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The new tax and investigation (criminal) amnesty in Albania – Some legal and economic considerations in comparison with the Italian case

The new tax and investigation (criminal) amnesty in Albania – Some legal and economic considerations in comparison with the Italian case

The new tax and investigation (criminal) amnesty in Albania – Some legal and economic considerations in comparison with the Italian case

Author(s): Elvin Meka,Enida Bozheku / Language(s): English / Issue: 1/2023

Keywords: tax & investigation amnesty; moral hazard; fiscal policy; fiscal discipline;

The Albanian Government intends to undertake a comprehensive tax and criminal amnesty, which is totally different from the two previous ones, which were not only partial and not truly tax amnesties but lacked the criminal component. This paper tries to shed light on key economic, financial and legal inconsistencies and pitfalls such draft law contains in the proposed form. Notwithstanding its good intentions, going down to practical and legal grounds, the amnesty that is being proposed constitutes in itself a very complex and difficult decision, for the very twilight landscape it depicts. Also, as the legal analysis shows, the proposed fiscal and criminal amnesty creates open conflicts with other organic laws (Criminal Code and Civil Code) and the respective legal framework that regulates the aspects of prevention and money laundering and the financing of terrorism. Furthermore, using a comparative analysis with the Italian fiscal and penal amnesty, it results that in case of the Albanian draft law on the (fiscal & criminal) amnesty, the inconsistency between the entities to which the voluntary declaration can be applied, the general exemption from criminal liability in case of declaration of assets, regardless of the source of their creation, leaves clear space for abuse and leaves a path for this procedure to return to fertile territory for money laundering. We conclude that, despite the fact that undertaking of a fiscal and criminal amnesty should not be considered a taboo in itself, a successful fiscal and criminal amnesty should be based on an in-depth analysis of the market’s needs, it must avoid conflicts with the existing legal framework in Albania, and respect the constitutional principles and the concepts of guaranteeing the rule of law and the fight for the prevention of crime and forms of laundering the products of criminal activity.

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Tax Amnesty – The choice between fiscal discipline and economic development. The case of Albania

Tax Amnesty – The choice between fiscal discipline and economic development. The case of Albania

Tax Amnesty – The choice between fiscal discipline and economic development. The case of Albania

Author(s): Xhemalie Kamani,Elona Shehu,Hysen Muceku / Language(s): English / Issue: 1/2023

Keywords: economic development; taxes; avoiding paying taxes; tax amnesty; reimbursement; state budget; cost; benefits;

Nowadays, the various problems in the economy are directly affecting the economic development of the countries considering tax abuse as a serious issue in the economy, in overall. The conflict arising in nowadays society seems to be between the demand to increase welfare and consequently the refusal to face tax obligations. Hence, a country’s economy cannot upgrade itself without the efficiency of fiscal policies. The scope of this article is to analyze the relationship between fiscal discipline and economic development in Albania. The objectives of this research are to review the literature on tax amnesty program and describe the factors related to tax amnesty, such as: implementations, costs and benefits, participation and the effects of the program and lessons learned from countries around the world to show the connection that exists between tax amnesty and economic development in Albania. For all possible standards in the country, it is very important that the state budget is reimbursed in a timely manner. Undoubtedly, the question that arises on behalf of this paper is whether the tax amnesty would serve as an aid for the reimbursement of the state budget.

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Quality of institutions, foreign direct investments and economic growth: Empirical evidence from Balkan economies

Quality of institutions, foreign direct investments and economic growth: Empirical evidence from Balkan economies

Quality of institutions, foreign direct investments and economic growth: Empirical evidence from Balkan economies

Author(s): Kevin Topi,Selami Xhepa / Language(s): English / Issue: 1/2023

Keywords: Institutions; Foreign Direct Investment; Economic Growth; Western Balkans; European Union;

This paper analyzes the relationship between institutions, foreign direct investment (FDI) and economic growth in the Western Balkans region. We use a difference-indifference method to evaluate the impact of institutions on attracting FDI and promoting economic growth and we find evidence, which support that quality of institutions is an important policy variable. The research shows that institutions play a key role in determining economic growth and attracting foreign investment. This highlights the importance of creating and maintaining inclusive institutions that promote the rule of law, control of corruption, and regulatory quality, which can lead to increased economic development and investment.

