Intellectual Economics最新文献

The aim of this article is to assess the impact of macroeconomic factors on housing price level in Lithuania over the period 2008–2015. The results of the research revealed statistically significant interdependence between aggregation of the major macroeconomic factors and the average annual housing price level in Lithuania over the researched period. Interest rate and availability of bank loans were established as the factors that have the most significant impact on housing price level in Lithuania.

This aim of the paper is to estimate a bioeconomic model for analyzing, the impact of technological innovation on social sustainability of rural middle in 21 Mediterranean countries by using a bioeconomic model during the period 2000–2011.Our empirical results show that the technological innovation has a positive impact on social sustainability.

Our paper analyses the intellectual perspectives of international migration based on its biases and underdeveloped aspects. We employ the empirical data from the survey questionnaire conducted in Turkey and Ukraine within the framework of the EU-funded EUMAGINE project with over 8.000 respondents. The aim of the research was to determine how Europe is perceived from outside the EU, and how these perceptions affect migration aspirations and decisions of potential migrants.

We assess the impact of demographic, structural and socio-cultural determinants of migration expectations, and draw the prospects for future studies on non-economic determinants of external migration.

Our main findings show that potential migrants can be divided into two streams of “euro-optimists” and “euro-pessimists” depending on such factors as social background, human and intellectual characteristics as well as other factors.

Results achieved by the pension fund depend on how well they are managed or more specifically – on whether all decisions taken by the management are in favour of the fund participants. The goal of this paper is to examine how to harmonize interests of second pillar pension fund participants and fund managing company shareholders.

An interview with executives of all pension funds managing companies was performed twice – in 2011 and 2016. The answers allow to make conclusions about possible conflict of interest in pension fund management and measures taken by the companies and the state to minimize the risk. A survey of 507 pension fund participants was performed in order to obtain information on participants’ attitude and expectations. Despite the fact that most of participants are dissatisfied with the pension fund performance results, they would not agree to allocate additional resources to hire more competent managers.

To protect the interests of pension fund participants the stability of the pension accumulation system as a whole must be ensured. Also it is important to promote mutual confidence of all interested parties, to provide participants with easily understandable information, reflecting real performance results.

As never before, turbulent business environments, scarcity of resources, hyper-competition and globalization have put significant competitive pressures on many businesses. Rapid specialized technology developments and increased global access to geographically unlimited markets allow consumers seemingly to have infinite choices for the best satisfaction of their needs in choosing desired products. Providing value to customers becomes vital to any organization to sustain the business in future. As a main task of design through design thinking is to seek value to customers, fosters management thinking from chaotic fluctuations in external turbulence and enables sustainable order in actions. This is why awareness of extended design application is becoming crucial hot topic nowadays among academics and practitioners.

The aim of this paper is to analyze awareness of design application and design thinking in Latvia, to highlight potentials of these innovative management methods and tools to build new organizational capabilities and sustain competitiveness in the challenging business conditions, to improve the welfare of society and create better environment for living.

Research was conducted to find out the stage of design application in broader sense leading to design thinking and design driven innovations was carried out in Latvia. 374 responses were collected from randomly selected companies in Latvia and as a results, due to national and regional specifics based on development level of micro and macro factors influencing entire innovation ecosystem, majority of business managers still focus on short-term business decisions and cost-reduction with limited awareness of design broader usage as a powerful innovation method for product development, improvement of business processes and renewal of business models.

Research findings prove the necessity to change thinking model of business management in order to develop the skills and capabilities to recognize emerging new driving forces of innovation unfolded through design thinking to ensure continuous value generation, order in external chaos and sustainable competitiveness.

In Ethiopia e-commerce for apparel products is growing by leaps and bounds among customers. It plays a significant role in the development and economic growth of country. Moreover, many companies are more active in focusing on online trade. It is very important to focus on the consumer acceptance towards e-commerce for apparel. According to famous researches consumer acceptance is one important ingredient for the companies to be successful and profitable. An investigation has been made to identify the key factors related to acceptance of e-commerce for apparel products in Ethiopia. An online survey has been used for this research to obtain the feedback from the customers all around Ethiopia; their feedback/response has been assessed using statistical analysis techniques. The results revealed that the inability to physically interact with an item, fear of risk security and privacy and lack of e-commerce infrastructure are the main barriers that prevent the consumers from online apparel product shopping. Acceptance levels are likely to be influenced by offering infrastructure like encouraging the use of Information and Communication Technology (ICT), improving the level of information on clothing sizes and fit on product web pages, trailing different checkout processes and different levels of information on product web pages, adding customer ratings and reviews to the website, offering free returns, providing virtual fitting, robotic mannequin which can adopt their precise, individual body shape and Substantial changes have been identified in this work to broaden the acceptance of e-commerce for apparel in Ethiopia.

