General Economic Development Research Articles

Development of the Recycling Industry Sector in Bulgaria in the Context of the Circular Economy Concept

The article examines the structure and results of the activities of enterprises from the raw materials and materials recycling sector in Bulgaria by subsectors from the National Classifier of Economic Activities (NCEA 2008). The article examines the structure of the recycling industry sector of the national economy with enterprises and resp. the results achieved by them in each of the directions – waste collection, waste recycling and waste disposal. The research interest and choice of this sector of the national economy is not accidental. It is provoked by its importance for building a circular economy, the fight against climate change and the concept of secondary utilization of the exhaustible resources of our planet. The purpose of the article is to make a comparison and outline the directions of development of the enterprises from the recycling industry in Bulgaria in comparison with the general economic development of the country in recent years. Statistical data for the enterprises from the recycling industry were used in relation to selected economic indicators – turnover, value of long-term tangible assets, value of short-term tangible assets, employed personnel, investments made, etc. At the national macro level, and as a basis for comparison, the main macroeconomic indicators are observed – gross domestic product, gross domestic product per capita and foreign direct investments. By using the methods of comparison, retrospective analysis, technical analysis, etc. principles and regularities in the economic development of the sector and its importance for the general economic development of the country have been identified.

Соціальні та економічні ефекти розвитку ринку іпотечного кредитування в умовах дії правового режиму воєнного стану

The article reveals the peculiarities of the development of the mortgage lending market in Ukraine and its impact on the socio-economic development of society. Housing mortgage lending allows the optimal combination of the interests of various parties as one of the most reliable ways of attracting private investment through the capitalization of residential real estate, – construction companies, financial and credit institutions, citizens, and the state. The mortgage lending system changes the needs of different social strata of the population, affecting the behavior strategy and adaptation to market conditions. Providing good living conditions contributes to improving the nation’s health, increasing life expectancy, and increasing the working capacity of the population, which are essential components of the country’s social capital. An assessment of the possibilities of stimulating this influence in the conditions of war and post-war recovery was carried out, and the necessary tools for strengthening the social orientation of mortgages were determined. The processes of implementing the state program «eOselia» as a vital tool for restoring mortgage lending to provide affordable housing for the population have been analyzed. The conclusions regarding the possibilities of developing mortgage lending in modern challenges and the need to implement strategic measures to stabilize and expand the housing market in Ukraine are substantiated. The development of the real estate market and mortgage lending is quite tricky due to the instability of the economic situation in the country, the war, and the population’s growing demand for the improvement of housing conditions. Therefore, the proper development of the mortgage lending market will contribute not only to the economy but also to the social development of the state. Thanks to reforms, state support programs, and technological innovations, Ukraine can create a more accessible and stable mortgage market, which will contribute to the improvement of the living conditions of citizens and general economic development. Keywords: mortgage, mortgage lending, mortgage lending market, state lending program.

Sustainable flood control strategies under extreme rainfall: Allocation of flood drainage rights in the middle and lower reaches of the yellow river based on a new decision-making framework

