We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.

Download

ARTIFICIAL INTELLIGENCE ADOPTION AND EMPLOYEE PERFORMANCE IN THE NIGERIAN BANKING INDUSTRY

Author(s): Ayobami Folarin Elegunde,Reuben O. Osagie / Language(s): English Issue: 8/2020

The study examined Artificial Intelligence and Employee Performance in the Nigerian Banking Industry, Lagos Nigeria as a study to generalize results. The objective of this study was to examine the complementability of AI to work processes and to know if it eases employee operations in banks in Nigeria. Cross-sectional descriptive research design was adopted by the researcher. Primary data was to elicit information for this study. The population of the study was the entire employees of six (6) selected banks operating in Lagos State, Nigeria, which totaled 127 staff. The study adopted Taro Yamane (1967) sample size determinant to arrive at a sample size of 98 elements. 98 copies of questionnaires were administered to respondents of six banks in Lagos State, Nigeria, which was divided using simple proportion and ratio among the six banks, 98 respondents were used for data analysis. Content validity was adopted for this study. Reliability test was conducted using Cronbach Alpha and it returned 0.773 showing internal consistency of research instrument. Descriptive statistics such as mean, simple percentage was used to analyze the demography of respondents while regression and Pearson correlation coefficients were used to analyze data. The findings revealed that Artificial Intelligence complements work process in banks in Nigeria and that machine-aided tasks ease operations in banks in Nigeria. The study recommended the adoption of AI by not only banks but all other firms in the service industry; the need for all employees and people to be educated on the importance of embracing AI; the upgrading of school curriculum at all levels in developing and third world economies to incorporate AI and its accompanying gadgets.

More...

Download

Дослідження властивостей грошей в умовах сегментації їх цифрових аналогів

Author(s): Vyacheslav Voloshin,Viktoriya Gonchar / Language(s): Ukrainian Issue: 5 (38)/2020

The paper presents an attempt to study new qualitative characteristics of money that they will receive in the event of legalization of options for digital currencies in the world market. The logic of the development of the modern cryptocurrency segment is such that they will potentially be able to change the world market towards a complete rejection of the cash. This, in turn, will significantly change the system of commodity-money relations in favor of holders or managers of digital currencies, which will become uncontrollable from both their passive owners and the state. It is shown that the characteristics of digital money can gradually shift towards their endless illiquidity, as well as towards the gradual elimination of the concept of equivalence in commodity exchange. In this case it is possible to change the entire ideology of business, as the basis of the modern economy. Possibility to localize the likely excess composition of digital money, a large-scale growth of the service market is considered, as an alternative to the market of material goods. Digital money itself can be a system for irreversible changes in the conditions of controllability of any trading operations. Nowadays there are certain prerequisites for this: the global expansion of the services market as an active segment of the business, as an alternative to the goods market; a cryptocurrency with starting capabilities, as a reasonable currency with unlimited inflationary opportunities; the factor of counteraction to these changes on the part of the global banking system, as indirect evidence of such prerequisites, etc. The paper presents data on the calculation of risks associated with the financial instability of some countries’ economies during the transition from system cash to digital calculations. It is shown that a systemic transition to new rules for dealing with an infinite digital money supply can lead to the elimination of the system of equivalent exchange of the "commodity-money-commodity" type, into the area of uncontrolled expansion of the services market, as a commodity segment capable of hiding digital unsecured money supply.

More...

