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Prezentul studiu ia în discuţie probleme ce ţin de evoluţia politicii culturale a Republicii Moldova în contextul relaţiilor internaţionale, cooperarea țării noastre cu țările UE în domeniul culturii, participarea la programe culturale europene, semnalarea noilor tendinţe şi perspective în activitatea instituţiilor culturale din țară.

Eastern Europe is engaged in a massive program of financial reform. This paper argues that while this program has many desirable features, it has failed to address some of the most basic issues. These concern the relationship between the financial system and the enterprise sector, and the association of privatization with financial sector reform. The paper suggests that there is a choice between finanical systems that has not as yet been adequately considered and that it is far from evident that Eastern Europe is at present proceeding with the right model.

Islamic financial institutions provide financial services that abide by the principles and goals of Islamic law (Shari’ah). To ensure the compliance of the operations and products with Islamic law, a Shari’ah governance mechanism must be established. To understand the scope of Shari’ah governance the stakeholders of the Islamic banking industry and Shari’ah requirements need to be identified. The type of Shari’ah governance framework for Islamic finance will depend on the legal and regulatory environment in different jurisdictions. At organizational level, the overall corporate governance framework in Islamic banks will define the role of Shari’ah governance. After identifying four Shari’ah governance regimes existing in different countries, the paper suggests an optimal Shari’ah governance framework that can reduce the Shari’ah complaint risks and ensure long-term growth of the industry. - Le istituzioni finanziarie islamiche forniscono servizi nel rispetto dei principi e degli obiettivi della legge islamica (la Shari’ah). Al fine di assicurare che le operazioni e i prodotti finanziari si conformino alla legge islamica devono essere adottati adeguati sistemi di governance. Per capire le modalità di tale governance è necessario identificare gli stakeholder del sistema bancario islamico e i requisiti necessari secondo la Shari’ah. Il tipo di struttura della governance dipenderà a livello legale e regolatorio da diverse giurisdizioni. Dopo aver individuato quattro regimi di governance che rispettano la Shari’ah applicati in diversi paesi, questo studio delinea una governance ideale in grado di ridurre i rischi e assicurare la crescita del settore nel lungo periodo.

What would happen if every individual knew what to do, and did, without prompting or expecting a reward? Is that not what the authors of Republic and Utopia had in mind? Is that not the primary justification of theocracies? The immediate objection to that postulate is that human nature is not suitable for team activities at all times. There is such a conception as individualism and that is the quality abetting creativity that marks humanism. Besides, the definition of human rights guarantees freedom of choice not to cooperate if one chooses against it.

This paper presents a brief story about the initial development of the capitalism in Chile emphasizing on the structural conditions that would have given as a result new social and political actors (industrial bourgeoisie and proletariat). This process should have been the basis if a deep reconfiguration of the economy, social relationship, politics and culture in Chile during the beginning or the XX century. Following in that direction we express the necessity of the elaboration of an interpretative and methodological model about the study of the material remains of capitalist societies. We propose a reinterpretation of the industrial material culture from a perspective that takes in account the relationship (not only in one way) among production mode, social relationships and the ways of perception and construction of the space, where the relationship between work-capital and nature-capital would be the basis of this statement. From this point of view the constitution of industrial landscape and its connection with working enforcement and the development of the first way of class struggle in the modern world should be understood from a new theoretical frame according to the social practices and the experience of each historical individual.

This paper evaluates the Bulgarian positioning in the European knowledge-based economy. The analysis is mainly based on the Knowledge Assessment Methodology of the World Bank (2005). After an analytical framework, the analysis reveals an alarming situation for Bulgaria resulting from several negative factors, which reinforce one another in a cumulative process. Finally, the conclusion underlines that a necessary condition for the Bulgarian economy to become knowledge-based, is to set up good rules of governance but also to be able to mobilize human capital and to coordinate the interactions within citizens and organizations.