Climate change has exacerbated the frequency and magnitude of extreme rainfall, which has led to the perpetuation of flooding as a hazard to humans and society. China has begun to consider introducing Flood drainage rights (FDR), a sustainable flood control measure, into non-engineering measures as a complement to engineering measures for flood control. FDR represent the right of regions to discharge regional floodwaters caused by extreme rainfall into the river, and are the primary means of controlling the amount of floodwaters from regions when regional flood capacity is exceeded. However, existing studies on quantitative FDR allocation still have limitations, and some previous methods have resulted in allocation schemes that are not entirely reasonable and fair because they do not comprehensively consider the influencing factors of FDR or the allocation method is unreasonable. This paper explores the impact of flooding on rural and agricultural areas. We incorporate the factors of agricultural economy and security and construct a system of the allocation indicators of FDR composed of five principles: Natural Environmental Endowment, General Economic and Social Development, Agricultural Economy and Security, Macro policy regulation, and Respect for Historical Background. Second, considering the influence of expert judgment and data of different time nodes on the allocation of FDR, we introduce the concepts of expert weight and time weight into the allocation model of FDR, and construct a new set of framework for the allocation of FDR, i.e., "[(expert weight + subjective weight)+(time weight + objective weight)]+decision making model ". To reduce the loss of information during the transformation of subjective judgments, we also introduced triangular fuzzy numbers for the transformation between expert judgments and numbers. Finally, we take the five provinces in the middle and lower reaches of the Yellow River as an example. Using the data from 2010 to 2021, we obtain the final allocation scheme (proportion) of FDR as Henan (33.26%) > Shaanxi (23.08%) > Inner Mongolia (21.31%) > Shanxi (14.44%) > Shandong (7.91%). On this basis, this paper utilizes sensitivity analysis and comparative validation to demonstrate the rationality and effectiveness of the method, and identifies several indicators that have a greater impact on the results of the allocation of FDR. FDR can form part of a set of integrated flood management system together with flood control projects, which greatly alleviates the drainage conflicts arising from flooding caused by extreme precipitation. Under extreme rainfall conditions, FDR improves drainage efficiency and minimizes the overall damage caused by flooding in the watershed. This study can contribute to the sustainable development of the watershed and provide a reference for the promotion and utilization of sustainable flood control measures.

ENSURING THE FINANCIAL STABILITY OF THE ENTERPRISE WITH PERFORMANCE MARKETING TOOLS

The study is devoted to the problems of the organization of the transition of the enterprise to the concept of performance-marketing, which allows to achieve stabilization of the financial stability of the enterprise in modern conditions. The purpose of the article is to investigate the essence of the concept of performance marketing and to develop a mechanism for the enterprise's transition to performance marketing as a condition for ensuring its financial stability. The article provides a description of the historical basis of the formation of domestic performance marketing and reveals its features and differences from other types of marketing. A definition of performance marketing and its basic principles is offered. Systematized performance marketing tools. The peculiarities of the company's transition to the performance concept are substantiated. The restraining factors of the development of the performance concept at the enterprise are analyzed. A system for evaluating the effectiveness of engagement channels has been developed. The proposed road map for the transition of the enterprise to performance marketing. A mechanism for transition to a performance approach in the company has been developed. The algorithm for building end-to-end analytics as the basis of performance marketing is described. The substantiation of the features of ensuring financial stability with performance-marketing tools has been carried out. The role of performance marketing at each stage of ensuring the financial stability of the enterprise is defined. In the article, it is proven that the implementation of performance marketing will provide an opportunity to increase the company's financial stability and to apply an exceptional strategy for optimizing the company's financial development, analyze and use the necessary financial parameters, based on the acceleration of the general economic development of the enterprise.

Patriotic Tourism Demand in Albania: A System GMM Model Approach

Abstract This paper aims to evaluate the determinants of international tourism demand in Albania following the existing literature and particulars of the tourism sector in Albania using Dynamic Panel Data from 2011 to 2019. The analysis is conducted on the sample of 20 countries of origin using the Two-Step GMM Model. The analysis highlights the importance of word-of-mouth effect in the tourism industry in Albania marked at the same time by inferior goods and services, as defined by the microeconomic theory. While on the one hand, tourism becomes very useful in terms of social cohesion (converging familiars and relatives), on the other hand, it can support better the general economic development. At the same time, this study underlines the relative importance of Government Spending. The National strategy on tourism must look not only at the tourism demand quantity but mostly at the sustainable and greater added value tourism segments.

Credits seeking and sourcing for agribusiness firms in developing countries: An empirical review of Nigerian experience

