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This paper analyzes the persistence of the sovereign debt / GDP and sovereign debt / GDP per capita series for the five largest European economies and the US using fractional integration. We use historical data starting in 1800 for the US and the UK, in 1861 for Italy and in 1880 for Germany, France and Spain. The results indicate high degrees of persistence of debt-to-GDP and debt per capita ratios with clear evidence of no mean reversion in both debt indicators. We also find evidence of correlation with the primary deficit, supporting the idea that one of the causes of this debt persistence is precisely the primary deficit persistence. Empirical results support the need for a better coordination between fiscal and monetary policies to enhance debt control in the countries under examination. [ABSTRACT FROM AUTHOR]

The construction industry has a major impact on the growth of any country due to its contributions to economic activity and development.Up until thirty-three years ago, Albania was perceived as a nation with a closed society that had undergone rapid development. By contemporary standards, the settlement was tiny. She observed the change from a stable economy to one that is reliant on markets. Particularly in recent years, the area primarily the city of Tirana recorded a significant building boom. This research endeavor aimed to examine the correlation between the building industry and the overall economy. Regression analysis and the correlation between the variables are the fundamental techniques that will guide the creation of this kind of evaluation study. Starting with the quarter of 2008 and ending with the first quarter of 2023, the data is quarterly.In Albania, buildings make up a fairly large portion of the country's total built environment—roughly 15.20%. Before 1990, they constructed 165 new subway buildings a year on average. Currently, the city's market economy is made up of approximately 4.28% of the construction industry. He lists 1,143 building companies around the nation. The data was obtained from the Institute of Statistics (INSTAT). The growth of the construction industry raised demand during economic booms, spurred by both public and private sources of funding. During these times, public spending on the building industry is higher and depends on outside funding sources (Grebler and Burns, 1982). GDP is assumed to have a greater influence on the building industry in developing nations; yet, the influence of GDP may decline or even turn negative when a country's degree of development rises (Crosthwaite, 2000). One of the largest sectors of the global economy and a significant contributor to GDPs is construction. The aim of this paper is to analyze whether the value of construction permits affects economic growth in the Albanian case, for the time period of 2008-2023, based on quarterly data. The database is collected from the National Statistics Office (INSTAT). The results of the study have revealed that cities may plan their spaces compactly to maximize public transportation use and maintain environmental and economic sustainability. They should create and update their regulatory plans, known as the land use plan in compliance with the national objectives and local vision in order to save the environment or other public interests. [ABSTRACT FROM AUTHOR]

This paper examines the short run relationship between domestic expenditure (or absorption), GDP, and the trade balance. It first presents a simple framework to illustrate how domestic expenditure shocks either directly impact national output or net exports. The more domestic spending affects the trade balance, the greater the independence between aggregate demand and supply. The paper then econometrically examines whether short run expenditure variation has translated mainly to GDP or trade balances for a group of trade deficit prone advanced economies – the United States, the United Kingdom, Australia, New Zealand, Ireland, Italy and Spain – from the turn of the century. The results provide strong evidence of very close correspondence between aggregate and disaggregated domestic spending, and trade balances in these economies. This is consistent with the classic Mundell–Fleming approach and intertemporal models of external account determination. [ABSTRACT FROM AUTHOR]

This article attempts to analyze the role of pharmaceutical industry intellectual property rights and comparison of Saudi Arabia with other watch list and non-watch list countries according to the US trade representative Special 301 Report. Time series data (2001-2020) is used to compare and analyze the data using simple regression. Also, Covariance analysis and least square method are used to compare the data of other countries with Saudi Arabia. It was found that there is significant impact of the Saudi pharmaceutical industry on the GDP, and it has also developed its IPRs, patents, trademarks, and trade secrets. Macroeconomic outcomes are strongly tied to the enforcement of IP laws in both watch list and non-watch list countries. Therefore, it is important to underline the differences in IPR in these countries. This will help us to test whether empirical results at macro-level-that are alleged to be led by the stronger or weak IP laws - hold in the actual IP Law enforcements. In this paper, we investigate the differences and similarities in IP laws in these selected countries. [ABSTRACT FROM AUTHOR]

The ongoing COVID-19 pandemic has caused global health impacts, and governments have restricted movements to a certain extent. Such restrictions have led to disruptions in economic activities. In this paper, the GDP figures for the April–June quarter of 2020 for eight countries, namely, the United States, Mexico, Germany, Italy, Spain, France, India, and Japan, are forecasted. Considering that artificial neural network models have higher forecasting accuracy than statistical methods, a multilayer artificial neural network model is developed in this paper. This model splits the dataset into two parts: the first with 80% of the observations and the second with 20%. The model then uses the first part to optimize the forecasting accuracy and then applies the optimized parameters to the second part of the dataset to assess the model performance. A forecasting error of less than 2% is achieved by the model during the testing procedure. The forecasted GDP figures show that the April–June quarter of the current year experienced sharp declines in GDP for all countries. Moreover, the annualized GDP growth is expected to reach double-digit negative growth rates. Such alarming prospects require urgent rescue actions by governments. [ABSTRACT FROM AUTHOR]

