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”16+1”: PROMISES AND PITFALLS FOR EU-CHINA TRADE NEGOTIATIONS IN THE CONTEXT OF ONE BELT ONE ROAD COOPERATION

Author(s): Teodora-Maria Chihaia / Language(s): English Issue: 1/2019

This brief presentation aims to increase the understanding of international trade negotiations between China – Central and Eastern Europe region as well as Europe through the framework of One Belt One Road ( OBOR ) cooperation, with a focus on the legal perspective regarding the rule of law conditionalities, EU external trade relationship on the basis of respect for rule of law and the restoration of trust toward the creation of new rules.

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İKTİSAT POLİTİKALARI VE KADIN EMEĞİ

Author(s): Üyesi Barış Aytekin / Language(s): Turkish Issue: 3/2018

Economic policies (IP) investigate solutions to various problems in the economy. However, the effectiveness of these policies is mostly addressed in macro level (economic growth, total employment, general price level etc.), while the microeconomic dimension (effects on production factors, etc.) is insufficient. The place of women's labor and women in the economy as a special production factor should be considered within the scope of IP. The problem of efficacy of women's labor has significant effects on socio-economic and economic-political aspects. In this respect, in the context of gender inequality (TCE) problem, it has the feature of both the emergence of this problem and the TCE problem. "Gender inequality" is a chronic crisis which have an impact in all areas of life. Overall, female labor participation rate and wage level are low in underdeveloped economies. In addition, opportunities for representation in education, health and political sphere remain insufficient. In addition, low economic participation and income asymmetry emphasize the importance of women's poverty. The problem of efficiency in women's labor within the framework of the TCE causes deviations from the optimum level of macroeconomic targets in an economy and affects the socio-economic / cultural development negatively. Therefore, it is important that economic policies are used more effectively for this problem. The aim of the article is to explain the importance of women's labor in terms of economic policies. First of all, the effects of gender inequality on macro / microeconomic area will be discussed. Afterwards, the relationship of women's labor with economic policies will be emphasized and the problem of women's labor will be evaluated especially in the context of feminist economics.

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Impact of Intervention Fund on the Growth of Small and Medium Scale Enterprise in Abuja

Author(s): Murat Akyüz,Christy Zwingina Twaliwi,Michael Isaac Opusunju / Language(s): English Issue: 16/2019

The study investigated the impact of intervention fund on the growth of small and medium scale enterprise in Abuja. The intervention fund was measured with the level of collateral conditions and growth of SMEs was measure with SMEs output and employment generation. The study adopted survey research design and used primary source of data collection through the administration of questionnaire to the respondents who were the owners of SMEs in Abuja, FCT. The questionnaire was designed in a five-point Likert scale. The population of this study was 26000 and was reduced using Taro Yamane formula and the sample size was 393. The questionnaire was administered randomly to the 393 respondents across the six Area Councils in Abuja. The study adopted regression as a statistical tool and used e-view as statistical software to analysis the data and the findings indicate that Federal government intervention fund contributes statistically to the growth of small and medium scale enterprise in Abuja. Other finding was that Federal intervention fund contribute significantly to increase in the output of SMEs and government intervention fund in Abuja contribute significantly to employment generation in Abuja. The study therefore recommended that federal government of Nigeria should try and reduced the collateral conditions to enable the SMEs in Abuja that are just growing to obtain the intervention funds since the intervention fund leads to SMEs growth in Abuja.

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Estimating Monetary Policy Reaction Function: The Case of Nigeria

Author(s): Adeniyi Olatunde Adenuga,Jelilov Gylych / Language(s): English Issue: 16/2019

The main responsibility of the Central Bank of Nigeria (CBN) is to formulate and implement monetary policy, with the primary objective of maintaining stable prices conducive to balanced and sustainable economic growth in Nigeria. It also aims to promote and preserve monetary and exchange rate stability as well as ensure a stable and sound financial system. Nigeria’s monetary policy is anchored on a monetary targeting framework, and price stability represents the overriding objective of monetary policy. The transmission mechanism needs to be continually strengthened. Consequently, there is need to fine-tune the monetary policy framework so that transmission can be more effective and clear and the economic agents can view monetary authority actions as credible.

