International Journal of Diplomacy and Economy (31 papers in press)

Regular Issues

• Company Specific Antecedents to Stock Returns: A Statistical Investigation with Special Reference of the NIFTY 50  
  by Sweta Goel, Nikhil Yadav, Nassir Ul Wani, Aamir Syed 
  Abstract: This study examines the relationship between stock returns and company-specific factors. Specifically, the study investigates the effect of Growth, Earnings, Dividends, Financial Ratios, Risk, and Volatility on the stock returns of companies listed on the Indian Stock Exchange. The study used an ex post facto research design. The population comprised all Companies listed on NIFTY 50, National Stock Exchange, India. Multiple regression analysis is used to analyze the data and test the hypothesis that financial indicators significantly impact stock returns. Findings reveal that several independent variables, such as Earnings per Share, Dividend Payout Ratio, and Price-to-Book Ratio had a statistically significant relationship with stock returns. This study provides valuable insights for investors and analysts regarding the stock selection process. The findings suggest that combining company-specific factors can help predict stock returns. Few studies have addressed the interplay of company-specific factors and stock returns. This paper provides unique insights into this relationship in a developing economy using comprehensive financial metrics and advanced statistical techniques.
  Keywords: Company-Specific Factors; Stock Returns; Dividends; Financial Ratios.
  DOI: 10.1504/IJDIPE.2024.10064766
   
  
• Solidifying the Concept of Political Will to Promote Decoloniality and Migration Diplomacy in South Africa  
  by Joyce Toendepi, Eric B. Niyitunga, James Asani 
  Abstract: The lack of political will has impeded the decolonisation of migration diplomacy in South Africa. Political will is a critical pillar in applying migration laws and the practice of migration diplomacy in Africa. Unfortunately, African scholars of decoloniality have not yet explored the role and effects of political will in promoting decoloniality and migration diplomacy in South Africa. This paper adopts a qualitative research methodology with an explanatory approach to achieve its objectives. Thematic content analysis was used to identify and analyse data patterns systematically and objectively and assemble a shared interpretation. The findings show that the lack of political will has affected the fate of decoloniality, migration laws and diplomacy in South Africa. The paper recommends that African leaders understand the effects and role of political will in promoting decoloniality and addressing the failures of migration diplomacy in South Africa.
  Keywords: Migration; migration laws; migration diplomacy; political will; coloniality; decoloniality; South Africa.
  DOI: 10.1504/IJDIPE.2024.10065241
   
  
• After Nearly 50 Years of Ping-Pong Diplomacy: Does the Tense Contemporary US-China Relationship Need A Return to Sports Diplomacy  
  by Mohamad Zreik  
  Abstract: Sports have historically bridged gaps that wars, politics, and economics could not. Ancient rulers turned to sports to mend fractured ties between kingdoms and empires. A prime example is "ping-pong diplomacy." In the early 1970s, amidst strained US-China relations, an unexpected interaction between Glenn Cowan (US) and Zhuang Zedong (China) at the World Table Tennis Championships catalyzed US President Nixon's visit to China, rekindling diplomatic ties. However, five decades later, US-China relations are again. Amidst a backdrop of trade wars and political tensions, this paper explores the potential of sports diplomacy in mending US-China relations, asking: "Can sports diplomacy reset US-China relations?" Drawing from primary and secondary sources, this study highlights the pivotal role sports played historically and suggests that sports diplomacy might again be the tool to reorient the trajectory of US-China ties.
  Keywords: Sports Diplomacy; Ping-pong Diplomacy; US-China Relations; Public Administration; Management.
  DOI: 10.1504/IJDIPE.2024.10065743
   
  
• Indo-Pak Diplomacy- Prospects and Barriers  
  by Tansif Rehman 
  Abstract: Diplomacy is the art and practice of negotiating between representatives of different states or organizations to achieve mutual agreements or the resolution of conflicts. Diplomacy involves negotiation, communication, and compromise to resolve disputes peacefully. Diplomacy in the modern period expands its activities to several locations, yet, it is subject to unprecedented consequences and restrictions. Expanding global multidimensional diplomacy's structure and themes indicate its expanding impact. Since the creation of two independent countries, namely Pakistan and India, they have been fixated on their various disputes. These countries fought three conventional wars and frequently demonstrated their nuclear power capabilities to intimidate each other. The underlying issue is that Pakistan and India have destabilized regional and global stability and socioeconomic growth.
  Keywords: digitization; diplomacy; global aspects; India; institutional aspects; Pakistan.
  DOI: 10.1504/IJDIPE.2024.10065744
   