Re-definitions happened in world capitalism imply a certain impact in organizational models defining the variety of social practices in informational society. Firstly, gnoseological approach reaches to the new accumulation model in a rationality framework, which focuses to the application of knowledge to knowledge itself (Drucker), starting from techno-economic change and its derivations in the field of IT an CT. Those, being a belt for a new world subjectivity. The rise of an ethical profile is highlighted, which implications (i.e., productivity, competitiveness and excellence) occupies a privileged place in a directional sense assumed by social wisdom in this context. Also structure-cojuncture adjustments happened are referred to, in entrepreneurial world, as well as labor and hole daily life fields. Secondly, a hypothetical framework is proposed in the sense that the (not so) new key factor for world economy (microelectronics) involves a trans-figurative subjectivity framework re-defining human dimension key scenarios. From a critical-interpretative approach, it is possible to understand that organizational model not only face the challenge of a growing competitiveness, but its gnoseological scaffolding --seen as a tension between forces-- involves a substantive re-definition of rationality in the seine of organizations, that directs its responsibility and social compromise in post-modern days.

La restructuration sectorielle de l’activite economique (tertiarisation) induite par l’ouverture au marche engendre une reorganisation de la structure urbaine de Varsovie dont l’analyse permet d’etendre aux Pays d’Europe Centrale et Orientale le debat sur l’universalite des formes de suburbanisation. La recomposition spatiale a Varsovie, evaluee a partir de differents indicateurs (densite d’emploi, densite de population, coefficient de concentration, definition de « zone d’emploi »), se traduit entre 1994 et 1999 par une suburbanisation de la population et de l’emploi. Cependant les quartiers centraux restent de loin les plus importants en termes de population et d’emploi. La ville garde donc un fort caractere monocentrique en 1999. Toutefois, la suburbanisation des commerces et des services a la population ainsi que la formation d’un CBD specialise montrent une evolution vers un modele urbain multicentrique. La rapidite des mouvements observes fait penser a un processus de rattrapage. Ainsi, les changements de la geographie de l’emploi suggerent que Varsovie presente actuellement un developpement original. Dans le cadre d’une structure ou, pour des raisons historiques specifiques, le centre est encore fortement dominant, on voit apparaitre rapidement les premisses de quelques-uns des caracteres universels de la suburbanisation.

The analysis of economic efficiency is the main method of economic systems analysis. This concept is the most important qualitative indicator of the economic development, essential factor in accelerating the economic growth and is also one of the criteria for scientific substantiation of decisions. Applied in the milk production domain, represents the obtaining of maximum quantity of milk per animal, with minimal expenditure of manpower and materials. Regarding determining the economic efficiency of goat milk production, the most used indicators are: total physical production, average production, value of total production (total revenue), production costs, material costs, cost per unit, profit, rate of return, breakeven point etc. The paper presents the calculation method of indicators and their average values for 2014.

This research note relies on Gjølberg’s (2009) national corporate social responsibility (CSR) index while its purpose is twofold. First, it seeks to extend the methodological instrument for assessing national CSR and, second, it applies the new approach to a much larger pool of countries (n=86) in an attempt to provide a global CSR outlook. The emergent picture from the study is one of deficient CSR penetration and wide variation among countries where most of the assessed countries are still lagging in the endorsement of international CSR initiatives and schemes. Findings offer fertile ground to theorists and researchers for a deeper investigation of the national specificity of CSR and to further identify the institutional determinants that shape the social responsiveness and self-regulation of business entities.

Rising GDP level is aim of each economy in the world and in that respect Nepal doesn’t differ. Difficulties in obtaining better impulse in the growth creation shows signs of short and long term weaknesses in economic or political process. Some help in achieving better standards are presented by three projects as well as offering some new insight into possible model change. Building a new model or growing from existing one is not a matter of copy/ paste data from country to country, but necessity and recognition that numerous possibilities to improve exist by cooperation with region ,world but at the same time being aware of its own standards, limitations and strengths. This process is area of constant development, error recognition and correction what is also to be recognized and to further develop in a process of finding economic and social path to go.