This paper discussed modern macroeconomics vis-à-vis Islamic economics. A description is given of the relevant macroeconomic fields under relevant headings and then discussed, scrutinized and Islamic perspective offered. The paper believed that capitalist macroeconomy is unsustainable and detrimental to human welfare and environment and that Islamic model is the best model to sustain human welfare, environment and economic growth and the only option we have to replace capitalist system of economy. [ABSTRACT FROM AUTHOR]

This study examined the macro-prudential factors that affected Nigerian banks' stability between 1990 and 2020. The key purpose was to examine the extent to which RGDP growth rate, Inflation Rate, Balance of Payment (% of Total Assets), capital adequacy ratio, liquidity ratio, and sensitivity to market risk have affected banks financial stability in Nigeria. The data for the study were obtained from the CBN Statistical Bulletin, Financial Stability Report, and Annual Reports of all DMBs in Nigeria. Since the unit root test confirmed that the study variables achieved stationary both at level and first difference, the data were subsequently analyzed using ARDL approach. The findings showed that both in the short and long run, the real gross domestic product growth rate had a statistically significant beneficial influence on financial stability. Only in the short run do the rates of inflation, capital sufficiency, and payment balances have a negative, significant impact on financial stability. At a 5 percent level, liquidity had a significant beneficial impact on financial stability, but sensitivity to market risk had a significant positive impact in the short run but a negative impact over the long run. The paper is original by extending previous studies to developing economies and incorporated a wide range of macro-prudential determinants proxies such as RGDP growth rate, Inflation Rate, Balance of Payment (% of Total Assets), capital adequacy ratio, liquidity ratio, and sensitivity to market risk against subsequent studies. [ABSTRACT FROM AUTHOR]

Research on the nexus between government expenditure and economic growth produces mixed results from different countries. The objective of this paper is to test if a causal relationship exists between government expenditure and economic growth in South Africa. the paper relied on testing the applicability of Wagner’s and Keynesian theories on public expenditure and economic growth with data from South Africa. Data on South Africa’s government expenditure and economic growth for 1961 – 2018 were used and the Granger causality Wald test was used to analyse the causality. Neither Wager’s nor Keynesian hypothesis was proven within the limit of the fifty-eight years’ data used. This is because the results show no significant causal relationship from either side of economic growth and public expenditure. Policy makers should pay attention on how to channel government expenditure and the gains from economic growth to improve citizens’ ability to increase their productive capital. Further researchers should expand the time series coverage to go beyond 1961 to check for new results; a regional panel data for Southern Africa is also recommended for further research. This paper produces a new test of Wagner’s and Keynesian hypothesis by merging data from the pre-democratic with the democratic period of South Africa and applied a combination of ADF, co-integration, VAR and Granger Causality analysis. [ABSTRACT FROM AUTHOR]

This paper measures the interdependent between economic growth and human development in South Africa. Therefore, the objective of this paper is to examine if interdependence exists between economic growth represented by GDP and the variables of human development (life expectancy, standard of living and education). This paper is inclined on the theory of economic welfare, which advocates the measuring of economic growth by including the wellbeing of all and not to concentrate on GDP alone which is somewhat asymmetry. Data on South Africa’s economic growth and human development index were collected from the World Bank archives of economic indicators and from the United Nations Development Programme. Data were analysed using the vector auto-regression (VAR) and the Granger causality Wald tests. Findings show that economic growth in South Africa is dependent on the achievement of human development variables namely health or life expectancy, standard of living or GNI and education. provides insight toward improving the constituents of human development to ensure a combination of economic growth and wellbeing; the paper provides a teaching case for the academia. Based on the causality results, this paper contributes by providing a model for further research. [ABSTRACT FROM AUTHOR]

The whole world has been devastated by Corona Virus outbreak. As a result, economies around the have been severely threatened. Since the independence of Bangladesh, this has been in a position to remember 2020 in terms of economic catastrophe. The economic sectors of Bangladesh, that we consider to be the most important, have been severely affected. The purposes of this paper are to unearth the economic impacts of Bangladesh because of Corona pandemic and post consequences of Covid-19. The study is also concluded with some recommendations that will help Bangladesh’s economy recover faster. [ABSTRACT FROM AUTHOR]

