scholarly journals FOREIGN CURRENCY REFINANCING AS A NEW ELEMENT OF STIMULATING THE ECONOMIC DEVELOPMENT OF TRANSITION ECONOMIES

2020 ◽  
Vol 6 (5) ◽  
pp. 171-177
Author(s):  
Andrii Hrona
Keyword(s):  
Economic Development ◽  
Correlation Coefficient ◽  
Transition Economies ◽  
Transition Economy ◽  
Foreign Currency ◽  
Negative Impact ◽  
Economic Systems ◽  
Significant Negative Impact ◽  
Business Entities ◽  
Negative Impacts

Transition economies require finding and implementing new elements to stimulate their development, especially with regard to the economic systems of the former Soviet countries (Ukraine and Belarus). Under these conditions, it is important to use the experience of other transition economies, which includes the use of foreign currency refinancing. Purpose. Substantiation of the introduction of foreign currency refinancing as a new element of stimulating the economic development of transition economies through assessment of the development of the mentioned economies in Belarus and Ukraine. Design/methodology/approach. The study employed a quantitative analysis of statistical data to assess the development of transit economies in Ukraine and Belarus over the 21-year period. Correlation and regression analysis was also involved to identify key areas of impact of foreign currency refinancing on transitive economic systems. In this case, it was proposed to use five regression functions (linear; exponential; polynomial; logarithmic; power). It was separately proposed to determine the correlation ratio between the key areas of impact of foreign currency refinancing on the transition economy and the volume of foreign exchange refinancing using three methods: the determination factor; checking the correlation coefficient on the Chaddock’s scale; comparison of the correlation coefficient with the critical correlation coefficient. Findings. The article analyses the development of the transition economies of Ukraine and Belarus over the 21-year period (from 1999 to 2019) and emphasises that since 2008 the development of economic systems of the countries selected for the study has almost stopped despite activities (tools) used to stimulate the growth of national economies. The authors prove the importance of finding and using new elements to stimulate the economic development of the economies of Belarus and Ukraine. The use of foreign currency refinancing as a new element of stimulating the development of economic systems of Ukraine and Belarus is justified. The mechanism, beneficial and negative impacts of the use of foreign currency refinancing for transition economies selected for the study are identified. The key areas of influence of foreign currency refinancing on the economic systems of Belarus and Ukraine are identified, where the size of lending; revenues of budgets of different levels, business entities, households are the main ones. At the same time, the authors managed to refute the possibility of a significant negative impact of currency refinancing on the growth of the monetary base, inflation and devaluation processes in the countries selected for the study. Practical implications: the conducted research is important for ensuring the long-term development of transition economies, primarily in Ukraine and Belarus. Originality/value: the study will allow to identify key areas of impact of foreign currency refinancing on transitive economic systems, and revealing its beneficial and negative impacts for economies of this type on the example of Ukraine and Belarus.

scholarly journals Cultural and Social Diversity as an Economic Resource

2021 ◽  
Vol 65 (2) ◽  
pp. 141-155
Author(s):  
Damian S. Pyrkosz
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Positive Impact ◽  
Economic Systems ◽  
Main Body ◽  
Social Diversity ◽  
Economic Resource ◽  
Numerous Data ◽  
The Relationship

The paper seeks to identify the role of cultural and social diversity in economic development. It starts by defining the terms that are critical to the analysis, including diversity, fractionalization, polarization, social diversity, cultural diversity and economic resources, as well as providing the most significant indexes thereof. The main body of the paper interprets the notions of cultural and social diversity in terms of being a valuable economic resource. Furthermore, it collects a vast body of literature to demonstrate the relationship between the cultural/social diversity and economic development with regard to adverse or positive impact on the latter. In regard to the negative impact of diversity, the paper identifies it in the area of social communication, social capital and networks, as it effectively causes a decrease in productivity and increase in social conflict and isolation. The positive link is demonstrated with examples in the areas of innovation, creativity, usage of complementary abilities and experiences, and their role in increasing productivity. The paper refers to numerous data sources, studies and indexes illustrating how the economic systems of various countries perform in the context of the paper’s subject-matter.

scholarly journals DISCUSSION QUESTIONS OF ESSENCE OFTHE PUBLIC DEBT RISKS AND PROBLEMS OF THEIR EVALUATION IN UKRAINE

2017 ◽  
pp. 121-131
Author(s):  
Nadiia LUBKEY
Keyword(s):  
Risk Management ◽  
Economic Development ◽  
Public Debt ◽  
Negative Impact ◽  
Debt Management ◽  
The Public ◽  
Socio Economic Development ◽  
Significant Negative Impact ◽  
Country Analysis ◽  
Methodological Approaches

