Patrick O. Eke, Kehinde A Adetiloye, Esther O Adegbite
The debate on development of the bond market as major channel of industrial finance is gaining traction in many African economies. The secondary arm of the market, aside from the liquidity window it provides for investors in the primary market, additionally creates information linkage by fostering capital formation for prospective investors and producers that require capital to meet their investment opportunities, assisting in the allocation and operational efficiency of the capital market. Except if the market remains thin, overtime, liquidity in the market becomes more visible in the economy’s financial architecture, as it ignites market dynamism in the financial services linkage with other sectors of the economy. Liquidity is a pre-requisite to deepening the bond market, conditioned on information availability to ease asset valuation. The rapidity and randomness of information is what actually distinguishes capital market functionality and efficiency (Wijst, 2013).
Silvo Dajčman, Alenka Kavkler, Peter Mikek, Dejan Romih
After the global financial crisis and the Great Recession, a large and growing body of literature has examined real business-financial cycle linkages. To this end, Claessens et al. (2012) examined a large database of business and financial stress periods, corroborating that financial crisis periods are often longer and deeper than economic recessions and tend to amplify and prolong the latter. Our research aims to contribute to an understanding of the financial stress-macroeconomy nexus by studying the spillovers of US (euro area) financial stress shocks and their macroeconomic effects (i.e. effects on industrial production, inflation and unemployment) into the euro area (USA). This paper asks whether these effects are contingent on the phase of the business cycle. Traditionally, domestic and international financial stress-business cycle linkages have been investigated within the linear modelling framework.
Alma Lucero Ortiz, José Carlos Rodríguez, Mario Gómez
In addition to economic factors, other cultural and political influences have been critical drivers of economic growth. Technology issues have begun to feature as a central component of the growth process (Helpman, 1998). For example, technological advances can contribute to humanity’s well-being by facilitating a dynamic change, thereby allowing humankind to perform more efficiently (OECD, 1998). The adoption of information technologies, communication infrastructure, and the Internet in multiple social and productive sectors offers tangible advantages to countries. This process has improved several aspects of societies, such as business, technology, education, and the global economy (Ejiaku, 2014). The importance of information and communication technologies (ICTs) as an asset to the economy’s growth has been highlighted (Schreyer, 2000). The way of doing business has been modified using ICTs through different processes and tools that allow companies to use Internet-based information technologies.
Wen Jun, Ihsan Jamil, Bushra Mughal, Junaid Waheed, Hadi Hussain
Human asset training and development increases the productivity and skills of workers (Saif et al., 2019). Globally, governments spend billions of dollars to promote the workforce, to enhance their country’s economy and innovation. Working women are the pillars of society and play a vital role in its development. The female workforce is the key to innovation, growth, and prosperity in modern societies. Globally, economists focus on the practical and theoretical side of how working women perform an active role within the workforce and how they positively contribute to growth and Innovation (Luci, 2009). Women first started participating in the workforce during the late 19th and early 20th century. Worldwide, owing to higher per capita economic growth, the demand for female participation in the labour force has been increasing and motivating the working women to participate in development and innovation activities.
Huchang Liao, Ruxue Ren, Jurgita Antucheviciene, Jonas Šaparauskas, Abdullah Al-Barakati
The constriction of global resources and the sustained growth of population bring resources pressure to society. At the same time, the problem of environmental pollution and ecological imbalance cannot be ignored. In 2008, the United Nations Environment Programme launched the “Green Economy” initiative to integrate the concept of green and sustainable development into economic development. In this context, resource conservation, environmental protection and sustainable development are the best choices in this era. The construction industry is the pillar industry of Chinese economy. It is important for the construction industry to implement sustainable development. Faced with the pressure of resources and higher environmental requirements, green supply chain is an important means to enhance the environmental friendliness of construction industry and realize the rapid development of enterprises (Beamon, 1999; Ansari & Kant, 2017).
Jan Čapek, Miloslav Hub
The ubiquitous Internet connectivity has led to the introduction of an ever-increasing list of diverse online services ranging from financial transactions to online gaming and the other e-commerce purposes. For example, with cloud computing on the rise, geographically distant employees of organizations are able to access and share sensitive organizational resources online. The mentioned trend has increased the amount of user authentication processes. The aim of authentication is to decide whether a subject in question is in fact the subject that he claims to be. As an example can be mentioned traditional authentication, when end users authenticate themselves on computers by using the pair of username and password. In the past, many sophisticated authentication methods were developed. Generally, they can by divided to the three basic types of authentication depending on what kind of identification feature is used: authentication by knowledge, authentication by ownership of something, and authentication by biometrics. Each of these ways has its advantages and disadvantages.
Ch. Mahmood Anwar
Nowadays when businesses are facing intense rivalries, it is worthwhile for business organizations to recruit and retain workforce by adopting successful strategies to gain or sustain competitive advantage. Literature indicates that many factors (e.g., economic, financial, legal, structural, technical, procedural, and social) play an important role in determining organizational success (Pourhanifeh & Mazdeh, 2016). Moreover, literature also highlights the importance of workforce which is considered as an essential element for organizations to outperform. Riaz et al. (2018) mentioned that currently organizations are putting more efforts to explore employees’ innovative behaviour in order to obtain and sustain edge over competitors. Farid et al. (2017) highlighted that majority of the studies investigating innovative behaviour of employees were conducted at organizational level. They realized the need to conduct studies exploring innovativeness of employees at individual level.
