Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Lately, there have been many questions from specialists regarding the accountability of cryptocurrency. The lack of a legislation has allowed them to be interpreted as either intangible assets or stocks, even though Romania owns the biggest transaction platform in Eastern Europe (Bitcoin Romania). National Bank of Romania (NBR) acknowledges the lack of regulations and supervisions regarding cryptocurrency, regarding them as “speculative assets, extremely volatile and risky”. Simultaneously, this brings to attention the fact that these are not national coins nor currencies, and accepting them as a payment method isn’t, legally speaking, mandatory.

The Markov Process as a Model of Migration Based on the Example of the Movement of Banknotes

This paper presents a way of using the Markov chain model for the analysis of migration based on the example of banknote migration between regions in Poland. We have presented the application of the methodology for estimating one-step transition probabilities for the Markov chain based on macro-data gathered during the project conducted in the National Bank of Poland (NBP) in the period of December 2015–2018. We have shown the usefulness of state-aggregated Markov chain not only as a model of banknote migration but as migration in general. The banknotes are considered here as goods, so their migration is strictly related to, inter alia, the movement of people (commuting to work, business trips, etc.).Thus, the gravity-like properties of cash migration pointed to the gravity model as one of the most pervasive empirical models in regional science. Transition probability of the Markov chain expressing the attractive force between regions allows for estimating the gravity model for the identification of relevant reasons of note and, consequently, people migration.

Bezpieczeństwo ekonomiczne Republiki Białoruś w dobie kryzysu polityczno-gospodarczego lat 2020-połowa 2021

Republic of Belarus begins the third decade of the 21st century with numerous problems, which include the unstable socio-political situation, broken dialogue and relations with the international environment, and Western sanctions. All these factors have caused a lot of turbulence in the Belarusian economy. This article is an attempt to examine the economic security of Belarus in the period of the depletion of the current economic model, the reduction of Russian energy subsidies, the Covid-19 pandemic and the political crisis resulting from the rigged presidential elections in August 2020. Data from the Belarusian Bielstat database, the National Bank of the Republic of Belarus, the World Bank, the International Monetary Fund, and rating agencies will be used as source materials.

Developments and convergence of real housing prices in Poland during the COVID-19 pandemic: focus on voivodeship capitals

The paper aims to present and assess the changes in real housing prices in Poland during the COVID-19 pandemic. We analyse transaction prices of residential premises in a multi-family housing (apartments) in the primary and secondary markets within 16 administrative capitals of voivodeships. We use quarterly data on House Prices Database collected by the National Bank of Poland and data on quarterly price indices of consumer goods and services from Statistics Poland. The research period covers the period 2018-2021, with distinction into COVID-19- and pre-COVID-19 periods. We observe the highest housing prices in Warszawa, Gdańsk, Kraków, and Wrocław, while the lowest in Zielona Góra and Kielce. Surprisingly, the growth rate in real housing prices in the pandemic sub-period is lower than in corresponding pre-COVID-19 period. In the COVID-19 sub-period, we observe the most significant increases in real estate prices in Zielona Góra and Szczecin in the primary market, and Kraków, Lublin, and Łódź in the secondary market. Additionally, we reveal the existence of regional price convergence in the housing market in analysed cities, both in primary and secondary markets. However, we do not observe a common price convergence, but only convergence clubs (city-groups) where the housing prices tend to converge in the COVID-19 sub-period.

Monetary and exchange policy of Kazakhstan: current problems and ways of improvement

The National Bank of Kazakhstan continues to pursue monetary policy in accordance with the principles of inflation targeting. As part of the medium-term strategy, the National Bank has reduced the target inflation corridor by one percentage point in 2020. Due to the global crisis of recent years, the National Bank has set a task to keep the inflation rate in the 4-6% corridor to stabilize the economy. The inflation rate at the end of 2020 was 7.5%. The National Bank has set a task to reduce this indicator to the level of the target corridor of 4-6% in 2021. Also, in conducting monetary policy, the National Bank has made decisions that have an anti-inflationary effect for the medium term, that is, the target level will decrease by 4% in 2021 and beyond. The preservation of monetary conditions by the regulator at a neutral level was characterized by a decrease in short-term rates after slow inflation. In 2019, against the background of a further decrease in inflation, it was decided to raise the base rate. At the same time, market participants may regard monetary conditions as the beginning of tightening. In Kazakhstan, the financial regulator sets the rate depending on the size of real and expected inflation in the country, external factors that determine the state of the balance of payments, as well as taking into account the need to maintain economic development. The article discusses the methods of conducting the monetary and monetary policy of Kazakhstan, as well as issues and ways to improve it.