  
• Science diplomacy merging with commercial diplomacy in small and developed countries  
  by Slobodan Šešum 
  Abstract: The challenges that humanity is facing nowadays are rooted in science and technology and call for an international approach. Science is important not only for solving these common problems but is swiftly gaining importance in the economy. A continually important topic in the economy, which is rapidly coming back to the fore today, is the question of productivity and innovation, which cannot be improved without cooperation with the scientific sphere. The term "science diplomacy" is a buzzword, but its exact meaning is not clear. Activities of commercial diplomacy can be "reactive" and "proactive." For small countries, it is irrelevant whether we call it economic or commercial diplomacy. Small countries may have a different understanding of the concept of science diplomacy, namely, a much broader one. By combining science diplomacy with commercial diplomacy, small and developed countries can leverage their scientific and technological capabilities to drive their economic growth and competitiveness.
  Keywords: Science diplomacy; commercial diplomacy; economic diplomacy; diplomacy; small countries; productivity; economic counsellor; global challenges.
  DOI: 10.1504/IJDIPE.2024.10065745
   
  
• Does Diplomacy Influence Stock Market Trends?: Analyzing the Impact of the Russia-Ukraine Conflict on India and the US During and After War  
  by Neha Seth, Vengababu Baleboina 
  Abstract: The present paper aims to study the diplomacy influence on the stock market by analyzing the impact of Russia and Ukraine’s warfare in the long run, short run, dynamic relationships, and innovations between Brent crude oil, the Nifty 50, and the S&P 500. So, the study collects the daily closing prices. The entire study period has been split into two sections: before and during the war. The cointegration model is used to examine the long-term relationship. It found that there is no cointegration. also, there is no short-term relationship except for S&P 500 to Nifty 50 in both periods. While checking the impulse response and variance decomposition, it was observed that before war, there was a negative trend response in Brent to S&P 500, and during the war, there was a negative trend response in Brent to Nifty 50, the S&P 500 to Brent, and Nifty 50 to Brent.
  Keywords: Ukraine and Russia conflict; Nifty 50; Brent oil; S&P 500; Cointegration; Causality; Impulsive Response Function; Stock market; Crude oil; Indian; US; Diplomacy.
  DOI: 10.1504/IJDIPE.2024.10065747
   
  
• Russia-Ukraine conflict Disturbance of Global Supply Chain  
  by Sarfraz Hussain, Kiran Shrimant Kakade, Saravanakumar S, CA.Kamakshi Mehta 
  Abstract: Russia and Ukraine, the unpredictability and volatility of global economic policies have been significantly ratcheted up to a much higher level. The chance that global economic policies would fall short of their goals as a result of this development has significantly risen. Within the context of economic globalization, the primary question that we investigate is whether or not the unpredictability of global economic policy will have distinct effects on the manufacturing sectors of the world's three most significant economies: China, the United States of America, and the European Union. These are the economies that make up the United States of America, the European Union, and China, respectively. For the purpose of analyzing the effect that global economic policy uncertainty (GEPU) has on manufacturing between the years of March 2008 and March 2023, this study employs a model that is known as a time-varying parameter vector autoregressive model (TVP-VAR).
  Keywords: global economic policy uncertainty; manufacturing; PMI; TVP-VAR.
  DOI: 10.1504/IJDIPE.2024.10065748
   
  
• Comparative Insights into the Digital Transformation of the Tourism Industry: A Literature Review  
  by Yuan Zhang, Habil. Zoltán Szabó, Habil. Árpád Papp-Váry, Ragif Huseynov, Nidhi Shukla, Aamir Syed 
  Abstract: This review conducts a comparative analysis of digital transformation in the tourism industry, bridging Chinese and international perspectives. Utilizing an interdisciplinary framework, it critically evaluates the transformative role of digital technologies on operational and managerial aspects of tourism. The findings highlight distinct approaches and outcomes of digitalization in different regions, revealing three primary dimensions: consumer experience enhancement, innovative business models, and sustainability practices. The review acknowledges the dual nature of digital transformation, offering opportunities for improved consumer engagement and operational efficiency while addressing challenges like data privacy and sustainable development. A significant contribution of this paper is its synthesis of diverse impacts of digital transformation across various geographical contexts, providing strategic insights for industry practitioners and policymakers in the digital era, especially under the influence of the COVID-19 pandemic.
  Keywords: Digital Transformation; Tourism Industry; Comparative Analysis; COVID-19 Impact; International Perspectives.
  DOI: 10.1504/IJDIPE.2025.10067118
   
