Economic Annals最新文献_第8页

The effect of increasing the minimum wage on poverty and inequality in Bosnia and Herzegovina 提高最低工资对波斯尼亚-黑塞哥维那贫穷和不平等的影响

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2026121k

A. Kurta, N. Oruč

{"title":"The effect of increasing the minimum wage on poverty and inequality in Bosnia and Herzegovina","authors":"A. Kurta, N. Oruč","doi":"10.2298/eka2026121k","DOIUrl":"https://doi.org/10.2298/eka2026121k","url":null,"abstract":"The minimum wage, as a labour market policy with distributive impact, is widely debated in Bosnia and Herzegovina (BiH). This paper estimates the effect of increasing the minimum wage on poverty and income inequality in BiH, providing the first empirical evidence on the minimum wage in the country. Using data from the Household Budget Survey (HBS) for 2015, the effects of four changes (two per entity) in the minimum wage were simulated using the microsimulation model BiHMOD. First, the effect of the latest changes implemented in the previous period was calculated using the previous minimum wage level as the baseline. Second, the effect of recently proposed changes was simulated using the current level as the baseline. The findings suggest that increasing the minimum wage in BiH has a significant positive effect on poverty reduction, but a limited effect on the level of income inequality. The estimated effects were also calculated for different types of households. The results suggest that a single policy may have unexpected effects if other policies are not taken into account and harmonized accordingly. The findings provide empirical evidence for decision-makers and future policy debate, which is generally missing for this and similar policy issues in BiH.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476132","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

Digital technologies and the financial performance of female SMES in Serbia: The mediating role of innovation 数字技术与塞尔维亚女性中小企业财务绩效:创新的中介作用

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2024053p

Sanja Popović-Pantić, Dusica Semencenko, N. Vasilić

{"title":"Digital technologies and the financial performance of female SMES in Serbia: The mediating role of innovation","authors":"Sanja Popović-Pantić, Dusica Semencenko, N. Vasilić","doi":"10.2298/eka2024053p","DOIUrl":"https://doi.org/10.2298/eka2024053p","url":null,"abstract":"Digital technologies that create innovation have the capacity to leverage economic development. The integration of digital technologies in daily operations has become a key success factor in sustainable development, market positioning, and advancement. This is particulary challenging for female companies in developing countries, which face numerous biases on their entrepreneurial path, including in innovation. This specific group of entrepreneurs faces additional barriers in implementing digital technologies and digital transformation, which are considered part of their innovation capacity. However, some companies perform well according to financial parameters, regardless of the level of digitization and innovation potential. This research paper explores the correlation between financial performance and the innovative implementation of digital technologies. The main assumption in this research is that companies that do not use digital technologies to innovate can not expect to improve their financial performance. We focus on the impact of digital technology on the financial performance of female companies. We also consider the indirect impact of digital technology use on financial performance, with product innovation as the mediator variable. The sample consists of 46 female companies. The results of the analysis confirm the hypotheses that digital technology has no direct influence on financial performance, and that product innovation mediates the relationship between digital technology and financial performance.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476419","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: 11

“Infant” economies in South-Eastern Europe 东南欧的“新生”经济体

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2026045z

G. Zarotiadis

{"title":"“Infant” economies in South-Eastern Europe","authors":"G. Zarotiadis","doi":"10.2298/eka2026045z","DOIUrl":"https://doi.org/10.2298/eka2026045z","url":null,"abstract":"Transition economies have responded quite differently to similar procedures and foreign economic and sociopolitical interventions. This is partly because of the exogenous (from the economic perspective) features of each country. In the present paper we focus on the economic explanation. Following an introductory discussion of the stylized facts of the deepening segregation within the Central and Eastern European transition economies, we proceed with a general equilibrium model of imperfect competition (a la Dixit-Stiglitz). We introduce (1) more than one imperfectly competitive manufacturing sectors and (2) capital as the ?pseudo? production factor that provokes economies of scale. Based on the abstract theoretical model, we argue that the supposed automatic, selfbalancing process for closing cross-country disparities may not appear, even if the noneconomic factors are neutralized. This is because there is a possibility of experiencing a virtuous cycle of endogenously reinforced attraction of foreign accumulated capital. Economies that do not have the necessary features for this to happen because they start from a comparatively inferior level of development and/or due to a lack of preexisting strong manufacturing - ?infant economies? according to our proposed terminology - will experience an endogenously justified, flatter path of development and may not find it easy to catch up with others.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"65 1","pages":"45-71"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476469","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

