Outward Foreign Direct Investment and Economic Growth: Evidence from Japan

Abstract

This article aims at analysing the role of foreign direct investment (FDI) outflows in economic performance and the impact of economic growth on outward FDI with the data from Japan. Bivariate and multivariate Granger causality frameworks have been used in this study. The results suggest that the conclusion of bivariate framework may not be valid because it allows omission of important variables. The results of the multivariate framework show that there is a long-run positive unidirectional causality from outward FDI to gross domestic product (GDP) per capita. In the short-run, both per capita income and outward FDI do not allow Granger causality.     

Re-examining the Fisher Effect: An Application of Small Sample Distributions of the Covariate Unit Root Test

Abstract

This article employs the covariate unit root test proposed by Elliott and Jansson to investigate the stationarity properties of real interest rates. Instead of blindly trusting the asymptotic distribution of the test, we extend Rudebusch's method to estimate its finite sample distributions under the null and alternative hypotheses. With these distributions, we can obtain the probabilities that the test statistic comes from the null and alternative hypotheses, and quantify the asymptotic size as well as the test power for each specific series. Our simulation experiments show that first, due to the higher power raised by the inclusion of covariates, the test can overwhelmingly reject the unit root null for the 16 industrialized countries; secondly, the Ng and Perron tests deliver lower powers in most countries, and thus lead to the false conclusion of non-stationary real interest rates. Finally, allowing for multiple endogenous breaks in the real interest rates provides only stationary evidence in half of the 16 countries.     

A fuzzy AHP approach to construct international hotel spa atmosphere evaluation model

Governments in all over the world put great efforts on promoting domestic leisure and tourist activities, which leads to the enhancement of market potential and opportunities. Among all hospitality businesses such as restaurants, clubs, recreational villa, spa and beauty salon, international hotels is generating most percentage of profit in this sector. International hotels not only provide basic equipment and intimate service, but also emphasize on extreme quality of atmosphere sensation for customers. This study utilizes a two-step method with Delphi in the first and fuzzy analytic hierarchy process (AHP) (FAHP) in the second phase. The first phase is to collect information and knowledge to construct an AHP hierarchy to evaluate hotel atmosphere. The second phase incorporates a FAHP method to integrate experts’ knowledge and calculate priorities of criteria. This research provides insights of international hotel atmosphere evaluation and directions for future development of hotel atmospheres for decision makers.     

The Changing Nature of Border,Scale and the Production of Hong Kong's Water Supply System since 1959

This article investigates the making of Hong Kong's water supply system since 1959. It starts by assessing the perspectives provided by the regime approach and the political ecology literatures. The case of Hong Kong brings in ideas from border studies and draws attention to the changing nature of the border to explain socio‐ecological and scaling interactions. The case study maps the border relationship between China and Hong Kong (and Britain), and the political tussle between them over the control of water supply to the city in the late colonial period 1959–78, which resulted in the creation of a localized self‐sufficient water supply system in Hong Kong, and the consolidation of Hong Kong's scale as a colonial city‐state under British rule. It further explicates the change in the nature of the political border since 1979, and the processes by which Hong Kong abandoned attempts to strengthen its local supply, becoming dependent on supply from the regional Dongjiang water networks, as well as the transformation of its scale to become a subordinate of the larger political unit in subsequent years.     

Racialization and Rescaling: Post‐Katrina Rebuilding and the Louisiana Road Home Program

This article examines the interlocking nature of racialization and rescaling in post‐Katrina New Orleans, focusing specifically on the implementation of the Louisiana Road Home program, the largest housing recovery program in US history. Based on interviews and long‐term ethnographic fieldwork, I conceptualize the Road Home program as a racialized spatial strategy to revalorize disaster‐devastated spaces and enhance the exchangeability of damaged property. I trace the logic of rescaling in post‐Katrina New Orleans and reveal the ways in which state policies to accelerate the turnover time of flood‐damaged housing reflect and reinforce the racialization of space. New Orleans stands as a valuable laboratory for the study of government intervention under conditions of widespread upscaling, downscaling and outscaling processes, pushing trends found elsewhere to their limits while revealing the negative consequences of rescaling for local institutions and residents. The article illustrates the localized dynamics of rescaling in times of crisis and offers a novel processual account of the drivers and consequences of rescaling processes in a disaster‐impacted territory.     

The impact of social capital on tourism technology adoption for destination marketing

The purpose of the present study is to examine the impact of social capital on destination marketing organisations' (DMOs) technology adoption, especially Web 2.0. In other words, among the variety of factors that might influence individuals' or organisations' technology adoption, this study suggests that the concept of social capital is an additional important factor that might influence DMOs' technology adoption. Social networks (size of network, tie strength, and bridging and bonding ties), trust, norms, and associational activity were chosen as the components of social capital. The results revealed that, with the exception of trust and tie strength, most components of social capital exerted significant effects on DMOs' levels of technology adoption.     

Towards a spirituality-based platform in tourism higher education

This conceptual paper contributes to tourism knowledge by proposing a spirituality-based platform in tourism higher education. Through this platform, the authors show how tourism education that supports discussion on spiritual development can help to create global citizens who are able to understand their potential as social, cultural and environmental stewards. This paper reviews recent developments shaping tourism education and examines the contemporary tourism educational landscape that supports a spirituality-based educational approach. The 7th platform of tourism studies is offered through a spirituality-based approach to knowledge and examples are given of how we can develop such a platform in tourism higher education.     

Sales force automation systems: An analysis of factors underpinning the sophistication of deployed systems in the UK financial services industry

This study investigates organizational and strategic context variables that are linked to the sophistication of sales force automation systems in UK financial services firms. We find that increasing sophistication in SFA deployment, evaluated as a count of the number of types of results of sales campaigns that are measured, is driven directly by the information orientation of the host firm. We also find that the “sophistication” of deployed systems is, in fact, limited — the information held on the systems cannot underpin the strategic goals of the sales/marketing managers. We theorise that adoption of SFA systems is driven by managerial imperatives and that these have resulted in sales force resistance — shown by the paucity of information held on adopted SFA systems.