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A literature review on entrepreneurial university policies: Definitions, factors and theories

A literature review on entrepreneurial university policies: Definitions, factors and theories

A literature review on entrepreneurial university policies: Definitions, factors and theories

Author(s): Ketrina Çabiri Mijo,Ermira Qosja / Language(s): English / Issue: 1/2023

Keywords: entrepreneurial university; policies; university – industry collaboration; formal and informal factors; theoretical models;

The entrepreneurial university model has gained popularity in recent years, as universities seek to increase their impact on the economy and society by promoting innovation and entrepreneurship. Many universities now see entrepreneurship as an important part of their mission and are working to create an entrepreneurial culture that encourages and supports innovation and commercialization of scientific research. This paper is based on the literature review methodology and highlights the essential points about the entrepreneurial university discourse, provides the formal and informal factors that make possible the transformation of a university into an entrepreneurial one, as well as the theoretical models of entrepreneurial approaches. Being new to the entrepreneurial concept, the Albanian universities face a variety of challenges. The current status of universities into the modern society requires them to play a dual role in setting high teaching standards and students’ competence-oriented learning and, on the other hand, play a boosting role in innovation and economic development of the country. This paper is of interest to Albanian universities that would like to establish and formalize entrepreneurial policies and overcome implementation obstacles.

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“Fear” of the free exchange rate – The case of Albania

“Fear” of the free exchange rate – The case of Albania

“Fear” of the free exchange rate – The case of Albania

Author(s): Krista Kozmai / Language(s): English / Issue: 1/2023

Keywords: Money; exchange rate; fundamental factors; trade deficit; interventions in the foreign exchange market;

The consumer society of nowdays would have struggled to exist in the last century; money, which today carries no intrinsic value (legal tender), used to hold value by being linked with precious metals. The exchange rates of each country’s currency were determined by the quantity of precious metals each country possessed in tis central bank’s coffers. After the collapse of the fixed-rate system, the determinants of exchange rates have been hard to find. Given that the continuous widening of the Albanian trade deficit, as well as the continuous strengthening of ALL against Euro, this study aims to investigate whether fundamental factors affect the ALL-EUR exchange rate, at all. In addition, this study examines whether this exchange rate has been influenced by the Bank of Albania’s interventions in the (domestic) foreign exchange market. The study is based on a quantitative analysis, with secondary data obtained from INSTAT and the Bank of Albania. The data are quarterly and have been collected for a period of 14 and a half years, from the first quarter of 2008 to the second quarter of 2022. The graphical analysis and regression results showed that fundamental factors significantly affect the ALL-EUR exchange rate and that the interventions by the Bank of Albania, in the foreign exchange market, have not had a statistically significant impact on the (domestic) exchange rate.

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Projects’ success and respective factors that produce it – The case of Higher Education Institutions in Albania

Projects’ success and respective factors that produce it – The case of Higher Education Institutions in Albania

Projects’ success and respective factors that produce it – The case of Higher Education Institutions in Albania

Author(s): Jola Osmënaj / Language(s): English / Issue: 1/2023

Keywords: Project management; project success; project failure; higher education institutions (HEI); mobility; capacity building;

Organizations and institutions are in a continuous change. What remains unchanged is their need for new and continuous participation in international and national projects, as an incentive to adapt to innovations and to develop cooperation. In order to realize all the set objectives and fulfil initial goals, it goes without saying that a project should be based on a framework of criterions, considered as crucial for a successful implementation and realization of projects. The paper addresses such framework, criteria and the related issues with a special focus on HEIs in Albania. Through the review of a rich literature, we have worked on the definition of a project, the development phases, as well as some projects undertaken by HEIs. The methodology used consists in utilizing the semi-structured interviews, and the survey analysis will be done in the QDA Miner Lite program, thus drawing final conclusions, thereon. The study shows that, generally HEIs in Albania have taken solid steps towards developing sustainable and successful projects, being aware of the necessary criteria that drive success and the monitoring of projects during all project’s stages.