Download

Evaluation and verification of synchronization of business cycles of consumer price index of energy between Poland and OECD-Europe or EU-28

Author(s): Elżbieta Szaruga / Language(s): English Issue: 3/1/2018

The article presents the problem of business cycles of consumer price index of energy between Poland and two grouping of states (OECD-Europe and EU-28). The aim of the article is to assess the level of synchronization of business cycles of consumer price index of energy in Poland and OECD-Europe or EU-28. The main hypothesis was formulated: business cycles of consumer price index of energy in OECD-Europe or the EU-28 have a significant impact on the formation of business cycles of consumer price index of energy in Poland, which results from their strong synchronization. In the paper used spectral and cross-spectral methods, as well as the TRAMO/SEATS method and the Hodrick-Prescott filter for business cycles estimation. The research was conducted on the example of Poland, OECD-Europe and EU-28 on the basis of secondary data of consumer price index of energy from the OECD.Stats (2018) database. Monthly time series from January 1996 to December 2017 were used. Two dominant cycles were identified in all surveyed units (66-months and 33-months). As a result of the conducted research, coherence between 79–97% between business cycles of consumer price index of energy in Poland and EU-28 and 52–83% between those cycles in Poland and OECD-Europe was obtained. In both cases the amplitude of the business cycles of consumer price index of energy in Poland was lower than in those groups. Longer cycles (50/52–66) of country groups were overtake of similar business cycles in Poland, while for shorter cycles (33–50/52) there was a reverse relation.

More...

Download

Optimizing the capital structure of the U.S. small businesses in the midst of the financial crises – the case of California

Author(s): Robert Rumiński / Language(s): English Issue: 4/1/2018

Finding the optimal enterprise capital structure and understanding the access of firms to finance, particularly in the process of financing small enterprises have been of great importance. Small enterprises face numerous problems in accessing external funds. They tend to be bank dependent. Obtaining the optimal capital structure is challenging – especially in the midst of financial crises. This paper is concerned with the capital structure in the U.S. small enterprises and its tendencies towards fluctuation. The data and statistical analysis derived from the empirical research and empirical study that was done in California are discussed. The paper presents the literature review on the capital structure and its theories. Moreover, there is a presentation and analysis of the association between particular empirical research questions regarding the capital structure, financing preferences and other important qualitative factors.

More...

Download

DETERMINANTS OF DEBT IN RURAL MUNICIPALITIES ON THE EXAMPLE OF THE WARMIŃSKO-MAZURSKIE VOIVODESHIP

Author(s): Anna Wichowska / Language(s): English Issue: 4/2019

One of the major consequences of the economic crisis with which the local governments had to deal was growing debt, the implications of which could endanger the continuity of public services. It appears that the largest cities in Poland were especially exposed to the negative effects of the indebtedness, yet the problem affected the village communes as well. Therefore, the main aim of the article was to assess the level of indebtedness of rural communes against other communes as well as to identify the determinants of the debt. As an example for the analysis communes of the Warmińsko-Mazurskie Voivodeship were selected, as the region is characterized by a high share of rural areas as well as a rather unfavourable economic situation. The general indebtedness of the selected rural communes remained at a relatively low level in comparison to the urban and urban-rural communes. Findings also suggest that the level of debt was influenced primarily by such factors as the number of inhabitants in the studied area, the number of primary schools, as well as the share of the post-working age population in the population total.

More...

Download

DEVELOPMENTS IN THE HOUSEHOLD DEBT-TO-GDP RATIO ACROSS THE OECD COUNTRIES SINCE THE GLOBAL FINANCIAL CRISIS

Author(s): Piotr Bolibok / Language(s): English Issue: 1/2020

The paper aims to investigate the developments in the household debt-to-GDP ratio across OECD countries over the period 2007–2017 from the standpoint of the individual tendencies in the numerator (household debt) and denominator (GDP) of the ratio, and to identify the groups of countries exhibiting similar patterns in the post-crisis evolution of these variables. The investigation employs a comparative analysis of the average rates of change in household debt and GDP in the sample, as well as k-medians clustering aimed at identifying similarities. The results of the research reveal significant disparities in the development of the household debt-to-GDP ratio across the examined countries in the analysed period driven by the dominant tendencies in its numerator and denominator, which in turn appear to be related to the pre-crisis levels of household sector indebtedness and GDP per capita, as well as the depth of recession that affected each of the particular economies.

More...

