scholarly journals INVESTMENTS EFFICIENCY AND ECONOMIC GROWTH: A COMPARATIVE ANALYSIS OF NORTH MACEDONIA AND ALBANIA

2019 ◽  
Vol 31 (5) ◽  
pp. 1381-1389
Author(s):  
Jeton Mazllami ◽  
Brikend Aziri
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Point Of View ◽  
Investment Efficiency ◽  
The European Union ◽  
Macroeconomic Indicators ◽  
Prestigious Institution ◽  
Output Ratio ◽  
Ending Process ◽  
The Impact

The Western Balkan countries have undergone quite a difficult and process of transition; although for some of them transition seems to be a never-ending process. In their trip towards the European Union these countries are faced with almost identical economic, social and political problems. Regardless, the fact remains that the first sign of a stable and prospering national economy, is having appropriate macroeconomic indicators. Seen from a macroeconomic point of view, investments are an important part of the income and expenditures model, in which they are considered an injector factor. On a macro-plan, the theory of investments is based on the multiplayer effects. This makes investments an important pillar for each national economy as well as a major factor contributing to economic growth. The World Bank as a prestigious institution, recommend ICOR as one of the most useful tools for determination of the impact of investment on economic growth. This indicator is also useful when it comes to make country comparisons. Therefore, the Incremental Capital-Output Ratio (ICOR) is used in determining the efficiency of investments in Northern Macedonia and Albania. Our preliminary assumption is that investment efficiency in both countries is low. Therefore, the main rationale behind the paper is to determine whether this assumption is correct or not.

scholarly journals Construction Waste Production in Macroeconomic Context

2021 ◽  
Vol 1203 (2) ◽  
pp. 022080
Author(s):  
Martin Marek ◽  
Jana Korytárová
Keyword(s):  
National Economy ◽  
Point Of View ◽  
Construction And Demolition Waste ◽  
Total Production ◽  
The European Union ◽  
Demolition Waste ◽  
Construction Waste ◽  
Waste Production ◽  
The Impact ◽  
The Eu

Abstract This article aims at presenting the economic impacts of implementing the basic principles of construction demolition waste management in terms of saving construction costs. Emphasis is placed on fulfilling the 3R principle, i.e. reducing waste, reusing it, and recycling resources and products. Construction and demolition waste represents the largest mass waste flow in the EU, e.g. in 2018, it represented 36% of the total waste production in the whole EU- 27. The European Union is gradually introducing measures to reduce the production of construction waste compared to the Czech Republic, where the share of construction demolition waste on the total production was up to 42% in 2018. This value exceeds the EU-27 average. The article analyses available statistical data from the national CZSO and the European statistical office EUROSTAT on the waste production classified according to EWC-STAT, which is a classification of waste according to Directive No. 2150/2002. Items monitoring the waste produced by the construction industry are listed on the 41st to 43rd place of the EWC-STAT list of all monitored waste. The data obtained allows comparing three branches of construction production, the 41st Building construction, 42nd Civil engineering, and 43rd Specialized construction activities. Another possibility to obtain data is to use a division according to the waste producer economic activity (CZ NACE). The data obtained in this way is compared with the performance indicators of the national economy. By comparing the size of the construction demolition waste production with the performance of the national economy (especially the GDP indicator), the degree of their interdependence was determined. The aim of the analysis is to assess the relation between the country’s economic performance and the production of construction and demolition waste. The next step was to perform an analysis from the point of view of the 3R principle in order to examine the impact of measures to reduce the construction demolition waste production in connection with the already initiated processes of its possible recycling or reuse.

scholarly journals The Investments Efficiency Toward Economic Growth: ICOR of the Republic of Croatia and Slovenia - Comparative Analysis

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Jeton Mazllami ◽  
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Developed Countries ◽  
Investment Efficiency ◽  
Specific Objective ◽  
National Economic ◽  
The World ◽  
Output Ratio ◽  
The Republic ◽  
The Impact

