The European sovereign debt crisis has demonstrated the need for a rethinking of the European Integration Project. The strong variety between member countries prevented the Eurozone to become a fiscal and political union and the asymmetric architecture of the European Monetary Union (EMU) revealed different weaknesses. The outbreak of the Covid-19 emergency may represent a turning point for the EU and makes even more evident that the future of the Eurozone will depend also on the ability of member countries to make their institutional frameworks coexist. Helping member countries to achieve sustainable and stable outcomes, although in idiosyncratic ways, is the task of the European benchmark. It is a framework, inspired by European treaties, that aims to identify inefficiencies in terms of market, state and social failures and negative externalities inside economic, social, and political institutions. This benchmark represents a new tool for a correct evaluation of the economic, social, and political performance of the European member countries.
{"title":"The Future of the Eurozone: Towards a European Benchmark","authors":"Sara Casagrande, B. Dallago","doi":"10.52459/jowett13140122","DOIUrl":"https://doi.org/10.52459/jowett13140122","url":null,"abstract":"The European sovereign debt crisis has demonstrated the need for a rethinking of the European Integration Project. The strong variety between member countries prevented the Eurozone to become a fiscal and political union and the asymmetric architecture of the European Monetary Union (EMU) revealed different weaknesses. The outbreak of the Covid-19 emergency may represent a turning point for the EU and makes even more evident that the future of the Eurozone will depend also on the ability of member countries to make their institutional frameworks coexist. Helping member countries to achieve sustainable and stable outcomes, although in idiosyncratic ways, is the task of the European benchmark. It is a framework, inspired by European treaties, that aims to identify inefficiencies in terms of market, state and social failures and negative externalities inside economic, social, and political institutions. This benchmark represents a new tool for a correct evaluation of the economic, social, and political performance of the European member countries.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125818041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper aims to investigate structural convergence in selected African countries over the period 1994-2019. Using panel data for 48 African countries and several estimation methods [Panel-Corrected Standard Errors (PCSE), Feasible Generalized Least Squares (FGLS), tobit model, instrumental variable, and Granger non-causality], the results show the existence of the phenomenon of sectoral structural convergence in Africa, i.e. a greater similarity in sectoral structures while income gaps are narrowing. The paper also highlights the service sector's low relative productivity level and industrial sector's low labor force attractiveness despite a significant shift in labor from the agricultural sector and a higher level of relative productivity respectively. To address this issue, the development and acquisition of human and physical capital would be necessary to develop the industrial sector and increase the service sector's productivity.
{"title":"Structural Convergence between African Countries: Empirical Evidence","authors":"Ali BAKO OUSMANE, M. Şi̇şman","doi":"10.52459/jowett13130122","DOIUrl":"https://doi.org/10.52459/jowett13130122","url":null,"abstract":"This paper aims to investigate structural convergence in selected African countries over the period 1994-2019. Using panel data for 48 African countries and several estimation methods [Panel-Corrected Standard Errors (PCSE), Feasible Generalized Least Squares (FGLS), tobit model, instrumental variable, and Granger non-causality], the results show the existence of the phenomenon of sectoral structural convergence in Africa, i.e. a greater similarity in sectoral structures while income gaps are narrowing. The paper also highlights the service sector's low relative productivity level and industrial sector's low labor force attractiveness despite a significant shift in labor from the agricultural sector and a higher level of relative productivity respectively. To address this issue, the development and acquisition of human and physical capital would be necessary to develop the industrial sector and increase the service sector's productivity.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126974754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The success of implementing a state economic policy operating under the conditions of a particular economic model depends on the diversity of aspects. The social one is the most important among them. The social aspect of the economic system and politics is oriented first and foremost to human resources, which is the base of the social-economic system. In this article the interdisciplinary approach has been identified as a priority in the field of study of the essence and development of new types of socio-economic systems, considering the whole complex of factors of their environment of formation. The existence of a close interconnection of economic and social aspects has been determined: the influence of non-economic, including social, determinants on the development and functioning of innovative models of the state structure; ensuring social development through existing economic shifts. It's concluded that an interdisciplinary approach in analyzing the concept of sustainable development and finding ways of its implementation is a necessity.
