Measuring the economic performance of transition economies: DEA-bootstrapping approach

PurposeThe paper analyzes the relative technical efficiency of the transition economies of the Western Balkans in the period 2007-2021, in comparison with the former countries with a socialist state system, today members of the European Union (EU), based on selected macroeconomic indicators and panel data.Design/methodology/approachData envelopment analysis (DEA), i.e. its extension, DEA Window analysis, is applied. Total technical efficiency, as a prerequisite of economic efficiency, is decomposed into pure technical efficiency (PTE) and scale efficiency (SE). Bootstrapping method and Mann-Whitney U test were used to check the robustness of the obtained results, i.e. efficiency values.FindingsThe results show that in 2020, all observed countries recorded a significant drop in economic efficiency as a result of a general, disproportionate drop in the value of selected macroeconomic variables, which occurred due to the global economic crisis and the slowdown in economic activity caused by the COVID-19 pandemic. This drop in efficiency was significantly greater in the former socialist states, now members of the European Union, which showed their greater sensitivity to global crises. None of the observed economies in the observed period was relatively efficient, that is, at the level of best practice, which occurred primarily as a consequence of the inefficiency of business conditions expressed in the economies of scale.Research limitations/implicationsThe main limitation of this study stems from the very nature of the concept of DEA efficiency, which is relative in nature. Also, the results and their interpretation are also significantly influenced by the choice of model variables, as shown by Labaj et al. (2013), as well as a small number of decision-making units (DMUs). The mentioned limitations prevent unambiguous interpretation and generalization of the obtained results.Practical implicationsThe study may be of importance to economic policy makers in macroeconomic decision-making. The application of the DEA concept in measuring the technical efficiency of national economies is a useful tool in the analysis of macroeconomic performance and a benchmarking approach for positioning and achieving competitive advantage on the international market.Originality/valueSince research of this type is very limited, the results of this study make a theoretical and empirical contribution to the literature, creating a basis for future research and reexamination. The application of the DEA concept in measuring the technical efficiency of national economies is a useful tool in the analysis of macroeconomic performance and a benchmarking approach for positioning and achieving competitive advantage in the international market.

Ups and Downs of Business Activity in the Waves of Crises, the Coronavirus Pandemic and Unprecedented Western Sanctions

Subject of article - the dynamics of the integrated Business Activity Index of the Institute of Economics of the Russian Academy of Sciences in 10 main areas of the national economy and the Index of output of goods and services by basic types of economic activity of Rosstat (Rosstat Index) from 2018 to July 2022 inclusive. Growth factors and a list of key macro indicators that determine the level of business activity in the relevant sectors of the economy, as well as the results of calculating the weights of these sectors, are considered. The aim of the article is to substantiate the advantages of the methodology for constructing the IE RAS Index, which includes development indicators of 10 areas of the national economy, in comparison with the Rosstat Index. Theoretical studies are based on practical calculations performed on the basis of official statistical reporting, and a comparative analysis of the results with the dynamics of the Rosstat Index. Research period: post-crisis 2018-2019, pandemic and post-pandemic 2020-2021 and initial stage of the mobilization period for the economy- January-July 2022. To calculate the IE RAS Index, the method of construction of integral estimates of macroeconomic dynamics, correlation analysis, as well as a matrix of coefficients of pair correlation for determination of index weights are used, which is a convincing justification of scientific novelty of the proposed methodology of construction and practical use of the IE RAS Index. Based on a comparative analysis of the dynamics of the indices, it was found that the maximum drop in the IE RAS Index and the Rosstat Index was observed in 2020, and the maximum growth was observed in the post-pandemic 2021. Moreover, according to the IE RAS methodology, larger parameters and earlier dates for the start of decline and growth of business activity in comparison with the Rosstat Index were recorded. As a result, new convincing evidence of the advantages of the IE RAS Index was obtained, the main of which is a more reliable and accurate determination of the critical moments of a change in the business activity trend and, accordingly, the timing of the onset and overcoming of crisis processes in socio-economic development. The authors conclude that, in the new geopolitical reality, it is necessary to include the IE RAS Index as a target indicator for the country's ability to secure state sovereignty. © Frenkel A. A., Tikhomirov B. I., Surkov A. A., 2023 .

