Economic Experts Research Articles

The Impact of Geopolitical Stability on Foreign Investment and Transnational Corporations: A Case Study of the Russia-Ukraine Conflict

Geopolitical stability plays a pivotal role in shaping the global economic landscape, especially concerning foreign investment and transnational corporations (TNCs). This study delves into the intricate relationship between geopolitical stability and these economic factors, employing a case study of the Russia-Ukraine conflict to exemplify their interplay. The Russia-Ukraine conflict, characterized by territorial disputes and political tensions, has had far-reaching consequences on foreign investment and TNCs operating in the region. This study scrutinizes how the conflict's instability has influenced investment decisions and strategies adopted by TNCs. The research combines quantitative and qualitative methodologies, drawing upon economic data, expert opinions, and corporate case studies. The findings indicate a clear correlation between geopolitical stability and foreign investment. In the context of the Russia-Ukraine conflict, periods of heightened instability have witnessed reduced foreign investment as risk perceptions rise. TNCs, concerned about the security of their assets and profitability, tend to adopt a cautious approach during such times. Conversely, when geopolitical tensions ease, foreign investment tends to rebound. Moreover, this study explores the strategies employed by TNCs to navigate geopolitical instability. Companies often implement risk management protocols, diversify their portfolios, and forge partnerships with local entities to mitigate risks associated with geopolitical instability. This research contributes to the broader understanding of the impact of geopolitical factors on global economics.

ISLAMIC ECONOMIC TRANSFORMATION IN THE DIGITAL ERA: A REVIEW OF THE ROLE OF FINTECH

This research examines the transformation of the sharia economy in the digital era with a focus on the role of Financial Technology (Fintech). Advances in information and communication technology have had a significant impact on the structure of the global economy, including Islamic financial practices. Fintech as a digital financial innovation has the potential to accelerate the growth of the sharia financial sector. This research uses a qualitative approach to analyze Fintech developments in the context of Islamic economics. Data collection was carried out through literature studies and interviews with financial practitioners and Islamic economics experts. It is hoped that the results of this research will provide an in-depth understanding of the impact of Fintech on the sharia financial ecosystem and how this innovation can strengthen sharia economic principles. In the digital era, the transformation of the sharia economy through fintech has brought significant changes, opening up financial access for Muslim communities who were previously marginalized in the conventional financial system.

Aspects of conducting a forensic commodity examination of sunflower oil

Vegetable oil production has been growing steadily, driven by increased consumption, including industrial consumption, and by producers developing the production of oils from fruits, nuts and grains. In this regard, there is a need for constant examination of vegetable oils, including the development of new testing methods, finding ways to improve the quality and safety of this product, and preventing the entry of falsified vegetable oil into the Ukrainian market. When conducting an examination of vegetable oils, the following research goals are determined: identification of the type of vegetable oil; methods of falsification and methods of their detection. Assortment falsification in vegetable oils is of the following types: re-grading is widespread, with highly refined vegetable oils being substituted for unrefined and technical oils most often. Also, more valuable types of oils: corn, sunflower can be replaced with low-value (soybean, cottonseed, rapeseed, etc.). Moreover, in a refined form, when specific aromatic and coloring substances have been removed, it is almost impossible to distinguish one oil from another by organoleptic indicators. It is possible to establish the origin of the oil only with physical and chemical parameters, in particular the composition of fatty acids. Quality falsification of vegetable oils can be carried out in the following ways: violation of production technology, violation of recipe composition, violation of purification (refining) technology.
 The article reveals the possibility of conducting a forensic examination of vegetable oil, considers the types of sunflower oil in terms of organoleptic, physicochemical and safety characteristics. The procedure for conducting the examination has also been considered. The article outlines the problems of falsification of vegetable oils, conducting commodity research, identifying commodity properties of vegetable oils, their technological features during forensic examination. Recommendations on quality control of castor oil for participants of foreign economic activity, expert organisations and consumers have been provided.

