scholarly journals Using International Ranks and Business Activity Indicators for Economic Development Forecasting

2018 ◽  
Vol 83 (4) ◽  
pp. 34-43
Author(s):  
M. V. Puhachova
Keyword(s):  
Economic Development ◽  
Economic Sectors ◽  
Monthly Basis ◽  
Global Competitiveness ◽  
Industrial Enterprises ◽  
Doing Business ◽  
Current Economic Situation ◽  
Business Confidence ◽  
Production Orders ◽  
Production Capacities

The majority of countries use several well-known integral indicators for economic forecasting purposes, on which basis these countries’ ranks in the global economic community are computed. Apart from allowing investors to make investment decisions, such indicators and ranks help in forecasting economic development in forthcoming periods. The best known of them is Ease of Doing Business Index and Global Competitiveness Index. The less known ones are indicators of Business Tendency Surveys (BTS), computed on the basis of data obtained from questionings of enterprise managers in various economic sectors and from studies of consumer sentiments. Yet, specialists tend to use the data from these conjuncture surveys to analyze the current economic situation in a country (total or by industry) and build short-term forecasts. Apart from the survey indicators depicting quite clearly a situation in the economy, the most popular ones in Europe are Confidence Indicators for enterprises by economic activity, and Economic Sentiment Indicator incorporating the indicators from BTS of enterprises and consumer sentiments. These indicators are computed by the European Commission for EU member countries on monthly basis. The article shows changes in Doing Business ranks for selected EU member countries and Ukraine. BTS indicators for industrial enterprises (estimate of production capacities; estimate of change in the production orders; estimate of the competitive position of enterprises at the internal market) are analyzed for some of these countries. A comparison of the dynamics of production capacities utilization, business confidence indicators and Doing Business rank is made for Ukraine and Bulgaria. The prognosticating capacities of BTS indicators compared with Doing Business indicator are analyzed.

scholarly journals Institutional Environment Modernization In Ukraine: Evaluation And Analysis

2019 ◽  
Author(s):  
Z. Shevchuk ◽  
N. Fedorchuk
Keyword(s):  
Economic Development ◽  
Economic Freedom ◽  
Institutional Environment ◽  
Social Situation ◽  
Optimal Level ◽  
Global Competitiveness ◽  
Doing Business ◽  
Socioeconomic System ◽  
Economic Sphere ◽  
Global Competitiveness Index

In this article the elements of institutional environment development and strategies for solving the problem of stable functioning of social and economic sphere of life of society are considered, discussed and analyzed. The relevance of the study is an attempt to highlight the main indicators of modernization of the institutional environment of Ukraine. These indicators are: global index of the effectiveness of public administration, the index of incapacity of states, the index of global competitiveness, the index of economic freedom, the index of easiness of doing business, the index of acceptance of corruption. All these indicators are included in the process of formation of the institutional environment of Ukraine. The research is based on the methods of the empirical research:, observation, comparison, and, in addition, on the methods of content analysis. Results. The institutional environment provides the basis for the activity for the subjects of the socioeconomic system and also defines the vector of its development. The Global Competitiveness Index not only assesses the degree of competitiveness of a country, but also helps to see the real situation in the country. It shows its competitive advantages and problems that slow down economic development. The Index of Economic Freedom identifies the main problems of an optimal level of economic freedom. It shows that the higher the index of economic freedom leads to the higher level of welfare of the population. The Easiness of Doing Business Index assesses the «rules of the game». In other words, laws, regulations, and other government acts that have impact on reducing unprofitable and bankrupt businesses. This index, in addition, assesses the condition for facilitating for doing business in Ukraine. The Failed States Index helps to analyze Ukraine's ability to control the integrity of its territory, political, demographic, economic and social situation in the country The Corruption Perceptions Index is usually used in political and econometric studies to explain the effectiveness of government administration, economic development and the level of democracy in Ukraine. Moreover, it is used to reduce the corruption in government-business relations. The institutional environment in Ukraine continuously forming. This is why the analysis of some elements of the development of the institutional environment in Ukraine is necessary to identify the optimal strategy for solving the problem of stable functioning of social and economic sphere of life of society

Socio-Economic Development and Competitiveness

2014 ◽  
pp. 289-317
Author(s):  
Mariola Ciszewska-Mlinarič ◽  
Franjo Mlinarič ◽  
Aleksandra Wąsowska ◽  
Krzysztof Wąsowski
Keyword(s):  
Economic Development ◽  
Swot Analysis ◽  
Actual State ◽  
Sources Of Information ◽  
Economic Sectors ◽  
Institutional Practices ◽  
Global Competitiveness ◽  
International Stability ◽  
Socio Economic Development ◽  
Strategic Context

The objective of this chapter is to present Poland's key strategic strengths and weaknesses, providing insights into the actual state of the country's competitiveness in a comparative strategic context. The chapter findings are based on the most recent and reliable data, including international and reputable domestic sources. The authors present a general country profile, discussing the position of Poland in key business rankings. Then an overview of the socio-economic development of Poland, including the macroeconomic situation, international stability and safety, global competitiveness, infrastructure, and demographic trends is provided. The authors also discuss key economic sectors and trends in foreign trade and Foreign Direct Investment (FDI). The discussion on Polish competitiveness is summarized in a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. Finally, the authors present best corporate and institutional practices and lessons in competitiveness, and provide a list of sources of information on doing business in Poland.

