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ПЕРСПЕКТИВНІСТЬ РОЗВИТКУ КРЕАТИВНОЇ ЕКОНОМІКИ В УКРАЇНІ

ПЕРСПЕКТИВНІСТЬ РОЗВИТКУ КРЕАТИВНОЇ ЕКОНОМІКИ В УКРАЇНІ

Author(s): Liubov Fedulova / Language(s): Ukrainian Issue: 37/2018

The subject of the study is the peculiarities of economic relations between economic entities in the conditions of a creative economy formation and development. of The purpose of the article is the author's vision of the peculiarities of the creative economy and the assessment of the real state of its development in Ukraine and the development of proposals for its promising directions and the solution of strategic tasks. Methodology of the work – is the position of theories of creative economy and creative industries, the concept of cultural capital. On the basis of the system approach, factors that influence the character of innovation and creative processes in Ukraine are identified. Using the methods of statistical and expert analysis, the trends of the real state of the creative economy in the country are determined. The methods of structuring and synthesis identify the strengths and weaknesses of the potential of the development of a creative economy in Ukraine and elaborate proposals for strengthening the role of creative resources in ensuring economic growth and solving social problems. The results of the work – an assessment of the state of development of the creative economy in Ukraine and the impact of factors that complicate the achievement of the goals set and require the strengthening of state policy to address the problems accumulated in society and the innovation system. Conclusions – the modern Ukrainian economy needs specific, different from the traditional economy, approaches to the definition and implementation of state policy to strengthen the development of creative industries and the formation of a model of a creative economy. Particular emphasis should be put on the creative direction in the reform of education, in particular, in the STEM-education actively involved creative, artistic disciplines by the generic term Arts.

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ФОРМИРОВАНИЕ КОНЦЕПТУАЛЬНОЙ МОДЕЛИ ОРГАНИЗАЦИОННОЭКОНОМИЧЕСКОГО МЕХАНИЗМА УПРАВЛЕНИЯ

ФОРМИРОВАНИЕ КОНЦЕПТУАЛЬНОЙ МОДЕЛИ ОРГАНИЗАЦИОННОЭКОНОМИЧЕСКОГО МЕХАНИЗМА УПРАВЛЕНИЯ

Author(s): Andrey Surdo,Marina Korsak / Language(s): Russian Issue: 37/2018

Objective: to develop a structural presentation of the content of the organizational and economic management mechanism. Research methods: abstract-logical, analysis and synthesis, induction and deduction, comparison, justification, generalization, evaluation, systemic and complex approaches. The results: typological analysis of definitions «mechanism», «economic mechanism», «organizational mechanism», «economic mechanism», «organizational and economic mechanism» was done. This allowed substantiating the content of the organizational and economic management mechanism, which is determined by: the set of interacting subjects of management and their goals; objects of target impact, realizing management functions; a variety of methods, tools and levers of management. The main principles of formation and improvement of the conceptual model of the organizational and economic management mechanism are defined: purposefulness - the mechanism's correspondence to the goals of functioning and development; systematic - ordering and structured interaction of all elements of the functioning mechanism; the maximum possible realization of the potential; adaptability - rapid response to various changes in the external environment; complexity of coverage of tasks to be solved; coherence of interests of subjects of the organizational and economic mechanism of functioning; Innovation - the orientation of the organizational and economic mechanism of functioning for innovative development. It is established that the general structure of the management mechanism should be disclosed in accordance with the specific features of the specific field of activity, the specific characteristics of the managed system and depends on the material, technical, personnel, financial, information, regulatory, scientific and methodological conditions for the operation of the control facility. As a result of the study, a conceptual model of the organizational and economic management mechanism was developed. Scope of application of the results: the developed structural representation of the content of the organizational and economic management mechanism is a universal scheme and can be applied as a basic model of the organizational and economic mechanism of functioning of the entire national economy, individual regions, and also any industry or enterprise. Conclusions: The organizational and economic management mechanism is a multifaceted, multidimensional system that contains a set of interacting subjects, methods, instruments and processes of influence. The effectiveness of the organizational and economic management mechanism is assessed by performance indicators that allow identifying the problem areas of the current mechanism, the effectiveness of the methods, tools and levers that govern the operation of the management object.

