scholarly journals THE IMPACT OF STRUCTURAL OND MACROECONOMIC IMBALANCES ON THE FUNDAMENTAL TRENDS OF THE SOCIO-ECONOMIC DEVELOPMENT IN THE MIDDLE EAST AND NORTH AFRICA

2017 ◽  
Vol 10 (2) ◽  
pp. 13-33 ◽  
Author(s):  
I. O. ABRAMOVA ◽  
L. L. FITUNI
Keyword(s):  
Economic Development ◽  
Middle East ◽  
North Africa ◽  
Oil And Gas ◽  
Negative Impact ◽  
Economic Policies ◽  
Mena Countries ◽  
Macroeconomic Imbalances ◽  
Socio Economic Development ◽  
The Impact

Structural and macroeconomic imbalances have been an inalienable  feature of the socio-economic development in the Middle East and  North Africa (MENA) since independence. Both types of  disproportions produce a negative impact upon fundamental  development trends in the region. Against this background, this  paper analyses the structure and hierarchies of imbalances in the  region of the Middle East and North Africa. The article argues that broad-range monitoring of fiscal and macroeconomic indicators  can facilitate the identification of emerging imbalances and provide  ways of overcoming them. The article contends that the natural and  climatic and resource factors quite rigidly determined the economic  profile of the region, which, in turn, predetermines the key structural  and macroeconomic imbalances that affect MENA  socio-economic development. The historical asymmetry in the  development of the MENA states, which for a long time had been parts of the British, French and Ottoman colonial empires, with their economic or strategic roles determined by the overseas rulers,  created prerequisites for the subsequent economic differentiation of  the countries of the region. Over the years of independence, the  uneven development of the initially similar agrarian-Bedouin  economies has increased dramatically as a result of the socio- economic policies carried out by the sovereign governments in  accordance with the resource capacities of each country. The authors categorise MENA countries, dividing them into five groups, depending on the nature and determinants of economic  development. The authors insist that almost all the current social  and economic problems of the region are related to its two  fundamental specific characteristics: colossal rental incomes (mainly  of oil and gas origin) and relative overpopulation. The article exposes main macroeconomic imbalances MENA states, demonstrating the asymmetry of intra-regional development  and structural distortions of the economic and demographic nature. On the basis of complex fiscal and macroeconomic data analysis the  authors identify the existing imbalances. The paper produces a  critique of existing macroeconomic stabilization policies in MENA states and their attempts to overcome the existing imbalances. I.  Abramova and L. Fituni provide an augmented assessment of the  typical policy failures in MENA. The research results in a forecast of  the dynamics of financial determinants of macroeconomic stability in the region and the authors’ vision of ways to overcome or limit the  existing and imminent imbalances. The authors come to the  conclusions that that MENA countries need to accelerate structural reforms in order to overcome imbalances and to achieve  diversification of their economies. Expanding the opportunities for  the national private sector and increasing its importance in the non- oil segment of the economy could help to alleviate the employment  situation and increase the effective consumer demand.

scholarly journals Environmental Performance and Economic Growth in Middle East and North Africa Countries

2019 ◽  
Vol 9 (24) ◽  
Author(s):  
Hichem Dkhili
Keyword(s):  
Economic Growth ◽  
Middle East ◽  
North Africa ◽  
Environmental Performance ◽  
Middle Eastern ◽  
Smooth Transition ◽  
African Countries ◽  
Mena Region ◽  
Mena Countries ◽  
The Impact

Background. Studies on environmental performance/quality and economic growth show inconclusive results. Objective. The aim of the present study is to assess the non-linear relationship between environmental performance and economic growth in the Middle East and North Africa (MENA) region from 2002–2018. Methods. A sample of fourteen (14) MENA countries was used in the present analysis. However, due to important differences between countries in this region, the whole sample was divided into two sub-samples; nine Middle Eastern countries (MEAS) and five North African countries (NAF). We performed the panel smooth transition regression model as an econometric approach. Discussion. Empirical results indicate a threshold effect in the environmental performance and economic growth relationship. The threshold value differs from one group of countries to another. More specifically, we found that the impact of environmental performance and economic growth is positive and significant only if a certain threshold level has been attained. Until then, the effect remains negative. Conclusions. The findings of the present study are of great importance for policymakers since they determine the optimal level of environmental performance required to act positively on the level of economic growth. MENA countries should seek to improve their environmental performance index in order to grow output. Competing Interests. The authors declare no competing financial interests.

