The Revival of Protectionism in the Modern World: Case Study of Uzbekistan

Since the publication of The Wealth of Nations by Adam Smith, in which market-based economy free from government interventions was systematically defended, economics and philosophy have mostly parted ways, culminating in a clear distinction between how most economists and philosophers view the global economic order. Although it is now clear that trade liberalization, unlike protectionism, paves the way for economic development, many still argue that the countries are better off implementing protectionist measures. Even the developed countries today seem to slowly return protectionist policies, while the developing ones commonly employ them fully. In this research work, the author will analyze the recent trends in trade policymaking as well as conduct a case study of Uzbekistan to see what impact the decades of protectionism and recent trade-liberalization reforms made on the country’s economic growth. The aim of the work is to identify and reveal the features of new protectionism in the context of globalization of the world economy and the related contradictions and to provide recommendations for Uzbek authorities based on the empirical findings. There is a very limited number of researches made in the field of trade policy in Uzbekistan, therefore this work will contribute to both Uzbekistan and global scientific societies, as the case study can be used to improve the current situation in the country, as well as it can be applied to the countries of a similar economic background (precisely present at the same geographic region) for the same purposes. The hypothesis proposed for this research is: When the country implements high protectionist measures it faces lack of money inflow, which consequently leads to a slow-down in economic growth.

The Impact of Board Capital on Internationalization of SMEs: Initial Theoretical Considerations

The study aims to investigate the relationship between Board capital and internationalization of SMEs. The study implements a systematic review and synthesis of scientific literature. The article presents useful insights into the concept of Board capital, Agency, Resource dependency, Institutional theories, and Resource-Based view. These theories give us a better understanding of Board capital, the firm’s management and behavior. The analysis of recent studies suggests that external members of the Board might positively affect internationalization outcomes and be useful in overcoming obstacles during the initiation of international activities. Nevertheless, international entrepreneurship literature is still lacking studies considering Board capital. A deeper investigation of Board capital factors impacting the internationalization of SMEs can be stated as a future research direction.

Forecast of Latvian Age Structure

Using the developed mathematical model for forecasting population and age structure in Latvia, the structure of different generations in Latvia has been calculated. This model is based on generally available statistics on the population and birth rates in 1990-2018. Using these data, we have calculated coefficients that characterize the annual decline in population due to mortality and migration. Using fertility indicators in each fertile group, forecasts of births for the coming years are made, and the estimated population in Latvia is calculated. Forecasts are extrapolated to 2050. The forecast shows that in 2050 the population in Latvia will decrease to one million. Using generic population breakdown by generation, the number of people in each generation in Latvia has been calculated from 2018 onwards. On the basis of this calculation, an overview of the proportions of generations in the Latvian labor market over the years has been developed. Based on forecasts of demographic structure, it is calculated what proportion of workers in Latvia will be formed by popular age group – Millenials. It is shown that this generation’s proportion will exceed 40% of the number of employees already in 2030.

Transformation of Loyalty to E-loyalty

As everyday life moves to the Internet, many factors and components have come up, with the "e" and e-loyalty not an exception. The authors focused on the transformation of loyalty to e-loyalty. It is important to understand the main differences between consumer loyalty models and e-loyalty models in order to promote business development not only in the traditional environment but also in the online environment. Such research methods as comparative analysis, analysis of the scientific literature, content analysis were used. The main focus of the research was on comparing loyalty models in the traditional and e-environment to find out the peculiarities and main features of the e-environment. New factors that influence loyalty in the Internet environment, but not in the real world, were highlighted as the main results. All the new influencing factors are related to the company’s operation directly in the Internet environment and technical capabilities, as well as online communication. As a result, factor groups influencing the primary and secondary e-loyalty were found . This is an important topic of the 21st century, enabling businesses to move online mode and change their strategy according to the e-environment.

Regulation of the Multilevel Transfer System of Innovations for Sustainable Development

The abstract analyses provision of the regulatory issues of environmental modernization of the national economy. It presents new scientific approaches to the transfer system of innovations for sustainable development. It also focuses on principles and mechanism of transfer.