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ТЕОРЕТИЧНІ АСПЕКТИ СТАНОВЛЕННЯ ІННОВАЦІЙНОЇ МОДЕЛІ РОЗВИТКУ ЕКОНОМІКИ

ТЕОРЕТИЧНІ АСПЕКТИ СТАНОВЛЕННЯ ІННОВАЦІЙНОЇ МОДЕЛІ РОЗВИТКУ ЕКОНОМІКИ

Author(s): Vladyslava Shevchuk / Language(s): Ukrainian Issue: 37/2018

The purpose of the article is to substantiate theoretical approaches to the definition of the peculiarities and determinants of the formation of an innovative economy. For scientific research historical method, methods of analysis and synthesis, logical generalization were used. Approaches to the categories of «innovation», «innovative development» and «innovative model of economic development» are considered and analyzed in the article. These concepts are not interpreted by scientists uniquely and there is no single approach to their definition. The features of the innovative model of economic development are explored; factors of formation of innovative economy are defined.

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Participative leadership of village head based local wisdom "H4" in district Suwawa, Bolango Bone Regency, Gorontalo province Indonesia

Participative leadership of village head based local wisdom "H4" in district Suwawa, Bolango Bone Regency, Gorontalo province Indonesia

Author(s): Jans Wilianto Nasila,Haedar Akib / Language(s): English Issue: 1/2014

This study aims to describe the leadership of the head of the village-based participatory local wisdom in District Suwawa. Type of research is a qualitative case study approach. Data were collected through observation, in-depth interviews and document analysis. Data were analyzed following the model of interactive data reduction, data display and conclusion. The results showed that the leadership of the head of the village-based participatory local wisdom huyula, heluma, hulunga and hileia (H4) is able to motivate people to meet together and empower institutional interest in the village. The value of local knowledge is an idea that significant H4 wise, full of wisdom, and good value,so it is believed, followed and became the tradition of the community. However, the idea is based on sincerity,mutual aid, close to each other, bear each other, each other even feel the pain others are experiencing a shift in line with the changing patterns of society are more pragmatically oriented, let alone consider each activity should be rewarded according to the sacrificial material. As a result, people's participation in any rural development activity has declined.

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Dynamic Panel Model of Dividend Policies: Malaysian Perspective

Dynamic Panel Model of Dividend Policies: Malaysian Perspective

Author(s): Nor Anis Shafai,Annuar Md. Nassir,Fakarudin Kamarudin,Norhuda Abdul Rahim,Nor Hayati Ahmad / Language(s): English Issue: 3/2019

The aim of this paper is to identify the key determinants of the dividend policies for Malaysian listed firms. The sample in this study incorporates the top 100 listed firms on Bursa Malaysia (Bursa) over a ten-year period from 2007 to 2016. The dynamic panel data set was constructed using the sample firms. The results indicate that dividend policies are positively significantly related to profitability and firm size in Malaysia. Thus, this suggests that Malaysian listed firms determine their future dividends based on past dividend payments. Meanwhile, dividend policies are negatively and significantly associated with leverage and business risk. Therefore, this study used the generalized method of moments (GMM) to reveal unique findings and the findings should inspire analysts, policy makers, institutional investors and investors to examine the dividend policy puzzle, especially for developing countries.

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DEVELOPMENT AND PERSPECTIVES OF DIGITAL ECONOMY IN THE REPUBLIC OF SERBIA

DEVELOPMENT AND PERSPECTIVES OF DIGITAL ECONOMY IN THE REPUBLIC OF SERBIA

Author(s): Petar Veselinović,Nenad Stanišić / Language(s): English Issue: 22/2021

The Internet revolution is driving new advances in the digital economy. The new economy must harmonize traditional and modern approaches to the economy in order to respond to the challenge of managing the country based on monitoring technological change and innovation. The digital economy is considered to be the key to solving a large number of social, economic, and other problems in society, as well as to achieving sustainable development and economic growth of the national economy. The evolution of information and communication technology on which the digital economy is based is an essential factor in ensuring labour productivity and economic growth. The main goal of this paper is to present the digital economy in the Republic of Serbia as a possible chance and opportunity for the realization of which it is necessary to establish a new business model, as well as to determine the relationship between the achieved level of digital development and economic development.