Most developing and developed countries, today are faced with a lot of economic, social, and political challenges as a result of internal or external factors such as the World Financial Crisis and Covid19. In these circumstances, the crucial objective of any government is to improve the national economic performance by increasing domestics and foreign investments. Investments efficiency is the main pillar in the increase of the economic growth of any economy. This paper aims to measure the efficiency of the investments towards economic growth in the Republic of Croatia and Slovenia by applying a comparative analysis. The specific objective of our paper is to determine the best ICOR level, the correlation between ICOR and GDP, and the impact on the economic growth of both countries. The research methodology will include the analysis of the efficiency of the investment measured by the indicators Incremental Capital-Output Ratio (ICOR) based on the World Bank approach. The period of observation includes the period from the year 1995 to 2020. The investment efficiency (ICOR) in both countries is expected to move between 1 and 6. The findings of this research are that each one-point decrease of the ICOR level of Croatia increases the economic growth by 1.961 percent, while the ICOR level of Slovenia increases less the Economic growth by 0.259 percent.

scholarly journals Modelling the Impact of Institutional Environment on Key Macroeconomic Indicators

2019 ◽  
Vol 9 (1) ◽  
pp. 6957-6963
Keyword(s):  
Economic Growth ◽  
Institutional Environment ◽  
Institutional Development ◽  
Point Of View ◽  
Institutional Factors ◽  
Macroeconomic Dynamics ◽  
Institutional Variables ◽  
Macroeconomic Indicators ◽  
Main Components ◽  
The Impact

The characteristics of the dynamics of the main macroeconomic indicators are important indicators of the state and prospects of the country's economy as a whole. Interest in the study of macroeconomic dynamics is ensured by the uneven growth rates of the main macroeconomic indicators (GDP, consumption, investment) of different countries, as well as the growing lag of the poorest regions of the world from the leading ones in terms of economic development. Existing studies do not fully explain the differences in the behavior of macroeconomic indicators in countries whose economies are comparable for most of the fundamental factors considered. Recently, institutional factors have been used to explain these differences. The insufficient level of development of institutions limits economic growth; this problem is especially relevant in modern countries. Part of the resources is spent on protecting property rights, on overcoming barriers associated with corruption. To overcome the lag in institutional development, it is necessary to identify the mechanism of the influence of institutional parameters on macroeconomic indicators and assess the feasibility of improving various institutions from the point of view of further economic growth. The proposed approach to forecasting macroeconomic indicators taking into account the main components of the group of institutional variables can be applied directly in the process of building forecasts. It is also worth noting the proposed method of testing the hypothesis of a better forecast, which allows you to get results that are independent of the specification of the model.

scholarly journals Methodology for assessing the impact of institute on sustainable economic growth

2021 ◽  
Vol 258 ◽  
pp. 06014
Author(s):  
Evgenia Zakharova ◽  
Elena Zemtsova
Keyword(s):  
Economic Growth ◽  
Institutional Theory ◽  
Climatic Factors ◽  
Empirical Work ◽  
Point Of View ◽  
Global Inequality ◽  
Econometric Methods ◽  
Macroeconomic Indicators ◽  
The Impact

The paper presents an overview of methodological approaches to the study of the influence of institutions on macroeconomic indicators characterizing long-term economic growth, although other indicators that are influenced by institutions can be identified: economic growth rate, GDP per capita, saving rate, and total factor productivity. The article analyzes the research of leading scientists conducted within the framework of the institutional theory that explains global inequality and some of its features. In addition to the institutional theory, two more theories compete to explain the causes of global inequality: geographical theory and the theory of cultural influence. Both of these theories are unpromising from the point of view of practical applicability, since geographical, climatic factors, cultural characteristics are not subject to the influence of economic policy within reasonable time limits. Institutional theory explains the inequality of countries by differences in their formal legal and informal social norms that govern the behavior of individuals and structure social interactions. The growing volume of empirical work of this kind has shown that institutions should be considered in the context of alternative approaches (culture and social capital, human capital), alternative econometric methods and alternative strategies for identifying the influence of institutions on macroeconomic indicators (long-term economic growth).

