Development Of Service Sector Research Articles

Human Resource Competency Development to Support the Development of Blue Economy-Based Marine Energy

The utilization of ocean energy based on the blue economy has become a primary focus in efforts to achieve sustainability in the maritime sector. The development of this sector requires high-quality human resources to address complex challenges. Therefore, this research aims to identify the need for human resource competencies to support the development of ocean energy based on the blue economy. This study adopts a mixed-methods approach (qualitative and quantitative) with a survey of stakeholders in the ocean energy sector. The survey will be conducted to gather data on the competencies required by personnel in various fields such as technology services, management, and law. The collected data will be analyzed using factor analysis techniques to identify the most important competencies. The targeted outcome is to provide employees as future generations with additional knowledge insight into relevant blue economy aspects aligning with the needs and challenges they will face in the future. We hope that the results of this research will provide valuable information for those involved in human resource development in the ocean energy service sector. This information can be utilized to develop training and staff development programs tailored to the specific needs.

Agricultural mechanization and the performance of the local Chinese economy

In this study, we analyze the impact of agricultural mechanization on the local Chinese economy from 2010 to 2020. Findings based on panel data and instrumental variable methods show that agricultural mechanization led to a significant decline in the local gross domestic product. In particular, agricultural mechanization changes the sector’s production and lowers its output value. Agricultural mechanization has reduced the need for labor to such an extent that young Chinese tend to seek jobs in the non-farming sector, leading to a fall in the local agricultural labor supply and household consumption, adversely affecting the development of local industries and service sectors. Mechanization has also led to cash crops being increasingly replaced by grain crops, reducing the total agricultural output. Finally, this paper presents some policy suggestions for agricultural production and rural development.

Analysis of the Role of Agribusiness in the Indonesian Economy

Agribusiness is an important support in national economic development. This research aims to determine the complete agribusiness system that is interrelated with economic activities. This research methodology is a literature review which is based on Indonesian government regulations. The results of this research show that agribusiness has a strategic role in the formation of GDP, employment, international trade, regional economic development, national food security, environmental preservation, and equal distribution of development results. In the development and implementation of agribusiness that is already underway, there are still many obstacles. To solve very complex economic problems, especially in the agricultural sector, Indonesia requires sharpening (focusing) economic development strategies which are expected to be able to provide solutions to existing problems. So synergy is needed in the agribusiness sector, namely between agriculture, plantations, animal husbandry, fisheries, and forestry with the development of upstream and downstream agricultural industries as well as the development of related service sectors therein.

THE EFFECT OF PROJECT MANAGER COMPETENCE ON THE ACHIEVEMENT OF CONSTRUCTION PROJECT PERFORMANCE

The development of the construction services sector in Indonesia continues to experience rapid growth, encouraging construction industry players to have quality human resources. This research aims to identify project manager competency factors on construction projects in Banda Aceh City, analyse the relationship between these and project performance achievements, and evaluate their influence on construction project performance achievements in Banda Aceh City. The object of this research is the competency factors of project managers that influence construction project performance. This research was conducted at contractor companies domiciled in the Banda Aceh City area. The data sources used in this research are primary data and secondary data. The population of contractors at small, medium and large qualification levels is 71 contractors. The total sample was 42 contractors. The sampling technique used was purposive sampling. The variables used in this research include the independent variable (X) and the dependent variable (Y). The data analysis used in this research is descriptive, simple correlation analysis and multiple linear regression analysis. The research results show that knowledge, skills, and attitudes have a solid relationship. In contrast, management has a high relationship with project performance achievement. Overall, the project manager's competency factor significantly affects project performance, reaching 94.9%. Management is the most dominant competency factor influencing the achievement of project performance in Banda Aceh City. Thus, increasing the competence of project managers, especially in management, is expected to improve the quality of construction project implementation in the region.

