IJBED 2051-848X 2051-8498 https://doi.org/10.24052/IJBED/ 15 Volume 05 Issue 3 2017-11-01 https://ijbed.org/cdn/issue_file/content_17072_18-02-20-09-53-42.pdf

147 https://ijbed.org/details&cid=147 2017-11-28 The United States financial community, lax regulations and the Fed started a global currency war in 2002. The inadvertent cheapening of the US dollar was a by-product of what became the US subprime lending crisis and the financial collapse in 2008. From 2002-2008, the Fed created so much liquidity that the dollar fell 33% relative to the yen and 40% relative to the euro. In response to the 2008 crash, the Fed had to ramp up US money creation again, generating $4 trillion in money creation by 2014. World interest rates fell and raw materials and commodity producers in emerging markets borrowed nearly $5 trillion. Overproduction and the slowdown of China caused a Third World oil and commodity market collapse around 2015.         Beginning in 2014, other advanced countries retaliated and declared a global currency war of their own against United States. They created their money with a vengeance. Just as the US had done, this made the currencies of Europe, Japan and Britain 20 to 25% cheaper and their goods became more competitive relative to US goods.         As a result, the US became the importer of last resort for cheap foreign goods from 2014 until the election in November of 2016. Only time will tell whether the US currency war that we won from 2002-2014 and the retaliation war we lost from 2014-2016 helped Trump get elected.         The parallel is inescapable that the US also started the world tariff and trade war in 1930 with the passage of the Smoot Hawley tariff, which extended the length of the Great Depression. The US currency war pushed Japan even further into recession and weakened Europe. US quantitative easing became a beggar-thy-neighbor policy against our trading partners. Christensen, J., and Rudebusch, G. (2012) The Response of Interest Rates to US and UK Quantitative Easing. Economic Journal, 122 (564), pp. 385-414. Magee, Stephen, Brock, Willisam A., and Young, Leslie, Black Hole Tariffs, New York; Cambridge University Press, 1989. Martin, C., and Costas, M. (2012) Quantitative Easing: A Sceptical Survey. Oxford Review of Economic Policy, 28 (4), pp. 750-764. https://ijbed.org/cdn/article_file/content_56787_17-11-28-10-29-48.pdf Stephen P. Magee Hua Chen Currency War the Euro the Dollar Quantitative Easing 2008 the Great Recession Monetary Policy 28286 32 0

148 https://ijbed.org/details&cid=148 2017-11-28 Financial specialist conduct is a focal idea in the behavioral fund which breaks down the impact of different factors on singular value speculator basic leadership. The nature and centrality of these factors on financial specialist basic leadership can be unique and intriguing in different nations. This investigation, thusly, looks at the impact of financial, and behavioral, factors in molding the venture conduct of value speculators in India.         The factor incorporates advocate suggestion, unbiased data, individual back requirements, bookkeeping data, established riches expansion and mental self-view/firm-picture incident. The examination found the solid impact of mental self-portrait/firm-picture occurrence, unbiased data, and supporter suggestion on value speculator basic leadership. While, no impacts of variables like great riches amplification, bookkeeping data, and individual budgetary needs are found on value financial specialist's basic leadership with regards to India. Epstein, M.J. and Freedman, M., (1994). Social disclosure and the individual investor. Accounting, Auditing & Accountability Journal, 7(4), pp.94-109. Hodge, F.D., (2003). Investors' perceptions of earnings quality, auditor independence, and the usefulness of audited financial information. Accounting Horizons, 17, p.37. Jang, J., (2017).  Stock Return Anomalies and Individual Investors in the Korean Stock Market. Pacific-Basin Finance Journal, 44, pp, 1-46. Kadiyala, P. and Rau, P.R., (2004). Investor reaction to corporate event    announcements: underreaction or overreaction. The Journal of Business, 77(2), pp.357-386. Krishnan, R. and Booker, D.M., (2002). Investors' use of analysts' recommendations. Behavioral Research in Accounting, 14(1), pp.129-156. Malmendier, U. and Shanthikumar, D., (2003). Are small investors naïve?. NBER Working Paper, 10812. Nagy, R.A. and Obenberger, R.W., (1994). Factors influencing individual investor behavior. Financial Analysts Journal, 50(4), pp.63-68. Nagy, R.A. and Obenberger, R.W., (1994). Factors influencing individual investor behavior. Financial Analysts Journal, 50(4), pp.63-68. Olson, E., Vivian, A. and Wohar, M.E., (2017). Do commodities make effective hedges for equity investors? Research in International Business and Finance. Riley Jr, W.B. and Chow, K.V., (1992). Asset allocation and individual risk aversion. Financial Analysts Journal, 48(6), pp.32-37. Saiti, B., Bacha, O.I. and Masih, M., (2014). The diversification benefits from Islamic investment during the financial turmoil: The case for the US-based equity investors. Borsa Istanbul Review, 14(4), pp.196-211. Shefrin, H., (1999). Irrational exuberance and option smiles. Financial Analysts Journal, 