Sensitivity and importance of exports of goods and services to countries caused to identify the tool and its associated effective factors and strive to development of export. Customs services are important effective factors for the development of exports of goods and services. The current study examines the impact of electronic customs on export of goods and services. The results indicate that identifying new opportunities is effective to reduce transaction costs on export so that the reducing of transaction costs will be caused to creating a competitive advantage and will be developed with increasing in exports competitive advantage of goods and services. Also, the results showed that the reduction of transaction costs impacts on the export development.
Predicting the crude oil price is very interesting and prominent for all governments and different companies. Here a neutral network model has been modified, in a way that a genetic algorithm optimizes its parameters during its run. This model is able to predict the future price of crude oil very accurately. Comparing the model of this study with the pure neural network in predicting both daily and monthly crude oil prices confirmed its greater performance, especially in situation of small number of input data for training or the great changes of variables.
This paper investigates the long run sustainability of current account balance (CAB) in two fast growing emerging economies of Asia, China and India, using annual data from 1980 to 2014. Sustainability of current account balance is analyzed by examining the long run equilibrium relationship between exports and imports of goods and services. We use the Bayer-Hanck (2013) combined cointegration test to examine the long run relationship between exports and imports. The results indicate that while China has a sustainable current account balance, India's current account balance is not sustainable in the long run. Therefore, in terms of maintaining the growth momentum, India has to enhance the rate of growth of its exports while China has to maintain high levels of export growth, even in an era of sluggish global demand.
Behavioral economics, at broad level, superimpose many areas including Psychology and Economics. Behavioral economics by all means enhances the explanatory power of Economics as it provides it with a firm and more rational psychological basis. During the previous 20 years, many studies have explored different aspects of behavioral economics leading to introduction of the respective principles that pertain to human behavior. This article intends to provide an introduction to behavioral economics in its historical context. It also investigates the gaps that lie in the broad spectrum of behavioral economics.
This paper evaluates the nature of relationship between monetary policy and private sector credit as well as the impact of structural break on the relationship by applying a battery of econometric tests on Nigeria data. The cointegrating regression results reveal evidence of long-run relationship between monetary policy and credit to private sector. Estimates from the long-run parameter stability tests support cointegration in the presence of structural breaks. Similarly, error correction model results show that changes in credit have positive and significant short-term effects on changes in monetary policy. The results of innovation accounting also provide support to show that innovations in credit have impact on monetary policy. Granger causality analysis exhibits unidirectional causality from credit to monetary policy. The key implication of the findings is that credit to the private sector is an effective channel for monetary policy transmission in Nigeria. It is recommended therefore that monetary authorities in developing countries should consider credit as a major channel for implementing monetary policies.
When the things go towards CSR, measuring and evaluating have became one of the key goals for researchers and practitioners. Especially when it is linked to the funders point of view – while funding the companies it became certainly important to practically assess the level of the company's CSR. Therefore, in this paper the multiple criteria decision making (MCDM) methods are suggested and used as the most appropriate tool for solving different kinds of economics and social problems. While using AHP method, a CSR complex evaluation system is formed practically with prioritizing the most important CSR criteria from the funders point of view. Then the rest of the MCDM methods (SAW, TOPSIS, VIKOR and SoR) are used for the comparison of some real companies' CSR level. Finally the compatibility level of the methods is checked, in order to minimize the influence of each MCDM method to the final results.
This article is aimed at evaluation of the impact of shadow economy determinants on the scope of shadow economy in Ukraine over 2005 – 2012. The empirical research has revealed that 99 percent of shadow economy in Ukraine is explained by such determinants as tax rate, overall employment rate, import of goods and services, GDP and participation of working-age people in the labour market. The growth of the overall employment rate has a bidirectional impact on the scope of shadow economy in Ukraine: hired work increases the opportunities to earn legal wages, but probability of paying illegal wages is still high.