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The tourism of business and conferences – Opening a convention bureau (CVB) in Albania

The tourism of business and conferences – Opening a convention bureau (CVB) in Albania

The tourism of business and conferences – Opening a convention bureau (CVB) in Albania

Author(s): Aurela Braholli,Enea Kashariqi / Language(s): English / Issue: 1/2023

Keywords: Convention Bureau; business and congress tourism; information; promotion; tourism subject;

The tourism of business, conferences and exhibitions is classified as the oldest form of tourism in the history of humanity and an aspect of the tourism industry which has seen a significant increase in recent years. The main purpose of this article is to study the impact of opening a Convention Bureau, in terms of development of tourism of business and congress. To achieve this goal, a survey analysis was conducted, which involved 50 tourist organizations in 3 cities, Tirana, Durrës and Elbasan, with the key objective to highlight the importance of opening a Convention Bureau to develop tourism of business and congress, as well as how to study and obtain results on its impact regarding increasing the productivity of tourism sector services. Consequently, the improvement of communication, coordination of information, development of best marketing and PR practices, also increases the need for investment in more specialized human resources, who must know the functioning processes of the Convention Bureau structures, in function of the development of this tourism sector. At the end of this study it was concluded that opening of a Convention Bureau causes a greater development of the tourism of business and conferences, and this is confirmed by obtaining data on how this cooperation may produce successful outcomes in this regard.

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Evaluating the customer retention and satisfaction in the Albanian auto insurance

Evaluating the customer retention and satisfaction in the Albanian auto insurance

Evaluating the customer retention and satisfaction in the Albanian auto insurance

Author(s): Eleni Kalemaj / Language(s): English / Issue: 2/2022

Keywords: customer loyalty; customer retention; customer satisfaction; auto insurance in Albania; NPS index; Cochran’s test;

Customers are the reason why businesses exist, prosper, and expand. Customer acquisition is the main goal for sales teams because more clients mean more money. The pandemic constrained people to reconsider how they utilize their time and what companies they do business with, including their insurance options. The insurance industry has the highest customer acquisition costs of any industry. Customer acquisition in insurance costs are nine times higher than customer retention, so ‘’Happy clients” is no longer a nice to have, but a must in insurance industry. In order to be profitable in insurance, the industry should focus in the customer experience service by improving important indicators like loyalty and retention. In this study, I seek to understand the factors that may cause an insurance services firm to lose some of its customers who have auto insurance. The findings of this empirical research utilized NPS for measuring customer loyalty in the auto insurance market in Albania. To be successful in both customer acquisition and customer retention, Albanian insurance companies must focus in the factors identified in this research in order to influence customer loyalty and adjust their marketing strategies accordingly. The importance of the study consists on the lack of any similar research that looks at customer satisfaction, retention, and reasons for customer loss in the Albanian insurance sector. These variables have not been studied together previously. As a result, the findings of this study may serve as a starting point for other studies in the Albanian insurance sector.

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Challenges of agricultural insurance development in Albania

Challenges of agricultural insurance development in Albania

Challenges of agricultural insurance development in Albania

Author(s): Grisejda Myslimi,Emirgena Nikolli,Joana Shima / Language(s): English / Issue: 2/2022

Keywords: Agriculture; Albania; agricultural insurance; natural hazards;

Agricultural production is exposed to natural risks that cannot be prevented and lead not only to production losses but also to a decrease in farmers’ income. As a result of these risks, farmers often do not have the opportunity to pay their loans. Against risky borrowers, credit institutions refuse to give loans. Under these conditions, the government must intervene in risk management, trying to reduce these negative effects. The provision of agricultural products as one of the most important instruments for the financial support of this sector will be the focus of this paper. Agricultural insurance provides compensation for economic losses resulting from unfavorable natural phenomena, contributing to the reduction of poverty. Without adequate insurance, lenders would not provide farmers with insurance policies. Agricultural insurance is a tool that helps farmers to predict the future, to protect the business from unforeseen events, supply and demand fluctuations or various operational challenges. In the case of developing countries such as Albania, these markets are not developed. A main problem in the development of these markets is the lack of demand due to unaffordable prices for farmers. One of the biggest challenges of the agricultural insurance industry is not only providing the right insurance product, but also helping agricultural sector in improving risk management practices to increase production. As Hazell (2009) puts it, many agricultural risks cannot be insured on a financially sound basis, but there is scope for increased insurance of farm assets, of the life and health of rural people, and of some specific perils that affect crop and livestock yields. Such insurance could be efficiently provided by the private sector if governments were to remove some of the important constraints impinging on commercial insurers. The greatest challenge is to find ways of insuring low-income rural households against natural hazards on a financially sound basis.