55(6), pp.91-103. Shleifer, A., (2000). Inefficient markets: An introduction to behavioural finance. OUP Oxford. Tekçe, B., Yılmaz, N. and Bildik, R., (2016). What factors affect behavioral biases? Evidence from Turkish individual stock investors. Research in International Business and Finance, 37, pp.515-526. Vaidyanathan, R., (2011). National economic debate - Stock markets or rigged casinos, Indian Institute of Management (Bangalore). Vermeulen, R., (2013). International diversification during the financial crisis: A blessing for equity investors? Journal of International Money and Finance, 35, pp.104-123. Warren, W.E., Stevens, R.E. and McConkey, C.W., (1990). Using demographic and lifestyle analysis to segment individual investors. Financial Analysts Journal, 46(2), pp.74-77. Wei, J., Wang, R., & Yang, H., (2012). Optimal surrender strategies for equity-indexed annuity investors with partial information. Statistics & Probability Letters, 82(7), pp.1251-1258. https://ijbed.org/cdn/article_file/content_62306_17-11-28-10-38-57.pdf Hossein Niavand Farzaneh Haghighat Nia Equity Investor Equity Financing Behavioral Finance Indian equity Markets Stock Market. 5964 19 0

149 https://ijbed.org/details&cid=149 2017-11-28 Purpose – The purpose of this article is to describe the marketing-oriented market entry approaches that businesses are currently using across the three levels of the world economic pyramid (i.e., WEP). These levels are the Top-tier, the Middle-tier, and the Base of the Pyramid-tier (i.e., BoP-tier). Methodology – The literature of the BoP was reviewed, and market entry approaches were itemized across the three WEP levels. Secondly, BoP strategic theorists including Prahalad identified the need for a BoP marketing focus replacing the traditional 4Ps marketing approach (i.e., Product, Price, Place and Promotion) with the BoP-specific 4As marketing approach (i.e., Awareness, Affordability, Access and Availability). This 4As marketing approach is discussed. Findings – New marketing-oriented market-entry approaches are proposed for each of the three WEP levels. These approaches are based on where in the WEP the firm currently exists, and where in the WEP the firm desires to refocus market-entry activities; identified approaches include: inter-country expansion, intra-country entry, adjacent market entry, and extended market entry. Secondly, the absence of a clearly articulated marketing strategy for middle-tier markets was observed. Practical implications – This article has two specific applications. First, it summarizes the evolving market entry perspectives to provide a context for future market research in both emerging markets and the pre-emerging BoP markets. Second, the future requirement for an articulated marketing strategy for middle-tier markets is suggested. Originality – This article examined existing market entry approaches across all three levels of the WEP, inclusive of the BoP economic level. The language used to clarify market entry movements was extended, providing a specificity of description not previously found in either the existing market entry or BoP literature. Bamford, M. (2011). Are MINTS the next big investment opportunity? Retrieved April 2, 2013, from  http://www.icl-ifa.co.uk/2011/05/mints-big-investment-opportunity/ BBVA. (2012). Economic outlook: EAGLEs. (Annual Report 2012 - 20 February). Madrid, Spain: Banco Bilbao Vizcaya Argentaria. Retrieved from http://www.bbvaresearch.com/KETD/fbin/mult/120221_ EAGLEs_Outlook_Annual_Report_2012_tcm348-287658.pdf?ts=2642013 BBVA. (2013a). BBVA EAGLEs: Emerging and growth leading economies 2013: The role of 'emerging people'. (Annual Report 2013). Madrid, Spain: Banco Bilbao Vizcaya Argentaria. Retrieved from http://www.bbvaresearch.com/KETD/fbin/mult/EAGLEs2013_Presentation_March2013_i_tcm348-379776.pdf?ts=2642013 BBVA. (2013b). Economic outlook: EAGLEs. (Annual Report 2013 - March). Madrid, Spain: Banco Bilbao Vizcaya Argentaria. Retrieved from http://www.bbvaresearch.com/KETD/fbin/mult/ EAGLEsAnnualReport2013_i_tcm348-379772.pdf?ts=2642013 Buckley, P. J., Clegg, J., Cross, A. R., Liu, X., Voss, H., & Zheng, P. (2007). The determinants of Chinese outward foreign direct investment. Journal of International Business Studies, 38(4), 499–518. Central Intelligence Agency. (2013). The World Factbook – Country comparison: GDP – Per Capita (PPP). Crescenzi, R., Pietrobelli, C., & Rabellotti, R. (2016). Regional strategic assets and the location strategies of emerging countries’ multinationals in Europe. European Planning Studies, Vol. 24, Issue 4. doi:10.1080/09654313.2015.1129395 Economist. (2009). Acronyms: BRICs and BICIs. The Economist, Nov 26th 2009, April 2, 2013. Retrieved from http://www.economist.com/blogs/theworldin2010/2009/11/acronyms_4/print Garcia-Herrero, A., Navia, D., & Nigrinis, M. (2010). BBVA EAGLEs. (BBVA Research: Cross-Country Emerging Markets Analysis Economic Watch, 15 November). Madrid, Spain: Retrieved from http://www.bbvaresearch.com/KETD/fbin/mult/EM_Watch_BBVA_EAGLES_ENG_15.11.2010_tcm348-270419.pdf?ts=2642013 Garrette, B., & Karnani, A. (2010). Challenges in marketing socially useful goods to the poor. California Management Review, 52(4), 29-47. doi: 10.1525/cmr.2010.52.4.29 Gupta, U. (2011). MIST: The next tier