URGENSI RESESI EKONOMI DAN PENGARUHNYA TERHADAP STABILITAS SEKTOR JASA KEUANGAN

The aim of the research is to determine the development of the Indonesia financial services sector amidst the issue if the economic recession and to map strategies and policies that need to be improved through the implementation of structural reform policies in theIndonesian economy. The high dynamics of the global economy has resulted in adecline in intermediation performance in several national economics sectors. Meanwhile, the stability of the domestic financial services sector remains maintained with solid capital, a maintained risk profile and adequate liquidity. As a preventive measure in facing a recession to minimize the impact on society and encourage national economic performance through the implementation of structural reform policies in the Indonesian economy to maintain monetary stability and financial system stability as elements of continuity in supporting the planning and implementation of sustainable development programs through optimizing management owned natural resources, building reliability in the industrial sector, building resilience in the energy and food sectors, strengthening the economic financing structure,developing inclusive economic activities and strengthening development capital capabilities.

Low-carbon energy transition in oil-dependent African countries: implication on fiscal revenue

Purpose The purpose of this study is to empirically analyse the fiscal revenue implications for oil-dependent African countries in the face of low-carbon energy transition (LET). Design/methodology/approach The study combined the novel fully modified ordinary least squares, dynamic ordinary least squares and canonical cointegrating regressions estimators to analyse secondary data between 1990 and 2020 for the three major oil-dependent African Countries (Algeria, Angola and Nigeria). Findings The result shows that LET reduces oil revenue and non-revenue for specific countries (Algeria, Angola and Nigeria) and the panel, suggesting that low-carbon energy transiting is lowering the fiscal revenue of oil-dependent African nations. Research limitations/implications The seeming weakness of this study is its inability to broaden the scope to include all oil-producing African economies. However, since the study selected Africa’s top three oil-producing states, the sample can serve as a model for others with lesser crude oil outputs. Practical implications Oil-dependent African countries must urgently engage in sincere economic diversification in sectors like industry and manufacturing, the service sector and human capital development to promote economic transformation that will enhance fiscal revenue. Originality/value With the pace of energy transition towards low-carbon energy, it is not business as usual for oil-rich African countries (Algeria, Angola and Nigeria) due to fluctuating demand and price. As a result, it becomes worthy to examine how the transition is affecting oil-dependent economies in Africa. Also, this study’s method is unique as it has not been used in a similar study for Africa.

Expansion of Communication Contact Between the State, Business and Society in the Republic of Kazakhstan

Main problem: digital transformation of Kazakhstan’s society leads to emergence of new communication business models, including the so-called proactive data-based service, which implies expansion of communication contact between the state, business and society. Digital transformation of economic sectors and the service sector has objectively caused discussion of issues related to various aspects of its implementation. These include digitalization of society spheres within framework of public administration [1], problems of interaction between business and government [2], mechanisms of interaction between subjects in the private-public partnership model of government and business [3], description of communication models of business types, government and public sector [4], history of emergence of electronic trade, its forms and types of goods delivery to a consumer [5], organizational and managerial relations and processes arising in enterprises, working in field of online marketing and e-commerce [6]. In Kazakhstan, digitalization of spheres and the economy sectors is one of strategic priorities of its development. Use of information and communication technologies in the service sector creates additional impulses to its dynamics, therefore, has impact on improving population’s life quality. In this regard, it is necessary to identify trends and patterns of communication interaction between the state, business and society, to consider and clarify their content. The purpose: the research of state and trends in the development of Kazakhstan service sector under the influence of digital solutions and expansion of communicative contact between the state, business and society. Methods: the performed analysis in the research is based on the materials of the statistical reviews and their analysis using the methods of grouping, generalization, logical analysis, system description and interpretation. Results and their value: a range of the key problems of communication interaction between the state, business and society is investigated and determined. Recommendations are proposed to accelerate the development of e-commerce in Kazakhstan as a tool for communication interaction between business and society and improving population’s life quality.