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The insurance market in Albania, the degree of concentration, and consequences on the economy

The insurance market in Albania, the degree of concentration, and consequences on the economy

The insurance market in Albania, the degree of concentration, and consequences on the economy

Author(s): Elisa Korsita,Elvin Meka / Language(s): English / Issue: 2/2022

Keywords: insurance; market; scale; concentration; economy; impact; stabilization;

The purpose of this study is to critically analyze the insurance market in Albania, its level of concentration, and somehow to answer the question whether it impacts the country’s economy. The study analyzed how the insurance system in Albania has evolved, and more specifically, how the situation and progress of the insurance market in Albania is presented in the last 5 years (2016-2021), and how the degree of concentration of the insurance market in Albania is presented and what contribution it makes to the national economy of Albania. The study hypothesized that, in the insurance market in Albania, we still cannot say that we have optimal competition, as we still have a high degree of concentration, and that this factor has also influenced the weight of the insurance market in the economy of Albania. Throughout the study, the qualitative methodology was used, through the case study, from where, statistical processing and the comparative method was used as a method. The study concluded that within the insurance market in Albania, we still cannot say that we have fair competition, as we still have a high degree of concentration, and that this factor has begun to affect the weight of the insurance market in the economy in Albania. It is recommended that the AMF work more towards stabilizing competition and the degree of concentration of the insurance market in Albania, stabilizing the price level.

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Social enterprises in Albania – Reporting and impact on the economy

Social enterprises in Albania – Reporting and impact on the economy

Social enterprises in Albania – Reporting and impact on the economy

Author(s): Sokol Ndoka,Alma Uku / Language(s): English / Issue: 2/2022

Keywords: social business; economy; entrepreneurship; influence; Albania; reporting;

A social business is a new form of business that can be considered as a bridge between the community of profit-maximizing organizations and the community of non-profit organizations. The business model concept is currently attracting a lot of attention from researchers and seems useful in providing guidance on how to create social businesses. The purpose of this study was to investigate social enterprises, their reporting and impact on the economy, specifically stopping in the Albanian case and gathering perceptions and knowledge about this new phenomenon. The study, as a by-product, also aimed to understand the dynamics and potential of market development, but also of policies that may facilitate or even further hinder its development. The methodology used in this paper combines primary with secondary data. Two instruments (questionnaire) were used to collect the primary data in the study, to identify the concept of social business directed at the population, as well as those responsible or employees of certain businesses in Albania. The study concludes that both businesses and individuals were proactive, in terms of developing this form of business in Albania. Although there were still difficulties in understanding the theoretical component or the legal component when it comes to social business, the respondents were positive against this new form of business. While individuals expressed a desire to work in such businesses, their businesses in most cases expressed a desire to introduce more social components in their own businesses. Results also highlighted the lack of regulatory framework, which in most cases becomes a constraint on the development of these businesses and their full development potential. It is noted that social businesses in Albania should strive to blend multiple institutional, legal and regulatory logic, by combining social and commercial missions in their business model, so that they have more market and a higher spread in Albania. Business has a high potential for economic development at country level.