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„Figyelni kell a piacot, ez a kulcsa az egésznek…” Szociográfia a magyar kis- és közepes vállalkozások helyzetéről, 2017

„Figyelni kell a piacot, ez a kulcsa az egésznek…” Szociográfia a magyar kis- és közepes vállalkozások helyzetéről, 2017

Author(s): Ágnes Gyõri,Ágnes Czakó / Language(s): Hungarian Issue: 1/2019

This economic-sociological analysis uses sociographical methods to demonstrate how the owners and the managers of small and medium-sized enterprises (SMEs) operating in Central Transdanubia and Central Hungary perceived and evaluated the changes of the economic and social environment in focus group interviews conducted in 2017. Enterprises strive to base their operations on innovation, to be tested and hold their own in competition, but whereas this would require fair conditions, opportunism often prevails. The trivial statement highlighted in the title, in fact, expresses the knowledge and effort through which experienced entrepreneurs we interviewed are able to interpret the current economic conditions and strengthen their market position owing to the innovations that represent entrepreneurship itself. This qualitative piece of research complements the findings of numerous recent questionnaire-based surveys and quantitative analyses by providing a thematic description of what lies behind the problems. The substantive elements of the economy underlying the simplifying quantitative data become visible, such as how the competitiveness of Hungarian SMEs could be increased as well as the factors stimulating or stifling innovation. This sociography identifies the risks, as seen in the summer of 2017 by SME owners, inherent in the relationships of trust resting on paternalistic or reciprocal connections. It also presents the tools and strategies that small enterprises can deploy to help them reduce risks and survive.

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Управление отходами в контексте перехода к циркулярной экономике: кейс Казахстана

Управление отходами в контексте перехода к циркулярной экономике: кейс Казахстана

Author(s): Olga Lygina,Marzhan Urazgaliyeva,Nursulu Kalaganova,Irina Rykova / Language(s): Russian Issue: 2/2021

Purpose: To rethink the concept of waste management in the context of the transition to a circular economy, to assess, establish the features and determine the directions of testing foreign experience in the field of waste management in Kazakhstan. Design/Method/Approach: The theoretical approach is based on a generalization of existing research, on the materials of content analysis of existing modern sources in the field of circular economy. Also, the study was carried out by selection, systematization of facts and data, abstraction, generalization to identify the problems of waste processing in Kazakhstan and search for their solutions. Findings: The waste management system is one of the conditions for the implementation of the "green economy", which is due to the insufficient degree of development of practical approaches to the topic of processing production and consumption waste. One of the driving factors contributing to the efficiency of the waste management system is the awareness and understanding of the theoretical and practical essence and goals of "green" categories, such as a circular model of production, processing technologies, financing instruments, etc. All this is aimed at solving problems associated with environmental pollution. The main factors hindering the development of the waste management system are mostly internal factors, including personal ones. Theoretical Implication: It has been substantiated that Kazakhstan needs a complete formation of a waste management system, taking into account the possibility of using world experience and improving the practice of the existing market for the sale of secondary resources. In addition, the issue of updating the activities of information companies to attract public attention to this problem was considered. Practical Implications: The results achieved can be used in various regions of Kazakhstan to attract the attention of local representative bodies, the public to the problem of waste management, which is one of the important components of the circular economy in the context of the development of a "green economy". Social Consequences: Achievement of certain results in the field of rational and effective waste management leads to minimization of their negative impact on the environment. Originality/Value: The originality of the article lies in the fact that it considers the problems of the weak functioning of the waste management system today in a more systematic way. Research Limitations/Future Research: Prospects for further research are related to the continuation of the analysis of the problems of forming a waste management system and the search for ways to solve them. Paper type: Theoretical