Digitalisation as a Factor of Service Sector Development

The purpose of the study is to summarise and present the main advantages of digitalisation as a factor in the development of organisations, in particular in the service sector. Research methods. The study used such general scientific research methods as generalization and systematisation (to distinguish approaches to the definition of digitalisation from previous studies), observation, analysis and synthesis (to specify the benefits of digitalisation in the activities of organisations), which allowed the authors to analyse the concept of “digitalisation” in the context of its impact on the development of service sector enterprises. The scientific novelty of the study is to highlight and actualize the main advantages of the impact of digitalisation on the development of the service sector. Conclusions. The current challenges facing the development of the service sector require enterprises and organisations to act following current market conditions, such as globalization and digitalisation. That is why digital transformation or digitalisation is becoming a priority area of their development. It is found that, in general, digital transformation is understood as the process of integrating digital technologies into all areas of business, which is manifested in fundamental changes in how business operates and how it brings value to consumers. It is determined that digitalisation is inherent in virtually every sphere of human activity, especially in the service sector and the provision of various services, as the Internet plays an important role and has a significant impact on the daily activities of service users around the world. Digital transformation helps to increase the efficiency, effectiveness, sustainability and innovation of service offerings by developing and delivering new types of services, engaging customers in the processes of creating and delivering services and improving their quality, etc. The article also examines such motivational factors for the transformation of various business structures as changes in consumer behaviour and expectations, digital shifts in companies, and changes in the competitive environment. It is established that the most active digitalisation is taking place in the public services sector. An example of such a transformation is the introduction of the Diia portal, which allows most of the needs of citizens and businesses to be met with electronic services. Digital transformation processes are also observed in education, healthcare, real estate, construction, finance, etc. The article highlights the main advantages of digitalisation as a factor in the development of the service sector, including improving the efficiency of communications with consumers, modernising information and communication technologies, expanding competitive advantages, improving the quality of services, optimising production costs and implementing improved business processes, developing digital literacy, developing the production of digital products and services, creating a positive image of the organisation in the market, etc. Digital transformation is one of the biggest trends of the 21st century, affecting a significant number of organisations moving forward.

Factors determining renewable energy demand behavior: service sector development, private sector involvement, and human resource management perspective.

Energy is considered the engine of growth due to its indispensable role in fueling economic activities. However, energy is one of the primary contributors to environmental degradation. In addition, conventional energy sources are depleting quickly due to the over-consumption of these sources, raising the issue of energy security. The solution to these above-stated issues is increasing renewable energy consumption. There is evidence that service sector development, private sector development, and human resource management help improve energy efficiency; however, their role in increasing renewable energy demand is debatable. This analysis fills the vacuum by examining the effect of service sector development, private sector development, and human resource management on renewable energy demand across four major regions: Asia, America, Africa, and Europe, spanning from 1998 to 2021. The analysis depends on the CS-ARDL model that can estimate the short and long-run results by addressing the model's cross-sectional dependence. The model estimates confirm that service sector development, private sector, and financial development escalate the long-run renewable energy consumption in all regions except Africa. Human resource enhances renewable energy consumption globally, in Europe and America. Likewise, GDP and carbon emissions stimulate long-run renewable energy consumption in all regions; however, trade only encourages renewable energy consumption globally and in Europe. The service sector development, financial development, carbon emissions, and trade significantly encourage short-run renewable energy consumption in one or two regions. In contrast, the GDP positively and significantly connects to the short-run renewable energy consumption in almost all regions. Therefore, policymakers should focus on increasing the role of human resources, services, and private sector development in the economy.

Good for the environment? Foreign investment opening in service sector and firm's energy efficiency

Until now, studies on the environmental effect of foreign investment opening (FIO) in service sector are still blank. Actually, development of service sector is significant force for promoting economic modernization for the countries, thus development of service sector is extremely significant for developing countries. In this paper, we select China, the largest developing country, as representative country, in studying environmental effect of FIO in service sector. Our analyses construct theoretical model in studying impacts of FIO in service sector on enterprise's energy efficiency. Then, our analyses employ strictly exogenous policy change of China's foreign investment control clauses to measure FIO in service sector, and empirically identify the causal effects of FIO in service sector on firm's energy efficiency by using unique energy consumption data of Chinese enterprises from 2001 to 2012. Our results imply FIO in service sector could raise energy efficiency, suggesting that FIO in service sector has a positive effect on the environment. Further mechanism tests show that FIO in service sector could lead to improvement of energy efficiency by technology spillover effect and innovation effect. Our analyses give the first evidence on environmental impact of FIO in service sector, which reveals its significant role in promoting economic development of developing countries.