Employment as an object of socio-economic research and management

Education and the labor market are closely linked. Today there is demand in Kazakhstan, but there is no decent supply, especially for working professions.The unemployment rate in the country in 2021 was 4.9 percent. This means that more than 450 thousand Kazakhstanis are unemployed. However, according to economic experts, there are much more real figures. The purpose of the research work is to develop theoretical provisions and scientifically based recommendations for the development of the work of public institutions and their integration into the global economy in the conditions of modern technological transformation. The new results obtained will allow us to study the international labor market and assess the impact of modern technological changes on its development, to propose new comprehensive approaches to overcoming the imbalance in the labor market and the development of public policy that promotes its development in new directions in the field of labor relations. When writing the research work, theoretical methods were used: comparison, analysis and economic forecasts. Information-analytical and statistical data are also presented. The place of public institutions and their work in the field of employment was analyzed, methodological data with the indication of domestic and foreign experience in the development of proposals were used.

Embedding Patient Input in Outcome Measures for Long-Term Disease-Modifying Parkinson Disease Trials.

Clinical trials of disease-modifying therapies in PD require valid and responsive primary outcome measures that are relevant to patients. The objective is to select a patient-centered primary outcome measure for disease-modification trials over three or more years. Experts in Parkinson's disease (PD), statistics, and health economics and patient and public involvement and engagement (PPIE) representatives reviewed and discussed potential outcome measures. A larger PPIE group provided input on their key considerations for such an endpoint. Feasibility, clinimetric properties, and relevance to patients were assessed and synthesized. Although initial considerations favored the Movement Disorder Society-sponsored revision of the Unified Parkinson's Disease Rating Scale (MDS-UPDRS) Part III in Off, feasibility, PPIE input, and clinimetric properties supported the MDS-UPDRS Part II. However, PPIE input also highlighted the importance of nonmotor symptoms, especially in the longer term, leading to the selection of the MDS-UPDRS Parts I + II sum score. The MDS-UPDRS Parts I + II sum score was chosen as the primary outcome for large 3-year disease-modification trials. © 2023 The Authors. Movement Disorders published by Wiley Periodicals LLC on behalf of International Parkinson and Movement Disorder Society.

Development of Islamic economics and practices in Indonesia (2013-2023): opportunities and challenges

Despite the immense growth potential, implementing Islamic economics in Indonesia encounters substantial hindrances. An issue arises from the Muslim populace's constrained knowledge and comprehension of Islamic economics. This is evident from the customer base disparity between Sharia-compliant and conventional banks. The progress of the Islamic economy is evident in the gradual expansion of Sharia banking annually, albeit sluggishly. In the future, implementing Islamic economics will encounter obstacles, including a scarcity of proficient experts in Islamic economics, insufficient public knowledge of the Islamic economic system, and the nonexistence of an Islamic economics syllabus across different educational levels. These issues contribute to the public's unfavourable perceptions of the Islamic economic system. This study analyses the obstacles and potential advantages of integrating Islamic economic principles into Indonesia's economic development while considering the existing framework of conventional economic growth. The field of Islamic economics has achieved significant progress. However, there are still barriers that could hinder its ability to achieve its objectives. The data utilized for analysis consists of a blend of primary and secondary sources. Data collection primarily involved disseminating questionnaires, encompassing both closed and open-ended inquiries, to a cohort of 26 individuals. The secondary data for this study was collected from many sources, such as academic journals, official websites, and related literature published between 2013 and 2023. The article's findings indicate a favourable trajectory for advancing Islamic economics in Indonesia. The existing legislation explicitly recognizes the participation of Sharia economic practitioners and respects the fact that Indonesia has a predominantly Muslim population. Nevertheless, the study will thoroughly examine the various obstacles to advancing Islamic economics in Indonesia.

