Proceedings of The International Conference on Economics and Development

Regional Currency or Regional Trade Policy?

2019-10-31T04:05:36+0530

Being inspired by initial Euro-success, renowned economist Robert Mundell was overoptimistic about adoption of a large currency area in Asia; however, empirical literature on East Asian regional currency is yet inconclusive. Advocates of the optimum currency area (OCA) theory identifies trade enhancement as a major benefit of regional currency adoption. East Asia, however, enjoys high trade enhancement for decades through their ongoing regional integration process in spite of long-practiced controversial individual currency arrangements. As such, a well-managed regional trade policy seems more appropriate for East Asian trade and economic growth. Existing literature consistently ignores the importance of East Asian regional ‘trade policy’ integration and limit the focus to regional ‘trade’ integration motivated by the OCA literature.

Does Push Factor Determine Capital Flow to Emerging Markets during Financial Crisis?

2019-10-31T04:05:38+0530

The objective of this study is to investigate what determinant factors affecting capital flow to Emerging markets (EMEs) during Global Financial Crisis (GFC). Whether push factors as external factors or pull factors as domestic / internal factors and what is the most dominant variable using study of literature method. The method used in this study is review of literature, firstly investigate five previous literatures on Latin America and Asia crises and then focus on six main literatures that related to GFC. The findings show the determinant factors affecting capital flow to EMEs during GFC are push factors with world interest rate and global risk condition as main or dominant variables during 2007-2009 episode. Push factors are determinant factors and world interest rate and global risk appetite are dominant variables.

Entrepreneurial Marketing of Small & Medium Scale Enterprises in a Selected Divisional Secretariat Division of Sri Lanka

2019-10-31T04:05:38+0530

Merging two distinct disciplines, the term Entrepreneurial Marketing (EM) is used to describe the marketing process of small firms pursuing opportunities under limited resource conditions and uncertain market circumstances. The aim of this study was to explore the Entrepreneurial Marketing approach adopted by Small and Medium Scale Enterprises (SMEs) in a selected divisional secretariat division of Sri Lanka. A sample of 90 SMEs were selected using disproportionate stratified random sampling and data were collected using a structured questionnaire. Results revealed that the majority of the SMEs exhibit a moderate level of adoption of EM, while showing the highest and lowest level of adoption towards value creation and innovativeness respectively. Results also revealed that there is a significant relationship between business size, business age and education level of the business operator and the level of adoption of EM. Further, as per the findings, the overall EM and three EM dimensions (value creation, proactiveness and innovativeness) has a positive correlation with the sales growth of the business.