The public-private investment nexus in India: Evidence from a policy simulation approach 印度公私投资关系:来自政策模拟方法的证据

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2024101b

S. Bhat, Javed Ahmad Bhat, Taufeeq Ajaz

引用次数: 0

Corrigendum: Correction to Zarkovic Rakic et al. (2019) 更正:对Zarkovic Rakic等人的更正(2019)

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2024129e

E. Editorial

引用次数: 0

An examination of the causality relationship between current and financial accounts in Turkey 对土耳其经常账户和金融账户之间因果关系的考察

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2024007k

Ö. Karahan, Olcay Çolak

{"title":"An examination of the causality relationship between current and financial accounts in Turkey","authors":"Ö. Karahan, Olcay Çolak","doi":"10.2298/eka2024007k","DOIUrl":"https://doi.org/10.2298/eka2024007k","url":null,"abstract":"* Corresponding author, Faculty of Economics and Administrative Sciences, Department of Economics, Bandirma Onyedi Eylul University, Turkey, e-mail: okarahan@bandirma.edu.tr. ** Co-author, Faculty of Economics and Administrative Sciences, Department of Economics, Usak University, Turkey, e-mail: olcay.colak@usak.edu.tr. JEL CLASSIFICATION: F32, F40, C22. ABSTRACT: In today’s economies, where commerce and the economy are strongly interrelated, the relationship between current account and financial account has become crucial. However, economists have not reached a consensus regarding the direction of the causality relationship between capital and current accounts. Our study aims to contribute to the literature by determining the direction of the causality relationship between current and financial accounts in Turkey, applying the Johansen Cointegration Test and the Vector Error Correction (VEC) model to quarterly data for 2002–2018. The empirical results show that the causality relationship in Turkey runs from the financial account to the current account. This means that capital inflows to Turkey have the potential to deteriorate the current account balance. Therefore, it is of crucial importance that Turkey implement policies to manage the financial account in order to provide a current account balance.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"29 1","pages":"7-28"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476301","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

Trade models in the European Union 欧盟的贸易模式

Economic Annals Pub Date : 2019-06-01 DOI: 10.2298/eka2235007g

Claudius Gräbner, Dennis Tamesberger, Philipp Heimberger, Timo Kapelari, Jakob Kapeller

{"title":"Trade models in the European Union","authors":"Claudius Gräbner, Dennis Tamesberger, Philipp Heimberger, Timo Kapelari, Jakob Kapeller","doi":"10.2298/eka2235007g","DOIUrl":"https://doi.org/10.2298/eka2235007g","url":null,"abstract":"By studying the factors underlying differences in trade performance across\u0000 European economies, this paper derives six different ?trade models? for 22\u0000 EU countries and explores their developmental and distributional dynamics.\u0000 We first introduce a typology of trade models by clustering countries on the\u0000 basis of four key dimensions of trade performance: endowments, technological\u0000 specialisation, labour market characteristics and regulatory requirements.\u0000 The resulting clusters comprise countries that base their export success on\u0000 similar trade models. Our results indicate the existence of six different\u0000 trade models: the ?primary goods model? (Latvia, Estonia), the ?finance\u0000 model? (Luxembourg), the ?flexible labour market model? (UK), the ?periphery\u0000 model? (Greece, Portugal, Spain, Italy, France), the ?industrial workbench\u0000 model? (Slovenia, Slovakia, Poland, Hungary, the Czech Republic), and the\u0000 ?hightech model? (Sweden, Denmark, Netherlands, Belgium, Ireland, Finland,\u0000 Germany and Austria). Subsequently, we provide a comparative analysis of the\u0000 economic development and trends in inequality across these trade models.\u0000 Inter alia, we observe a shrinking wage share and increasing personal income\u0000 inequality in most of them, yet find that the ?high-tech model? is an\u0000 exceptional case, being characterised by relatively stable economic\u0000 development and an institutional setting that managed to counteract rising\u0000 inequality.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42540163","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

The impact of fiscal consolidation and economic growth on debt: Evidence from India 财政整顿和经济增长对债务的影响:来自印度的证据