{"title":"Interdisciplinary Approach to the Study of State Socio-Economic Systems","authors":"O. Pryiatelchuk","doi":"10.52459/jowett13120122","DOIUrl":"https://doi.org/10.52459/jowett13120122","url":null,"abstract":"The success of implementing a state economic policy operating under the conditions of a particular economic model depends on the diversity of aspects. The social one is the most important among them. The social aspect of the economic system and politics is oriented first and foremost to human resources, which is the base of the social-economic system. In this article the interdisciplinary approach has been identified as a priority in the field of study of the essence and development of new types of socio-economic systems, considering the whole complex of factors of their environment of formation. The existence of a close interconnection of economic and social aspects has been determined: the influence of non-economic, including social, determinants on the development and functioning of innovative models of the state structure; ensuring social development through existing economic shifts. It's concluded that an interdisciplinary approach in analyzing the concept of sustainable development and finding ways of its implementation is a necessity.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129748223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of the proposed paper is to study the specific factors shaping the benefits of information platforms as an innovative institutional form and model of doing business. Active dissemination of the business model of online platforms radically transforms the competitive landscape of the market environment. The task of determining the sources and mechanisms for studying the changes that are taking place is being updated. New areas of competition include competition between hierarchical and network structures, between global «structuring» platforms, competition in dominant platform ecosystems, the interaction between platforms operating in competitive markets, competition between organizers and users, and between platform users. The impact of platforming on cross-industry, regional and international competition is determined. The sources of competitive advantages of platforms are investigated. These include reliance on data as the main factor of production, changing the cost structure of entering the market; the possibility of building large-scale networks, niche specialization, combining the effects of increasing the scale of production and demand, multihoming, multi productivity, network effects.
{"title":"Transforming Competitiveness by Introducing Digital Platforms","authors":"O. Nosova, V. Lypov","doi":"10.52459/jowett13111221","DOIUrl":"https://doi.org/10.52459/jowett13111221","url":null,"abstract":"The purpose of the proposed paper is to study the specific factors shaping the benefits of information platforms as an innovative institutional form and model of doing business. Active dissemination of the business model of online platforms radically transforms the competitive landscape of the market environment. The task of determining the sources and mechanisms for studying the changes that are taking place is being updated. New areas of competition include competition between hierarchical and network structures, between global «structuring» platforms, competition in dominant platform ecosystems, the interaction between platforms operating in competitive markets, competition between organizers and users, and between platform users. The impact of platforming on cross-industry, regional and international competition is determined. The sources of competitive advantages of platforms are investigated. These include reliance on data as the main factor of production, changing the cost structure of entering the market; the possibility of building large-scale networks, niche specialization, combining the effects of increasing the scale of production and demand, multihoming, multi productivity, network effects.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131760165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dona Primasari, Eliada Herwiyanti, Rini Widianingsih, Puji Lestari
The Covid-19 pandemic has had an impact on various economic sectors in Indonesia, and consequently on Micro, Small, and Medium Enterprises (MSMEs) which have faced a decline in sales figures. The pandemic has forced MSME actors to reorganize their business strategies. Several MSMEs that could survive the impact of Covid-19 in Banyumas have implemented Technology-Based Financial Management which includes the use of software in managing their financial data so that MSME actors are able to calculate, manage, budget, predict expenses and profits to be achieved. The long-term goal of this research is to enrich the development of science, particularly, to examine bounded theory as the dominant factor influencing the intention of MSME actors in using financial software. Further, this research analyzes whether the financial software developed by the research team could help the process of MSME operational activities and has an impact on the sustainability of MSMEs during the Covid-19 Pandemic. Data collection for this study was carried out by distributing questionnaires through online media to MSME actors in the Banyumas Regency who were respondents and a direct approach to MSMEs concerning the use of financial software. The random sampling technique has been applied for this research, meanwhile, for data analysis the Statistical Product and Service Solution (SPSS), version 22.0, has been used. The expected results from this research may help to analyze and provide empirical evidence that bounded theory is the dominant factor influencing the intention of MSME actors in using financial software. The output of this paper can contribute to knowledge, especially regarding the implementation of financial software and theory development.