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he Contribution Of Foreign Aid To The Reduction Of Poverty In Developing Nations?

Author(s): Faiza Maitala,Nkoyo Ekere / Language(s): English Issue: 15/2019

Purpose: This paper seeks to examine the impact of foreign aid in poverty reduction in developing nations. It reviews the positive and negative impacts of aid in lessening poverty in evolving countries and the critical success factors that could serve as a blueprint for developing nations to adopt. Methodology/Approach: The paper employs a critical review of extant scholarship, where empirical evidences on the positive and negative effect of foreign aid carried out from various countries were provided to support the claims of the studies. Findings: The findings give insight into the viability of aid and identified some key critical success factors which comprised of good governance, recipient domestic policies, stringent conditionality of aid and interest of donor countries. Research Implication: This paper provides a blueprint for critical success factors necessary for aid to be an effective tool for lessening poverty in the growing nations.

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The Role Of Ecowas Protocol For The Movement Of Persons, Goods And Services In Promoting Economic Growth On Africa’s Development

Author(s): Anadi Ngozi Obeta,Mohammed Hilal Adamu / Language(s): English Issue: 15/2019

This paper examined the legal instrument for regulating Economic Community for West African States framework for building common economic market through inter-regional trade to boost economic activity for Africa’s growth and sustainable development by movement of persons, goods and services. The paper adopted doctrinal method by examining the ECOWAS protocol and other regulations made by member states in providing enabling environment for establishment of common market by trade liberalization or common external tariffs. The result of the study revealed that there was significant achievement in the movement of persons within the ECOWAS community using unified travel documents, however, the movement in goods and services aspects has not been fully implemented by the member states owing to myriad of challenges that ranges from harmonization or streamlining of Common External Tariffs (CET) by the member states.

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Use Of Financial Analysis In Improving Financial Performance: A Case Study Of Industrial Company In Iraq

Author(s): Mohammed Ali Jwaid Al-Mohammed / Language(s): English Issue: 15/2019

The study examined the Use of Financial Analysis in the Evaluation of Financial Performance: A Case Study of Fallujah Construction Materials Company. The financial analysis includes a detailed study of the data contained in the financial disclosures, a study of the results of the financial performance to be interpreted and the identification of weaknesses and strengths in the financial policies established at the facility. This conversion process requires the use of a range of methods, the most important of which are financial ratios and the financial analyst's best choices for the problems faced by financial management, and do everything he can to help the administration adopt right decisions that make actual performance as required. The lowest cost and there is no choice in front of us except profit or loss is the tool that can show how economically efficient industrial projects perform.

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THE IMPACT OF POLITICAL FACTORS‘ PERCEPTION ON SUITABILITY OF INTERNATIONAL BUSINESS ENVIRONMENT: THE CASE OF STARTUPS

Author(s): Ludmila Kozubikova,Anna Kotásková,Ján Dvorský,Aleksandr Ključnikov / Language(s): English Issue: 1/2019

Favorable business environment including political, technological, economic, social and other determinants is one of the crucial factors influencing the decision to start a business. The aim of this paper is to define and quantify significant political factors which determine the perception of the quality of business environment (QBE) of small and medium-sized enterprises for starting a new business in Czech Republic and Slovakia. Data of an extensive research conducted at Tomas Bata University in Zlín in 2018 was processed by means of regression analysis. The results show that QBE in both countries is mostly affected by state regulation and state support of business activities, followed by legal environment. The factor supposed to be the third one differed in each country. While QBE is also determined by the quality of education in Czech Republic, this factor is not statistically significant in Slovakia, and the state bureaucracy is. Therefore, governments of both countries should continue facilitating start-ups’ development by reducing and eliminating administrative barriers, improving access to finance, and by adapting educational programs involving entrepreneurial education at different educational levels.

