Where do the highly educated migrate? Micro-level evidence from finland

This paper analyses the role which migration of highly educated labour plays in human capital reallocation. The study focuses on actual migrants, examining the direct effect of educational attainment on destination choices. The paper uses the ordered probability model and a micro-level data set in econometric analyses. Individual level investigations of migrants show that highly educated migrants are likely to move to urban regions. As a result, the reallocation of highly educated labour, and thereby also the redistribution of human capital, seems to be taking place in Finland.     

The effects of fiscal policy on economic activity in Finland

This study analyzes whether fiscal policy decisions have real effects on the economy of Finland, and if they do, what are the strength and durations of the effects. We utilise the Vector Stochastic Process with Dummy Variables (VSPD) method in our empirical work. This approach is a suitable tool to study event-based episodes. Fiscal policy shocks do have an effect on the economic activity of Finland when the time period 1990–2007 is investigated. A positive tax shock (or a policy that increases public sector revenues) seems to have a positive effect on Investment and GDP but the response of private consumption is mixed. Results clearly indicate that increase in Government spending crowds out private sector activity, and the effect takes place sooner than with the Revenue variable in question. This is a clear evidence for the crowding out effect.     

Informational mobility and productivity: Finnish evidence

The labor productivity effects of portability and connectivity of information and communication technology (ICT) are studied with Finnish firm-level data. It is found that a computer with only processing and storage capabilities boosts labor productivity by 9% (corresponding to 5% output elasticity), portability by 32%, wireline connectivity by 14%, and wireless connectivity by 6%. The findings are in line with previous literature and comparisons to ICT costs suggest that firms equate marginal costs and returns. Although increasing ICT penetration can no longer be a major source of productivity growth in developed economies, the relatively new characteristics studied can.     

Trade and the Crisis: Protect or Recover

<正>The pace of trade reforms waned from the mid-2000s as protectionist sentiment began to increase.With the onset of the global financial crisis,     

Inter‐communal institutions in medieval trade

This article examines the institutional structure of medieval overseas trade to explain why trade thrived even in the absence of the state. The literature has dealt mainly with intra‐coalition or intra‐community relations. However, the literature does not answer the question of how institutions could be created that could support interaction between a large number of distant communities and between merchants who did not necessarily know one another. This article presents such an institution that prevailed in the Baltic Sea region in the late middle ages, referred to here as the inter‐communal conciliation mechanism. In case of a dispute, conciliation took place between town councils, rather than the merchants involved in the dispute, thus combining individual liability and communal enforcement. Exploration of the documents reveals a task‐specific regularity of behaviour, which was the general practice among merchants to turn to the council of their own community when they had problems in a foreign town, instead of being obliged to solve disputes by themselves. This institution provided a permanent, centralized, and relatively impartial enforcement mechanism to respond to breaches. It was therefore well adapted to large, at least partially anonymous markets, such as the Baltic Sea region, with dozens of towns and thousands of merchants.     

Investment credit and child labour

It is generally assumed that credit has a positive effect on children's schooling among poor households. This article shows that need not be the case when households obtain credit for investment purposes. In fact, investment loans may not have any effect on the likelihood of schooling for children who work in their family business. Our estimates confirm that this is the case; credit used to finance investments has no effect on the odds of schooling for employed children. This may be because investment loans increase children's labour productivity, which in turn increases the opportunity cost of schooling. The results of this study suggest that improving access to credit may not, by itself, constitute a solution to the problem of child labour in developing countries.     

Social Media Firm Specific Advantages as Enablers of Network Embeddedness of International Entrepreneurial Ventures

Combining internalisation theory and internationalisation networking literature we study how international entrepreneurial ventures use social media to internationalise. Our qualitative study reveals the governance mechanisms and learning that are part of a dynamic process. We explain how firms leverage their own social-media capabilities and bundle them with the capabilities of foreign partners, which they leverage to create new social-media capabilities to grow internationally. Firms leverage social-media capabilities to become embedded within emerging and strategic networks, a position that is central for firms to mitigate threats of opportunism and bounded reliability and to overcome liabilities connected to smallness, newness, and foreignness.     

Network development and firm growth: A resource-based study of B2B Born Globals

Using multiple case studies, we explore how Born Global networks develop as the firm's internal resources grow. Building on networks and entrepreneurship research, we develop a theoretical framework and advance five propositions that link resource development and entrepreneurial orientation to network content, structure, centrality, and management. We also explore the benefits that Born Globals gain from this development. Key findings include: resource accumulation and network development have a strong relationship while network content becomes increasingly strategic; strong entrepreneurial orientation coincides with calculative network management; network benefits are not always advantageous to the firms. This study makes empirical contributions to Born Global and Networks research in the context of Business-to-Business firms, and provides practical implications for Entrepreneurs and Born Global managers.     

A dynamic model of growth phases and survival in international business-to-business new ventures: The moderating effect of decision-making logic

The growth and survival of international new ventures (INVs) has not been the subject of extensive in-depth qualitative study and our understanding of their decision-making is deficient. On the basis of empirical analyses in a small and open economy, a dynamic model was developed that explains the growth phases through which INVs pass as they mature in the high-technology business-to-business field. The model also recognizes rapid advancement, survival crises, and retrenchment. Propositions were devised regarding the impact of opportunities, resources and capabilities, entrepreneurial orientation, and learning on growth phases and survival. A novel finding is that the decision-making logic moderates the impact of these factors. These findings have important implications for industrial marketing scholars and practitioners.