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With time, the localities within the Carpathian and Sub-Carpathian space of Romania have changed their functionality because of several historical and social events that took place. The study aims to highlight the transformations that have been observed over time, explaining the situation of the last few years and the trends that could favour the local economic situation. Thus, the research has been based on the analysis of the documents that rightfully proclaimed the establishment of the locality, on the analysis...

The study analyzes the functioning of the hospitality industry in the structure of working tourist routes in the regions of Russia. The range of problems that determine the quality of hotel service, which is provided to guests, located on the tourist route. The institutional conditions that affect the market of hotel services, as well as services of other means of accommodation. The study determined that the low level of service in hotels is determined by the structure of demand from tourists and tour operators wh...

Background and the purpose: The Chinese economy is the fastest growing and changing economy in the modern world. The importance of the renminbi as an international currency is not relevant to China's economic potential and role in the global economy, however, many scientific studies indicate that the position of that currency in the functions of international money will become stronger in the future. This encouraged the author to assess the consequences of the renminbi internationalisation, in particular the impac...

Sustainable development of the socium and economics, balanced interaction with the environment - these global issues are most relevant today. The world community is forming an understanding that these issues should be in the priority as the vital goals of all countries in the world. The article shows the implementation of the green financing policy in Mongolia at the present stage. Its positive impact on the socio-economic development of Mongolia and international cooperation with its geographical neighbors - Russ...

The IT technology solution supporting VAT collection popularised by OECD known as the Standard Audit File–Tax (SAF-T) raises many challenges for businesses bound to use it. The aim of the article is to interpret the conclusions drawn from the survey evaluation of SAF-T implementation in Poland conducted by accountants and heads of economic units. For the reasons presented in this article, SAF-T used in Poland (and probably in many other countries as well) currently may appear to be a transitional, not a permanen...

Tourist organizations are global corporations operating across national borders. In the tourism sector there is a trend towards globalization fueled by a variety of factors The term "globalization" refers to the fact that companies are increasingly selling products and services on a global market, that is becoming more homogeneous. Behavior patterns of consumers are becoming more and more similar, despite their national characteristics, this trend being analyzed for over two decades. Global consumers are becoming ...

Innovative financial strategies are transforming the pace and stakes of business and accelerate emerging market changes supporting the principal strategic factors that can undertake successful progressive advances, therefore the importance of innovative financial strategies have a central position and are responsible for the corporationsВ’ business excellence. The top pioneering companies prioritise and emphasise years of organizational performance and are uniquely qualified to inspire and enhance innovation becau...

The researches were performed in Orsova region, located at a distance of about 25 km far from Drobeta Turnu Severin (Mehedinti County). The point of attraction of the studied area is the Danube River. In Orsova area tourism is performed through the capitalization of the natural environment and of the accommodation supply, of the services offered by hotels and farms managers and the objective of this activity is to achieve incomes. In the ellaboration of this paper, our objective was to present the touristic potent...

Tourist information centers play the role of an important subject in the development of tourism in the destination. They exist in all countries with developed tourism and therefore have their foundation in Slovakia as well. The aim of the paper is to explore and compare the environment, the offer of regional products and employees' access in tourist information centers in Western, Central and Eastern Slovakia. In order to fulfill the aim of the paper we have made in the months from January to April 2018 survey in ...

This article highlights some aspects of the existing correlation between increasing the effort of allocating a larger defence budget to governments and the effect on economic development and material well-being of the population. Following the basic international rules imposed by NATO on the Member States, each state tries to adapt it to its internal conditions. The results of the existing relationship between defence spending and the economic development index are presented through the statistical analysis of twe...

Human capital plays an important role in the development of an innovation-oriented economy, the multiplication and spread of which will allow to preserve the existing and create new competitive advantages in high-tech industries, improve the development of the territory. The article deals with the features of statistical evaluation of the effectiveness of investment in human capital. The authors emphasize the need for an integrated approach to such an assessment in accordance with the types of effects. The analysi...

Business creating and developing is a complex, multifaceted and risky task. One of the ways to solve such tasks is to create an internal control system. Internal control should be exercised at all the levels of enterprise management. The current state of this issue does not provide clear recommendations for solving the problem, and this leads to an increase of the cost and tax burden. The organization of internal control is complicated due to the vagueness of the wording of the content of this type of control in t...

This article describes method of banking activities in the field of the Internet of banking of Russia. The issue of personal finance management services is relevant both for individuals and for families dealing with budget deficits and budget surpluses. Modern financial relations into which a citizen enters tend to become more complicated. This fact makes it necessary for subjects who manage personal finances to master a sufficiently high level of financial literacy. Therefore, personal finance management skills a...

