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The focus of this paper is to provide a model for indexing the innovation activity of the companies at national (macro level) and regional level (micro level in two regions), depending on their sectoral affiliation (under NACE) and establishing inconsistencies analysis) to the already identified priority thematic areas at the end of the implementation period of the Integrated Intelligent Specialization Strategy (ISIS). The presented model will serve to correct the existing or validate new priority thematic areas for the post-2021 period and will present criteria for new (for the next programming period) compliance of the fields both with the specifics of the circular economy and with the expected new in territorial aspect planning regions in the Republic of Bulgaria. The research objectives, met are on a desk research of the existing models for assessing the innovation activity of the companies and in particular the activity towards the principles of the circular economy will be made, and on a field research of some 150 business units from the Southwest and South-Eastern regions in Bulgaria, surveyed on the basis of their behavior and behavioral and management decisions of their owners / managers.
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The aim of the article is an attempt to assess the condition of the transport sector in EU countries. The analysis focused on the assessment of the importance of this sector in the national economy, also in the context of job creation. The differentiation of selected parameters describing the productivity of the transport sector at the level of the economies of the EU Member States was assessed. The specificity of this process was assessed in the context of differences between the countries of the "old" and "new" Union. The convergence processes taking place in this area within a group of EU countries were analyzed.
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SMEs play a very important role in each country's economy. Therefore, it is vital to participate in innovation activities and to examine the internal and external obstacles they encounter during the innovation process. This paper presents examination of some of the results from a survey, conducted with 150 companies in Bulgaria and related to their innovation culture, attitudes and perceptions, as well as their activities, including investments. The obtained results could be used for SME investors’ framework development using classification and clustering methodologies.
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The report presents summarized statistical data on research and development (R&D) in the period 2000-2018 in the Republic of Bulgaria. Summary data are presented graphically by various criteria - statistical regions, districts and municipalities, by size of enterprises, by sources of funding, by fields of science and by types of expenditures. Data on the employment of staff by gender in categories, staff engaged in R&D, by sectors, by statistical regions, by fields of science, by level of education, staff engaged in R&D - general and researchers are presented. A sample is also presented for researchers by age groups and gender in the public sector and the higher education sector, by size of enterprises, as well as for budget expenditures for R&D for socio-economic purposes. The data are analyzed, and conclusions are made about the development trends of research and development in the study period. An analysis, comments and conclusions have been made regarding the distribution of R&D investments in the country. The main conclusion is that the expenditures for research and development in the studied period increase but remain strongly unbalanced and are among the lowest in the EU in relation to the size of the national economy and the gross domestic product of Bulgaria.
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The report is dedicated to the emerging challenges facing the municipalities on the Bulgarian Black Sea coast. A general demographic situation is outlined. The purpose of the presentation is to derive the possibilities for the assessment and analysis of the achieved regional model of functioning. The exhibition presents both deficits and peculiarities of the regional development of these municipalities. An attempt has been made to derive a more comprehensive assessment of the socio-economic and territorial potential of these municipalities, in line with their investment needs and opportunities for regional business development and improvement of human capital in them. Regional development policies have been proposed to promote their regional development, as well as to initiate a debate on the issues of public administration, strategic development such as infrastructure networks and urban areas within the national and European economic space.
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Big cities of Poland have been chosen as investment locations by many companies operating in business sector services. The relatively low cost of skilled labour seems to be their main advantage in this field. However, Polish destinations do not have the absolute labour cost advantage over many other locations, especially those in Asia. Therefore, attracting more demanding advanced business processes becomes a challenge to Polish cities today. Thus, the aim of the paper is to assess the potential of these cities in attracting more advanced business processes, which include, among others, R&D. To attain this goal, synthetic measure based on Hellwig’s development pattern was created. The variables used are rooted in the findings from the review of the literature. The results show that the biggest academic city areas of Poland offer the greatest potential to attract advanced business services.