Download

COVID-19: Putting Stock Markets Back on Recovery among the Crude Oil Producing Economies

Author(s): Solomon A. Olakojo,Abayomi T. Onanuga,Olaronke T. Onanuga / Language(s): English Issue: 1/2021

COVID-19 poses an unprecedented threat to components of global business cycles including stock markets, industrial production and employment. This study investigated its impact on stock markets of 24 oil producing COVID-19-hit economies in North America, South America, Europe, Asia, Oceania and Africa. It examined the nature of asymmetry in the business cycles of the sampled countries and the impact of COVID-19 on the asymmetry. Switching regression techniques were estimated with data covering the period from October 1, 2019 to April 14, 2020. The results confirmed the presence of negative asymmetry in stock market cycles in 54.2% of the sampled countries, out of which 38.5%, 46.2% and 15.4% are high, middle and low-middle income countries, respectively. This is significantly connected to the COVID-19 pandemic for 29.2% of the sample. The expected duration of being in the state of low stock market performance, due to COVID-19, reduces with levels of countries’ income, if regimes are dependent. Opposite was observed if regimes are independent. Hence, the negative impact of COVID-19 on stock markets in lower-income countries will linger compared to higher-income countries. Reducing COVID-19-associated risks will go a long way to revive investors’ confidence in the market and help to restart the engine of economic recovery in the sampled countries.

More...

Download

Population and Labor Dynamics in Large Informal Markets: Implications for Pension Systems with Evidence from Ecuador

Author(s): Margarita Velín-Fárez / Language(s): English Issue: 2/2021

This paper reviews Ecuador’s population structure and labor market dynamics with a focus on the causes of inequality, particularly among older adults receiving contributory pensions. This serves as a basis for characterizing the main restrictions that the Ecuadorian pension system must address. This analysis is valuable for three key reasons. First, the population structure of many less developed countries is converging toward that of developed countries, with older age groups increasing in proportion. Second, Ecuador is among the countries in Latin America and the Caribbean with the highest degree of informality in the labor market, which lowers the coverage of contributory pension schemes. Third, regarding gender inequality, the rate of women’s labor participation in 2010 was among the lowest in South America. The findings suggest that a younger population structure will not be the main solution to financial problems and the pension inadequacy that are facing most pension systems worldwide. Improvements in labor market institutions are required to increase the pension system’s insurance. The study concludes by discussing several proposals aimed at increasing pension coverage and reducing inequality.

More...

Download

Central Bank Independence and Democracy: Does Transparency Matter?

Author(s): Asmaa Mohamed Ezzat,Mona Esam Fayed / Language(s): English Issue: 2/2020

Securing central bank independence (CBI) is considered a vital and common practice in a large number of countries, since this independence is often associated with favorable economic performance, and it isolates monetary policy from the distortions of political business cycles, associated with electoral business or partisan cycles. However, one criticism against CBI is the seemed contradiction between independence and democracy, known as the problem of accountability of the monetary authority. Thus, this study empirically examines the potential effects of central bank transparency and independence on democracy. This would, in turn, attribute to reconciling the presumed contradiction between CBI and democracy, besides disentangling the impact of independence and transparency on democracy. To this end, we regress democracy on both CBI and CB transparency, besides some control variables, for a sample of 100 central banks in year 2010. The preliminary results indicate that CBI is conducive to democracy. However, this relationship is dependent on the level of CB transparency, where high levels of transparency could reverse this positive relation and make CBI an obstacle in face of democracy. Furthermore, CB’s transparency is always associated with more democracy, but increasing the level of CBI reduces this positive impact.

More...

