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"16+1" Format - Role in Geopolitical Strategy of PRC

Author(s): Nako R. Stefanov / Language(s): English Issue: 1/2018

In the latest years the “16+1” Format is becoming more and more important for the Central and Eastern Europe countries. Although at the very beginning the format “16+1” has not been considered an important initiative from geopolitical and even from economic point of view at the background of “One Belt One Road” (OBOR) Geostrategic Strategy it began to acquire the features of geo-strategic scheme. The current progress within the “16+1” Format has exposed the challenges China is facing in its attempt to shape a concrete framework for cooperation on OBOR. Brussels is concerned about China cooperation with the CEE countries. This suspicion hinders cooperation between China and the CEE countries. Such cold war mentality needs proactively respond.

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"Employee of the Month" in Romania: a Study on Perceptions

Author(s): Sabina Irimie,Bianca Armean / Language(s): English Issue: 5/2012

An important and complex problem of labor economics in general and of human resource management in particular, is to effectively motivate employees. At the current juncture, under the spectrum of economic crisis, the controversies of theoretical and practical interest such as the importance of the money, the relationship between motivation, satisfaction and performance at work, are more pronounced and more focused on non-financial forms of motivation. At least in part, this is because the usual ways of saving costs in today's organizations seem to aim primarily the expenses on staff (wages, rewards, training funds and so on). In this context, the paper aims to highlight the perceptions of employees on the program "Employee of the Month", as it was implemented in a Romanian organization (in a hybrid approach, combining monetary rewards and recognition awards specific to most common forms of program). Thus, the main results of our study reflect the opinions of people involved in this program, and allow us to sketch some possible changes based on the feedback from employees, in order to further improve the effectiveness of the program.

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"L’économie du bon plaisir". Wpływ myśli etatystycznej na organizację życia administracyjno-ekonomicznego Śląska doby habsburskiej (1526-1740)

Author(s): Jarosław Kuczer / Language(s): Polish Issue: 7/2017

In many human sciences, especially political science and economics (and cultural research) there exist many analyses of the impact of statism (etatism) on the functioning of societies. The aim of this article is to show and highlight contemporary phenomena of this doctrine, through inquiry into their origins and character, treated – especially by Austrian and British researchers – as unchangeable. Why Silesia? Why 1526-1740? Several constants existed there. Firstly, it was a province of the Holy Roman Empire of the German Nation, treated in the studies of the history of the rights as state par excellence. Secondly, in the abovementioned period, it was the farthest from, among others, Europe's easternmost economic structure which underwent statist policies modeled on French achievements. Thirdly, Silesia was the last in Europe, and so it was seen as "the most perfect", in practice it was a well worked out and well distorted, form. The article analyzes the issues of the organization and development of central public administration structures and their impact on economic statism, according to the scheme:1. Ideological basis of statism in Silesia,2. Implementation through the creation of central offices,3. The taking of the highest economic offices by the Emperor’s adherents,4. Giving the greatest land fortunes to people involved in the politics of Vienna Court,5. News from the fiscal policy agenda,6. Economic basis of the creation a new social order/hierarchy.Such a system is related to the value of chronological changes.When conducting an explanation, it proved to be the best to use synchronic, genetic, philological, evolutionary and sociological methods and elements of comparative, progressive and retrogressive and argumentum ex silentio methods as well.

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"Municipal settlements of Ukraine" database and its possible application spheres

Author(s): Glibchuk Petro Volodymyrovych / Language(s): English Issue: 34/2016

With the development of geoinformation technologies and geoinformation mapping the sphere of activity of professional geographers and cartographers has been enriched by a wide application of databases (DB). They enable geographical information to be put in order in a user-friendly system. The article considers the methodological aspects of the organizations and creation of such a system - the "Municipal settlements of Ukraine" databases. The basic stages and databases forming the principles which the author designated during the creation of this specific database are highlighted. The DB structure is revealed - the list of the data included in every table is given. The ways of DB applications are determined; they consist in using DB for the creation of various cartographic studies and reference books about the municipal settlements in Ukraine. The prospects of DB development and perfection are considered.

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"Push" and "Pull" Systems in Supply Chain Management. Correlative Approaches in the Military Field

Author(s): Gheorghe Minculete,Polixenia Olar / Language(s): English Issue: 2/2016

The increase in economic, social and security risks is currently determined by the resource crisis on the one hand, as well as by the economic competition and global military challenges on the other hand, which amplifies instability and jeopardizes the viability of inter-state relations at global level. In these circumstances, the complexity of the economic and military environments determines company managers and military leaders to act by way of “push” and “pull” systems in order to make their own logistic activities more effective, in view of attaining their projected strategic objectives. In the current article we try to briefly address the “push” and “pull”systems within the Supply Chain Management, setting off from the concrete demands of consumers/users in the economic and military fields.

