Ekonomika rozvitku最新文献

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FACTORS IN THE FORMATION OF SUPER-CYCLES IN WORLD COMMODITY MARKETS 世界商品市场超循环形成的因素
Ekonomika rozvitku Pub Date : 2022-06-17 DOI: 10.57111/econ.21(2).2022.19-27
I. Hrabynska, M. Kosarchyn
{"title":"FACTORS IN THE FORMATION OF SUPER-CYCLES IN WORLD COMMODITY MARKETS","authors":"I. Hrabynska, M. Kosarchyn","doi":"10.57111/econ.21(2).2022.19-27","DOIUrl":"https://doi.org/10.57111/econ.21(2).2022.19-27","url":null,"abstract":"Over the past few years, the world’s leading commodity markets have seen an upward trend in prices, which may indicate the beginning of a new super-cycle or may be of a short-term nature, driven by current changes in demand and supply. Commodity super-cycles are important for the global economy, especially for macroeconomic policies in commodity-exporting countries, and are also reflected in the dynamics of international financial markets. The purpose of the article is to determine the essence and features of super-cycles in world commodity markets as well as to identify the factors that led to the increase in commodity prices in 2020-2022. To solve the objectives set in the article, a number of general scientific and special methods of scientific cognition are used, namely the method of theoretical generalization, historical and logical methods, descriptive-analytical method, analysis and synthesis, induction and deduction, abstractlogical method and method of economic-statistical analysis. The article outlines the mechanism of deployment of the conjunctural cycle in commodity markets and its connection with long cycles of business activity, which are conditioned by the implementation of revolutionary technological innovations. It discusses the dynamics of the main composite commodity indices. The factors influencing the growth of prices for commodity assets at the micro and macro levels are identified. The article traces changes in the course of commodity super-cycles during the 20th and early 21st centuries and investigates their causes. It is revealed that global inflationary processes, the dynamics of the US dollar index as well as the disruption of supply chains in international trade due to the COVID-19 pandemic had a significant impact on the global growth of commodity prices in 2020-2022. At the same time, forecasts about the recession of the global economy caused by the large-scale military aggression of russia in Ukraine and the long-term consequences of the pandemic as well as macroeconomic policies of large economies aimed at overcoming excessive inflation may somewhat cool the prices of commodity assets. To assess the sentiments and expectations of economic entities, the dynamics of the basis for WTI oil is analyzed, which gives grounds to conclude that the price fluctuations in global commodity markets in 2020-2022 are short-term in nature as well as to question the beginning of a new super-cycle. Identification and forecasts of conjunctural fluctuations in global commodity markets are important without any exaggeration for all economic entities – both for producers in making strategic as well as tactical management decisions on the development of production and in the formation of structural and macroeconomic policies of the country in order to increase the export potential of the national economy and to ensure its competitiveness.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47439139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
DIAGNOSIS OF CAPITAL STRUCTURE AS A TOOL FOR ADMINISTERING THE FINANCIAL ACTIVITIES OF ENTERPRISES 资本结构诊断作为管理企业财务活动的工具
Ekonomika rozvitku Pub Date : 2022-05-29 DOI: 10.57111/econ.21(2).2022.8-18
M. Berest, N. Sablina
{"title":"DIAGNOSIS OF CAPITAL STRUCTURE AS A TOOL FOR ADMINISTERING THE FINANCIAL ACTIVITIES OF ENTERPRISES","authors":"M. Berest, N. Sablina","doi":"10.57111/econ.21(2).2022.8-18","DOIUrl":"https://doi.org/10.57111/econ.21(2).2022.8-18","url":null,"abstract":"The development of market transformations in Ukraine has led to the noticeable changes in the sphere of formation and using enterprise capital. Formation of the optimal capital structure, which allows to combine an increase in financial results with the existing risk level, is the main factor of maintaining effective functioning. In this connection, processes of financial activity administration require rethinking and improving the approaches to diagnosis of financing sources both in the theoretical and practical aspects. The aim of the study is to improve the methodological approaches to the diagnosis of enterprise capital structure as an instrument of justifying and making managerial decisions in financial management system on the basis of theoretical approaches and specifying the definition of the term “enterprise financial activity administration”. Methods of scientific cognition were used in the work, in particular: of system approach, analysis, synthesis, scientific abstraction, generalizing. Methods of financial coefficient analysis and Shuhart’s control charts creation were used to carry out capital structure diagnosis on the example of JSC “Zhytlobud-1” (Kharkiv). The author’s vision of the essence of enterprise financial activity administration as a process of developing and implementing managerial decisions was formed, including formation and use of its capital with the aim of financial strength, profitability and creating conditions for fulfillment of obligations, based on information, diagnostic