scholarly journals Social Trust in the Middle East and North Africa: The Context-Dependent Impact of Citizens’ Socio-Economic and Religious Characteristics

2019 ◽  
Vol 35 (6) ◽  
pp. 894-911 ◽  
Author(s):  
Niels Spierings
Keyword(s):  
Middle East ◽  
North Africa ◽  
Social Trust ◽  
Context Dependency ◽  
Comparative Approach ◽  
Mena Region ◽  
Mena Countries ◽  
Systematic Assessment ◽  
Context Sensitive ◽  
The Impact

Abstract Our knowledge of social trust's drivers in the MENA region is limited and there are good reasons to expect that theories based on Western countries cannot be copied to the MENA one-to-one. Arguing for a broader and at the same time context-sensitive comparative approach, I translate the ‘societal winners’, social capital, and religious beliefs mechanisms explaining trust to the MENA context. Moreover, I acknowledge intraregional diversity and test how the impact of these factors also differs among MENA countries. Empirically, I synchronize 47 surveys from 15 MENA countries, which provides the broadest and most systematic assessment of trust in the MENA to date. The results show that the societal-winner mechanism does not hold: employed, higher education and wealthier citizens are not more trusting. However, higher-educated citizens distrust other citizens more, particularly in the strongest autocracies. Religiosity seems pivotal too. Among others, service-attending citizens are more trusting, mainly where regimes regulate religious affairs. Overall, this study provides insight into what shapes generalized social trust in the Middle East and North Africa and it underscores that at a comparative level we need to consider inter-regional and intra-regional forms of context-dependency were we to formulate a broadly applicable theoretical framework of trust's drivers.

scholarly journals THE INFLUENCE OF THE SHADOW ECONOMY ON THE SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE

2021 ◽  
Author(s):  
Yuliia Romanovska ◽  
Lily Strapachuk
Keyword(s):  
Economic Development ◽  
Shadow Economy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
State Budget ◽  
Socio Economic Development ◽  
High Inflation ◽  
High Level ◽  
The Impact

The article considers the approaches to the interpretation of the category "shadow economy", which causes a variety of approaches to assessing the impact of the shadow economy on the socio-economic development of Ukraine. The spread of the pandemic and the complication of economic conditions, formed as a result of the introduction of forced restrictive measures, have led to the growth of the shadow economy in Ukraine. The index of shadowing of the economic sphere in relation to the inflation index and the level of the state budget deficit has been studied. The factors that led to the shadowing of the economy and caused the growth of the share of the shadow sector in the economy of Ukraine are highlighted. The main components of shadow employment are identified. Business entities operating in the shadow sector have significantly more competitive advantages and much higher efficiency than legally operating businesses. As a result, such enterprises are an obstacle to the flow of funds to the budgets of all levels of the country, and as a consequence, have a negative impact on socio-economic development in general. In recent years, state budget expenditures have been growing too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation and, consequently, negatively affects the socio-economic security of society. Budget expenditures are closely linked to public policy, which allows the state to curb the level of economic shadowing through measures to reform relevant areas. It is investigated that the State budget expenditures grow too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation. The paper substantiates the reasons for the growth of the shadow economy and identifies the main measures to reduce shadow employment, the manifestations of which are the deformation of social and economic institutions of the state. The de-shadowing of the economy provides citizens with the right to social protection, in the form of social guarantees in case of unemployment, temporary incapacity for work, accidents or occupational diseases during official work, pensions, etc.

scholarly journals Constructing Functional Models of Economic Phenomena by the Method of Statistical Equations of Dependences

2017 ◽  
pp. 73-78
Author(s):  
О. І. Kulynych
Keyword(s):  
Economic Development ◽  
Statistical Modeling ◽  
Negative Impact ◽  
Theoretical Models ◽  
Main Function ◽  
Economic Policies ◽  
Financial Flows ◽  
Goods And Services ◽  
Socio Economic Development ◽  
Regional Product

