The Role of Education in Economic Development: A Comparison of South Korea and Kyrgyzstan

Education plays a big role in the economic development of the country. No country can achieve sustainable economic development without educated human capital. Education helps people to understand themselves and world. It improves the quality of their lives and leads to broad social benefits to individuals and society. Education is a very important in raising productivity of people and promotes technological development. The main purpose of this paper is to identify the role of education in the economic development by comparing South Korea and Kyrgyzstan which are represents developed and developing countries of the world. South Korea, for example, is a highly industrialized and developed country which educational system is in the list of the best 10 systems in the world. In opposite, Kyrgyzstan is an agricultural country which economy is dominated by minerals extraction, agriculture, and reliance on remittances from citizens working abroad. As a result of the research it can be concluded that education is a compulsory and one of the major tools for development of one country. A developing country with a small economy such as Kyrgyzstan should take an example from South Korea and allocate much money from the national budget for the education. So, it is important for Kyrgyzstan to implement educational policy of developed countries within the framework of national policy.

The Importance of Competition Law in Economic Development

An economic system within competition is secured has fatal role for countries. Because, government has many important duties two of which are providing economic and social welfare. Protection of competition paves the way for using resources efficiently, producing cheap and quality commodities and services, providing of innovation in technology. Competition which is the basis of market economy provides suppliers and demanders come together freely in market conditions. In this way, competition means that distributing limited sources of society effectively and using these sources efficiently, providing quality and affordable commodities and services to consumers. Especially, providing global, local or national market economies processing compatible with competition law is possible by determining, accepting and implementing the universal rules which are related to competition law. It is certain that the agreements, verdicts and applications which are blocking or impairing competition in market of commodity and service should be prohibited. Also, the institutions which abuse their sovereignty of market should be prevented from doing this. Judicial control path is available for providing the implementation of rules related to competition law in other word providing sanction of preventions.

Portfolio Management Contract

This document aims to explain the portfolio management contract. Portfolio Management Contract is constitutive of a mouth certain value of wealth and portfolio called is integrally managed. By the contract, the aim is that financier wealth value direct to market expectation investment, mainly in commerce. The contract usually forms through the transport of Securities and Exchange Commission Notices. Portfolio Management Companies, whose major business line is established and management and as be found incorporated company securities and exchange commission, stockbrokers and banks, which are nonaccedding deposits, constitute the part of the contract. Counterparty is individual or corporate financier. According to general principles of Obligations Law, the contract, which does not have any mandatory condition, depends on requirement of written form with regard to notice of this/the subject. Remuneration is the essential component for Portfolio Management Contract, which has the characteristics of the anonymous contract. In this case, it has to be agreed on getting charge for servitude given by Portfolio Management Companies, stockbrokers and banks, which are nonaccedding deposits. The contract is aimed to commit the obligation with caution rather than extrapolating to a specific condition. In suitable conditions of primarily provisions of the contract of not against of this subject’s issue notices and in case of gaps, provisions of contract of mandate will be applied to the contract by comparison.

The Relationship between Socio-Demographic Factors and Internet Banking

Internet banking is becoming prevalent in recent decades. Handy applications are ubiquitous for customers. This study aims to differentiate the customers depending on several factors in internet usage. The effects of sociodemographic factors like gender, age, marital status, time spent in internet banking transactions, monthly income and level of education are tested against internet usage characteristics. Internet Banking is characterized in terms of ease and cost, reliability and usefulness. Data is collected by a survey that uses a Likert Scale; 172 respondents are reached and Kruskal Wallis H test is conducted to shed light to relations among factors and internet usage. Relationship between monthly income and reliability of internet banking transactions are significant at 95%. The relationship between İnternet banking usage and time spent in internet banking is also significant at 95%. Banks that are in competition in internet banking shall assume gender, age and marital status as indifferent but shall focus on customer involvement with internet banking and customers monthly income levels.

Optimization of the Structure of the Economy of Regions

The article reveals the negative role played by the existing sectoral imbalances in the development of the regions of the Kyrgyz Republic and substantiates the need for a qualitative transformation of the structure of the economy. An approach to optimizing the sectoral structure of the regional economy is proposed, based on the identification of priority and auxiliary industries with stable links. As a target function of optimization of the sectoral structure of the region, the coefficient of structural independence is proposed. The coefficient of structural independence is calculated as the ratio of exports and imports of industries. Using it, you can calculate the indicator of the closedness of the economic sector (system). The proposed model can be used to optimize the sectoral structure of the regions of the Kyrgyz Republic to optimize and make informed decisions in the formation of a regional industrial policy aimed at providing an accelerating increase in industrial production, stimulating exports of products with a high share of added value.