The evolution of the world economy over the last decades has demonstrated its importance in the consolidation / imbalance of world geopolitics for every country. The economic crisis has determined for most states or groups of states to consider a priority the economic stability. Tourism, as part of the state and world economy, is a major contributor to GDP. Besides the financial value (which represents a payable “service”, also determines the international currency), tourism motivates the movement of people, c...

During the last years, the investments flows had a slow increasing trend on local market, even if in Romania were made improvements in order to attract investors, not only from Europe, but worldwide. In this regard, the aim of our study is to identify how the legislative changes have influenced the capital market, especially the investments area, including also the foreign direct investments. Romania was affected by the financial crisis which took place in 2008, so we have analyzed the situation before and after t...

The global problem of the XXI century is the problem of municipal solid waste (MSW). Exactly the problem of solid waste, which concerns everyone, is the most urgent and requires most attention because it affects all Russian cities without any exception (especially the cities of Moscow region and the resort area). The article demonstrates the importance of the ecological approach, as the most attractive for the tourism, when choosing the technological criterion for the preparation of the MSW for recycling. The auth...

The former socialist countries that joined the European Union have since managed to reduce the distance of wealth separating them from the richest countries of this bloc, albeit at varying degrees and pace. In the last few years, the so-called middle income trap, which may pose a threat to EU-member post-socialist countries, is attracting more and more attention. Although this concept has many definitions, their common thread is the exhaustion by states falling into such a trap of current simple development factor...

Minimum wage is a tool for regulating the labor market that, over the long term, causes controversy in the areas of both economic theory and practice. The goal of this paper is to present and analyze key theoretical economic approaches to the functioning of the labor market and the tools used to regulate it. These regulatory tools significantly influence the labor marketВ’s allocative efficiency, and we generally consider the institution of minimum wage to be fundamental part of this trend. Therefore, in this pape...

Spatial development of Russia has large disproportions of financial and economic nature. This can be illustrated by the example – most of the regions have a regional budget deficit. At the same time, the debts of the regions to higher budgets and banks are steadily growing. All this reduces the potential for regional development and the opportunities to ensure the economic security of regions’ development, the financial and economic risks of bankruptcy of the territories are growing. The purpose of the presente...

The article describes the market of hotel services in the modern period in St. PETERSBURG and Leningrad region. Regional market instruments and their influence on the market structure change are considered. The volume of the market of hotel services in the conditions of the existing external factors is presented. An attempt is made to identify trends and patterns of development of the hotel services market, to explore the relationship of social, economic, demographic, environmental and other social phenomena and p...

An important element of contemporary social and economic reality takes the form of intra- and intergenerational transfers. They are present both in the entire society scale (macro scale) and in individual families (micro scale). In the subject oriented perspective, among economic intra-family transfers the following types of transfers are identified: “gifts of time”, “gifts of space”, “financial and material transfers”. Financial transfers take two forms: inter vivos and post mortem. The first of them ...

Brief description of the study and used methods. Brief description of the study and used methods. Brief description of the study and used methods. Brief description of the study and used methods. Brief description of the study and used methods. /Times New Roman, 12/ The paper studies the specifics of the functioning of the ancient Roman monetary system in the period of the late Republic and the early Empire. As a result of the expansion of the economic space that was due to the large conquests, disparities arose b...

Background: Modern studies of the concept of systemic risk presuppose an answer to the main questions: as a systemic risk is defined in the scientific literature and central banks; what is the content of "systemic risk" and what factors are involved in its accumulation; what is "infection" and how does it relate to systemic risk Methods: Central banks rarely suggest a definition of systemic risk. The review of S. Usterlu and J. de Hahn shows that central banks often focus on clarifying definitions of financial ins...

The article deals with the basics of the formation of tourism in society, reveals the content of the phenomenon of tourism, offers a unified social system of tourism, its essence, characteristics and philosophical purpose. The analysis of scientific understanding of the phenomenon of tourism based on scientific schools of the Western sociological science is carried out. An attempt is made to systematize the statements of European scientists about the commercial nature of tourism and the creation of a single touris...

In this paper the negative social and economic consequences of raising the minimum wage for the regional economy on the example of Krasnoyarsk Region are discussed. It is shown that in Krasnoyarsk Region regional coefficients and northern wage surcharges have been established, and according to the Constitutional Court Decree No. 38-P of 07.12.2017 employers are obliged to charge them in excess of the minimum wage. As a result, the social guaranteed minimum wages in the region is even higher factually than the subs...