HOW THE EU ASSOCIATION AGREEMENT SHAPES UKRAINE'S FINANCIAL SERVICES MARKET REGULATION

This article delves into the impact of the European Union (EU) Association Agreement on Ukraine's financial services market regulation. The study examines how the harmonization of Ukrainian legislation with EU norms has shaped the financial services sector's development and integration into the European economic area. Research Objectives: The main objectives of this research are to analyze the extent to which Ukrainian legislation aligns with the acquis EU in the financial services domain and to identify the challenges and opportunities arising from this process. Additionally, the study aims to assess the implications of the EU Association Agreement on Ukraine's financial market stability, transparency, and regulatory oversight. Methodology: To achieve the research objectives, a comprehensive review of relevant literature, EU directives, and regulatory acts concerning financial services was conducted. The study also analyzed official documents related to Ukraine's adaptation to EU norms and the implementation of the Association Agreement. Furthermore, expert opinions and insights from prominent scholars in the field were considered to gain a deeper understanding of the subject. Findings: The analysis reveals that the EU Association Agreement has played a pivotal role in shaping Ukraine's financial services market regulation. The step-by-step adaptation of Ukrainian legislation to the acquis EU has fostered a more unified legal environment for market participants in both Ukraine and EU countries. Notably, the transfer of regulatory functions for the non-banking financial services market to the National Bank of Ukraine has enhanced overall financial stability and brought Ukraine's financial practices in line with international standards. However, certain limitations and restrictions in the cross-border provision of services persist, presenting challenges to fair competition and market access. Despite these hurdles, the successful implementation of the Comprehensive Program for the Development of the Financial Sector until 2020 has contributed to resolving economic issues and restoring macroeconomic stability in Ukraine. As Ukraine continues on its path towards deeper integration with the EU, ongoing efforts and reforms in the financial services market are essential to align with EU norms, foster cooperation, and attract more investments.

Exploring the Influence of the Financial Services Sector Evolution on Economic Finance in Mauritius

This paper investigates the evolution of the financial services sector in Mauritius and its impact on economic finance. The study provides a detailed analysis of the development of the financial services sector in Mauritius, which has emerged as a key player in the African region. The paper examines the key factors that have contributed to the growth of the sector, including government policies, regulatory reforms, and investments in infrastructure and technology. Furthermore, the paper assesses the impact of the growth of the financial services sector on the wider economy, including its contribution to GDP growth, employment, and income generation. The study also identifies some of the challenges facing the financial services sector in Mauritius, such as the need for greater financial inclusion, enhanced risk management, and increased transparency. Overall, the paper argues that the evolution of the financial services sector in Mauritius has had a significant positive impact on economic finance and has played a critical role in the country's economic development.

FORECAST INDICATORS OF INCREASE IN EMPLOYMENT OF THE POPULATION ON THE BASIS OF THE DEVELOPMENT OF THE SPHERE OF TOURISM SERVICES

In the conditions of a modern, innovative economy, the article widely highlights the role of tourism services in the national economy of Uzbekistan and its role in the labor market. In the conditions of Uzbekistan, the problems of ensuring employment of the population on the basis of the rapid development of the tourism services sector are deeply analyzed and their prospective indicators are determined on the basis of econometric analysis. At the end of the article, the necessary recommendations are given to increase the employment of the population, based on the rapid development of the tourism services sector in the future.