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

Party-Political and Socio-Economic Сonsequences of Elections to the German Bundestag

2021 ◽  
pp. 24
Author(s):  
V.B. Belov
Keyword(s):  
Point Of View ◽  
The European Union ◽  
Social Democrats ◽  
The Social ◽  
Angela Merkel ◽  
The Face ◽  
German Bundestag ◽  
The Impact ◽  
Further Development

The article examines the results of the last Bundestag elections. They marked the end of the Angela Merkel era and reflected the continuation of difficult party-political and socio-economic processes in the informal leader of the European Union. The main attention of the research focuses on the peculiarities of the election campaign of the leading parties and of the search for ways of further development of Germany in the face of urgent economic and political challenges. These challenges include the impact of the coronavirus crisis, the impact of the energy and digital transition to a climate-neutral economy, and the complex international situation. Based on original sources, the author analyzes the causes of the SPD victory and the CDU/CSU bloc defeat, the results of the negotiations of the Social Democrats with the Greens and Liberals, the content of the coalition agreement from the point of view of the prospects for the development of domestic and foreign policy and the economy of Russia's main partner in the west of the Eurasian continent. The conclusion is made about the absence of breakthrough ideas, the consistent continuation of the course started by the previous government for a carbon-free economy and the strengthening of the role of Germany in Europe and the world. For this course, conflicts and problems in achieving the set goals will be immanent due to the compromising nature of the coalition agreements.

scholarly journals Innovative Approach to Measuring the Impact of FDI on Some Macroeconomic Indicators in B&H

ECONOMICS ◽  
2018 ◽  
Vol 6 (1) ◽  
pp. 7-15
Author(s):  
Slobodan Subotić ◽  
Živko Erceg ◽  
Vladimir Marković ◽  
Goran Mitrović
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
National Economy ◽  
Direct Investment ◽  
Economic Life ◽  
Capital Export ◽  
Economic Surplus ◽  
Macroeconomic Indicators ◽  
Relationship Of ◽  
The Impact

SUMMARY The necessity of economic life and economic development of every economy is the free movement of capital. The international movement of capital has its balance of payment when capital export represents economic surplus in relation to consumption of the national economy and the import of capital represents an increase of consumption in regard to the output of a national economy. Analysis of the influence of foreign direct investment (FDI) on economic growth of the host country, among other things, is emphasized in the function of the achieved phase of its economic development. Taking all this into consideration, the aim of this paper refers to an attempt to indicate the significance and the role of FDI as well as the importance of attracting foreign direct investment in B&H and the determination of the effects of FDI on the economy of B&H. In this regard, we will try to determine the level of FDI’s impact on some macroeconomic indicators in B&H (GDP, import, export, unemployment) by using contemporary SPSS statistical analysis program (model) and applying the methods (calculating coefficients) of correlation and regression analysis. In other words, we will determine the analytical expression used to describe a statistical relationship of these macroeconomic categories.

scholarly journals WORLD EXPERIENCE: COMMERCIAL BANK CREDIT AND ECONOMIC GROWTH RELATIONSHIP

2020 ◽  
pp. 6-19
Author(s):  
Davit Aslanishvili
Keyword(s):  
Economic Growth ◽  
Large Scale ◽  
Banking Sector ◽  
Point Of View ◽  
Bank Credit ◽  
Main Function ◽  
Economic Point ◽  
Market Factors ◽  
Credit Portfolio ◽  
The Impact