and analytical support for the realization of managerial procedures. It was concluded that diagnosis of capital structure served as the key element in the system of instruments for the administration of enterprise financial activity. The use of Shuhart‘s control charts for diagnosing the capital structure was proposed, and relevant calculations were carried out on the example of JSC “Zhytlobud-1”, the level of manageability of its capital components was assessed, and key management objects in the structure of the company’s financing sources were identified. The results of the research can be useful for scientists, students of economic specialties of higher educational establishments, managers and employees of financial divisions of enterprises and financial institutions","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45816480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Determining the economic sustainability reserve of economic entities in modern operating conditions 确定经济实体在现代经营条件下的经济可持续性储备
Ekonomika rozvitku Pub Date : 2022-04-20 DOI: 10.57111/econ/2.2023.08
Otenko Vasyl, L. Malyarets, I. Barannik, Oleksii S. Budarin
{"title":"Determining the economic sustainability reserve of economic entities in modern operating conditions","authors":"Otenko Vasyl, L. Malyarets, I. Barannik, Oleksii S. Budarin","doi":"10.57111/econ/2.2023.08","DOIUrl":"https://doi.org/10.57111/econ/2.2023.08","url":null,"abstract":"In complex socio-economic and political conditions, economic entities must have a sufficient level of economic stability and its reserve for normal life activities. Therefore, the problems of assessment and analysis of economic stability and its reserve are urgent and require immediate solution. The purpose of the article was to study the determination of economic sustainability of economic entities, its reserve, substantiation of the logic of the stages of this determination, and the formation of an appropriate analytical tool. In the research process, general scientific and special research methods were used: abstract-logical method, systematic approach, methods of analysis and synthesis, graphic method, method of building an integral taxonomic indicator of development, multi-criteria optimisation, multi-factor regression analysis, genetic algorithm, marginal utility method, cluster analysis. The article presents the selection of a system of economic sustainability indicators for economic entities of the state sector of Ukraine across regions from the point of view of their legislative basis. In order to determine the reserve of economic sustainability of public sector economic entities across the regions, an economic-mathematical model of multi-criteria optimisation of economic sustainability indicators was developed and solved using a genetic algorithm, which is a new analytical support in economics in solving this problem. A new result in economic-mathematical modelling is the method of forming partial criteria in multi-criteria regression dependency optimisation. The article provides a procedure for implementing the marginal utility method for justifying the final single optimal solution of the multi-criteria optimal problem of determining the optimal values of economic sustainability indicators. It has been proven that it is advisable to determine the absolute value of economic sustainability reserve for economic entities in the regions by their clusters, which were obtained on the basis of the system of indicators of economic sustainability and regional gross product per person. The practical significance lies in the fact that such a scientific-methodical approach to determining economic sustainability and its reserve allows for the objective development of management decisions at industrial enterprises to ensure their normal life activities in difficult war and post-war conditions","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43026977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
TECHNOLOGY OF DETERMINING MOTIVATION RESERVES FOR MANAGEMENT STAFF 管理人员激励储备的确定技术
Ekonomika rozvitku Pub Date : 2022-03-23 DOI: 10.57111/econ.21(1).2022.36-42
V. Luhova, Y. Sotnikova, N. Nazarov, A. Churkin
{"title":"TECHNOLOGY OF DETERMINING MOTIVATION RESERVES FOR MANAGEMENT STAFF","authors":"V. Luhova, Y. Sotnikova, N. Nazarov, A. Churkin","doi":"10.57111/econ.21(1).2022.36-42","DOIUrl":"https://doi.org/10.57111/econ.21(1).2022.36-42","url":null,"abstract":"In modern crisis conditions, the development and implementation of a mechanism for motivating management staff at enterprise faces a number of complications, the main of which is the lack of financial resources. The purpose of the article is to develop a technology for determining the reserves of motivational influence on the management staff of the enterprise. To achieve this goal, the following methods of scientific research were used: generalization, comparison, analysis and synthesis, the method of expert assessments, the questionnaire method, factor analysis, ranking and the graphic method. Therefore, in order to reduce costs and ensure effective motivation of management staff, it is proposed to identify reserves of motivational influence using the developed technology, which includes methods of factor analysis (identification of latent factors influencing work behavior), assessment of the level of job satisfaction (identification of positions that lag behind the standard) and ranking (arrangement of reserves by degree of influence). The