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The article is dedicated to socio-economic needs of the population by increasing the share of environmentally friendly and renewable energy sources in the energy supply of Azerbaijan in modern conditions. As a matter of fact, it has large reserves of fuel energy. However, in recent years, the Republic of Azerbaijan, like most countries around the world, is attracting new energy sources to the fuel and energy balance. It is shown that the involvement of alternative energy sources in the production of electricity and heat using the natural potential of the Republic provides a basis for determining the future directions of development of electricity. The measures taken to expand the "green" economy are of great importance in order to achieve sustainable development in the world against the background of environmental pollution, declining natural resources and growing demand. The article analyzes the tasks set for the application of environmentally friendly technologies, the promotion of waste recycling and the restoration of contaminated areas, the expansion of the use of environmentally friendly "green" technologies. It was concluded that the favorable geographical location and climatic conditions allow the widespread use of environmentally friendly alternative energy sources in Azerbaijan.
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Sustainable development is an important economic problem facing society. The prospect of increasing high-tech industries in the economy is based on changes and innovations in the expansion of scientific research. The purpose of the thesis is to develop scientifically based recommendations for the transition to sustainable development in the liberated territories of the republic. Generalization, observation and grouping, economic-mathematical, comparative analysis, systematic and statistical analysis methods were used in the research process. Information for research was selected from the scientific works of leading local and international scientists in the economy, newspaper and magazine articles, general economic literature on the topic relevant to the field of research. Due to the liberation of the territories of the Republic of Azerbaijan 2 years before the Armenian occupation, there were a number of restrictions on the research due to the lack of practical information. The proposals here are the basis for the implementation of economic measures by the state. The results can be used in the preparation of priority areas for economic development of the liberated territories, in the practice of government agencies, regional reform programs in the country.
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The main purpose of the article is to study the impact of indirect taxes on economic growth in the Republic of Azerbaijan. The research was carried out on the basis of research methods such as comparative analysis, systematic approach, logical generalization, correlation analysis. The study provides a classification of tax systems based on the ratio of indirect and direct taxes on tax revenues, and examines and analyzes the relationship between indirect taxes and the level of economic growth in the Republic of Azerbaijan. The limitations of the study were the difficulties in obtaining more practical information. As a result of the study, proposals were developed to assess the impact of indirect taxes on economic growth in the Republic of Azerbaijan. The practical significance of the research is to assess the impact of indirect taxes on economic growth in the Republic of Azerbaijan and to develop practical proposals based on the results obtained.
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The author specifies some major anti-pandemic measures of the Kazakh government. It examines the impact of the Covid-19 pandemic on the financial industry of the Republic of Kazakhstan. The emphasis is placed on the application of the combined approach „top-down“ – „bottom-up“ in the stress testing of 14 financial institutions to assess the quality of assets. Several vital results from the pandemic stress testing are presented in the attached diagrams with numbers 4, 5 and 6. At the end have been outlined a few of the author’s conclusions.
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In modern times, tourism is always in the spotlight in various countries around the world as a dynamically developing and profitable sector of the economy. The development of tourism through the multiplier effect stimulates the development of hospitality, catering, trade, transport and other areas. There are favorable economic and geographical conditions for the development of tourism in Azerbaijan, but this sector has not yet reached the required level of development. Thus, the revenues generated in the field of tourism and travel have a positive impact on the economic, social and governance process of the country, as they are an integral part of the income of the state, population and entrepreneurs. In this regard, the policy pursued by our state, the adopted programs are aimed at the development of this area, increasing the share of tourism in the national economy. One of the main strategic goals facing our country today is the restoration and development of the liberated territories. One of the directions to achieve this goal is the development of tourism in the economic regions of Karabakh and East Zangazur. The article examines the development of tourism in the liberated territories, puts forward a number of proposals for the creation of tourism brands and tourism clusters.