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INTERNAL FUNDING DETERMINANTS OF R&D EXPENDITURES FOR U.S. MATURE FIRMS

INTERNAL FUNDING DETERMINANTS OF R&D EXPENDITURES FOR U.S. MATURE FIRMS

Author(s): Manuela Tvaronavičienė,Arunas Burinskas / Language(s): English Issue: 1/2021

Since research and development (R&D) investment identified as the main factor for economic development in contemporary endogenous models, many studies investigated the determinants of such investment. Though there is no disagreement that internal financing sources are vital for R&D expenditures (at least for matured firms), there are still ongoing discussions as to which of them takes priority: revenue or cash flows. This paper analyses the impact of firms’ revenue and cash flow on R&D expenditures by employing a dynamic linear model. Also, we use the Vector Error Correction Model to test the variance composition. Our research confirms that, in the beginning, positive revenue dynamics serve as the most critical signal for business to invest in R&D activity. However, later profit that firms earn comes to the first place in the ladder of their motivation.

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On the failure and systemic risk of innovation cluster: copula approach

On the failure and systemic risk of innovation cluster: copula approach

Author(s): Laura Gudelytė / Language(s): English Issue: 1/2021

In order to assess and parameterize the risk of innovation activity implemented by innovation clusters, it is necessary to determine the reliable tools of measuring of systemic risk. Purpose – to propose an adequate approach to evaluate the systemic risk with regard to the impact of interlinkages between cluster entities and other external factors. Research methodology – general overview of research papers and documents presenting concepts and methodologies of evaluation of systemic risk and performance of networked structures as approach to evaluate the systemic risk with regard to the impact of interlinkages between cluster entities and other external factors, applied research. Findings – it is suggested to develop the further parameterization of intensity. Modelling of the tail dependence and asymmetric dependence between pairs of networked positions remains an important task. Research limitations – the lack of information concerning the structure and types of interactions and relationship between the members of innovation cluster. There are made some additional assumptions related to reduced-form approach of credit risk modelling. Practical implications – proposed conceptual model of evaluation of systemic risk should be useful for understanding and further treatment of measuring risk in a case of innovation management. Originality/Value – the concept of the measuring the systemic risk in innovation cluster as a joint probability of correlated failure of commercialization of innovative activity results is proposed and analysed in this paper.

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RECONSIDERING TRADE AND INVESTMENT-LED GROWTH HYPOTHESIS: NEW EVIDENCE FROM NIGERIAN ECONOMY

RECONSIDERING TRADE AND INVESTMENT-LED GROWTH HYPOTHESIS: NEW EVIDENCE FROM NIGERIAN ECONOMY

Author(s): Orhan Çoban,Stephen Taiwo Onifade,Abdul-Razak Bawa Yussif,Ilham Haouas / Language(s): English Issue: 3/2020

The need to revisit the trade and investment-led growth hypothesis in the case of Nigerian economy has become pertinent following the recent record drop of 15% in FDI inflows to West Africa. This fall in FDI flow to the region has been primarily attributed to the abysmal performance of Nigeria in attracting FDI as the largest economy in the sub-region despite an average rise in the rate of FDI flow to Africa as a continent at large. In this study, the trade and foreign direct investment-led growth hypothesis were revisited in the case of Nigerian economy. Our empirical findings provide evidence to support the trade-led growth hypothesis as trade measures were found to be significantly and positively impacting real economic growth in the reviewed period. In particular, the export-led growth hypothesis was upheld by the results. On the other hand, we have found mixed evidence on the investment-led growth hypothesis as only domestic investments demonstrated a significant positive impact on economic growth while FDI was not significant for economic growth in the country for the period under review. Thus, to harness the inherent benefits of inward FDI in the wake of dynamic trade relations, efficacious policy directions were provided with respect to the findings.

