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The problem of many European Union countries has been for a long time a high deficit of public finances and also high public debt. This situation resulted in the year 2012 to debt crisis, which need to be addressed by non-standard measures of economic policy. Although Slovakia never fell between countries with excessive public debt, however, since the formation of independent Slovak Republic in 1993 never reached a balanced state budget. The government, therefore, has developed В„The stability program of the Slova...

In the Russian economy, there is a growing staff shortage, among the key reasons of which are 1) decline and aging of population; 2) growing structural deformation of labor market; and 3) preservation of labor-intensive type of economy. Effective regulation of the labor market in Russia demands consideration its economy taking into account the heterogeneity of labor formed through the processes of population reproduction and migration. For this purpose, we develop a model that allows forecasting development of ski...

The aim of this study consists in analyzing the importance of the exchange rate forecast using the Box-Jenkins models, also known as Auto Regressive Integrated Moving Average (ARIMA) models. The first part of the paper presents the main research in this field, which can be classified in two categories (studies applying classical methods, such as Box-Jenkins models and studies which rely on sophisticated prediction tools), and summarizes the main findings of some of the studies applying Box-Jenkins models. In the s...

The relevance of the study is confirmed by the fact that in the context of interchangeability seasons, activities of economic bases come with changes intension dynamics social-economic processes. So as to could be purposefully inform to seasonality, necessarily rate and analyze their. The aim of this study is developing forecast of external turnover country controlling for seasonal component. To achieve this goal the following problems were solved: analyze quarter data about dynamics of external turnover; assess t...

The article presents the elements of the management concept for the development of subsidiary industrial subdivisions of agrarian enterprises. The development of ancillary units (subdivisions) is supposed to be carried out through the organization of cooperatives with their participation, with the participation of other legal entities, peasant (farmer) households, representatives of private subsidiary farms possessed by the population. Subsidiary units of agrarian enterprises are given the main role. The proposed ...

In countries with developed market economies, forms of financial support for small and medium-sized businesses have been developing for decades and represent a large set of programs that include activities to assist small and medium-sized businesses throughout their life. Currently, there is a need for in-depth study of the financial support system for small and medium-sized businesses, methods of supporting small and medium-sized businesses, and evaluating the effectiveness of financial events held by the state. ...

One of the main tasks of the state is to finance and support sectors of the economy that are important for social development. This task is realized within the framework of state industrial policy. At present, a significant shortcoming of the industrial policy is the lack of a transparent justification for the selection of state support and financing facilities. There is no methodology for establishing functional links between the three basic elements of industrial policy: support objectives, objects (industries) ...

The purpose of this report is to trace the dynamics of room prices in the main hotel types in Bulgaria, which occur as a result of the changing market situation (conjuncture) during the period 2010-2016. The 4 star coastal and mountain recreational hotels are investigated by categories, seasons and weekly periods. The method of average values and price indices is used as well as the method of non-standardized interview with hotel managers. The results of the survey lead to the conclusion that hoteliers in Bulgaria...

The article presents the results of the study, aiming at analyzing experience of state policy implementation in the field of monotowns support in Kazakhstan, identification of specific and common problems and their solutions. The study identified stages of state policy development to support monotowns, there was analyzed monotowns selection criteria evolution, factors responsible for these changes were justified. Considerable attention is paid to characteristics of monotowns system in Kazakhstan from the point of ...

The economics has been regarded as an applied field in the economy, essentially an application of the neoclassical economy of well-being and in close connection with medical sciences and medical technology. In the scientific-didactic journal no. 1 (103) / 2018 of the Academy of Economic Studies of Moldova, we have argued that the incentives to reduce the cost per case is the motivation of payment per case as a prevailing element. Case-based funding is induced by the conviction that hospitals have many opportunitie...

The purpose of the paper is to analyze the impact of the health systems financing in the EU Member States, identifying the structural and institutional changes necessary to eliminate the negative trends and to increase the efficiency of the healthcare sector. The good health is considered by the European Parliament as the key to economic growth and sustainable development in the EU. The methodology of the study includes a theoretical and methodological analysis, a descriptive approach, a method of analysis and syn...

In this article the institutional environment of the banking system of the BRICS countries are analyzed. There is analysis of the key statistical characteristics of the banking sector, the main trends in its development. Also article reveals the characteristics of the external institutional environment. The purpose of our study is to test the following hypothesis: factors of the external institutional environment affect the banking system. The subject of the study is the BRICS countries banking system. The period ...

