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1.
Ekonomski Vjesnik ; 35(1):165-176, 2022.
Article in English | ProQuest Central | ID: covidwho-1955656

ABSTRACT

Purpose: The aim of this research is to identify the most exposed business processes in the pandemic era and investigate how the COVID-19 pandemic affected these processes in the processing companies in Brod-Posavina County. Methodology: The questionnaire was sent electronically to the official e-mail addresses of 49 processing companies in Brod-Posavina County according to the FINA register. The questionnaire was filled in by 102 respondents from 35 processing companies. The survey included employees of companies with more than 3 years of work experience in the considered company who are employed in management, commercial, financial or technical positions. The study uses descriptive statistical analysis and multivariate factor analysis. Results: The most exposed business processes were selected. Based on respondent's perceptions, research results confirm the exposure of all mentioned business processes to the coronavirus pandemic. "Work organization" and "commercial and financial area" are recognized as the most exposed business process and business area significantly exposed to the risk of unsustainability in Brod-Posavina County processing companies, respectively. Conclusion: The research findings confirmed the hypotheses of the paper, which propose that the disruption caused by the coronavirus pandemic had an impact on all business processes in processing companies and there was a business area significantly exposed to the risk of unsustainability in the conditions of the coronavirus pandemic. The identified business process and business area may serve as a basis for comparison in similar future cases.

2.
International Economics and Economic Policy ; 19(2):239-243, 2022.
Article in English | ProQuest Central | ID: covidwho-1941904

ABSTRACT

On September 24th, 2021, the European Institute for International Economic Relations (EIIW/University of Wuppertal) hosted an international workshop in the context of marking the Institute’s 25th Anniversary;it had initially been hoped that postponing the workshop from the originally intended date in 2020 to 2021 would allow to have a normal in person conference, but COVID-19 dynamics continued to disrupt plans, and the workshop took place belatedly in an online format. Founded at the University of Potsdam, the Institute subsequently moved to the University of Wuppertal where, over many years, the EIIW team and guest researchers have contributed greatly to international economic analysis. This has included work for various International Organizations (e.g., the United Nations, International Monetary Fund) as well as research for governments (and public agencies) in the European Union — including the European Parliament and the European Commission — companies and non-governmental organizations (NGOs) across Europe. The Special Issue presented here provides an exemplary selection of the research in the Institute’s area of expertise. It places an analytical focus on International Economics, climate-policy-related research, International Organizations and economic policy analysis, including some of the first papers with analytical economic findings on the effects of the Russo-Ukrainian war. This special issue thus reflects key fields of International Economics and climate policy as well as research on key aspects of the war in the Ukraine.

3.
El Trimestre Económico ; 89(3):829-864, 2022.
Article in Spanish | ProQuest Central | ID: covidwho-1934815

ABSTRACT

La crisis sanitaria generada por la acelerada propagación en el planeta del virus sarsCoV2 -fuente de la enfermedad covid-19- ha tenido un impacto negativo inevitable en los sistemas de salud y, simultáneamente, en la dinámica de las economías global, regional y nacional. Los problemas estructurales de la economía mexicana y la estrechez del espacio fiscal no surgieron con la pandemia, se fueron configurando durante las últimas tres décadas mediante la implementación del modelo económico que privilegió las políticas orientadas al mercado y el retiro de la intervención del Estado en la economía, en busca de una supuesta eficiencia en la asignación de los recursos y los factores productivos. En este artículo se analiza el impacto de la covid-19 en la economía y la hacienda pública de México, desde una perspectiva que plantea la existencia previa de las debilidades estructurales de la economía, a fin de buscar mayor dinamismo de la producción, el ingreso, la inversión productiva, la generación de empleo y la productividad laboral. También se plantea que las crisis de salud y económica representan una oportunidad para impulsar un nuevo modelo económico que trascienda las políticas económicas de raíz neoliberal, mediante el diseño y la instrumentación de una política para la transformación y la diversificación productivas, el desarrollo industrial, la innovación, la ciencia y la tecnología. Se busca un nuevo modelo económico que vaya más allá de la pandemia para el desarrollo de capacidades productivas y tecnológicas en el que la política económica no sea un fin para la estabilidad macroeconómica, sino un medio para alcanzar el objetivo central de bienestar social de la población.Alternate :The health crisis generated by the accelerated spread on the planet of the sars-CoV2 virus - the source of the covid-19 disease-has had an inevitable negative impact on health systems and simultaneously on the dynamics of the global, regional, and national economies. The structural problems of the Mexican economy and the narrowness of the fiscal space did not arise with the pandemic, they were configured during the last three decades with the implementation of the economic model that privileged market-oriented policies and the withdrawal of state intervention in the economy., in search of a supposed efficiency in the allocation of resources and productive factors. This article analyzes the impact of the covid-19 disease on the economy and public finances of Mexico, within a perspective that raises the previous existence of structural weaknesses in the economy to generate greater dynamism in production, income, productive investment, job creation, and labor productivity. The health and economic crises represent an opportunity to promote a new economic model that transcends the policies of neoliberal roots, through the design and implementation of an economic policy for the transformation and diversification of production, industrial development, innovation, science, and technology. A new economic model that goes beyond the pandemic, for the development of productive and technological capacities in which economic policy is not an end for macroeconomic stability, but a means to achieve the central objective of social welfare of the population.