The true and fair view principle is a key rule that has been functioning in accountancy for a very long time. In the face of an ever-growing world and new opportunities that have forced development and changes in the approach of accounting, the true and fair view principle became even more crucial. Its maintenance has become one of the prime goals for each person creating a financial statement. The theoretical part of the article was focused on showing the meaning of the true and fair view principle and its import...

The present day approaches to the concept of “entrepreneurship” are analyzed. Possibilities of high-skill training of young people for entrepreneurial activity in the context of a consistent integrative "School – Higher Education" system are assessed. The specific features of implementing the program of business training of students are revealed. The structural components of the program are presented. For justification of the efficiency and implementation of the business training program, the results of peda...

The article examines prospects for expanding exports of manufactured goods in Russia's foreign trade and increasing presence of Russian companies on the world markets of goods with high added value. In the paper macroeconomic tendencies, national and regional conditions of foreign economic activity (FEA) are analyzed. The author focuses on the infrastructure and public administration aspects of supporting international trade of the Russian Federation. The article offers short-term, medium-term and long-term scenar...

Companies are increasingly implementing new performance measurement systems to track non-financial measures such as customer and employee satisfaction, quality, market share, productivity, and innovation. According to the existing theoretical literature, non-financial performance measures provide managers with incentives to improve long-term financial performance and, on the other hand, financial performance measures provide managers with incentives to improve short-term financial performance. This study examines ...

One of the fastest growing sectors, the creative economy, contributes to the growth of local, regional and national economies, both through revenue generation and job creation. The study aims to analyze the dynamic of the creative economy at the level of the territorial systems, structured by the main creativity poles in Romania. Quantification of the role of creative economies in the economic profile was achieved by creating a database, at the level of administrative-territorial unit, with the main economic indic...

In the development strategies and programmes of the Russian Federation as a whole and of individual regions, tourism is recognized as an important tool for sustainable rural development. The popularity of rural tourism is largely due to the low cost of recreation and the possibility of recreation and rehabilitation in certain climatic conditions, but its development requires the search for new forms of organization and the creation of appropriate conditions, and in the first place – infrastructure. The aim of th...

The article analyzes the role of regional development institutions in the social and economic development of the constituent entities of the Russian Federation. The authors summarize the experience of managing regional development institutions, conclude that it is necessary to increase the degree of influence on the development of the economic and social infrastructure of the regions of the Russian Federation. The article specifies the essence and content of the concept В«regional development institutionВ», as wel...

Health is a fundamental good that can not be bought in a market, and its determinants are the genetic "luggage", lifestyle, the environment, and health care, regardless of whether we are talking about humans or animals. The need for health care is a relative concept involving both the individual and society, all of which has as its starting point the poverty of information (knowledges) that an individual has in relation to his "needs" for health care. The relations with customers and communication between them is ...

Currently, suburban passenger transportation in Russia has a leading socio-economic role in satisfying the citizensВ’ requirement for displacement. The social significance of railway transport is primarily in its demand among the population with low income. Russian Federation regions establish the passenger-fare for selected groups of the population below the actual cost, so as not to reduce passenger traffic. Meanwhile, regional governments need to compensate for the loss of carrier's income which appears as a re...

The spa resorts from Romania recorded after 2000 specific sectoral dynamics determined by the lack of a strategic reference framework and very low private investments. The study aims to highlight the patterns of structural evolution of spa resorts from Romania, based on a consistent statistical support. On this line, a database was created starting from the classification of activities in the national economy (NACE) for the period 2000-2016. Based on this statistical support, detailed analyzes were carried out reg...

In the recent years Russian sugar market has been undergoing considerable changes stipulated by the innovation development and national policy of the country focusing on food supply security and support of the domestic beet sugar production. The Russian sugar market has turned into export-dependent from import-dependent and deficit. The article analyses the place of the Russian Federation in the world sugar market in the context of import substitution and shows the Russian Federation as one of the biggest world su...

Through the fact that capitalize the resources and local products, and combines two activities, agriculture as main activity and the tourism as a complementary activity, the profitability of agrotourism activity is high, being a chance of alternative incomes for rural areas, especially for those from the mountain area. Practicing agrotourism ensures the sustainability of the rural area due to the fact that it follows the encouraging of the practice of traditional activities in rural communities, stopping land aban...