SOME FACTORS OF COMMUNICATION TOURISM TYPES AFFECT THE TRADITIONAL CULTURE OF ETHNIC MINORITIES IN THE CENTRAL HIGHLANDS

2020 ◽  
Vol 9 (1) ◽  
Author(s):  
Nguyen Duy Dung
Keyword(s):  
Economic Development ◽  
Cultural Values ◽  
Ethnic Groups ◽  
Ethnic Minorities ◽  
Cultural Preservation ◽  
Economic Sectors ◽  
Community Tourism ◽  
Tourism Activity ◽  
Central Highlands ◽  
Practical Implications

The Central Highlands is an area with a large community of ethnic minorities to be living. In the process of integration into the world economy, community tourism are one of the economic sectors that are interested in developing in our country in general and the Central Highlands area in particular.Although the activity has not been long, but it can be said that tourism and community tourism are the basis and premise to contribute to the socio-economic development of the Central Highlands; contribute to restoring many traditional cultural values of ethnic groups. For a variety of subjective and objective reasons, tourism activity and community tourism have affected ethnic lifestyles, customs and culture in both positive and limited ways. This is an issue that needs to be considered for research, with practical implications for sustainable tourism activities to create momentum for economic development and cultural preservation of ethnic groups in the Central Highlands area in the period of accelerating industrialization, nationalization and international economic integration.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

scholarly journals Lithuania’s Competitiveness: Myths, Realities and Perspectives

Ekonomika ◽  
2008 ◽  
Vol 84 ◽  
Author(s):  
Jekaterina Rojaka
Keyword(s):  
International Comparisons ◽  
Business Environment ◽  
Global Competitiveness ◽  
Doing Business ◽  
National Competitiveness ◽  
Economic Trends ◽  
World Economic ◽  
Business Entities ◽  
National Programs ◽  
Individual Economy

In recent years, the concept of national competitiveness and favourable business environment is broadly associated with economic development. The countries are increasingly paying attention to their competitiveness on global markets by promoting national programs and founding institutions aimed at tackling competitiveness issues. A number of leading international organizations, research institutes and business entities carry out global comparative studies on nation’s competitiveness. However, the global competitiveness ranking results are often inconsistent with economic trends. This raises a question whether the international competitiveness ran kings provide a proper guidance for an individual economy in improving the business environment. The paper aims at revealing the factors behind the discrepancies in evaluating a national competitiveness by international institutions and national agents. The analysis is based on the datasets of two influential publications - Doing Business (the World Bank) and Global Competitiveness Report (World Economic Forum). The study was enriched by a questionnaire, specially tailored to assess the most problematic issues in measuring the business and investment environment. The research has shown that the international comparisons only partially correspond to the national perception of competitiveness. The paper also addresses policy insights for enhancing Lithuania’s competitiveness.

scholarly journals Strategic landmarks for modernization of industrial enterprises of Russia

2021 ◽  
Vol 14 (3) ◽  
pp. 288-297
Author(s):  
Yu. V. Vertakova ◽  
T. N. Babich ◽  
A. V. Bragina
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Social Transformation ◽  
Industrial Revolution ◽  
Industrial Complex ◽  
Industrial Enterprises ◽  
Technological Leadership ◽  
Technological Modernization ◽  
Modernization Process ◽  
Basic Approaches

In the age of technological and social transformation aimed at establishing basic principles of implementing state economic policy under the challenges of the 4th industrial revolution the role of modernization process in the Russian industry is increasing. The authors justify strategic landmarks for technological modernization of industrial enterprises of Russia. To this end they made comparative analysis of innovation and technological, economic development of a number of countries and Russian Federation as well as estimated the preparedness of certain world countries to transformations in economics caused by changes of technological patterns during the 4th industrial revolution. It has been stated that Russian Federation has structural disproportions slowing down economic development of the country. It also demonstrates the need for performing structural transformations to carry out disruptive development and achieve global leadership. At present there is no single methodology of controlling disruptive development in transformation conditions caused by the need for reindustrialization and digitalization of the country’s economy. Besides, there are not any projects on creating a set of theoretical and practical tools adapted to the Russian institutional specificity aimed at increasing strategic technological competitiveness of the industrial complex and achieving global technological leadership including justification of the practicability of technological modernization of industrial enterprises which would take into account the specificity of the modern stage of the Russian economics’ development. So, the authors have conducted research to reveal the essence of the technological modernization of industrial enterprises by means of grouping basic approaches to this definition. As a result they also suggested classification of the basic types of strategies for technological modernization at the national enterprises.