Download

Exchange Rate Movements and Structural Break on China FDI Inflows

Author(s): Jung Wan Lee,Tantatape Brahmasrene / Language(s): English Issue: 2/2020

The aim of the study is to explore the short-run and long-run dynamic relationships between exchange rate fluctuations and foreign direct investment (FDI) inflows in China. The justification is that the undertaken topic is preeminent for devising strategies to promote economic development, thus, a course that carries much at stake not only for China but also for other developing countries. Methodology used in the study consists of co-integration tests, vector error correction models, Wald tests and impulse responses. Monthly time series data from the National Bureau of Statistics of the People’s Republic of China are analyzed. The main empirical results indicate that a change in exchange rates negatively affects FDI inflows in the long run while there exists no evidence of short-run dynamics and reciprocal feedback between exchange rate fluctuations and FDI inflows. Furthermore, a structural break occurs during the 2007-2009 global financial crisis shock to FDI inflows in China. In conclusions, this research expands knowledge of factors that affect FDI inflows. To generalize the results obtained from this study, recommendations for future research include studies encompassing different economies where data are available. Such research will contribute towards improving our understanding of exchange rate systems and responses in each market.

More...

Download

FARM INVESTMENT IN POLAND UNDER CONDITIONS OF ECONOMIC CHANGES IN SELECTED AGRICULTURAL MARKETS

Author(s): Elżbieta Jadwiga Szymańska,Mariusz Dziwulski / Language(s): English Issue: 1/2021

The aim of the research was to determine changes in the level of investments in fixed assets on Polish farms with different types of production in the context of changes in the economic situation on selected agricultural markets in Poland. The research used studies of the literature on the subject and the mass statistics data of Poland’s Central Statistical Office. A detailed analysis covered 878 farms which in 2005–2013 kept continuous accounting under the FADN system and did not change the direction of production. They were grouped into three categories depending on their specialization: cereal, dairy and pig. The study formulated a research hypothesis that production profitability affects farm investments. The research used a comparative analysis of changes in economic results on farms in 2005–2013 and the Pearson’s linear correlation method. Results show that the scale and nature of investments in farms with different production directions were diversified and changed in the following years. To a large extent, changes in investments depended on changes in the profitability of production in single agricultural markets, which confirms the formulated hypothesis. Pig farms were characterized by the greatest sensitivity of changes in investments to changes in the price situation in agricultural markets. The possibilities of co-financing investments and their long-term nature mitigated the impact of shock changes on the investment dynamics.

More...

Download

Views of Joseph E. Stiglitz on the role and scope of the state’s influence on the economy against the background of previous views

Author(s): Mirosław Bochenek / Language(s): English Issue: 1/2021

Motivation: In the history of economic thought up to now, one of the topics causing the fiercest disputes was the role of the state and the market in economic life. The creators of the oldest concepts suggested that the state should steer the economy. Since the beginning of the 18th century, the supporters of laissez-faire, the invisible hand of the market, and the auctioneer have been getting more and more respect. Their creators argued that the free market works efficiently and effectively. These views were undermined by the Great Depression. In response to the deep recession, Keynesianism was created, which led to the radicalization of supporters of a strong state on the one hand, and an unhampered market on the other. Aim: The aim of this article is to present in a synthetic way the evolution of views on the resource allocation mechanism in the economy. The research problem can be contained in three questions: How have theoretical views on the role of the state and the market in the economy evolved? Which views remain relevant? What is Joseph E. Stiglitz’s contribution to the discussion on the state-market relationship? Result: An innovative solution was proposed by Joseph E. Stiglitz. He pointed out that the state and the market should not be opposed as mechanisms for coordinating economic activity. He was in favour of developing ways of cooperation between the state and the market in order to ensure the effective functioning of modern economies that are mixed economies. This solution has rendered out of date the existing dispute between supporters of interventionism and laissez-faire.

More...

Download

Materialisation of the Concept of Good Governance by Effective Investment Dispute Resolution in the European Union

Author(s): Jagna Mucha / Language(s): English Issue: 1/2016

The concept of good governance constitutes a wide perspective for academic discussion because it provides a substantial theoretical background for settling many practical problems faced contemporarily by the EU. The basic assumptions of good governance have basically remained unchanged since the 90’s, when the concept was introduced by the World Bank. Notably, the scholarly discussions these days reveal new facets of the said concept, when related to specific domains. The paper discusses the application of the specific elements of the concept of good governance in the field of the international investment law. Specifically, it seeks to demonstrate that the concept of good governance regulates the issue of international investments in that, among others, it requires the application of the alternative dispute resolution in order to make the investment law enforceable in the best possible way.