Analysis of the Features of Sustainable Development of the Mercosur Countries in the Context of the Covid-19 Pandemic

Purpose: The purpose of this article is to identify the features of sustainable development of the MERCOSUR countries in the context of the COVID-19 pandemic. Design/methodology/approach: The authors use comparative and retrospective analysis to identify the distinguishing characteristics of countries meeting the sustainable development goals. The objects of research are the MERCOSUR countries. Findings: It has been established that Uruguay is the undisputed leader in sustainable development in the context of COVID-19. Two countries: Brazil and Venezuela slowed down the pace of implementation of national sustainable development strategies due to the pandemic and other reasons. Originality/value: According to the results of the analysis, it was revealed that countries that have long-term national strategies for sustainable development are more stable in achieving sustainable development goals. The size of a national economy does not guarantee that it can successfully overcome an external shock such as the lockdown caused by the COVID-19 pandemic. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Effects of the pandemic on tourism and the Chilean economy, a look from multivariate techniques

The impact of the Covid-19 pandemic has brought dire consequences. The paralysis of a large part of the tourism sector since April 2020 has strongly affected the economy and employment worldwide, leaving without a livelihood a number of people who live and depend on the tourism company. In this context, the present research aims to analyze the effect of the pandemic on tourism in Chile. It is methodologically based on two aspects, first, on the documentary review of different sources that critically analyze the consequences of this health crisis on the economy and tourism, and secondly, on the data processing carried out through the application of the HJ Biplot Multivariate Cubes Model. As the main results of this research, it is evident that the pandemic has caused a decrease in employment and sales in Accommodation Services and Food Services, as well as the arrivals of passengers at Tourist Activity Establishments. It is projected that this study could be a contribution in the construction of public policies that support the reactivation of the national and world economy through tourism. © 2023, Universidade de Aveiro. All rights reserved.

The Contribution of the Tourism Sector to the Regional Spatial Economy During the COVID-19 Pandemic

The COVID-19 pandemic is causing significant global changes, and one of the most affected sectors is the tourism industry. Therefore, this study aimed at determining the impacts of the pandemic on tourism by comparing the spatial economic classification before and during the pandemic using four analyses, namely the regional Klassen Typology, sector approach, the Location Quotient (LQ), and Shift-Share Analysis. The processed information is secondary data from the Central Statistical Agency of Karo Regency and North Sumatra Province, Indonesia. This area is one of the mainstay areas of the national economy and part of the Lake Toba Super Priority Destination. The obtained results showed that the tourism sector was classified among the fast-growing and uncompetitive sectors before the pandemic. However, during the crisis, it became a slow-growing and competitive sector. © 2022 WITPress. All rights reserved.

Quantification of Economic, Ecological and Social Impacts of Climate Change in the EU

The article focuses on the current, urgent, and much discussed global issue of climate change, the impacts of which are expansive and involve a wide range of expertise. The base forms the evaluation of a sample of European Union member states using the quantification of threats and intensity of two key factors. The main objective of this article is to evaluate EU countries the INFORM assessment tool and to highlight the link between the effects of climate change (environmental, social, and economical) as quantified by respective threats posed by emission volume and poverty. In the present research, we relied on the new INFORM Risk Index assessment indicator because it represents a completely new but also globally applicable, reliable, and transparent tool to understand the risk of humanitarian crises and disasters. The significant results of the performed quantitative analysis suggest that security risk, poverty, and pollution levels operate as closely linked areas. It can be expected that recent changes (the COVID-19 pandemic, state of war) will mean that these influences will increase in severity. © 2022, Bucharest University of Economic Studies. All rights reserved.