The functional theoretical model of the socio-economic development of regions is constructed by the method of statistical equations of dependences, for substantiating objectives, plans and standards. The nomenclature of factors with impact on the formation of gross regional product is proposed, the share of impact of each factor is determined. In the new economic conditions, the concept of planning is determined from the perspective of outlining the ways to achieve its effectiveness. The process of planning needs to consist of formulating overall strategic intentions on determining specific and detailed actions aimed at generating income and spending over a certain period (a year or five years), outlining the ways and means for the achievement of goals. An important component in this process is control over the achievement of the goal by comparing reported and planned data, identifying and evaluating factors with either positive or negative impact on the economic performance. Solutions to the issues of planning and forecasting of phenomena and processes, structural change in the economy or stability of the economic system are a matter of vital importance for scientific communities, practical economists and power officials. This is a reason behind great attention drawn to constructing of economic development models, designed to analyze allocation of production resources and distribution of the national product for social purposes, which constitutes the main function of the state policy Basically, economic and statistical modeling can be made by use of the following models: model of economic systems; model of production process; model of demand and consumption of goods and services; model of prices and income; model of financial flows; model of national economy; model of socio-economic development. When modeling the socio-economic development at country or regional level, constructing and evaluating social and economic policies at either level, statistical methods need to be used, expert methods and methods of neural-fuzzy modeling in particular. Use of the method of statistical equations of dependences allows for supplementing the given nomenclature of forms for economic and statistical modeling by the following types of modeling: substantiating the objectives, plans or standards of the development of economic phenomena through constructing of functional theoretical models; predicting change in the factors when determining the level of socio-economic phenomena in a future period. Understanding the essence of an economic model is greatly important for generating information about the socio-economic development.

Market attractiveness of oil and gas companies as a factor affecting the socio-economic development in regions of their business operations

2021 ◽  
Vol 20 (1) ◽  
pp. 124-141
Author(s):  
Sergei G. MARICHEV
Keyword(s):  
Economic Development ◽  
Oil And Gas ◽  
Global Market ◽  
Market Capitalization ◽  
Oil Refineries ◽  
Oil Companies ◽  
Socio Economic Development ◽  
Oil And Gas Companies ◽  
The Impact ◽  
Oil Company

Subject. I address the impact of market capitalization of oil and gas companies on their contribution to the socio-economic development of regions of presence. Objectives. The purpose is to determine to what extent the factor of high market capitalization of the oil company is crucial in the changing the market environment. Methods. The study draws on methods of economic and statistical analysis. Results. I considered the current state of the Russian oil industry in the context of tax maneuver, and the future evolution of the oil and gas sector from the perspective of government authorities’ desire to develop oil refineries. I performed the financial analysis of operations of two large regional oil companies, namely, Bashneft and Tatneft, examined their contribution to the regions of presence in accordance with the level of market capitalization and ownership structure. The paper highlights the key factors, influencing the contribution of companies to the socio-economic development of regions. Conclusions. In addition to the unfavorable global market conditions, changes in the taxation of oil companies in Russia in the form of tax maneuver are the additive factors that negatively affect the profitability of the industry as a whole. The growth of oil companies’ capitalization has a positive impact on their contribution to the development of regions of presence, depending on the specifics of equity structure. In the face of adverse external factors, the influence of high market capitalization of the oil company reduces drastically due to cumulative decline in business profitability.

scholarly journals Imitation of the impact of external factors in the modeling of innovation-oriented regional socio-economic systems

2020 ◽  
Vol 210 ◽  
pp. 13035
Author(s):  
Tatyana Ladykova ◽  
Inessa Vasilieva
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Negative Impact ◽  
Optimal Strategies ◽  
External Factors ◽  
Regional Innovation ◽  
Stage Of Development ◽  
Regional Strategies ◽  
Socio Economic Development ◽  
The Impact