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MEASURING AND RANKING R&D PERFORMANCE AT THE COUNTRY LEVEL

Author(s): Marianela Carrillo / Language(s): English Issue: 1/2019

In the context of generally growing interest in R&D (Research and Development) efficiency, the main objective of this work is evaluation and ranking of the R&D performance on a set of selected countries with the highest worldwide level of engagement in R&D activities. To that aim, R&D efficiency of the sample countries is assessed with Data Envelopment Analysis, then the overall performance score is obtained with the cross-efficiency method and the considered countries are listed in the order according to their R&D performance. The findings of this study point at Switzerland, the United Kingdom and the Netherlands as the three leading countries as far as R&D performance is concerned, while the countries that make important investment efforts in terms of their GDP, such as Japan or Israel, do not seem to obtain the desired results and need to implement targeted policy actions to encourage R&D outputs.

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EXPERT KNOWLEDGE STATUS QUO IN THE INTERNET PROVIDED PUBLIC DEBATE ON FREE TRADE AGREEMENTS. META ANALYSIS OF POLISH LITERATURE

Author(s): Bogna Gawrońska-Nowak,Krzysztof Beck,Paul Valdivieso / Language(s): English Issue: 1/2019

Recently the Free Trade Agreements (FTAs) have been drawing public attention enormously being affected by new waves of political populism, alter-globalisation, and some other tendencies redefining the patterns in the world economic ties. From the European perspective, the Comprehensive Economic and Trade Agreement (CETA), and the Transatlantic Trade and Investment Partnership (TTIP) have brought “on board” serious public concerns about environmental protection, food quality, job security, and citizen rights. Donald Trump openly criticizes the North American Free Trade Agreement (NAFTA) calling it “the single worst trade deal ever approved in this [US] country”. The main purpose of this paper is to define expert views on FTAs in a measurable way. We want to capture the expert dissemination effect in Polish language Internet sources. Defining a mismatch between social perception and expert knowledge is the main aim of our research project on “Social expectations concerning FTAs: perception versus reality”, to which this paper, as we believe can contribute, at the same time contributing into diagnosing and analysing actual public debate on FTAs in Poland.

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POVERTY ALLEVIATION IN THE CONTEX OF FISCAL DECENTRALIZATION IN INDONESIA

Author(s): Nursini Nursini,. Tawakkal / Language(s): English Issue: 1/2019

Acceleration of poverty reduction in Indonesia is largely determined by the role of regional governments in implementing fiscal decentralization. Three indicators of fiscal decentralization were used to measure their effects on poverty reduction, i.e., regional government expenditures, regional government revenues, and intergovernmental transfers. This study investigated the panel data regression models for 33 provinces in Indonesia during 2010-2016. The results show that regional government revenues and intergovernmental transfers had a statistically significant effect on reducing poverty while regional government expenditures did not. This study confirms that in the context of fiscal decentralization in Indonesia, the increase of regional government revenues both from own source revenues and intergovernmental transfers appear to be more effective in encouraging poverty reduction than the increase of the total regional government expenditures. Therefore, it is very important for policymakers at the regional level to encourage the increase of regional revenues in order to create enough fiscal space to fund poverty alleviation programs on the one hand. On the other hand, it is necessary to increase the proportion of regional government expenditures to priority programs for poverty alleviation more than regional government operational expenditures.

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THE IMPACT OF INVESTMENT SUPPORT ON LABOUR PRODUCTIVITY IN LITHUANIAN FAMILY FARMS: A PROPENSITY SCORE MATCHING APPROACH

Author(s): Virginia Namiotko,Aistė Galnaitytė,Tomas Baležentis,Peng Wang / Language(s): English Issue: 1/2019

The aim of this paper is to assess the impact of investment support on labour productivity in Lithuanian family farms. This issue is of particular importance when appraising whether the investment support has had the anticipated effects. Propensity score matching is employed to quantify the average treatment effect on the treated farms. The research is based on panel data from the Farm Accountancy Data Network covering the period of 2007– 2012. The results show that Lithuanian farmers’ participation in investment measures did not result in labour productivity gains. These results provide guidance for policy makers with regards to decisions on investment support measures beyond 2020.