This paper navigates through the civil liability legal theory in studying its economic effects. It aims at giving an insight of the Islamic system of liability. To do so, it begins with a brief introduction of what a liability system is through a glance at the experience of the United States in this regard. The American system of liability gives the courts a wide range of authority to assess the injury, which includes material, emotional, and loss of future income opportunity, and compensation that aims at not only granting the injured a recuperating sum, but also at deterring the injurer from such a behavior. The most serious economic outcome of the A system are: the grandiose uncertainty and unpredictability, and the huge amount of grants that represents high cost, and sometimes prohibitive, of liability. This led to long and cumbersome litigation, consumer profiteering, forsake of innovative ideas, and shortage of certain products and services. The Islamic system of liability centers on the materiality of the injury, both in its causality and in its outcome, and it provides a list of compensations. Accordingly, recognizable emotional harm is only the one that can actually be materially checked, and recognizable loss of income covers only that actually forgone income during the off work period caused by the injury. As life and parts of the human body are sacred and priceless, the I system leaves it only to revelation to define the amount of compensation for loss of life and bodily parts. The main economic outcome of the I system is its predictability and conservative amounts of compensation. The system also assigns a role for the society both in payment of the grant and in benefiting from the compensation.

The common perception is that high or growing litigation rates in a country are a sign of societal pathology Studies of litigation rates, however, consistently report that lawsuit filings per capita increase with economic prosperity, thus suggesting that litigation rates are a natural consequence of prosperity and not necessarily evidence of an overly litigious populace. India’s substantial interstate variation in litigation rates and in economic and noneconomic measures of well-being provide an opportunity to evaluate the relation between well-being and litigation rates. Using many years of data on civil filings in India’s lower Courts and high Courts, we present evidence that more prosperous states have higher civil litigation rates. We also report the first evidence that accounting for noneconomic well-being, as measured by the education and life expectancy components of the Human Development Index, explains litigation rate patterns better than explanations using a more purely economic measure of well-being, GDP per capita. Despite India’s continuing economic growth, we present data that indicates India’s enormous and growing civil case backlog has discouraged civil case filings in recent years. These findings raise the question whether India’s future economic growth will be compromised if courts at all levels, particularly lower courts, are not able to more quickly resolve disputes.

This paper analyzes naming behavior in Germany in the context of rapid social change. It begins with an overview of general developments in naming in Germany over the last one hundred years, based on data from the German Socio-Economic Panel Study (SOEP), which supplies us with almost 45,000 datasets. The paper focuses on the periods of World War II and the Cold War since we conclude that general developments in naming were disrupted by these two phenomena. Wartime brings accelerated social change in its wake and people react to this social change - often on an apparently individual level. Here, our findings are in accordance with established sociological theories. Publisher's website: http://maneypublishing.com/index.php/journals/nam/

This paper diagnoses the present Russian situation characterized as the “Russian Disease.” First, it shows that a key symptom of the Russian Disease is a strong positive relation between the country’s real growth and terms-of-trade-effects, which is different from the symptoms of the “Dutch Disease”. This paper also presents three variants (oil prices, terms-of-trade, and trading gains) of the concept of terms-of-trade effects using the SNA framework. Second, it shows a strong positive impact of terms-of-trade effects on the Russian manufacturing, which markedly differs from one of the major symptoms of the Dutch Disease (slower growth of manufacturing through the booming mining sector and real appreciation of exchange rates). This paper also suggests the significance of the manufacturing industry for the Russian economy. Third, this paper shows that the appreciation (depreciation) of real exchange rates of Russia’s rubles induced the boost (decline) of its imports. Fourth, this paper proves that the boost of imports, in turn, induced the GDP growth of the trade sector as one of the major sources of the Russian overall growth. We also present the impact of oil prices on two kinds of real exchange rates (CPI-based and GDP-based real exchange rates).

This paper empirically analysis the price jump behavior of heavily traded US stocks during the recent financial crisis. Namely, I test the hypothesis that the recent financial turmoil caused no change in the price jump behavior. To accomplish this, I employ data on realized trades for 16 stocks and one ETF from the NYSE database. These data are at a 1-minute frequency and span the period from January 2008 to the end of July 2009, where the recent financial crisis is generally understood to start with the plunge of Lehman Brothers shares on September 9, 2008. I employ five model-independent and three model-dependent price jump indicators to robustly assess the price jump behavior. The results confirm an increase in overall volatility during the recent financial crisis; however, the results cannot reject the hypothesis that there was no change in price jump behavior in the data during the financial crisis. This implies that the uncertainty during the crisis was scaled up but the structure of the uncertainty seems to be the same.