Foreign trade is considered a major component of sustainable economic growth. The links between it and the gross domestic product (GDP) have been analyzed in numerous specialized economic works. The developed econometric models have demonstrated the strong connection, both in the short and long term, between these macroeconomic components. This paper demonstrates once again the long-term and short-term links between these variables by using the VECM (vector error correction) econometric model on the annual GDP, Export and Import data with Romanian agricultural products from the period 1995-2020. [ABSTRACT FROM AUTHOR]

The aim of the paper "The Impact of COVID-19 Pandemic on the Romanian Foreign Trade Results in the Year 2021" is to analyse the Romanian economy in the year 2021 from the prospect of the impact of the COVID-19 pandemic in order to quantify the impact of the health crisis on the economic activity and the volume of foreign trade. We will analyse the evolution of the FOB exports and CIF importants, the evolution of the FOB/CIF results and compare the actual figures with the figures from the previous year without influecences from the Corona pandemic. After that, we will make some recommendation in order to reduce the negative influences for the Romanian economy and to improve the trade result of Romania. In addition, we will present the general trends of economic evolution in the pandemic context and the opportunities that economic actors should take advantage of. The results of this analysis should be of real interest to decision-makers, investors, managers, students, the media, and other users in general. [ABSTRACT FROM AUTHOR]

In this study, we examine the determinants of foreign exchange rate, in other words the macroeconomic variables which are affecting the foreign exchange rate and especially whether the foreign exchange rate are influenced by the central banks' gold reserves. The most important feature of the study is to determine the relationships between foreign exchange rate with the various macroeconomic variables such as GDP, M1, Import, Export, Gold Reserve, Total Reserves by panel data modeling, and also to handle the forecasts models for predicting the exchange rate in a summary and understandable way. By way of this thought, in this paper, the relationships between foreign exchange rate with the various macroeconomic variables have been investigated for G20 countries (Argentina, Australia, Brasil, Canada, Chine, Euro Area (19 countries), India, Indonesia, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA) for the period 2000-2017 with two regression models. Data set and methodology were mentioned in part III. According to the results obtained; we claim that the effects of percentage changes of macroeconomic parameters via both quarterly and yearly are statistically significant on the percentage change of USD exchange rate against national currency. In model-1 related with quarterly change; the results could be seen on table-4 and similarly in model-2 related with yearly change; the results could be seen on table-5. In brief; in this paper we see that the periodic changes both in the parameters of macroeconomic indicators and gold reserves within quantity and size directly effect the USD exchange rate against national currency strongly. [ABSTRACT FROM AUTHOR]

In this paper we propose to highlight correlation between the variables GDP and defence spending, using the linear regression model. It was observed, through the analysis of the literature, that one of the most important factors, influencing defense spending, is the GDP of the states. Thus, the objective of the study, is to try to get information about the ability of the economy (represented by GDP) to influence defense spending, in NATO member states. In the econometric model, the value of the dependency coefficient is expected to be very high and positive. The data from the Database were collected from the official sites. [ABSTRACT FROM AUTHOR]

This paper presents a forecast combination approach for short-term assessment of economic growth in Russia. Our method significantly expands the existing domestic academic literature and embraces most advanced nowcasting techniques. The key feature of our approach is forecasting the growth rates of components GDP by expenditure using scenario indicators and a huge set of high-frequency predictors. The total number of combined models is nearly 500. Comparing our approach with popular benchmark models over the period from January 2003 to December 2020, we conclude that our method has the highest accuracy of short-term GDP forecasting. The findings of this research may be useful for the development of monetary and communication policy in Russia. [ABSTRACT FROM AUTHOR]

COVID-19 has taken over the world as the largest viral outbreak in the past 100 years. With over 13 million confirmed cases and 0.5 million-plus people dead, it has affected the life around us. With Pakistan being amongst the top 15 countries affected by it, the government of Pakistan has started vaccination, issued SOPs on daily life and smart lockdown continues in the country, but a part of this activity developing countries are still facing even greater difficulties in handling this crisis. This paper was designed to evaluate the status of scientific literature available on Covid-19 pandemic and to relate this situation from Pakistan perspective. A detailed review of published literature was conducted from March 2020 to August 2020. Covid-19, pandemic, Pakistan, healthcare setup, psychological impact, educational activities and challenges SOPs were utilized as key vocabulary. Miscellaneous searching tools including, Science Direct, Embase, PubMed, Google Scholar and Covid-19 portal from Government of Pakistan were visited for relevant information. A total of 30 research commentaries, articles, opinions and editorial letters were selected based on the required information. This article discusses the effects of COVID-19 on society and focus on SOPs introduced and their effects on the physical and mental health of the general public. [ABSTRACT FROM AUTHOR]