4.
Journal of Environmental Management & Tourism ; 13(4):1100-1112, 2022.
Article in English | ProQuest Central | ID: covidwho-1934683

ABSTRACT

The article discusses how the conditions and influence of the financial system, including the banking sector, on the development of tourism in the conditions of the crisis of the global economic system are changing. A modern analysis of the state of the banking sector, indicators of assets and liabilities of second-tier banks, and the share of tourism in the formation of GDP has been carried out. Assessment of the current state of the credit activity of commercial banks in Kazakhstan, economic and mathematical forecast of its further development, development of proposals to improve the efficiency of the bank's financial management and substantiation of merits. Recommendations are given to improve the financial efficiency of the bank's management activities and the main directions of stabilization measures. It is noted that investments are a tool for financial stabilization of the economy, play a huge role in solving strategic and tactical tasks at the strategic level. All this should lead to financial stabilization of the economy, reduction of inflation, unemployment and economic growth.

5.
Journal of Environmental Management & Tourism ; 13(4):1089-1099, 2022.
Article in English | ProQuest Central | ID: covidwho-1934682

ABSTRACT

In the BRICS region, international tourism is considered a significant contributor to employment, forex earnings, and gross domestic product. In this context, this study examined the impact of tourism on the growth of BRICS economies by employing PMG based ARDL panel data analysis technique over an augmented neo-classical growth model during a period from 1995 to 2019. The results support a positive impact of international tourism on the growth of BRICS nations when their levels of human development are controlled in the long run. So, this study adds another feather to the extant empirical evidence of the tourism-led growth hypothesis in the BRICS region. Therefore, the policies of tourism sector development/expansion can supplement in achieving an elevated real economic growth in BRICS economies.

6.
Journal of Environmental Management & Tourism ; 13(4):1059-1073, 2022.
Article in English | ProQuest Central | ID: covidwho-1934681

ABSTRACT

This article notes that the uncertainty of the consequences of the pandemic has shown the need for the development of domestic tourism, the creation of modern health resort and tourism services and improving the quality of tourism infrastructure by attracting investments for maintenance and provision of transport and the development of tourism products and services, the introduction of environmental protection measures. Using the given statistical data on the development of the tourism and hospitality industry of the Republic of Kazakhstan, the authors analyzed the influence of some factors influencing the development of the tourism industry. The indicators of the structure of the population's expenditures on paid services, the distribution of resident visitors by purpose of travel at places of accommodation for 2021, the number of visitors served at places of accommodation for tourists in general in Kazakhstan, the main indicators of financial and economic activities in the field of tourism for 2016-2021 are given, performance indicators of tourist infrastructure facilities for the analyzed period. Proposals are given for the transformation of the most significant tourist sites included in the Touristification Map of Kazakhstan into one tourist cluster with a unique dominant experimental structure with transfer to foreign tourism markets in the future.

7.
Strategic Direction ; 38(7):10-12, 2022.
Article in English | ProQuest Central | ID: covidwho-1932054

ABSTRACT

Purpose>This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approach>This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.Findings>Remaining competitive demands that firms adopt digitalized technologies to increase their capabilities. Adoption of e-commerce activities can significantly improve business performance and incorporation of artificial intelligence provides scope to further enhance the effect.Originality/value>The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

8.
International Journal of Emerging Markets ; 17(7):1635-1658, 2022.
Article in English | ProQuest Central | ID: covidwho-1932028