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A synthesis of the current situation of university-industry cooperation in Albania following the Triple Helix Model

A synthesis of the current situation of university-industry cooperation in Albania following the Triple Helix Model

A synthesis of the current situation of university-industry cooperation in Albania following the Triple Helix Model

Author(s): Ketrina Çabiri Mijo,Ermira Qosja / Language(s): English / Issue: 2/2022

Keywords: cooperation industry-university; triple helix model; scientific research;

Albanian universities face a variety of challenges which reflect the national and international factors in the political, social, and economic sphere. On one hand Universities should establish high teaching standards which equip students with necessary competences requested by the labour market and on the other hand they should play an important role in boosting innovation within industries through scientific research, to impact the economic development of the county. The goal of this research is to analyse the existing collaboration among universities and the industry in Albania, from the perspective of universities and companies. This research uses a qualitative methodology, based on the questionnaires of work page 1 of the KALCEA project. In total, the sample consists of 43 respondents, 16 of which are university senior management staff and 27 leaders/administrators and senior managers of large Albanian companies. Findings of the paper indicate that cooperation between Universities and industry do exist and is claimed as important by both parties. However, it still lacks strategic plannings and structural approaches which establish, inter alia, the necessary culture of synergy and common innovative product.

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Retirement planning attitude in a financial behavior perspective. Case of Albania

Retirement planning attitude in a financial behavior perspective. Case of Albania

Retirement planning attitude in a financial behavior perspective. Case of Albania

Author(s): Elona Shehu,Blerta Molishti / Language(s): English / Issue: 2/2022

Keywords: behavioral theory; EMH; prospect and life cycle theory; financial literacy; saving attitude; future orientation; age group;

Nowadays, an issue that is becoming more and more prominent and is receiving attention from everyone is retirement planning. Retirement planning behavior is defined as the behavior of individuals toward the design of planning schemes, which has emerged in recent years from research in behavioral economics (financial behavior). Studies carried out time ago have shown that the realization of a planning has brought impacts both on saving behavior and on portfolio selection. Also, it is emphasized by the researchers in this field that there are some very relevant factors, which help the retirement planning behaviour. The main purpose of this paper is to get acquainted with the behavioral theory, then research and determine the factors that influence planning behavior and readiness for retirement, seeing and analyzing this whole “phenomenon” in basis of division of different age groups for individuals employed in our country. The factors highlighted by the research are financial literacy, saving attitude, future orientation. Methodological research approach of data generation is the combination of quantitative and qualitative methods, which was realized by developing a structured questionnaire. The questionnaire is divided into two sections respectively and is completed by 164 respondents with a variety of professional backgrounds. From the empirical data collected and the analysis carried out, it is concluded that the middle age group (36-50 years old) shows a greater approach in the planning behavior of savings for retirement readiness. As well as from the review of the literature, it is concluded that there is a positive correlation between the planning behavior of individuals and the aforementioned factors.

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The impact of trade agreements. Case of Albania

The impact of trade agreements. Case of Albania

The impact of trade agreements. Case of Albania

Author(s): Ledion Ferataj,Emirgena Nikolli / Language(s): English / Issue: 2/2022

Keywords: import; export; GDP; CEFTA; trade agreements;

This paper aims to explain the impact of the CEFTA trade agreement on macroeconomic terms of Albania in the terms of GDP and trade balance. The main is the development of the states and the components taken in the study provide clear overview for this purpose. In the realization of this paper, the quantitative research method was used. There are mainly used government publications and scientific articles of various academics. Analysis of the findings is done with descriptive analysis and simple analysis, the explanation between variables. Regarding the work method, dependent variables such as GDP and imports were used and exports of our country and independent variables in the first analysis changed imports and exports to see how Albania’s GDP changes when variables change such as democracy index, free business index to get a better picture formed of the study. They are used as dummy variables that take the variables from 0-1. For help, the calculator on the web (distance calculator) and e-viewer was used for ease of calculations. By using the gravity equation, we show that CEFTA has had an important impact in the distribution of Albania to CEFTA partners. CEFTA has increased Albania’s exports by 34%. The results show that Albania’s imports have been affected significantly and are good for remittances. Another important relationship it is determined between the import and export of Albania. The increase in Albanian exports appears that it has a positive impact on Albanian imports. It is clear that the relationship between GDP, exports and foreign direct investments is a positive relationship, with growing exports and foreign direct investment, GDP is bound to grow to visible way.