This paper presents the inuence of the COVID-19 pandemic on gross domestic product (GDP) per capita for the 27 countries of the European Union. A panel model with fixed effects was applied to a dataset from 2010 to 2020. The analysis covered 13 independent variables, including nine related to the telecommunications market, and assessed their impact on GDP per capita. A variable related to the number of COVID-19 deaths per one thousand inhabitants was then added to the model. The results showed that COVID-19 is a significant factor and is negatively correlated with GDP per capita. The analysis described in the article has also shown that the importance of the ICT sector increased during the pandemic, i.e. the household broadband Internet variable became statistically significant. [ABSTRACT FROM AUTHOR]

The COVID-19 health and economic crisis has affected all areas of social life globally, including the economy. The world economy has declined due to purchasing power for individuals who have been forced to stay at home and cannot perform work. These restrictions to prevent the spread of SARS-Cov-2 have led to an increase in electronic commerce and mobile commerce as tools for procuring goods and services. In this paper, we conducted a longitudinal analysis of mobile commerce as an essential electronic commerce component, establishing the main drivers of mobile commerce and the intensity of their influences. The research focuses on mobile commerce in the United States (U.S.). It covers the period 2010-2020, the last year of this period capturing the context of the COVID-19 pandemic and its impact on electronic commerce (e-commerce) and mobile commerce (m-commerce). In the macroeconomic analysis of competitiveness, we established the main drivers of m-commerce, using artificial neural networks and the mediation effects found between the variables that describe m-commerce, e-commerce, and total sales, using structural equation modeling. The research results indicate an increase in the share of e-commerce in total sales and a predominance of the m-commerce share in e-commerce on the background of traffic restrictions and social distance rules imposed due to the COVID-19 pandemic. Stakeholders in the m-commerce area should consider the following enhancing drivers: increasing internet speed, expanding 5G and Wi-Fi networks, and increasing accessibility and trust in mobile devices and applications. [ABSTRACT FROM AUTHOR]

According to recent trends, there is a focus on the interest in the Western Balkan economies to attract foreign capital in the form of foreign direct investment (FDI) as a source of external financing and economic recovery factor. In this paper, an attempt is made to analyze the movement and impact of FDI on economic growth and foreign trade on the example of the Western Balkans (North Macedonia, Albania, Serbia, Bosnia and Herzegovina, and Montenegro). This analysis aims to examine the correlation and causal relationship between FDI, economic growth and the foreign trade case of each individual Western Balkan country. The inflow of foreign capital in the form of FDI in the Western Balkan countries has a positive impact on GDP growth, exports and imports. From the results, it can be concluded that the inflow of FDI into the Western Balkan countries has a positive effect on the economic growth and the increase of foreign trade. The analysis showed that FDI has a statistically significant and positive impact on GDP in the Western Balkan countries, and is a key precondition for intensifying foreign trade. This study provides a promising step towards developing a more comprehensive empirical research by a dynamic estimation procedure. [ABSTRACT FROM AUTHOR]

The aim of this paper is to analyze and better understand some of the main macroeconomic factors that affect unemployment in Albania. In Albania Unemployment is no longer at extreme levels of recent years, but it is still at a high level and a problem for the Albanian economy and society. We have used data for some of the main macroeconomic indicators obtained from the World Bank for the period 1991-2020, processed by EViews statistical program. The empirical results show that the link between unemployment and economic growth and link between inflation and unemployment is weakly positive, meanwhile trade has a negative impact on unemployment. [ABSTRACT FROM AUTHOR]

The agriculture sector plays a very important role in the generation of income, output and employment in any developing economy including India. In India, the share of agriculture GDP has depicted a declining trend over a long period of time particularly after the year 1991. During the post-economic reform period, the share of agriculture sector in the country's GDP declined from 28.5 per cent in 1991 to 17.8 per cent in 2020. Moreover, India's agriculture sector's annual average growth rate was only 3.17 per cent during the post-economic reform period. In the given scenario, this paper investigates the major factors determining the sector's performance based on Autoregressive Distributed Lag (ARDL) approach. The ARDL based Bound test revealed the existence of a long-run relationship among selected variables in the model. Moreover, the error correction term's coefficient indicates that the short-run shocks could be adjusted towards their long-run equilibrium at a faster rate: 83 per cent per annum. The estimated results of the study demonstrated that certified seeds, fertilizer consumption, net irrigated area, and pesticide use have significantly and positively affected the Agricultural GDP in the long run. However, in the short run only two variables viz. certified seeds and pesticide have significantly affected the agricultural GDP. Statistical diagnosis represents stability in the model, and there is no serial correlation as well. [ABSTRACT FROM AUTHOR]