More...

Download

Страховий ринок України: сучасний стан та проблеми розвитку

Author(s): Olha Kotsiurba,Daria Nasypaiko / Language(s): Ukrainian Issue: 5 (38)/2020

The article is devoted to the study of the peculiarities of the Ukraine’ insurance market functioning in the modern conditions of emergence of new unforeseen threats and challenges. The current state of the national insurance market is analyzed and the main trends of its development in 2017-2020 are identified. It was found that the change in the main indicators of the insurance market of Ukraine occurred under the influence of economic downturn due to the spread of coronary heart disease. Thus, if until 2020 the national insurance market was marked by insignificant but stable development, then from 2020 it was significantly affected by restrictive quarantine measures at the state level, which led to a sharp decrease of 19% in gross insurance premiums compared to 2019. There was a decrease in the number of insurers during the study period from 296 to 215, with the largest decrease in the number of companies providing insurance other than life insurance. It is noted that the impetus for the national insurance market development will provide the sale of new insurance products, such as cyber-insurance, P2P insurance and microinsurance, blockchain and smart contracts in insurance, insuretech.The main problems that hinder the development of the national insurance market are identified. These include: the lack of a unified state strategy for the development of the national insurance market, the change of the regulator and, accordingly, the general vision of the development of the national insurance market by its representatives; imperfection and fragmentation of the regulatory framework in the field of insurance; underdeveloped financial market and lack of liquid and reliable financial instruments for investing resources of insurance companies; fears of fraud; low level of innovation by insurers; improper level of information openness of the insurance market, etc. The solution of these problems will ensure its formation as a driver of economic development of the country.

More...

Download

Regulacje publiczne w dobie kryzysu gospodarczego

Author(s): Marcin Brol / Language(s): Polish Issue: 1/2010

The aim of this paper is to present and evaluate public regulations proposed by the American, German and Polish governments during the economic crisis. Some of the regulations relate to financial, energy and labour markets. Most of them are introduced for the short term, but some of them will probably last for many years. This paper also discusses the efficiency of the proposed regulations.

More...

Download

THE EFFECTS OF EXCHANGE RATE, PRICE COMPETITIVENESS INDICES AND TAXATION ON INTERNATIONAL TOURISM DEMAND IN MALAYSIA

Author(s): Norasnita Ahmad,Nanthakumar Loganathan,Norsiah Ahmad,Tirta Nugraha Mursitama,Roshaiza Taha,Abbas Mardani,Dalia Streimikiene / Language(s): English Issue: 3/2019

This study examines the effect of Malaysia’s domestic taxation policy, price and exchange competitiveness with neighboring countries on international tourism demand in Malaysia based on the quantile estimation. Using monthly-based time series data, which set over the period of 1996-2017, we adopt the bootstrap quantile regression model to provide a comprehensive relationship of international tourism demand theory in Malaysia. The empirical results show that sales tax has a negative relationship with international inbound tourism demand, mainly at the middle quantile stages. Moreover, we also found that price competition from Thailand has a positive influence on Malaysia’s tourism demand; and appreciation of Indonesia’s exchange rate competitiveness tends to lead Malaysia’s tourism demand. These empirical findings open up new insights for policymakers in Malaysia as to how to improve fiscal policies and enhance continual increase of international inbound tourism demand in the upcoming years.

More...