The regions of the Russian Federation function and develop in conditions of instability and uncertainty of the external strategic environment. Therefore, each region tries to develop optimal strategies for its innovation oriented development on the principles of efficiency and minimizing uncertainty (risk). At the same time, it is important not just to form a strategic set of alternatives for the development of the region, but it is important at every moment to know at what stage of development the region is, how close it is to the strategic goal of its development. Analysis of studies on strategic planning and management, shows the lack of a single accepted methodology for assessing the effectiveness of the implementation of regional strategies and general approaches to formation of system of indicators of its assessment. Nevertheless, the majority of researchers agree that it is important to assess not whether the implementation of the developed strategy is carried out correctly or not, but it is important to assess how close the implementation of the innovation oriented strategy is to the goals set for the region. Indicative planning is an important tool for regulating the processes of socio-economic development at the regional level. In modern conditions, the world economy is experiencing an increase in the level of negative impact of various external factors and major challenges to economic actors, including regions. The article substantiates the conceptual scheme of the imitation model of the regional socio-economic system, which takes into account not only the subjects and objects of management, but also the impact of the external environment. A method of increasing the realism of imitation models of the regional innovation oriented socio-economic system is proposed – the use of a random choice of one of the options for adaptation to a given external factor. Within the framework of this model, it is proposed to allocate the following macro-regional blocks (objects of regional management): income, labor, business, ecology, society, prospects, Finance. In this case, the control regulation within the framework of the proposed model is carried out on the basis of an indicative plan, which sets goals, objectives and indicators of regional innovation oriented socio-economic development.

scholarly journals Assessment of the environmental determinants of public health and their impact on the regional economy

2018 ◽  
Vol 55 ◽  
pp. 01018
Author(s):  
Anna Pepelyaeva ◽  
Yuliya Karpovich
Keyword(s):  
Public Health ◽  
Quality Of Life ◽  
Economic Development ◽  
Regional Economy ◽  
Negative Impact ◽  
Standard Of Living ◽  
Socio Economic Development ◽  
The Impact ◽  
Perm Region

At present, the significance of the ecological component in the socio-economic development of the regions has grown significantly. Sustainable socio-economic development of the region is possible only with the improvement of the regional ecosystem and ensuring environmental security. The article proposes a methodology for assessing regional environmental factors and their impact on the health of the inhabitants of the territory, as well as assessing the impact of public health on the quality and standard of living of the population (GRP is used as a criterion for assessing the standard of living of the population in the region, and HDI is used as a criterion assessing quality of life in the region). Approbation of the methodology was carried out on the example of seven subjects of the Russian Federation (Perm region, Nizhny Novgorod region, Sverdlovsk, Samara and Chelyabinsk regions, Tatarstan and Bashkortostan Republics). All regions demonstrate a low level of functioning of the ecological component, in addition, three regions (Perm region, the Republic of Bashkortostan and the Sverdlovsk region) show negative dynamics. The regression analysis presented in the article showed a significant influence of the ecological component on the health status of the inhabitants of all the assessed regions. The proposed methodology can be applied not only for interregional, but also for intercountry analysis of environmental conditions. The development and implementation of measures to reduce the dysfunctions of the ecological component of the regional socio-economic system will mitigate the negative impact on the regional economy, improve the quality of life of the population of the regions.

scholarly journals Issue of Accumulation and Redistribution of Oil and Gas Rental Income in the Context of Exhaustible Natural Resources in Arctic Zone of Russian Federation

2020 ◽  
Vol 8 (12) ◽  
pp. 1006
Author(s):  
Natalia Kirsanova ◽  
Olga Lenkovets ◽  
Muhammad Hafeez
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Oil And Gas ◽  
Income Redistribution ◽  
Raw Material ◽  
The Arctic ◽  
Material Base ◽  
Arctic Zone ◽  
Socio Economic Development ◽  
The Impact

The significant resource potential of the Arctic has attracted the attention of its adjacent countries and extra-regional states. The mineral and raw material base of the Arctic Zone of the Russian Federation (AZRF) comprises a wide range of minerals. However, due to its hydrocarbon reserves, the Arctic is considered to be the most important geopolitical and geo-economic macro-region for Russia. A significant portion of the Arctic hydrocarbons (about 19%) is concentrated in the territory of Russia’s shelf. The extraction of Arctic marine oil and gas resources and ensuring the sustainability of the Russian energy complex depend significantly on the level of Arctic development. Thus, the pace and quality of the development of AZRF are strategically important to ensure the national interests of the country. It has been proven that the implementation of the state program for AZRF development and strategic plans of the largest companies operating in the region consolidate the raw material nature of AZRF development. Rent becomes the main form of income. This article addresses the main directions of the region’s development and the factors that prevent a high level of industrialization, which increase attention to the withdrawal and redistribution of rental income. The article considers the Russian and foreign experiences of withdrawal and redistribution of oil and gas rental income, and analyzes the level of socio-economic development of AZRF. The authors suggest a methodology for assessing the impact of a country’s area and population size on the ability to achieve a high income due to hydrocarbons. The authors also explain the principles of rental income redistribution in the region as a basis for improving the level of AZRF’s socio-economic development and as a condition for transition from the “colonial model” of development to the “sustainable development” model. The study results can be used to elaborate a mechanism for rental income redistribution in AZRF and state programs for the region’s development.