Introduction. The significant and constantly increasing volume of public debt of Ukraine, its irrational structure, inefficient use of borrowed government loans lead to growth of debt risks and decrease of the state debt sustainability. For a successful debt management we need to apply effective risk management ofpublic debt. Purpose. The aim of this research is to clarify the essence of the public debt risk; to analyze the methodological approaches to their evaluation; to determine the main directions for the risk management of public debt, as well as the ways to improve the current methodology forassessing public debt risk in Ukraine. Results. Based on studies of different approaches to interpreting the essence ofthe public debt risk we have established that risk of public debt caused by the presence ofthe probability the formation of such debt parameters that may have significant negative impact on the socio-economic development ofthe country. Analysis ofthe main approaches to assessing of public debt risks revealed a number of shortcomings in current Ukrainian methodology. The main directions ofpublic debt risk management are: managing the risks associated with large amounts of public debt; debt management risks caused by irrational structure of public debt; managing the risks associated with the rapid growth of the public debt; risk management related to the inefficient use ofgovernment loans. Conclusion. The current methodology for assessing the risks associated with debt management used in Ukraine needs to be improved. In our opinion such methodologies must necessarily contain the indicators of effectiveness of government borrowing.

scholarly journals Shrimp Cultivation: Development Debate and the Adverse Effect on Environment and Economy

2018 ◽  
Vol 1 (2) ◽  
pp. 60-68
Author(s):  
Syed Ashik-E-Elahi ◽  
Md Ziaur Rahman ◽  
Nitin Kumar ◽  
Jhensanam Anusara ◽  
Bouasone Chanthamith ◽  
...  
Keyword(s):  
Economic Development ◽  
Foreign Currency ◽  
Research Result ◽  
Occupational Groups ◽  
Income Sources ◽  
Short Period ◽  
Negative Impacts ◽  
The Masses ◽  
Shrimp Cultivation

As an indicator of economic development, GDP remains the main factor among economists. But the hidden reality is that such parameter just shows the overall superficial economic gain but not the real development scenario of the masses. In the name of economic development, numerous degrading activities take place in the centre and periphery regions of Bangladesh. Such unplanned development activities are not only halting the natural flow of development but also creating a threat to sustainability. As the shrimp sector emerges as one of the major areas of earning foreign currency, stakeholders overlooking its multiple negative impacts on the coastal environment and traditional economic livelihood. With the introduction of shrimp cultivation different short of income sources created. As a result, some profit seekers become well off within a short period of time leaving majority unprivileged. Moreover, there is no local authority that shows any concern on the long-term suffering of the local inhabitants. In this article, we tried to show the amalgamate opinion of multiple people from different occupational groups and the conflicting areas against popular theory of development. As the research is heterogeneous in nature we used qualitative method for collecting data from various respondents. The research result clearly shows the conflicting situation and deprivation of the local inhabitants. Concluding part of this research focused on the ultimate crisis and its way out.

scholarly journals The Effect of Beijing-Shanghai High-Speed Railway on the Economic Development of Prefecture-Level Cities Along the Line Based on DID Model

2021 ◽  
Vol 235 ◽  
pp. 01016
Author(s):  
Yuzhou Ma
Keyword(s):  
Economic Development ◽  
High Speed ◽  
Negative Impact ◽  
High Speed Rail ◽  
High Speed Railway ◽  
Agglomeration Effect ◽  
Significant Negative Impact ◽  
Empirical Perspective ◽  
The Impact ◽  
The Empirical Analysis

High-speed railway has an essential impact on the economic and social development of the regions along the line. Based on the Beijing-Shanghai high-speed railway, this paper constructs the DID model and analyzes the impact of Beijing-Shanghai high-speed railway on the economic development of prefecture-level cities along the route from the empirical perspective. The empirical analysis results show that the BeijingShanghai high-speed railway has a significant negative impact on the per capita GDP of prefecture-level cities along the line in the short term, mainly because the agglomeration effect is greater than the diffusion effect. Therefore, small cities should actively think about how to deal with the agglomeration effect caused by the construction of high-speed rail.

TRANSITION ECONOMIES PROBLEMS WITH SPECIFIC FOCUS ON DEALING WITH SCALE OF CORRUPTION CASE STUDY – KOSOVO

2018 ◽  
Vol 28 (1) ◽  
pp. 329-334
Author(s):  
Ariana Xhemajli
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Transition Economies ◽  
Direct Investment ◽  
Negative Impact ◽  
Objective Measures ◽  
Corruption Case ◽  
The World ◽  
The Impact

Theoretical and empirical debate on the impact of corruption on the economy remains unclear. Many studies on corruption seem that the world is occupied by two kinds of people, "sanders" and "greasers”. It depends on what the meaning of "corruption" is for them. Some scholars argue that corruption is an obstacle to economic growth, whereas others believe that corruption can (in some circumstances) endorse growth. Corruption also has a negative impact on investment, Foreign Direct Investment, and economic development as a whole. Measuring corruption is still an issue for most economists due to the difficulties of defining it, and also different forms of corruption require different objective measures. Nevertheless, recently, some measures of corruption have been widely accepted and recognized by researchers. This paper is a critical review at these positions by reviewing the theoretical literature on the impact of corruption on an economy as a whole. In this paper we will treat the corruption level in Kosovo, and its presence in forms and ways how the bribe is been given. Instead, this document reviews different measurements of corruption to reveal that corruption is harmful for the economy.