of large emerging economies. Institutional Investor, (February 7, 2011), February 27, 2013. Retrieved from http://www.institutionalinvestor.com/Article/2762464/ Search/MIST-The-Next-Tier-of-Large-Emerging-Economies.html?Keywords=MIST Hammond, A. L., Kramer, W. J., Katz, R. S., Tran, J. T., Walker, C., World Resources Institute, International Finance Corporation. (2007). The next 4 billion: Market size and business strategy at the base of the pyramid. Washington, DC: World Resources Institute, International Finance Corp. Hammond, A. L., & Prahalad, C. K. (2004). Selling to the poor. Foreign Policy, (142), 30-37. doi: 10.2307/4147574 Hoskisson, R. E., Eden, L., Lau, C. M., & Wright, M. (2000). Strategy in emerging economies. Academy of Management Journal, 43(3), 249-267. doi: 10.2307/1556394 Karnani, A. (2007). The mirage of marketing to the bottom of the pyramid: How the private sector can help alleviate poverty. California Management Review, 49(4), 90-111. doi: 10.2307/41166407 Karnani, A. (2008a). Employment, not microcredit, is the solution. Journal of Corporate Citizenship, (32), 23-28. Retrieved from http://www.greenleaf-publishing.com Karnani, A. (2008b). Help, don't romanticize, the poor. Business Strategy Review, 19(2), 48-53. doi: 10.1111/j.1467-8616.2008.00535.x Karnani, A. (2008c). Innovation in poor countries. Issues in Science & Technology, 24(3), 15-17. Retrieved from http://www.issues.org Karnani, A. (2008d). Romanticizing the poor harms the poor. The Whitehead Journal of Diplomacy and International Relations, Summer-Fall, 57-70. Karnani, A. (2010). Failure of the Libertarian approach to reducing poverty. Asian Business Management, 9 March(1), 5-21. doi: 10.1057/abm.2009.20 Kennedy, R., & Novogratz, J. (2011). Innovation for the BoP: The patient capital approach. In T. London, & S. L. Hart (Eds.), Next generation business strategies for the base of the pyramid (pp. 45-78). Upper Saddle River, NJ: Pearson Education, Inc. Kramer, A. E. (2009, June 16). Emerging economies meet in Russia. The New York Times. Retieved from http://www.nytimes.com/2009/06/17/world/europe/17bric.html?ref=business&_r=0 Lenovo. (2013). Lenovo locations. Retrieved September 30, 2013, from http://www.lenovo.com/us/en/ Letelier, M. F., Flores, F., & Spinosa, C. (2003). Developing productive customers in emerging markets. California Management Review, 45(4), 77-103. doi: 10.2307/41166189 London, T. (2007). A base-of-the-pyramid perspective on poverty alleviation. (Working paper). University of Michigan: William Davidson Institute / Stephen M. Ross School of Business. Retrieved from http://www.erb.umich.edu/News-and-Events/colloquium_papers/ BoP_Perspective_on_Poverty_Alleviation__London%20%28UNDP%29.pdf London, T., & Hart, S. L. (2011). Next generation business strategies for the base of the pyramid: New approaches for building mutual value. Upper Saddle River, N.J.: FT Press. Marfrig Group. (2012). 2011 Annual Report. (No. 2011). São Paulo, Brazil: Marfrig Group. Retrieved from http://ir.marfrig.com.br/rao/2011/eng/ferramentas/download/Marfrig_RA11.pdf McDonald's Corporation. (2013). Discover McDonald's around the globe. Retrieved September 30, 2013, from http://www.aboutmcdonalds.com/mcd/country/map.html Olsen, M., & Boxenbaum, E. (2009). Bottom-of-the-pyramid: Organizational barriers to implementation. California Management Review, 51(4), 100-125. doi: org/10.2307/41166507 O'Neill, J. (2001). Building better global economic BRICs. (Global Economics Paper No. 66). London: Goldman Sachs & Co. Prahalad, C. K. (2005). The fortune at the bottom of the pyramid: Eradicating poverty through profits. Upper Saddle River, NJ: Wharton School Pub. Prahalad, C. K. (2012). Bottom of the pyramid as a source of breakthrough innovations. Journal of Product Innovation Management, 29(1), 6-12. doi: 10.1111/j.1540-5885.2011.00874.x Prahalad, C. K., & Hammond, A. L. (2002). Serving the world's poor, profitably. Harvard Business Review, 80(9), 48-57. Retrieved from http://www.hbr.org Prahalad, C. K., & Hart, S. L. (2002). The fortune at the bottom of the pyramid. Strategy Business, Spring 26, 2-14. Retrieved from http://www.strategy-business.com/ Ramamurti, R. (2012). What is really different about emerging market multinationals? Global Strategy Journal, 2, 41–47. doi:10.1002/gsj.1025 Ramamurti, R., & Singh, J. V. (Eds.). (2009). Emerging multinationals from emerging markets. Cambridge, UK: Cambridge University Press. Ricart, J. E., Enright, M. J., Ghemawat, P., Hart, S. L., & Khanna, T. (2004). New frontiers in international strategy. Journal of International Business Studies, 35(3), 175-200. doi: 10.1057/palgrave.jibs.8400080 Seelos, C., & Mair, J. (2007). Profitable business models and market creation in the context of deep poverty: A strategic view. Academy of Management Perspectives, 21(4), 49-63. doi: 10.5465/AMP.2007.27895339 Sheth, J. N. (2011). Impact of emerging markets on marketing: Rethinking existing perspectives and practices. Journal of Marketing, 75(4), 166-182. doi: 10.1509/jmkg.75.4.166 Starbucks Corporation. (2012). Starbucks company profile. (No. August, 2012). Walsh, J. P., Kress, J. C., & Beyerchen, K. W. (2005). Book review essay: Promises and perils at the bottom of the pyramid. Administrative Science Quarterly, 50(3), 