Effect of Migration on Household and Left Behind Family Members: Case of Kyrgyzstan

More than billion international and internal migrations around the world as well as the relationship between migrant and its family members have been one of the most discussed policy questions for several years. Main purpose of the paper is to examine the impact of labor migration on household, in order to address arising social problems due to the migration of family member. To find the impact, it was used secondary data named "Life in Kyrgyzstan" which is research based, open access and multi-topic longitudinal survey of households in Kyrgyzstan. It includes more than 3000 households which were recorded from 2010 to 2013. The result of the research is: there is a positive impact of remittances on child education, while negative on nonfood spending. Also housing condition is directly related with migration and significant impact can be seen in terms of facilities and type of household. Based on findings, it was provided some policy recommendations to simplicity of the social and other issues in the household of migrant's. One of the recommendations is: The Government of Kyrgyzstan should pay high attention on keeping citizens inside the country and should consider about shifting its policies which encourage labor migration, instead it should pay more attention on development of small and medium enterprise supporting method, which actually helps to create several number of job positions.

Forecasting the Bitcoin Price via Artificial Neural Networks

Bitcoin is the first decentralized innovative alternative digital currency, which was introduced in 2009 and is now one of the most widely used crypto-currencies. As digital assets, crypto-currencies utilize encryption technology and electronic payment system based on cryptographic proof instead of trust in a central authority, such as a government or a central bank. The Blockchain system, which is the underlying infrastructure for transferring any crypto-currency, is a shared form of recording that facilitates the recording of assets and transactions in an open network. Blockchain enables bitcoin transfer transactions from peer to peer without any intermediary, such as a bank or a transfer agency. In this study, artificial intelligence algorithms are developed in order to forecast the bitcoin price by taking into account monthly average prices of the previous three years.

Solar Energy in the World and Turkey

Sun comes into prominence as both a strong and clean energy source. Because of its being inexhaustible and creating an effect reducing import dependency, a noticeable progress has been made in solar-oriented technologies in recent years. In this regard, Germany as the pioneer in world, China whose installed solar capacity has overtaken Germany, and the USA and Japan which caught up Germany became benefited from solar energy significantly nowadays. Besides, the EU countries like Italy, England, France, Spain and Belgium are also raising their installed solar capacities. Turkey has relatively high solar potential compared to the EU countries. However, it is not benefiting from solar energy sufficiently. Because its setup costs are still higher than other sources, solar production requires to be carried out R&D activities intensively. For these R&D activities there is a need for big budgets. Developed countries mentioned above could have been successful in allocating these budgets. Turkey as a developing country has difficulties in this respect. The purpose of this paper is to reveal required policies and works to raise installed solar capacity and benefit more from solar energy in Turkey. In this context, primarily, policies imposed in leader countries in world with regards to benefit from solar energy will be examined. Thereafter, imposed policies and developments in Turkey until today in this respect will be mentioned. Consequently, suggestions will be made for Turkey in light of experiences of the countries that could have succeeded to benefit from solar energy by higher rates in primary sources.

The Improvement Assessment of the Tax Capacity of Regions in Uzbekistan

The last years the tax systems of the Republic of Uzbekistan have been carried out to improve by government. There is a number of changes have been particular, the most important directions of reforming the system of state tax service of the Republic of Uzbekistan. Therefore, how to implement effective measures to ensure full coverage of taxable items and expand the tax base through a system analysis of the dynamics of macroeconomic indicators and tax potential of the regions. In this article, we are discussing about improving the new way mechanism of assessment, analysis of the taxes process and tax capacity of regions.

Diversification of Economy the Republics Azerbaijan on Base Sustainable Development of Non-Oil Sector

In article experience of diversification of economy of the countries which economic complex is based on production of natural resources is investigated. In the context of the problems facing economy of Azerbaijan and in comparison to foreign countries the course and results of transformations, a role of non-oil sector in development of economy, the potential of positive impacts on country modernization and barriers on the way of realization are considered. The complex of factors – new technologies, institutional reforms, structural changes which in close interference significantly strengthened action of long-term sources of the advancing growth of branches of non-oil sector and its general economy role during the considered period is analyzed. Most important parties of transformation and diversification of economy are defined: transition of branches to modern technological base, functional complication of production, integration into the global markets. Mechanisms of achievement of sustainable development of non-oil branches of economy are characterized, influence of transformations is estimated. Need of development of the concept of sustainable development of not oil sector is noted. The purpose of article is the research of foreign experience of transformation and diversification of economy and development of recommendations about improvement of mechanisms and methods of achievement of sustainable development of non-oil branches of economy of Azerbaijan. In the context of transition of Azerbaijan to a way of innovative development it is important to compare the reached parameters of the considered sphere, to reveal common features and distinctions, to define weak links and comparative advantages of Azerbaijani non-oil sector.