Influence of health-conscious consumer behaviour on consumer ethnocentrism during the COVID-19 pandemic

The aim of the article is fourfold: (1) to identify the level of health consciousness during the pandemic in Slovakia and Croatia, and to point out the possible influence of selected demographic factors on this rate, (2) to identify the degree of consumer ethnocentrism during the pandemic in Slovakia and Croatia and to examine the impact of selected demographic factors to this extent, (3) to examine the link between health consciousness as a factor affecting consumer ethnocentrism and (4) to identify differences in the studied variables of Croatia and Slovakia. The article is supported by a primary survey based on 459 respondents in Croatia and 429 respondents in Slovakia. Whilst referring to our aims, we formulated research questions and hypotheses, in order to answer and verify them we chose ANOVA test and regression analysis. The results point to a high level of respondents' health awareness and an average (in the case of Slovakia) and above-average (in the case of Croatia) rate of consumer ethnocentrism. The results indicate a low relationship between the variables examined. Results can be applied both in theory and in practice in various fields. © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

FINANCIAL PLATFORMS AS ALTERNATIVE FINANCIAL INSTRUMENT TO CREDITING IN EUROPE

The significance of financial technologies constantly grows as they have become a part of national economies. Sharing economy or alternative financing includes various digital financial activities outside the traditional banking system like crowdfunding, peer-to-peer lending and other alternatives. The research aim is to evaluate alternative finance trends in Europe. The research results show that peer-to-peer platforms mainly ensuring a high return rate have recently become very popular allowing to invest resources in various projects including real estate, loans, invoice trading and businesses. The main significant drawback of these platforms is that they are risky. The alternative finance market volumes continue to increase steadily year by year reaching USD 22.60 billion in 2020 and the United Kingdom has the largest market share of 59.35% (USD 12.6 billion) in 2020. At the beginning of 2022, there are 315 alternative finance platforms in Europe, the largest number of alternative finance platforms operate in the UK, and peer-to-peer lending (both consumer and business) and invoice trading are three the most widespread types of alternative finance in Europe covering 68% of the entire market size. The rest types of alternative finance occupy considerably lower market shares, i.e. 3-7% each. The decrease in P2P lending volumes in 2020 might be directly related with the Covid pandemic and change in consumer priorities;though, the dynamics of P2P business lending shows a constant moderate increase in the lending volumes. © 2022, Latvia University of Life Sciences and Technologies. All Rights Reserved.

Challenges for Morocco's Economy after Covid-19, between Necessary Reforms and Maintaining Political Stability

Morocco has implemented various economic policies during the last decades. If the level of growth and the modernization seems relevant, the social programs were not efficient against poverty. During and now after the pandemic, an acceleration of the reforms seems to be considered by the authorities. This paper will analyze what was done and what the main challenges are for this country. © 2022 Geo Publishing, Toronto Canada.

Epidemic Data Analysis Based on Data Visualization Technology

The outbreak of COVID-19 at the end of 2019 has had a heavy impact on countries around the world, and its rapid spread has posed a huge challenge to the prevention and control work of all countries. Through data visualization technology, this paper comprehensively analyzes the epidemic data in China from multiple levels, including comparison analysis based on time span and comparison analysis based on countries. At the same time, this paper also analyzes the significant impact of the epidemic on China's national economy from the macro and micro levels. Finally, the linear regression model is used to predict the GDP data during the epidemic period, and the comparison between the real and predicted GDP data during the epidemic period is made. It was found that the epidemic had a great impact on China's national economy in the early stage, but the impact gradually weakened as time went by. Epidemic data analysis based on data visualization technology can provide powerful data support for epidemic prevention and control. © 2022 IEEE.

