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Review of related literature and studies

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Review of related literature and studies

  1. 1. 1 CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES This chapter presents the related literature and studies both local from foreign and local sources. This also includes of the synthesis of the art, gap bridged study and the theoretical framework terms are defined conceptually and operationally for clarity. Foreign Literature Hardware Establishments of Import Products may preclude in the stride of import products to a business may include to the international trade that the exchange of capital, goods, and services across international borders or territories.[1] In most countries, such trade represents a significant share of gross domestic product (GDP).Without international trade, nations would be limited to the goods and services produced within their own borders. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture. Another difference between domestic and international trade is that factors of production such as capital and labor are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production.2 Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example is the import of labor-intensive products by the Philippines from Japan. Instead of importing Japan labor, the Philippines imports goods that were produced with Japan labor.
  2. 2. 2 Much research relating to consumer attitudes toward foreign products has been conducted in large industrialized countries, with big internal markets and a range of domestic brands.3 The study examines the impact of consumer ethnocentrism, animosity, interest in foreign travel and perceived availability of domestic products. Both consumer ethnocentrism and feelings of animosity result in reluctance to purchase Philippine products. Product evaluation is, however, mediated by perceived availability of domestic alternatives and travel to other countries.4 Local Literature Parallel imports (PI), also called gray-market imports, are goods producedgenuinely under protection of a trademark, patent, or copyright, placed into circulation in one market, and then imported into a second market without the authorization of the local owner of the intellectual property right. This owner is typically a licensed local dealer. For example, it is permissible for a one hardware stores firm to purchase quantities of prescription Products like Barrel in Japan and import them into Philippines without the approval of the local distributor owning licensed patent rights. Indeed, rules of the internal market in the European Union permit parallel trade among those countries in virtually all goods.5These goods are authorized for original sale, not counterfeited or pirated merchandise. Thus, parallel imports are identical to legitimate products except that they may be packaged differently and may not carry the original manufacturer’s warranty.6 The ability of a right-holder to exclude PI legally from a particular market depends on the importing nation’s treatment of exhaustion of intellectual property rights (IPR). As discussed further below, a regime of national exhaustion awards
  3. 3. 3 the right toprevent parallel imports, while one of international exhaustion makes such imports legal. Regulation of PI in the pharmaceuticals area has become a critical issue in the global trading system. Advocates of strong international patent rights for support a global policy of banning PI, arguing that if such trade were widely allowed it would reduce profits in the research-intensive pharmaceutical sector and ultimately slow down innovation of new drugs. Moreover, PI could make it difficult for authorities in Philippines to sustain differential price controls and regulatory regimes. However, in Philippines argue that it is important to be able to purchase products from the cheapest sources possible, requiring an open regime of PI. Whether or not such imports actually occur, the threat that they might come in could force distributors to charge lower prices. It is evident that policymakers in our country especially would place a higher weight on affordability of than on promoting R&D abroad.7 Foreign Studies The Hardware Establishments assumed an imports and exports, since that business is assuming for the import products from the supplier, this are the two important components of a foreign trade. Foreign trade is the exchange of goods and services between the two countries, across their international borders. Imports' imply the physical movement of goods into a country from another country in a legal manner. It refers to the goods that are produced abroad by foreign producers and are used in the domestic economy to cater to the needs of the domestic consumers. Similarly, 'Imports' imply the physical movement of goods in of a country in a legal manner. It refers to the goods that are produced domestically in a country and are used to cater to the needs of the consumers in foreign countries. Thus, the imports and exports have made the world a local market. The country which is purchasing the goods is known as the importing country and the country which
  4. 4. 4 is selling the goods is known as the exporting country. The traders involved in such transactions are importers and exporters respectively.8 The Hardware establishments in India are regulated by the Foreign Trade (development and Regulation by which the products has been delivered by the supplier is replaced the import Control, and gave the Government of India enormous powers to control it. In the Hardware establishments of India formulates and announces the import policy (IM policy) that the products of the supplier have a proper way to released that products and amends it from time to time. IM policy refers to the policy measures and adopted by a country with reference to its imports. Such a policy become particularly important in a country like India and also the Philippines, where the import of items plays a crucial role not just in balancing budgetary targets, but also in the overall economic development of the country. The principal objectives in the policy of India are: To facilitate sustained growth in import products of the country so as achieve larger percentage share in global merchandise trade, to provide domestic consumers with good quality products and services at internationally competitive prices as well as creating a level playing field the domestic producers, to stimulated economic growth by providing access to essential raw materials, intermediates, components, consumables and capital of goods required for augmenting production and services, to enhance a technological strength and efficiency of Indian agriculture, industry and services, thereby improving their competitiveness to meet the requirement of the global markets, and to generate new employment opportunities and to encourage the attachment of internationally accepted standards of quality. Local Studies This paper examines whether import substitution can be applied at the regional level. It further explores whether a region may consider import substitution as the sole means of achieving resolution for regional economic
  5. 5. 5 development given the contemporary global outsourcing economy. This research is informed by a comprehensive literature review and evaluation of case studies. The results drawn from this research indicate that import substitution offers great potential as a driver for regional economic development. Advancing an overall awareness of sustainability and regional economic stabilization has indeed increased the need for reconsideration of this strategy. Local-serving industries provide a multiplier effect as valuable as that associated with exporting industries, and substitution of imports may induce the promotion of such local- serving industries. In particular, import substitution has proven to be effective in certain industries, including agriculture, foods, health care, and retail. Exemplary case studies suggest several implementation tools that may be appropriate for regional use. Thus, a region should establish a focus on import substitution in order to improve and stabilize its economy. 9 However, import substitution does not provide the conclusive answer for regional economic development since the current global outsourcing economy leads most firms to import at least some portion of their necessary inputs from international regions. With that in mind, multiple regions are involved in producing a good or service from the early stage to the final stage of production, thus sharing overall revenues from production. Consequently, the revenues a region may generate from exporting these goods and services are indeed less than the revenues the region might have gained through similar levels of exports in the pre-globalized economy.10 As neither import substitution nor export base development can stand alone today, a combined approach is necessary. This paper concludes that a region should develop a portfolio strategy for regional economic development and that import substitution should be a significant element of its portfolio. That collection can include substituting imports in some sectors and promoting exports in others.11
  6. 6. 6 Synthesis of the Art In the study of all import products to the Hardware Establishments that may be encountered problems when come to this particular research there was a factor and positive effects when it comes to the stride of importing products. If the supplier has a power and has a strong grip to facilitate the products and released to them, it is the best way and may properly make those import products from the supplier and even to sell-in with their customers of the Hardware establishments. A major distinction of this study from the other previous studies is that focuses an open commodities that the hardware Establishment’s may encountered a problem, since this study is focused on import products under their related sources. Gap Bridged by the Study All the import products, but, not all the products is successfully delivered on the Hardware Establishments. The findings of research studies is to focused of what may be problems encountered on the Hardware Establishments when the products from the supplier is failed to amuse with the owner of the establishments, but most of the time this problems may encountered bought a challenge plays a crucial role not just in every imported products, there is a capability to ensure more efficient in the stride of importation industry that have subject to import the product from the supplier properly. It also explains the level in measuring the quality and quantity of the problem in the hardware establishments in many terms, when it comes to the type of ownership may declared in the two parties of supplier and the owner of the hardware business establishments.