  
• Cultural Diplomacy and Informal Artistic Relations in china in the 20th Century: A Global Perspective  
  by Kiran Shrimant Kakade, Jayant Shaligram Brahmane, Anjali Kulkarni, Subhash Yadav, Arjita Jain 
  Abstract: A notion that relates to the sharing of art, information, ideas, and other aspects of culture between countries and their people in order to enhance and expand mutual understanding is referred to as cultural diplomacy. Increasing the amount of contact that occurs between different populations and fostering the development of trust between countries via cooperation and collaboration are two examples that demonstrate the significance of cultural diplomacy. Through an emphasis on shared values and a shared humanity, cultural diplomacy fosters international cooperation and supports international cooperation. It is partially a response to fears about the perceived development of Chinese soft power, and partly a consequence of changing attitudes among the elite who make decisions about foreign policy regarding the uses of new social media. During the process of making this investment, the conditions associated with both the international and the regional arenas are being taken into account.
  Keywords: Cultural diplomacy; Global Perspective; Network studies; cultural relations literature; Globalization and transnational.
  DOI: 10.1504/IJDIPE.2025.10067119
   
  
• The Evolution of Human Resource Roles in Business: A Systematic Literature Review from Origins to the Present  
  by Divya Shukla, Mitushi Singh 
  Abstract: Human resource management have been drastically changing with the business environment. The concept of HR roles has evolved drastically over the last four decades with the changing technology, nature of the industry, and scale of operation. This study summarizes the eminent work on HR roles and its evolution over the years. As the operation change, the role of Human Resource mutates, and based on these changes the literature on HR roles is evolving. The objective of the study is to capture the evolution of HR roles through a systematic literature review. The study highlights three themes which are, traditional human resource management, strategic human resource management, and international human resource management. The purpose of the research paper is to identify the gaps in the existing literature on HR roles and encourage scholars to work on those gaps.
  Keywords: Human resource roles; HR roles; human resource management.
  DOI: 10.1504/IJDIPE.2025.10067120
   
  
• WMD Proliferation Concerns in the Era of Great Power Competition: An Indian Perspective  
  by Anamika Gulati, Laxman Kumar Behera, Gaurav Tyagi 
  Abstract: The ongoing great power rivalry between the US-led democratic alliance on one hand and Russia and China on the other has brought the sharp focus on proliferation concerns. In this paper, we have discussed the proliferation concerns in the changing world order with a special focus on the Indo-Pacific region, which has emerged as the center of great power competition. We argue that the Russian invasion of Ukraine and the Chinese belligerence and expansionism are the key drivers of proliferation concerns in the region. We have also discussed the efficacy of various multilateral export control regimes in dealing with the evolving proliferation concerns. Lastly, we have discussed India’s non-proliferation efforts and how, and why, India can play a significant role in the global non-proliferation efforts.
  Keywords: Weapon of mass destruction; non-proliferation; multilateral export control regimes; Russia-Ukraine conflict; treaties; NSG; disarmament.
  DOI: 10.1504/IJDIPE.2025.10067121
   
  
• INTERNATIONAL PORTFOLIO DIVERSIFICATION - A COMPARISON OF INDIVIDUAL INVESTORS IN AUSTRIA AND MEXICO  
  by Vito Bobek, Tobias Boh, Tatjana Horvat 
  Abstract: Investors tend to overweigh domestic stocks in their portfolios. This insufficient diversification negatively impacts their performance and harms investors. The present paper investigates differences in the approach to international diversification between individual investors from Austria and Mexico. Comparing investors from these two countries offers further insights concerning the observable gap in international diversification between developed and emerging economies. A survey among individual investors from Austria and Mexico was conducted. The survey results show that retail investors from both countries express significant levels of home bias, with Austrian investors expressing a higher affinity for international diversification in general and Mexican investors expressing a higher preference for domestic stocks. These findings underline the complex nature of the puzzle, showing once more that investors express a deeply rooted home bias in their investment decisions. The results emphasize the need for adequate financial education to highlight the advantages of international portfolio diversification.
  Keywords: Home bias; portfolio diversification; investments; Austria; Mexico.
  DOI: 10.1504/IJDIPE.2025.10067122
   