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"Riževi standard proti mesnemu standardu" (Elementi stereotipa o japonskem gospodarstvu pri Slovencih pred drugo svetovno vojno)

Author(s): Žarko Lazarević / Language(s): Slovenian Issue: 2/2000

The stereotype image of the Japanese economy created by the Slovenian press before the Second World War was not based on its own experience, but was assumed from the western European press. This is understandable, given the very small trade exchange between the two countries at the time. This stereotype included elements, such as social and foreign-exchange dumping, a patriarchal system, a better organised and more efficient economy, and unfair competition.

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"Second curve" concept as a key driver of economic development in the emerging markets

Author(s): Anđelko Lojpur,Ivan Radević,Nikola Martinović / Language(s): English Issue: Spec/2021

The paper begins with the understanding that the three-decade-long transition period from a socialist economy to the market one, as an integral part of comprehensive changes in Eastern Europe, both political and ideological ones, remains to be a quite problematic and ongoing process. When it comes to less-developed or transition countries, with a special focus on the Western Balkans, a popular opinion is that the impact of deindustrialization on countries in transition was as painful and radical as the "coming" of socialism. Therefore, when addressing the need for a new formula for development, it is a matter of great concern that today's multipolar world lacks well-established development paradigms, particularly taking into account an obvious stagnation in reforms, i.e. the so-called reform failure. In the authors' opinion, it is possible to end the crisis in underdeveloped and transition countries only by introducing a "new" order, i.e. by finding a "new" economic development paradigm. In the light of the above, this paper indicates the need to replace the current transitional models of economic transformation with a turn-around strategy that would be based on reindustrialization, i.e. newly created industrial policies. Finally, this would imply the implementation of the “second curve“(the “S-curve”) concept in the change management processes.

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"Stumbling and Dusting Off," or an Attempt to Pick a Path Through the Thicket of Bulgaria's New Economic Mechanism

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"Stumbling and Dusting Off," or an Attempt to Pick a Path Through the Thicket of Bulgaria's New Economic Mechanism

Author(s): Richard J. Crampton / Language(s): English Issue: 02/1988

The most persistent theme in Bulgarian public life during the 1980s has been the attempt to remodel and improve the national economy in accordance with the New Economic Mechanism, the NEM, which itself has been inseparable from "the scientific-technological revolution. " Economic innovation and experimentation are not new to Bulgaria. Previous attempts, however, have generally failed to live up to expectations, often degenerating into confusing and sometimes contradictory administrative changes before being abandoned in favor of a return to the comforts and certainties of a centralized, Soviet-style, command economy. [...]

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"Лошите кредити": институционални и финансови аспекти, 1994

Author(s): Christina Vutcheva / Language(s): Bulgarian

Since the beginning of 1991 Bulgaria has been living through a period of transition from centralized totalitarian control to free market economy. Year 1990 can be said to mark the political liberation of the people with the adoption of the new Constitution. The economic liberalization, however, is a reality yet to be brought to life since private ownership is not prevalent in the economy. The prime aim of the transition is to substitute an absurd and inefficient economic system for a new one to rely on the free initiative, private ownership and competition.

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#mission2030: Austria’s Strategy for a Low-Carbon Transformation

Author(s): Łukasz Ogrodnik,Marek Wąsiński / Language(s): English

The Austrian government is implementing its energy and climate strategy to 2030, the aim of which is to stimulate the economy and achieve energy independence through the use of clean technologies. The strategy signals potential points of contention with Poland, including in nuclear and coal energy. At the same time, it indicates potential fields of cooperation regarding low-emission transport.

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A DESCRIPTIVE REVIEW OF STRUCTURAL AND QUALITATIVE CHARACTERISTICS IN GREEK INDUSTRY

Author(s): Konstantinos Goulas / Language(s): English Issue: 1/2022

According to the majority of the Greek economic researchers, the big recession in Greece as well as other Southern European countries came as a result of the former choice of policies. Following this opinion, governing strategies adopted within the last decades and the historical context led to the deindustrialization of the Greek economy. As a consequence, an unsustainable social development in the future was created. Moreover, factors such as the quantity and the size of businesses, the technology used, and investments are described in correlation to the country’s current inferior state. Furthermore, the basic argument that comes from the findings of this review is that new policies and institutional strategies need to be adopted in the Greek industrial sector. Undoubtedly, the demand for the change of these policies in accordance with new planning on productivity will enhance the developing role of the Greek industrial sector.

