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Crypto și monede digitale - vor permite guvernele aceste noi forme de plăți?

Crypto și monede digitale - vor permite guvernele aceste noi forme de plăți?

Author(s): Ciel Man / Language(s): English Issue: 14/2023

Since the 2010s cryptocurrencies have started to acquire a popularity never seen before, influencing the way the general population, investors, and governments treat investments. It is no surprise that central banks are pursuing their own digital currency in order to boost the security of transactions and reduce counterfeiting. Throughout this paper, we are going to analyze and compare the market valuation of the ten most valuable cryptocurrencies and explain if it is possible that one of them could become a viable and widely used currency in the future. Additionally, we are going to examine the central banks that will pursue their own digital currency and the reasons as of why they chose to venture into this new uncharted technology.

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Fraude legate de fondurile UE. Studiu de caz România

Fraude legate de fondurile UE. Studiu de caz România

Author(s): Florin Alexandru Roman,Monica Violeta Achim,Robert W. McGee / Language(s): English Issue: 14/2023

According to the latest PIF report on the protection of the financial interests of the European Union, in 2021 Romania reported to the European Commission fraud related to European projects worth 1.4 billion euros. The reported amount is quite impressive as it represents over 80% of the total amounts reported as being fraudulently obtained in 2021 by all member states, making Romania a true performer in this regard at the European level.Starting from these values, using descriptive statistics, the study analyzes the data reported by Romania in the last ten years, compared to the other EU member states, data extracted from the PIF Reports (2012-2021), trying to verify if Romania’s status as a champion in terms of fraud with European funds is fully deserved or circumstantial.Although the numbers show that Romania is indeed a performer in this regard, both in terms of value and the number of reported cases, these values must be viewed in context, as they are influenced by a wide series of factors, including reporting errors, the capacity and willingness of member states to detect irregularities, as well as the particularities of the awarding procedures and contracting periods. Also, in the end, the paper presents some recommendations for strengthening efforts to combat the phenomenon of fraud related to EU funds in Romania.

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Aplicarea modelării ARDL în cazul șocurilor structurale globale și impactul dinamic al acestora asupra ISD

Aplicarea modelării ARDL în cazul șocurilor structurale globale și impactul dinamic al acestora asupra ISD

Author(s): Adelina-Andreea Siriteanu,Erika-Maria Doacă / Language(s): English Issue: 14/2023

In general, sustainable economic growth is highly dependent on technological progress, managerial knowledge, and money supply in the economy. Globally, the COVID-19 pandemic has caused structural shocks to economic systems by increasing high economic uncertainty. For this reason, policymakers are exploring alternative measures to stimulate economic growth. And among these alternative measures we also find foreign direct investment, which represents an instrument widely used worldwide. There is a trend among foreign investors that they increasingly focus on the quality of institutions, especially on FDI policies in domestic countries. For this reason, governments of developing countries are increasingly adopting soft policies to attract FDI. Generally, the policies provide substantial taxation provisions. Thus, by stimulating foreign direct investment in global economic operations, short- and long-term growth is achieved. The beneficial effects of FDI are given by their unprecedented impact on achieving sustainability worldwide. The motivation of this study is to scale the effects of environmental quality and good governance on FDI inflows in European Union member countries for the period 2002-2021. We used the estimation of autoregressive distributed lag and error correction models to investigate the association and elasticity of explanatory variables on FDI inflows in EU member countries. Thus, as independent variables we use CO2 emissions from solid fuel consumption and the sum of exports and imports of goods and services. Environmental degradation comes from the depletion of resources by human activity, and ultimately this leads to increased costs and depletion of capital. As a result, environmental quality is crucial to the health of both people and businesses. In the recent economic booms, international trade needs serious attention to form new policies to invite more foreign investors. And as control variables we introduce Government effectiveness index and Gross capital formation. We introduce these variables because it is believed that weak institutional capacity can have a negative impact on economies. The study results suggest that government efficiency and a less regulated environmentally concerned economy drive capital transfer decisions.

