Currently, the emphasis is placed on sustainability, requiring economies to continuously innovate, demonstrating their competence for eco-innovation. This form of innovation is a key concept in today’s world, providing innovative and sustainable solutions to environmental challenges, expecting a high level of education. Thus, this paper aims to explore the relationship between eco-innovation and higher education within the member states of the European Union, concentraiting on the quantitative analysis of the impact of higher education on eco-innovation development in these countries. Applying regression analysis, the eco-innovation index and the level of education in EU countries will be inspected to establish any significant correlation between these two variables. Following the analysis, the collected data involved in the regression method will reveal possible interrelationships and significant influences between the level of education and the degree of eco-innovation development in the member countries of the EU. Conclusively, the research proposes to highlight the influence of higher education in the development of eco-innovation within the European Union. The suggested quantitative analysis could lead to a better understanding of the association between higher education and eco-innovation, revealing the potential that the education sector has in promoting sustainability and a green future for European Union.
{"title":"Eco-Innovation and Higher Education in the European Union: Exploring the Green Interconnection","authors":"Louisa-Maria Bucur","doi":"10.2478/sbe-2024-0003","DOIUrl":"https://doi.org/10.2478/sbe-2024-0003","url":null,"abstract":"Currently, the emphasis is placed on sustainability, requiring economies to continuously innovate, demonstrating their competence for eco-innovation. This form of innovation is a key concept in today’s world, providing innovative and sustainable solutions to environmental challenges, expecting a high level of education. Thus, this paper aims to explore the relationship between eco-innovation and higher education within the member states of the European Union, concentraiting on the quantitative analysis of the impact of higher education on eco-innovation development in these countries. Applying regression analysis, the eco-innovation index and the level of education in EU countries will be inspected to establish any significant correlation between these two variables. Following the analysis, the collected data involved in the regression method will reveal possible interrelationships and significant influences between the level of education and the degree of eco-innovation development in the member countries of the EU. Conclusively, the research proposes to highlight the influence of higher education in the development of eco-innovation within the European Union. The suggested quantitative analysis could lead to a better understanding of the association between higher education and eco-innovation, revealing the potential that the education sector has in promoting sustainability and a green future for European Union.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150498","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}
Tourism represents one of the sectors with the highest growth, and the upward trend of evolution implies the anticipation and adaptation to the changes in travel behavior. Currently, young travelers represent an important segment of the global tourism market. Generation Z decision-making processes are influenced both by the specific characteristics of the generation and by their travel habits. The travel motivations of the first generation born in the age of technology include socializing, acquiring unique experiences along with eco-friendly vacation options. During a trip, Generation Z visits museums, attends cultural or sports events and documents their choices by following travel influencers or social media posts. In these conditions, the paper aims to analyze the characteristics of the generation Z travel behavior and their perception of the future of travel. To achieve this objective, there will be a theoretical approach of generation Z coupled with secondary data analyses that will highlight the way young travelers organize their vacation.
旅游业是增长最快的行业之一，其发展的上升趋势意味着对旅游行为变化的预测和适应。目前，年轻游客是全球旅游市场的重要组成部分。Z 世代的决策过程既受其自身特点的影响，也受其旅游习惯的影响。出生在科技时代的第一代人的旅游动机包括社交、获得独特体验以及环保度假选择。在旅行过程中，Z 世代会参观博物馆、参加文化或体育活动，并通过关注旅行影响者或社交媒体帖子来记录他们的选择。在这种情况下，本文旨在分析 Z 世代旅游行为的特点以及他们对未来旅游的看法。为了实现这一目标，本文将采用 Z 世代的理论方法，并结合二手数据分析，重点介绍年轻旅行者组织假期的方式。
{"title":"Exploring the Generation Z Travel Trends and Behavior","authors":"Roxana Elena Popşa","doi":"10.2478/sbe-2024-0010","DOIUrl":"https://doi.org/10.2478/sbe-2024-0010","url":null,"abstract":"Tourism represents one of the sectors with the highest growth, and the upward trend of evolution implies the anticipation and adaptation to the changes in travel behavior. Currently, young travelers represent an important segment of the global tourism market. Generation Z decision-making processes are influenced both by the specific characteristics of the generation and by their travel habits. The travel motivations of the first generation born in the age of technology include socializing, acquiring unique experiences along with eco-friendly vacation options. During a trip, Generation Z visits museums, attends cultural or sports events and documents their choices by following travel influencers or social media posts. In these conditions, the paper aims to analyze the characteristics of the generation Z travel behavior and their perception of the future of travel. To achieve this objective, there will be a theoretical approach of generation Z coupled with secondary data analyses that will highlight the way young travelers organize their vacation.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150603","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 presents a framework for designing external financial intervention mechanisms in the form of partnership agreements between financial institutions and different economic participants involved in the farm machinery supply chain. The scope of these partnership agreements is to facilitate small farmers’ access to loans when purchasing agricultural equipment. The research methodology and research results are drawn from desk and field research conducted on the emerging agricultural market. Several inclusive conceptual models of financing mechanisms based on business relationships between financial institutions, small farmers and either the suppliers of agricultural equipment or buyers of agricultural outputs are presented.