scholarly journals Migration in Modern Russia: Scope, Main Directions and Problems

REGIONOLOGY ◽  
2020 ◽  
Vol 28 (1) ◽  
pp. 131-158
Author(s):  
Nikolai A. Pruel ◽  
Lyudmila N. Lipatova ◽  
Valentina N. Gradusova
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Economic Security ◽  
Federal State ◽  
Economic Policies ◽  
Negative Consequences ◽  
Mass Migration ◽  
Socio Economic Development ◽  
Social Difficulties ◽  
Migration Flows

Introduction. In recent years, many European countries faced with a significant influx of migrants have experienced economic and social problems. Although redistribution of population is an objective process, both personal and social difficulties can be associated with territorial mobility of people. Therefore, it is important to foresee the possible negative consequences of mass migration. The purpose of this piece of research is to analyze migration flows in modern Russia and identify possible threats to economic security and social stability associated with migration. Materials and Methods. The study employed the data from the Russian Federal State Statistics Service (Rosstat), as well as papers by scientists involved in the study of the problem considered. The systematic approach and the methods of the demographic analysis, comparative analysis, content analysis, generalization and interpretation of the results were adopted. Results. Based on official statistics and expert estimates, an analysis of the situation in the field of migration in Russia has been carried out, the main directions of population redistribution have been identified, and the need for adjusting the socio-economic policy in the regions experiencing significant migration turnover has been substantiated. A set of measures aimed at reducing the emigration of young people from Russian regions has been proposed. Discussion and Conclusion. Conclusions have been drawn about the possible increase in the negative impact of migration processes on the socio-economic development of the Russian Federation as a whole as well as that of individual regions in particular. This requires detailed study of migration processes in order to take measures to optimize migration flows and adjust socio-economic policies. The results of the study can be used by the authorities when planning and adjusting socio-economic development programs.

scholarly journals Analysis of the oil market and the impact of integration processes on socio-economic development indicators of Russia

2021 ◽  
Vol 284 ◽  
pp. 07012
Author(s):  
Guzaliya Klychova ◽  
Alsou Zakirova ◽  
Movlatkhan Shadieva ◽  
Ullah Raheem ◽  
Ayaz Zakirov
Keyword(s):  
Economic Development ◽  
Oil And Gas ◽  
Monopolistic Competition ◽  
Time Integration ◽  
State Regulation ◽  
The State ◽  
Competitive Environment ◽  
Oil Market ◽  
Socio Economic Development ◽  
The Impact

In modern conditions oil and gas sector is not only the largest sector of the economy, also this industry plays an important role in social and economic development of the state. In this regard, there is a need for effective regulation of the oil and gas complex, in particular, the state regulation. Market concentration indices CR-3, CR-4, Herfindahl-Hirschman index, Hall-Teidman index and Lind index have been calculated for competitive environment analysis. Having analyzed the competitive environment of the Russian oil market in 2015-2019, it was possible to find out that the Russian oil market in 2015-2016 was moderately concentrated, in 2017-2019 - highly concentrated; during the whole period under consideration the Russian oil market was a monopolistic competition market. The study also analyzed the impact of integration processes on the indicators of socio-economic development of the country. The analysis revealed that gross domestic product (GDP) and consolidated budget revenues are moderately strongly influenced by integration processes on the oil market; the volume of oil production with gas condensate is moderately influenced by them. At the same time, integration processes in the oil market do not have a significant impact on economic growth and foreign trade balance.

Sign in / Sign up

Export Citation Format

Share Document