Evaluation of Green Marketing Performance: A Methodological Perspective

Green marketing has drawn the attention of academics and practitioners during the last few decades. However, no holistic framework has been developed on how to evaluate the implementation of green marketing orientation at the organization level. The article has an objective to analyze methodological perspective of evaluation of green marketing. Authors have identified that questionnaires, interviews, and observations are the most common methods chosen for the evaluation of green marketing performance. The evaluation of green marketing performance can be based on particular scales applicable for the evaluation of green marketing. This study enriches the literature by building a base for the formulation of benchmarks for the evaluation of green marketing performance in contemporary organization. Results of the research have shown that green marketing performance should be undertaken at strategic, tactical and operational levels.

Risk Assessment and Quantification in Manufacturing Enterprise

In this research first time in Latvia a multidimensional risk assessment is carried out in a manufacturing enterprise in the pharmaceutical industry according to the only international risk management standard ISO 31000:2018. The key multisided risks were identified and prioritized in the manufacturing pharmaceutical enterprise by applying the common metrics method: obtaining evaluations of risk occurrence and impact severity, made by the two highest levels of enterprise management, i.e. Board and senior line managers. A Top 10 of key risks was created from identified 64 different risks and the convergence and divergence in the risk rankings, evaluated by the enterprise’s Board and senior line management were obtained and analyzed. The main conclusion is that manufacturing enterprises in the pharmaceutical industry have specifics regarding exposure to multisided risks, where the main key risk is a regulatory risk and not different financial risks. Different rankings of enterprise operational risks, investment assessment risks, technological innovations risks made by the enterprise Board and senior line managers are signalling that exactly in these directions of the enterprise’s business activities it is necessary to review the strategic and operational planning with the aim to mitigate the potential risk impacts.

Modern Ways of Working: Comparing Results of Two Pilot Studies

This article provides a concise look into the theoretical basis and two small pilot studies which serve as the beginning of a further research collaboration, and have been done in 2018-2019 in service industry companies in Riga (Latvia) and Timisoara (Romania). The objective of these studies was to find the respondents’ knowledge about new ways of working (full or partial remote work, co-working spaces, etc.), as well as their personal fit with these types of work, among other questions. Results of these studies show that there is a significant difference between the theory, the respondent answers, and the actions of their organizations. Main recommendations: there is no single correct approach, it has to be aligned with the business strategy and the actual work specifics of various departments or positions in the company. Problems faced by the workforce must also be taken into account, instead of aiming to decrease office costs as much as possible by creating hot-desking or other similar open office layouts.

Increasing Trends of Tourist Flows from the European Countries to Georgia

Tourism is developing in Georgia and it is the fact that the exemption of visa limitations has had an important impact on the growth of tourist flows. It may be assumed that significantly increased flows of EU citizens to Georgia in recent years are an immediate result of the liberal visa policy. Research methodology: methods of statistical observation, grouping and analysis were used in the research process. The number of total visitors to the country and that from the European Union increases annually. As the data of 2018 suggest, the visits to Georgia for 72.9% of the international visitors were recurring, while 27.1% of the visitors were on their first visit in Georgia. Visits from the EU are most common in the III quarter of the year, i.e. in summer. EU visitors are mostly from Poland, Germany, UK, France, Lithuania and other countries. Most visitors are of the 26-35 age group. The most visited place is Tbilisi. The visits from the EU show a generally increasing trend, with the greatest increase fixed in 2018 as compared to the previous year; men dominate among the international visitors. The EU countries show a similar regularity; as to the age categories, 31-50 age group dominates among the international visitors and 26-65 age group dominates among the EU visitors; a leading country with the largest number of visits from the EU is Poland; the degree of satisfaction is high, with only 1.7% of the international inbound visitors being discontent.

Formation of Emotional Climate in Human Resource Management

Research is concentrated on efficient human resource management while pursuing organizational goals and benefits for every employee and organization as a whole. Under the requirements of global market, managers expect their subordinates to be effortlessly managed, confident, dynamic in completion of assigned tasks, and ensuring maximum work efficiency. Such a possibility is theoretically analysed in this article by employing deductive thinking in interdisciplinary integration. The article describes the formation of employee emotional climate, which has impact on employee behaviour in individual as well as in team work, based on application of human resource evaluation factor with contribution of manipulations. Hypothetical presumptions resulted in assumptions that have shown dominance of disjunction (or); it means that interaction between alternatives is impossible. Therefore, logical interactions were prepared on the basis of deductive thinking by usage of Law (or principle) of the Excluded Third. These logical interactions resulted in models of emotional climate formation.