473-482. doi: org/10.2189/asqu.2005.50.3.473 Wilson, D., & Stupnytska, A. (2007). The N-11: More than an acronym. (Global Economics Paper No:153). London: Goldman Sachs Economic Research. Retrieved from https://portal.gs.com World Resources Institute. Development through Enterprise Project, & Inter-American Development Bank. (2006). The market of the majority: The BOP opportunity map of Latin American and the Caribbean. [Washington, D.C.]: World Resources Institute. Retrieved from http://www.wri.org/publication/ market-of-the-majority Wright, M., Filatotchev, I., Hoskisson, R. E., & Peng, M. W. (2005). Strategy research in emerging economies: Challenging the conventional wisdom. Journal of Management Studies, 42(1), 1-33. doi: 10.1111/j.1467-6486.2005.00487.x https://ijbed.org/cdn/article_file/content_19908_17-11-28-10-46-41.pdf Marvin O. Bates Tom A. Buckles Market Entry Emerging Markets BoP Base of the Pyramid 10161 37 0

150 https://ijbed.org/details&cid=150 2017-11-28 Experiential entrepreneurship has become a significant pedagogy in preparing American students to compete in the dynamic and consolidating global economy. Whereas the model of experiential learning facilitates collaboration between industry experts, entrepreneurs and community stakeholders, it is imperative to look at entrepreneurship from a global perspective. Medgar Evers College has a mission for social justice and socio-economic transformation.  Through the Entrepreneurship & Experiential Learning (EEL) lab, students are exposed to industry leaders, faculty and other stakeholders to the benefits of global entrepreneurship and experiential learning.         This paper is a case study that discusses lessons learned on innovation, culture and entrepreneurship from students and faculty’s exposure to innovation and international entrepreneurs from Kenya, Chile, Costa Rico, Jamaica, Dominican Republic, China, London, Paris, Japan and Thailand. Additionally, the paper addresses the implications of entrepreneurial learning by encouraging diverse perspectives and practice for student entrepreneurs in the 21st century.  The originality of the paper is in its diversity of perspectives – it is a collaboration of faculty and staff on three different continents and three academic institutions. Acs, Z.J., & Szerb, L. (2010). The link between culture and entrepreneurship: Universal values, institutional characteristics and individual features. Paper presented at the GEM scientific conference, Imperial College London, 30 September-2 October Billy, I, Egbe, E., Rolle, J.D., et.al, (2016). “College”. American Journal of Entrepreneurship. Callero, Peter L (2016). “The Myth of Individualism: How Social Forces Shape Our Lives. “Rowman & Littlefield, 2013. Drucker, P., (1985), Innovation and Entrepreneurship, Butterworth--‐Heinemann Elsevier, Oxford. Freytag, A., & Thurik, A.R. (2007). Entrepreneurship and its determinants in a cross-country setting. Journal of Evolutionary Economics, 17(2), 117-131. Freytag, A., & Thurik, A.R. (2010). Entrepreneurship and culture. New York: Springer. Gianetti, M. and Simonov, A., (2004), ‘On the Determinants of Entrepreneurial Activity: Social Norms, Economic Environment and Individual Characteristics’, Swedish Economic Policy Review,11, 269--‐313. Jiménez, Gonzalo (2012). “Entrepreneurship in Chile” in book “The Future of Entrepreneurship in Latin America” edited by Brenes, Esteban R. and Haar, Jerry.  Palgrave Macmillan UK Livingstone, C (2000). The Warren Centre Innovation Lecture 2002. Sydney: The Warren Centre for Advanced Engineering. Mueller, S.L., & Thomas, A.S. (2000). Culture and entrepreneurial potential: a nine country study of locus of control and innovativeness. Journal of Business Venturing 16(1), 51-75. Schumpeter, J., (1911/34), The Theory of Economic Development, Harvard University Press, Cambridge, Ma. Segerstrom, P., (1991), ‘Innovation, Imitation and Economic Growth’, Journal of Political Economy, 99, 190--‐ 207. Sutter, R., (2009), The Psychology of Entrepreneurship and the Technological Frontier – A Spatial Econometric Analysis of Regional Entrepreneurship in the United States, PhD Dissertation manuscript, George Mason, Washington. Rolle, J. D., Billy, I., Pittman, J. (2015). “A case study of Entrepreneurship Capacity Building in underserved communities.” Business & Technology Journal (2)1. Rolle, J.D., Billy, I., Acevedo, R., Kisato, J, “Preparing Students for Entrepreneurship Careers”, American International Journal of Humanities and Social Science Vol 2 No. 6 December 2016 https://ijbed.org/cdn/article_file/content_13730_17-12-02-12-48-59.pdf Khasadyahu Zarbabal J. D. Rolle Iris Billy Jacqui Kisato Roberto Acevedo Entrepreneurship innovation experiential learning culture global. 6940 22 0