{"title":"Developing Inclusive Models of Value Chain Financing","authors":"Roxana Florența Săvescu","doi":"10.2478/sbe-2024-0012","DOIUrl":"https://doi.org/10.2478/sbe-2024-0012","url":null,"abstract":"This paper presents a framework for designing external financial intervention mechanisms in the form of partnership agreements between financial institutions and different economic participants involved in the farm machinery supply chain. The scope of these partnership agreements is to facilitate small farmers’ access to loans when purchasing agricultural equipment. The research methodology and research results are drawn from desk and field research conducted on the emerging agricultural market. Several inclusive conceptual models of financing mechanisms based on business relationships between financial institutions, small farmers and either the suppliers of agricultural equipment or buyers of agricultural outputs are presented.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150516","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}
Alexandra Horobeţ, Maria-Alexandra Dalu, Cristina Negreanu
Exogenous shocks like the COVID-19 pandemic or the Russian conflict affected the global economy, but mostly emerging economies. Even though the critical moments have passed, the negative effects on the economy are still present in the current economic environment, characterized by high levels of uncertainty. Exogenous events, which have an uncertain likelihood of occurring, harm economies regardless of their development. In fact, a framework for unanticipated events is vital, as are steps to achieve low levels of national debt and increased authority stability. In this context, the objective of this paper is to examine the dynamic relationships between energy prices and certain macroeconomic variables, which were affected by the fact that the energy crisis triggered by the Russian-Ukrainian conflict overlapped with the accelerated transition to a green economy and the decarbonization process. The CEE countries are more vulnerable to the energy crisis, and their proximity to the front lines of military conflict can be an important fact to take into account. The research focuses on the Czech Republic, Hungary, Poland, and Romania. The empirical analysis was conducted on monthly frequency data and in order to present an effective method of modeling interactions between macroeconomic variables, the Bayesian technique was employed.
{"title":"Evaluating the Impact of Energy Price Shocks on Emerging Countries from the Non-Euro Area: A Macroeconomic Analysis","authors":"Alexandra Horobeţ, Maria-Alexandra Dalu, Cristina Negreanu","doi":"10.2478/sbe-2024-0018","DOIUrl":"https://doi.org/10.2478/sbe-2024-0018","url":null,"abstract":"Exogenous shocks like the COVID-19 pandemic or the Russian conflict affected the global economy, but mostly emerging economies. Even though the critical moments have passed, the negative effects on the economy are still present in the current economic environment, characterized by high levels of uncertainty. Exogenous events, which have an uncertain likelihood of occurring, harm economies regardless of their development. In fact, a framework for unanticipated events is vital, as are steps to achieve low levels of national debt and increased authority stability. In this context, the objective of this paper is to examine the dynamic relationships between energy prices and certain macroeconomic variables, which were affected by the fact that the energy crisis triggered by the Russian-Ukrainian conflict overlapped with the accelerated transition to a green economy and the decarbonization process. The CEE countries are more vulnerable to the energy crisis, and their proximity to the front lines of military conflict can be an important fact to take into account. The research focuses on the Czech Republic, Hungary, Poland, and Romania. The empirical analysis was conducted on monthly frequency data and in order to present an effective method of modeling interactions between macroeconomic variables, the Bayesian technique was employed.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150514","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 present study aims to assess the ecosystem services of the Danube Delta through a complex multi-factor hierarchical regression analysis. Using three different regression models, the research addresses multiple dimensions of human-nature interaction in this area of major ecological and cultural importance. First, the attractiveness of ecosystem services (VF1) was investigated, identifying a positive impact of improved infrastructure and tourism service provision on the local economy and visitor experience. It was also found that this attractiveness needs to be weighed with specific demographic and social needs. Secondly, the current perception and potential for conservation and tourism (VF2) was examined, revealing the link between effective resource management and the region’s tourism value. Thus, positive perceptions of conservation practices were found to be determinant in establishing the value of the Delta as a tourist destination. Finally, the impact of obstacles to Delta development (VF3) was considered, highlighting the importance of an integrated approach to development planning in the region. The recognised obstacles involve environmental, economic and social factors, and indicate the need for balanced management of natural resources. The results of the study highlight the need for multidisciplinary collaboration for effective management of the Danube Delta, emphasising the need to protect this unique habitat while promoting sustainable and inclusive development for the benefit of current and future generations.
