This paper shows that inflation is a result of more money in an economy without appropriate distribution and reuse; there is no productivity of the economic units. The problem statement is to clarify that inflation is not about the quantity of money, but the result of the quantity of money when it does not come from a productive economic activity, meaning that inflation exists when the higher prices don’t comply with the productivity and the economic activity of an economy. The objective of this research is to show that inflation should be interpreted in terms of the productivity of the economy and adhere to the distribution and reuse of money based on the CM (Cycle of Money). The current research aims to show the term Domism. Domism is the economic condition in which the rise in the quantity of money corresponds to increased productivity, proper distribution, and effective reuse of money within the economy. It reflects a well-structured economic environment where inflation is mitigated due to the alignment of money supply with real economic activity, ensuring that higher prices are justified by increased value creation. Appropriate responses should be provided in both cases, when domism is high and when it is low. High domism means that the economy has higher values, because of the increased distribution and reuse of money, or better productivity of the economy. The economy’s function and structure are linked through the money cycle, affecting productivity. Inflation reduces the money cycle, lowering exchange rates, while deflation increases it. The methodology is based on the Q.E. method.

Universities, traditionally known for their primary roles in teaching and research, have expanded their mission to encompass activities aimed at contributing to the economic and social development of the regions in which they operate. This additional focus is known as the Third Mission of universities. While the economic contributions of universities through knowledge transfer and university-industry collaboration are well-established, the social impact of the Third Mission remains a complex and ambiguous concept. Universities are expected to create social impact without clear guidance as to what are the mechanisms they can apply to do so. Consequently, the interpretation and implementation of the social aspect of the Third Mission vary among universities, and some institutions may not engage in it at all. This study provides a timely and comprehensive overview of the existing literature on the diverse mechanisms employed by universities to engage with society and create social impact. We utilize a combination of descriptive analysis and systematic literature review of 112 peerreviewed articles to identify embedded and emerging Third Mission activities, clustered within the domains of Responsible Education, Knowledge Transfer, and Co-creation. Given the pressing societal and environmental issues we are facing, our study has important implications for universities and policymakers, as we propose a transformative framework for inclusive development for an expanded understanding of the Third Mission of universities and how it can be used to create and increase social impact.

The relationship between government expenditures and economic growth has become a significant consideration by many researchers in recent years, especially after the financial crisis of 2008-2009 and the spread of the COVID-19 pandemic. Therefore, earlier studies show different results regarding the impact of government expenditures on economic growth. The primary purpose of this study is to examine the impact of government expenditures on economic growth. Specifically, it aims to elucidate how a potential increase in government expenditure may influence overall economic growth. The study aims to deal with government expenditures over a long period, which includes data from 1995 to 2022. Econometric models are applied to test the impact of government expenditures on economic growth in developing European countries. To confirm the hypotheses, a comprehensive methodology based on several methods such as OLS, Fixed and Random Effects, Hausman Test, FMOLS, DOLS and GMM are applied. The results show a negative relationship between general government expenditures and economic growth, where the increase in government expenditures would have a negative effect on economic growth by -0.16% in developing European countries. Moreover, this study contributes to the governments of the respective countries by empirically investigating the correlation between government expenditures and economic growth.

This study aims to investigate the longterm relationships between foreign direct investment (FDI), human capital accumulation, freight transportation, and economic growth in 25 African countries across three distinct regions—Southern Africa, Central Africa, and North Africa—over a span of 25 years (1995- 2020). Employing fully modified ordinary least squares and dynamic ordinary least squares estimators, the empirical analysis reveals bidirectional and predominantly positive long-run relationships between the variables. However, certain linkages demonstrate unidirectional trends, particularly the relationship between FDI and human capital in Southern and Central African regions, albeit with minor statistical significance. Notably, negligible associations were found between freight transportation and human capital across all cases. The findings underscore the significant impact of an efficient transportation system on facilitating FDI inflows, substantially contributing to the development of human capital—a pivotal driver of long-term economic growth in recipient countries. Finally, robustness checks to validate the results through the GMM estimators are performed. The implications suggest the crucial role of enhancing transportation infrastructure in fostering FDI and subsequently nurturing human capital, thereby fueling sustained economic growth in these African nations.

The purpose of this article is to establish an empirical link between the determinants of structural change and a set of economic variables proposed in theoretical and empirical literature. Our prediction was for structural change due to the diversification and sophistication of exportation. To do this, we use a generalized method of the moments dynamic panel regression technique to identify the key fundamentals of export sophistication and diversification in certain *economies in the Middle East and North Africa region over the period 2000–2017. Empirical findings show a positive relationship between export sophistication and foreign direct investment, financial openness, human capital, infrastructure, and institutional quality. At the same time, there is a positive link between diversification, trade openness, human capital, population, and infrastructure. Nevertheless, the results suggest that countries in the MENA region must put in place policies that focus on developing human capital and strengthening education, facilitating all forms of trade and transactions, and improving the quality of their institutions.

