Impact of foreign trade and foreign direct investment on economic growth: Empirical insights from Nepal

The study reveals the peculiarities of modern global production development due to global value chains (GVCs) formation that allow both developing and developed countries to integrate successfully into international production networks. This research is aimed at identifing key factors responsible for the upstream movement of Ukraine through GVCs and determining locations for production capacities, as well as at developing an institutional mechanism for facilitating the successful integration of domestic producers into GVSs. To achieve this, a multiple linear regression reflecting the interrelation between manufacturing industry share in exports value added and the institutional and economic indicators is analyzed. Three scientific hypotheses are tested and two of them are verified. The multiple linear regression results disclose a significant impact of institutional factors on the country’s ability to participate in GVCs and justify the first hypothesis, namely the higher the government effectiveness and regulatory quality are, the higher the manufacturing value added in exports is. Better governance and administrative functions performance enhance companies’ export potential. The model also verifies the second hypothesis that emphasizes better ability to join GVCs with low and medium technology product than with a high technology one. The model outputs contradict the third hypothesis on the protectionism: high tariffs for imports significantly matter in exports promotion. However, this result should be considered while accounting for the global trend of trade liberalization and Ukraine’s international agreements. The article proposes policy recommendations for improving the positions of Ukraine in GVCs.

The relevance of the research topic is determined by the need to overcome the crisis of the Ukrainian labor market based on balancing state employment policy with other areas of social and economic policy, coordinated use of its tools aimed at forming a system of modern science-intensive jobs that meet the EU latest achievements and standards, especially in information and communication as well as digital economy. The purpose is to analyze the causes of the crisis in the domestic labor market, identify its climate dependence on the main macroeconomic and other factors and develop new approaches to the content and toolset of modern state employment policy. The processes in the labor market, their trends and driving forces are the study object. The research used methodological provisions of Keynesian and other theories and concepts of employment, graphical and correlation analysis, content analysis, classification-analytical and statistical-analytical methods. It has been proved that it is necessary to develop the internal market (by raising the incomes of the population) and raise the innovation-investment framework of employment based on increasing the reliability of the banking system, participation of the population in the stock market operations, develop non-governmental pension funds, credit unions, create real barriers against the money outflow, stimulate export activity of Ukrainian producers at the expense of competitive products with high added value. The use of the directions and instruments proposed in the article to modernize the state employment policy will help to overcome the labor market crisis, increase the population well-being, economic growth, and the country’s entry into the trajectory of sustainable socioeconomic development.

This study explores international business integration, focusing on Colombian small and medium-sized enterprises (SMEs). It delves into the crucial aspects of competitiveness and technological capital influencing the export models of these SMEs. Using a questionnaire, responses were gathered from 63 Colombian SMEs exporting to 74 countries with 333 tariff positions. This analysis examines competitiveness factors like innovation, productivity, and business structure, as well as technological capital components such as R&D management, technological processes, and equipment, all tailored to the context of Colombian SMEs. The findings establish a comprehensive model elucidating direct and indirect relationships among these variables. They underscore the importance of strengthening competitiveness elements, particularly the infusion of technology into process and product innovation, alongside productivity and business structure rooted in the value derived from information technologies. Simultaneously, the study highlights the importance of nurturing employees’ physical, financial, and language skills within Colombian SMEs. This study accentuates the pivotal role of investment in technological capital aspects, including research and development management, personnel, and leveraging information technology, especially within Colombian SMEs. These investments are instrumental in augmenting performance and ensuring success in the international business arena. The paper contributes to both theoretical understanding and practical applications in enhancing the international competitiveness of Colombian SMEs.