Impacts of COVID-19 on the construction sector in the least developed countries

Purpose: Global construction has been affected by COVID-19 unprecedently. The construction sectors in the least developed countries are considered as vulnerable, but the covid made the countries experience the worst situation ever. To minimize the losses by effective measures, there needs to assess the COVID-19 impacts on the construction sector. So, the aim of this study is to investigate the most critical impacts of COVID-19 on construction in the least developed countries by considering the case study of Bangladesh. Design/methodology/approach: The authors adopted multistep research methods, including (1) literature analysis and discussion with experts to establish a comprehensive list of COVID-19 impacts;(2) through a questionnaire survey, data were collected from 217 construction professionals by email, Google Form and Skype for quantifying the significance of covid impacts;(3) reliability of the survey checked by the Cronbach Alpha test;(4) Relative Importance Index (RII) to determine the ranks of the impacts based on their significance;(5) Interpretive Structural Model (ISM) to explore the corelations and the hierarchical structure;and (6) cross-impact matrix multiplication applied to classification (MICMAC) analysis to classify the COVID-19 impacts. Findings: The study identified a total of 18 COVID-19 impacts on the construction sector. Among them, the job cuts, schedule delays, project suspension, cost overrun and effects on mental health are more influential and significant than others. Further, this study found that unpaid leave and job cuts are the two most fundamental impacts which influence other succeeding significant impacts. And ultimately all the impacts lead to hampering the national economy and development. Finally, MICMAC analysis suggested that unpaid leave and job cuts should be addressed first to resolve and effects on the national economy and development should be later. Research limitations/implications: This study does not consider all the COVID-19 impacts due to the relevant context and simplicity of the ISM method. Also, the respondent's attitude might be slightly different during the post-mass vaccination period. Practical implications: This study will help the company's management, employees and government to develop effective strategies to understand the insight of their interrelations and ultimately overcome the identified covid effects. This will must contribute to the industry, its employees, the government and society by ensuring the national economy and development, construction operations, investment, employment and social security. Originality/value: This study will contribute to the knowledge body (practitioners and researchers) by providing the list of significant covid impacts and insight into their interrelations for further deep analysis of the pandemic effects. This will also help the authorities and stakeholders in developing policies and strategies to minimize or avoid these effects and avoid future consequences due to any pandemic like covid. © 2022, Emerald Publishing Limited.

Historical features of the development of information resources of the Republic of Uzbekistan (on the example of 2000-2019)

The article discusses the introduction of digital technologies in the context of the COVID-19 pandemic, which has become one of the most pressing issues of today. In this regard, the analysis of specific aspects of the history of the development of scientific and technical information resources in the world, including mechanisms for their improvement, legal framework, current trends and problems.

The National Window for Trade and its Impact on the National Economy: Jordan Customs Field Research

The National Window for Trade is an integrated national computerized system for all governmental procedures involving commercial items entering or transiting through the Kingdom. This study examines the National Window for Trade and its Impact on the National Economy in light of the Corona pandemic Jordan Customs Field Research. The population of this study consisted of all the employees in the national window for trade at the Jordanian Custom. Findings revealed a statistically significant impact of the National Window for Trade (improving the working climate, goods clearance from the first border point, and lowering government and customs procedures) on the national economy in light of the Corona pandemic. © 2022 NSP Natural Sciences Publishing Cor.

POTENTIAL SCENARIOS FOR OVERCOMING THE COVID-19 CRISIS IN FOOD SUPPLY CHAINS IN LATVIA

The Covid-19 pandemic has produced another era on the planet while we sort out the outcomes in various parts of our everyday life. The food sector and food supply chain do not incorporate an exception. In Latvia, the agricultural and food sector is important for the national economy;therefore, it is important that production, processing, logistics, supply and trade disruptions are successfully overcome during the pandemic and the food sector develops rapidly after the crisis and is more resilient in the future. Therefore, the aim of the present research is to examine potential scenarios for overcoming the crisis in food supply chains with the aim of promoting sectoral development and resilience after Covid-19 crisis in Latvia. The research identified two key drivers of food supply chains during the crisis and post-crisis period: 1) market demand for a particular product;2) capability to ensure the production process is uninterrupted, with the availability and sufficiency of individuals/employees at all stages of the food supply chain. Any case of Covid-19 in a company could lead to production interruptions, thereby causing losses to the company and affecting the market situation. The research developed four scenarios for food supply chains for the crisis and post-crisis period, gave descriptions of the scenarios for key food sector segments and found that the scenarios and the resilience of the food sector during the post-crisis period were determined by the duration of the crisis. © 2021 International Multidisciplinary Scientific Geoconference. All rights reserved.