list of motivation factors includes 16 indicators: organizational structuring of work; professional development, acquisition of new knowledge and skills; working conditions; financial incentive (salary and bonuses); power and influence; nature of relations with colleagues; the possibility of success at work; the possibility of career growth; the opportunity to be informed about the company’s affairs, to take part in the resolution of cases; recognition and approval of work results; high level of responsibility; the possibility of creative and personal growth; confidence in the future, guarantee of employment, stability; the nature of the relationship with management; level of work control; transparent assessment of work. The application of the proposed technology at PJSC “Kharkivenergozbut” confirmed the possibility and necessity of its use for determining reserves of motivational influence, and therefore, reducing motivation costs, forming an effective mechanism for motivating management staff.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47789347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
DYNAMICS OF FORMATION OF TRANSITIONAL PRICES ON THE CHAIN OF SEQUENTIAL MARKETS: ANALYTICAL MODEL 序贯市场链上过渡价格形成的动力学:分析模型
Ekonomika rozvitku Pub Date : 2022-03-21 DOI: 10.57111/econ.21(1).2022.25-35
A. Voronin, I. Lebedeva, S. Lebedev
{"title":"DYNAMICS OF FORMATION OF TRANSITIONAL PRICES ON THE CHAIN OF SEQUENTIAL MARKETS: ANALYTICAL MODEL","authors":"A. Voronin, I. Lebedeva, S. Lebedev","doi":"10.57111/econ.21(1).2022.25-35","DOIUrl":"https://doi.org/10.57111/econ.21(1).2022.25-35","url":null,"abstract":"Although the problem of formation of market prices, determination of equilibrium prices within the model “Demand – Supply” is quite known and a great number of both theoretical works and works that summarize the results of observations are devoted to its research, this problem remains relevant, especially as to the dynamics of pricing processes and the stability of equilibrium prices in relation to changes in parameters that characterize the state of the system. Most studies addressing these issues focus on either a particular local market or the global market for some products in general. The purpose of this work is to build a mathematical model that would allow us to analyze general issues related to the formation of transitional prices in the finite N-dimensional chain of sequential markets in accordance with the scheme of market equilibrium. An analytical model is proposed that makes it possible to study the dynamics of prices in adjacent markets. Within this model, which is based on the determination of processes using a system of integral equations, it was assumed that the impact on the chain of sequential markets and the response to this impact are continuous over time. The dynamic aspect of the proposed pricing model in the vertical sequence of markets is the existence of an “after-effect”, which is described in an integral form by the delay distributed over time. The issues of adequacy of the model were examined, its internal coherence was studied, the correctness of the transition from the mathematical model of dynamics as a system of integral equations to the model in the form of a system of linear algebraic equations was substantiated. The conditions for the existence of the solution for this system of equations and the area of its stability are formulated. The mathematical model proposed in this paper allows for a qualitative analysis of the system states (by phase trajectories). Examples of numerical implementation of our analytical model for two and three sequential markets are given, equilibrium prices for each link of the chain of sequential markets are determined. Applying simulation modelling, the stability of the solution in relation to changes in such parameters of the model as the elasticity of demand and supply in the market under study and cross-elasticities in adjacent markets as well as the impact of these parameters on such dynamic indicators of the market system as the rate of attainment of equilibrium was examined.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46401726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PECULIARITIES OF A TEAM LEADER’S ROLE BEHAVIOUR 团队领导者角色行为的特殊性
Ekonomika rozvitku Pub Date : 2022-03-20 DOI: 10.57111/econ.21(1).2022.43-50
S. Holubiev, H. Bilokonenko, P. Homenko
{"title":"PECULIARITIES OF A TEAM LEADER’S ROLE BEHAVIOUR","authors":"S. Holubiev, H. Bilokonenko, P. Homenko","doi":"10.57111/econ.21(1).2022.43-50","DOIUrl":"https://doi.org/10.57111/econ.21(1).2022.43-50","url":null,"abstract":"The article deals with the problem of the distribution of roles in a team at work. The efficiency of the distribution of roles in the team ensures the efficiency of activities, reduces the conflict of interaction and increases the level of adaptability of the team to changes in the external environment. The main attention is paid to the team role of a leader, which determines the organization and peculiarities of the team. Therefore, the purpose of the study is to determine the problems of the distribution of team roles and the peculiarities of the leader’s role behaviour. The theories of the distribution of team roles proposed by such authors as R.M. Belbin, R. Schindler, and T. Bazarov were analyzed. Each of the theories was analyzed and their features, possibilities of use for the study of the leader’s roles and problems of application in practice were determined. The