I empirically study price jumps using high frequency data comprising 5-, 10-, 15- and 30-minute market data on the main indices from the Prague, Warsaw, Budapest and Frankfurt Stock Exchanges for June 2003 to the end of 2008. I use two definitions of price jumps: the price jump index and normalized returns. First, I analyze the distribution of returns to support the presence of jumps. Second, I find that the distributions of the price jump indicators employed are significantly different for positive moves compared with negative moves in all the markets studied. In addition, the comparison of jump distributions across different frequencies and markets suggests a possible relationship with market micro-structure as well as with the composition of investors. In particular, at the Prague Stock Exchange, the lower the frequency, the lower the number of extreme jumps, but this is not so at the other markets. Last but not least, I show that the recent financial crisis caused an overall increase in volatility. However, this was not translated into an increase in the absolute number of jumps.

The traditional concept of Riba (interest) is an excess amount on loan, which creditor receives from debtor on the repayment of loan. There is almost a consensus on the sprit of this concept that it is traditional thought or school; but along with that some other point of views also exist, which present Riba, in somewhat different ways, will be termed as non-traditional approach in this paper. Both of these schools are agreed on the point that, Riba is just restricted to debt, and the increment on it is Riba; but the main difference among these is that: former approach claims that, each and every addition on loan, regardless of purpose and time duration of loan is Riba; but, the later approach demand’s some room for that on different grounds. Actually both of them do not have any sound base. When the concept of unearned income (the income, which is not the result of human labor), is a recognized fact in Islamic economics in different forms, like: ijara (rent), Mudoraba and Mazara’a (Share Cropping); then definitely no logical reason is left to avoid excess income on loan. Both approaches are just unable to give a concrete concept of Riba.

We conduct an econometric analysis of socioeconomic, institutional and political factors determining government respect for human rights within India. Using time series cross-sectional data for 28 Indian states for the period 1993 – 2002, we find that internal threat poised by number of social violence events, presence of civil war and riot hit disturbed areas are strongly associated with human rights abuses. Amongst socioeconomic factors, ‘exclusive’ economic growth, ‘uneven’ development, poor social development spending, youth bulges and differential growth rates between minority religious groups explain the likelihood of human rights violations. Capturing power at the state and central level by Hindu national parties’ viz., Bharatiya Janata Party (BJP) and Shiv Sena, further help understand the incidence of human rights violations within India.

We estimate the impact of macroeconomic news on composite stock returns in three emerging European Union financial markets (the Budapest BUX, Prague PX-50, and Warsaw WIG-20), using intraday data and macroeconomic announcements. Our contribution is twofold. We employ a larger set of macroeconomic data releases than used in previous studies and also use intraday data, an excess impact approach, and foreign news to provide more reliable inferences. Composite stock returns are computed based on five-minute intervals (ticks) and macroeconomic news are measured based on the deviations of the actual announcement values from their expectations. Overall, we find that all three new EU stock markets are subject to significant spillovers directly via the composite index returns from the EU, the U.S. and neighboring markets; Budapest exhibits the strongest spillover effect, followed by Warsaw and Prague. The Czech and Hungarian markets are also subject to spillovers indirectly through the transmission of macroeconomic news. The impact of EU-wide announcements is evidenced more in the case of Hungary, while the Czech market is more impacted by U.S. news. The Polish market is marginally affected by EU news. In addition, after decomposing pooled announcements, we show that the impact of multiple announcements is stronger than that of single news. Our results suggest that the impact of foreign macroeconomic announcements goes beyond the impact of the foreign stock markets on Central and Eastern European indices. We also discuss the implications of the findings for financial stability in the three emerging European markets.