  
• Chinese Economic Diplomacy, Public-Private Partnerships and Nigerian Lekki Deep-Seaport  
  by Olukayode Faleye, Ozekhome G. Igechi 
  Abstract: This paper examines the emerging trends in Chinese economic diplomacy characterized by the transition from state loans to Public-Private Partnerships (PPPs) in Africa. It discusses how the Nigerian Lekki Deep Seaport symbolizes a new wave of Sino-African PPP. The existing literature on Chinese economic diplomacy is built on the dichotomized views of the debt trap and aids narratives. Studies have criticized the Sino-African PPPs as an illusion designed by China to sustain African underdevelopment. We nevertheless present a counter-narrative in this study and argue that African agencies can strategically improve their negotiating capacities to create favourable conditions for growth. Based on the analyses of diverse official sources and the extant literature, this paper concludes that this peculiar example of Sino-African PPPs ensures the convergence of national interest and global justice.
  Keywords: AfCFTA; BRI; Global Justice; Lekki Deep-Seaport; Regional Economy; Sino-African PPPs; Transportation Infrastructure.
  DOI: 10.1504/IJDIPE.2025.10067123
   
  
• The correlation between stress and economic crisis Models of economic diplomacy  
  by Jayalakshmi M, Kiran Shrimant Kakade, Jayant Brahmane, Anjali Kulkarni, Shailendrakumar Kale 
  Abstract: It is commonly known that economic stress presents a considerable danger to the health and productivity of workers, particularly during times of economic crisis on a global scale. The study was conducted with the specific objective of determining whether or not one of them, or both of them, are related with one another. We arrived at the conclusion that the stress brought on by the economy may perhaps have a detrimental impact on creativity in both a direct and indirect manner, via an increase in absenteeism. The years 2018 and 2019, the investigation that was carried out as a part of a cross-sectional research study which takes place at a product manufacturing facility. It came to the process of gathering answers for the Stress Questionnaire, the nine-item scale, and a single-item questionnaire about absenteeism, there were a total of 578 workers who took part in the process.
  Keywords: economic stress; work related stress; absenteeism; innovation; innovative behavior; mental health.
  DOI: 10.1504/IJDIPE.2025.10067124
   
  
• Boylywood’s soft power and Thai public diplomacy  
  by Poowin Bunyavejchewin, Kornphanat Tungkeunkunt, Orawan Nugprachaya 
  Abstract: Thai Boys Love (BL) drama series, which feature love between cute boys and/or stylish young men, has enjoyed global popularity in recent years, causing the home-grown BL entertainment industry - Boylywood - to grow rapidly. Although Boylywood exhibited high potential as a source of Thailand's soft power, it was not until 2021 that the Foreign Ministry in Bangkok began to include Thai BL dramas as part of the country's public diplomacy content. This was preponderantly due to Boylywood's ability to function as a revenue generator. Regime legitimation and the establishment's de facto green light were also factors that furthered Thai BL drama's soft power. Despite the government's initially limited involvement, Boylywood has become the country's most lucrative source of soft power, at least economically. Moreover, Thai public diplomacy's openness can be a catalyst for the government to maximise the potential utility of Thai BL drama's soft power.
  Keywords: BL; Boylywood; public diplomacy; soft power; Thai BL; Thai Boys Love; Thai Boys Love series; Thai foreign policy; Thailand; Y series.
  DOI: 10.1504/IJDIPE.2025.10067125
   
  
• Job Polarization with Advent of Technology: A Changing Landscape of Employment explored through Bibliometric Analysis  
  by Manpreet Kaur, Dr. Parneet Kaur 
  Abstract: Employment trends have been changing over the decades A phenomenon in employment is observed recently which is termed job polarization Technology has been considered as the main reason for this phenomenon This study aims to trace the advancement of literature concerning job polarization from the year 1990 to 2023 A total of 175 research studies are extracted from the Scopus database After applying the inclusion criteria, 144 studies are considered for analysis through bibliometric and network visualization techniques The research work of 291 authors is considered to underline the most eminent authors, journals, countries, and organizations in this field of research The bibliometric maps, networks, and tables have been made and examined using bibliometric tools such as VOSviewer and Biblioshiny This study also uncovers the major themes that have been focussed on in the literature The future research areas that require the attention of researchers are also highlighted.
  Keywords: Systematic literature review; job polarization; vosviewer; biblioshiny; scopus; bibliometric coupling.
  DOI: 10.1504/IJDIPE.2024.10067476
   