Comparison of the Approach of the Czech National Bank and the European Central Bank to the Effects of the Global Financial Crisis

The latest global crisis, which fully erupted in 2008, can have a significant impact on central banks credibility in the long run. During the last crisis, monetary authorities encountered zero interest rate levels and, as a result, started to use non-standard monetary policy instruments. The Czech National Bank decided to use a less standard instrument in November 2013, when it started to intervene on the foreign exchange market in order to keep the Czech currency at level 27 CZK / EUR. However, the European Central Bank also adopted a non-standard instrument, when chose a path of quantitative easing in 2015 in order to support the euro area economy by purchasing financial assets. The question remains whether the approach of Czech National Bank or the approach of European Central Bank in the crisis and post-crisis period was a more appropriate alternative. With the passage of time from the global financial crisis, it is already possible to compare the approaches of these two central banks and at least partially assess what approach was more appropriate under the given conditions. When comparing the central banks approaches to the crisis, the Czech National Bank was better, both in terms of the rate of interest rate cuts and the resulting inflation with regard to the choice of a non-standard monetary policy instrument. The recent financial crisis has revealed the application of moral hazard in practice, both on behalf of the European Central Bank and the Czech National Bank, which may have a significant impact on their credibility and independence in the coming years.

Managerial Styles and Employee Productivity. An Empirical Study From Bank Sector Employees in Greece

The aim of the paper was to assess the level to which managerial styles in an organization affect employee performance among selected banks in Greece. The study focused on three major managerial styles which include; democratic, autocratic and participatory styles of management. The study utilized a descriptive research design and an online survey was used to collect relevant data from different employees attached to selected banks in Greece (National Bank of Greece, Piraeus Bank, Citibank Greece, and HSBC Greece). The survey targeted 220 employees though only a response rate of 87.3% was obtained based on 200 employees that answered questions contained in the survey questionnaire. The different study findings showed that all the managerial styles are positively associated with employee performance except autocratic managerial style which had a positive but insignificant relationship with employee performance. The study concluded that it is very important for managers to continuously apply different innovative managerial styles in executing their duties since this has a great impact on the general performance of employees.

Barriers Faced by Agripreneurs in Starting and Operating Agriventures under ACABC Scheme: An Analysis

The ACABC (Agri Clinics and Agri Business Centres) scheme is being implemented by Ministry of Agriculture and Farmers’ Welfare, Government of India, with National Bank for Agriculture and Rural Development (NABARD) (“NABARD-National Bank For Agriculture And Rural Development” n.d.) acting as subsidy channelizing agency and National Institute of Agricultural Extension Management (MANAGE) will be responsible for providing training to eligible candidates, through Nodal Training Institutes (NTIs) and motivating them for setting up of Agri-Clinics and Agri-Business Centres. Whereas the Nodal Training Institute (NTI) is desirous of undertaking to implement the training and handholding component of the said Scheme with MANAGE (“MoU-ACABC” n.d.). JNKVV, Jabalpur is a Nodal Training Institute (NTI) of MANAGE, Hyderabad for providing training on Agripreneurship under the Agri-Clinic and Agri. Business Centre scheme 2010 (www.agriclinics.net) of Govt. of India, Ministry of Agriculture, Department of Agriculture and Cooperation. (“Revised Guideline ACABC-2010” 2011). The present study was conducted in Jabalpur district of Madhya Pradesh state during 2014 to 2020 and based on the primary data collected through field survey by personal interaction, telephonic interaction, pre-tested questionnaires from 60 sample agri-graduates of NTI. Used statistical methods such as frequency, score and percentage to find this out the problems of agripreneurs in establishing and operating agriventures after successful completion of training programme. In the results, it was found that lack of own fund to start venture, status of confusion between job or entrepreneurship, lack of proper handholding support from NTIs, lack of family support, lack of business and field experience (Managerial and technical), high rate of interest on loan and a difficulty bank documentation process in getting bank loans were the major problems in establishing agriventure, while heavy competition from existing market players, marketing and infrastructural problems, perishability and seasonability of products, fluctuation in demand and prices of products, illiteracy and lack of knowledge of the farmers and insufficient working capital to run the business were the major problems faced by agripreneurs in operating agriventure (Lal et al. 2015). Thus, the present study mainly focused on the major problems faced by agripreneurs in starting and operation of agriventures under the agriclinic and agribusiness centre (ACABCs) scheme.

National Bank for Agriculture and Rural Development (NABARD)

Indian economy is agricultural economy and real India lies in villages. Without the development of the rural economy, the objectives of economic planning cannot be achieved. Hence, banks and other financial institutions are considered to be a vital role for the development of the rural economy in India. NABARD are playing a pivotal role in the economy development of the rural India. In the Indian context rural development assumes greater significance as nearly 70% of its population lives in rural areas. Most of the people living in rural area draw their livelihood from agriculture and allied sectors. Such areas are distinct from more intensively settled urban and suburban areas. Life styles in rural area are different than those in urban areas, mainly because limited services are available. Governmental services like law enforcement, schools, fire departments may be distant, limited in scope, or unavailable. Rural development is a national necessity and has considerable importance in India. The main objective of the rural development programme is to raise the economic and social level of the rural people. National Bank for Agriculture and Rural Development (NABARD) is set up as an apex institution by the Government of India with the main objective of providing and regulating credit and other facilities for the promotion of rural development. It is a single integrated organisation which looks after the credit requirements of all types of agricultural and rural development activities. The present study is a modest attempt to the credit potential for agriculture during the year 2021-22. The study covered aspects such as functions, objectives, management and organizational structure, sources of funds, activities achieved, loan assistance to various institutions, Methodology for preparation of potential linked credit plans (PLPs) and Development Projects in Andaman and Nicobar Islands. Keywords: NABARD, Rural Development, RBI and SHGs..