{"title":"Some Efficiency Aspects of Monopolistic Competition: Innovation, Variety and Transaction Costs","authors":"T. Todorova","doi":"10.14505/tpref.v12.2(24).02","DOIUrl":"https://doi.org/10.14505/tpref.v12.2(24).02","url":null,"abstract":"We stress some efficiency aspects of monopolistic competition justifying it on account of its tendency to innovate and the questionable excess capacity paradigm. Some further efficiency aspects revealed are product variety and transaction cost savings. We view the monopolistically competitive firm as an essential source of technological innovation, product variety and cost economies. While perfect competition is universally considered a benchmark and a social optimum, we consider it a strongly unrealistic theoretical setup where the monopolistically, rather than the perfectly, competitive firm turns out to be the true type of competition and social optimum in the real world of positive transaction costs. The monopolistically competitive firm not only offers product variety and innovation but is the optimal institutional arrangement under positive transaction costs. \u0000 ","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115421947","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}
{"title":"A MODEL WITH KNOWLEDGE EXTERNALITIES AND EDUCATIONAL POLICY","authors":"Aleksandar Vasilev","doi":"10.14505//TPREF.V12.1(23).05","DOIUrl":"https://doi.org/10.14505//TPREF.V12.1(23).05","url":null,"abstract":"We utilize a standard endogenous-growth model with knowledge spillovers (the “k-K” model). We characterize the optimal Balanced Growth Path (BGP), and compare it to path under market competition. In the presence of externalities, markets fail. One way to restore efficiency is to subsidize knowledge accumulation, and finance the subsidy by taxing final consumption.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132069830","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}
{"title":"ESTIMATING THE RELATIONSHIP BETWEEN GOVERNANCE, ECONOMIC GROWTH, INEQUALITY AND POVERTY","authors":"Mohammed Touitou","doi":"10.14505//TPREF.V12.1(23).03","DOIUrl":"https://doi.org/10.14505//TPREF.V12.1(23).03","url":null,"abstract":"The main purpose of this paper is to estimate the relationship between governance, economic growth, inequality and poverty for 81 countries for the period 2000-2016. We divided the countries into three groups, low-income countries, lower-middle-income countries and upper-middle-income countries. To answer our research question, we use a structural model with simultaneous equations on Panel data. Our results show that the positive or negative impact of governance on the growth-inequality-poverty triangle changes depending on the dimension of governance taken into account and the sample being studied. Given the negative relationship between inequality and growth, democracy should a second time positively affect economic growth through the reduction of inequalities.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122019551","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}
{"title":"IMPROVEMENT OF METHODICAL APPROACHES TO THE MANAGEMENT OF THE SYSTEM OF ECONOMIC SECURITY OF BAKERY INDUSTRY ENTERPRISES","authors":"Valeriia Bondarenko-Berehovych","doi":"10.14505//TPREF.V12.1(23).04","DOIUrl":"https://doi.org/10.14505//TPREF.V12.1(23).04","url":null,"abstract":"The article investigates the methods of improving the methodological approaches to the management of the economic security system of the bakery industry. It was found that the creation of such a system requires the intensification of scientific and practical research to improve the theoretical and methodological foundations of economic security systems that would take into account general and specific problems of the industry and were effective in both short and long term. The approaches to the definition of the concept of \"economic security of the enterprise\" are generalized and systematized and the author's definition of this category is given. The guidelines of the research within the system approach are determined. The components of the economic security management system of the bakery enterprises and their correlation are investigated and substantiated. A system of economic security management of enterprises of the bakery industry has been developed, which takes into account theoretical and methodological studies of systems theory and systems analysis in the field of economic security. Within the framework of the developed system, its main elements are studied and a conclusion is made about the peculiarities of its implementation and functioning.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122017106","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}
