Under the assumption of intertemporal balance, current foreign reserve holdings should equal the present value of the sum of future current account and financial account balances. To satisfy the intertemporal balance, a testable condition indicates that the change in foreign reserves needs to...

Current theories or strategies of entrepreneurship for firms mostly focus on advanced economies and rarely on emerging markets. The ongoing trend of globalisation provides great opportunities for entrepreneurs in emerging markets to engage in the global production chain and to learn technology...