Purpose of the article

Purpose of the present article is to identify drawbacks in the field of customs statistics of Georgia and to formulate concrete steps for their correction.

Methodology/methods

The methods of induction, deduction, analysis, synthesis, statistical observation and grouping have been used in the research process. The aim of the scientific work is to determine the principles for improving the statistical registration of commodity at the customs in Georgia.

Results

Countries of origin are not yet completely reflected in the cargo-customs declaration at the Georgian customs; the field ``means of transport at the border'' in the cargo-customs declaration is not filled in; data on estimated market value of the means of transport in the databases of Service Agency of the Ministry of Internal Affairs of Georgia is not complete; detailed coding of imported vehicles is carried out incorrectly; the simplified customs declarations are not completely filled in with reference to countries, 11-digit item coding and value. In terms of registration, certain problems are caused by the fact that a sender and a country of final destination are not always filled out in the declaration. Problems exist in producing foreign trade price indices, the issue being that he information on foreign trade statistics is classified according to the Harmonized Commodity Description and Coding System while price indices are calculated according to the classification of types of economic activity on the 4-digit level; in filling in declarations there are frequent errors related to registration of commodity code, weight and additional units of measurement.

Conclusions

Empirical data related to production of Foreign Trade Statistics are characterized with certain errors, as a part of foreign trade operations remains unregistered. It means that registered value of exports and imports does not fully correspond to the value of actual flows.

Exchange rates stability is an important monetary policy target. Hence monetary authorities aim at avoiding wide divergence between the official exchange rate and parallel exchange rates in most developing economies. This paper employs GARCH (1,1) and GJR-GARCH (1,1) models to estimate and compare volatilities of official, interbank, and bureaux de change markets Naira/US$ exchange rates for the January 1995–December 2014 period. The results of the study show that the volatilities of interbank and bureaux de change exchange rates in the previous periods influence current volatility of exchange rates. The results also show evidence of volatility clustering in the interbank market and bureaux de change Naira/US$ exchange rates. Sum of the ARCH and GARCH coefficients indicates evidence of volatility persistence in the exchange rates returns series. Comparative analysis between the exchange rates volatilities shows that the magnitude of impact of volatility shocks on current volatility as well as volatility clustering are greater in bureaux de change than in other exchange rates in Nigeria. The asymmetric parameter indicates that exchange rates depreciation tends to produce higher volatility in the immediate future than appreciation of the same magnitude in both the interbank and bureaux de change markets in Nigeria.

The paper follows Simar and Wilson's (2007) two-stage procedure to analyze the efficiency of the Malaysian banking sector. In the first stage, we employ the bootstrap Data Envelopment Analysis (DEA) method to compute the efficiency of individual banks during the period 1999–2008. We then use bootstrap regression to examine the impact of origins on bank efficiency, while controlling for the potential influence of contextual variables. The DEA results indicate that the Malaysian banking sector has exhibited increase in efficiency over the sample period. We find that banks from the Asian countries to be relatively more efficient compared to foreign banks from other regions and their domestic bank peers. In essence, the empirical evidence rejects the home field advantage hypothesis, but lends support to the “limited form” of the global advantage and the liability of unfamiliarness hypotheses.

This research shows how U.S. and German government bond yields can determine the EUR/USD exchange rate in the short run. After presenting the discussion on fundamental, technical and microstructure approach exchange rate determination models, a conclusion is made that out of the components of fundamental models the interest rates could be the best determinants for explaining exchange rate fluctuations in the short term. For the research the mostly traded currency pair, the EUR/USD, was chosen and 2-year, 10-year U.S. and German government bond yields were selected as determinants of the exchange rate. After performing the linear regression procedure it has shown that the model can determine 5 per cent of the daily EUR/USD fluctuations with a change in 2-year U.S. government debt yield being the greatest determinant in the model. It affects the exchange rate as it is stated in the uncovered interest rate parity model – when the yield increases, the USD declines against the euro and vice versa. Another finding is that an increase in the German 10-year government bond yield increases the price of the euro and the increase in the U.S. 10-year debt yield leads to an appreciation of the USD.