ABSTRACT

Purpose>The study aims to empirically examine the effect of bank liquidity creation on non-performing loans (NPLs) in the Middle East and North Africa (MENA) region.Design/methodology/approach>Berger and Bouwman's (2009) three-step methodology was employed to calculate the level of liquidity creation of a selected sample of 111 commercial banks in ten MENA countries from 2010–2017. Next, the two-step system generalized method of moments (GMM) estimator was used to investigate the linkage between bank liquidity creation and NPLs.Findings>The results demonstrated a significant negative effect of bank liquidity creation on NPLs in the short and long term, implying that liquidity creation through both on- and off-balance sheet activities decreases NPLs. These findings accord with the “economic-enhancing” view. Furthermore, regression analysis investigated whether this relationship remained similar for Islamic and conventional banks. The results showed that liquidity creation diminishes Islamic and conventional bank NPLs.Research limitations/implications>The empirical findings raise several significant policy implications. Bank liquidity creation may decrease rather than increase NPLs, although the process of liquidity creation is viewed as risky by rendering banks more illiquid. Therefore, policy-makers should encourage bank liquidity creation to stimulate the economy. In a robust economy, borrowers are more likely to repay their debts, consequently diminishing banks' NPLs.Originality/value>To the best of the author's knowledge, the current study is the first to provide empirical evidence on the effect of bank liquidity creation on NPLs in MENA countries.

9.
Ekonomika ; 100(2):84-100, 2021.
Article in English | ProQuest Central | ID: covidwho-1924753

ABSTRACT

Considering the specifics of the Russian economy such as dependency on oil, gas drilling and production, including the current context of the Western sanctions, COVID-19 pandemic as well as distinct potential output development, the main aim of this paper is to quantify the recent output gap for Russia. We use three mainstream methodologies: the Hodrick-Prescott filter as a benchmark, the Kalman filter to follow and the Cobb-Douglas production function. The sample time span ranges from 1995Q1 until 2020Q3, while all calculations are performed on quarterly frequencies. The analysis suggests that given the low fixed investment ratios, limited R&D spending in non-military sectors and adverse demographic development, under a "no policy change" scenario, there might soon be even more downward pressures on the country's potential output growth. The economy may continue increasing only at a snail's pace even after a possible withdrawal of the Western sanctions and the end of the COVID-19 pandemic.

10.
Ekonomika ; 100(1):67-74, 2021.
Article in English | ProQuest Central | ID: covidwho-1924751

ABSTRACT

. The present article describes the approaches and definition of the concept of uncertainty proposed by its authors, a quantitative evaluation of uncertainty, and materials of the empirical study used to explore the said issues on the example of macroeconomics of Georgia. We hope that the views given in the article will be useful for developing countries, particularly for the economic policy-makers in the post-communist states, as well as for the academic and scientific circles engaged in the studies of the above-listed issues.

11.
Ekonomika ; 99(2):104-115, 2020.
Article in English | ProQuest Central | ID: covidwho-1924750

ABSTRACT

The purpose of this study is to investigate the effects of the COVID-19 pandemic on economic policy uncertainty in the US and the UK. The impact of the increase in COVID-19 cases and deaths in the country and the increase in the number of cases and deaths outside the country may vary. To examine this, the study employs the bootstrap ARDL cointegration approach from March 8, 2020 to May 24, 2020. According to the bootstrap ARDL results, a long-run equilibrium relationship is confirmed for five out of the ten models. The long-term coefficients obtained from the ARDL models suggest that an increase in COVID-19 cases and deaths outside of the UK and the US has a significant effect on economic policy uncertainty. The US is more affected by the increase in the number of COVID-19 cases. The UK, on the other hand, is more negatively affected by the increase in the number of COVID-19 deaths outside the country than the increase in the number of cases. Moreover, another significant finding from the study demonstrates that COVID-19 is a factor of great uncertainty for both countries in the short-term.

12.
Ekonomika ; 99(2):92-103, 2020.
Article in English | ProQuest Central | ID: covidwho-1924749

ABSTRACT

What are the economy sectors will help countries overcome the crisis caused by the COVID-19 pandemic? How countries should rezone their investment strategies to bolster recovery in main economy sectors? Using the Cobb-Douglas model, the importance of agriculture, energy, education, and ICT industries for GDP growth was proven. It was confirmed that agriculture and industry will be key sectors in the post-crisis period for Ukraine, Poland and Austria. During the time of economic uncertainty growth, ICT and e-commerce sectors are principal tools that will sustain the population's well-being.

