Papers

• Is the clamour for infrastructure investment justifiable for economic development? An investigation into an emerging economy. A case from South Africa.

  3-27

  Stacey Lee Marais

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  A critical challenge in South Africa today is the absence of consistent economic growth and job creation, both of which are necessary to reduce poverty and increase the standard of living of its citizens. The South African government continues to commit and spend billions of rands annually on infrastructure in an attempt to address social ills. We analyse this type of investment using long- and short-term statistical methods to determine its effects on income per capita over the period 1996-2021. This was examined through the application of classic and contemporary econometric modelling and analysis, which started with a panel unit root testing, then moved onto cointegration test, and regression testing such as FMOLS, DOLS, and VAR models. The analysis demonstrated a long-term link between infrastructure investment and income per capita. Specifically, transport and ICT investments have a significant positive effect on earnings. On the contrary, labour has a long-term negative impact. Capital investment projects should not be developed, constructed, or implemented haphazardly. But must be coordinated with education and vocational development programs to improve labour efficiency to counter its negative impact on GDP per capita.

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• Sustainability performance evaluation systems in the fashion industry – A critical review from the perspective of micro and small enterprises

  28-44

  Klára Edőcsény

  Gábor Harangozó

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  The fashion industry faces significant environmental and social challenges related to sustainability globally, while sustainability performance assessment frameworks are predominantly tailored to large companies. The aim of this study is to critically analyse these frameworks from the perspective of micro and small enterprises, which represent a significant part of the fashion industry, but still are excluded from the available performance assessment frameworks. The research is based on a qualitative analysis and examines five main international evaluation systems along the dimensions of relevance, impact potential, simplicity and data accessibility. The results show that these tools are overly complex, costly and often irrelevant to the functioning of micro and small enterprises. The conclusion of the study is that there is a need to develop a simpler, context-sensitive sustainability performance assessment framework, tailored to the needs of the target group and the fashion industry, which could help these enterprises to self-assess their sustainability performance and identify opportunities for improvement.

  JEL codes: D12, Q56, Q58.

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• “Neutral” China - Examining China's role in international processes since the outbreak of the Russia-Ukraine conflict in 2022

  Noémi Csunyó

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  The study is based on China's perspective on the Russia-Ukraine war and its statements, political actions and economic aspirations since the escalation. China has tried to keep a neutral attitude towards the conflict. However, the Chinese position is complex, as it is heavily influenced by political and economic interests, which is reflected in the prosperous trade results with Russia as well. These major power aspirations are reflected in the reduction of economic dependence on the West, in the growing technological competition and political rivalry, particularly with the United States. Although China is increasingly opening up to Asian markets, its exports are still highly dependent on the US and European markets. Nevertheless, current developments are pointing towards further increasing independence and political tensions, which predict a shift in the global imbalances of power. 

  JEL codes: F15, F51, F53, O11

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