Credit is one of the crucial resource capable of accelerating revolutionary transformations Credit stands out as a vital source of funding among the numerous ones that are essential for agribusiness firms. Agribusiness includes all aspects of farming and allied business ventures with the overall goal of increasing aggregate agricultural output and promoting general economic development. Agribusiness has been recognized as a key driver of the world economy Banks, nonbank financial organizations, stock exchanges, and other sources are only a few of the places where credit can be obtained for agribusiness. One of the difficulties limiting Nigerian agribusiness performance in developing nations is credit finance. While the government of developing nations are trying to assist farmers, their efforts frequently fail to reach the intended targets. Most times, only farmers with strong political ties or allegiances typically have access. These loan facilities occasionally get into the hands of people who are not real farmers, diverting government efforts away from their primary goal.Credit seeking and sourcing behaviours involves the frequency of credit application within a short period of time. This behavior can be viewed evaluated by lenders as it may indicate that the borrower is in serious financial distress and is seeking credit to address it. There `has been a discernible rise in the amount of money going to the agriculture industry throughout time. It was concluded that both in the short and long terms, bank loans had no discernible effect on agribusiness performance due to high interest rate charged. It was recommended that monetary authorities should make a concerted effort to close the growing gap between the lending rate and savings rate so that people will be completely encouraged to save in order to access credits for agribusiness investment in Nigeria.

A Review of the Literature About Broadband Internet Connections and Rural Development (1995-2022)

This article provides a systematic review of the quantitative social science research on broadband Internet technology in rural areas. Specifically, we summarize the literature on 1) rural broadband availability and adoption behaviors and 2) the implications of these behaviors for rural businesses, public policy initiatives, and regional development. In the studies reviewed, rural areas suffer from both lower availability and lower adoption rates compared to their urban counterparts. However, researchers disagree on whether supply frictions inherent to rural areas or heterogeneous demand and adoption behaviors are the major cause of this outcome. Researchers widely agree that high-speed Internet improves economic outcomes of rural areas, whether it is through increases in business activity or in more general economic development measures (e.g. productivity, jobs, income). Impact evaluations of rural broadband policy initiatives produced mixed results, highlighting the need for a better understanding of agents’ incentives. This review points to four areas for future research. One, assessments of the long-term impact of broadband on rural economies. Two, analyses of the net effect of broadband on economic development outcomes (e.g. migrants, job creation). Three, assessments of economic development impacts associated with broadband speed. Four, assessments of the efficacy of broadband policies.

BUMDesa Development of BUMDesa to Increase The Economic Resilience of The Community in Au Wula Village

Purpose: This study aims to find out and analyze the application of management, collaboration with other parties, and local economic development of BUMDesa to increase the economic resilience of the community in Au Wula village.
 Methodology: The research design is a research-based development. The development design is based on the model of increasing community economic resilience through BUMDesa management practices and the PIID-PEL program approach. The stages of the research consisted of pre-field, implementation, data analysis, data presentation, drawing conclusions, and checking the validity of the data.
 Findings: The results showed that the increase in the economic resilience of the Au Wula village community was the result of the development and implementation of: (1) General management elements at BUMDesa include planning, organizing, directing, coordinating and controlling; (2) Collaborative management with 60 farmers, adding manpower, synergizing transportation, opening a vegetable market, and scholarship programs from elementary schools to master's programs; (3) Development of the local economy through the establishment of ecotourism centers, MSME centers, and the involvement of youth groups.
 Implications: Development and application of general management, collaborative management, and local economic development at BUMDesa can be used to grow and increase economic resilience in villages.
 Practical implications: Implementation of management governance, collaboration, and local economic development in the village.
 Originality/value: The application of governance includes management, collaboration, and local economic development will grow and increase village economic resilience.
 Paper type: Research paper

Positioning Biotechnology for Nigeria's Industrialization

Most of the activities concerning biotechnology in Nigeria are still in the laboratory research stage. More pragmatic effort is now needed to translate the results of biotechnological research into commercial products and processes as well as general economic development. Also, concerted effort to create companies for specific products and services using industrial biotechnology is required in Nigeria.

Bulgaria: Political Developments and Data in 2022

AbstractThe data entry reviews the major political developments in Bulgaria in 2022, including the governmental crisis of May–June 2022, the early elections in October 2022, the failure to form a new Cabinet in the last months of 2022, and the continuing de facto rule of President Radev. It also discusses the main issues in Bulgarian politics, including the position of GERB (i.e., Citizens for European Development of Bulgaria) in the political process, the Bulgarian ambivalent position on the Russian‐Ukrainian war, and the impact of the war on energy prices and general economic development in the country.