{"title":"Ecosystem Services Evaluation of the Danube Delta: An Analysis Using Hierarchical Multifactor Regression","authors":"Kamer-Ainur Aivaz, Maria Șerbănescu","doi":"10.2478/sbe-2024-0001","DOIUrl":"https://doi.org/10.2478/sbe-2024-0001","url":null,"abstract":"The present study aims to assess the ecosystem services of the Danube Delta through a complex multi-factor hierarchical regression analysis. Using three different regression models, the research addresses multiple dimensions of human-nature interaction in this area of major ecological and cultural importance. First, the attractiveness of ecosystem services (VF1) was investigated, identifying a positive impact of improved infrastructure and tourism service provision on the local economy and visitor experience. It was also found that this attractiveness needs to be weighed with specific demographic and social needs. Secondly, the current perception and potential for conservation and tourism (VF2) was examined, revealing the link between effective resource management and the region’s tourism value. Thus, positive perceptions of conservation practices were found to be determinant in establishing the value of the Delta as a tourist destination. Finally, the impact of obstacles to Delta development (VF3) was considered, highlighting the importance of an integrated approach to development planning in the region. The recognised obstacles involve environmental, economic and social factors, and indicate the need for balanced management of natural resources. The results of the study highlight the need for multidisciplinary collaboration for effective management of the Danube Delta, emphasising the need to protect this unique habitat while promoting sustainable and inclusive development for the benefit of current and future generations.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150517","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}
Ramona Orăştean, Silvia Cristina Mărginean, Raluca Sava
Bitcoin and Ethereum are the two largest cryptocurrencies in the world by market capitalization and trading volume and the most popular despite high price fluctuations. This paper analyzes the relationship between Bitcoin and Ethereum metrics and the internet search interest on cryptocurrencies. As the literature shows, Google searches signal investor attention and Google Trends has proven useful for nowcasting economic and financial indicators. We aim to find the impact of Google Trends on Bitcoin and Ethereum prices, trading volumes and market capitalization since 2015 and discuss the potential correlations and patterns that may exist between these metrics and Google search interest. Through correlation and time-series analysis, we provide insights into the dynamics of this relationship and its implications for understanding cryptocurrency market behavior. The interest in cryptocurrencies tracked by Google Trends is a good indicator of measuring the social interest in the cryptocurrency market that drives a price movement. On the other hand, the price fluctuations of Bitcoin and Ethereum generate media and social attention and increase the interest in these cryptocurrencies. We also observe a positive effect of Google Trends values on trading volumes. The findings could help investors to understand the cryptocurrencies dynamics and build their trading strategies and could be of special interest to policymakers.