153 https://ijbed.org/details&cid=153 2017-11-28 This paper explores the role of marketing, policy, and development for emerging economies moving toward a market-driven economic environment. A historical review provides a foundation, then deductive analyses from theoretical reviews and transcripts reveal that such marketing is still in the developmental stages and has become necessary for the future direction of these economies. Following the findings, the paper provides managerial marketing implications and highlights how a market orientation and market-driven approach is necessary for the greater social good in a global economy. Blankson, C., and Cheng, J.M.S. (2005). Have small businesses adopted the market orientation concept? The case of small businesses in Michigan. Journal of Business and Industrial Marketing, 20 (6): 317-30. Blankson, C., Motwani, J.G., and Levenburg, N.M. (2006). Understanding the patterns of market orientation among small businesses. Marketing Intelligence and Planning, 246, 572-590. Blankson, C., and Stokes, D. (2002). Marketing practices in the UK small business sector. Marketing Intelligence & Planning, 20, 49-61. Collins, N. R., & Holton, R. H. (1963). Programming changes in marketing. Cyclops, 16, 123-137. Cook, H. L. (1959). Market structures and economic development in the Philippines. Journal of Farm Economics, XV, 1316-1322. Cooper, D. R., & Schindler, P S. (2001). Business research methods. New York: McGraw-Hill. Cundiff, E. W. (1965). Concepts in comparative retailing. Journal of Marketing, 29, 59-63. Cundiff, E. W., & Hilger, M. T. (1979). Marketing and the production-consumption thesis in economic development. In G. Fisk, R. W. Nason, & P. D. White (Eds.), Macromarketing: Evolution of thought (pp. 59-63). Boulder: University of Colorado. Cundiff, E. W., & Hilger, M. T. (1982). The consumption function: Marketing’s role in economic development. Management Decision, 20 (4), 36-46. Dant, R. P., & Barnes, Jr., J. H. (1988). Methodological concerns in cross-cultural research: Implications for economic development. Research in Marketing, Supplement 4, 149-168. David, F.R. (2009). Strategic Management Concepts and Cases, 12th Edition, Pearson Education International: Prentice Hall, New Jersey. Dawson, L. M. (1980). Setting multinational industrial marketing strategies. Industrial Marketing Management, 9, 179-186. Day, G. S. (1994). The capabilities of market-driven organizations. Journal of Marketing, 58(4), 37-52. Day, G. S., & Wensley, R. (1988). Assessing advantage: A framework for diagnosing competitive superiority. Journal of Marketing, 52(2), 1-20. Deshpande, R. (1999). Developing A Market Orientation. SAGE Publications, California. Deshpande, R., & Webster, F. (1989). Organizational culture and marketing: Defining the agenda. Journal of Marketing, 43(1), 3-15. Deshpande, R., Farley, J. U., & Webster, Jr., F. E. (1993). Corporate culture, customer orientation, and innovativeness in Japan firms: A quadrad analysis. Journal of Marketing, 57(1), 23-37. Dholakia, M. (1984). Marketing in Less Developed Countries: Its nature and prospects. In G.S. Kindra (Ed.), Marketing in Developing Countries (pp. 10-19). New York: St. Martin’s Press. Dholakia, N., & Dholakia, R. R. (1982). Comparative marketing: Marketing in the emerging world order. Journal of Macromarketing, 47-56. Dholakia, N., & Dholakia, R. R. (1984). Missing links: Marketing and the newer theories of development. In G. S. Kindra (Ed.), Marketing in Developing Countries (pp. 57-75). London: Croom Helm. Dholakia, N., & Firat, A. F. (1988). Development in the era of globalizing markets and consumption patterns. Marketing and development: Towards broader dimensions (pp. 79-101). Dholakia, N. & Sherry, J. (1987). Marketing and development. In J. N. Sheth (Ed.), Research in marketing (pp. 57). Greenwich, Conn.: JAI Press. Drucker, P. (1958). Marketing and economic development. Journal of Marketing, 22(3), 252-259. Duhaime, C. P., McTavish, R.., & Ross, C. A. (1985). Social marketing: An approach to third-world development. Journal of Macromarketing, 2(Spring), 3-13. Dunning, J. H, & Hamdani, K. A. (Eds.) (1997). New globalism and developing countries. New York: United Nations Publications. El Sherbini, A-A. (1983). Behavioral analysis of the role of marketing in economic development. Journal of Macromarketing, 76-79. Ellis, P. (2004). Market orientation and performance: a meta-analysis and cross-national comparisons. Working paper. Hong Kong Polytechnic University. Ellis, P. D. (2005). Market orientation and marketing practice in a developing economy. European Journal of Marketing, 39(5/6), 629-645. Felton, A. P. (1959). Making of marketing concept work. Harvard Business Review, 37, 55-65. Food and Agriculture Organization of the United Nations. (1975). Development of food marketing systems for large urban areas. Kuala Lumpur: Author. Galbraith, J. K. (1967). The New industrial state. New York: New American Library. Galbraith, J. K., & Holton, R. H. (1955). Marketing efficiency in Puerto Rico. Cambridge, Mass.: Harvard University Press Garlick, P. C. (1971). African traders and economic development in Ghana. Oxford: Clarendon Press. Griffin, K. (1979). Growth and impoverishment in rural areas of Asia. World Development, 7, 415. Griggs, J. E. (1970). Evaluating marketing change: An application of systems theory. MSU International Business and Economic Studies, 1-14. Hirsch, L. V. (1961). Contribution of marketing in economic development: A generally neglected area. The Social Responsibility of Marketing: Proceedings of the 1961 Winter Conference of the American Marketing Association (pp. 413-418). Chicago: American Marketing Association. Holton, R. (1953). Marketing structures and economic development. Quarterly Journal of Economics, 