This research focuses on the problem of large scale disproportion of success in the development of the banking sector and mostly unsuccessful development of the real sector of the economy. It should be noted that this disproportion is a subject of consideration in contemporary economic literature and our research is an attempt to broaden the issue and share ideas inside the international scientific circles. The main problem in the research is the impact of the banking sector's credit portfolio and the functioning of credit markets on the economic growth of the country. In this regard, it is very important to identify, study the macroeconomic stabilization and accelerated economic growth of the country and analyse the impact mechanisms of the credit market factors on economic growth. The conclusion that combines many of the research and opinions given in the survey can be as follows: From the economic point of view, the main function of banks is to increase the financing/lending of funds as the core point to increase investments in the economy. Thus, the development of the country in economic terms depends on the increase of investments. At present, it is in the hands of the banking sector whether to lead us to economic immobility or to accelerate the country's economic development through efficient allocation of resources.

scholarly journals Are Business Regulations Improving Economic Growth? Case Study between ASEAN and European Union

2021 ◽  
Vol 9 (1) ◽  
pp. 44-53
Author(s):  
Karuniana Dianta Arfiando Sebayang ◽  
Belinda Febrina
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Gross Domestic Product ◽  
Quantitative Research ◽  
Domestic Product ◽  
The European Union ◽  
Doing Business ◽  
Ease Of Doing Business ◽  
Business Regulations ◽  
The Impact

Economic activities require a transparent regulatory and policy environment that is accessible to all levels of society. This study aims to explain the impact of ease of doing business on economic growth in both ASEAN and the European Union since doing business indicators applied globally. Gross Domestic Product is used as a proxy variable for economic growth as Gross Domestic Product is an indicator to measure economic growth. This study uses a descriptive quantitative research model and uses multiple regressions to determine the effect of ease of doing business on economic growth in ASEAN and the European Union by comparing the result of each ASEAN and European Union. In this study it was found that in ASEAN, there are four indicators of doing business have significant impact to economic growth, while in the European Union five indicators have significant impact to economic growth.  

scholarly journals THE CONTRIBUTION OF MIGRATION TO ECONOMIC GROWTH: THE EXAMPLE OF THE CITY OF ZAGREB

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Vinko Miličević ◽  
Danijel Knežević ◽  
Zoran Bubaš
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Activity ◽  
Economic Benefits ◽  
Gdp Per Capita ◽  
The European Union ◽  
Per Capita ◽  
The Republic ◽  
The Impact ◽  
The City

The problems in this paper belong to the field of migration and economy. The connection between migration and the economy has been proven on a global level, and as far as the Republic of Croatia is concerned, it is especially important to observe it through the City of Zagreb, which is the most important migration and economic center in the Republic of Croatia. Also, the accession of the Republic of Croatia to the European Union emphasized the observation and research of this connection because it created the preconditions for freer movement and employment of the population of the Republic of Croatia and the City of Zagreb within the European Union. The aim of this paper is to determine the contribution of migration to the economic growth of the City of Zagreb. The hypothesis presented in the paper is that there is a significant contribution of migration to the economic growth of the City of Zagreb. The disposition of the paper consists of six parts. The introduction explains the relevance of the topic, states the aim of the paper and hypotheses, explains the empirical part, the contribution of the paper and the disposition. The second part of the paper refers to the theoretical framework of the impact of migration on economic growth. The third part of the paper presents the migration processes of the City of Zagreb in the period from 2011 to 2018. The fourth part deals with economic activity in the City of Zagreb in the period from 2011 to 2017. The observed indicators of economic activity in the City of Zagreb are GDP and GDP per capita, and the graph in this part of the paper shows that GDP and GDP per capita in the observed period are higher at the end of the period than at the beginning. The fifth part of the paper refers to the empirical research of the contribution of migration to the economic growth of the City of Zagreb. The empirical part of the paper is based on correlations and regression analyses. This paper proves the hypothesis because the results indicate a significant impact of the variables of total and external migration on the GDP of the City of Zagreb and GDP per capita of the City of Zagreb. Decision-makers in the City of Zagreb can use the results of the research as a basis for maximizing the economic benefits they can get from migration. The conclusion provides an overview of the aim of the work, the results of the research, the limitations, the implications and the recommendations for future research.

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