In todayВ’s rapidly changing business environment business performance is becoming increasingly important. Improving business performance becomes an integral part of the strategic management of any business that wants to succeed in today's competitive environment. New methods (concepts) that are used to measure and manage financial performance are gradually introduced. These methods include not only financial but also non financial indicators that describe financial performance in its entire complexity. The aim of...

The study aims to contribute to the development of methods for analyzing the dynamics of economic phenomena in the territorial aspect. Spatial dynamics of development and concentration tendencies in territorial profile is concerning more and more the scientific world and the decision-makers. Knowledge of this two elements is particularly important in developing coherent development strategies at the territorial level. Despite the great interest in economic geography, the number of studies is relatively low and are...

The analysis of foreign experience in the implementation of projects for sustainable development economy has shown that in almost all countries the greatest number of innovation projects are carried out in the construction and energy sectors, while very strict requirements for energy efficiency level are imposed on the facilities The accumulated array of analytical data in this field is definitely insufficient to obtain clear and unambiguous conclusions about the relationship between the energy efficiency of the b...

A wide variety of scientific sources and mass media maintain that at present the loss of people, both in the whole world and in individual countries, has taken on noticeable proportions, which are difficult to conceal or leave unattended by society. In this context, it is sufficient to give the following comments: "statistics show: every three minutes on Earth one person disappears without a trace"; "Every year in Germany, more than 100,000 children and young people are reported missing"; "According to official st...

The issues of fairness of taxation, use of taxes as a tool of social regulation are traditionally very significant. Especially their sharpness is felt during periods of global economic crisis, when there is a significant reduction in the standard of living of most of the population, and there is an increase in property stratification in society. For the Russian Federation, these problems acquire special significance in connection with the present low level of income of the majority of the population and a high lev...

The paper addresses the topical issues of the development of ecological tourism and its influence on the ecology and the economy of the regions involved in the development and realization of ecological tours. The paper aims to summarize and to specify the scientific approaches to identifying the essence of ecological tourism from the providersВ’ and customersВ’ perspectives, and grounding the challenges and prospects of ecological tourism development in the world. This research was based on the methods of expert a...

Tourism development in the Russian Arctic is one of the most promising prospects for the regional economies in terms of sustainability, diversification, and social outcomes. However, the opportunities and capabilities to participate in the tourism sector vary among different regions depending on their geographical location, climatic conditions, and infrastructural development. Official statistics often cannot catch up with fast speed changes of the Arctic communities. While several case studies have been conducted...

This work is devoted to the topical issue for Armenia: the development of tourism by identifying the factors influencing the satisfaction of Russian tourists visiting Armenia, as well as factors influencing their intention to revisit the destination and its recommendation to friends. According to statistics from the past nine years, tourism in Armenia gained new pace of development. Among all other countries and regions, the leader in the number of tourists visiting Armenia is Russia. Also, the two countries signe...

The Republic of Croatia is a country with significant number and large variety of autochthonous products. In recent years, more attention is paid to the importance of local products and their protection at national and even European level. The aim of the paper is to explore tourists perception towards autochthonous products quality. For the purpose of this paper the primary research in the area of Dubrovnik has been carried out. Autochthonic products in Croatia can be protected by the marks of origin, geographical...

For a long time, corporate governance has been presented as a universal solution for all problems. Economic and financial disasters have been a cold shower for the global society, showing that the mere statement of leadership based on corporate governance principles does not award objectivity and professionalism to activities by itself. Much has been said and little has been implemented along the times, so that the global society has had to accept that a correlation is needed between what is declared and what is i...

Latvia has defined the smart specialization strategy in national level since 2013. The planned outcome - increased capacity of innovations - includes the share of high and medium-high technology sectors in the export; number of researchers employed in the private sector; increase in manufacturing productivity and share of innovative enterprises. Smart Specialization Strategy measures are tied to the Latvian Sustainable Development Strategy until 2030, the Spatial Development Perspective and the National Developmen...

Modern institutional theory demonstrates astute attitude to studying transactional costs. The key explanation of transactional costs will include the costs, which the economic entity will bear while complying with the conditions of economic exchange. This is one of the guiding reasons why institutional theory of economics is often referred to as the economic theory of transactional costs. The real volume of transactional costs in the Global economy is getting increasingly high. Economic entities are facing the nec...

The paper addresses the widely discussed problems of development of banking systems, as well as the problem of achieving a balance between ensuring financial stability and stimulating business activity in the country. The lessons of the global financial and economic crisis 2007-2009 prompted regulators and, in particular, the Basel Committee on banking supervision, to transform the regulatory system to more rigid models. The need for restrictions on the freedom of the market through increased powers of regulatory ...