Gulf Cooperation Council (GCC) members are considered one of the fastest growing economies. This paper aims to empirically forecast the economic activity of the biggest GCC countries: Qatar, Saudi Arabia, and the United Arab Emirates. An Auto- Regressive Integrated Moving Average (ARIMA) model of the Gross Domestic Product in the three countries is obtained using the Box-Jenkins methodology during the 1980-2020 period. The appropriate models for the three economies are of ARIMA (0,2,1), the forecasts are at a 95% confidence level and predicts a growth in the three understudy countries for the upcoming five years. [ABSTRACT FROM AUTHOR]

• The positive relationship between GDP and REITs returns and they have only a unidirectional Granger causality relationship. • The negative relationship between the stock price index and REITs returns and they have only a unidirectional Granger causality relationship. • The positive relationship between the effective interest rate and unemployment rate with REITs returns. This paper employs the Bootstrap Fourier Granger Causality in Quantiles test to reevaluate the relationship between Real Estate Investment Trusts(REITs) returns and macroeconomic variables in the United States. Our empirical findings demonstrate a significant positive relationship between GDP and REITs returns across all quantiles, except for the lowest 0.1 quantile. Additionally, we observe a significantly negative relationship between the stock price index and REITs returns across all quantiles. Moreover, the study reveals that the unemployment rate and effective interest rate exhibit an effective increase in REITs returns. [ABSTRACT FROM AUTHOR]

The disadvantaged status of economic development for most countries in Africa, coupled with the challenges faced by these countries in areas of basic human needs, continues to be a hurdle to the successful research and development initiatives on the continent as priority continues to place funding-emphasis on addressing basic human needs. The comparatively low level of research participation by higher education institutions, particularly university level, coupled with the absence of a globally significant involvement of Africa's-industrial sector in research, are factors that will need to be addressed if Africa's contribution to global research output is to realize significant growth. This is particularly important as industry and universities continue to be the main drivers of growth in the area of innovative research development and research application. In light of these challenges, the assertion that research has value for Africa and hence the need for Africa to continue improving its global profile in research, this paper presents a discusses different approaches to IP development, acquisition and protection and how each of the approaches can be utilized towards growing the level of Africa's participation and contribution to research and development output. While drawing attention to research collaboration approaches and to the envisaged benefits of such collaborations, the paper identifies higher education systems, industry, and governments are key drivers of research and development, and hence the need for Africa to leverage on, as well as focus on development to a level where these drivers become more pronounced as instrumental to driving achievements in innovative and impactful research and development for Africa. [ABSTRACT FROM AUTHOR]

The paper demonstrates trends in Kazakhstan knowledge management system (KMS) development with regard to the relevant internal and external factors. The effect of the investment, codified and uncodified knowledge capital exerted on the gross domestic product (GDP) of Kazakhstan has been studied. Knowledge formalisation through the above model criteria enabled to determine the correlation between the KMS efficiency and the GDP of Kazakhstan. The Kazakh sector of knowledge generation fails to function at the level of the post-industrial countries and generate a high quality knowledge-intensive product massively. Low efficiency of knowledge generation system does not allow creating the appropriate technologies of the world level in this country to modernise production and turn out high-quality innovative products. The low capacity of the macroeconomic system in the perception and use of already existing knowledge restricts exploiting global knowledge market opportunities. The paper outlines the proposals for improving KMS in Kazakhstan. [ABSTRACT FROM AUTHOR]

Copyright of Economics / Ekonomija is the property of Rifin d.o.o. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Trading transactions between nations have a very long history, but in recent years international trade has become increasingly important with a larger share of GDP devoted to exports and imports and it is considered to be a major component of sustainable economic growth. The correlation between external trade flows and gross domestic product (GDP) have been analyzed in many specialized economic papers. The developed econometric models have demonstrated the strong connection between these macroeconomic indicators. This paper once again demonstrates the long-term and short-term relationship between these variables using the VEC econometric model on quarterly GDP, Export, Import and GFCF data of Romania from 1995 to 2015. The VECM analysis was performed using R statistical software and is based on data extracted from the Eurostat, European Union Statistical Office website and are expressed in millions of euro. [ABSTRACT FROM AUTHOR]

The aim of this paper is to, based on relevant theoretical findings, analyze the impact of foreign direct investment (FDI) on economic growth and development, as well as export growth of the Republic of Serbia. The paper first presents FDI flows on a global scale. It then analyzes the ratio of real GDP growth rate to net FDI, as well as the sectoral structure of FDI. The next part of the paper points to the necessity of assessing real long-term effects of FDI on the economy of the Republic of Serbia. The final part of the paper points to the importance of FDI to increase export, as a driver and holder of economic growth and development of the Republic of Serbia. [ABSTRACT FROM AUTHOR]

