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Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

Volume 62 (2017): Edition 2 (August 2017)

Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

5 Articles
Accès libre

The Role of EU Innovation Policies in the Sustainable Development of the Energy Sector

Publié en ligne: 23 Sep 2017
Pages: 3 - 19

Résumé

Abstract

In the present conditions when the demographic pressure upon the environment is higher than ever, the humanity faces the challenge of sustainability. Namely the sustainability of human activities is important and nothing can assure it better than sustainable energy supplies. The European Union is the leading global power in terms of adjusting its policies to increase innovation to assure a sustainable growth of its energy sector as a key to an advanced economic system. The present research focuses on the impact of European Union policies on the sustainable development of its energy sector by analyzing quantitatively and qualitatively various indicators intended to offer a throughout insight. The results obtained focus on the identification of the main innovation paradigms; the description of the main modern environmental challenges, especially in the energy domain; the determination of the relation between innovation and energy sustainability, and its analysis at the level of European Union.

Mots clés

  • sustainable economic development
  • renewable energy
  • greenhouse gas emissions
  • recycling
  • energy efficiency
  • R&D expenditure

JEL Classification

  • H50
  • Q20
  • Q40
  • Q50
Accès libre

The Effect of Exchange Rate Movements and Economic Growth on Job Creation

Publié en ligne: 23 Sep 2017
Pages: 20 - 41

Résumé

Abstract

Job creation is at the centre of economic development and remains a source of sustenance for social and human relations. The creation of a job-enabling economic environment is imperative in promoting social and economic cohesiveness in the macro and microeconomic environment. Any shocks to the economy, particularly those of exchange rate shocks and changes in economic growth, may negatively affect the labour market and job creation. This study made use of quarterly observations, from the first quarter of 1995 to the fourth quarter of 2015, to investigate the effect of the real exchange rate and economic growth on South Africa’s employment status. South Africa, a developing country, was selected as a case study due to its high unemployment rate that is still increasing. The Vector Autoregressive (VAR) model and multivariate co-integration techniques were used in assessing the impact and responsiveness of employment to the real exchange rate and real economic growth in South Africa. Findings of this study revealed that employment responds positively to economic growth and negatively to the real exchange rate in the long-run. The short-run displays a positive relationship between real economic growth and employment, while the relationship between employment and the real exchange rate is also negative. However, the effect of economic growth in creating jobs is not significant enough in stimulating job creation in South Africa, as indicated by results in variance decomposition. Movements in the exchange rate exerted a significant short and long-run negative effect on employment dynamics; implying that a depreciation of the rand against the U.S. dollar is associated with decrease in overall employment. Exchange rate stability is thus important for economic growth and job creation in South Africa. The study provided further recommendations on promoting job creation in South Africa and other developing countries.

Mots clés

  • Economic Growth (GDP)
  • Employment
  • Exchange Rate
  • Job Creation
  • South Africa

JEL Classification

  • E65
  • O11
  • O55
Accès libre

The Outcomes of the Romanian Educational System and Economic Indicators

Publié en ligne: 23 Sep 2017
Pages: 42 - 54

Résumé

Abstract

The paper highlights some important correlations between the outcomes of the Romanian educational system and certain key indicators concerning the Romanian economy. The indicators are selected on the basis of the logic correlations and considering the limits of available data. The time-lag models were used because the macroeconomic effects of the factorial indicators considered as determinants on dependent variables cannot be usually detected in the same year. The results allowed interesting discussions concerning the Romanian education system and its funding-related evolutions in the last decade.

Mots clés

  • outcomes of education
  • material and human efforts for education
  • macroeconomic effects

JEL Classification

  • I21
  • I28
  • O15
Accès libre

Competitive Condition of Sub-Saharan Africa Commercial Banks

Publié en ligne: 23 Sep 2017
Pages: 55 - 76

Résumé

Abstract

This study assesses the competitive environment and the determinants of the Sub-Saharan Africa commercial banking sectors. We used the Lerner index that is generally acknowledged as the best at estimating the bank level competition and the Generalised Method of Moments (GMM) to study 440 commercial banks for the period 2006 to 2015. We found a monopolistic competitive banking market. We also observed that competition is driven by the level of bank capital including some bank specific variables. Hence, we concluded that the banking market of the SSA region is contestable and competitive. As such, we recommend, among other things, that policy makers should device measures to ensure an ongoing competitive banking environment while stimulating other economic variables to complement this feat.

Mots clés

  • competitive condition
  • Sub-Saharan Africa
  • commercial banks
  • Lerner index
  • Generalised Method of Moments

JEL Classification

  • G21
  • L10
Accès libre

The Impact of the Problems Faced by Online Customers on Ecommerce

Publié en ligne: 23 Sep 2017
Pages: 77 - 88

Résumé

Abstract

The purpose of this study is to identify the behavior of customers in the online environment. We analyzed the evolution, characteristics, advantages and disadvantages of this type of commerce, and its implications on the consumers. In order to identify the customers’ behavior online, we selected three variables which are characterized by time intervals of the latest online order, and six variables which analyze the main problems faced by consumers of goods/services bought online (a long shipping time, damaged products, non-compliant products, fraud related issues, underperforming complaint system, technical issues, lack of customer and legal aspects). Online commerce is less developed in the Czech Republic, Romania, Poland, Lithuania, Ireland, Bulgaria, Estonia, Slovenia and Norway. But, the advantages of ecommerce weigh more for the consumer than the problems they face, for example: online shoppers will continue to make online purchases even if they have experienced delays in delivering goods/services, damaged products, online fraud, technical problems or difficulties in finding information about the warranty of goods/services.

