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The Impact of a Coronavirus Epidemic on China’s Public Debt Ratio Growth
151-159Views:272Public opinion in the economic profession is strongly preoccupied with the expected negative economic effects of the coronavirus epidemic. Among the consequences, special attention is paid to the increase in the gross debt of the states. Indeed, based on conventional economic knowledge, it is clear to everyone that the economic downturn and the increase in government sector expenditure will directly lead to a sharp rise in government debt. The study aims to predict an increase in China’s government debt ratio using a macroeconomic model. The study will quantify the rate of increase in China’s public debt based on four theoretically possible scenarios for the course of the coronavirus epidemic. I am aware that it is difficult to apply conventional economic knowledge to China’s state-capitalist system. This is explained by the fact that the theories of the socialist economic model do not apply to China either. At the same time, the functioning of China's economy is closer to that of market-based economies, but the country's structure as a whole cannot be integrated into this framework either. But models describing the economic development of developing national economies cannot be applied to the country either. Nonetheless, I attempt to use conventional economic economics to attempt to quantify the impact of the coronavirus epidemic on China’s sovereign debt ratio. China’s public debt growth rates calculated under different outbreak scenarios are different, but none show an increase that would call into question the financing of China’s public debt.
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The Dynamic Effect of Trade Openness, Debt, and Foreign Investment in Ghana’s Economy: An ARDL Bound Testing Approach
94-112Views:179The impact of macroeconomic factors offers insight into the performance of an economy. This study investigates the dynamic short- and long-term effect of trade openness, external debt, and foreign direct investment (FDI) within Ghana's economy. Utilizing Autoregressive Distributed Lag (ARDL) bound testing and Granger causality analysis, the study examines data spanning from 1991 to 2022. The results of the ARDL cointegration test reveal a long-term relationship among the variables. However, in the short term, the findings present a mixed effect of FDI and trade openness, with both positive and negative impacts. In the long run, FDI and external debt exhibit a positive influence, whereas trade openness appears to impede economic growth. Furthermore, the Granger causality test identifies a unidirectional causality relationship between the variables and economic growth. The study suggests that the government implement investment-oriented and trade policies to stimulate economic growth.
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Evaluating the Entrepreneurial Performance in South America. Case of Chile
13-28Views:134The research objective is to explore Chile's entrepreneurial landscape by assessing individual characteristics and institutional factors through a 'pillars' framework and compare it against Colombia, and Brazil; to identify socio-economic, individual, and institutional differences using the Global Entrepreneurship Index (GEI); to apply bottleneck approach to highlight areas requiring policy intervention. GEI features individual and institutional stage variables in a method where every variable collaboratively interacts, incorporating 14 foundational elements and three sub-indexes: attitudes, abilities, and aspirations. Ranking 18th on the GEI globally and the best in Latin America, Chile excels in key entrepreneurial pillars, showcasing strengths in innovation and a robust entrepreneurial culture. Brazil closely rivals Chile in competition and networking, emphasizing political and economic influence. Colombia surpasses Chile in internationalization and growth-stimulating policies but faces challenges like historical conflicts and wealth distribution. This study identified areas where immediate policy intervention may be necessary by examining Chiles's entrepreneurial ecosystem. The Penalty for Bottleneck (PFB) technique identified the weakest pillars highlighting process innovation, competition, and internationalization. The primary component identified as a bottleneck for resource allocation is Process Innovation, accounting for 73% of the allocation, followed by Competition at 23%. The findings show that allocating more resources to process innovation may improve greatly the overall GEI score.
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Food Security and Economic Growth: An Income Level Comparison
16-29Views:192Food security is a fundamental but often neglected aspect of economic growth and sustainable development. This paper examines the effect of food security on productivity (GDP/capita) over time, while taking the income level of various countries into account. Dynamic panel regression analyses suggest that food security is positively related to productivity, but this effect is stronger in more developed countries. The study highlights the complexity of the economic problems faced by the least developed countries, where increasing the consumption and supply of food is insufficient for significantly increasing economic performance.