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SOCIAL SAFETY AND BEHAVIORAL ASPECTS OF POPULATIONS FINANCIAL INCLUSION: A MULTICOUNTRY ANALYSIS

SOCIAL SAFETY AND BEHAVIORAL ASPECTS OF POPULATIONS FINANCIAL INCLUSION: A MULTICOUNTRY ANALYSIS

Author(s): Iryna Didenko,Jolanta Paucz-Olszewska,Serhiy Lyeonov,Anna Ostrowska-Dankiewicz,Zbigniew Ciekanowski / Language(s): English Issue: 2/2020

This article aims to investigate the connection between behavioral aspects of populations financial inclusion and the level of social safety. The study was conducted in several stages: collecting the necessary input, determining The Index of socio-safety, selecting the most relevant factors that characterize the behavioral aspects of financial inclusion, determining the functional relationships between The Index of socio-safety and indicators describing critical behavioral issues of financial inclusion. The study involved 26 countries with different levels of economic development, and 18 indicators (10 characterized the behavioral aspects of financial involvement of the population, 8 - the world vectors of social safety). The Index of socio-safety was obtained with the help of PCA. Russian Federation and South Africa have the highest level of The Index among the studied countries. The lowest level of the calculated indicator is in Mozambique and Burkina Faso. Correlation and regression analysis revealed a statistically significant relationship between The Index of socio-safety and an increasing number of ATMs per 100,000 adults, usage of the internet to pay bills or to buy something online and increase the percentage of respondents who report having a credit card.

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SOCIALLY RESPONSIBLE INNOVATIONS - DESIGNATION OF THE CONCEPT AND OPERATIONAL DEFINITION

SOCIALLY RESPONSIBLE INNOVATIONS - DESIGNATION OF THE CONCEPT AND OPERATIONAL DEFINITION

Author(s): Seweryn Spałek,Remigiusz Kozubek / Language(s): English Issue: 1/2019

In this article, the authors point to the designatum of the term socially responsible innovations in order to identify the research area. In addition, the authors attempt to show an operational definition of socially responsible innovation based on the integration of innovation theory and elements relating to the concept of sustainable development, corporate social responsibility, the virtuous circle of innovation and CSR.

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INNOWACYJNOŚĆ PRZEDSIĘBIORSTW W RAMACH ALIANSU STRATEGICZNEGO

INNOWACYJNOŚĆ PRZEDSIĘBIORSTW W RAMACH ALIANSU STRATEGICZNEGO

Author(s): Rafał Drewniak / Language(s): Polish Issue: 4/2018

The innovativeness of enterprises is one of the key determinants of their market success. The sources of innovation should be sought not only among their own resources and employees, but also outside. In order to minimize the costs and risks of innovative activities, companies use their relationships with other market players. Co-operation between enterprises makes it possible to gain access to the resources and knowledge of cooperators, thanks to which it becomes possible to strengthen the ability to develop and implement innovative solutions. The aim of the article is to characterize the essence and importance of enterprise innovativeness and the type of innovation in the context of undertaking cooperation between enterprises. The presented results of empirical research identify the relationship between the size of partner enterprises and the duration of the agreement and the type of implemented innovations. The results of the research also allow to state that: there is a stronger dependence between innovations initiation and the duration of the alliance than in the case of the size of the enterprise, and the longer duration of the alliance favors implementation of process innovations rather than product and organizational innovations. The relationship between the type of implemented innovations and the size of cooperating enterprises was also defined. The results and conclusions indicate the importance of the characteristics studied for the innovativeness of enterprises, which may be the basis for building, maintaining and/or strengthening a competitive advantage by indicating new sources of its obtaining.

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NEW COMPANIES’ FORMATION IN ROMANIA. A PVAR MODEL  APPROACH

NEW COMPANIES’ FORMATION IN ROMANIA. A PVAR MODEL APPROACH

Author(s): Dalina Maria Andrei / Language(s): English Issue: 2/2021

This paper is an empirical analysis of determinants for new companies' formation and uses data from 42 Romanian counties (including Bucharest municipality) that belong to the 2010-2019 year interval. The exogenous here picked are found by the literature to be influential on new companies' formation. Results come out of a PVAR model applied (unrestricted vector autoregressive model applied on panel data). Granger causality results between regional GDP, unemployment rate, density of regional population, and entire entrepreneurial activity in Romania, on the one hand, and new companies' formation on the other, as endogenous. Stationarity and co-integration tests as well as lags criteria were done previously of estimating that PVAR model. All variables are found to be stationary of order one I(1), but test for co-integration was inconclusive. So, in absence of a certain co-integration, a VAR (and not a VECM) was chosen for estimations. Results confirm a relationship between almost all variables, tests for stability confirm that no root lies outside the unit circle and VAR satisfies the stability condition.