Economic Annals Pub Date : 2019-01-01 DOI: 10.2298/eka1922063c

Varun Chotia

{"title":"The impact of fiscal consolidation and economic growth on debt: Evidence from India","authors":"Varun Chotia","doi":"10.2298/eka1922063c","DOIUrl":"https://doi.org/10.2298/eka1922063c","url":null,"abstract":"This paper analyses the challenges debt reduction faces as a result of fiscal consolidation and the effect of growth on India?s debt ratio. Simulations are conducted based on India?s current revenue and debt levels and project different cases of fiscal tightening and their effect on changes in debt stock with respect to the change in GDP, i.e., changes in the debt ratio. The estimates for multipliers that are used in the Structural Vector Auto Regression (SVAR) model are obtained empirically by giving shocks to fiscal instruments such as expenditure and taxes. A non-technical approach to the SVAR methodology is used to analyse the dynamics of the studied framework by subjecting it to unexpected shocks. A more measured act of consolidation may be implemented in an attempt to normalise multiplier values in order to create an appropriate environment for reducing government spending. The drawbacks include the limitations of the SVAR methodology such as the orthogonality condition, which makes the entire analysis fairly restrictive. The framework used for the analysis is a modern approach towards understanding macroeconomic trends and variables in the context of the Indian economy and seeks to apply recently developed analytical tools.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68475517","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

A strategic approach to organisational entrepreneurship: Employees’ awareness of entrepreneurial strategy 组织创业的战略途径:员工的创业战略意识

Economic Annals Pub Date : 2019-01-01 DOI: 10.2298/eka1922117e

Jelena Erić-Nielsen, Veljko Marinković, J. Nikolić

{"title":"A strategic approach to organisational entrepreneurship: Employees’ awareness of entrepreneurial strategy","authors":"Jelena Erić-Nielsen, Veljko Marinković, J. Nikolić","doi":"10.2298/eka1922117e","DOIUrl":"https://doi.org/10.2298/eka1922117e","url":null,"abstract":"The purpose of the paper is to explore employees? awareness of the entrepreneurial strategy in an organisation. We argue that employee awareness of the clarity and flexibility of entrepreneurial strategy differs depending on gender, age, seniority, education, and working experience. We provide a theoretical overview explaining the interaction between performance-oriented strategic management and entrepreneurship, based on organisational innovation. Our study delineates the specifics of a strategic approach to organisational-level entrepreneurship, explaining in depth the integration of entrepreneurship and strategy. The data was collected from a total of 39 managers and 50 employees holding non-managerial positions in 19 Serbian companies. The results of the analysis show a statistically significant difference in employees? awareness of the clarity and flexibility of entrepreneurial strategy, depending on gender, level of education, and seniority. The research presents empirically and theoretically substantiated evidence regarding the necessity to make entrepreneurial strategy an integral part of corporate strategy and to make employees aware of the relevance of strategy in achieving long-term competitive advantage. Based on these considerations the results are critically evaluated their implications and limitations are discussed, and avenues for further research are recommended.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68475679","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

The effect of trading volumes on stock returns following large price moves 股价大幅波动后，交易量对股票收益的影响

Economic Annals Pub Date : 2019-01-01 DOI: 10.2298/EKA1920085K

A. Kudryavtsev

{"title":"The effect of trading volumes on stock returns following large price moves","authors":"A. Kudryavtsev","doi":"10.2298/EKA1920085K","DOIUrl":"https://doi.org/10.2298/EKA1920085K","url":null,"abstract":"* The author is from The Economics and Management Department, The Max Stern Yezreel Valley Academic College, Emek Yezreel 19300, Israel, andreyk@yvc.ac.il. JEL CLASSIFICATION: G11, G14, G19 ABSTRACT: The study analyses the correlation between abnormal trading volumes accompanying large stock price changes and subsequent stock price dynamics. Assuming that abnormal trading volume associated with a large price move may serve as an indication of the extent of the immediate stock price reaction to the underlying company-specific shock, I suggest that large price moves accompanied by relatively high (low) abnormal trading volumes may be followed by price reversals (drifts). Analysing a large sample of major daily stock price moves and defining the latter according to a number of alternative proxies, I document that both large price increases and decreases accompanied by high (low) abnormal trading volumes are followed by significant price reversals (drifts) on each of the next two trading days and over fiveand twenty-day intervals following the initial price move, the magnitude of the reversals (drifts) increasing over longer post-event windows. The effect remains significant after accounting for additional company-specific (size, CAPM beta, historical volatility) and event-specific (stock’s absolute return on the event day) factors, and is robust to different methods of calculating abnormal returns and to different sample filtering criteria.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68475840","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: 3