POLICY MEASURES FOR ECONOMIC RESILIENCE OF VISEGRAD GROUP AND UKRAINE DURING THE PANDEMIC

The COVID-19 pandemic has posed unprecedented healthcare and economic resilience challenges for the world. This study systematizes the policy measures taken by the Visegrad Group and Ukraine to support national economies in response to the pandemic. The paper is based on a grouping method to systematize the policy measures, and a tabular method to present the results of the policy measures classification. Following systematization results, the policy measures for ensuring the economic resilience under the pandemic are classified as quarantine and compensatory measures. Additionally, quarantine measures were classified into prohibitions, restrictions, and recommendations. Compensatory measures were classified by the type of policy and grouped according to the global dimension in periodization of the COVID-19 waves. The analysis of quarantine measures in Ukraine and Visegrad Group also shows that prohibitions had been used most frequently and for the longest time in Ukraine, particularly they included school closures, public transport closing, and restrictions on internal movement. Meanwhile, fiscal, macroprudential, and microprudential measures prevailed among the compensatory measures. Simultaneously, 38% of all fiscal measures were direct grants to households and enterprises. The largest number of various measures (78) were implemented in Poland, linking quarantine and compensatory measures. The least compensatory measures were implemented in Ukraine (19) and Slovakia (15). Overall, policy measures helped to avoid a worse scenario of pandemic impact but did not help to overcome the effects of the pandemic fully. © 2022 The author(s).

FORMATION OF INFORMATION SOCIETY AND ITS INFLUENCE ON COMPETITIVENESS OF NATIONAL ECONOMIES IN THE CONTEXT OFWORLD ECONOMY GLOBALIZATION

The case of ICT development in the world and in Uzbekistan, the effects of COVID-19 pandemic on the world economy, digital transformation and the degree of the competitiveness of national economy in the world market are studied. The main indicators of world and Uzbek ICT market are discussed. A multifactorial model is created to forecast the volume of communication and information services of Uzbekistan. A forecast for 2021-2025 is constructed and conclusions and recommendations for improving ICT in the economy are provided. © 2021 ACM.

Study on Relationship between Reopening Time and Per Price and Number of Comments Based on Regression Analysis and Adjustment Effect Test

Since the outbreak of COVID-19, it has had a direct and profound impact on social production and people's lives. The national economy has even stopped for a while, and the catering industry is one of the most obvious industries. This paper collects the store information and comments of the public comment platform from December 2019 to September 2020. In terms of comments, word vector is constructed by word 2vec algorithm, and the thesaurus of epidemic prevention measures is obtained by cluster analysis;In terms of data, in addition to obtaining the detailed page information of public comments, the time period for all catering stores to close down and the time interval for store reopening shall be determined according to the monthly comments. Finally, the mechanism of the number of online reviews, per price and epidemic prevention measures affecting the reopening time is discussed by using regression equation analysis. The results show that the number of online reviews represents that the stores have a certain anti risk ability to a certain extent, so that catering enterprises can resume business quickly;The higher price positioning of stores can meet the safety psychology of consumers during the epidemic. © 2021 IEEE.

