scholarly journals „Pénzügy és gazdasági fejlődés hosszú távon” Shin, Yongseok (2018): Finance and Economic Development on the Very Long Run: A Review Essay (Journal of Economic Literature, 56(4), 1557-1586.)1

2021 ◽  
Vol 16 (1) ◽  
pp. 185-190
Author(s):  
Domonkos Bajkán
Keyword(s):  
Economic Development ◽  
Review Essay ◽  
Economic Literature ◽  
Key Factors ◽  
Main Hypothesis ◽  
Financial History ◽  
Financial Regulations ◽  
Long Run

Yongseok Shin esszéjében Goetzmann Money Changes Everything: How Finance Made Civilizations Possible című könyvéről ír bemutatót, majd a könyv hipotézisét továbbgondolva vizsgálja, vajon az egyes pénzügyi találmányok hatást gyakorolnak-e a hosszú távú gazdasági fejlődésre. Shin Goetzmann művét további gazdaságtörténelmi elemzésekkel is összeveti. Arra a következtetésre jut, hogy a pénzügyek jelenléte fontos összetevő egy jól működő gazdaságban, azonban nem lehet az egyetlen fejlődést előidéző tényező. Shin a pénzügyi történelem további alapos tanulmányozását javasolja, és azt a jelenlegi pénzügyi szektor szabályozásainak kialakítása során is hasznosnak véli. Yongseok Shin reviews Goetzmann’s book, titled Money Changes Everything: How Finance Made Civilizations Possible. He reinterprets its main hypothesis, and analyses how the presence of financial tools affect economic development in the very long run. He also compares Goetzmann’s viewpoint to other economic historians’ results. He concludes that financial advancement is certainly one of the key factors leading to a prosperous economy, but cannot be the single one. Shin argues that financial history lessons might enable us to create more adequate financial regulations.

scholarly journals Management system for agricultural enterprises competitiveness

2019 ◽  
pp. 70-78
Author(s):  
Alla Chykurkova ◽  
Maksym Gorikhovskyi
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Management System ◽  
Modern Theory ◽  
Key Factors ◽  
Agricultural Enterprises ◽  
Difficult Time ◽  
Long Run ◽  
Level Of Economic Development ◽  
Strategic Goals

Introduction. The purpose of any production is to get the most possible profits in a market economy. Therefore, they can confidently develop their production and financial activities only those enterprises that receive from it the highest economic result. Those companies that work inefficiently, with a low profitability or are generally loss-making, are not viable. Producers of low-quality products or inefficient enterprises experience the greatest difficulties. However, the most powerful firms can flourish in a difficult time, because they go to segments of the market, which previously served by competitors who were ruined. As the experience of recent years has shown, most modern enterprises are not ready for competitive struggle. One of the key factors that determined the complexity of the situation is the lack of systematic representations about competitive advantages, how to create them and with which methods to implement them. The modern theory of competition, which has many practical provisions, is a powerful scientific base for solving important problems in the system of competitiveness management. Methods. The following methods are used when conducting the study: monographic, statistical, calculation and constructive. Results. The study of the essence of the concept of competitiveness and determination of its level in the context of development of farms and ensuring the realization of their strategic goals of the activity has been carried out. The constituents of the management of the competitiveness of farms are substantiated. The results of calculating the rating of the level of economic development of farms and the grounded development strategies of the farms of the Khmelnytskyi region are presented. Discussion. Increasing the efficiency of the organization in the long run depends, first of all, on the choice and implementation of the economic development strategy. Since the competitiveness of the company depends both on its activity and on the external environment, it is necessary to allocate and analyze the factors that have a significant impact. Priority directions for improving the competitiveness of farms are the introduction of geoinformation systems, the establishment of a servicing cooperative and the union of farmers, which will become an important task of scientific research into the future. Keywords: agricultural enterprises, farms, competitiveness, management system, land resources, production, development.

scholarly journals The Problem of Choosing Development Paths

2019 ◽  
Vol 59 (1) ◽  
pp. 227-236
Author(s):  
Henryk Wnorowski
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Economic Policies ◽  
The European Union ◽  
Main Hypothesis ◽  
Long Run ◽  
Socio Economic Development ◽  
Business Entities ◽  
Development Paths ◽  
Additional Value