  
• Open-Source Intelligence (OSINT) and International Humanitarian Law: Exploring the Scope and Limitations of Civilian Participation in the Russia-Ukraine War  
  by Ila Joshi 
  Abstract: Since the inception of four Geneva Conventions and inclusion of Additional Protocols the wars have seen tremendous change in its nature and the participants. The seamless adoption of technology in war has forced the academia to reinterpret or re-evaluate the war and its laws. Also, the overwhelming presence of virtual spaces have given people across the globe access to the real time happenings of the wars, thus shaping their perceptions and actions. The use of OSINT in the form of publicly available information on any platform has proved to be one of the most used and successful tools of intelligence since ever. Whether it was the use of Foreign Broadcast Intelligence Service during the Second World War or the use of Telegram, VK and other platforms by the Ukrainian citizens to upload the movement of the Russian troops in the ongoing war, the publicly available information has reshaped the nature of war. The free flow of information has ushered in an era of information warfare, where the information is flowing both from formal as well as informal channels.
  Keywords: Open-Source Intelligence (OSINT); International Humanitarian Law; civilians; combatants; non-combatants; Russia- Ukraine war; Geneva Convention; Additional Protocols.
  DOI: 10.1504/IJDIPE.2024.10067477
   
  
• THE INFLUENCE OF SLOVENIAN ECONOMIC DIPLOMACY AND COMPANIES ON CHANGING ENVIRONMENTAL VALUES IN NORTH MACEDONIA  
  by BREDA MULEC 
  Abstract: Despite some progress, countries still face challenges when it comes to environmental protection. The paper relies on existing academic research and a structured interview conducted with diplomats from the Ministry of Foreign and European Affairs of the Republic of Slovenia, as well as representatives from Slovenian companies, to analyse the potential influence that companies and economic diplomacy from more developed countries with high environmental protection standards have on changing attitudes towards the environment in countries with lower standards. We focused our attention on Slovenian companies operating abroad in order to determine whether Slovenian companies in North Macedonia apply higher environmental protection standards than required by the regulations in the host country. Despite its efforts to join the EU, North Macedonia faces a spate of environmental protection challenges, including high levels of air pollution that place it among the worst affected countries.
  Keywords: economic diplomacy; corporate social responsibility; environmental protection; environmental standards; North Macedonia; Slovenia; pollution havens; public administration.
  DOI: 10.1504/IJDIPE.2024.10067478
   
  
• New ways in tourism: Factors influencing the domestic travel decision of generation Z and the correlations of gamification  
  by Diána Pacsi, Csaba Bálint Illés, Habil. Árpád Papp-Váry, Habil. Zoltán Szabó, Ragif Huseynov, Nidhi Shukla, Aamir Syed, Ramiz Isgandarov 
  Abstract: Tourism, just like other industries, has to face the challenges of digitalization. Changes in consumer needs and growing environmental and economic challenges are forcing tourism providers to take new paths. As the world opened up, international tourism became accessible to those with lower incomes, and increasing the motivation of tourists in domestic tourism became crucial from a national economic point of view. One of the tools for this can be the gamification methodology. In this study, we examine the motivations of generation Z travelers. In the course of the research, we examined the travel decisions of Generation Z and the correlations between the HEXAD player dimensions in relation to Hungarian domestic tourism in a questionnaire survey conducted with 234 people. (Marczewski, 2015)
  Keywords: Generation Z; gamification; HEXAD player types; domestic travel.
  DOI: 10.1504/IJDIPE.2025.10068098
   
  
• Democracy and the fiscal decentralization - government size nexus in Iran  
  by Mohammad Meysam Rafiee, Mahboobeh Farahati 
  Abstract: This study investigates the role of democracy in the relationship between fiscal decentralization and government size in Iran using data from 1981 to 2021. The results of the cointegration analysis based on the autoregressive distributed lag (ARDL) approach show that in the long run, fiscal decentralization has a negative and statistically significant effect on government size. Additionally, the interaction effect between democracy and fiscal decentralization is negative and statistically significant, suggesting that the impact of fiscal decentralization on government size depends on the level of democracy in such a way that the negative effect of financial decentralization on the size of the government increases with the increase of democracy. In other words, the higher the level of democracy, the greater the reduction in government size resulting from a one-unit increase in fiscal decentralization.
  Keywords: Government Size; Democracy; Fiscal Decentralization; Iran.
  DOI: 10.1504/IJDIPE.2025.10068099
   