Going Away or Getting Green in BRICS: Investigating the EKC Hypothesis with Human Capital Index, Nuclear Energy, Urbanization, and Service Sectors on the Environment

Rising industrialization, urbanization, and the vast economic size of Brazil, Russia, India, China, and South Africa (BRICS) are generating CO2 emissions, and these countries are struggling to deal with environmental degradation. Before it is too late, the BRICS need to identify variables that reduce pollution to maintain long-term sustainable growth. The study tries to test EKC in the BRICS area and analyzes the dynamic linkages between nuclear energy, urbanization, the service sector, human capital consumption, and CO2 emissions. The newly developed Cross Section Autoregressive Distributed Lag (CS-ARDL) approach, which incorporates both slope heterogeneity (SH) and cross-sectional dependence (CSD), is used to examine annual time series data from 1972 to 2021. After confirming SH and CSD problems, the paper applied second-generation unit root and cointegration tests. The EKC represents an inverted U-shaped quadratic relationship identified between environmental pollution and GDP in the BRICS countries. In terms of environmental damage, however, GDP in quadratic form has a relatively small impact. As a result, it is vital to consider the effects of other variables. Urbanization is a major contributor to the contamination of the environment. On the other hand, nuclear power can minimize emissions in the long run. Research suggests that the service sector's development and human capital investments are essential to keep environmental degradation to a minimum in the BRICS. Overall, the study shows crucial findings for pollution control and achieving sustainable development goals. This study also demonstrates that simply increasing the nation's wealth is inadequate to satisfy environmental demands.

Service Related Competences: Education Practices in the Republic of North Macedonia

Abstract This paper presents research on service related competences in Republic of North Macedonia. This research was conducted as part of Erasmus+ CBHE project entitled” Enhancing and validating service related competences in versatile learning environments in Western Balkan universities (e-Viva)”. Innovations and development of new technologies including automation of manufacturing processes cause paradigm shift in business models in manufacturing sector while service sector emerges as potential for economic growth by absorbing more labour and offering diverse services. Thus, development of service related competences is an important issue for overall development of service sector. Assessment of service related competences in South East Europe aimed at the identification, analysis and description of current education programmes and practices relating to service orientation with focus on the interface between formal and informal learning in the higher education sector and possible connections to validation practices in relation to EQF, NQFs and the related instruments (ECTS, ECVET and EUROPASS). Method: Results of desk research, online questionnaire results and results of interviews with stakeholders (one-to-one or focus group) as well as interpretation of needs analysis in North Macedonia are elaborated and presented in this paper. The results of this project and research show that significant attention is devoted to development of competences in service sector in North Macedonia. The findings indicate that respondents/parties are aware about the positive aspects of the “Service Related Competences”, especially regarding the professional, career development, and employment prospects. There is a need of online courses where basic theoretical concepts should be presented, and then, in combination with practical learning, the same should be exercised and learned how to be used in practice.

Концепция экономики сферы услуг региона в условиях формирования новой ресурсной нормальности

The paper presents an analysis of modern theoretical works on the topic of building the concept of the economy of the service sector in modern conditions. The new resource normality, which is rapidly forming in the 20s of the XXI century, also requires the formation of a new methodology in many economic problems, including in the functioning of the economy of the service sector. This is what determines the relevance of this work. Within the framework of the study, the purpose of the study was chosen in the form of studying the format and specifics of the formation of the concept of the economy of the service sector in the conditions of the formation of a new resource normality. The materials for the research were works on the transformation of the economy of the service sector in conditions of resource instability. The methods of the study were selected retrospectively-analytical and comparative-country. The results of the study were the consideration of theoretical aspects based on the history, current state and prospects for the development of the domestic service sector in the conditions of strong disturbing negative factors of external and internal environments. The essence of the differences in the problems of the situations of 2020-21 and 2022- present is separately detailed. On the basis of the formed material, the author’s recommendations for the construction of a new methodology are made. In conclusion of this study, the general results of the work carried out are formulated, in particular, the generalizing results of the work on the analysis of modern theoretical works in the field of transformation of the economy of the service sector in the era of the formation of a new resource normality are presented. In addition, the section summarizes the conclusions / recommendations on the design of a generalizing concept of the economy of the service sector in the context of the formation of a new resource normality.