Abstract We start from the assumption that the main problem, and at the same time the goal, is socio-economic development. We also assume that this pursuit is universal, development is the ambition of entities at all levels of aggregation, development is a desire of each country, as well as of business entities and individuals. From the other side, the governments create conditions for entities at the microeconomic level which generate additional value, that is, contribute to the creation of this development. Peculiar to them they are developmental paths. That’s why, the main hypothesis of this article, as stating that the choice of economic policy financed by excessive public debt does not, in the long run, serve well real socio-economic development. At the beginning of the 21st century, the vast majority of these countries had serious problems with public debt. These problems already had their history and were so serious that some efforts to discipline the forum of this group appeared. It is, in a sense, natural in the sense that integration itself is heading to a high degree of coordination and to the unification of all economic policies. The picture of public finances of the European Union does not look good despite the fact that this group can boast a long history of making efforts to control and monitor the budgets of its member states. Moreover, one can even talk about a certain intensification of this process, especially with respect to the euro area countries, but we still can not say that satisfactory results have been achieved.

scholarly journals Finance and Economic Development in the Very Long Run: A Review Essay

2018 ◽  
Vol 56 (4) ◽  
pp. 1577-1586 ◽  
Author(s):  
Yongseok Shin
Keyword(s):  
Economic Development ◽  
Review Essay ◽  
Financial Regulation ◽  
Economic Research ◽  
Human History ◽  
Long Run

I review William N. Goetzmann’s Money Changes Everything: How Finance Made Civilization Possible. This magnificent book offers insightful coverage of more than 5,000 years of human history under the theme of “how finance made civilization possible.” I reinterpret its main hypotheses in the context of recent economic research on finance and development, and also compare them with other economic historians’ views. I suggest that further examinations of the historical facts in the book could guide us in rethinking financial regulation. ( JEL E42, E44, G00, N20)

The economy of the Chukotka Autonomous Okrug: On the path from monodependence to diversification

2020 ◽  
Vol 18 (4) ◽  
pp. 662-674
Author(s):  
S.G. Serikov
Keyword(s):  
Economic Development ◽  
Statistical Analysis ◽  
Gross Regional Product ◽  
Key Factors ◽  
Economic Problems ◽  
Analysis Methods ◽  
Socio Economic Development ◽  
Regional Product ◽  
Statistical Analysis Methods

Subject. This article explores the changes in the economic development of the Chukotka Autonomous Okrug during the Soviet and post-Soviet periods. Objectives. The article aims to identify trends and features of the socio-economic development of the Chukotka Autonomous Okrug. Methods. For the study, I used the comparative, computational, constructive, and statistical analysis methods. Results. The article reveals key factors in the growth of the Chukotka Autonomous Okrug's gross regional product and the economic challenges to the region. As well, the article considers and proposes some possible options for further socio-economic development of the Okrug. Conclusions. The Okrug's current socio-economic problems are caused by not objective reasons only, but subjective factors, as well.

scholarly journals Implications of Governance, Natural Resources, and Security Threats on Economic Development: Evidence from Sub-Saharan Africa

2021 ◽  
Vol 18 (12) ◽  
pp. 6236
Author(s):  
Husam Rjoub ◽  
Chuka Uzoma Ifediora ◽  
Jamiu Adetola Odugbesan ◽  
Benneth Chiemelie Iloka ◽  
João Xavier Rita ◽  
...  
Keyword(s):  
Economic Development ◽  
Natural Resources ◽  
Causal Effect ◽  
Sub Saharan Africa ◽  
Security Threats ◽  
African Countries ◽  
Significance Level ◽  
Long Run ◽  
Short Run ◽  
Sub Saharan

Sub-Saharan African countries are known to be bedeviled with some challenges hindering the economic development. Meanwhile, some of these issues have not been exhaustively investigated in the context of the region. Thus, this study aimed at investigating the implications of government effectiveness, availability of natural resources, and security threats on the regions’ economic development. Yearly data, spanning from 2007 to 2020, was converted from low frequency (yearly) to high frequency (quarterly) and utilized. Data analysis was conducted using Dynamic heterogeneous panel level estimators (PMG and CS-ARDL). Findings show that while PMG estimator confirms a long-run causal effect of governance, natural resources, and security threats on economic development, only natural resources show a short-run causal effect with economic development, while the CS-ARDL (model 2) confirms the significance of all the variables both in the long and short-run. Moreover, the ECT coefficients for both models were found to be statistically significant at less than 1% significance level, which indicates that the systems return back to equilibrium in case of a shock that causes disequilibrium, and in addition, reveals a stable long-run cointegration among the variables in the model. Finally, this study suggests that the policy makers in SSA countries should place more emphasis on improving governance, managing security challenges, and effectively utilizing rents from the natural resources, as all these have severe implications for the economic development of the region if not addressed.

scholarly journals The role of diversity and tolerance in economic development

2021 ◽  
Author(s):  
Witold Kwasnicki
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Industrial Development ◽  
Evolutionary Process ◽  
Evolutionary Model ◽  
Industry Development ◽  
Radical Innovations ◽  
Long Run