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Analysis on the tourist offer of the Vlora Region, from the viewpoint of tourism stakeholders

Analysis on the tourist offer of the Vlora Region, from the viewpoint of tourism stakeholders

Analysis on the tourist offer of the Vlora Region, from the viewpoint of tourism stakeholders

Author(s): Ani Mbrica,Aurela Braholli / Language(s): English / Issue: 1/2022

Keywords: tourism; tourist offer; stakeholder; Region of Vlora;

The tourism industry is one of the vital sectors of the Albanian economy, an important contributor to the country’s GDP, investments and employment. During the last 10 years, through the investments, marketing and services provided, this sector has tried to offer tourism products which have significantly increased the number of visitors, both Albanians and foreigners, but still reflects many issues hindering its competitiveness in the region and the increase in profits. Given the problems that accompany this sector in relation to seasonality and the small number of days of stay of tourists, as well as concerning the objectives of the National Strategy for Sustainable Tourism Development 2019-20236, this paper aims to analyse the tourist offer of the Vlora Region from the point of view of tourism stakeholders. The qualitative method is used to analyse the tourist offer of the Vlora Region, based on a questionnaire in the form of a semi-structured interview with private operators, public operators, donors and NGOs related to the sector, and training and educational institutions. The findings of the paper highlight not only the weaknesses and strengths of the offer, but also the opportunities and threats that need to be considered. In particular, they emphasize the need for cooperation and accountability in line with roles played in the sector.

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Behavior finance – The impact of financial behavior on economic decision-making of individuals in Albania. Quantitative study of risk resistance and overconfidence based on gender approach

Behavior finance – The impact of financial behavior on economic decision-making of individuals in Albania. Quantitative study of risk resistance and overconfidence based on gender approach

Behavior finance – The impact of financial behavior on economic decision-making of individuals in Albania. Quantitative study of risk resistance and overconfidence based on gender approach

Author(s): Aurora Molishti,Sokol Ndoka / Language(s): English / Issue: 1/2022

Keywords: Behavioral finance; financial decision making; gender approach; risk aversion; overconfidence; Chi testing;

For years the field of behavioral finance tries to explain economic actions and decisions in financial markets based on financial, psychological, and emotional factors, which affect the behavior of investing individuals. Various studies show that males are more tolerant of risk and make more risky decisions than females. The fact that men trade more than women in financial markets is attributed to the overconfidence they have. Men in addition to trading more, also own larger financial portfolios than women, but less diverse than they are. The purpose of this paper is to investigate whether gender can really influence financial decisions through risk aversion, gender, and overconfidence. The data in this paper were collected through a very close population survey, explicitly students at European University of Tirana and an Albanian individual with financial knowledge. To measure statistical differences between the gender the Chi statistical test was used. Through empirical findings and analysis of data obtained from the statistical test was concluded conclusions from this study. It was found that there is a tendency among females to have a higher level of resistance to risk than males. This means that Albanian women will undertake a lower risk when managing an investment portfolio. Albanian men, meanwhile, have more confidence in their financial decisions.

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Service quality in the banking system. The case of Tirana Bank

Service quality in the banking system. The case of Tirana Bank

Service quality in the banking system. The case of Tirana Bank

Author(s): Ketrina Çabiri Mijo,Xhorxhina Salaj / Language(s): English / Issue: 1/2022

Keywords: Client; Service Quality; Reliability; Loyalty; Responsibility;

The work environment is constantly changing thus it is a prerequisite for businesses to effectively adapt themselves to increase productivity. Various performance reports have shown that the approach how a bank operates drives its path toward growth or degradation. The purpose of this research is to provide insights on the role of service quality in the banking system, with a case study on Tirana Bank. Using financial statements as key indicators, we have provided basic information on the growth and development of Tirana Bank in Albania. Young people in Albania are the generation that understand the positive consequences of practicing emotional intelligence, shifting greater emphasis on how to achieve a worthy presentation between the equally sensitive and uncompromising “client service”. Therefore, we have collected responses of a questionnaire submitted by clients of Tirana Bank, gathering as such the necessary information to conduct a study on the importance of service quality in the banking system. Methodologically speaking, this paper uses a simple regression analysis and Cronbach’s alpha model, based on 18 questions posed to 350 clients at different ages over a period of 1 month. Through this analysis, it argues that there is a strong positive relationship between service quality and other influential variables, reliability, security, loyalty, sensitivity, vulnerability and responsibility. This means that an increase of the above factors leads to the enhancement of service quality, therefore results show that to increase the bank’s reputation, bring effectiveness to the institution and create increased competition, managers must upgrade it to the most optimal level possible.

