Emic and etic interpretations of engagement with a consumer-to-consumer online auction site

This paper provides emic and etic interpretations of engagement with a consumer-to-consumer (C2C) online auction site, based on in-depth interviews with buyers. The study exposes three misconceptions about online C2C auctions; that the interaction between parties occurs exclusively online, that the relation between buyers and sellers is purely transactional in nature, and that the interaction between buyers and sellers does not lead to ongoing business relationships. The paper reveals the utilitarian, hedonic and social benefits that are the bases of engagement with the auction site. Social benefits materialize for auction buyers during offline exchanges. The paper also reveals marketer incentives and structural disincentives for consumers' ongoing use of the auction site.     

Small and Medium Enterprise Financing in Transition Economies

This paper studies the financing status of small and medium enterprises (SMEs) in transition economies. Factors causing financing obstacles are indentified and further analyzed to determine their influence over financing patterns. Bank regulatory practices relevant to SMEs’ access to bank loans and their influence over loan structures are identified. This study contributes to the existing body of knowledge by exploring the impact of specific bank regulatory practices on credit lending to SMEs in transition economies.     

Financial Globalization and Banking Crises in Emerging Markets

Bank crises in emerging economies have been a feature of the recent global crisis, and their incidence has increased in the post-Bretton Woods era. This paper investigates the impact of financial globalization on the incidence of systemic bank crises in 20 emerging markets over the years 1976–2002 using measures of de facto and de jure financial openness. An increase in foreign debt liabilities contributes to an increase in the incidence of crises, but foreign direct investment and portfolio equity liabilities have the opposite effect. A more liberal de jure capital regime lowers the incidence of banking crises, while a regime of fixed exchange rates increases their frequency. The results of the econometric analysis is consistent with the experience of East European and central Asian emerging markets, which attracted a relatively large proportion of capital flows in the form of debt in recent years and have been particularly hard hit by the global financial crisis.     

Inflation and Welfare in Latin America

This paper follows Bailey (J Polit Econ 64:93–110, 1956) and Lucas (Econometrica 68:247–274, 2000) and estimates the welfare cost of inflation for 17 Latin American economies. We use annual data, from 1955 to 2000, and recent advances in the field of applied econometrics to estimate the inflation rate elasticity of money demand and report significantly high and differential welfare cost estimates for these economies.     

The Impact of Comparative Food Price Information on Consumers and Grocery Retailers: Some Preliminary Findings of a Field Experiment

There is reason to believe that consumers face a difficult task in securing adequate and accurate information upon which to judge relative price levels of competing foodstores. The objective of the research reported here was to investigate the potential of retail food price reporting for correcting this information problem. Both consumer and grocery retailer responses to this comparative food price information were analyzed. A pretest-post-test design with four pairs of experimental-control cities (with replications at two levels of concentration) was employed to collect price data. A modified Solomon-four group design was used for surveys of food consumers in experimental and control cities. The results of analysis of variance models lend support to the hypothesis that price reporting can lower the relative level of food prices, both for items individually identified in a price report and items not identified in the report. The magnitude of this effect varied among the cities. It appears that consumers' role in this experiment was a passive one: consumer behavior and patronage patterns did not change in a manner that would consistently reinforce the competitive effects of the price reports.     

European tourism management

European governments must recognize the economic significance of the tourism industry to Europe. Dr Klaus Edelmann, Professor at the Swiss School of Tourism Management, describes how modern marketing methods and EEC consensus policies must be adopted to combat increasing competition from outside Europe and expand the domestic market.