{"title":"Exploring the Relationship Between Google Trends and Cryptocurrency Metrics","authors":"Ramona Orăştean, Silvia Cristina Mărginean, Raluca Sava","doi":"10.2478/sbe-2024-0020","DOIUrl":"https://doi.org/10.2478/sbe-2024-0020","url":null,"abstract":"Bitcoin and Ethereum are the two largest cryptocurrencies in the world by market capitalization and trading volume and the most popular despite high price fluctuations. This paper analyzes the relationship between Bitcoin and Ethereum metrics and the internet search interest on cryptocurrencies. As the literature shows, Google searches signal investor attention and Google Trends has proven useful for nowcasting economic and financial indicators. We aim to find the impact of Google Trends on Bitcoin and Ethereum prices, trading volumes and market capitalization since 2015 and discuss the potential correlations and patterns that may exist between these metrics and Google search interest. Through correlation and time-series analysis, we provide insights into the dynamics of this relationship and its implications for understanding cryptocurrency market behavior. The interest in cryptocurrencies tracked by Google Trends is a good indicator of measuring the social interest in the cryptocurrency market that drives a price movement. On the other hand, the price fluctuations of Bitcoin and Ethereum generate media and social attention and increase the interest in these cryptocurrencies. We also observe a positive effect of Google Trends values on trading volumes. The findings could help investors to understand the cryptocurrencies dynamics and build their trading strategies and could be of special interest to policymakers.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150572","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}
Green (environmental) marketing, which promotes cleaner, less detrimental products, is considered to be one of the main contributors to sustainable production and consumption. With the latest EU policy initiatives aimed at acceleration of green transition, it deserves even more attention while the concept of environmental goods and services still remains a subject for discussion, and both comparative environmental impact of some of such products and the green demand probably are overestimated. The studies offer an approach to the theoretical concept of environmental goods and services providing the integrated vision through the prism of the ecological economics, national accounting, and marketing with the initial point of green (environmental) needs. To understand full potential of marketing for environmental sustainability, which is of growing importance, the studies address the sole purpose environmental products also as those which are beyond the green marketing efforts, but playing the equally important role. Production of environmental goods and services by the EU economy is analysed with special attention to groups of products by their primary purpose, and conclusions are drawn regarding the sustainability potential of different fields of marketing.
{"title":"Environmental Goods and Services: Developments of the Concept, the Economic Sector, and the Markets","authors":"Olena Vrublevska","doi":"10.2478/sbe-2024-0015","DOIUrl":"https://doi.org/10.2478/sbe-2024-0015","url":null,"abstract":"Green (environmental) marketing, which promotes cleaner, less detrimental products, is considered to be one of the main contributors to sustainable production and consumption. With the latest EU policy initiatives aimed at acceleration of green transition, it deserves even more attention while the concept of environmental goods and services still remains a subject for discussion, and both comparative environmental impact of some of such products and the green demand probably are overestimated. The studies offer an approach to the theoretical concept of environmental goods and services providing the integrated vision through the prism of the ecological economics, national accounting, and marketing with the initial point of green (environmental) needs. To understand full potential of marketing for environmental sustainability, which is of growing importance, the studies address the sole purpose environmental products also as those which are beyond the green marketing efforts, but playing the equally important role. Production of environmental goods and services by the EU economy is analysed with special attention to groups of products by their primary purpose, and conclusions are drawn regarding the sustainability potential of different fields of marketing.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150468","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}
One of the main benefits of air transport is that it allows people to travel quickly from one place to another. This allows people to reach their destinations faster than other modes of transport for purposes such as tourism, business and education. The aim of this study is to investigate the causality relationships between air travel and tourism demand by each market segment. The causality relationship between the number of domestic passengers, international passengers and total number of passengers and the number of domestic tourists, international tourists and total number of tourists is analyzed on a monthly basis for the period 2017–2021 in Turkey with Granger causality analysis. The findings revealed a two-way causal relationship between the number of domestic travelers and the demand for domestic tourism, as well as a two-way relationship between the demand for total travelers and the demand for total tourism. There is a unidirectional causal connection between the demand for inbound tourists and the quantity of international travelers. The research is expected to add to the body of work on the outcomes. It will also have implications for those who make decisions about infrastructure and policy.
{"title":"Investigating the Air Travel-Tourism Relationship Using Granger Causality Analysis: The Case of Turkish Destinations","authors":"Mehmet Yaşar","doi":"10.2478/sbe-2024-0016","DOIUrl":"https://doi.org/10.2478/sbe-2024-0016","url":null,"abstract":"One of the main benefits of air transport is that it allows people to travel quickly from one place to another. This allows people to reach their destinations faster than other modes of transport for purposes such as tourism, business and education. The aim of this study is to investigate the causality relationships between air travel and tourism demand by each market segment. The causality relationship between the number of domestic passengers, international passengers and total number of passengers and the number of domestic tourists, international tourists and total number of tourists is analyzed on a monthly basis for the period 2017–2021 in Turkey with Granger causality analysis. The findings revealed a two-way causal relationship between the number of domestic travelers and the demand for domestic tourism, as well as a two-way relationship between the demand for total travelers and the demand for total tourism. There is a unidirectional causal connection between the demand for inbound tourists and the quantity of international travelers. The research is expected to add to the body of work on the outcomes. It will also have implications for those who make decisions about infrastructure and policy.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150469","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}
Olajide Solomon Fadun, S. A. Aduloju, Mfon Sampson Ukpong
This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fire risk premium and real gross domestic product (RGDP) and assess the impact of fire risk premium on RGDP in Nigeria. The ex-post facto research design was adopted and the population consisted of all insurance companies covering fire risk as of 2019. Data were sourced from Nigeria Insurance Digest, the Central Bank of Nigeria statistical bulletin and the National Bureau of Statistics covering the selected years. The dependent variable for the study was RGDP while fire risk premium, exchange rate and money supply were independent variables. The trend analysis revealed that fire risk premiums increased at a faster rate than RGDP. while the regression analysis indicated a positive significant relationship between fire risk premiums and RGDP, and negative relationships between exchange rate and RGDP, as well as between money supply and RGDP. It was recommended that fire risk transfer should be encouraged for individuals and organizations to enhance its continued contribution to economic growth.