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Today, tourism is one of the main directions in increasing the economic power of the country. That is why it is necessary to develop tourism in the country, to find shortcomings in this area and take steps to address them. The analysis of the tourism sector in the Karabakh economic zone, along with many other regions in our country, is one of the interesting research topics. Karabakh, which survived the 44-day war in 2020 and was liberated 30 years later, is not only in the world's spotlight, but is also rich in underground and surface resources. Today, Karabakh has become the subject of research as the most popular tourist region of Azerbaijan. According to the State Tourism Agency, a new tourism strategy will be developed by 2030. The construction of Karabakh's infrastructure has already begun. It should be noted that the development of tourism in Karabakh will also be a means of economic revival. Each of these is a testament to the importance of the subject. Although a lot of research has been conducted on the creation and development of tourism in Azerbaijan, we will study this topic on the example of Karabakh.
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The spread of the COVID-19 pandemic has seriously affected the economy of Azerbaijan, as in many countries. A number of areas in our country have been partially or completely restricted, and foreign travel and foreign trade relations have weakened. It should be noted that as a result of the restrictions, there is a deferred demand in the market, and the volume of this demand is quite large. In this case, tourism companies that pursue a more flexible policy can win. To stay competitive, companies in the sector need to adapt quickly to changing demands, and develop technology projects and digitalization in the tourism sector. The main limitation in the study was partly due to methodological shortcomings. The main purpose of the research is to study how the tourism sector is managed in the current situation and how this field is progressing in the current situation. Several methods were used in the research of the research work - analysis, synthesis, as well as economic-comparative analysis, generalization, graph-statistical, induction deduction methods. The scientific novelty of the research is in determining the directions of revival and development of the tourism sector of Azerbaijan in the current pandemic.
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The presence of many healing water sources, volcanic muds, healing muds of salt lakes, healing mud oils in Azerbaijan shows how favorable the conditions are for health tourism in country. Azerbaijan, which gained its independence, took its place in this change. Azerbaijan, which gained its independence, took its place in change. After the collapse of the Soviet Union, the tourism sector, like all other sectors in the country, has changed. However, this change can be considered positive for the tourism sector. On the other hand, Azerbaijan's possession of high-relief areas such as the Greater Caucasus, Lesser Caucasus and Talysh Mountains has provided high potential in terms of mountain and hunting tourism. Many regions and districts of Azerbaijan have very important features in terms of tourism potential. In particular, the northern part of the Absheron Peninsula and the shores of the Caspian Sea, as well as Guba-Khachmaz, Lankaran plain, Central and Western regions have a higher tourism potential. Their main features are listed below. As can be seen, tourism activities in Azerbaijan are quite diverse. However, the important thing is to use this diversity effectively and turn it into a sector that can make a significant contribution to the country's economy.
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This study investigates symmetric, asymmetric, and structural models of exchange rate pass-through to inflation in Nigeria over the monthly period of 2000: Month 01-2021: Month 05. The percentage change in the price of import-competing goods (tradedgoods) that is ascribed to a particular percentage change in the exchange rate (which is the price of one country’s currency in terms of another country’s currency) is referred to as exchange rate pass-through. This paper is set out to examine the impact of monetary environment in exchange rate pass-through to inflation in Nigeria using monthly time series data. The method adopted included inter-alia the use of both the Augmented Dickey-Fuller (ADF) unit root test and the Breaking point unit root test for relative comparison. The results of unit root tests from both ends indicate the existence of both stationary and non-stationary variables which made adoption of bounds cointegration test plausible and Nonlinear Autoregressive Distributed Lag(NARDL) methodologies applicable, this method allows the incorporation of possible asymmetric effects of positive and negative changes in explanatory variables on dependent variable unlike the conventional Autoregressive Distributed Lag (ARDL) models where the possible impact of explanatory variable changes remain unaccounted for on dependent variable. Further, the results from cointegration test confirm the existence of short-run situations among the variables of interest in all the models considered. Also, three models were estimated under the framework of linear and nonlinear Autoregressive Distributed Lag (ARDL) models. The model estimate findings revealed that inflation modeling in Nigeria is both autoregressive and adaptive in character. In the short run, pass-through estimates are larger, though declining, due to asymmetric behaviours of exchange rate changes as confirmed by Wald test. This justifies the existence of asymmetric effect in the behavour of exchange rate over times. It was also discovered that inflation is seldom a monetary occurrence in this new normalas industrial production index was found to reduce consumer prices drastically and exchange rate found to explain inflation better than money supply. However, structural policy of land border closure exerts positive but insignificant pressure on inflation in Nigeria during the period under investigation, this may be because of lag effect between the policy stance and reaction of economic agents in the economy.Finally, by policy recommendation, Nigerian government is thus advised to invest heavily in productive sectors of economy, specifically, by building capacities of local producers.