  
• The role of state-owned banks in the 2008 Slovenian banking crisis  
  by Vilma Hanžel Kratochwill  
  Abstract: The financial crisis of 2007/2008 severely impacted banks in many countries and governments imposed various measures to stabilise the banking sector, including bank recapitalisation by the state and bank nationalisation. This instigated a review of the role of state-owned banks on the local banking market and whether they can be the factor of stability. In Slovenia before 2008 state owned banks dominated the banking market. They significantly contributed to the emergence and cost of the crisis, as their corporate governance was poor, they assumed the highest risks and sustained the largest losses as well as the highest share of non-performing loans in 2013. Findings that state ownership in banks is not desirable are consistent with the experience in Germany and Spain in the same period where state-owned banks were also at the centre of the crisis, as well as literature on state ownership of banks.
  Keywords: Slovenian banking crisis 2008; state-owned banks; corporate governance; non-performing loans; cost of the crisis; financial stability; capital adequacy; liquidity.
  DOI: 10.1504/IJDIPE.2025.10068100
   
  
• The Strategic Role of Non-governmental Organizations in International Economic Relations  
  by Martin Dekleva 
  Abstract: The emergence of multi-dimensional non-governmental organizations is reflected differently in various aspects of social life. This also applies to the field of international economic relations. The impact of civil society on the economy at the international level cannot be overlooked. Non-governmental organizations are in general socially beneficial and they can contribute to some extent to the democratization of international institutions and also to the policy formulation and decision-making at the international level. However, this influence has also some shortcomings and opens several important dilemmas. The article discusses the strategic role of non-governmental organizations in economic relations between states from the point of view of two basic elements: policy making and implementation and legal procedures. The author concludes that different interests can be reconciled through legally framed and transparent activities between non-governmental organizations, states and non-state actors.
  Keywords: non-governmental organizations; international relations; international economic relations; economic diplomacy; policy making; court proceedings; alternative dispute resolution; investment disputes.
  DOI: 10.1504/IJDIPE.2025.10068101
   
  
• Arbitrage Opportunities in Exchange Traded Funds: Evidence from Nippon Life India Asset Management Limited  
  by MONIKA DAHIYA, D.P. Warne 
  Abstract: This study examines the pricing efficiency of 7 equity Exchange Traded Funds (ETFs) of the Nippon Life India Asset Management Limited listed on NSE. This research spans five years, from April 1, 2017 to March 31, 2022. The study focuses on the endurance of premium or discount that results from the deviation between the NAV and closing price of ETFs. The results of the t-test show that there is a significant association between the mean of Premium and Discount. Further, the results of regression analysis show that there are arbitrage opportunities that prevail in the market for which a maximum of 4 days and a minimum of 2 days are required to disappear these price deviations between NAV and closing price series.
  Keywords: ETFs; Arbitrage opportunities; Premium; Discount; NAV; Benchmark Index; Pricing Efficiency.
  DOI: 10.1504/IJDIPE.2025.10068293
   
  
• A Game Theory for Peace or Conflict and Peace Equilibrium in South Asia: A Diplomatic Decision of Guns V/s Butter  
  by PRASHANT VADIKAR, Hardik BHADESHIYA 
  Abstract: This study analyses an arms race in South Asia with the help of the VAR-VECM model. A big nation’s enormous spending on defence distorts the pattern of public expenditure in small countries and generates a ripple effect in a particular geography. Some evidence indicates the short-term and long-term presence of the arms race in South Asia. In the short run, Indian defence spending has a uni-lateral causality with Pakistan’s defence spending and a bilateral cause with China's defence spending. In the long run, Indian defence spending has a time break from both nations’ defence spending, which is incorporated in the model with a dummy variable and has a significant result. The study discusses the trade-off between peace and conflict, which may help notions to find a peace equilibrium, which may generate long-term peace and prosperity in South Asia with a balancing approach.
  Keywords: Arms Race; Peace; National Security; National Budget; Growth; India; China; Pakistan.
  DOI: 10.1504/IJDIPE.2025.10068685
   