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A new institutional approach to the study of the Soviet-type economy

Author(s): Tamara TODOROVA,Aleksandar Vasilev / Language(s): English Issue: 1/2022

The paper analyses the transaction cost of economizing and efficiency-enhancing effects of the Soviet-type economy. The last 30 years of transition have seen the failure of market reforms in many industries in what are traditionally non-market economies. We argue that centralized, command-and-control systems are wealth maximizing in the conditions of persistent transactional and behavioural failures. With its centralism, strict hierarchy, and monopoly over information, the Soviet-type economy was able to produce significant output. We emphasize the role of centralism in coordinating economic activities, curbing opportunism, and facilitating information flow. In highly opportunistic societies where the transaction costs of market operation are significant, centralized systems are more efficient than decentralized, democratic systems based on free-market rules.

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A Review of the Monograph by T. Pimonenko, O. Lyulyov, N. Letunovska "Circular and Carbon-Free Economy: The Roadmap for Harmonizing National and European Standards for Energy Market"

Author(s): Jelena Titko / Language(s): English Issue: 3/2021

Circular and carbon-neutral economic development are the topical areas of implementing the climate strategy in many countries. According to these concepts, the main basis for economic development is the growth of the renewable energy share in the structure of energy consumption. The fact that Ukraine has announced that in the future its evolution will be determined by the European integration vector of development means that a prerequisite for the transition to the next steps of development is the synchronization of the national energy policy in accordance with the strategic guidelines of the European region. To develop an effective roadmap for harmonising Ukrainian and European standards of energy market regulation, it is advisable to analyse the experience of implementing energy efficiency practices in the policies of other countries in the European region. The authors forecast the structure of energy production from renewable sources, based on empirical calculations. The development and implementation of modernized mechanisms for regulating the energy market in European countries is a prerequisite for the successful adaptation of the Ukrainian energy sector and the introduction of effective approaches to the management of local businesses and all industries that depend on energy resources.

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A Review of the Monograph by Yu.M. Kharazishvili “Systemic Security of Sustainable Development: Evaluation Tools, Reserves and Strategic Implementation Scenarios”

Author(s): Aleksy Kwilinski / Language(s): English Issue: 4/2021

The monograph proposes a modern concept of sustainable development from the standpoint of security, which contains a general systematic idea of ways to move from the current position of the object of management to the desired. The necessity to adhere to the limits of safe existence of dynamic economic systems, which connects the problem of sustainable development with the problem of security, is substantiated. The presented concept is based on the methodology of identification and strategy of sustainable development from the standpoint of security and adaptive methods of regulation of management theory for the scientific justification of strategic planning in the medium and long term. It is proposed to take into account the shadow indicators in the components of sustainable development to reveal the adequacy of the real state of the economy using the developed method of its assessment and de-shadowing. The violation of the generality of macroeconomic identity of GDP by the end-use method at the regional level is proved and on this basis the method of determining the shadow net export due to violations at customs and in interregional movement of goods and services is proposed. Possibilities of application of the stated approaches at different levels of economic activity are shown. The dual role of the shadow economy is revealed: as obstacles to sustainable development and as a significant reserve for modernization and growth of Ukraine's economy.

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About the Governance Efficiency of Agricultural Farms. The Case of Bulgaria

Author(s): Hrabrin Bachev / Language(s): English Issue: 75/2022

The New Institutional Economics framework is incorporated and a practical approach for assessing the level and factors of governance efficiency of Bulgarian farms suggested. The evaluation is made on the basis of original micro-data collected by the managers of typical farms of different type and location. The "Nature of the problems in effective organization for major class farm transactions for securing needed factors of production and output marketing" is used as an indicator for the comparative efficiency and adaptability of individual farms. The study found that the governance efficiency of farms is at a Good level but 60% of all holdings are with a Low efficiency. Major factors for inferior governance efficiency of farms are unsatisfactory efficiency in supply of necessary labor, innovations and know-how, and funding. There is a huge variation in the level and factors of governance efficiency of farms with different juridical types and sizes as well as in the share of farms with different levels of efficiency in each group. A strong correlation is found between the level of governance efficiency of farms, and diverse critical internal and external market, technological, institutional, personal, etc. factors. There is a big discrepancy between the “new” assessment of Governance efficiency with dominating traditional approaches for farm efficiency assessments based on factors' productivity. There was an improvement in the overall governance efficiency of farms during 2016-2020 but the share of efficient farms significantly declined during the period.