  7. 7. 7 Theoretical Framework Conditionally-Free Import Theory is formulated by the Import Regulations Theory. In this Theory, There are a few articles shall be exempt from the supplier has been is only promulgated by the products that have delivered that cause a problem in the different matter. Aside for this theory the problems encountered of import products of which article sold, battered in the availability of the products to the owner of hardware establishments or used of purposes other than that were intended for without prior to the supplier and owners interests. Figure 1 Theoretical Framework of the Study PROLEMS ENCOUNTERED OF HARDWARE ESTABLISHMENTS OF IMPORT PRODUCTS IN LEGAZPI CITY, ALBAY CONDITIONALY- FREE IMPORT THEORY THE PRODUCTS THAT IS SUBJECT FOR IMPORT, THE SUPPLIER MAY CAUSE A PROBLEM PRIOR OF NOT ENGAGED TO THE OWNER OF THE ESTABLISHMENT S
  8. 8. 8 Conceptual Framework This Conceptual Framework present figure 2. It is focused on the problems may encountered of import products to the Hardware Establishments in Legazpi City, Albay. In order to have a clearer review of the problems may encounter of Hardware Establishments, this will affect to the business of the owner and interest of that product regarding to the failure or not properly declared to import products in their establishments. They will be encountered problems because of the failure of the supplier with quality of products. Figure 2 Conceptual Framework PROBLEMS ENCOUNTERED OF THE HARDWARE ESTABLISHMENTS OF IMPORT PRODUCTS IN LEGAZPI CITY, ALBAY REASON THAT THE SUPPLIER BROUGHT THE PRODUCT IN THE HARDWARE ESTABLISHMENTS IS HAVE A DAMAGED PROBLEMS MAY ENCOUNTERED OF THE PARTNERSHIP OF OWNER BETWEEN THE SUPPLIER THE PRODUCTS THAT IS SUBJECT FOR IMPORT, THE SUPPLIER MAY CAUSE A PROBLEM PRIOR OF NOT ENGAGED TO THE OWNER OF THE ESTABLISHMENTS NOT DECLARED TO DELIVERED PROPERLY THE PRDUCTS FROM THE SUPPLIER EVEN THE CUSTOMER IS NOT SATISFIED WITH THE PRODUCTS
  9. 9. 9 Definition of Terms To provide the readers with the clarity and better understanding, the following terms were conceptually and operationally defined. Importing Problems. The term means an act of execution or completion. The term in the study refers to the total way or result of the imported products to the hardware establishments by which the ownership when it comes to a business. Performance. A filed by a supplier, or concerned party, to guarantee performance of certain work, like importing a product to the establishments that can cause a problem until they have released the products is not accepted to the Hardware Establishments owner. Ownership Knowledge. General possession, principles, Specific information clear understanding, observance through his/her experience in the business. This study refers to general possession the level of competency between the suppliers to avoid such problem that may encountered. Clarity. The supplier may state for being clear with the partnership with the owner of the establishments, and have either thought or style of the supplier engaging in the particular business to be obvious
  10. 10. 10 Notes 1”International Trade” (Import Products)” Web 7/14/14 <> 2”Attitudes toward the purchase of Foreign Products: Extending the Model” Web, 7/14/14 <> 3” The Impact of Trade Liberalization on Import Substituting Industries in Ghana” Web, July 14, 2014 < ort_Substituting_Industries_in_Ghana> 4”Exports and Imports” Web, July 14, 2014 <> 5”Import substitution at the general regional level” Application in the united states” Web July 14, 2014 pdf 6“Sachs, Jeffrey, Michael Kremer and Amar Hamada, (1999) "The Case for a Vaccine Fund," Center for International Development, Harvard University, at 7“Import and Export Rules and Regulation” Book, Llave review and Training Center ‘Dictionary of Tariff and Customs Terms” Book Author: Prof. Jesus G. Llorando
  11. 11. 11 Llave review and Training Center 8”Education Portal” Web, August 3, 2014 Export_Courses_and_Classes.html