Dans cet article, nous tentons d’évaluer les lignes de force de l’évolution des systèmes d’enseignement supérieur européens, à partir d’une analyse comparative des évolutions de deux systèmes nationaux topiques, le modèle anglais (à l’origine décentralisé) et le modèle français (à l’origine très centralisé), depuis le début des années 80. Nous mettons en avant les stratégies mises en place par l’Etat central dans chaque cas, pour faire avancer les réformes. Le modèle anglais est caractérisé par une reprise en main forte par le centre du pilotage global du système. Même si les financements publics sont attribués de façon sélective et concurrentielle, cette forme de quasi marché renforce plutôt que déforce le pouvoir de l’Etat sur le système. En France, la centralisation du système a rendu plus difficile l’implémentation de réformes analogues à celles menées en Angleterre ; des formes de décentralisation constituent dès lors des conditions nécessaires à la mise en concurrence des universités, selon les conditions choisies par le centre. On assiste ainsi aussi à une forme de convergence des modèles. Nous montrons pour finir cependant que le modèle anglais de pilotage par le haut, via la mise en compétition des acteurs académiques, a ses limites et que tendanciellement, c’est à une vraie libéralisation et même privatisation que l’on risque d’assister. On pourrait ainsi interpréter les réformes anglaises comme des préparatifs (conscients ou non) d’une mise dans le marché (global) d’un système universitaire où la concurrence et l’évaluation par l’Etat ont conduit à une grande concentration – de la recherche – et à l’émergence de global players potentiels. Le fait que l’UE semble pour l’instant suivre la voie ouverte par l’Angleterre dans les années 80 nous laisse penser qu’au-delà d’un certain point, les mêmes limites seront atteintes, et qu’une mise dans le marché des institutions académiques s’avérera inévitable pour assurer le maintien de la compétitivité du monde académique européen, qui aura in fine convergé vers un modèle américain, après un détour préparatoire de concurrence organisée par la puissance publique, pour faire naître des pôles à stature globale.

This paper explores the link between compulsory voting and income distribution using a cross-section of countries around the world. Our empirical cross-country analysis for 91 countries during the period 1960-2000 shows that compulsory voting, when enforced strictly, improves income distribution, as measured by the Gini coefficient and the bottom income quintiles of the population. Our findings are robust to changes and additions to our benchmark specification. Since poorer countries suffer from relatively greater income inequality, it might make sense to promote such voting schemes in developing regions such as Latin America. This proposal assumes that bureaucratic costs related with design and implementation are not excessive.

Die Transformation Tschechiens galt bisher als Modell für die Einführung der Marktwirtschaft mit einer raschen Privatisierung und einem blühenden Kapitalmarkt. Fehlende und unzureichende Gesetze enthielten jedoch zahlreiche Schlupflöcher für Wirtschaftskriminalität und korrumpierten die ganze Wirtschaft. Zahlreiche Erfolgsindikatoren, wie eine hohe Marktkapitalisierung oder ein hoher Börsenumsatz, erwiesen sich jedoch als Irrtümer, die auf falschen Zahlen basierten. In Wirklichkeit wies der Kapitalmarkt eine geringe Liquidität auf und war ziemlich unbedeutend. Erst nach einem wirtschaftspolitischen Kurswechsel, der gegen Ende der 90er Jahre mehr Transparenz und Publizitätspflicht für Aktiengesellschaften mit sich brachte, sowie der Privatisierung der großen Staatsbanken in den Jahren 2000 und 2001 wurden die Grundsteine für die Entwicklung eines florierenden Kapitalmarktes gelegt.

This paper – using an estimation of an econometric model with panel data – investigates the determining factors in bilateral direct investment flows between OECD countries (except for the more recently-incorporated former communist countries of Central and Eastern Europe, or CEECs) over the past decade. Although the research seeks to explore the general patterns in OECD countries, it also attempts to detect the possible patterns specific to the Spanish case, which could prove particularly useful in drawing inferences for the CEECs. The findings suggest that international flows of direct investment between developed countries are explained not so much by factor endowment differences as by other variables suggested in Dunning’s ‘ownership-location-internalisation’ (OLI) model.

Der Bericht befasst sich mit der Wirtschaftslage und den Reformprozessen nach den Anschlägen vom 11. September in den Ländern Zentralasiens. Es wird dargestellt, welchen Stand die wirtschaftliche Entwicklung erreicht hat und welche Probleme in der zentralasiatischen Region bislang ungelöst blieben. Besonders hervorgehoben werden die Probleme bei der regionalen Zusammenarbeit. Abschließend werden Bedingungen betrachtet, unter denen sich eine weitere Kooperation zwischen zentralasiatischen und ausländischen Unternehmen erfolgreich entwickeln könnte.