Copyright of Revista Facultad de Ciencias Economicas: Investigacion y Reflexion is the property of Revista Facultad de Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper investigates effects of the real exchange rate and its volatility on trade balance and real GDP using a set of eighteen countries, mainly the OECD developed countries. The paper reports econometric procedures and empirical estimates for major currency-owned large economies and non-major currency- owned countries. One task, for which the elasticities of international trade and real GDP are needed, is developing exchange rate assessments. The study finds that real currency depreciation leads to improvement of trade balance in most of the examined developed countries. But the trade balances after real depreciation of currency do not follow J-curve patterns. With regard to the real exchange rate variability, the evidence is mixed. Similarly, effects of the real currency devaluation on real GDP differ across countries. Also, we observe that major currencyowned countries could have different value-and-volume-effects with non-major currency countries. [ABSTRACT FROM AUTHOR]

This paper tries to examine the link between public spending on elementary education and learning outcomes in India. Learning outcomes basically describes the measurable skills, abilities, knowledge or values that students should be able to demonstrate as a result of completing different levels of education. The study is based on secondary data. Data on expenditure on education have been taken from the Ministry of Human Resources Development (MHRD) and various budget documents. Data on the learning outcomes have been collected from various reports of the Annual Status of Education Report (ASER). The data is limited only to the learning outcomes of rural India. The period of time considered for the study is 2010-2018. The findings of the study reveal that increase in public spending does not mean increase in the learning outcome. The study also shows that the spending on schooling is gradually rising.Although there is a substantial increase in the enrollment ratio, the pupil teacher ratio and the school infrastructure, there has been little improvement in learning outcomes, especially in government schools. The study also shows that the government should focus on expenditures on teachers training which will greatly contribute to learning outcomes. [ABSTRACT FROM AUTHOR]

The aim of the paper “The Impact of COVID-19 Pandemic on the Romanian Economy in the Year 2020” is to analyse the most important macroeconomic indicators of the Romanian economy in the year 2020 from the prospect of the impact of the COVID-19 pandemic in order to quantify the impact of the health crisis on the economic activity and the volume of foreign trade. We will analyse the evolution of the GDP, the unemployment rate, the gross public dept (5 of GDP) and the current account balance (% of GDP) in Romania, the evolution of the trade result and the inflation in Romania and compare the actual figures with the figures from the previous year without influecences from the Corona pandemic. After that, we will make some recommendation in order to reduce the negative influences for the Romanian economy and to improve the evolution of the Romanian GDP, to reduce the unemployment rate and the inflation in our country, to improve the trade result of Romania. In addition, we will present the general trends of economic evolution in the pandemic context and the opportunities that economic actors should take advantage of. The results of this analysis should be of real interest to decision-makers, investors, managers, students, the media, and other users in general. [ABSTRACT FROM AUTHOR]

• We reviewed 179 articles on decoupling published between 1990–2019. • The papers present evidence of absolute impact decoupling, mainly between CO2 and GDP. • No evidence of economy-wide, national/international absolute resource decoupling. • No evidence of the kind of decoupling needed for ecological sustainability. • In the absence of robust evidence, the goal of decoupling rests partly on faith. The idea of decoupling "environmental bads" from "economic goods" has been proposed as a path towards sustainability by organizations such as the OECD and UN. Scientific consensus reports on environmental impacts (e.g., greenhouse gas emissions) and resource use give an indication of the kind of decoupling needed for ecological sustainability: global, absolute, fast-enough and long-enough. This goal gives grounds for a categorisation of the different kinds of decoupling, with regard to their relevance. We conducted a survey of recent (1990–2019) research on decoupling on Web of Science and reviewed the results in the research according to the categorisation. The reviewed 179 articles contain evidence of absolute impact decoupling, especially between CO2 (and SOX) emissions and evidence on geographically limited (national level) cases of absolute decoupling of land and blue water use from GDP, but not of economy-wide resource decoupling, neither on national nor international scales. Evidence of the needed absolute global fast-enough decoupling is missing. [ABSTRACT FROM AUTHOR]

Health, education, and training are the main components of human capital in any country. Hence, nowadays a country's economic growth is explained in terms of its human capital. Accordingly, lots of economic research is done in this field to test the relationship between its components and the gross domestic product as a measurement of economic growth. This paper sheds the light on the relationship between public expenditure on health sector and the gross domestic product in Turkey from 1978 to 2014. This paper tests the relationship in the short run using Vector Auto Regression (VAR) Model. The results in the short run ascertain that there is a small effect of government's health expenditure on GDP in the case of Turkey. [ABSTRACT FROM AUTHOR]

