Development Of Macroeconomic Indicators Research Articles

Romania: A Case of Differentiated Integration into the European Union

Abstract This article identifies what is specific about Romania’s differentiated integration (DI) into European institutions. It outlines Romania’s expectations and priorities towards the European Union (EU) across three time periods: 1990–2000, 2001–2006 and 2007 onwards. Through this, it evaluates multiple perspectives on EU membership: DI; the development of macro-economic indicators; and Romanian attitudes towards European integration. In some areas, Romania has recorded substantial progress; in others it is still behind other Central and East European member states. Romania remains one of the most determined supporters of EU integration, as membership is considered a key impulse for economic stability and growth. Even if Romania is still outside the Schengen area and the eurozone, it continues to adhere to its accession objectives.

ОСОБЛИВОСТІ КРЕДИТНО- ІНВЕСТИЦІЙНОЇ ДІЯЛЬНОСТІ НА ФІНАНСОВОМУ РИНКУ УКРАЇНИ

У статті розглянуто питання взаємозв’язку інвестиційної та кредитної діяльності, визначено рівнозначність відносин «емітент – інвестор» та «позичальник – кредитор». Зазначена важливість статистичного аналізу кредитно-інвестиційної діяльності для забезпечення сталого розвитку економіки та покращення інвестиційного клімату. У результаті проведеного дослідження визначено «банкоцентричність» фінансового сектору, розглянуто основні проблеми, що притаманні сучасному фінансовому ринку та перешкоджають сталому розвитку економіки в цілому і фінансовому ринку зокрема, в тому числі визначено причини гальмування розвитку кредитно-інвестиційної діяльності та сповільнення темпів зростання активів банківської системи. На основі даних НБУ, НКЦПФР та Фінмоніторингу України проведено детальний статистичний аналіз ряду показників, що характеризують динаміку економічного розвитку і розвитку фінансового сектору. З використанням методів статистичного та графічного аналізу визначено взаємозв’язок між цими показниками. Проведено кореляційних аналіз цих показників і визначено істотну кореляційну залежність між ними. З урахуванням отриманих у результаті дослідження результатів зроблено висновок про важливість дослідження питання управління ризиком боргових інструментів у межах комплексної системи ризик- менеджменту фінансових установ.

Examination and control of the efficiency of enterprises operating within the health care sector

In the scope of our research, the efficiency of companies operating in the health care sector and the correlation between efficiency indicators and macroeconomic indicators were examined. One of the research questions is how the efficiency indicators of companies applying IFRS will develop during the analysed period. The other research question is whether and to what extent changes in individual macroeconomic indicators affect the efficiency of companies. It was an important consideration regarding the analysed companies that their consolidated annual statements are prepared in accordance with International IFRS. In addition, the selected sample was narrowed to companies of 5 countries within the European Union. The efficiency indicators of the companies were presented by creating quartiles and preparing descriptive statistics. When presenting the efficiency indicators, specifics of the IFRS accounting system depending on the content of the indicator were highlighted. Then it was examined, whether and to what extent the efficiency indicators are affected by the changes in macroeconomic indicators. This analysis was conducted using the Stata statistical system and applying random linear panel regression. As a result of the study, it can be concluded that the development of macroeconomic indicators has no effect on the efficiency indicators, their impact can only be measured in a complex sense.

Economic factors determining the electoral success of far-right and far-left parties in the EU countries

The recent electoral success of far-right and far-left parties is often considered to be a side-effect of the economic crisis. This article aims to determine the degree to which the downturn in economic performance helped to increase the vote share of these parties. The research includes a set of 23 EU member states from the period 1995 to 2012, and finds that poor economic performance significantly determined the vote share of the far-left. Among the indicators influencing the far-left electorate were mainly changes in the GDP and unemployment rate. The research does not find any correlation between the far-rights vote share and the development of macroeconomic indicators.

Estimation of Economic Development in Papua New Guinea: Linear Trend Analysis or Moving Average Model?

A time series analysis is often used for estimation of economic development of countries. However, the prediction based on development of macroeconomic indicators might be analyzed by various models. This article aims to verify the hypothesis of differences in predictions using linear trend analysis and moving average model on the example of Papua New Guinea using the indicators such as gross domestic product, the growth of gross domestic product, inflation, merchandise trade balance and budgetary balance as percentage of gross domestic product. It was found out that these two types of analyses considerably diverge in their results

Systémy měnových kurzů, jejich volba v tranzitivních ekonomikách a dopady na vývoj inflace a ekonomického růstu

In this paper we discuss the issue of the choice of exchange rate regimes in transitive economies and the effect of exchange rate policy on the development of macroeconomic indicators (e. g. the average growth rate of real GDP in domestic currency and the development of domestic inflation). It is obvious that exchange rate policy is not a passive factor, at least in the medium term. Our analysis indicates that the fixed foreign exchange rate arrangements policy does not necessarily mean stability of the foreign exchange rates. Neither percentage exchange rate changes of fixed rates, nor their volatility measured by the standard deviation are lower than the average change is over the examined period. Our analysis indicates also that the inflation rate is growing in accordance with the growth of depreciation of the foreign exchange rate and the growth of its volatility measured by the standard deviation. It was cleared that the higher volatility of the effective nominal exchange rate is reflected by the lower average economic growth rate of transitive countries.

Exchange rate, inflation and real economic growth in transitive economies

In this paper we discuss the issue of the choice of exchange rate regimes in transitive economies and the effect of exchange rate policy on the development of macroeconomic indicators (e. g. the average growth rate of real GDP in domestic currency, the development of domestic inflation and the real exchange rate). Our analysis indicates that monetary and exchange rate policy is not a passive factor, at least in the medium term. Monetary policy should, in the first phases of transformation development, warn against two extremes: absolute stability even appreciation of the nominal exchange rate, or, on the contrary, chronic and severe depreciation.