67, 334-361. Homburg, C., Krohmer, H., & Workman, Jr., J. P. (2004). A strategy implementation perspective of market orientation. Journal of Business Research, 57(12), 1331-1340. Hosley, S., & Wee, C. H. (1988). Marketing and economic development: Focusing on the less developed countries. Journal of Macromarketing, 43-53. Hunt, S. (1976). The nature and scope of marketing. Journal of Marketing, 40(3), 17-28. Hunt, S. (1977). The three dichotomies model of marketing: An elaboration of issues. In C.C. Slater (Ed.), Macromarketing: Distribution processes from a societal perspective. (pp.34). Boulder: University of Colorado. Hunt, S., & Burnett, J. J. (1982). The macromarketing/micromarketing dichotomy: A taxonomical model. Journal of Marketing, 46(3), 11-26. Jaworski, B. J, & Kohli, A. K. (1993). Market orientation: Antecedents and consequences. Journal of Marketing, 57(3), 53-70. Joy, A, & Ross, C. A. (1989). Marketing and development in third world contexts: An evaluation and future directions. Journal of Macromarketing, 17-31. Kaynak, E. (1986). Marketing and economic development. New York: Praegar. Kaynak, E., & Hudanah, B. I. (2001). Operationalizing the relationship between marketing and economic development: Some insights from less-developed countries. European Journal of Marketing, 21, 48-65. Keskin, H. (2006). Market orientation, learning orientation, and innovation capabilities in SMEs: An extended model. European Journal of Innovation Management, 9 (4): 396-417. Kindra, G. S. (Ed.). (1984). Marketing in developing countries. New York: St. Martin’s Press. Kinsey, J. (1988). Marketing in developing countries. London: Macmillan Education. Kinsey, J. (2001). The role of marketing in economic development. European Journal of Marketing, 16(6), 64-76. Kohli, A. K., & Jaworski, B. J. (1990). Market orientation: The construct, research propositions, and managerial implications. Journal of Marketing, 54(2), 1-18. Kohli. A, K., Jaworski, B. J., & Kumar, A. (1993). MARKOR: A measure of market orientation. Journal of Marketing Research, 4, 467. Kotler, P. (1977). From sales obsession to marketing effectiveness. Harvard Business Review, 55(6), 67-75. Kotler, P. (1979). Strategies for introducing marketing into non-profit organizations. Journal of Marketing, 43(1), 37-44. Kotler, P. (1982). Marketing for non-profit organizations. Englewood Cliffs, N. J.: Prentice Hall. Kotler, P. (1987). Marketing management: Analysis, planning and control. Englewood Cliffs, N.J.: Prentice Hall. Kotler, P. (1988). The potential contributions of marketing thinking to economic development. Marketing and development: Towards broader dimensions (pp. 1-10). Englewood Cliffs, N.J.: Prentice Hall Kotler, P. & Andreasen, A. R. (1987). Strategic marketing for nonprofit organizations. Englewood Cliffs, N.J.: Prentice Hall   Kotler, P., &  Roberto, E. L. (1989). Social marketing: Strategies for changing public behavior. New York: Free Press. Kotler, P., and Keller, K.L. (2009). Marketing Management, 3th Edition, Prentice Hall, New Jersey. Kotler, P. (2012). Marketing Management, 5th Edition, Prentice Hall, New Jersey. Kuada, J., and Buatsi, S. (2005). Market orientation and management practices in Ghanaian firms: Revisiting the Jarworski and Kohli framework. Journal of International Marketing, 13 (1): 58-73 Mallampally, P. & Sauvant, K P. (1999). Foreign direct investment in developing countries. Finance and Development, 36, 34-37. Mallen, B. (1973). Functional spin-off: A key to anticipating change in distribution structure. Journal of Marketing, 37(3), 18-25. Mamdani, M. (1972). The myth of population control: Family, caste and class in an Indian village. New York: Monthly Review Press. Maner, M. (1996). The spiral guide to research writing. New York: McGraw-Hill. McCarthy, E. J. (1963). Effective marketing institutions for economic development. In S. A. Greyser (Ed.), Towards Scientific Marketing (pp. 393-404). Chicago: American Marketing Association. McNamara, C. P. (1972). The present status of the marketing concept. Journal of Marketing, 36(1), 50-57. Mentzer, J. T., & Samli, A. C. (1981). A model for marketing in economic development. Columbia Journal of World Business, 91-101. Moyer, R. (1972). Macromarketing: A social perspective. New York: Wiley. Moyer, R., & Hollander, S. C. (1968). Markets and marketing in developing countries. Homewood, Ill.: Irwin. Myrdal, G. (1972). Asian drama: An enquiry into the poverty of nations. (Abridged ed.) New York: Vintage Books. Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20-34 Olsen, J. E., & Granzin, K. L. (1990). Economic development and channel structure: A multinational study. Journal of Macromarketing, Fall, 61-77. Ortiz-Buonafina, M. (1987). The economic efficiency of channels of distribution in a developing society: The case of the Guatamalan retail sector. Journal of Macromarketing, 7(2), 17-25. Parsons, T., & Smelser, N. J. (1956). Economy and society. New York: Free Press. Preston, L. E. (1967). Market development and market control. In R. Moyer (Ed.), Changing marketing systems: Consumer, corporate and government interface (pp. 223-227). Washington D.C.: American Marketing Association. Preston, L. E. (1968). The commercial sector and economic development. In R. Moyer & S. C. Hollander (Eds.), Markets and marketing in developing economies (pp. 9-23). Homewood, Ill.: Irwin. Preston, L E. (1970). Marketing organizations and economic development: Structures, products and management. In L.P. Bucklin (Ed.), Vertical marketing systems (pp. 116-134). Chicago: Scott Foresman. Preston, P. W. (1982). Theories of development, Boston: Routledge and Kegan Paul. Rao, T. R. (1976). Marketing and economic development. Marketing and Management Digest, 15-18. Raju, P. S., Lonial, S. C., & Gupta, Y. P. (1995). Market orientation and performance in the hospital industry. Journal of Healthcare Marketing, 15(4), 34-41. Rathje, W. L., & McGuire, R. H. (1982). Rich men…poor men. American Behavioral Scientist, 25, 705-715. Romano, C. A. (1989). Research strategies for small business: a case study approach. International Small Business Journal, 7(4), 35-43. Rostow, W. W. (1964). View from the seventh floor. New York: Harper and Row. Roy, W. G. (1984). Class conflict and social change in historical perspective. Annual Review of Sociology, 10, 483-507. Ruekert, R. W., Walker, Jr., O. C., & Roering, K. J. (1985). The organization of marketing activities: A contingency theory of structure and performance. Journal of Marketing, 49(1), 13. Savitt, R. (1988). The state of the art in marketing and economic development. Marketing and development: Towards broader dimensions, 11-37. Jai Press Inc. Schneider, P. H. (2005). International trade, economic growth and intellectual property rights: A panel data study of developed and developing countries. Journal of Development Economics, 78(2), 529-547. Sethi, S. P. (1971). Comparative cluster analysis for world markets. Journal of Marketing Research, 348-354. Shapiro, B. P. (1988). What the hell is “market oriented”? Harvard Business Review, 66(6), 119-25. Sharif, M. (1988). Development, distribution and socio-economic behavior: Evidence from household data. Unpublished paper. Warwick: University of Rhode Island, Department of Economics. Shawver, D. L., &  Nickels, W. G. (1979). A rationalization for macromarketing concepts and definitions. In G. Fisk & R. W. Neeson (Eds.), Macromarketing: new steps on the learning curve. Boulder: University of Colorado Press. Shapiro, Benson P. (1988) What the hell is “market oriented”? Harvard Business    Review, 66 (November-December), 119-25 Sherry, Jr., J. (1987). Cultural propriety in a global marketplace. In F. Firat, N. Dholakia, & R. P. Bagozzi (Eds.), Philosophical and radical thought in marketing (pp. 79-127). Lexington, Mass.: Lexington Books. Sheth, J. N, Garrett, D. E, & Gardner, D. M. (1988). Marketing theory: Evolution and evaluation. New York: Wiley. Slater, C. C. (1968). Marketing processes in developing Latin American societies. Journal of Marketing, 32(3), 50-55. Slater, S., & Narver, J. (1994). Does competitive environment moderate the market orientation-performance relationship? Journal of Marketing, 58(1), 46-55 Stewart, C. F. (1961). The changing Middle East market. Journal of Marketing, 25(3), 47-51. Siguaw, J. A., & Diamantopoulos, A. (1995). Measuring market orientation: Some evidence on Narver and Slater’s three-component scale. Journal of Marketing, 58(1), 35-45 Siguaw, J., Brown, G., & Widing, R. (1994). The influence of the market orientation of the firm on sales force behavior and attitudes. Journal of Marketing Research, 31, 106-116. Slater, S., & Narver, J. (1995). Market orientation and the learning organization. Journal of Marketing, 58(1), 46-55. Slater, S. F., & Narver, J. C. (2000). Market oriented is more than being customer-led. Strategic Management Journal, 20, 1165-1168. Stigler, G. J. (1951). The division of labour is limited by the extent of the market. Journal of Political Economy, 54, 185-193. Todaro, M. P. (1981). Economic development in the third world. Second ed. New York: Longman. Vamvakidis, A. (2002). How robust is the growth-openness connection? Historical evidence. Journal of Economic Growth 7(1), 57-80. Varadarajan, P. R. (1984). Marketing in developing countries: The new frontier. Long Range Planning, 17(6), 118-126. Venkatesh, A., & Dholakia, N. (1986). Methodological issues in macromarketing. Journal of Macromarketing, Fall, 36-52. Wadinambiaratchi, G. H. (1965). Channels of distribution in developing economies. Business Quarterly, 30, 74-82. Wadinambiaratchi, G. H. (1972). Theories of retail development. Social and Economic Studies, 4, 391-404. Wallerstein, I. (1979). The capitalist world economy. New York: Cambridge University Press. Wallerstein, I. (1984). The politics of the world economy. New York: Cambridge University Press. Wells, Jr., L. T. (1968). A product life cycle for international trade? Journal of Marketing, 32(3), 1-6. Webster, F. (1992). The changing role of marketing in the corporation. Journal of Marketing, 56(4), 1-17 Williamson, D. (1975). Markets and hierarchies. New York: Free Press. Wind, Y., & Robertson, T. S. (1983). Marketing strategy: New directions for theory and research. Journal of Marketing, 47(2), 12. Wood, V. R., & Vitell, S. J. (1986). Marketing and economic development: Review, synthesis and evaluation. Journal of Macromarketing, Spring, 28-45. Woodruff, E. (1958). Let’s export marketing know-how. Harvard Business Review, 33(6), 70-76. Yoshino, M. Y. (1971). The Japanese marketing system. Cambridge, Mass.: MIT Press. Zif, J. (1980). A managerial approach to macromarketing. Journal of Marketing, 44(1), 36-45. Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3), 2-22  Zusman, P., & Amiad, A. (1977). A quantitative investigation of a political economy: The Israeli dairy program. American Journal of Agricultural Economics, 59, 88-98. https://ijbed.org/cdn/article_file/content_76041_17-11-28-11-14-52.pdf Rodney Oudan Marketing emerging economies policy development production. 5410 22 0