The Growth of Service Sectors, Institutional Environment and Quality Development in China’s Manufacturing

The path of exploring the high-quality development of the manufacturing industry has become one of the focus issues in China. In terms of experience, the impact of service sector growth on the quality of China’s manufacturing industry is unclear. Therefore, institutional environment is incorporated in the research frame, and the Sys-GMM is used to estimate the relationship between them based on China’s provincial panel data from 2010 to 2020. The main results showed that: (1) Both the service sector growth and institutional environment can improve the quality of manufacturing development, and they have a significant interaction. (2) The impact of service sector growth on the quality of manufacturing industry decreases in the eastern, central and western regions of China. The expansion of foreign direct investment in services cannot significantly improve the quality development in China’s manufacturing, and there is no obvious interaction between SFDI and the institutional environment. However, the domestically funded service sector is the opposite. The main contribution of this paper is to empirically verify the impact of service sector growth on the quality of manufacturing development in China, and consider the differences in the impact of regional development of service sectors and the heterogeneity of investment subjects. In addition, from the perspective of system development, this article considers the influence of the institutional environment, so as to analyze the former’s impact on the latter in more detail.

Representation of Korean Women's Beauty in K-Natural White Brightening Body Wash Self-care Ads on Television Media

The Financial Services Authority or “Otoritas Jasa Keuangan, (OJK)” was formed with the aim that all activities in the financial services sector: are organized regularly, fairly, transparently and accountably, are able to realize a financial system that grows in a sustainable and stable manner, and is able to protect the interests of consumers and the public. The duties, functions, and authorities of the OJK are very heavy and complex because they are related to regulation and supervision in the field of financial services. The implementation of OJK's duties, functions, and authorities in regulating and supervising the financial services sector needs to be supported by the availability of OJK employees who have competence in accordance with developments in the financial services sector. The competence of OJK employees must include a combination of skills, knowledge, and attitudes, namely: Technical Competence or technical competence, Managerial Competence or managerial competence, Interpersonal Competence or Social/Communication Competence. The method in this writing uses a literature study, by examining: books, scientific journals, laws and regulations, online materials, and other sources.

ANALYSIS OF FINANCIAL SERVICES AUTHORITY EMPLOYEES' COMPETENCE IN THE REGULATION AND SUPERVISION OF FINANCIAL INSTITUTIONS

The Financial Services Authority or Otoritas Jasa Keuangan (OJK) was formed with the aim that all activities in the financial services sector: are organized regularly, fairly, transparently and accountably, are able to realize a financial system that grows in a sustainable and stable manner, and is able to protect the interests of consumers and the public. The duties, functions, and authorities of the OJK are very heavy and complex because they are related to regulation and supervision in the field of financial services. The implementation of OJK's duties, functions, and authorities in regulating and supervising the financial services sector needs to be supported by the availability of OJK employees who have competence in accordance with developments in the financial services sector. The competence of OJK employees must include a combination of skills, knowledge, and attitudes, namely: Technical Competence or technical competence, Managerial Competence or managerial competence, Interpersonal Competence or Social/Communication Competence. The method in this writing uses a literature study, by examining: books, scientific journals, laws and regulations, online materials, and other sources.

СОВРЕМЕННАЯ СПЕЦИФИКА РАЗВИТИЯ ФИНАНСОВЫХ УСЛУГ В ЭКОНОМИЧЕСКОЙ СИСТЕМЕ

The main purpose of the scientific research is defined, which is to characterize the main specific signs of the development of the financial services sector in the economic system, which are particularly acute in the conditions of integration into the economic world space against the background of the structuring of the market of goods and services. Definitely at this stage of scientific research, the object is the financial services sector. The subject of scientific research is the modern specifics of the development of financial services in the economic system, taking into account the innovative transformation of the economy as a whole. Scientific novelty is objectively conditioned by the development of theoretical foundations and scientific and methodological provisions on the formation of characteristic features of modern financial services in the economic system. By reviewing scientific reports, scientific publications and expert opinions, specific signs of the current stage of development of financial services, taking into account digital transformation, are formulated. When forming a list of specific signs of the development of the service sector at the present stage of the development of financial and economic systems, the strategic directions of financial policy and banking policy, which is carried out by the state, are highlighted.