Economists on trial: how to make expert duties, meetings, and hot tubs work

There is extensive debate about the use of economic experts in competition litigation, both in the UK and in jurisdictions across Europe. There are several ingredients of good practice that have been developed over time, including the requirement for experts to talk to each other and share their data, and then produce a statement of points of agreement and disagreement to narrow the issues between them. Another ingredient is to give the experts their day in court, through cross-examination or hot tubs. Invented in the Southern Hemisphere, expert hot tubs are increasingly used in competition law cases in Europe. They allow the evidence from economic experts (party-appointed and/or court-appointed) to be heard concurrently in court. These hot tubs come in different shapes and sizes which this article explores.

Prices of Means of Production in Agriculture and Agricultural Prices and Income in Poland During the COVID-19 Pandemic

Theoretical background: Agriculture is an input-intensive sector of the economy. The sector of means of production in agriculture is one of the three basic components of the food economy. The prices of agricultural inputs shape the operational costs of farms and significantly affect their income situation. Key agricultural inputs represent fertilizers, plant protection products, seeds, energy and labour force. The COVID-19 pandemic has affected the functioning of food systems all over the world, including in Poland. The agricultural sector in Poland faced several challenges, including the surge in prices of means of production in agriculture. Purpose of the article: The study aims to identify and assess changes in the prices of means of production in agriculture and the impact of changes in these prices on the dynamics of selling prices of agricultural products and the income situation of farms in Poland during the COVID-19 pandemic. Research methods: The study employs various research methods, including critical literature analysis, the descriptive approach, the comparative method, verbal logic, and descriptive statistical methods. Moreover, we utilize a standardised questionnaire method utilising the CATI (computer-assisted telephone interviewing) technique, targeting 50 experts in the field of agricultural economics, to gather their perspectives on the possibility of transferring the rise in agricultural production costs to the pricing of products sold during the COVID-19 pandemic. The secondary data come from the Statistics Poland, the Agency for Restructuring and Modernization of Agriculture (ARMA), and the National Bank of Poland (NBP). The research period covers the years 2017–2021, with particular emphasis on the years 2020–2021, i.e., the period of the COVID-19 pandemic. Main findings: Research results show that only in 2020, the prices of goods purchased for current agricultural production decreased. However, in 2021, the costs of materials and services and other costs in agriculture, including wages, increased at a record pace. The demand-side causes of such cost increases were increases in money supply and agricultural income. Supply-side causes were shaped by commodity prices and wages. In Poland, the prices of goods and services purchased by farms were less variable than the prices of goods sold. The data analysis did not reveal significant relationships regarding the dynamics of the prices discussed. Such a conclusion is also confirmed by the results of a questionnaire survey directed to experts in agricultural economics. The responses concerning the possibility of transferring the increase in production costs to the prices of sold products during the pandemic years varied. In the years 2017–2021, the income situation of Polish farms was variable. In 2020, increases in income from production factors, operating surplus, and farmer’s income, and their decreases in 2021, were inversely correlated with changes in production costs in agriculture.

STRATEGIC VECTOR OF DEVELOPMENT OF THE AGRO-INDUSTRIAL COMPLEX OF RUSSIA ON THE FOREIGN ECONOMIC COURSE

The article presents the results of a study of trends and prospects of foreign economic activity, priorities of export of agro-industrial products in Russia and the Altai Territory in the conditions of sanctions foreign policy restrictions using methods of strategic economic analysis and expert assessments. The prospects for the development of foreign economic activity in the field of agriculture, taking into account the diversification of foreign markets, are revealed. The agro-industrial business is offered the appropriate resources and ways to find solutions for changing the orientation in foreign markets. In order to maintain the achieved level of exports of agricultural products and its further development, it is necessary to intensify measures to support all market participants. The favorable geographical location of the country, its productive resources and the previously planned course for the development of exports are the foundation for the further development of the foreign economic course in difficult modern conditions. The constraining factors are: the lack of knowledge of new markets, which affects the efficiency of changing the direction of exports by agricultural enterprises; the culture of consumption and the peculiarities of trade in Africa, Southeast Asia, India; the formation of new logical chains, the insufficiency of innovative industries in terms of technological sovereignty, the production of organic agricultural and food products.