Diversity, Tourism, and Economic Development: A Global Perspective

2020 ◽  
Vol 25 (1) ◽  
pp. 21-41 ◽  
Author(s):  
Saqib Amin
Keyword(s):  
Economic Development ◽  
Equal Opportunity ◽  
Negative Impact ◽  
Religious Diversity ◽  
Global Perspective ◽  
International Tourism ◽  
Negative Consequences ◽  
Tourism Sector ◽  
Significant Negative Impact ◽  
Globalized World

International tourism enhances understanding and interaction between nations and people, or can generate conflicts due to cultural misunderstandings. In this globalized world, diversity on one side plays a vital and essential role in international tourism and economic development but on the other side ethnic, cultural, and religious polarization resulting in conflicts, difficulties that may frighten away tourists and lead to vulnerability of the tourism sector in very heterogeneous countries. This study investigates whether existing ethnic and religious diversity affects the international tourism and economic development. By using the dataset of 187 countries and panel data technique, this study indicates that diversity, either ethnic or religious or both, has a significant negative impact on international tourism and economic development. This study suggests that ethnic and religious diversity is an inherent part of most societies in a globalized world so in order to minimize its negative consequences there is emergent need to provide equal opportunity to all groups and to encourage cohesive culture. A cohesive and peaceful society can enhance tourism.

scholarly journals EFFICIENCY INCREASING OF AGRICULTURAL ENTERPRISES ON THE BASIS OF FORMATION AND USE OF INTELLECTUAL CAPITAL

2020 ◽  
pp. 7-19
Author(s):  
Grygorii KALETNIK ◽  
Tetiana KOLOMIETS
Keyword(s):  
Research And Development ◽  
Intellectual Capital ◽  
Negative Impact ◽  
Strong Relationship ◽  
Added Value ◽  
Innovation Activity ◽  
Economic Systems ◽  
Agricultural Enterprises ◽  
Industrial Enterprises ◽  
Business Entities

The article reveals the possibility of improving the efficiency of agro-industrial enterprises through the formation and use of intellectual capital. It is established that the functioning of business entities in modern economic systems, characterized by a gradual approach to the depletion of material and natural resources, the difficulty of attracting additional financial resources, increasing competition and the need to create products with high added value, necessitates analysis a new order of functioning of economic systems based on the concept of information and knowledge as the main resources and source of wealth. It was found that the basis of the new economic paradigm is the concept of intellectual capital as a new economic category, which reflects the still little-studied sphere of economic formations - intangible. The existence of a strong relationship between the processes of intellectual capital formation and innovation has been proven. It is established that the formed and accumulated intellectual capital is the basis for innovation. It is determined that the assessment and management of the level of intellectual capital of the enterprise can increase the efficiency of intangible assets management, identify factors and reserves of development, increase innovation activity. It is established that R&D expenditures and their intensity are two key indicators used to monitor resources in the formation of intellectual capital. The analysis of the dynamics of research and development expenditures and their share in the structure of Ukraine's GDP is carried out. It is established that in comparison with other countries the volume of expenses for research and development in Ukraine is extremely low. The problems that small and medium-sized agricultural enterprises often face in the formation of their own intellectual capital are identified. The effectiveness of adaptive strategy as a tool for leveling the negative impact of changes in the environment of the enterprise in the management of intellectual capital is proved.

scholarly journals The role of public credit in the economic development of Ukraine

2021 ◽  
pp. 28-33
Author(s):  
Uliana Vatamanyuk-Zelinska ◽  
Olena Ohirko
Keyword(s):  
Economic Development ◽  
Large Scale ◽  
Foreign Currency ◽  
Negative Impact ◽  
Banking System ◽  
Scientific Research ◽  
Government Bonds ◽  
Rational Use ◽  
Public Credit