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The role of the nonprofit economic companies in human resource management in Hungary
145-152Views:163In the changed labor market structure in the context of economic growth in Hungary, the reintegration of displaced and increasingly differentiated groups into the world of work has become an indispensable necessity, with alternative initiatives aimed at long-term profit maximization. Nonprofit economic companies replacing former public benefit companies not only determine the revenues of the whole nonprofit sector in their operations, their work goes beyond this, as most of them are engaged in socially marginalized, disadvantaged, or even disabled people, and can do other work to improve employability and employment. The aim of my study was to process the latest statistical database of the nonprofit sector issued by the KSH in order to determine the role of nonprofit economic companies in employment, by appying secondary analysis.
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Entrepreneurial Climate – Management of Women's Entrepreneurship
69-74Views:92Entrepreneurship, which people can have without formal economic education, is a tendency acquired through upbringing in the family, competition in school, implies risk and constant self-affirmation through the acquisition of profits and losses, so that it represents the sum of successes and failures, victory and defeat. In the last thirty years, female entrepreneurship has been developing more and more, especially in less developed countries, the reason for such growth is primarily reflected in the promotion of equality between men and women, the right to education, and the development of democracy. Female entrepreneurship is a significant factor in economic development, so the national economy becomes richer. The subject of this research are the entrepreneurial climate in the Balkans compared to the world in terms of female entrepreneurship, what is the role of the family in starting a small business, as well as its survival and growth. In the study the results of previous research in this area. The research method is based on a comparative analysis of studies dealing with this problem from the territory of Balkans. It can be concluded that in the Balkans, female entrepreneurship is still in its infancy, it is about a very small percentage of female entrepreneurs, although according to research, it is evident that there has been no major progress in the last 15 years. Recommendation In the countries of the Balkans, there is a good entrepreneurial climate for the development of female entrepreneurship, especially because women can work from home, and in the future it is necessary to go in this direction.
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Strategies and Effects of LEDS (Low Emission Development Strategy) in Fortaleza, Brazil
110-121Views:179When it comes to climate change, the built environment, together with transport, and waste and water management play a significant role as Greenhouse Gases (GHG) emitting sectors, reflecting the strong need to address such issues by local governments. A notable action that has been taken in this regard is the Urban Low Emission Development Strategies (Urban LEDS), which consists of a project implemented by the UN-Habitat and the International Council for Local Environmental Initiatives (ICLEI) that selected eight model cities and twenty-one satellite cities around the world and aims to support integrated and ambitious climate action, encouraging low-carbon efforts in emerging economies through the collaboration among them. In addition, eight European cities also participated in the project in its first phase, contributing with their expertise and experience with climate change mitigation. Since 2012, the city of Fortaleza in Brazil is a model city of the Urban LEDS project and it has sustainably integrated and developed many projects, making it a more resilient city, stimulating its economic growth and improving its quality of life. This paper aims to present the milestones that Fortaleza has already met within Urban LEDS and its main priorities in the next years, identifying best practices in three European cities (Copenhagen, Zagreb and Hannover) that could also be implemented in its geographical, social and cultural context, as well as indicate lessons that other cities can learn from Fortaleza.
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The Past, Present and Future of a Hungarian Company
303-313Views:376The new strategy for small and medium-sized enterprises focuses on growth, the three pillars of which are the development of a knowledge-based and innovation-based economy, a resource efficient, greener and more competitive economy, and high employment and social and territorial cohesion. Based on the plans and forecasts, in the 2021-2028 cycle, however, it is not as much as today, but it is possible to calculate development resources closely linked to economic development in the form of non-refundable subsidies in many forms. In my present study, I wish to outline the life span of a Debrecen company, NEXT Broker Consulting Ltd. and its potential development prospects in the post-2020 cycle, which may be important because it deals with tender writing, so it can show a serious impression on the previous or current the direction and situation of the use of development resources, thus indirectly the realization of the goals of Hungarian economic policy.