13.
Technological and Economic Development of Economy ; 28(3):775-803, 2022.
Article in English | ProQuest Central | ID: covidwho-1924337

ABSTRACT

The paper aims to improve the methodology of the Digital Economic and Society Index (DESI), the European Commission’s newest index to assess the development of the digital economy. In particular, we investigate whether methodological changes to the structure of DESI improve its ability to capture the digital transformation of EU economies. Using the sensitivitybased analysis, we check whether the selection of weights of individual elements included in the DESI is optimal or should be improved. We also verify the importance of DESI in explaining changes in GDP per capita in EU economies. In the literature, we find that digital transformation has enabled the creation of new business models and maximized efficiency in traditional firms. Using DESI, we empirically test whether the gap between rich and poor countries in European Union can be closed or eliminated through rapid and intensive digital transformation. Our results show that the DESI – when modified by eliminating the pillars on internet services and digital public services – has the same explanatory power. Connectivity is the dimension with the largest impact on digital transformation in EU countries. We also find that DESI is a significant regressor to explain changes in GDP per capita in EU countries.

14.
Journal of Applied Accounting Research ; 23(4):863-883, 2022.
Article in English | ProQuest Central | ID: covidwho-1922514

ABSTRACT

Purpose>The aim of this study is to examine the effect of financial leverage impact on customer satisfaction and marketing costs including research and development (R&D) and advertisement costs. Furthermore, the authors aim to investigate whether customer satisfaction as well as financial distress moderates the effect of financial leverage impact on customer satisfaction and marketing costs including R&D and advertisement costs.Design/methodology/approach>The statistical population of this study consists of listed companies on the Tehran Stock Exchange manually obtained from different industries in 2017. Multivariate regression based on data compilation methodology is used to test research hypotheses.Findings>The results indicate that financial leverage is negatively and significantly associated with customer satisfaction and this negative relationship is more pronounced in companies with lower sale growth. Furthermore, the authors' results suggest that customer satisfaction negatively (positively) and significantly affects firm value in companies with lower (higher)-financial leverage. The authors also demonstrate that there is no significant relationship between financial leverage caused by financial flexibility and firm value caused by customer's satisfaction (CS). The authors' findings also suggest that financial distress significantly affects the relationship between financial leverage and customer satisfaction. Finally, the authors' find that financial leverage significantly affects firms' R&D and advertisement costs.Research limitations/implications>Since the fundamental institutional assumptions underpinning the Western and even East Asia financial models are not valid in the institutional environment of Iran, the authors' findings could provide substantial implications for the authors' understanding of the relationship between finance and R&D costs and contribute substantially to customer satisfaction and firm value literature as well. The sample country of the present paper has recently experienced a spate of financial collapses that somewhat contributes, indirectly, to financial distress incurred by the Iranian firms. Moreover, R&D costs are growing among the Iranian quoted firms.Originality/value>Since the fundamental institutional assumptions underpinning the Western and even East Asia financial models are not valid in the institutional environment of Iran, the authors' findings could provide substantial implications for our understanding of the relationship between finance and R&D costs and contribute substantially to customer satisfaction and firm value literature as well. The sample country of the present paper has recently experienced a spate of financial collapses that somewhat contributes, indirectly, to financial distress incurred by the Iranian firms. Moreover, R&D costs are growing among the Iranian quoted firms.

15.
Journal of Management & Governance ; 26(2):621-640, 2022.
Article in English | ProQuest Central | ID: covidwho-1919886

ABSTRACT

The behavioral theory of corporate governance is employed to investigate the relationship between managerial entrenchment and corporate social responsibility (CSR) engagement. Effective corporate governance is argued to reduce managerial entrenchment, thereby increasing CSR engagement. The role of economic policy uncertainty (EPU) is investigated as a moderating variable in this relationship, such that high levels of EPU will increase the impact of entrenchment on CSR engagement. These arguments are supported using a panel of 386 US firms from 2011 to 2018 representing 3,088 firm-year observations in a variety of industries. In supplementary analysis, the CSR measure is disaggregated in order to provide further insight regarding these relationships as they pertain to the individual CSR dimensions under study. Findings inform research regarding the entrenchment-CSR link in particular environmental contexts. Practical implications include potential governance guidelines for boards of directors;stakeholder management given the policy environment;and the impact of government decisions as they affect policy uncertainty, firm actions, and CSR engagement.

16.
Journal of International Trade, Logistics and Law ; 8(1):198-203, 2022.
Article in English | ProQuest Central | ID: covidwho-1918525

ABSTRACT

The industrial sector is one of the key sectors for the Turkish economy in terms of production, employment and exports. The volatility in the exchange rate in the Turkish economy has important effects on industrial production, as well as many economic variables. The main purpose of this study is to empirically analyse the effects of real effective exchange rate on industrial production for the Turkish economy in the 2009M08-2022M01 period. According to the results of the study, the real effective exchange rate adversely affects the industrial production in the Turkish economy. Other things being equal, the depreciation of the domestic currency increases the foreign demand for industrial products, in line with the economic theory. Considering these relations between real effective exchange rate and industrial production while designing economic policies is important for sustainable economic growth.