The paper addresses various topics considering the identification of risks most common for financial market infrastructures. Views expressed in the article are in line with The Principles for financial market infrastructures and modern risk management developments in this field. Different approaches to identify risk appetite are considered depending on the business line of the infrastructure and main risks associated with it. The study uses comparative methods, benchmarking to market practices and recommendations....

This article provides a review of recent unfolding development of countries working on creation of central bank cryptocurrency (CBCC). Central bank issued private blockchain based digital cash product such as Fedcoin, introduced by J.P. Koning and used by Bank of International Settlements (BIS) in its report, represents centralized rival of decentralized Bitcoin, electronic peer to peer payment system without central bank control (CB). Article further explores what the ongoing crypto digital turn spells for the fu...

Financial models for assessing the economic stability of an enterprise are typical by being created on empirical economic data. The test and verification samples on which they were designed contain the accounting information of selected businesses. This accounting information has been recorded, aggregated and consolidated in accordance with the accounting standards that an entity uses as a result of local legislation requirements or voluntarily. The purpose of bankruptcy models is, on the basis of accounting infor...

Objectives: In modern conditions, almost all countries of the world and Russia are characterized by ecological problems related to environmental pollution by the industrial sector. Industry is the main pollutant of atmospheric air. People living in large industrial cities have to breathe the air oversaturated with harmful and toxic substances which are released into the atmosphere by industrial enterprises. At that, the scale of pollution depends on the size of the enterprise and the consumed raw materials. Thus, ...

Background. This study is aimed to scrutinize the interrelation between satisfaction and concern with own appearance and subjective estimation of economic status that is considered as one of main predictors of life satisfaction. Resent research analyzes predominantly the role of real economic status on different aspects of human life including satisfaction and concern with own appearance [1], [3], [4], [6]. In contrast to mentioned studies our investigation is focused on subjective-comparative approach to economic...

The process of digitization is increasing its pace, which seems to outmatch the human capabilities of evolutionary adaptation to ongoing changes [1]. The 21st century makes it necessary to use new technologies during management- and production-related processes, as well as in ones involving finance and accountancy. The development of digital economy, automation of processes, digital financial services and a widespread access and transfer of financial and non-financial data enforces development of digital competenc...

The main purpose of this study is to describe and analyze the overall level of motivation of workers of hotel enterprises in the Ferizaj Region in the Republic of Kosovo and to measure the relationship that exists between motivation and quality of service. Part of the study was 467 employees of hotel enterprises, of which 36.6% (n = 171) were women and 63.4% (n = 296) were males. The analytical data analysis was done through the SPSS program. From the findings of this study it has been found that the employees of ...

The features of state utopia implementation are analyzed on the basis of Soviet socialism conceptions. The transformation of social-economic and philosophical-political foundations of state is disclosed through the phenomena of property and freedom. The research is based on systemic, comparative-historical and statistical approaches. The research objective is to study the interrelation between the socioeconomic and the political-visionary spheres of functioning of the first socialist state, and to reveal the cause...

This article aims to identify and evaluate Polish achievements in implementing sustainable development in the context of Goal 12 of the 2030 Agenda, that is, creating patterns of sustainable consumption and production. The current set of synthetic substantive and complementary indicators, established by the UNO, were used to measure the progress of this implementation. The research period covers the period 2010–2016. The authors analyzed legal acts, institutional reports, statistical data, dynamics and ratio ana...

In modern times, the choice or creation of a well-developed labor management system creates an efficient process of enterprise activity in all areas of this field of study. In the design of the labor process and the practical implementation of measures for the organization of labor in modern conditions, the methodical basis is the following series of the most important principles: - a systematic approach to solving problems of labor organization; - planning, providing for the planning of the quantitative and quali...

The article discusses the issue of improving the quality of life of the population in the Russian regions. It presents an approach to the management of the region in the form of optimization problems aimed at improving the quality of life of the population in the region by increasing the probability of referring it to the class of regions with a higher quality of life. The optimization problem is solved based on identified relationship between the quality of life of the population and socio-economic indicators of ...

New knowledge and innovations have been developing as a resource of economic stability and growth in recent years. That is why territories become more dependent on the level of new knowledge and innovations. In view of the specified current trends of world economy development, which initiate generation functioning of a new type on the basis of the network concept, it is necessary to consider features of interaction of regional economy subjects in the context of cluster and network collaboration, as well as the con...

Pension insurance belongs among the most important areas of social security. In 2004, a new pension system has been introduced in Slovakia. The system before the pension reform was characterized by a great deal of solidarity. Since 2004, the government has tried to place the responsibility of the future income of old-age pensions on workers/inhabitants themselves. Even the last modification of the pension system attests the unpopular and superficial solution of this important topic. There are several options to se...