AbstractThis paper presents an evolutionary model of industry development, and uses simulations to investigation the role of diversity and heterogeneity in firms’ behaviour, and hence industrial development. The simulations suggest that economic growth is increased with greater variety, in the sense of the evolutionary process approaching the equilibrium faster and also, in the long run, moving faster from one equilibrium to a new, more advanced, equilibrium. This occurs due to higher variety caused by a more tolerant environment, and due to the higher probability of emergence of radical innovations.

scholarly journals Tourism Industry and Economic Growth Nexus in Beijing, China

Economies ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 25 ◽  
Author(s):  
Yang Songling ◽  
Muhammad Ishtiaq ◽  
Bui Thi Thanh
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strong Support ◽  
Growth Index ◽  
Strong Relationship ◽  
Tourism Industry ◽  
Var Model ◽  
Long Run ◽  
The Relationship ◽  
Beijing China

In the developing economy, tourism is the most visible and steadiest growing facade. Tourism is considered one of the rapidly increasing elements for economic development from the last two decades. Therefore, the proposed study used vector autoregression (VAR) model, error correction model (ECM), and the Granger causality to check the relationship between the tourism industry and economic growth based on the data of the Beijing municipal bureau of statistics from 1994 to 2015. Gross domestic product (GDP) is used as a replacement variable for the economic growth index, while internal tourism revenue is used as a tourism industry indicator. The study supports the tourism-led growth hypothesis proposed in the existing literature in a different survey of tourism and economic development. The results show that there is a strong relationship in the tourism industry and economic growth in the context of Beijing, and at the same time, tourism creates a more significant increase in long run local real economic accomplishments. The results of the VAR model confirm that in the long run, Beijing’s economic growth is affected by domestic tourism, while the ECM model shows unidirectional results in the short term. Similarly, there is a one-way causal relationship between the tourism industry and economic growth in Beijing, China. The empirical results are in strong support of the concept that tourism causes growth.

scholarly journals Tax-Exempt Status and Associated Factors among Charitable Foundations in China

2021 ◽  
Vol 13 (8) ◽  
pp. 4116
Author(s):  
Shuyang Wang ◽  
Xiaoyu Wu ◽  
Zhilin Li ◽  
Jing Hua Zhang
Keyword(s):  
Multivariate Logistic Regression Analysis ◽  
Positive Association ◽  
Key Factors ◽  
Charitable Organizations ◽  
Tax Incentive ◽  
Long Run ◽  
Point Increase ◽  
Charitable Foundations ◽  
Tax Exempt ◽  
Status Data

Tax exemption plays an important role in the sustainability of charitable organizations (COs). The 2016 Charity Law of China provides stronger tax incentives for charity donations. Using 767 observations of Chinese charitable foundations (CFs) during 2010–2018 from the China Foundation Center database and manually collected tax-exempt status data, this study applies multivariate logistic regression analysis to examine the association between tax-exempt status and related key factors, such as transparency and donation dependency. This study found that a one-point increase in the transparency score of a CF is associated with a 3.9 percentage points higher likelihood of having at least one type of tax-exempt qualification (OR = 1.039, p < 0.01). There is in general a significantly positive association between tax-exempt status and donation dependency of CFs in China. After 2016, the CFs responded actively to the tax incentive provided by the Charity Law, which in return requires a higher level of transparency. These results suggest that taxation under the legal system may effectively function to promote the sustainability of charity foundations in China in the long run. Further studies are needed to explore in-depth why CFs with advanced tax-exempt qualifications concentrate in Beijing and Shanghai.

ASSESSMENT OF THE ACTIVATOR OF SOCIO-ECONOMIC DEVELOPMENT OF THE REGION

2021 ◽  
Vol 3 (12) ◽  
pp. 27-34
Author(s):  
Liana E. Kabisova ◽  
◽  
Noemi A. Mardeyan ◽  
Zarina E. Tarkhanova ◽  
Batraz E. Bagaev ◽  
...  
Keyword(s):  
Economic Development ◽  
Regional Level ◽  
Economic Situation ◽  
Direction Vector ◽  
Key Factors ◽  
Factors Influencing ◽  
Socio Economic Development ◽  
The Future ◽  
Effectiveness And Efficiency

The article identifies the key factors influencing the activity of the socio-economic development of the region. The dynamics of this factor is analyzed. The indicator is investigated for the sufficiency and validity of the application, as well as for the effectiveness and efficiency with the designation of the direction vector, forecast, assessment for the future use of this leverage, to improve the economic situation at the regional level.

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