main problem is the difficulty with the distribution of team roles in functional divisions (mainly the same types of functions are performed) compared to project teams. By modeling the leader’s behaviour, the influence of his team role on the functioning of the division and the distribution of roles in it was determined. As a result, it was identified that the main problem of determining the distribution of roles in a functional division is a significant shift in the result towards the main type of its activity, which requires clarification or adaptation of the diagnostic apparatus. It is proposed to distinguish a social and labour role that combines functional (labour) and team (social), focusing only on the type of activity. The following types of social and labour roles are distinguished: executive, adaptive and creative. It is proposed to apply the same classification to the leader, which will allow his role to be considered inseparable from the roles of employees, which is especially important for functional divisions. This classification makes it possible to facilitate the process of diagnosing the predominant roles and determine the features of the basic functions of the division and the problems of the team’s activity.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45596435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
MONETARY TRAPS OF THE NEW MACROECONOMIC CONSENSUS: PROBLEMS OF STABILIZATION POLICY AFTER COVID-19 新宏观经济共识的货币陷阱:新冠疫情后的稳定政策问题
Ekonomika rozvitku Pub Date : 2022-03-15 DOI: 10.57111/econ.21(1).2022.17-24
N. Reznikova, O. Ivashchenko, N. Hrynchak, I. Dvornyk
{"title":"MONETARY TRAPS OF THE NEW MACROECONOMIC CONSENSUS: PROBLEMS OF STABILIZATION POLICY AFTER COVID-19","authors":"N. Reznikova, O. Ivashchenko, N. Hrynchak, I. Dvornyk","doi":"10.57111/econ.21(1).2022.17-24","DOIUrl":"https://doi.org/10.57111/econ.21(1).2022.17-24","url":null,"abstract":"The relevance of the study lies in the consideration of transmission channels through which the influence of monetary policy carried out by the governments and central banks of the United States, Japan and Germany was realized. The purpose of the article is to consider the phenomenon of the monetary trap as a special case of an unforeseen macroeconomic reaction to the stabilization anti-crisis policy pursued by the state, which is designed to stimulate economic activity and contribute to the growth of aggregate output. The article identified the potential of economic theory (with an emphasis on the New Macroeconomic Consensus) to illuminate the current practice of state stabilization policy, taking into account new historical challenges, as well as modeling the impact of monetary instruments of stabilization policy on the potential for economic recovery of the United States, Japan and Germany. To achieve the goal of the study, scientific and special research methods were used, namely: methods of analysis, abstraction and synthesis, induction and deduction, as well as a system-structural method; hypothetical-deductive method; idealization method; methods of economic and mathematical modeling. An analysis of the consequences of the state policy to counteract the downturn in the economic situation as a result of the COVID-19 pandemic made it possible to periodize it and establish that the stabilization measures at the first stage were mainly of a fiscal nature, while at the second stage they were focused on monetary containment of the volatility of commodity prices. A regression express analysis of the relationship between monetary incentives and changes in GDP and inflation in the United States, Japan, and Germany made it possible to establish that the influence of monetary impulses on price stability manifests itself over a longer period of time and depends on the influence of many factors, including price fluctuations, changes in nominal wages, exchange rate dynamics and expectations of economic agents.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45023548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
STUDY OF STRATEGIES FOR SUSTAINABLE PRODUCTION AND CONSUMPTION IN THE ECONOMIC CONDITIONS OF UKRAINE 乌克兰经济条件下的可持续生产和消费战略研究
Ekonomika rozvitku Pub Date : 2022-03-14 DOI: 10.57111/econ.21(1).2022.8-16
A. Ivashura, O. Protasenko, E. Mykhailova, O. Severinov
{"title":"STUDY OF STRATEGIES FOR SUSTAINABLE PRODUCTION AND CONSUMPTION IN THE ECONOMIC CONDITIONS OF UKRAINE","authors":"A. Ivashura, O. Protasenko, E. Mykhailova, O. Severinov","doi":"10.57111/econ.21(1).2022.8-16","DOIUrl":"https://doi.org/10.57111/econ.21(1).2022.8-16","url":null,"abstract":"Modern requirements for companies and consumers include the stability of financial performance amid increasing environmental attractiveness. Companies need to cover such seemingly diverse interests as profitability for owners, concern for staff, interest for partners and consumers, and actions for environmental protection. It is essential to consider the growing role of conscious consumption, which is a direct regulator of production activity. Today, this is especially important for Ukraine, considering its transition to sustainability and the implementation of sustainable development goals in the sphere of sustainable production and consumption. The aim is to formulate a strategy and recommendations for combining sustainable initiatives in production and consumption in the context of European integration processes in Ukraine. The research object is sustainability in production and