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International Trade and Imperial Precursors: The Evolution of a New Nigerian Economy in the 19th and 20th Centuries

International Trade and Imperial Precursors: The Evolution of a New Nigerian Economy in the 19th and 20th Centuries

Author(s): Abdulrasheed Abdulyakeen,Abdullahi Isma’eel Muktar / Language(s): English Issue: 55/2023

Capitalism has perpetuated class antagonism which breeds dissatisfaction amongst people in a bid to seek equality and justice in the distribution of power and economic resources. This study analyses International Trade and Imperial Precursors into the New Nigerian Economy in the 19th and 20th Century. Using data generated from secondary sources and descriptive analysis, it has been realized that the Nigerian economic elite play negative role in the economic dependency processes of the country. Finding also reveals that, Government policies in Nigeria are foreign oriented in nature, therefore, favoring foreign western economies at the detriment of Nigerian interest. The study conclude that there is a need to channel our energies to producing for internal needs and consumptions but these calls for a change in the values of principle of the indigenes, there are far too many acts of indiscipline and self–indulgence on the part of the generality of our people in all the starter of our society.

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THE DEVELOPMENT OF THE BUDGET CONCEPT AFTER THE WORLD WAR II

THE DEVELOPMENT OF THE BUDGET CONCEPT AFTER THE WORLD WAR II

Author(s): Anișoara Băbălău / Language(s): Romanian Issue: 20/2020

Public finances are a constant presence in the life of human society, which is in a permanent process of evolution. The socialist finances constituted a system of formation and planned distribution of the money funds in the national economy, in order to develop the production of goods. Thus, they included the existing monetary relations between the socialist society as a whole, and enterprises, organizations, and population on the other, as well as the monetary relations of the enterprises and organizations between them. Therefore, the socialist finances referred to the state budget, the finances of the state-owned enterprises, the craft and consumer cooperation, the state social insurance, the state insurance for goods and persons, the various forms of credit. Within the socialist financial system, the state budget occupies the main place. It was the main form of constitution and distribution of the centralized fund of state money resources, in order to ensure the fulfillment of the plans of the national economy.

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CHARACTERISTICS OF COMMUNICATION IN THE LOCAL PUBLIC ADMINISTRATION. CASE STUDY: BUCHAREST, CLUJ-NAPOCA AND TIMISOARA

CHARACTERISTICS OF COMMUNICATION IN THE LOCAL PUBLIC ADMINISTRATION. CASE STUDY: BUCHAREST, CLUJ-NAPOCA AND TIMISOARA

Author(s): Lucian Vasile Szabo / Language(s): English Issue: 20/2020

The purpose of this study is to evaluate the ways in which the local public administration in Romania makes use of the opportunities offered by the development of digital communication. Another purpose is to identify the ways in which it builds its websites, how it uses them for efficient communication with the users, which the strategies of interacting with them are and which are the ways to involve the citizens in taking decisions important to the community. The public communication systems in three large urban centres of Romania – Bucharest, Cluj-Napoca and Timisoara – were examined. Special attention was given to both technological and media convergence in this communication relation and to the way in which the institutional websites function, observing whether the information is efficiently conveyed to the public. Another aspect taken into consideration is the way in which the citizens are encouraged to express their opinions and to take part in the decision making process. Modes of communication over controversial topics – the deficiencies of the local administration activity, the possible involvement of some mayors in corrupt activities – were analysed. These elements pinpoint the communication difficulties that the Romanian local administration encounters.

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Финансово моделиране в условия на неопределеност

Финансово моделиране в условия на неопределеност

Author(s): Yuliyan Velkov / Language(s): Bulgarian Issue: 14/2022

Financial modeling under uncertainty is an intelligent methodology for examining accounting information. It is developed in connection with the lack of accuracy in the quantitative description of objects in the real economy; reflects the uncertainty, ambiguity and high dynamics of the change of factor influences on the characteristics of the company. By validating conventional means of addiction assessment and analysis, it foregrounds approaches and methods that have the ability to reproduce intelligence. The theoretical and methodological framework of financial modeling under uncertainty is formed by the knowledge of fuzzy sets and related fuzzy quantities, fuzzy mathematics and fuzzy logic. Functionally, it implements the three-stage algorithm for working with controlled approximation – fuzzification the input information, evaluating the complex performance and defuzzification the result. At the same time, the accounting indicators of the company are interpreted according to the characteristics of human thinking, individual/group experience, subjective intuition, preferences. Decision-making is extended to those objects and relationships that are not subject to precise evaluation. Financial management as a whole gains increased utility, ability to emulate human thinking, flexibility, speed, efficiency and easy modifiability.