Economic Compatibility of Islamic Economy and Pancasila: Implications for the Postgraduate Curriculum

This article aims to develop the Sharia Economics Curriculum in Indonesia which has a unique relationship between religion and state and the compatibility of both in the postgraduate curriculum in Indonesia. The integration of Islamic Economic values into the Pancasila economic framework supports the Islamic economic industry in Indonesia. The analytical method in this study will utilize literature studies by collecting and evaluating relevant theoretical sources to understand the compatibility between Pancasila economics and Islamic economics. The data will be analyzed through classification, synthesis, and pattern tracing in the literature to fill the research gap. The research concluded that there are several critical points in the alignment of the curriculum of the Master of Sharia Economic Law in Indonesia, including discrepancies in the integration of the economic values of Pancasila and Islamic Economics, a focus on legal aspects rather than ethics, a lack of concretomatic details on the redistribution of wealth and property rights, and a lack of emphasis on social welfare. The recommendations involve developing detailed strategies to integrate these values into the curriculum, collaboration with Islamic economic experts, practitioners, and experts, and ongoing monitoring and evaluation to ensure comprehensive alignment. It is necessary to create graduates with a holistic understanding of the compatibility of Islamic Economics and Pancasila in Islamic economic law.

Terrorism and regional trade: a study of Boko Haram in the Lake Chad region from 2012- 2020

This study examines how terrorist actions, namely those of Boko Haram (BHT), have impacted regional commerce in the Lake Chad Region. This article looks at the terrorist actions and insurgency of the Islamic fundamentalist group Boko Haram in the states of Western and Central Africa. Boko Haram wants to topple the governments of Nigeria and Chad in order to impose a harsh version of Sharia rule over the nation, which is home to over 230 million people of all ethnic backgrounds. Boko Haram started an extremely aggressive insurgency in 2009, which has resulted in the deaths of almost 18,000 people and the destruction of property valued at millions of dollars via explosives and massacres. This has severely harmed the region's economy by affecting trade ties between neighbouring countries in the Lake Chad region and the rest of the globe. The primary focus of the paper is on the political, military, and legal responses of Nigeria and its neighbouring countries to the hazardous acts of Boko Haram, which they see as the most effective means of putting an end to the insurgency. It also discusses Boko Haram's demands and ideology in short. The paper employs a qualitative methodology to examine international relations, with a particular emphasis on the concept of political economics of terrorism. This theory looks at the relationship between economic problems including poverty, inequality, and resource availability and how it relates to terrorism. Scientists with expertise in economics, political science, and sociology collaborated to develop the concept of the political economy of terrorism. According to the report, the insecurity threat posed by Boko Haram assaults prevents foreign investments and significantly halts local business and economic operations.

Staging Economics

The cultural analysis of economics that draws from European Ethnology is still clearly underemphasized. This article highlights its potential and explores possible approaches. It begins with a search for traces of the previous disciplinary preoccupation with economy and economics (economic theorizing). Then, using examples from the author’s own research (studies on business cycle research and on the phenomenon of economy museums), ways of approaching and their potential for knowledge production are concretised. Based on this, further-reaching perspectives are presented. Basically, it is not enough to limit the European-ethnological study of economy and academic economic activities to everyday actors and practices. It is also indispensable to look at economic expertise, its efficacy in economic processes and the „fabrication“ of this expertise – in the academic sphere and beyond.