consumption. The article proposes a strategy combining sustainable production and consumption into one cluster. It will allow sustainable initiatives are focused on systemic changes and essential areas of production and consumption. The work used the method “Sustainable value of the business”. This method includes detailed reporting on the sustainable development of production with relevant ratings and indices. It’s recommended for use in decision-making, investment management for business development, comparative analysis, and communication with stakeholders; it also provides a comprehensive view of the company’s impact on six standardized parameters. The result is a proposal to create an algorithm to combine sustainable production and consumption into one cluster. It will allow sustainable initiatives to focus on systemic changes in crucial production and consumption areas – energy, transport, housing, agriculture, and food. The practical value of the approach is in a strategy that includes measures stimulating environmental and socio-economic policy of production. It will allow moving from relative disunity of actions to technological standards. The proposed approach can be implemented in recommendations for improving programs on changing behavior from a gradual transition from individual consumers to broader initiatives to change the entire system – production and consumption.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44547059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Government expenditure and macroeconomic stability conundrum in Zimbabwe 津巴布韦政府支出与宏观经济稳定难题
Ekonomika rozvitku Pub Date : 2021-12-29 DOI: 10.21511/ed.20(2).2021.02
H. Maduku, Brian Tavonga Mazorodze
{"title":"Government expenditure and macroeconomic stability conundrum in Zimbabwe","authors":"H. Maduku, Brian Tavonga Mazorodze","doi":"10.21511/ed.20(2).2021.02","DOIUrl":"https://doi.org/10.21511/ed.20(2).2021.02","url":null,"abstract":"The objective of this paper was to explore the effect of government expenditure growth on macroeconomic stability in Zimbabwe. Public expenditure has grown over time but as per a priori expectations, other macroeconomic variables have not been forth coming. What the country has actually experienced is prolonged macroeconomic instability. The paper contributes to the body of literature in two ways, (1) by creating a macroeconomic instability index and (2) by being the first in the Zimbabwean context to explore this conundrum. To achieve the main objective of the paper, the study used a cointegrated vector error correction model (VECM) and Granger causality with data spanning 1981 to 2019. The study did not find a statistically significant relationship between government expenditure and macroeconomic stability as argued mostly by the Keynesians. However, according to a priori expectations, the relationship turned out to be rightly negative. To buttress the Cointegrated-VECM results, granger causality tests were also conducted where no causality was found from government spending to macroeconomic stability, and vice versa (causality running from instability to government spending). This paper recommends that, Zimbabwe’s policy makers may need to consider proactive government spending or policies, since that helps the economy to successfully avoid possible risks such as macroeconomic instability. When policies are proactive rather than reactive, that helps by seizing untapped opportunities, and the economy justly avoids consequences of reactive governance.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44011308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Fiscal issues of entities’ non-financial reporting 主体非财务报告的财务问题
Ekonomika rozvitku Pub Date : 2021-12-28 DOI: 10.21511/ed.20(2).2021.01
S. Vorobei
{"title":"Fiscal issues of entities’ non-financial reporting","authors":"S. Vorobei","doi":"10.21511/ed.20(2).2021.01","DOIUrl":"https://doi.org/10.21511/ed.20(2).2021.01","url":null,"abstract":"The article identifies areas for strengthening the information value of non-financial reporting data, in particular in terms of its fiscal issues. The author substantiates the issues of disclosure of data on the impact of uncertainty on the entities’ activities based on the results of the analysis of scientific publications and generally accepted international documents. It is proved that high-quality non-financial reporting can serve as one of the tools for attracting additional funding for eliminating the consequences of the COVID-19 pandemic. The article highlights the results of the analysis of non-financial reporting of state-owned enterprises to identify data on the impact of the COVID-19 pandemic on their activities and compliance with the list of sustainability reporting indicators defined in the document “Guidance on core indicators for entity reporting on contribution towards implementation of the Sustainable Development Goals”, developed by UNCTAD ISAR. The paper substantiates that non-financial reporting data can serves as one of the information sources for decision-making at the state level in terms of avoiding fiscal risks (management report, report on payments to government). The core research methods used in the article: bibliometric analysis; synthesis; observation.","PeriodicalId":33449,"journal":{"name":"Ekonomika rozvitku","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42813896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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