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ALIGNMENT OF CIRCULAR ECONOMY BUSINESS MODELS FOR FRAMING NATIONAL SUSTAINABLE ECONOMIC DEVELOPMENT

Author(s): Dzintra Atstaja,Natalija Cudecka-Purina,Raisa Hrinchenko,Viktor Koval,Janis Grasis,Rudite Vesere / Language(s): English Issue: 42/2022

Circular economy offers opportunities to boost jobs and tackle climate change. The article reflects aspects of the impact on the environment through sectoral policies to support the circular economy because current business as usual model, based on the linear economy principle leads to a staggering inefficiency in nature resources are managed, with increased pollution, loss of ecosystems and substantial losses of value with each product disposed. This requires a change not only in consumer behaviour but even more on the resource extraction and material production side. The purpose of the research paper is to develop a decision-making matrix providing a step-by-step approach for the policymakers.

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An Analysis of the Liberalization Process of Gas Market for Household Consumers in Romania

Author(s): Alexandra Cătălina NEDELCU,Mihail Buşu / Language(s): English Issue: 2/2022

In this paper, the authors are making an analysis of the liberalization process of the Gas Market for the household consumers in Romania, based on the data collected from the natural gas suppliers as well as from the Romanian Energy Regulatory Authority in the field Energy (ANRE). The authors are analyzing the pre- and post-liberalization situation for household consumers, illustrated in terms of some basic indicators, namely the number of household customers from the regulated and competitive supply segment, the number of suppliers with domestic gas customers, the shares held by suppliers with domestic gas customers, as well as the number of present suppliers with natural gas offers. There were also identified clauses that lead to cost increase for the customer in case of change of supplier. The conclusions underline the fact that the process of liberalizing the supply of natural gas to the household has not had a significant impact on final customers, but it is rather a combination of other factors, such as: the low prices during the hot season may not induce a particular appetite for switching the current supplier, the natural gas offers made at the beginning of the liberalization process may not have been attractive enough to determine the change of the current natural gas supplier, and the low level of information provided by the gas suppliers. Our recommendations are that the suppliers should provide unique terms and conditions for their customers, and to present their offers in a clear, transparent, and concise manner.

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An Analytical Assessment of the Determinants of Exchange Rate: An Empirical Evidence from Nigeria

Author(s): Olajide Clement Jongbo / Language(s): English Issue: 1/2022

The study utilised econometric techniques as data analysis technique and it is indicated that there is no significant relationship between real terms of trade and real exchange rate in Nigeria; there is no significant relationship between real trade restrictions and real exchange rate in Nigeria; there is no significant relationship between technological progress and real exchange rate in Nigeria. However, it is dem onstrated that ther e is a significant relationship between real government expenditure and real exchange rate in Nigeria and there is a significant relationship between nominal exchange rate and real exchange rate in Nigeria. Therefore, the study concluded that, at the long run level, the real variables alone that influences real exchange rate in Nigeria were insignificant. However, real exchange rate in Nigeria was determined by both real and nominal variables are the core fundamentals that determined real exchange rate in Nigeria mostly in the short run. It is therefore recommended that there is need for the monetary authority in Nigeria to create enabling environment that will encourage and attract international trade activities by investing in the infrastructure of the nation.

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An Assessment of Institutional Improvements in Romania and Bulgaria Following EU Accession

Author(s): Dragoș Dinca / Language(s): English Issue: 2/2022

The purpose of this paper is to analyse to what extent accession to the European Union affected the quality of institutions in Romania and Bulgaria. In order to measure these effects, indicators of perceived corruption have been built based on data from the Life in Transition surveys I, II, III, conducted by the European Bank of Reconstruction and Development. Under the specifications of a difference-in-differences methodology, evidence of a reduction in small acts of corruption has been discovered for both countries, with larger effects in Bulgaria. In regards to high level corruption, Romania proved to be successful in tackling this dimension nine years after the accession, while for Bulgaria the evidence suggests an unfavourable deterioration over time.

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AN ASSESSMENT OF THE CHARACTERISTICS OF THE FISCAL POLICY IN RELATION TO THE FLIGHTS OF THE ECONOMIC CYCLE IN ROMANIA, IN THE PERIOD 2007 - 2020

Author(s): Ionel Leonida / Language(s): English Issue: 4/2021

In the proposed paper we make an assessment of some features of fiscal policy in relation to the evolution of the economic cycle, which aims to capture the discretionary nature of fiscal policy and how it has contributed to stimulating or inhibiting the economy and the type of fiscal policy that has functioned during this period in the Romanian economy, from the perspective of the stabilizing function of the economic cycle. The indicators from which we start in the elaboration of the analysis are the budget deficit and the structural deficit, from which we will extract certain derived indicators. The methodology used to achieve the objective is qualitative in nature and aims to draw links between the stated aspects. The obtained results can be constituted in elements of qualitative evaluation of the fiscal policy from the perspective of its influence on the economic cycle.

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