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Relationship between education and economic growth

Relationship between education and economic growth

Relationship between education and economic growth

Author(s): Emirgena Nikolli,Elona Shehu / Language(s): English / Issue: 1/2022

Keywords: Academic influence; educational settlements; economic growth;

The purpose of this research is to examine the relationship between educational attainment and economic growth in Albania. This research analyses how educational opportunities contribute to Albania’s economic growth via the use of empirical data. Additionally, it examines the relationship between education and economic development in Albania. Using general economic theory as a starting point, this study analyses some of the potential implications for Albanian economic and educational policy. By stimulating technological innovation and boosting capital and labor productivity, education expenditure increases the economy’s revenue. Using statistical analysis, empirical research attempts to ascertain the true causal effect of educational and training quality on individual salaries, firm profitability, and the economy as a whole. The results suggest that education may be a critical factor in Albania’s long-term economic growth, making it a critical component of the country’s economic strategy. According to the study’s results, the government and private sector should collaborate to improve education quality via public-private partnerships. The impact of education on economic development and its relationship is portrayed in this study since it should be a primary goal of policymakers.

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Neoliberalism and the global financial crisis of 2008

Neoliberalism and the global financial crisis of 2008

Neoliberalism and the global financial crisis of 2008

Author(s): Xhesi Shkreta,Krisdela Kaçani / Language(s): English / Issue: 1/2022

Keywords: neoliberalism; global crisis; liberalism; financial market; real estate market; financial bubbles;

This paper tends to analyze the link between the global financial crisis of 2008 and neoliberalism ideology. This crisis was, in all aspects, a multidimensional global crisis. Initially it began with the crisis of banks, credit and stock exchange, to end up in the economic recession and the disbelief of the free market models adopted in that period. It all started to emerge during 2007 as a financial crisis, which originated from bad loans in the US real estate market. Immediately, the crisis had global impact in Europe and other parts of the world. The great impact and development of such a crisis raised great questions about the ways financial markets and stock exchanges were built and operate, even doubting neoliberal practices, if they were indeed the best model of economic development that countries could adapt. This paper argues this relation, if whether neoliberalism was the main cause of the crisis, taking into consideration the arguments of neoliberals and other specialists in economic and financial field. Through inductive method used in the argument, it is concluded that global crisis of 2008 did not have a single cause, responsible for its birth and deepening, much less that it was the implication of neoliberal ideas in the economic field. It was a series of factors that inevitably led to its birth and deepening. Finally, based on the conclusions drawn, some recommendations are given, which should be implemented to avoid such crises and phenomens in the future. The paper concludes with an appeal for companies for a higher corporate responsibility in protecting social groups affected by these crises.

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Structural changes of the agriculture in Korça region, aiming the sustainable development

Structural changes of the agriculture in Korça region, aiming the sustainable development

Structural changes of the agriculture in Korça region, aiming the sustainable development

Author(s): Adrian Maho,Ferdinant Maho / Language(s): English / Issue: 1/2022

Keywords: agriculture; economic indicators; eco-compatible agriculture; Korça region; structural changes;

Korça region is characterised by advantageous essential factors such as large areas of the fertile soil, a fresh clime, high possibilities for watering, excellent tradition of the distinguished farmers, intellectual reources etc. • Agriculture – The economic sector that contributes over 24% of the GDP; • 50% of the employees work in this sector; • 52% of the population lives in rural areas. The aim of this paper is to analyze the current situation of the agriculture sector in Korça region. What are some of the structural changes of the agriculture after the privatization and the transformations of the social system. The structural changes for the agriculture in Korça region have occurred based on the analysis of the economic indicators. The farmers, in fact, are the protagonist of a transition, i.e the transformation from a conventional agriculture and productive to a sustainable and eco-compatible agriculture. The necessary elements for the development of a sustainable agriculture are not only biological or technical, but also social, economic and political and they explain the adequate needs for establishing a sustainable society.

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Result 255801-255820 of 317410
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