{"title":"Antecedents of Using Financial Software Applications on MSME Sustainability in Banyumas Regency during the Covid-19 Pandemic","authors":"Dona Primasari, Eliada Herwiyanti, Rini Widianingsih, Puji Lestari","doi":"10.52459/jowett13101221","DOIUrl":"https://doi.org/10.52459/jowett13101221","url":null,"abstract":"The Covid-19 pandemic has had an impact on various economic sectors in Indonesia, and consequently on Micro, Small, and Medium Enterprises (MSMEs) which have faced a decline in sales figures. The pandemic has forced MSME actors to reorganize their business strategies. Several MSMEs that could survive the impact of Covid-19 in Banyumas have implemented Technology-Based Financial Management which includes the use of software in managing their financial data so that MSME actors are able to calculate, manage, budget, predict expenses and profits to be achieved. The long-term goal of this research is to enrich the development of science, particularly, to examine bounded theory as the dominant factor influencing the intention of MSME actors in using financial software. Further, this research analyzes whether the financial software developed by the research team could help the process of MSME operational activities and has an impact on the sustainability of MSMEs during the Covid-19 Pandemic. Data collection for this study was carried out by distributing questionnaires through online media to MSME actors in the Banyumas Regency who were respondents and a direct approach to MSMEs concerning the use of financial software. The random sampling technique has been applied for this research, meanwhile, for data analysis the Statistical Product and Service Solution (SPSS), version 22.0, has been used. The expected results from this research may help to analyze and provide empirical evidence that bounded theory is the dominant factor influencing the intention of MSME actors in using financial software. The output of this paper can contribute to knowledge, especially regarding the implementation of financial software and theory development.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115303261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
More than 50% of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia run their business for reasons of livelihood, while 30% do this since MSMEs are profitable, and may support their living costs. This study aims to determine and analyze the influence of risk management behavior, characteristics of MSMEs through overconfidence on MSME business sustainability, and consequently MSMEs as a source of livelihood. The result of this study indicates that risk management behavior has a significant positive effect on overconfidence, while the characteristics of MSMEs have a significant negative effect on that. In turn, it’s shown that overconfidence had a positive and significant effect on the sustainability of MSMEs. However, the characteristics of MSMEs and risk management behavior had no significant positive effect on the sustainability of MSMEs. These results indicate also that MSME entrepreneurs’ overconfidence plays a major role in managing their business, which could be considered by the local government and/or the central government in determining MSME policies, such as placements to sell which are given and regulated by each local government considering the accessibility of sellers and buyers as well as their safety.
{"title":"Interdependence of Influence between Risk Management Behavior, MSME Characteristics, and Overconfidence on Business Sustainability \u0000(A case study in Indonesia)","authors":"Tyoso Jaluanto, S. Sukardi, E. Devita","doi":"10.52459/jowett1391221","DOIUrl":"https://doi.org/10.52459/jowett1391221","url":null,"abstract":"More than 50% of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia run their business for reasons of livelihood, while 30% do this since MSMEs are profitable, and may support their living costs. This study aims to determine and analyze the influence of risk management behavior, characteristics of MSMEs through overconfidence on MSME business sustainability, and consequently MSMEs as a source of livelihood. The result of this study indicates that risk management behavior has a significant positive effect on overconfidence, while the characteristics of MSMEs have a significant negative effect on that. In turn, it’s shown that overconfidence had a positive and significant effect on the sustainability of MSMEs. However, the characteristics of MSMEs and risk management behavior had no significant positive effect on the sustainability of MSMEs. These results indicate also that MSME entrepreneurs’ overconfidence plays a major role in managing their business, which could be considered by the local government and/or the central government in determining MSME policies, such as placements to sell which are given and regulated by each local government considering the accessibility of sellers and buyers as well as their safety.","PeriodicalId":331582,"journal":{"name":"Journal of World Economy: Transformations & Transitions","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114652010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}