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Using Big Data by Ukrainian official statistics when martial law applies: problems and solutions

Using Big Data by Ukrainian official statistics when martial law applies: problems and solutions

Author(s): Oleksandr Osaulenko,Olena Horobets / Language(s): English Issue: 1/2023

The article is focused on issues of the secure operation of official statistics in Ukraine during the application of martial law. It was found that the gaps in conventional sources of statistical data caused by the war needed to be filled with data from alternative sources, including Big Data. The level of digitalisation in Ukraine as the basis for using Big Data was analysed by the proposed indices of internetisation, social progress and digital transformation. Thanks to our research, several problems (methodological, legal, financial, and managerial) were identified as vital for statistical offices on their way to the implementation of Big Data in statistical processes. Our proposals concern tools for Big Data processing, such as Data Hypercube as a way for presenting Big Data for their visualisation, applications of Web scraping in estimating the consumer prices index, analyses of labour and real estate markets, and the applications of specialised software for the collection, processing and analysis of Big Data sets.

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2008 Küresel Ekonomik Krizi ve Türkiye’de Sektör Kârlılığı

2008 Küresel Ekonomik Krizi ve Türkiye’de Sektör Kârlılığı

Author(s): İsmail Çakmak,Selcen ÖZTÜRK / Language(s): Turkish Issue: 2/2023

The 2008 global economic crisis stands out as one of the most significant economic events in recent history. From originating in the financial sector, the crisis swiftly spread to the real sectors of developed and developing economies, its contagious effects exacerbating the situation. This study aims to examine the impact of the 2008 crisis on sectoral profitability in Turkey. Specifically, the study seeks to identify the factors that affected profitability during the crisis and to forecast sectoral profitability in the absence of the crisis. The findings of the study demonstrate that between 2006 and 2014, factor costs with value added, exports, domestic sales, and foreign exchange profits had a significant and positive impact on sectoral profitability. Furthermore, it was found that the construction and transportation sectors, particularly the manufacturing industry, were significantly affected by the crisis. However, in subsequent years, as efforts were made to mitigate the effects of the crisis, the profitability of the sectors began to recover, even surpassing the projected profits with the implementation of supportive policies.

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Budżet obywatelski / partycypacyjny w kontekście budżetów miast
wojewódzkich

Budżet obywatelski / partycypacyjny w kontekście budżetów miast wojewódzkich

Author(s): Ambroży Mituś / Language(s): Polish Issue: 2/2022

The subject of the study is a theoretical and legal analysis of the participatory/civic budget in the context of budgets of voivodeship cities in order to show regulatory shortcomings. The formulated hypothesis boils down to the claim that the participatory budget institution, despite the legal changes already made, requires further regulatory improvements. The content of the article has been divided into four parts. The first two present the essence and legal framework of the participatory budget and indicate regulatory shortcomings. The third part contains the results from the comparison of selected elements of civic budgets of voivodeship cities. The fourth part, presenting legal instruments/institutions similar to the participatory budget, complements the analyzed issues. The analysis uses methods appropriate to the social sciences, and in particular to the legal sciences, such as the dogmatic, historical and comparative method.

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RELEVANT ASPECTS REGARDING THE EVOLUTION OF ROMANIA'S EXTERNAL DEBT IN THE PERIOD 2010-2020

RELEVANT ASPECTS REGARDING THE EVOLUTION OF ROMANIA'S EXTERNAL DEBT IN THE PERIOD 2010-2020

Author(s): Anișoara Băbălău / Language(s): Romanian Issue: 24/2021

The emergence of public debt was determined by several causes, such as changing the political regime, financing public works, supporting social investments, financing budget deficits, balance of payments crises, etc. Thus, the current problems caused by the management and administration of public debt in Romania have their origin in the change of political regime after the events of 1989. In the early 1990s, Romania no longer had to pay external debts, due to the considerable sacrifices borne by the people (especially between 1980-1989). As is well known, at the beginning of the transition years, the Romanian state was forced to apply for external loans to support the balance of payments, whose size has increased from year to year. We can see a sharp increase in external debt over the last decade, the only period that tried to keep a minimum of balance was between 2014-2016.