154 https://ijbed.org/details&cid=154 2017-11-28 Purpose: To assess the impact of policy, market size, trade openness & natural resources endowment on foreign direct investments in MENA countries. Methods: Meta-analysis has been incorporated that has combined data from multiple studies. It has systematically assessed the results of previously conducted researches for obtaining accurate results. The study has incorporated incomplete and unbalanced data from 17 MENA countries between the years 1960 and 2012.         The data was obtained from World Development Indicators, World Bank, and Energy Information Administration. Results: The results have identified that oil reserves have a negative influence on FDI inflows. Trade openness was positive and significant at 5%. Similarly, the impact of market size, measured as GDP constant, was also positive and significant at 10%. Conclusion: It has been evaluated that market size, trade openness, and natural resource have a positive impact on foreign direct investments among MENA countries. Originality Statement: The study is based on certain factors for assessing their impact on FDIs. Such originality has a closer relevance to assessing the market size, trade openness and natural resources among oil-producing countries. Abbott, A. J., & De Vita, G. 2011. Evidence on the impact of exchange rate regimes on bilateral FDI flows. Journal of Economic Studies, 38(3), 253-274. Doi: 10.1108/01443581111152382 Asiedu, E., & Lien, D. 2011. Democracy, foreign direct investment and natural resources. Journal of international economics, 84(1), 99-111. Doi: 10.1016/j.jinteco.2010.12.001 Asiedu, E., Dzigbede, K., & Nti-Addae, A. 2015. 23. Foreign Direct Investment, Natural Resources, and Employment in Sub-Saharan Africa. AFRICA at a Fork in the Road, 395. Bekhet, H. A., & Al-Smadi, R. W. 2014. Determining the causality relationships among FDI determinants: evidence from Jordan. International Journal of Sustainable Economy, 6(3), 261-274. Doi: 10.1504/ijse.2014.063184 Bekhet, H. A., & Matar, A. 2013. The Impact of global financial crisis on the economic growth and capital market returns: evidence from Jordan. In the Twelfth Scientific Annual International Conference for Business (Human Capital in a Knowledge Economy) (pp. 22-25). Blonigen, B. A. 2005. A review of the empirical literature on FDI determinants. Atlantic Economic Journal, 33(4), 383-403. Denisia, V. 2010. Foreign direct investment theories: An overview of the main FDI theories. Dunning, J. H. 1980. Toward an eclectic theory of international production: Some empirical tests. Journal of international business studies, 11(1), 9-31. Hisarciklilar, M., Gultekin-Karakas, D., & Asici, A. A. 2014. Can FDI be a Panacea for Unemployment? The Turkish Case. In Labor and employment relations in a globalized world (pp. 43-70). Springer International Publishing. DOI: 10.1007/978-3-319-04349-4_3 Hisarciklilar, M., Kayam, S. S., & Kayalica, O. 2006. Locational Drivers of FDI in MENA Countries: a spatial Attempt. Khayat, S. H. 2017. Institutional Dimension of Investment Profile, Natural Resources & Foreign Direct Investments: A Case of MENA Oil Producing Countries. International Journal of Economics and Finance, 9(8), 33. Medvedev, D. 2012. Beyond trade: the impact of preferential trade agreements on FDI inflows. World Development, 40(1), 49-61. Doi: 10.1016/j.worlddev.2011.04.036 Mottaleb, K. A., & Kalirajan, K. 2010. Determinants of foreign direct investment in developing countries a comparative analysis. Margin: The Journal of Applied Economic Research, 4(4), 369-404. Doi: 10.1177/097380101000400401 Onyeiwu, S., & Shrestha, H. 2004. Determinants of foreign direct investment in Africa. Journal of Developing Societies, 20(1-2), 89-106. Doi: 10.1177/0169796X04048305 Pearson, D., Nyonna, D., & Kim, K. J. 2012. The Relationship between economic freedom, state growth and foreign direct investment in US States. International Journal of Economics and Finance, 4(10), 140. Doi: :10.5539/ijef. v4n10p140 Rogmans, T., & Ebbers, H. 2013. The determinants of foreign direct investment in the Middle East North Africa region. International Journal of Emerging Markets, 8(3), 240-257. Seetanah, B., & Rojid, S. 2011. The determinants of FDI in Mauritius: a dynamic time series investigation. African Journal of Economic and Management Studies, 2(1), 24-41. Doi: 10.1108/20400701111110759 Wong, K., & Tang, T. 2010. FDI and employment in manufacturing and services sectors: fresh empirical evidence from Singapore. Journal of Economic Studies, 38(3), 313-330. https://ijbed.org/cdn/article_file/content_13321_17-11-28-11-20-55.pdf Sahar Hassan Khayat Foreign Direct Investments Market Size Trade Openness & Natural Resources 5793 19 0