Purpose. The main aim of the article is defining the essence of public credit, as well as analysis of the role of public credit in the economic development of Ukraine. Methodology of research. A set of general scientific research methods is used to achieve the defined goal and objectives, thanks to which the scientific literature on the topic of scientific research is generalized. Thus, generalization methods are used to substantiate the concept of “public credit”. The system approach allowed to investigate the essence of the concept of the sign and features of the concept of “public credit”. Methods of analysis and synthesis are used to determine the dynamics of government borrowing, including domestic government bonds, as well as to assess the positive and negative significance of public credit for the economies of Ukraine. Findings. Peculiarities and essence of state credit are investigated. Based on the fact that the modern financial policy of Ukraine determines the objective need to use government borrowing, in a market economy, the institution of public credit is becoming increasingly important in the financial system of the country. The dynamics of government borrowing volumes, in particular, the dynamics of domestic government bond volumes are analysed. It is established that during the period under study in this form of raising funds were the largest, which is due to large-scale renewal of the banking system of Ukraine; the vast majority of government borrowings were short-term and carried out for a period of one to three years. The reduction of government borrowing in foreign currency was facilitated by the deterioration of the investment climate in the country due to the spread of the coronavirus pandemic. The expediency of using a state loan and the negative impact of this on the economy of Ukraine are outlined. Originality. Recommendations for the rational use of public credit resources for their most effective use are developed in the article. Practical value. The results of the study can be used to develop a program of optimal and rational use of government borrowing with maximum benefit. Key words: state credit, borrowing, domestic government bonds, yield.

scholarly journals Study of economic development reserves of the hotel enterprises and restaurant industry under the systems analysis method

2019 ◽  
pp. 99-106
Author(s):  
Оlena I. Judina ◽  
Halyna A. Ryzhkova
Keyword(s):  
Economic Development ◽  
Standard Deviation ◽  
Multiple Regression ◽  
System Analysis ◽  
Negative Impact ◽  
Business Economics ◽  
Commercial Activities ◽  
Business Entities ◽  
Administrative Expenses ◽  
The Impact

The purpose of the research. The purpose of this paper is the determination based on the method of system analysis of reserves of economic development of the enterprises of hotel and restaurant services by constructing multiple regression models of industrial and commercial activities and calculation on the basis of factors that characterize development reserves resource potentials and directions of growth of efficiency of business entities. Methodology. The methodology is based on the fundamentals of business Economics, econometrics, mathematical statistics, and publications of domestic and foreign scientists on the problems of economic development of enterprises. To identify, assess and substantiate the results of the study used methods of theoretical justification, grouping, economic-mathematical modeling, factorial, statistical, stochastic, correlation and regression analysis, etc. Results. In the work on the basis of the objective function the model of multiple regression of industrial and commercial activities, which mathematically described the communication patterns and quantitative relationships of its elements (factors or input intensities), defined a differentiated and integrated the impact of costs of operating activities on the profitability of hotel and restaurant management. By calculating βKi-coefficients set share changes standard deviation values of the resultant variable due to changes in relevant economic indicators regression equation on the value of its standard deviation. According to the calculated βKicoefficients that characterize the degree of a variation factor parameter defined by reserves economic development and possibilities of improving the productive performance of enterprises, as reflected in economic and mathematical models. It is proved that the increase in the costs of labor resource development and administrative expenses increases the level of income of the enterprise, and the increase of material costs and expenses on the basic production funds have a negative impact on the efficiency of functioning and, consequently, the development of economic entities. It has also been found that the largest reserves for raising the income level of the hotel and restaurant business are laid down in the cost of OVF and administrative and marketing activities. Practical meaning. The proposed research method-ology was used in forecasting and planning the results of the enterprises. The prospects for further research are to identify trends and to form an effective mechanism for sustainable economic development of hotel and restaurant businesses.

Channels of corruption in Africa: analytical review of trends in financial crimes

2020 ◽  
Vol 27 (1) ◽  
pp. 294-306
Author(s):  
Kempe Ronald Hope, Sr
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Published Data ◽  
Negative Effects ◽  
Financial Flows ◽  
Content Type ◽  
Financial Crimes ◽  
Socio Economic Development ◽  
Analytical Review ◽  
Negative Impacts

Purpose The purpose of this paper is to identify and analytically review the trends of financial crimes as channels of corruption that impact the development process and economic progress in Africa. Design/methodology/approach This paper outlines the trends in financial crimes by compiling statistics derived from a scan of the publicly available survey and other published data related. Findings The financial crimes of embezzlement and theft, bribes and kickbacks, money laundering and illicit financial flows and state capture are all channels of corruption that are prevalent in Africa with significant negative effects on the continent’s socio-economic development progress. The magnitude of these crimes has been trending upward with the resultant effect that corruption continues to have significant negative impacts on Africa’s current and future development prospects. To develop policies to minimise these negative effects, it is necessary to quantify and continuously monitor the magnitude of these various corruption channels. Originality/value The main value of the study is the insights it provides on the nature and extent of the trends in financial crimes as channels of corruption in Africa, and the resultant negative impact on socio-economic development in the region.

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