Gabriela Trnková, Zdeňka Žáková Kroupová
The evaluation of the competitiveness of different agriculture sectors has, traditionally, been based on the measurement of technical efficiency. We focus on the dairy sector because the EU dairy sector is one of the pivotal agricultural sectors in the EU. The dairy sector currently faces several challenges arising from growing EU and global demand, price volatility, fodder crisis as a result of climate change and the fact that dairy farms are highly specialized, which on the one hand may be an advantage, on the other hand a threat due to higher vulnerability to income shocks. Milk production is carried out on mixed farms or specialized farms. In 2012, the share of the sector covered by specialized farms in the FADN, on which this analysis is based, is more than 80% in the EU-15 (EU members until the 2004 enlargement) and around 50% in the other member states. There are big differences in coverage among EU countries: only 17% of milk production in Slovakia and 19% in the Czech Republic, but full production in Ireland and Finland.
Lucie Meixnerová, Michal Krajňák
The minimum wage institute was established at the turn of the 19th and 20th century in the Anglo-Saxon countries. Its purpose was to ensure the protection of the workforce. The minimum wage ensures that the labour market wage cannot fall below the determined level, which takes the form in accordance with the economic and
political conditions of the country concerned (Dube et al., 2010). The determined level of the minimum wage results either from the tripartite act, which is made up of representatives of government, employers and trade unions or is enacted in relation to a percentage of the average wage level. Lopresti and Mumford (2016) mention that setting a minimum wage is a very complex problem, as its value is related to the price of labour that affects employers’ competitiveness. The minimum wage affects not only the part of the employer but also the employee, as employees want to receive fair remuneration for their work that will ensure them the required standard of living.
Pavla Jindrová, Viera Labudová
The World Health Organisation (WHO, 1946) defines health as ‘a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity’. Good health is not only of value to the individual as a major determinant of quality of life, well-being and social participation, but it also contributes to general social and economic growth. Good health is a key aspect of people’s well-being and enhances opportunities to participate in the labour market and to benefit from economic and employment growth. People with poor physical or mental health are less likely to work and more likely to be unemployed than people in better health. The relationship also works the other way around: people with higher level of education and higher income tend to be in better health and live longer than those with lower level of education and income (OECD, 2015).
Once entering the European Union, the Czech Republic as well as at present six other countries which are not currently members of the EMU committed to accept common currency – the euro. For example, Sweden accessed in 1995, the Czech Republic in 2004 and these two countries are still using their national currencies. By coincidence, these two countries use for payments their crowns – Czech koruna, respectively Swedish kronor. What is more, in case of these two countries, a date of EMU accession has not been set yet. In fact, due to several major unfortunately rather negative, economic events that have taken place over the last decade (i.e. financial crisis, debt crisis), and due to several ongoing economic problems of the Eurozone (e.g. significant public debt burden for Greece or Italy; the budgetary problems of Italy and, to some extent, France; esponsibility for indebtedness of national economies, etc), the relevant EU institutions do not even put pressure on countries still using their national currencies in order to fulfil the commitment of euro adoption.
Elena Kuzmenko, Luboš Smutka, Wadim Strielkowski, Justas Štreimikis, Dalia Štreimikienė
In general, sugar markets are among the fastest developing markets in the world (Huang & Xiong, 2020). The significant global market liberalization resulted in the fast growth of supply and stocks (Zuckerindustrie, 2018). At the same time, continuous changes in consumption patterns are affecting the global demand for sugar and sugar products (Muhammad et al., 2019). On the other hand, global sugar market is still influenced by the existing protectionists measures (see Solomon, 2014). It is of note that protectionist policies are applied in sugar markets by both developed and developing countries (Haley, 2016). Eventually, global sugar market appears to be suffering because of high-applied tariffs, limited tariff quotas and production subsidies (da Costa et al., 2015). As a result, this is reflected in price transmission and significant sugar price differences existing among individual regions in the world. Another specific feature of global sugar market is its notable price fluctuation which is a result of speculative trade activities.
Nicolae Istudor, Vasile Dinu, Emilia Gogu, Elena-Maria Prada, Irina-Elena Petrescu
The migration phenomenon is complex and difficult to fully understand and summarize. From the perspective of human migration there are numerous studies that have tried to systematize the reasons of migration (Parkins, 2011; Faist, 2011; O’Reilly, 2013; Wickramasinghe & Wimalaratana, 2016). One of the main components of migration is labour migration. Most studies have dedicated an important part of literature to labour migration and many of the migrationist theories have revolved around this aspect: neo-classical theory, New Economics of Labour Migration (also known as NELM), Dual Labour Market Theory (Wickramasinghe & Wimalaratana, 2016). This paper explores the determinants of migration from the perspective of the sustainable development goals (SDG’s) that are related to education, decent work and economic growth.