The paper offers an analysis of the influence of the population ageing on the social insurance company expenditures in the Slovak Republic Regions. The explored dimensions comprise old age economic dependency index and ageing index. The population ageing represents a major issue for the social insurance system in the future. The methodology employed for the carried out analysis is the analysis of sensitivity in a form of the regression analysis for the panel data. The territorial aspect of the regression model is ...

This paper presents an analysis of the influence of the implementation of programs under the European Social Fund on the continuous vocational training market in Romania in the post-accession period, 2007-2018. They mainly focused on continuing vocational training projects to increase human resources adaptation to the changing needs of the labor market and increase employment. After 15 years of formation of an educational market in this area, made up of thousands of private trainers, profound mutants have grown th...

The new challenge before todayВ’s CEOs and executives is to realize that intellectual property (patents, trademarks, copyrights, etc) are assets that enhance corporate value and offer the company a new competitive advantage. The proper exploitation and measurement of intellectual property or intangibles gives strategic and financial benefits to the underlying organization.The number of patents of the underlying company are used in the literature among other variables as a proxy for intellectual property or innovat...

As shown by researchers in the field of management, the goal of strategic management is to increase the competitiveness of various economic actors. At present, in connection with a significant increase in competition, the issues of increasing competitiveness are of paramount importance for economic agents of any kind. At the same time, the constant complication of economic conditions, increasing demands on the economic entities performance not only of economic, but also of social, environmental, etc. character, le...

“Aurel Vlaicu” University of Arad took part in a large scale monitoring study that focused on the university graduates all-over the country. The national study was performed for 18 universities targeting the graduates and their insertion on the labour market. A national database was set-up and data-processing was performed, involving the entire amount of data. After consolidating the results, the central database was split-up and delivered to the universities for their own data-processing and conclusions. This...

The multifaceted nature of federalism imposes its formation as a political, economic, social, and cultural institution. An analysis of the existing model of federal relations in modern Russia showed incompleteness of the institutional design of federalism. The article analyzes federalism as an economic institution, mostly affecting aspects of fiscal federalism. The reasons for the ineffectiveness of the existing Russian federal model are the high transaction costs and disfunctions of the institution. Institutional...

Intangible assets play an essential role in the property structure of businesses. Technological progress and the use of information and communication technologies greatly change the so-called traditional economy. The current digitized economy is very flexible, global; it works with high-quality information systems and requires new approaches to manage partial business activities. All this, results in the growing importance of intangible assets in businesses and subsequently leads to the concentration of value in t...

The paper suggests and tests the methodology for quantitative evaluation of sustainability of a regional socio-economic system development. More precise attention is paid to the role that ICT and innovation dynamic factors play in the process of regional development. The research hypothesis: there is a significant probability of the Russian regional economic systemsВ’ shift to the knowledge-based economy mode, that stands on several social development determinants, mainly human capital and innovation. The task of ...

The increasing role of intellectual capital in producing goods and services, as the main source of corporate competitive advantages, makes organizations reconsider their financial reports with the aim of proper intellectual capital accounting. Currently, only intangible assets and intellectual property are recorded in financial accounts. Intellectual assets themselves, by means of which goods are produced, are not presented in modern accounting systems. The absence of information about intellectual assets in accou...

As a result of globalization, the transfer of ownership to the hands of foreign firms, as a result of acquisitions and mergers, the accounting entity switches to other accounting systems. In the US, the Generally Accepted Accounting Principles accounting standard is used, the International Financial Reporting Standards accounting system is increasingly being promoted in Europe, and the Czech Accounting Standards are the most widely used in the Czech Republic. However, some Czech companies also keep IFRS accounting...

The involvement of the creativity and the cultural values which are specific to the ethnicities living in the region of Oltenia, Romania, in the local economic development of the rural communities of Romania, regardless of the administrative unit they belong to, have faced, in the last years, issues of economic nature. The study of vines which comes in support of the remedy of this situation by searching solutions springing from the traditional culture and creativity of the ethnic communities. Starting from this i...

The main question which the author of the report would like to answer is this: "Is a freelancer a man of the future of work?В». There are methodological difficulties in the study of freelancing. First, in determining the concept of "freelance". Second, when selecting principles and methods for quantifying the participating workers in a given form of employment. We will be able to overcome these difficulties only partially, using a comparative approach, historical method, analysis of statistical data and a systemat...

No successful economy can be implemented in closed mode in the contemporary globalized world. A view of an explosive development of the national IT technology the society is forced to transform itself from vertically-integrated model into horizontal model. The functions of state authorities change significantly, shifting from interim measures to a standard of quality services provision. The way of life of a contemporary person changes significantly; there is also a process of state borders blurring and stateВ’s fi...