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A vállalati vagyon és a finanszírozás összefüggései a vagyonértékelés szempontrendszere szerint
69-79Views:220The availability for financial sources can be the key factor of competitiveness of enterprises. Under favourable conditions it can result in not only economic growth and conjunctural effects but indirectly it also has a positive influence on social level as well. In the first part of the article we make an overview on enterprise financing in both social and economic context and try to give an overall concept. In the second part we analyse the framework of financing, discuss the national and international specifications of financing, and finally, in the third part we analyse the background of enterprise financing based on the principles of asset appraisal.
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Successful International and Hungarian Family Businesses
280-287Views:564The purpose of family businesses are maintaining market competitiveness, develop sustainably and achieve their results in the dynamic market environment. The family run businesses are contributing significantly to the economic growth. They are interested in long-term preservation of values. The study presents the charachteristics of the world’s TOP family owned companies. In order to proving the economic value and importance of the Hungarian family businesses the study contains some findings of a representative national.
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Examination of the Physical Activity of Amateur and Hobby E-sport Players
Views:418With the spread of computers and the Internet, e-sports became a fast and dynamic growing sector with a significant market and economic potential. Its importance is demonstrated by the fact that its growth is now outstripping some traditional sports or other industries. E-sports users are sedentary in front of a computer during both competition and training, so their health is determined by the amount of physical activity they do when they are not in front of a computer. The primary aim of this research is to investigate the physical activity of e-sports users at different levels. In addition to this, I considered it important to investigate what games the players I interviewed compete in, how much time they spend playing and how they improve their skills. I conducted an online questionnaire survey in the University Electronic Games (UEG) online tournaments organised by the University of Debrecen. The participants in the survey fully met my criteria, as most of them were amateur or hobby e-sports players, so I obtained relevant data from their answers. Based on the participants' responses, it can generally be said that they engage in health-enhancing physical activity. However, it should be remembered that not only the rise in popularity of e-sports, but also the increasing digitalisation of society is contributing to the rise in sedentary lifestyles. In the future, it would be important to change the way gamers exercise, which until now has been predominantly to develop their digital video game skills. Physical activity and other health-related behaviours need to be integrated into the training routines of gamers - e-sports players, so that playing sports could become a natural pastime alongside e-sports.
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A Possible Way to Encourage Sustainable Consumption
21-40Views:352With the growth and spread of the concept of sustainable consumption and with the re-emergence of issues related to needs, the basic concepts of consumption need to be analyzed from aspects not inspected by mainstream economics. Consumer behaviour is largely determined by the prevailing values of society and nowadays consumption symbolizes social status. The purpose of this study is to critically examine the concept of utility, to review traditional and alternative concepts and aspirations related to the promotion of sustainable consumption. The authors argue, that utility can not only be examined by narrow economic considerations; the values of present and future generations also must be taken into account when determining what is considered to be useful. The study concludes by presenting alternative financial solutions that encourage sustainable consumption. The presented examples demonstrate, that complementary currency models are suitable means to encourage sustainable consumer behaviour. These are external motivational tools eliciting the desired behaviour through reward schemes.
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How Does Public Debt Change when the Next Crisis Comes - and It Will Come!/the Expected Evolution of Greece's State Debt in the Next Crisis Period/
91-104Views:241It has recently been announced that Greece may withdraw from the Euro-Zone permanent rescue fund's aid program because it has successfully met the conditions imposed on it. Creditors and credit qualifiers also agreed that the Greek economy was on a good growth path. That is why there is a chance that by 2030 the current sovereign gross debt of 182.7 per cent of GDP will fall to 123.3 per cent. The author finds this statement unfoundedly optimistic. He argues that the Greek debt ratio – despite the current optimum economic fundamentals – does not seem to be sustainable. He sees greater probability that in the near future it will again be necessary to release some of the Greek debt. Debt reduction will also mean a new orderly state bankruptcy. The study seeks to highlight how vulnerable and risked the sustainability of current Greek debt financing. Using a macroeconomic model, it shows and justifies how the Greek sovereign debt changes in the case of a crisis that is only half the extent of the previous subprime crisis. If this happens, by 2023, the state debt will rise to more than double the national product, and by 2030 only to the present, otherwise critical, level. It follows that the high risk of financing Greek state debt remains unchanged.
