salman, Wahyudi Wahyudi, Benny Rachman, Sri Hery Susilowati, Sumaryanto Sumaryanto, Chairul Muslim, Kurnia Suci Indraningsih 
  Abstract: During the pandemic of Covid 19 global economic growth including Indonesia decreases up to 5 to 6%. Trading volume decreases 9.2% and international cargo transportation decreases 23%. The objective of this article is to understand the impact of Covid-19 on the balance and position of Indonesian Food Crops international trade in ASEAN. Trade value balance for Indonesian food crops before the pandemic in average suffered deficit of USD 3.309.449. During the pandemic, the projection for the trade value balance is going to be deficit of USD 2.966.515. There is an optimistic potential of market share development for rice and maize in Malaysia, Thailand, and Vietnam due to the value’s position in falling star and rising star quadrant. To enhance competitiveness of food crop’s export, several policies needed are: incentives for cultivation, optimization of farmer institution, tariff regulation, quota system, and import license.
  Keywords: Covid-19 impact on export import value and trade balance; Competitiveness; Export Import; Wxport product dynamic; Food Crops; Import license; Quota system; Tariff regulation; Trade value balance.
  DOI: 10.1504/IJTGM.2024.10057703
   
  
• The Impact of Covid-19 on Stock Market Returns in India  
  by Dr Nenavath Sreenu  
  Abstract: This research study empirically examines the impact of covid-19 on the stock market returns in India with the help of a unit root test. Autoregressive Integrated Moving Average (ARIMA), ARCH model, GLM analysis and robustness tests. The data has been used for the analysis of pre-covid and covid markets' daily closing price of stock indices of NSE NIFTY and BSE SENSEX. Additionally, the paper tried to assess stock price returns in pre-covid-19 and during the pre-covid-19 condition. Findings disclose that the stock market returns in India have experienced instability and fluctuation of stock prices during the covid-19 period. The outbreaks of Covid-19 caused negative effects on stock market returns, economic growth, public health infrastructure, and national and international security. Further, also, the study indicates that throughout the covid-19, stock market performance and economic growth both declined significantly, with, a 1% increase in covid-19 cases causing a 0.23% and 0.36% decline in stock market return and economic growth.
  Keywords: covid-19; stock price; market returns; economic growth; ARIMA; and ARCH.
  DOI: 10.1504/IJTGM.2024.10057704
   
  
• Modelling Price Volatility in Energy Futures during Covid-19  
  by Yashmin Khatun, Sabat Kumar Digal 
  Abstract: Studies using various models have been undertaken to measure the impact of Covid 19 on energy futures but very few have focussed on identifying the best model. Therefore, this paper applied various models like GARCH, TGARCH, EGARCH and PGARCH with three error distribution terms to identify the best fit model that measures the volatility in Natural gas and Crude oil futures traded on MCX, before and during the pandemic. Further, it has tried to study volatility spillover effects of spot and futures prices for the entire duration by employing Bivariate BEKK GARCH Model. The results show the variation in leverage effect in both the futures and existence of bi-directional volatility spillover in long and short period. The findings of the study can help financial market players to have better understanding of the market dynamics of natural gas and crude oil volatility and help stakeholders deal with energy futures market volatility.
  Keywords: COVID-19; Volatility; Energy Futures; GARCH Models; Volatility Spillover.
  DOI: 10.1504/IJTGM.2024.10057705
   
  

Special Issue on: XV International Conference Emerging Regions and Cities Development Policy and Governance in the Age of Uncertainty

• Economic contribution and social effects of youth volunteering in the early period of the Covid-19 pandemic. Case of a large Russian region  
  by Maria Pevnaya, Viola Larionova, Elizaveta Pevnaya 
  Abstract: The article analyzes the problem of youth volunteer participation in the early period of the pandemic. Based on the data of a sociological survey of young people in a large Russian region, the Sverdlovsk region, a descriptive characteristic is given to the volunteer youth community that took part in the #WeTogether event organized at the national level of the Russian Federation. The purpose of this article is to assess the economic contribution and highlight the social characteristics of young volunteers in the early period of the pandemic who worked in a large Russian region. To achieve this goal, this article describes the #WeTogether volunteer movement in the Sverdlovsk region, young volunteers and their key social characteristics. In accordance with the ILO methodology, the economic contribution to overcoming the difficulties of the pandemic of student youth who have joined the volunteer movement in conditions of social constraints and uncertainty is calculated.
  Keywords: youth volunteering; economic impact of volunteering; social participation; pandemic; youth.
  DOI: 10.1504/IJTGM.2023.10054352
   
  
• "Invisible" single-industry towns in Russia  
  by Irina Antonova, Veronika Sokolova, Irina Turgel, Aksanat Panzabekova 
  Abstract: This study discusses the phenomenon of “invisible” single-industry towns in Russia and their economic transformations in the light of the lock-in effects they are facing. The economy of a single-industry town is usually dominated by the so-called town-forming enterprise, even though the latter is often a branch or subdivision of the head enterprise located outside of the town. The study proposes an original way for reconstructing the data on revenues, fixed assets and wages which usually remain hidden in the reports of head enterprises. The resulting models indicate that such indicators as the residual activity of enterprises in single-industry towns and the number of these enterprises retain the “memory” of the town-forming enterprise. Such “memory” becomes a lock-in factor impeding single-industry towns’ economic transformation. The proposed models and the reconstructed data increase the visibility of the Russian single-industry towns on the map of economic activity.
  Keywords: single-industry town; invisible economic activity; revenues share; concentration; town-forming enterprise.
  DOI: 10.1504/IJTGM.2023.10054446
   
  
• Impact of Network Interaction on Quality of Higher Education in CIS Countries  
  by Svetlana Balashova, Svetlana Revinova 
  Abstract: Our study's objective is to define Network Interaction opportunities in increasing the quality of higher education, the social capital rise of the educational process participants in CIS countries, considering the increasing role of ICT. We made an in-deep study of the CIS Network University and define the opportunities and challenges of network interaction for each actor of the educational process (students, professors, departments, universities). We focused attention on the impact of network interaction on the social capital of students and professors. It is shown that the forced accelerated digitalization of the educational process caused by COVID19 more prominently demonstrated the benefits and challenges of network interaction. Digitalization reduces barriers to participation in the networked educational process for both the student and the professor. On the other hand, the digital divide between the CIS countries does not allow obtaining these advantages and complicates raising higher education quality via network interaction.
  Keywords: higher education; network interaction; digitalization; social capital; CIS countries; COVID-19 restrictions.
  DOI: 10.1504/IJTGM.2024.10056332