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Indicators of financial fraud in the Ghanaian mobile payment industry in the pre-pandemic period

Indicators of financial fraud in the Ghanaian mobile payment industry in the pre-pandemic period

Author(s): Solomon Arhin / Language(s): English Issue: 1/2023

This study seeks to investigate recent rampant financial frauds and their impact on the financial performance of the four mobile payment companies in Ghana. The study used secondary data obtained from the consolidated financial statements for the past 10 years (2010-2019) of the mobile payment companies’ operations around the world. The sample consists of the subsidiaries of the four companies whose consolidated financial information is available for public use. Methodologically, factor analysis, pair sample t-test, and principal component analysis were exploited in the analyses to estimate and predict the relationship between fraud and its impact on financial performance indicators. The combined results offer theoretical contributions in the area of the adoption of multiple fraud theories within the framework of the neoclassical growth model. The application of the outcome to practice is the use of the result for predictability and financial sustainability of the mobile companies over future periods.

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The need for vendor development programmes to increase the efficiency of the automotive industry in Pakistan

The need for vendor development programmes to increase the efficiency of the automotive industry in Pakistan

Author(s): Mohsin Moin,Tooba Khan / Language(s): English Issue: 1/2023

Although there is always a need for further development in business models and industrial organisations via gradual improvements in their operations including production activities, warehouse management and supply chain management, it is quite obvious that from the present rise in inflation, a gap between the employees and the employers has been observed in the automotive sector due to a lack of vocational training or vendor development programmes causing uncertain attributes. The study aimed to highlight the significance of vendor development programmes in the automotive sector along with hindering factors and uncover the impediments that do not allow the encouragement of vendor development programmes in the said industry in Pakistan. The methodology for this research is qualitative, which will take the best measures by collecting the data from the vendors, especially from the operations department as this department is having deep insight and core knowledge about the organisation. The study concluded that financial constraint is the major factor that limits vendor development programmes in the automotive industry of Pakistan.

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The effect of international trade on economic growth: Evidence from Ghana

The effect of international trade on economic growth: Evidence from Ghana

Author(s): Evans Yeboah,Haggai Chibale Chibalamula,Francis Atiso / Language(s): English Issue: 1/2023

International trade has been paramount to every country, especially developing economies, as it enables them to access goods and services they cannot produce. The Ghanaian economy has been highly dependent on imports over the years. This study examined the effects of foreign trade (export and import) on economic growth using data from the World Bank from 1990 to 2020. To ensure the accuracy of the results, econometric methods including a unit root test, the Johansen cointegration test, the vector error correction model and the Granger causality test, were employed. The ADF and Kwiatkowski-Phillips-SchmidtShin unit root tests showed that the variables were non-stationary at the level and integrated at the first-order difference. The study finds exports and imports to support Ghana's economic advancement. This study recommends the government to supports and encourage domestic firms to produce on a large scale for domestic consumption and exports.

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Fiscal Burden as a Determinant of Innovation Performance in the CEE Countries
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Fiscal Burden as a Determinant of Innovation Performance in the CEE Countries

Author(s): Paweł Felis,Michał Bernardelli,Marcin Jamroży,Jacek Lipiec,Joanna Szlęzak-Matusewicz,Grzegorz Otczyk / Language(s): English Issue: 03/2023

This article aims at finding a relationship between the degree of fiscalism and innovation in eleven countries in Central and Eastern Europe (CEE). The article uses clustering algorithms to divide countries into groups, with the most similar features in a multidimensional space generated by values of adopted indices, irrespective of fiscalism and innovation. Econometric modelling based on panel data was used to identify directions and the strength of the relationship between different variables. The article finds that fiscalism and innovation performance are closely interrelated. The article uses selected (limited) indices to exhibit the relation between fiscalism and innovation. The impact of tax competition may be used to give a broader perspective on this relation. The implication for the public policy is that high value of tax-to-GDP (gross domestic product) coexists with low labour costs and entrepreneurs’ attitude to investment in innovation. It is among the first articles to exhibit a relation between innovation and fiscalism in the CEE countries. In addition, the article uniquely uses clustering methods combined with the econometric panel model.

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The influence of the COVID-19 pandemic crisis on the real convergence of the member states of the European Monetary Union

Author(s): Tudor Mugurel Aursulesei / Language(s): English Issue: 1-2/2023

In this scientific paper, we will start from the COVID-19 pandemic crisis and try to highlight how the real convergence of the euro area member states was influenced during this period as a result of the implementation of various measures to limit economic activities. We propose to create an aggregate index of real convergence, starting from the theory of optimal monetary zones. After the construction of this index, we propose to calculate an index value for all 20 member states of the European Monetary Union (including Croatia), in the period 2011- 2022. Our aim is to observe how real convergence in the euro area has been influenced during the COVID-19 pandemic crisis. Something that can be easily concluded from the results obtained. At the end of the article, we manage to classify the member states of the European Monetary Union into 3 large clusters, depending on how their convergence index is compared to that of the euro zone average.