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COMPETITIVENESS OF HIGH-TECH SECTORS IN THE EUROPEAN UNION: A COMPARATIVE STUDY

Author(s): Mirosława Braja,Agata Gemzik-Salwach / Language(s): English Issue: 2/2019

In the 20th century the idea of competitiveness flourished and became one of the most popular buzzwords in economic debate, both among researchers and economic practitioners. Cutting-edge technologies and various innovations of today are perceived as the major factors of economic success, either on macro or microlevel. This paper aims at examining the relationship between R&D expenditures and export performance in high-tech sectors and the competitive advantages in these sectors in 16 European Union countries. In most of the analysed countries, the research found a dependence between the scale of R&D expenditures and the countries’ export performance in the high-technology sectors. To achieve the predefined research objective, the authors used the correlation coefficients. The results of the study proved that R&D expenditures are strictly correlated with export performance of the examined countries. Moreover, the correlation between R&D expenditures and the Balassa RCA index confirms that the R&D expenditures in the high-tech are correlated with the competitive advantages in the Balassa meaning. The results of the performed analysis are largely consistent with theoretical and empirical literature economies’ competitiveness and the impact of R&D expenditures and innovations.

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THE EFFECT OF NEW CORPORATE ACCOUNTING REGIME ON EARNINGS MANAGEMENT: EVIDENCE FROM VIETNAM

Author(s): Trang Cam Hoang,Dempsey Michael Joseph / Language(s): English Issue: 1/2019

Following the mandatory adoption of new corporate accounting rules that bring Vietnamese accounting standards closer to the International Financial Reporting Standards (IFRS), this study examines the impact of these new rules on earnings management of Vietnamese listed firms. The study avails of financial statement figures during pre-adoption and post-adoption of the new corporate accounting regime (as of January 1, 2015) for the top-100 listed firms in Vietnam. The findings suggest there has been an improvement in earnings quality since listed firms moved to the new accounting regime.

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ACCOUNTING INFORMATION SYSTEM CHANGE IN AN AGRICULTURE COMPANY: EXAMINATION USING BURNS AND SCAPENS FRAMEWORK

Author(s): Kamaruzzaman Muhammad,Nor’Azam Mastuki,Faizah Darus,Erlane K. Ghani / Language(s): English Issue: 1/2019

This paper presents the findings of investigation on the accounting information change (AIS) in an agriculture company following the change in its business model and organisational structure due to government policy. This study adopted the Burns and Scapens’ framework that identified three dichotomies -- namely, evolutionary vs revolutionary, progressive vs regressive and formal vs informal in facilitating the understanding of change. Using an interview approach, this study found that the AIS structure has experienced a major transformation due to which the existing SAP system was upgraded and integrated with five new systems. The nature of change in the upgraded SAP is evolutionary in nature. In terms of a progressive or regressive change, the upgrading process of SAP seems to be a progressive one rather than regressive. Finally, the company adopted the top down approach, which is an indication that the company has adopted a formal change. Several strategic allocations such as sufficient resources and funds, the use of external and internal experts, top management participation and also education and training were provided to ensure the success of AIS change. The findings of this study can serve as a guideline for business practices and also contribute to academic knowledge and literature.

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GLOBAL DOMINANTS OF CHINESE TRADE POLICY DEVELOPMENT: OPPORTUNITIES AND THREATS FOR COOPERATION WITH UKRAINE

Author(s): Agota Giedrė Raišienė,Olha Yatsenko,Vitalii Nitsenko,Nataliia Karasova,Anna Vojtovicova / Language(s): English Issue: 1/2019

Growth of PRC’s influence as a leading trade country has consequences for its trading partners; at the same time, over the past years China has become one of Ukraine’s major trading partners. Studying current specificities of the countries’ bilateral trade, opportunities and threats relating to it, developmental perspectives of trade-economic cooperation between Ukraine and PRC therefore certainly warrants further research. This article’s aim is to study specificities of trade-economic cooperation between Ukraine and PRC; to ascertain dependence between national economic growth and the export to China; and to define strategic tasks of the countries’ cooperation for the time period until 2030. The main factors which influence strategic development of partner economic relations between Ukraine and China are determined on the basis of SWOT-analysis. A significance of China as a trade partner of Ukraine is defined and institutional basis for their trade relations is described. Direct dependence between trade turnover and gross domestic product of the countries is determined on the basis of modeled data using empiric gravitation model tools. Prospective directions of trade-economic relations are defined.