Download

Finansowanie zielonej rewolucji za pomocą umów power purchase agreement

Author(s): Dariusz Michalski,Paweł Hawranek / Language(s): Polish Issue: 2/2021

The article discusses important issues related to financing investments in renewable energy with the use of power purchase agreements (PPAs). Further development of green energy should be expected and will be closely related to the development of green finance. The attractiveness of energy from renewable sources results from forecasts regarding the increase in the competitiveness of renewable energy in comparison to electricity from conventional power plants burning fossil fuels. The authors also indicate the increasing significance of the climate risk, which becomes an impulse for the development of green finance, creating instruments for responding to this risk. As a result of lowering investment costs, renewable energy sources (RES) are becoming the cheapest way to develop generation capacity in the global power industry. As a result, on many markets, the purchase of renewable energy for the needs of large industrial plants is competitive in comparison to the traditional power industry. The purchase of electricity from RES makes also possible to protect against price fluctuations caused not only by changes in the prices of fossil fuels, but also by greenhouse gas emission allowances, or the impact on energy prices of the climate change protection policy. Since the production of electricity is not the core activity of industrial plants, it is difficult to obtain positive decisions of owners to invest in renewable energy. Hence, the use of PPA instruments, that are not related to direct capital investments and the construction of fixed assets, is becoming popular. Importantly, PPAs ensure the liquidity of the market risk hedging in the long run, much longer than the liquidity of the futures market. That is why the article discusses the specificity of various types of PPAs and the risks associated with them.

More...

Download

Predicting Consumers’ Intention to Shop Online in an Emerging Market: A COVID-19 Perspective

Author(s): Afsarul Islam,Nishath Anjum,Imran Ahmed / Language(s): English Issue: 1/2021

As an emerging economy, Bangladesh has witnessed a remarkable development in adopting information and communication technologies over the last decade. Hence, the field of e-commerce is expanding rapidly and consumers are now using the internet as an alternative channel for buying. The fundamental purpose of this study is to predict consumers’ intention to purchase online during the COVID-19 pandemic in Bangladesh. Based on the Theory of Planned Behavior (TPB), this study attempts to explore certain factors (attitude towards online shopping, subjective norms, perceived behavioral control) affecting consumers’ online buying intention. A structured questionnaire has been used to collect the primary data through the CAWI survey method. A total of 157 respondents have participated in this study from different universities in Sylhet city, Bangladesh. This study employed multiple regression analysis to test the proposed research model. The findings indicate that all the predictors have a significant impact on consumers’ behavioral intention to do online shopping during the COVID-19 pandemic. However, any developing country like Bangladesh has a genuine need for more research works on the e-commerce field. This study provides some valuable insights into the adoption of the online shopping system in an emerging economy which helps the e-commerce industry to understand online consumers’ behavior to develop various marketing strategies accordingly. The study also contributes to the body of knowledge both at the academic and practical levels.

More...

Download

THE RISK OF THE POLISH EQUITY FUNDS IN THE YEARS 2004-2018 DETERMINED USING THE VAR AND CVAR MEASURES

Author(s): Dorota Żebrowska-Suchodolska / Language(s): English Issue: 1/2019

The work analyzed Polish equity funds due to the risk associated with investing in this type of instruments. The study was conducted using risk measures. ie Value at Risk (VaR) and conditional Value at Risk (CVaR). Similarity was measured using the tau-Kendall coefficient. The study examined 15 equity funds that existed in Poland since 2004. The entire research period (2004-2018) was divided into shorter periods ie 2-. 3-. 4- and 5-year periods. The fund rankings based on VaR and CVaR risks gave 15 similar results. In periods of big changes in the economic situation the measures were not able to properly estimate the risk.

More...

Download

Threats to Contemporary Economic Order

Author(s): Janusz Klisinski / Language(s): English Issue: 26/2020

The biggest threats to contemporary economic order were chronologically the bipolarity of the world after 1945, in which one of the poles despised money and the other based its prosperity on money. An attempt to create a unipolar world already dominated by the US dollar, practically was hardly acceptable. The US showed its strength when Japan in 1995 became a pretender to be No. 1 in the global economy. Also in 2008, American banks triggered a global financial crisis by creating bubbles of toxic real estate loans. The 2008 financial crisis also started a crisis of liberal democracy. China was much more powerful than Japan as the next pretender to become No. 1 in the global economy. About it can be seen as the beginning of a global conflict between the United States and China. In addition, the coronavirus pandemic has stopped globalization and is causing a global crisis.

More...