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Improving Living Conditions, Deepening Class Divisions: Hungarian Class Structure in International Comparison, 2002–2018
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Improving Living Conditions, Deepening Class Divisions: Hungarian Class Structure in International Comparison, 2002–2018

Author(s): Ákos Huszár,Katalin Füzér / Language(s): English Issue: 02/2023

This article investigates the changing relationship of class and the living conditions of individuals in Hungary in comparison with other European countries. Our central question is to what extent class position determines the material living conditions of individuals in Hungary, how this relationship has changed, and how significant it is compared to other European countries. Our analysis is a direct test of the death-ofclass thesis in one of the core fields of class analysis. Our results show that there has been a rapid and large-scale restructuring of Hungarian society after 2010, with two notable tendencies. The first is an overall improvement of material living conditions at all levels of the class structure, the other is the gradual solidification and polarisation of class structure.

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SUCCES FACTORS AND BARRIERS IN IMPLEMENTING PUBLIC PROJECTS

SUCCES FACTORS AND BARRIERS IN IMPLEMENTING PUBLIC PROJECTS

Author(s): Nicoleta Lașan / Language(s): Romanian Issue: 32/2023

The concept of project management has been developed in the private sector, and only in the last decades this practice has been transferred to the public sector. The concept of „public project” is very ambiguous, but in general it refers to projects that are financed from public money and are traditionally in the property or implemented by public institutions. Determining the success factors and barriers in implementing public projects represents a complicated process but one that is absolutely necessary in order to increase the efficiency of public projects.

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CUMHURİYETİN 100. YILINDA ASTSUBAYLAR: KAMU MALİ YÖNETİMİ BAKIMINDAN BİR İNCELEME

CUMHURİYETİN 100. YILINDA ASTSUBAYLAR: KAMU MALİ YÖNETİMİ BAKIMINDAN BİR İNCELEME

Author(s): Üyesi Fatih ÇAM / Language(s): Turkish Issue: 59/2023

Since the establishment of the Republic, the presence of non-commissioned officers, who play an active role in the Turkish Armed Forces and have an important position at the tactical and strategic level, has become increasingly important with the formation of cadres in accordance with western standards. This research aims to reveal the problems of the non-commissioned officer status in the TAF within the Turkish administrative organization in terms of public financial management, wage regime, and management sciences dynamics. Determining the negative effects of these problems on non-commissioned officers, especially starting from the 1950s, and reaching innovative solutions in the light of the findings are among the main objectives. Within the scope of the research, factors such as status, wage regime, and career satisfaction for retired noncommissioned officers in the Turkish Armed Forces are discussed in terms of public financial management concepts and management sciences perspective. In the research, due to the formal nature of the research universe, special attention was paid to the use of open data sources for non-commissioned officers. Secondly, “retired non-commissioned officers” who volunteered to participate in the study were expected to answer the research questions through communication/computer technologies. In addition to basic determinant questions (age, gender, education level, etc.), income status, life satisfaction, and pay satisfaction scales were used. Exploratory factor analysis, correlation analysis, and regression analysis were applied to the data obtained. As a result of the analyses, in line with the initial assumptions, problems related to the wage regime, the existence of damaged work peace, and problematic areas in corporate identity perception, which are far from job satisfaction and specific to large structured organizations, were identified.

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Предпазарно възлагане: в търсене на иновативни решения от страна на публичния сектор

Предпазарно възлагане: в търсене на иновативни решения от страна на публичния сектор

Author(s): Miglena Pavlova,Petya Dimitrova,Kristina Vasileva / Language(s): Bulgarian Issue: 3/2023

Public sector expenditures in the form of public procurement form 14% of the gross domestic product of the European Union. Realizing the potential of this impressive purchasing power determines the direction of building new concepts in the procurement process. A strategic understanding of procurement hat shifts the focus from “how” we buy to “what” we buy is outlining. Innovative procurement is one aspect of the strategic concept for this peculiar relationship between the public and private sectors. Pre-commercial procurement as an approach to purchase innovative solutions in response to identified needs of the public sector adds value not only in terms of buyers, but also to achieve economic growth by creating competition in the market, accelerated commercialization of innovative solutions, improvement of cooperation between market entities, incl. cross-border etc.

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