Mots clés

  • e-commerce
  • unsatisfied customers
  • European states

JEL Classification

  • E20
  • F10
5 Articles
Accès libre

The Role of EU Innovation Policies in the Sustainable Development of the Energy Sector

Publié en ligne: 23 Sep 2017
Pages: 3 - 19

Résumé

Abstract

In the present conditions when the demographic pressure upon the environment is higher than ever, the humanity faces the challenge of sustainability. Namely the sustainability of human activities is important and nothing can assure it better than sustainable energy supplies. The European Union is the leading global power in terms of adjusting its policies to increase innovation to assure a sustainable growth of its energy sector as a key to an advanced economic system. The present research focuses on the impact of European Union policies on the sustainable development of its energy sector by analyzing quantitatively and qualitatively various indicators intended to offer a throughout insight. The results obtained focus on the identification of the main innovation paradigms; the description of the main modern environmental challenges, especially in the energy domain; the determination of the relation between innovation and energy sustainability, and its analysis at the level of European Union.

Mots clés

  • sustainable economic development
  • renewable energy
  • greenhouse gas emissions
  • recycling
  • energy efficiency
  • R&D expenditure

JEL Classification

  • H50
  • Q20
  • Q40
  • Q50
Accès libre

The Effect of Exchange Rate Movements and Economic Growth on Job Creation

Publié en ligne: 23 Sep 2017
Pages: 20 - 41

Résumé

Abstract

Job creation is at the centre of economic development and remains a source of sustenance for social and human relations. The creation of a job-enabling economic environment is imperative in promoting social and economic cohesiveness in the macro and microeconomic environment. Any shocks to the economy, particularly those of exchange rate shocks and changes in economic growth, may negatively affect the labour market and job creation. This study made use of quarterly observations, from the first quarter of 1995 to the fourth quarter of 2015, to investigate the effect of the real exchange rate and economic growth on South Africa’s employment status. South Africa, a developing country, was selected as a case study due to its high unemployment rate that is still increasing. The Vector Autoregressive (VAR) model and multivariate co-integration techniques were used in assessing the impact and responsiveness of employment to the real exchange rate and real economic growth in South Africa. Findings of this study revealed that employment responds positively to economic growth and negatively to the real exchange rate in the long-run. The short-run displays a positive relationship between real economic growth and employment, while the relationship between employment and the real exchange rate is also negative. However, the effect of economic growth in creating jobs is not significant enough in stimulating job creation in South Africa, as indicated by results in variance decomposition. Movements in the exchange rate exerted a significant short and long-run negative effect on employment dynamics; implying that a depreciation of the rand against the U.S. dollar is associated with decrease in overall employment. Exchange rate stability is thus important for economic growth and job creation in South Africa. The study provided further recommendations on promoting job creation in South Africa and other developing countries.

Mots clés

  • Economic Growth (GDP)
  • Employment
  • Exchange Rate
  • Job Creation
  • South Africa

JEL Classification

  • E65
  • O11
  • O55
Accès libre

The Outcomes of the Romanian Educational System and Economic Indicators

Publié en ligne: 23 Sep 2017
Pages: 42 - 54

Résumé

Abstract

The paper highlights some important correlations between the outcomes of the Romanian educational system and certain key indicators concerning the Romanian economy. The indicators are selected on the basis of the logic correlations and considering the limits of available data. The time-lag models were used because the macroeconomic effects of the factorial indicators considered as determinants on dependent variables cannot be usually detected in the same year. The results allowed interesting discussions concerning the Romanian education system and its funding-related evolutions in the last decade.

Mots clés

  • outcomes of education
  • material and human efforts for education
  • macroeconomic effects

JEL Classification

  • I21
  • I28
  • O15
Accès libre

Competitive Condition of Sub-Saharan Africa Commercial Banks

Publié en ligne: 23 Sep 2017
Pages: 55 - 76

Résumé

Abstract

This study assesses the competitive environment and the determinants of the Sub-Saharan Africa commercial banking sectors. We used the Lerner index that is generally acknowledged as the best at estimating the bank level competition and the Generalised Method of Moments (GMM) to study 440 commercial banks for the period 2006 to 2015. We found a monopolistic competitive banking market. We also observed that competition is driven by the level of bank capital including some bank specific variables. Hence, we concluded that the banking market of the SSA region is contestable and competitive. As such, we recommend, among other things, that policy makers should device measures to ensure an ongoing competitive banking environment while stimulating other economic variables to complement this feat.

Mots clés

  • competitive condition
  • Sub-Saharan Africa
  • commercial banks
  • Lerner index
  • Generalised Method of Moments

JEL Classification

  • G21
  • L10
Accès libre

The Impact of the Problems Faced by Online Customers on Ecommerce

Publié en ligne: 23 Sep 2017
Pages: 77 - 88

Résumé

Abstract

The purpose of this study is to identify the behavior of customers in the online environment. We analyzed the evolution, characteristics, advantages and disadvantages of this type of commerce, and its implications on the consumers. In order to identify the customers’ behavior online, we selected three variables which are characterized by time intervals of the latest online order, and six variables which analyze the main problems faced by consumers of goods/services bought online (a long shipping time, damaged products, non-compliant products, fraud related issues, underperforming complaint system, technical issues, lack of customer and legal aspects). Online commerce is less developed in the Czech Republic, Romania, Poland, Lithuania, Ireland, Bulgaria, Estonia, Slovenia and Norway. But, the advantages of ecommerce weigh more for the consumer than the problems they face, for example: online shoppers will continue to make online purchases even if they have experienced delays in delivering goods/services, damaged products, online fraud, technical problems or difficulties in finding information about the warranty of goods/services.

Mots clés

  • e-commerce
  • unsatisfied customers
  • European states

JEL Classification

  • E20
  • F10

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