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THE IMPACT OF OFDI REVERSE TECHNOLOGY SPILLOVER ON CHINA'S TECHNOLOGICAL PROGRESS: ANALYSIS OF PROVINCIAL PANEL DATA

THE IMPACT OF OFDI REVERSE TECHNOLOGY SPILLOVER ON CHINA'S TECHNOLOGICAL PROGRESS: ANALYSIS OF PROVINCIAL PANEL DATA

Author(s): Li Shuyan,Michal Fabuš / Language(s): English Issue: 4/2019

In recent years, China's foreign direct investment (OFDI) has grown rapidly. While promoting economic development of a host country, it also has a certain impact on technological progress of a home country through the reverse technology spillover effect. However, the source of China’s OFDI is not unevenly distributed, and OFDI of the Eastern coastal economically developed provinces and cities has the highest proportion. At the same time, due to large differences in economic development levels and technical levels of various provinces and cities, the absorption effect of OFDI reverse technology spillovers must be different. This paper takes the patent grant amount as a technical indicator and uses panel data on various provinces and cities in China to empirically test the reverse spillover effect of OFDI on China's technological progress and regional differences in it. Overall, there is a long-term stable equilibrium relationship observed between China's OFDI and domestic technological progress, but the correlation coefficient is not high. In terms of regions, the largest value is observed on the East, the second largest - on the West, and the smallest - in the Central region. The proportion of China's OFDI participating in foreign production and technology research and development is still relatively low, so the coefficient of influence on technological progress is not high. The government should actively guide and promote Chinese enterprises to increase foreign investment in production, research and development, and thus increase the contribution of OFDI to technological progress.

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INCOME DISTRIBUTION PECULIARITIES IN DIFFERENTLY DEVELOPED SELECTED EUROPEAN COUNTRIES VERSUS QATAR

INCOME DISTRIBUTION PECULIARITIES IN DIFFERENTLY DEVELOPED SELECTED EUROPEAN COUNTRIES VERSUS QATAR

Author(s): Manuela Tvaronavičienė / Language(s): English Issue: 3/2019

Development patterns of any country are determined by a wide array of factors. Those factors differ in developed and less developed countries. Developed countries, as a rule, rely on human resources, while less developed countries build their wellbeing on available natural resources. Anyway, income distribution across society of any country is an important constituent of entrepreneurship competitive potential. If the middle class prevails in a society, a consumption and saving model is to be expected, and if, on the contrary, lower or upper class dominates, the prevailing lifestyle and consumption patterns will be different. Successful entrepreneurship, which is the precondition of competitiveness of any country, requires clear understanding what income distribution patterns are characteristic for different countries and how these distribution changes are reacting to external factors, such as macroeconomic cycles in partnering countries or political climate, Trumps’ policy, Brexit scenarios, Eurozone or global crises etc. The presented here study will be based on the comparison of distribution patterns of income and wealth in developed European countries, which would be represented by Germany, then in comparatively less developed European countries, which would be represented by Lithuania and Romania, and also in Qatar. After juxtaposing of income distribution patterns and generalizations, sensitivity of income distribution across society to external factors, listed above, will be checked. For that purpose, a modelling tool provided by the Passport database owned by the Euromonitor International Company will be used. This modelling tool is available for official subscribers of the Passport. The obtained results reveal income distribution patterns and resilience of the selected countries to external factors. The results have both theoretical and practical value since consistent patterns of income and wealth distribution are revealed.

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Mining, Poverty, and Income Inequality in Central and Eastern European Countries: What Do the Data Tell Us?