  
• Impact and Challenges of Sustainable Entrepreneurship on Businesses: A Reflection of Bibliometric Database with the help of Prisma Model & R-Studio  
  by Gurpreet Kaur, Cherna Fatma 
  Abstract: The interconnectedness of the economies, advancement in technology, competitiveness and adaptability has created the opportunities as well as challenges for the survival and sustainable development of enterprises in the era of globalization This research work is an effort to investigates the impact and challenges of sustainable entrepreneurship on businesses on the basis of bibliographic database. Focusing on the specified research questions, and utilizing the important academic databases related with database, around 76 studies from Scopus and 37 from Web of Sciences are identified in a defined time frame (2015-2023) and out of which 54 studies from Scopus and 19 studies from Web of Sciences are screened for the study by excluding some studies due to duplicity, articles not fulfilling the objectives and similarity between both the sources of database. The use of PRISMA model for ensuring the transparency, replicability and minimizes bias during the review process.
  Keywords: Keywords: Sustainable Entrepreneurship. Innovation; PRISMA; R-studio.
  DOI: 10.1504/IJDIPE.2025.10068686
   
  
• Resilience and Diversification Potential of Logistics Stocks in the Indian Market: A Pre- and Post-COVID-19 Analysis  
  by Sudhi Sharma, Parul Bhatia, Reepu NA, Aditi Gupta, Vaibhav Aggarwal 
  Abstract: This study aims to fill the literature gap by examining the diversification opportunities and resilience. The study included selected logistics stocks in the Indian market during the pre- and post-COVID-19 era. The study explores diversification opportunities through the application of the Time-Varying Parameter Vector Auto regression. For the robustness of the analysis, the study further applied wavelet coherence. Network analysis has been conducted to gauge the most promising stocks to assess resilience and potential for diversification. The results of the study capture one of the logistics stocks i.e. Lancer demonstrates resilience to external shocks and has the least impact on the volatilities of other asset classes. The results of wavelet coherence, VRL Logistics, and TCI Express exhibit evidence of diversification, particularly in the post-outbreak period. The findings of the study provide valuable insights for stakeholders seeking to strategically select logistics stocks for their portfolios. The study is also well aligned with UNSDG 11 by providing resilient and sustainable logistics stocks for portfolio managers.
  Keywords: Logistics; Time-Varying Parameter Vector Auto regression; Network Analysis; Diversification; COVID-19; UNSDG11.
  DOI: 10.1504/IJDIPE.2025.10068829
   
  
• Bibliometric and Science Mapping Analysis of the studies concomitant to Determinants of International Trade  
  by Priti Sharma, Karambir Gulia, Shivani Gupta 
  Abstract: Research Problem/Objective: The aim of the study is to conduct bibliometric performance analysis and science mapping analysis pertaining to the empirical studies conducted so far in context of the determinants of international trade. Data & Methodology: Data for the purpose is collected from Scopus database and the same has been analysed using R software with biblioshiny. Bibliometric performance analysis includes: year-wise production of publication and their citations, most productive authors, most significant publications, most significant affiliations and most productive countries while science mapping includes: keywords analysis, Three folds, co-citation and collaboration analysis. Findings: Egger P., Liu Y., and Pinilla V. are the most relevant authors with three h index. “World Economy” is the most relevant journal with 7 h index followed by “Empirical Economics”, “Journal of Cleaner Production”, “Journal of International Economics”, and “University of Benin” and “University of California” the most significant affiliation as each has produced 6 articles in the field, United States of America is the most significant country as it has produced 148 articles till date.
  Keywords: International; Trade; Scopus; Science Mapping; Bibliometric.
  DOI: 10.1504/IJDIPE.2025.10069315
   