The paper deals with the analysis of long-term development of GDP, while it is per 1 capita in Slovakia and neighboring countries. This development will be further compared with the economies of developed countries. This paper also parse the vehicle fleet of road transport and examines the burden on the road network. This is based on statistical data from the Slovak Road Administration and information from the toll system since 2009. The paper also examine the load of roads in the factory Kia Motors Slovakia by road freight transport. The output of paper are recommendations for the development of transport infrastructure, road and rail transport in terms of sustainable development. [ABSTRACT FROM AUTHOR]

This paper evaluates the alignment of Indian Corporate Sector towards Sustainable Development Goals and its role in contributing to the development needs of the Country, e.g., education, poverty alleviation health care sanitation, and environment. Many conceptual studies reported that the Process, Products and Corporate Social Responsibility (CSR) programmes, adopted by Corporate Sector may not contribute to national development goals that reduce human misery in view of ideological differences, stakeholder bias, etc. This study suggests that Business created by corporate sector could contribute to social and economic development. While creating prosperity, it can have adverse impacts on people and planet. But, various recent mitigating initiatives, changes in policy framework, guidelines and legislation can help to create collaboration and partnership among States, Corporates, Civil Societies, and Non Profits; this in turn can pay dividends to the area of societal development and environment in India. This study further provides evidences of contribution of corporate, especially Central Public Sector Enterprise in India through CSR activities when these are aligned with economic and social goals. The Government of India has been taking various proactive actions in disciplining Corporates to integrate social and environmental concerns in their business practices. What started in late 2000 A D. by way of Voluntary Guideline on CSR by Ministry of Corporate Affairs (2009, 2011), followed by a Guidelines on CSR and Sustainable Development by Department of Public Enterprise, Ministry of Heavy Engineering and Pubic Enterprise (.2010, 2013, 2014) culminating in amendment of Companies Act 2013, making 2% contribution of net profit towards CSR mandatory for stipulated categories of business enterprises, both in private and public domain. This paper also presents a detailed analysis of the concept and evolution of CSR and provided a critical evaluation of contribution made towards social development by Indian Public Sector Undertaking. [ABSTRACT FROM AUTHOR]

Within this paper, we have approached the theme of enclaves from economic and social perspective. Seen as a process due not only to immigrants who tend to settle down in larger urban centers, with large and heterogeneous population, but also due to the migration from the countryside to urban areas, economic enclaves have long-term effects. In this context, we have have highlighted the main causes which have an influence on the regional enclave phenomenon as well as the multiple effects such a complex phenomenon may have on national economy and obviously on a country's population. We have completed the work by presenting the GDP as the main indicator of the intensity of the enclave process and the discrepancies recorded by developing regions as a result of regional gaps. The paper tackles several aspects of the enclave process since a clear delimitation of economic enclaves cannot be made without dealing with its social aspects, as well; therefore, we have made a classification of enclaves, the broadest one including the regions where enclaves can be found. It is obvious that the reduction of the negative effects of this phenomenon is the responsibility of the State and its institutions whose mission is to implement plans and strategies in the field of regionalization; therefore, we concluded the paper with the presentation of the portfolio of targets needed to be achieved for a balanced regional development. [ABSTRACT FROM AUTHOR]

Tourism has been developed into the fourth industry in sense of contribution to GDP worldwide. This paper analyses the role of tourism industry to gross domestic product (GDP) of some European countries like as Germany, Italy, France, Spain and Romania, but also countries like USA, China, Japan, Great Britain, Mexico. The objective of this research was to determine the top five tourism markets in 2019 according to annual report of the World Travel and Tourism Council (WTTC, 2020). Romania's tourism industry had a direct role of 3.16 billion USD to the Gross Domestic Product (GDP) in 2018, a little more higher than in 2017, placing Romania on the 64th place in the world. The analysis the World Tourism and Travel Council (WTTC, 2020) estimates an economic impact of the COVID-19 epidemic on tourism and travel 5 times greater than that of the global financial crisis. [ABSTRACT FROM AUTHOR]

The innovation and new information technologies have become crucial determinants to encourage competitiveness in all sectors of economy. This paper investigates the relationship between economic growth and digital skills. The analysis of the economic growth will be carried out with the help of the most representative indicator of results, respectively the gross domestic product (GDP). The starting point of the study is the analysis of the level recorded by GDP/capita and the level of digital skills for each EU member state, continuing with the perspective of the evolution of the link between the two indicators and the grouping of countries according to it. The results show similarities and dissimilarities between the EU countries and help us understand the progress of the EU28 countries towards a digital society and economy. Also, the study can be a necessary tool for decision makers, focusing on the important aspects whose evolution depends on the development of the Digital Single Market for Europe. [ABSTRACT FROM AUTHOR]