A Paradoxical Convergence: French Economists and the Policy toward Cartels from the 1870s to the Eve of the Great Depression

As in other industrialized countries, cartelization was widespread in France after the 1870s. Cartels, and the public policy toward them, were frequently addressed in the public debate. This article deals with the stance taken by French economists on this subject until the Great Depression. Although they were divided into several groups that were in sharp disagreement on most scientific and policy issues, French economists were almost united in their lack of support for anticartel policy. The liberal economists' opposition stemmed from their general hostility to government intervention. Unlike in the English-speaking world, where many economists otherwise critical of government gradually became supportive of antitrust after mounting evidence had revealed the scope of certain kinds of exclusionary behavior, the French liberal economists remained constant in their opposition. The more reform-minded university professors, as well as the sociologists- economists of the Durkheimian school, were unenthusiastic about policies meant to safeguard competition because they viewed “excessive” market competition as destabilizing and wasteful. Finally, the most prominent experts in industrial economics, who were employed by large companies or professional organizations, also advocated a hands-off approach, in accordance with their employers' preferences.

Empowering Home Buyers: A Data-Ddriven Approach to Real Estate Pricing in Ames, Iowa

The demand for both housing and investment real estate has significantly increased due to rising urbanization and growing household savings. To address the need for operable real estate pricing models, this study explores potential variables affecting the sale prices of properties in Ames, Iowa, from 2006 to 2010. Utilizing data mining techniques and regression analysis, this study develops a model incorporating 12 independent variables that can be easily obtained during property visits. By offering an easily appliable tool, this research enables potential home buyers to estimate property sale prices, even without extensive expertise in Data Science, Investment, and Economics. The findings demonstrate that analyzing 12 variables directly related to the property itself such as interior finish of the garage, foundation material, and remodeling date can explain approximately 85.2% of the variance in sale prices. Empowering consumers with this knowledge can help reduce the information gap in the real estate market and promote informed decision-making in property purchases.

Dynamic Competition, Price Frictions and Institution Building: the CMA in 2022–2023

This article discusses three projects of economic significance that the Competition and Markets Authority (CMA) completed in the last year: First, we discuss the dynamic competition concerns that were at the heart of the CMA’s analysis of the Meta/GIPHY merger; this was the first case of a competition authority’s blocking an acquisition by one of the ‘Big Tech’ firms. Second, our work on the road fuels market study examined pricing behaviour in an important consumer-facing market and found that competition had weakened because historic price leaders have been taking a less aggressive approach to pricing, Third, we established a new research centre—the Microeconomics Unit—to bring economic expertise on competition, innovation, and productivity closer to regulatory and policy decisions.

Engagement Religious Compliance: Pengembangan Dimensi dan Skala Pengukuran

This article aims to discuss the development of the new concept of Engagement Religious Compliance (ERC). ERC is a form of involvement of an organization when entering into partnerships with other organizations, where the partnerships carried out are based on compliance and believed religious norms. In previous studies, the ERC concept was discussed using six indicators. In this research, the ERC concept was developed in terms of dimensions and measurement scales. This research is exploratory research. Data was obtained by conducting literature studies, FGDs and in-depth interviews with experts in management, Islamic economics, organizational behavior and partnership actors. Next, a field test was carried out by distributing questionnaires and the data obtained was analyzed using Confirmatory Factor Analysis using Smart PLS 4. The conclusion of the study results is that ERC has four dimensions, namely 1) cognitive involvement, 2) affective involvement, 3) cognitive attachment, 4) affective attachment. Cognitive engagement was measured with eight indicators, affective engagement was measured with five indicators, cognitive engagement was measured with four indicators and affective engagement was measured with three indicators, so that the total number of indicators obtained was twenty items. The research results also concluded that the original ERC concept only measured involvement, so in the new concept ERC is not only measured by involvement but also measured by engagement. Thus, the results of this research have changed the existing definition of the ERC concept.