17.
Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V ; 15(1):63-74, 2022.
Article in English | ProQuest Central | ID: covidwho-1912671

ABSTRACT

The main objective of this research consists in assessing the impact of the level of local fiscal decentralization on local employment growth in municipalities of Kosovo. To achieve the goal of this study, several panel datasets have been constructed, which include all 38 municipalities in Kosovo and cover the period from 2012 to 2020. This study also uses several models to test the relationship between fiscal decentralization and employment growth;however, the Hausman Taylor IV estimator is the main estimation strategy. The findings of the paper recommend that local fiscal decentralization has positive effects on local economic growth especially in the level of employment regardless of the size of Kosovo municipalities.

18.
Journal of Southeast Asian Economies ; 39(1):42-67, 2022.
Article in English | ProQuest Central | ID: covidwho-1910458

ABSTRACT

This paper conducts a comprehensive examination of the sources of economic growth and catch-up of ASEAN countries since the Asian Financial Crisis, with comparative views ofChina and India. The study employs different decomposition frameworks to gain insights into the drivers of the Association's economic performance over the 1997-2017 period. Three findings are most notable. First, all ten member states, except for Brunei, recorded a strong catch up performance, with labour productivity being the leading driver in most countries. Second, the drivers of labour productivity catch-up exhibit some distinctive patterns among countries, which depend on the level of income and economic structure. Third, in all decomposition analyses, ASEAN countries are well below China and India across sources of growth, which tends to suggest that countries in the grouping could improve their performance by enhancing market integration and policy coordination. Although the long-term prospect of ASEAN is bright, the COVID19 pandemic and the recent military coup in Myanmar have indicated that the road to future prosperity of the region is expected to face formidable challenges.

19.
Journal of Science and Technology Policy Management ; 13(2):189-194, 2022.
Article in English | ProQuest Central | ID: covidwho-1909152

ABSTRACT

[...]innovation policy should be suitable for attaining aims, which are different at each economic development stage. [...]seven lessons from three prosperous Asian countries are crucial for economic development: securing political stability;increasing R&D expenditures;facilitating the acquisition, diffusion and internalization of technology;encouraging government–industry–university collaborations;using the selection and concentration strategy;changing the governmental role from regulator to facilitator;and establishing a legal framework”. The paper titled “Comprehensive evaluation of Iranian regional innovation system (RIS) performance using analytic hierarchy process (AHP)” (by Ali Asghar Sadabadi, Zohreh Rahimi Rad and Kiarash Fartash) provides “a model based on the context and conditions of the regions in Iran for monitoring regional innovation systems (RISs). [...]after the extraction and correction of the indicators to evaluate the RISs, a comprehensive model was identified in 5 dimensions, 16 indicators and 176 sub-indicators.

20.
International Conference on Tourism Research ; : 546-552,XX, 2022.
Article in English | ProQuest Central | ID: covidwho-1905409

ABSTRACT

The tourism sector has been significantly impacted by the COVID-19 pandemic, making it one of the most affected economic areas worldwide. Simultaneously, the pandemic created contexts for the expansion and consolidation of trends already experienced in the recent past, namely the increasing adaptation of tourism to the digital society. One prominent example is the use of techniques known as "Big Data", which carry out a massive mining of data from different sources, in order to define "profiles" of tourist consumption. This paper aims to map the social and ethical controversies associated with the use of Big Data by addressing the "technological optimism" that tends to surround the use of these techniques in the tourism sector. Through a review of literature about Big Data in tourism, we conclude that the rhetoric surrounding the use of Big Data techniques is both utopian and dystopian. On the one hand, according to literature in disciplinary areas related to the development of technology, Big Data is considered an indispensable tool for improving competitiveness in the tourism sector and for helping to understand the tourist more effectively. On the other hand, however, social sciences tend to frame Big Data as an astute representation of Big Brother, challenging the protection of personal privacy in tourism consumption and highlighting the lack of awareness and legal regulations, as well as the possibility of decontextualisation and false correlations that may jeopardize the touristic experience. For this reason, it has become urgent to develop a critical reflection on the ethical challenges posed by the uses of Big Data in tourism and consider routes of an anticipatory governance of these technologies.

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