{"title":"COVID-19: BEHAVIOR OF PUBLIC FINANCES TOOLS IN DEMOCRATIC REPUBLIC OF CONGO. ECONOMIC SITUATION AND PERSPECTIVES","authors":"Yannick LUBONGO MBILU","doi":"10.14505/tpref.v12.1(23).07","DOIUrl":"https://doi.org/10.14505/tpref.v12.1(23).07","url":null,"abstract":"Observation of economic life over a long period portrays a succession of phases in which the economic activity is somehow important or decreasing. This succession can either be caused by an endogenous or exogenous sector shock. \u0000This health shock, due to Covid-19, has compromised the macroeconomic stability as well as the economic growth in DRC, even across the world, according to their impact. Additionally, it is the cause of a reduction of the economic activity and has resulted in a huge instability of the global supply and demand. Congolese economy has not experienced satisfactory outcomes, thereby, a conjectural analysis of public finance macroeconomic aggregates enabled to comprehend this situation. \u0000Regarding the hypothesis’s verification, there are variables of income and outlay of independent samples, variables whose variances and means are equal both in the presence or the absence of Covid-19. In the same way, other variables and means are considerably different one another.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121439393","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}
{"title":"AGE AND GENDER - SPECIFIC EXCESS MORTALITY DURING THE COVID-19 PANDEMIC IN HUNGARY IN 2020","authors":"Csaba G. Tóth","doi":"10.14505/tpref.v12.1(23).06","DOIUrl":"https://doi.org/10.14505/tpref.v12.1(23).06","url":null,"abstract":"The excess mortality indicator is able to capture how an epidemic affects a country’s mortality processes, taking into account direct and indirect, as well as possible effects in different directions. From the point of view of mortality processes in Hungary, the main feature of the first months of 2020 was that seasonal flu claimed fewer victims than in previous years, for this reason we examined last year’s excess mortality for the period between weeks 12 and 52 related to the coronavirus epidemic using a stochastic mathematical model. According to our calculations, excess mortality related to the coronavirus epidemic in Hungary was 13,700 people in 2020, which means a 14% excess in the period under review. Eighty-six percent of those who died were over the age of 65, 10 percent were between the ages of 50 and 64, and the proportion of those aged 49 or younger was 4 percent. In almost all age groups, the excess mortality rate was nearly twice as high for men as for women. According to our calculations, excess mortality was roughly one and a half times the number of victims claimed by the epidemic in 2020 according to official statistics, and we also found a significant difference between the time course of the two indicators.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126238466","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}
{"title":"IS SLOW ECONOMIC GROWTH ORIGINATING FROM THE TOTAL EXTERNAL DEBT STOCK IN DEMOCRATIC REPUBLIC OF CONGO?","authors":"Olivier Munene Mupenda","doi":"10.14505//TPREF.V12.1(23).01","DOIUrl":"https://doi.org/10.14505//TPREF.V12.1(23).01","url":null,"abstract":"Unsustainable debt reduces the productivity of a country. Ten years following its “1960 independence”, the Democratic Republic of Congo adopted policies that resorted to external finances while the world was at the peak of the 1970 Petro-dollar crisis. The following decade, in the 1980’s, with the fall in price of raw materials, the Democratic Republic of Congo was trapped in an unsustainable debt burden cycle that stagnated its economy and according to the World Bank data, reduced its GDP per Capita. The rise of active armed conflicts in the 1990’s and political unrest during the 2000's added pressures to resort to further financial support from external creditors, facilitating corruption and poverty in the process. \u0000The inability to service debts leads to economic consequences. One of these consequences is reduction in productivity. With empirical evidence, our analysis will be looking at the Congolese productivity from independence in 1960 to the historical democratic transfers of power in late 2018 to understand the effects of external debts in its economic growth.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114974980","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}