A Critical Analysis of Pakistan's Budget 2023-24: The Fiscal Challenges

The paper presents a comprehensive analysis of Pakistan's Budget 2023-24 and its fiscal landscape, sketching the challenges and opportunities within its revenue generation, economic growth, and debt management. The primary challenge facing Pakistan’s economy is the gap between government revenue and expenditures. The country faces hurdles in tax collection, marked by a complex tax system, tax evasion, and discrepancies impacting the middle and lower-income classes. A mixed research method was used in conducting this study, analysis of fiscal data, extensive literature review, and consultations with economic experts. An in-depth analysis of Pakistan's revenue sources, inflationary trends, budget deficits, and global economic conditions was conducted. The results show a complex web of challenges in Pakistan's fiscal framework, the gap between revenue collection and government spending, high inflation rates, the imbalance between exports and imports, encircling tax evasion, and an intricate tax system. The paper offers a sequence of strategic reforms, emphasizing expense reduction, tax simplification policy, political and legislative reforms, and encouraging investment for economic stability. It also highlights the need for coordination among government organizations, strategies to attract Foreign Direct Investment (FDI), and endorsing Human Resource Development (HRD) for a skilled workforce. The analysis highlights the importance of reforms in the governance structure, taxation system, and spending to achieve stability and economic growth in the country.

Fünf weise ECB-Watcher?

Abstract The German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, SVR) is the most prominent institution of economically based policy advice in Germany. In their comprehensive annual report, the five experts critically assess current economic policy. Since 1999, the ECB has also had to face this criticism. The five experts argue fairly and constructively, but also critically. This critical argumentation results from the Council‘s stability-oriented and ordoliberal basic stance. In contrast to the ECB, the SVR sees inflation risks rather than deflation risks, argues not on a case-by-case basis but on the basis of monetary policy rules, and repeatedly points to the interdependence of the sub-regimes of the economic order, for example when it warns of fiscal or financial dominance of monetary policy. These findings can contribute to the scholarly debate on how the traditionally critical attitude of the German public towards the ECB and its policies comes to be.

Role of BMT in Improving Household Financial Management

Lack of capital is a major obstacle in doing business, especially when the business is classified as a micro small business. The capital factor is an obstacle to the development of a business. So if this micro small business owner wants to expand, he must borrow or credit to credit institutions such as : BPR, BPRS, Banks and other financial institutions. However, a new problem arises from BPR, namely that the minimum credit for businesses is Rp. 5 million plus interest. In response to this, Islamic economic experts created a concept of financing and savings up to a nominal value below Rp. 1 million even Rp. 100 thousand is still served. The financial institution is Baitul Maal wat Tamwiil (BMT). BMT is a solution for individuals who have home-based businesses to expand. This study will look at the role played by BMT and how maqasid sharia reviews this role.

DETERMINANTS OF AUDIT AND FORENSIC ECONOMIC EXAMINATION IN THE SYSTEM OF FINANCIAL CONTROL OF LOCAL BUDGETS

Strengthening the fight against economic crimes and fraud in local budget institutions requires improvement of financial control. The article is devoted to the issue of ways and content of introduction of audit and forensic economic examination tools into the internal control system. The research method chosen was an empirical assessment of the state and prospects for improving the control system through a questionnaire. The structure of the questionnaire included grouping of questions into four sections. Questions of informational nature are included in the first section, characteristics of internal control and audit are included in the second section of the questionnaire. The third section contained the issues of contact with external control and audit institutions, and the fourth section assessed the potential capabilities and intentions to use internal and external audit tools and forensic economic expertise. The quality of the survey was ensured by its preliminary pilot testing. The selection of respondents from local government institutions in the five oblasts ensured representation in the survey. Technically, the questionnaire was distributed through open official work emails of representatives of institutions using Google form, which ensured open distribution and anonymity of responses. The paper analyses the results of the responses, which showed the state of the internal control system and the directions of its development. The study provides a comparative assessment of the state of the internal control system and the availability of internal audit services in local self-government institutions. The publication considers the results of questionnaires on the state of interaction between local self-government institutions and external auditors in terms of audits of annual financial statements and consulting. It also identifies the extent of the need to supplement the internal control system with external audit tools. The author identifies differences in assessments of the needs for interaction with external auditors and forensic experts, and substantiates the directions for improving the internal control system of local budget institutions. It was also suggested that the effectiveness of control in preventing, detecting and combating fraud should be strengthened based on foreign experience of cooperation with external auditors and forensic experts.