An analysis of the contribution of the information technology industry in India showed that the country had found a profitable middle ground between science and economy, the share of the sector in the country's GDP structure is more than 10% in 2016/2017. On the other hand, the total contribution of information technologies, including the digital and mobile component of the Russian economy, amounted to 5.06% of GDP in 2017. Despite the economic stagnation, high-tech segments have continuing to develop and find new...

As the importance of tourism is increasing, ever more states from Europe and not only are using strategic branding and a variety of marketing means to attract a growing number of tourists. However, destinations are among the most difficult entities to market. Considering the importance of a clear marketing strategy and proper images and slogans used, the paper aims to identify the destination personality, see whether RomaniaВ’s official website can have an effect on the image of the country and if it complies with...

This article is directed to consideration of ecological development factors in hospitality. Authors provide and analyze the data of authoritative research such as World Tourism Barometer and Statistical Annex, Environmental performance index 2017 Report, and others. They confirm the growth of tourist flow in general and increasing share of ecological hotels and objects. The information about consumer preferences changing in hospitality is also provided. The second part of article is devoted to determining the key ...

In modern society, labor becomes a complex and diverse action. The forms of labor are changing, and it`s boundaries are eroding. In these conditions it is important to rethink the economic understanding of labor. The main goal of this article is to formulate special aspects of labor as of a non-economic action. To achieve the goal the author analyzed such notions as “economic action”, “non-economic action”, and “labor” as they exist in scientific literature. It was also required to find out the distinc...

Migration of the population is one of the most important demographic processes. It has a significant impact on the change in the structure of the population, and as a result - on the overall economic indicators of the country's development. Transformational processes in the Russian economy are responsible for qualitative changes in the labor market. These changes affect both demand and supply of labor. Increasing the efficiency of costs for hiring new employees and stimulating their labor productivity are one of t...

In the course of conducting our own research related to the analysis of the impact of socio-economic factors on the development of migration attractiveness, demographic and economic security of Russia and individual regions of the country, in order to generalize and understand the social and economic situation, identify the most important problems related to the territorial movement of people, classification of labor migration factors that exert the strongest influence on the social and economic situation. For the...

Leisure Tourism has increased its share of domestic tourism both in Romania and abroad in the last decades, and so have tourism TV commercials, tourism guides, tourism flyers, etc. The Romanians are practicing new forms of leisure (e.g., golf, kart racing, rafting, river cruise, etc.) involving new means of locomotion to either get to their destinations or to spend their free time. These forms of leisure use such means of locomotion as automobile, balloon, bateau, bicycle, boat, bus, cab, canoe, ferry, gondola, ho...

The aim of our research is to present an approach to systemic liquidity management of the company. We study patterns of liquidity management that reflect the requirements of the relationship between strategic and current financial management, the interaction of liquidity risk and profitability as the core of added value creation, as well as the tools for their implementation. The econometric toolkit was aimed at identifying threshold points in the joint dynamics of liquidity and profitability with the identificati...

The article presents the essence of productivity, the level of which, as developed countries' experience shows, is a significant factor improving the competitiveness of businesses. The notion, as well as features and multidimensionality of logistics systems have been presented. It has been determined that a well operating logistics system should be characterized by: effectiveness and efficiency, and its processes should guarantee appropriate quality. At the same time the system should be productive, profitable and...

The subject of the paper is an analysis of the situation in public finances in Poland and Slovakia in 2000-2018. The authors formulated three research questions: 1) What was the budgetary situation and the level of public debt in both countries in the pre-accession period, in particular in the years of economic slowdown 2001-2003; 2) What were the results of public finance consolidation after the EU accession, in the period of economic prosperity 2004-2007; 3) What was the scale of the deterioration in public fina...

The objective of this paper is to analyze the development of luxury hotel industry in Romania in the last more than thirty years. The research methodology consists of the inventory of the accommodation capacity of Romania, of the luxury hotels built in this period and the analysis of assessment methods and identification of hotel strategy types for this market (hotel chain penetration, formation of the new brands). According to the new trends in luxury travel industry, the research aims at analyzing the possibilit...

The article presents theoretical consideration of types and elements of personnel motivation programs and performance evaluation criteria as obligatory components of a management accounting system, aimed at reaching strategic organizationВ’s goals and objectives, through investments in human capital. Result-oriented performance is only possible by means of matching employeesВ’ professional interests and abilities with corporate goals. The presence of highly qualified personnel in an organization is its main compet...