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This study examines the effect of trade policy on Nigeria economic growth and used annual data that spanned from 1983 to 2018. The Augmented Dickey-Fuller test revealed that the variables employed have mixed order of integration (i(0),i(1)). Thereafter, An Autoregressive Distributed Lag (ARDL) technique was employed because it suits the outcome of the pre estimation test. A cointegration test among the variables is conducted using theARDL bound test technique. The ARDL estimates show that adjusted trade ratio impacted positively on GDP both in the short and long run and price based variables impacted positively on GDP both in the short and long run. We computed impulse response function for the estimated ARDL model to confirm the accuracy of Bound testing result. Interestingly, the finding remained robust when the potential effect of the trade policy is accounted for using IRF. The IRF show dynamically that GDP responded positively to trade policy at a higher horizon contrary to the short run estimate thereby given more credibility to the result of the ARDL which was been transformed to IRF. The dynamic responses allow us to find out that GDP responded positively and negatively to tradepolicy but the accumulated (long run) effect is positive. The study conclude that adjusted trade ratio is procyclical while price based mechanism is countercyclical in Nigeria during the scope of study. The study suggests that the policy makers should adopt policies that can promote innovations and shut out any form of black market premium that can cause distortions.
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The article describes the impact of digital technologies on the level of social and economic development of the society, provides a rating of the largest IT companies in terms of the volume of business capitalization. The necessity of digital transformation of the management of the socio-economic development of society and organizations is substantiated. The research used groupings of economic activities that directly influence the development of the digital economy. Using the data of regression models, the coefficients of GDP elasticity from the development of the studied sectors were calculated and used to forecast GDP under the development influence of the studied sectors while maintaining the existing trends. A forecast of GDP growth in Ukraine has been constructed, taking into account the processes of digitalization of the economy in accordance with certain trends. The forecast dynamics of changes in GDP under the influence of the IT sector development until 2023 was also illustrated. The results showed that stimulating the development of information and communication technologies has significant prospects for activating digitalization processes in all spheres of the economy and society and increasing GDP.
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The modern world is characterized by a high level of interdependence between developed and developing countries. Accordingly, the importance of developing economies is also growing in the problems of banking crises. Since the 1980s, banking crises in developing countries have become much more severe than in industrialized countries. Banking crises in developing countries generate very serious negative externalities for the rest of the economies of these countries. For example, significant fiscal costs, a reduction in the scale of bank lending, a drop in the availability of bank loans, their rise in price, deterioration in the quality of financial intermediation, and difficulties for monetary policy. Research by numerous authors shows that banking crises in developing countries most often occur at a time when a boom in bank lending collides with a slowdown in output growth. The latter is strongly correlated with the type of foreign investments made in the country and the type of obligations on them. In particular, foreign direct investment and liabilities on it reduce the likelihood of banking crises, and debt liabilities due to portfolio investment increase them. The already achieved level of incorporation of developing countries into the global economic palette makes it possible for developed countries to suffer serious damage from crises, including banking crises in developing countries.
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This paper attempts to assess the size of the grey economy, and provide a decomposition by evasion type. The modelling approach utilizes a standard micro-founded general-equilibrium setup, which is augmented with a revenue-extraction mechanism and a government sector. The model is calibrated to Bulgaria after the introduction of the currency board (1999-2018). A computational experiment performed within this setup estimates that on average, the size of total evasion is a bit more than one-fourth of output, an estimate which is in line with the figures provided in both Philip (2014) and the European Commission (2014). Two-thirds of the model-predicted evasion is a combined result of income- and social security evasion, while the rest is due to VAT evasion.
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