{"title":"Fire Risk Transfer and the Nigerian Economy (1999-2019)","authors":"Olajide Solomon Fadun, S. A. Aduloju, Mfon Sampson Ukpong","doi":"10.29117/sbe.2024.0146","DOIUrl":"https://doi.org/10.29117/sbe.2024.0146","url":null,"abstract":"This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fire risk premium and real gross domestic product (RGDP) and assess the impact of fire risk premium on RGDP in Nigeria. The ex-post facto research design was adopted and the population consisted of all insurance companies covering fire risk as of 2019. Data were sourced from Nigeria Insurance Digest, the Central Bank of Nigeria statistical bulletin and the National Bureau of Statistics covering the selected years. The dependent variable for the study was RGDP while fire risk premium, exchange rate and money supply were independent variables. The trend analysis revealed that fire risk premiums increased at a faster rate than RGDP. while the regression analysis indicated a positive significant relationship between fire risk premiums and RGDP, and negative relationships between exchange rate and RGDP, as well as between money supply and RGDP. It was recommended that fire risk transfer should be encouraged for individuals and organizations to enhance its continued contribution to economic growth.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140447076","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 analyses and investigates the impact of the oil sector crisis on the Libyan economy from 2012 Q4 to 2022 Q3, using the Bai-Perron model and a structural vector autoregressive model (SVAR). The findings demonstrate that the multiple structural breaks test statistics approved that nearly all of the study's variables had a structural break at years around political division and political agreement. In contrast to inflation, the results of the impulse response functions (IRFs) indicate that the shock to oil revenue had a considerable negative impact on the money supply and exchange rate. Furthermore, the study reveals that, with the exception of claims on the government with the central bank, shocks to oil revenue are the major contributors to variance decomposition for all variables. The results reveal that oil revenue, in particular, accounts for roughly 16%, 13%, and 16% of the variance decomposition of the money supply, exchange rate, and inflation rate, respectively. As a result, the oil sector crisis is a controlling factor in the explanation of variations in these variables. The study concluded that oil sector revenues have a sensitive impact on the Libyan economy and that the latter has a strong tide with a secure environment and political stability.
{"title":"The Macroeconomic Effect of Oil Sector Crisis in Libya","authors":"Hasen A. Ben-Taher","doi":"10.29117/sbe.2024.0147","DOIUrl":"https://doi.org/10.29117/sbe.2024.0147","url":null,"abstract":"This paper analyses and investigates the impact of the oil sector crisis on the Libyan economy from 2012 Q4 to 2022 Q3, using the Bai-Perron model and a structural vector autoregressive model (SVAR). The findings demonstrate that the multiple structural breaks test statistics approved that nearly all of the study's variables had a structural break at years around political division and political agreement. In contrast to inflation, the results of the impulse response functions (IRFs) indicate that the shock to oil revenue had a considerable negative impact on the money supply and exchange rate. Furthermore, the study reveals that, with the exception of claims on the government with the central bank, shocks to oil revenue are the major contributors to variance decomposition for all variables. The results reveal that oil revenue, in particular, accounts for roughly 16%, 13%, and 16% of the variance decomposition of the money supply, exchange rate, and inflation rate, respectively. As a result, the oil sector crisis is a controlling factor in the explanation of variations in these variables. The study concluded that oil sector revenues have a sensitive impact on the Libyan economy and that the latter has a strong tide with a secure environment and political stability.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140447062","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}
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