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ENDOGENEITY OF MONEY: THE CASE OF СZECH REPUBLIC

Author(s): Liběna Černohorská / Language(s): English Issue: 4/2018

The goal of this paper is to specify the trends of money supply in Czech Republic. This will allow us evaluate the current approach taken by the Czech National Bank in its monetary policy. To determine money’s endogeneity, we have analyzed time series for the M3 monetary aggregate, the monetary base, GDP, and loans. As part of the analysis, we have worked with quarterly data from the 1st quarter of 1996 to the 2nd quarter of 2017. We determined the optimal lag time for the time series using the Hannan-Quinn information criterion. Next, we have analyzed the stationarity of the time series using the Dickey-Fuller test. We have further tested the stationary time series with the Engle-Granger test. Testing long-term relationships using the Engle-Granger cointegration test between the money supply (expressed by the M3 monetary aggregate) and both GDP and loans, and then between the money base and loans did not confirm long-term relationships between the values examined. Therefore, we can consider the money supply in Czech Republic to be endogenous. Two-way causal relationships between M3 and both GDP and loans as well as between the monetary base and loans was confirmed using the results of Granger causality testing as a basis.

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СОЦИАЛЬНЫЙ КАПИТАЛ БИЗНЕСА В УСЛОВИЯХ ГИБРИДНОЙ ВОЙНЫ: ПОНЯТИЕ, СОСТАВЛЯЮЩИЕ, ФУНКЦИИ

Author(s): Iryna Zhyhlei,Dmytro Zakharov / Language(s): Russian Issue: 1/2019

The main approaches to the definition of the category “social capital” in the historical context are considered. Elements of social capital (social norms, social network, trust) have been defined as well as its main functions have been identified, which were formed during the evolution of this concept. The influence of the hybrid war on the formation of social capital in the context of public trust in business structures in Ukraine is determined. The role of social networks as a source of creation, accumulation and restoration of social capital has been investigated. The importance of the existence of network links that affect the socialization of society and the expansion of its communicative borders in the conditions of the development of modern socio-economic relations has been noted.

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DIVERSIFICATION OF THE ECONOMIC POTENTIAL OF HOUSEHOLDS IN PROVINCES OF POLAND

Author(s): Małgorzata Grzywińska-Rąpca / Language(s): English Issue: 3/2018

Household disposable income, although it is not the only measure of quality of life and standard of living, is a key factor affecting the level and structure of consumption. Regional differences related to the economic situation of households were evaluated with the use of data describing the level of household disposable income per person, wages and disposable income. Although GDP can be only indirectly identified with the economic potential of households, the study also included disposable income per capita and the GDP achieved by administrative units. Based on descriptive characteristics of variables assumed for the analysis, the method of k-means was applied to group objects (provinces). The aim of the paper is to group the provinces based on the variables assumed for the analysis. The applied method of multidimensional analysis made it possible to group provinces into segments. Each of the segments contains provinces that are most similar to each other in terms of features assumed for the analysis. The presented results permit us to draw the indirect conclusion that in provinces with higher GDP per capita, the population acquires higher income and, consequently, consumption expenditures make up a smaller portion of the obtained income.

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INNOVATIVENESS OF POLAND AND POLISH REGIONS AGAINST THE BACKGROUND OF OTHER EUROPEAN UNION COUNTRIES

Author(s): Irena Ozimek,Julita Szlachciuk,Agnieszka Bobola / Language(s): English Issue: 3/2018

The aim of the study is to analyse the diversity of the innovation scale of particular voivodships in Poland as well as to present Poland’s innovativeness in comparison to other countries. The authors of this paper have carried out scientific studies and analyses, taking into consideration the data for 2010–2017, published, among others, by Central Statistical Office (Główny Urząd Statystyczny), the European Commission and the Patent Office of the Republic of Poland (Urząd Patentowy Rzeczypospolitej Polskiej). The scope of the analyses concerned the innovative activities of Poland against the background of other countries, in particular, the European Union Member States as well as the diversification of the innovative activity of entrepreneurs conducting business activity in particular voivodships in Poland. It should be noted that there is a significant regional differentation in this respect.

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