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New Articles – Economics


FACTORS AFFECTING THE COST OF SERVICE TRADE: EMPIRICAL EVIDENCE FROM CHINA AND THE EUROPEAN UNION

Ji Chen, Qiang Fang, Si Liu, Tomas Balezentis, Chonghui Zhang

Trade promotes economic (Drelich-Skulska & Domiter, 2018; Skulski, 2018; Bobowski, 2018), social (Radukic et al., 2019) and environmental (Munir & Ameer, 2018; Tao et al., 2017) interactions. The conceptual category of service trade has two different interpretations, broad and narrow. In a narrow sense, trade in services refers to activities in which a country meets the specific needs of other countries in a way that provides direct services and is paid in the course of the transaction. In the broad service trade, it includes both tangible activities and various intangible activities that complete the transaction without direct contact between the service provider and the user. Unless otherwise stated, trade in services usually refers to concepts in a broad perspective.
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GREEN GDP: AN ANALYSES FOR DEVELOPING AND DEVELOPED COUNTRIES

Saša Stjepanović, Daniel Tomić, Marinko Škare

In the push for more sustainable and greener progress, faster economic growth is no longer a priority. Is this true? There is a broad agreement that global society should strive for a higher standard of human wellbeing that is equitably shared and sustainable. Motivations for such plight are numerous; from economic (GDP measure is dangerously inadequate measure of quality of life since it counts what we produce and consume, but ignores social costs, environmental outcomes and income inequality), ecological (public is getting increasingly concerned with depleted natural resources and polluted environment, and other ecological issues), philosophical (human appetites and the population growth render non-market wellbeing measures to confront it with the society’s material standard of living), political (the concept of so-called green growth is generating diversity in positions, from enthusiastic to cautious, for it can be an opportunity, but also a risk that disfavours one country on international level) to even methodological questions (the lack of recognized methodological principles that would be the basis for reliable statistical data, thus an accurate accounting and valuation system of economic growth and development).
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