{"title":"CONCEPT OF EVALUATION OF CREDITWORTHINESS OF ENTERPRISES IN CONDITIONS OF ECONOMIC CYCLE","authors":"V. Usyk","doi":"10.14505//TPREF.V11.2(22).06","DOIUrl":"https://doi.org/10.14505//TPREF.V11.2(22).06","url":null,"abstract":"The economic content and components of creditworthiness of enterprises are substantiated. An in-depth critical analysis and structuring of the main tools and methods for assessing the creditworthiness of enterprises in the current conditions of transformation of the world market. The classification of the main factors influencing the formation of creditworthiness of enterprises and should be taken into account in the formation of strategic guidelines for each enterprise is proposed. The main criteria for assessing the creditworthiness of enterprises depending on the type and specificity of economic activity based on the analysis of credit risk models are substantiated. The concept of assessing the creditworthiness of enterprises in modern conditions of economic cyclicality, taking into account the characteristics of the industry, volume and specifics of activities. A method of assessing the creditworthiness of enterprises by type of economic activity using multidimensional discriminant analysis taking into account the influence of various factors, both internal and external environment, which, unlike existing ones, will quickly determine the financial condition and determine and take into account the impact of various factors. The developed concept of assessing the creditworthiness of enterprises through multidimensional discriminant analysis will ensure effective management decisions and optimize the financial condition.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132018042","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}
Azam Jan, Shakirullah Shakirullah, S. Naz, Owais Khan, Abdul Qayyum Khan
{"title":"MARSHAL MCLUHAN’S TECHNOLOGICAL DETERMINISM THEORY IN THE ARENA OF SOCIAL MEDIA","authors":"Azam Jan, Shakirullah Shakirullah, S. Naz, Owais Khan, Abdul Qayyum Khan","doi":"10.14505//TPREF.V11.2(22).07","DOIUrl":"https://doi.org/10.14505//TPREF.V11.2(22).07","url":null,"abstract":"McLuhan (1964) proposed that mediated technologies ensure culture diffusion in a society which in turn helps change human behavior. He states, \"We shape our tools, and they in turn shape us.\" Most of the scholars in the field talked about radio and television etc. as mediated technologies but McLuhan perceived a bit differently by including numbers, games and money as mediated. Regarding numbers, he held that every individual in a theater enjoys all those others present. This creates a mass mind which let elites to establish a profile of the crowd. The phenomenon in turn homogenizes the masses that are easily influenced. McLuhan stated that games are media of interpersonal communication and extension of human social self. Games according to him “allow for people to simultaneously participate in an activity that is fun and that reflect who they are.” To him money is power that facilitates access. It is money that empowers people to travel the world and serve as transmitter of information, knowledge and culture. These mediated tools according to McLuhan turn the world into a global village. \u0000The media of social networking exactly play the same role attributed by McLuhan with number, game, money along with traditional media of radio and television. Social Media (SM) users make use of identical applications and undertake almost similar activities that turn them into a homogeneous mass. Likewise, online profiles reflect identity features and most of them consume SM to have fun. SM connects people across cultures, religions, and boundaries and let them feel members of a single community. SM has not only converted the world into a small village but also shaped every aspect of human social life.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117034551","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}
{"title":"AGGREGATION WITH A LABOUR-SUPPLY DECISION AND HABITS IN CONSUMPTION","authors":"Aleksandar Vasilev","doi":"10.14505/TPREF.V11.2(22).05","DOIUrl":"https://doi.org/10.14505/TPREF.V11.2(22).05","url":null,"abstract":"The objective of this paper is to study the problem of a discrete labour supply decision in an artificial economy where the households feature habits in consumption. We demonstrate how lotteries a la Rogerson (1988) can be used to make consumption choices into convex sets, and then produce an equivalent aggregate household with convex labour supply. The presence of consumption habits does not affect the main results of the paper. As in Hansen (1985) and Rogerson (1988) and no consumption habits, with a discrete labor supply decision at individual level, the elasticity of hours worked at the aggregate level increases from one to an infinitely large value.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133269540","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}