scholarly journals The Behavioral Aspect of Economic Growth

2021 ◽  
Vol 8 (523) ◽  
pp. 13-18
Author(s):  
T. M. Panevnyk ◽  
◽  
N. K. Bolgarova ◽  
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Economic Development ◽  
Behavioral Economics ◽  
Significant Influence ◽  
Analytical Models ◽  
Behavioral Factors ◽  
Global Competitiveness ◽  
Behavioral Aspect ◽  
Quality Of Life Index

The article discusses the essence and significance of behavioral economics. The need to take into account the instrumentarium of behavioral economy in the process of solving socio-economic problems is substantiated. The macroeconomic indicators of development of Ukrainian economy are analyzed. Ukraine’s place in the world ranking in terms of GDP per capita is considered. The integrated assessment of the overall economic activity of the country using the Global Competitiveness Index (IGC), the Human Development Index (HDI), and the index of Quality of Life Index by Country are carried out. International comparison of economic growth indicators is highlighted. The dynamics of total income, expenses, savings of the population are analyzed and the significant influence of behavioral factors on decision-making in this sphere is identified, their relationship at both micro and macro levels is disclosed. A significant influence of behavioral factors on decision-making on consumption, expenses and savings is identified, their importance in crisis situations is emphasized. It is proved that the behavioral aspect of economic growth involves not just the inclusion of psychological factors in the classical analytical models, but a combination of microeconomic components with macroeconomic ones. The need to expand the analysis of economic development based on taking into account the behavioral aspect as the driving force of economic development is substantiated. It is noted that the instruments of behavioral economics should be used in the process of developing and conducting socio-economic policy. It is defined that the behavioral economy is one of the instruments that strengthens the possibilities of effective decision-making by the actors together with their impact on socio-economic processes.

scholarly journals The Influence of Interest Rate Liberalization on Commercial Banks and Its Countermeasures

2020 ◽  
Vol 9 (1) ◽  
pp. 34
Author(s):  
Mengting Jiang
Keyword(s):  
Economic Development ◽  
Interest Rate ◽  
Commercial Banks ◽  
Economic Situation ◽  
Financial Reform ◽  
Interest Rate Liberalization ◽  
Loan Spread ◽  
Current Economic Situation ◽  
The Impact

<p>The liberalization of interest rate is an important part of the financial reform in China under the current economic situation, and it is the inevitable result of the economic development of China to a certain extent. With the deepening of interest rate liberalization reform in China, commercial banks have been affected to a certain extent; the deposit and loan spread, which accounts for the main income of commercial banks, has been narrowed, and the profit space of commercial banks has been further reduced. Therefore, this paper discusses the impact of interest rate liberalization on commercial banks and the choices that commercial banks should make under this situation.</p>

scholarly journals The impact of migration on the competitiveness of the region and industry development

2021 ◽  
Vol 307 ◽  
pp. 02003
Author(s):  
Stanislav Kotenko ◽  
Hanna Shvindina ◽  
Iryna Heiets
Keyword(s):  
Economic Development ◽  
Regional Competitiveness ◽  
Foreign Earnings ◽  
Industrial Enterprises ◽  
Need To Evaluate ◽  
Migrant Households ◽  
Almost All ◽  
Intellectual Potential ◽  
The Impact ◽  
Comprehensive Indicator

The impact of migration on Ukraine is multifaceted. It increases the threat of depopulation, leads to losing a part of the labour and intellectual potential, and thus, may become a factor inhibiting economic development. Today, there is a shortage of workers in almost all activities, especially in industry and construction. At the same time, according to scientists, in the absence of migration, unemployment in Ukraine would be 36.7% higher. Due to foreign earnings, the quality of life in migrant households is improving. Increasing consumer demand can contribute to the economic development of both individual regions and the country as a whole. This article aims to analyse the impact of migration processes on the regional competitiveness. Social, economic, and demographic factors should be taken into account when forming a comprehensive indicator of regional competitiveness. There is a need to evaluate the weight of individual factors and the mechanism of their impact on a comprehensive indicator of the regional competitiveness. Considering the findings of previous studies, the important role of industrial enterprises in assessing the level of regions' competitiveness is emphasized; it is necessary to study in more detail the relationship of migration processes and industrial potential of the region/country.

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