In the connection with the regions development, the road infrastructure is considered as a factor which affects the economic and social development characteristics of the regions. It is possible to reduce regional disparities gradually by enhancing and improving quality of the road infrastructure and this way to contribute to entrepreneurial environment improvement. In the paper, we are dealing with the road infrastructure and its effect on the selected indicators of the entrepreneurial environment such as: GDP and the number of economic subjects (enterprises) in the Czech Republic. For the need of analysis, we use data on all three researched factors from the time series 2010-2014. The aim of this paper is to analyse the development of the road infrastructure, GDP and economic subjects of the regions in the Czech Republic and to quantify the dependency power between the road infrastructure, GDP and the economic subjects. For the purpose of the research, we have chosen administrative approach to structure regions according to NUTS III classification. The strong correlation between the road infrastructure and GDP has not been confirmed in all observed regions as well as the effect of the road infrastructure and the number of economic subjects. We used methods of time series analysis, variation coefficient, correlation coefficient, comparison and synthesis. [ABSTRACT FROM AUTHOR]

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This study examines the relationship between foreign aid and economic growth in Sudan using autoregressive distrusted lag (ARDL) bounds tests. Relying on time series data spanned over the period 1980 to 2015, the findings reveal that there is a long run relationship between variables under consideration. Specifically, the findings show that foreign aid in the form of official development assistance (ODA) has a positive and significant long run impact on economic growth in Sudan. However, the interaction between aid and corruption in public institutions imposes a negative and significant long run impact on economic growth. Interestingly, the findings indicate that aid deters economic growth in the short run. This outcome may stand as indication that aid spurs economic growth via its contributions to human capital and improving infrastructural facilities both of which become rewarding in the long run. The paper concludes with the importance of utilizing aid in enhancing human capital capacities in order to boost economic growth. [ABSTRACT FROM AUTHOR]

The paper deals with analysis and evaluation of impact of information and communication technologies (ICT) on economic growth at the different hierarchical levels. Based on global tendencies of ICT development and their use as a factor of competitive advantages, it is proved that sustainable socioeconomic growth has acquired features of permanent digital development. For developing countries steep ICT development can enforce new impulse of economic progress, which in turn, is proved by correlation analysis and modeling of ICT factors influence on the main financial results. Considering current ICT development trends in business (based on case study of Ukraine ICT use statistics as one of the developing countries) and their relations with financial results, the main policy making actions aiming at further economic development can be defined. They should be aimed mainly at Internet access outspread and webtechnologies effective use, particularly in the field of e-commerce. [ABSTRACT FROM AUTHOR]

THE MAIN AIM OF THIS RESEARCH PAPER IS TO PROVIDE AN APPLIED FRAMEWORK ON THE EFFECTS OF POVERTY ON EMERGING COUNTRIES DEVELOPEMENT IN THE CONTEXT OF GLOBALIZATION AND RAPID ECONOMIC GROWTH. THE ECONOMIC GROWTH CONTRIBUTES TO POVERTY REDUCTION IN EMERGING COUNTRIES BUT IS NOT A SUFFICIENT TOOL, ESPECIALLY IN THE CONTEXT OF GLOBAL INTEGRATION. THE RELATION BETWEEN ECONOMIC GROWTH AND POVERTY INFLUENCES THE LEVEL OF SUSTAINABLE DEVELOPMENT AND SOCIAL INEQUALITY. GLOBALIZATION PROVIDES OPPORTUNITIES FOR EMERGING COUNTRIES, BUT ALSO MAJOR CHALLENGES. THE GLOBALIZATION OF THE WORLD ECONOMY INHERENTLY LEADS TO AN EFFECTIVE ANTI-POVERTY PROCESS IN EMERGING COUNTRIES. [ABSTRACT FROM AUTHOR]

India has been transforming on various indicators and dimensions which have been evidenced across the diversifi ed segments. It has traversed diff erent milestones through socialist economy, mixed economy and the modern form of capital induced mixed economic orientation. However, the agriculture & allied activities have been pioneering in economic development as around 60% of the population depends on this sector. In last four decades, the Indian economy has been witnessing a signifi cant paradigm shift in terms of patt ern of contribution i.e. the services sector has been the largest contributor (55%) to the GDP followed by manufacturing (29%) and agriculture & allied sectors (16%). The primary sector is largely dominated by plant-based agriculture. In the hilly terrain, the propensity of farming system is limited in terms of volume and variety except the tall woody plants or canes. These regions are still away from the main stream infrastructure, industrialization and so on. In fact, the hill economy solely rests within the limiting farming practices and relevant agro-based industry. Tea has been emerged as one of the important plantation crops in the hilly region. This paper has highlighted the status of tea production and exports by diff erent countries in the world with reference to India. The study also provides the glimpse of tea production in Indian states with special reference to North East region and explores the emerging challenges in tea economy which needs to be addressed by appropriate strategies. [ABSTRACT FROM AUTHOR]