The purpose of this study is to find out the financial variables that predominantly influence the prediction of corporate failure. The study is based on forward logistic regression. The variables of the Altman Model have been utilized to test the predictability of predictors of corporate failure because this model is widely employed in this context. A total of 217 firm years of data from 2007 to 2019 have been utilized for this study. The findings of the study show that among the variables considered in this study, the ratio of Earnings before Interest & Taxes to Total Assets has the most predictive capability to predict corporate failure. Besides, the probability of failure can also be better predicted collectively by Net Working Capital Ratio, Equity-to-Liability Ratio, & Asset Turnover Ratio along with the Earnings before Interest and Taxes to Total Assets Ratio. An important finding indicates that the Retained Earnings to Total Assets Ratio is not an effective predictor when it comes to forecasting corporate failure. Through the application of Forward Logistic Regression, one can identify the most influential variables for predicting corporate failure. The decision makers can utilize the findings to identify the factors that possess the highest capability in forecasting corporate failure, thereby enabling them to take the necessary preventive measures.

This paper explores the effects of excessive financial Euroization on monetary and financial stability by using deviation from interest rate parity (dIRP) as a proxy measure of financial and monetary stability, building on the interest rate parity puzzle theory. We focus on five Central and Eastern European (CEE) EU member countries (Poland, Hungary, the Czech Republic, Romania, and Croatia) from January 2002 to December 2019. The impact of euroization parameters on dIRP is empirically tested by employing the ARDL cointegration model and the Granger causality test. Interest rate differentials and inflation were employed as additional explanatory and control variables. Results show that loan euroization and interest rate differentials greatly impact dIRP in all countries except the Czech Republic, where deposit euroization and inflation have a more significant impact. Furthermore, the causality analysis has shown that there is also a vicious circle where dIRP causes Euroization in the short run. At the same time, greater Euroization, in turn, exacerbates dIRP in the long run. This confirms that Euroization is relevant in explaining the interest rate puzzle, impacts greater dIRP among financial markets, and strives to harmonize interest rates with the euro area to maintain financial and monetary stability.

With the beginning of the transition to a market economy in Bulgaria, reforms in the healthcare industry also began to take place. Their main goal is related to improving the health status of the population in the country. Three decades later, the implemented reforms do not meet society’s expectations. The main aim of the study is to outline the results of the reforms in the industry over the past ten years, as well as the major economic and social impact they led to. For this purpose, the impact of the reforms in healthcare industry on the efficiency with which it operates, their impact on the health status of the population and on the importance of the industry for the country’s economy are studied. A comparison is made with other EU member states and with the average European levels. The study is built on primary data, provided by Eurostat for the period 2010-2020 in the input-output model in its upgraded version FIGARO. The results of the conducted research show that the implemented reforms lead to positive changes in the industry. However, there are still a number of problems in healthcare in Bulgaria, as the country lags behind average European levels in most of the studied indicators.

The German energy transition, also called Energiewende, is a significant effort towards the growth in usage of renewable energy sources. Motivated by the need to combat climate change and lessen reliance on fossil fuels, Germany has undergone a thorough transformation of its energy sector. This paper explores the Energiewende within the timeframe of its beginning in the 1990s till the middle of 2022, including its legal and theoretical background, analysis of Germany‘s current legal framework for renewables and its correspondence with EU renewable energy targets until 2030. The practical part includes several case studies from renewable energy projects in Saarland as an example for good business practices and in order to support the general conclusions on the topic. The aim of this paper is to review the energy transition process in Germany and to indicate what practices are applicable to other countries such as Bulgaria. Through the usage of literature review and analysis of case studies, the paper outlines key moments for green energy development in Germany as well as practical information from previous renewable energy projects. The results provide valuable insight for similar future projects in Bulgaria, which could support the transition process towards a sustainable and clean future.

The tangible and intangible effects of controlled transactions on economic performance and tax revenue are examined in this paper. As a result, the transfer pricing procedure includes an analysis of the tangibles, which are the property with the services, and the intangibles, which are the assets of the controlled transactions (the transactions that take place between companies that control their transactions to have profits and control of their losses). Consequently, predicated on the method of the Q.E. and the R.B.Q. model established a comparison between the instance where there are just the tangibles and the case where intangibles are also included. The purpose of the study is to shed light on how businesses that engage in managed transactions of intangibles behave. The findings show that intangibles are utilized by tax evaders as leverage.