  
• THE STABILITY TIGHTROPE: BALANCING POLITICAL AND ECONOMIC FACTORS FOR TOURISM BUSINESS DEVELOPMENT IN THAILAND  
  by Vito Bobek, Kevin Steigenberger, Tatjana Horvat 
  Abstract: The paper examines the political and economic stability interplay in Thailand's tourism sector and its businesses Combining theory and interviews, it explores how stability factors affect tourism, prompting strategic responses from enterprises Findings suggest political stability is critical, especially for international visitors, as unrest disrupts travel Economic stability in Thailand and tourist source countries also influences travel behavior A weaker Thai baht, potentially hinting at economic challenges, can attract visitors by lowering travel costs Enterprises mitigate these risks through cost-saving measures, market diversification, and enhanced marketing strategies The importance of sustainability and digital transformation for competitiveness is also highlighted Despite past and present instability, Thailand's tourism industry demonstrates resilience and a strong likelihood of continued growth This resilience is attributed to strategic government support and Thailand's enduring appeal as a tourist destination The paper concludes by emphasizing the need for flexible policies and solid legislative frameworks to ensure continued growth.
  Keywords: Political stability; economic stability; tourism; Thailand; crisis management; tourism enterprises; tourism resilience.
  DOI: 10.1504/IJDIPE.2025.10069316
   
  
• The Role of Economic Diplomacy in Upgrading Emerging Countries' Position in Global Value Chains in a Post-Crisis World: Evidence from the Moroccan automotive industry  
  by Hanane Zerwal 
  Abstract: This paper utilizes a qualitative approach to understand how the deployment of economic diplomatic tools can serve emerging markets in upgrading their position in global value chains (GVCs), specifically in the post COVID-19 pandemic period. The main findings of the present research highlight that the Moroccan economic diplomacy has taken actions to support the recovery of its automotive industry, increase its integration into GVCs, and maintain its competitiveness on the global market. These actions included promoting the country’s partnerships with different states through agreements covering various sectors, signing accords with foreign investors, and continuously advertising the Kingdom as a prime automotive production location, to benefit from the redefinition of the world automotive industry’s GVCs. Consequently, the Moroccan automotive industry embarked on a recovery journey shortly after the beginning of the pandemic, resumed its growth in 2021, and began a smooth shift towards the production of more sustainable cars.
  Keywords: Morocco; economic diplomacy; emerging countries; GVCs; global value chains; automotive industry; Moroccan diplomacy; COVID-19; GVCs upgrading; automotive sector; economic recovery.
  DOI: 10.1504/IJDIPE.2025.10069317
   
  
• Bridging Economies, Breaking Barriers: A Comparative Odyssey of Commercial Diplomacy in EU and EAC.  
  by Ibrahim Suleiman, Maxwell Muthini Kyalo 
  Abstract: This article focuses on the complex dynamics of commercial diplomacy in both the European Union (EU) and the East African Community (EAC). The modern international trade environment, characterized by high interconnectivity, economic integration, and diplomatic complexity, demands a clear understanding of national strategies for survival. The main goal of this article is to describe the commercial diplomacy approach pursued by both EU and EAC, clarifying their economic structures specificity as well as regional aspects and diplomatic strategies. Using a comparative case study design, the article scrutinizes 27 EU states and six EAC Member States by reviewing their commercial diplomacy strategies through surveys, official websites and authoritative government reports. The article covers the historical changes in commercial diplomacy, discusses important theoretical approaches and analyses the EU’s and EAC’s modern-day strategies. The prominent results include the EU’s manifold approach reflected in the Comprehensive Economic and Trade Agreement (CETA) with Canada and its policy toward the Association of Southeast Asian Nations (ASEAN).
  Keywords: Commercial Diplomacy; Regional Collaboration; European Union (EU); East African Community (EAC); Economic Integration; Diplomatic Methodologies.
  DOI: 10.1504/IJDIPE.2025.10069318
   
  
• Diplomacy and Psychology: Supporting the Exercise of Diplomatic Functions  
  by Mirjana Delic, Milan Jazbec 
  Abstract: This paper aims to examine correlation between diplomacy and psychology as two separate, independent scientific fields that have much in common. Diplomacy deals with management of relations between states, and other actors, carried out by diplomats, while psychology primarily studies individuals, their behaviour and tries to understand how mind and emotions influence this. There is much synergy between the two disciplines in the time of intensive globalization when diplomacy entered its postmodern phase and is witnessing increased interdisciplinary research attention. We try to explore what diplomacy can gain from psychology to be more efficient in pursuing its mission that rests on implementation of diplomatic functions. We engage psychological categories of empathy as well as social and emotional intelligence. Diplomats have to possess deep understanding of the interlocutor’s state of mind, emotions and other elements that determine behaviour in the international arena.
  Keywords: diplomacy; psychology; empathy; social intelligence; emotional intelligence; diplomatic functions.
  DOI: 10.1504/IJDIPE.2025.10069889