Research on the Throughput Prediction of Coastal Ports in China

Coastal ports play a pivotal role in ensuring the healthy development of China's national economy and society and the smooth flow of global supply chain. The novel coronavirus pneumonia epidemic is impacting the global supply chain system. In this context, China's coastal port throughput prediction has become the focus of attention. Therefore, it is necessary to establish a model to accurately predict the throughput of coastal ports in China. This paper constructs the economy-industry bi-directional prediction model. It also provides a possibility for forecasting the throughput of China's coastal ports during the 14th Five-Year Plan period. On the one hand, build a model to measure the relationship between economic growth and coastal port throughput growth. On the other hand, the model is constructed to measure the correlation between major goods such as coal, iron ore and crude oil. Thus, another result of coastal port throughput is obtained. Given the corresponding weights of the two results, the final prediction results are obtained. It is concluded that on the basis of 2020, China's coastal port throughput will reach 10.7 billion tons by 2025, with an average annual increase of 2.5% during the 14th Five-Year Plan period. China's coastal port throughput growth rate will slow down. The scale of transportation demand should be fully demonstrated in the future port infrastructure construction. © 2021 IEEE.

Investment Technologies for Ensuring the Inclusive Growth of the National Economy

The study aims to devise methodical and practical recommendations on using investment technologies as a means to ensure the inclusive growth of the national economy. Based on the authors’ approach to the notion and the role of investment technologies for ensuring the inclusive growth of the national economy, we provide recommendations for implementing economic methods, approaches, and instruments at relevant stages of the investment process. At the stage of determining the goals and areas of investment, it is advisable to invest in physical and human capital, knowledge economy, housing construction, and export development. At the stage of garnering resources to invest in investment projects, it is important to pay attention to the government support of investment projects and public–private partnership. At the stage of the realization of investment projects, it is recommended to secure a weighted growth of trade protectionism. Under Industry 4.0, there are broad opportunities to form new assessment tools for investment technologies. Thus, we introduce the author’s methodology to assess investment technologies based on the matrix method using the digital technology of Big Data. © 2022, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

NEW INVESTMENT OPPORTUNITIES IN PHARMACEUTICAL INDUSTRY OF UKRAINE DUE TO THE SPREAD OF CORONAVIRUS DISEASE (COVID-19)

The subject of this article is the state of investment attractiveness of the pharmaceutical industry of Ukraine in connection with the spread of coronavirus disease COVID-19. Methodology. The study mainly used systemic and logical approaches. At the same time, the following scientific methods were used in the research process: 1) analysis - the risks and benefits of investing in the pharmaceutical industry in Ukraine are studied, in particular, the main factors that may affect its further development are identified;2) deduction - the general state of operation of the pharmaceutical industry and important details that form a general picture of the industry are indicated;3) induction - considerable attention has been paid to some important steps necessary for the further development of the pharmaceutical industry;4) generalization - common features of the processes occurring at the national and supranational level in the functioning of the pharmaceutical industry have been established;5) others. The aim of this article is to identify new opportunities, prospects and risks for investment in the pharmaceutical industry of Ukraine in connection with the spread of coronavirus disease COVID-19 (hereinafter COVID-19). The results of the study demonstrate the significant potential of the pharmaceutical industry in Ukraine for its further transformation: high employment in the industry, a large number of production facilities, compliance with international standards, etc. Conclusion. The pharmaceutical industry of Ukraine is one of the most profitable sectors of the national economy and has a leading position on the index of capital investment. Despite the economic crisis, the industry's focus on innovation is driving growth, particularly in the pharmaceutical market. 48% of pharmaceutical manufacturers pay special attention to the study of new technologies and equipment. For further development of the domestic pharmaceutical industry, Ukraine needs an effective strategy for implementing the stages of vaccine production on its territory due to the emergence of new diseases. Production of such vaccines will help support Ukraine's participation in competition in the promising segment of the global pharmaceutical market. In order to attract investment in the development of this area, the Ukrainian government needs to ensure the effective functioning of public authorities and, in particular, to ensure the predictability of the economic and political situation. Given the positive experience of foreign countries (USA, India and Kazakhstan) in cooperation in the format of public-private partnerships (hereinafter - PPP), the introduction and further use of this mechanism of cooperation in the pharmaceutical industry of Ukraine will have a positive impact on its investment attractiveness. Effective actions of the government of Ukraine, aimed at improving the welfare of citizens will serve as a guarantee of preventing the growth of counterfeit pharmaceutical products on the domestic market.