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The effects of COVID-19 are currently pushing many economies into recession, affecting almost all countries and many billions of people worldwide. In order to recover from the economic downturn caused by COVID-19 and to promote regional development in Latvia, business lending plays an important role in our days. At present, the total amount of loans issued by credit institutions in Latvia has decreased compared to the previous analogue period, and according to statistics from the Finance and Capital Market Commiss...

Currently, the meat market is developing very dynamically. This is a consequence of the high import substitution throughout the country, due in particular to the State support for agricultural entrepreneurs. For 2021, it is forecast not only a threefold reduction in import compared to previous years, but also a boost to development of meat products. Thus, we can state that the livestock and poultry processing industry is on the rise and is a promising area for investment. Speaking about the Tambov region, we are a...

The article highlights the fact that for responsible tourism as the first and foremost benchmark for the tourism industry the obstacle is the challenges caused by the excessive growth of global tourism, also called "overtourism". It is emphasized that in order to mitigate the adverse consequences of this phenomenon, the authorities and the business community of the tourist destinations shall make active focused efforts to assess this phenomenon, the state of the tourism industry and its development prospects. The ...

Foreign direct investments (FDIs) are a very important part of our society. They create links and facilitate the transfer of technology and know-how between economies. However, the influences and effects of foreign direct investments on the recipient country are difficult to predict, depending on the characteristics of FDI flows and the concrete economic, social and political conditions in the host country. FDIs in the border area, in this case western border of Romania, have some particular features because of th...

Green public procurement has become, in recent years, a more often central topic to the attention of authorities, public and private sector. Green public procurement is a way to achieve the global goals of sustainable development - protecting the environment, encouraging innovation and clean technologies, inducing responsible production and consumption. Although in Romania the development of the Green public procurement is still in early stage (20% of the country's GDP), the law on green public procurement is an i...

Stratified economic complex Euclidean space on a set of economic functioning states, reflected in the phenomenological complex Euclidean space as a complex phenomena of economy, is В«bubblyВ» saturated with a complex quality phenomena through dialectical vector information flow of TQM (Total Quality Management). The convergence of complex quality phenomena in the temporal dynamics of the functioning state of economic phenomena is observed and managed by the economics quality paradigms. The economics quality paradi...

The purpose of the article „Presentation of the Coronavirus pandemic in financial statements of entities for the year 2019 and prevention of fraud“ is to substantiate the possible options for reflecting the effects of COVID-19 in the financial statements for 2019 and to suggest preventive measures against fraud. In this connection, the Coronavirus pandemic is defined as a material, non-adjusting event for the financial statements as at 31.12.2019. This is to be disclosed in the notes, if management has approved...

In Latvia, as in the other Baltic States, the rate of compulsory state social insurance contributions (SSIAI) for employee insurance is divided between the employer and the employee, with merely the proportion of the distribution differing. Self-employed persons, on the other hand, pay contributions for themselves in full amount, but the types of insurance and the procedure for calculating contributions differ in all three countries. Consequently, the level of social security of the self-employed also differs. The...

Thanks to the development, wide distribution and cheapness of the Internet, people began to resort more and more often to new forms of project development, its production, as well as financing. The Internet environment, due to its free conditions, significantly influenced the attitude of start-up companies and entrepreneurs to attracting capital. Basically, crowdfunding is used in North America and Europe. The popularity of using such funding raises topical research questions: is crowd-funding able to replace exis...

The aim of this study is to assess the determinants of the Romanian services import and export flows between 2005 and 2017. An augmented gravity model and a panel approach were used. The data were collected from World Bank and International Trade Center databases and the EViews 10 was used for regression. The main findings are: the GDP of the partner country, sharing a common language and EU membership positively influence the services import flows, while the geographical distance between countries proved to have ...