Mining, Poverty, and Income Inequality in Central and Eastern European Countries: What Do the Data Tell Us?

Author(s): Kunofiwa Tsaurai / Language(s): English Issue: 3/2021

The study investigates the effect of mining on both poverty and income inequality in Central and Eastern European countries (CEECs) using econometric estimation methods with panel data spanning from 2009 to 2019. Another objective of this paper was to determine if the complementarity between mining and infrastructural development reduced poverty and or income inequality in CEECs. What triggered the study is the failure of the existing literature to have a common ground regarding the impact of mining on poverty and or income inequality. The existing literature on the subject matter is contradictory, mixed, and divergent; hence, it paves the way for further empirical tests. The study confirmed that the vicious cycle of poverty is relevant in CEECs. According to the dynamic generalized methods of moments (GMM), mining had a significant poverty reduction influence in CEECs. The dynamic GMM and random effects revealed that the complementarity between mining and infrastructural development also enhanced poverty reduction in CEECs. Random effects and pooled OLS shows that mining significantly reduced income inequality in CEECs. However, random effects and the dynamic GMM results indicate that income inequality was significantly reduced by the complementarity between mining and infrastructural development. The authorities in CEECs are therefore urged to implement mining growth and infrastructural development-oriented policies in order to successfully fight off the twin challenges of poverty and income inequality.

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Pacific Islands Development Forum – Emergence of the New Participant in the Pacific Regionalism

Pacific Islands Development Forum – Emergence of the New Participant in the Pacific Regionalism

Author(s): Joanna Siekiera / Language(s): English Issue: 3/2019

Pacific Islands Development Forum (PIDF) was formally established through signing of an agreement in 2015. The two previous gatherings were informal and did not bring any legally binding documents. The 3rd summit, entitled “Building Climate Resilient Green Blue Pacific Economies” introduced not only the constituting agreement, being an international treaty, what in turn made PIDF an intergovernmental organization having its own legal personality, but also created the pivot for the new wave of the Pacific regionalism. The regional cooperation among the small island states is being made ineffectively and economically inefficiently due to many reasons. The most relevant of which are the over fragmentation of the existing regional organisations and constant creation of ad hoc institutions which have no personality, powers or sanctions for non-fulfilment of the jointly adapted agreements.

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Lessons to Be Learned from Ukraine’s Positioning in International Rankings: The Need for Institutional Support and Financial Support for Economic Creativity

Lessons to Be Learned from Ukraine’s Positioning in International Rankings: The Need for Institutional Support and Financial Support for Economic Creativity

Author(s): Igor Britchenko,Irena Svydruk,Yurii Pidlypnyi,Oleksandr P. Krupskyi / Language(s): English Issue: 4 (90)/2020

Purpose: To develop proposals on the directions of institutional support for the processes of creativity of the Ukrainian economy. Design/methodology/approach: The analysis of trends in the creativity of the Ukrainian economy is carried out and proposals are developed for conceptualizing institutional support for these processes. The authors set out to develop proposals for institutional support for creativity processes and offer recommendations for systematic updating of Ukrainian legislation in the areas of state regulation of high-tech business. The information base was the information materials of the State Statistics Service of Ukraine, Ministry of Economic Development and Trade of Ukraine, the statistical databases of the European Commission, OECD and World Bank tor the period 2014-2020. The research methodology is based on scientific tools that include comparative analysis and economic and mathematical modeling. Findings: Building a national program of public investment in creative development will allow us to systematically approach the issue of institutional support tor technological breakthroughs. Research limitations/implications: Recommendations on the development and improvement of legislative instruments of deregulatory policy, harmonization with European standards are substantiated. Directions of systematic updating of legislation on guaranteeing foreign investment of creative projects and targeted investment of joint research projects of academic science and creative organizations are proposed. The implementation will allow a systematic approach to the issue of institutional support tor the technological breakthrough of Ukraine. Originality/value: There is a need to step up institutional activities in the field of organizing research centers, introduce targeted investment in the academic science and research activity of creative organizations.

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