PROCESSING INDUSTRY AS A STRATEGIC DIRECTION OF UKRAINIAN ECONOMIC DEVELOPMENT

The article examines the processing industry as a strategic direction of the general economic development of the Ukrainian economy. The study analyzed the efficiency of not only the processing industry, but also the industrial sector as a whole. In particular, it was found that the total industrial GDP of Ukraine, determined by the production method, in 2021 amounted to UAH 1,111,762 million, of which 50.42%, or UAH 560,527 million, belonged to enterprises in the processing sector. At the same time, among all sectors of the economy, the specific weight of the processing industry in the GDP for 2021 is 10.28%. This makes processing production one of the key types of economic activity of the national economy of Ukraine, and, accordingly, defines it as strategically important for improving the socio-economic well-being of the population.
 The authors paid special attention to highlighting the importance of micro, small and medium-sized enterprises (MSMEs) for the development of the processing industry of Ukraine. MSMEs account for more than 99% of the number of business entities in the studied production area, and therefore, strengthening the competitiveness of enterprises of these types will have a positive impact on the overall growth of the Ukrainian economy.
 The next stage of the research focused on the analysis of the productivity of the processing industry of the European Union. The dominance of the studied industry among other sectors of the EU industry was established. Germany and France can be called leaders in the processing sphere among European countries, while Poland lags significantly behind them in terms of added value.
 Ukraine is an active candidate for joining the European Union.Thus, in addition to the adaptation of Ukrainian legislation to European standards, it is also necessary to increase the level of efficiency of the enterprises of the processing industry. In this case, it is important to strengthen the competitiveness of Ukrainian industrial products on the European market with the aim of constantly increasing the volume of exports of Ukrainian industrial goods to European countries. The authors found out that the balance of foreign trade turnover of Ukraine in 2022 as a result of trade with the EU amounted to 1.8 billion dollars.

The Role of Innovation for Post-Crisis Recovery of Small and Medium-Sized Enterprises

Small and medium enterprises (SMEs) are the most important part of our economy and their condition and development is decisive for the general economic performance and development of the country. They are highly vulnerable to economic shocks and uncertainties, and since the beginning of 2020 they have faced major challenges due to the COVID-19 pandemic and the consequences of the war in Ukraine. In these conditions, the role of innovation as the main tool for survival and getting out of the difficult situation is growing. The purpose of this article is to briefly present the results of an empirical study of the role of innovation in SMEs to recover from the COVID-19 crisis and to improve their economic performance. These results are indicative of the impact of innovation on economic success during times of crisis. They can be discussed, but they can also be the basis for the correct direction of the efforts of enterprises to improve their competitiveness.

Impact General Allocation Of Funds And Economic Growth On Government Expenditure In East Kotawaringin

This study aims to examine the impact of economic growth and the general allocation of funds on economic growth in East Kotawaringin. The descriptive-quantitative research method was used in this study. Multiple linear regression with the t-test, F-test, and coefficient of determination test was used in this study as an analytical tool. According to the findings of this study, the variables of the general allocation fund significantly impact government expenditures in East Kotawaringin. At the same time, economic growth has no significant impact on government expenditure in East Kotawaringin. Concurrently, the general allocation fund variables and economic development affect the government expenditure variable

Water-energy-food nexus in the Great Lakes Region of Africa: Current status and prospects

Water-energy-food (WEF) nexus is a concept that aims at integrating these three key economic drivers which are very crucial for the improving the livelihood of the people, general economic sustainable development and social well-being of the world population. The effective utilization and management of these key resources require in-depth planning assessment of symbiosis, competitions and concession with an essential contribution in the nexus. This paper aims at reviewing the WEF in the Great Lakes region of Africa with a focus in Kenya, Democratic Republic of Congo, Rwanda and Uganda. The status and prospects in each country has been assessed and the interconnection between the three fundamental resources together with the effects of climate change towards the security of these resources in the selected countries have been discussed. The review has found out that the selected countries are indeed WEF insecure since the impacts of climate change and poor infrastructure play a vital role in the insecurities highlighted. In the focused countries, it was realized that the existence of weak institutional and legal frameworks, political instability and poor infrastructure indeed hinders the regional attainment of the WEF nexus for sustainable economic development. This therefore calls for a dire need for the adoption of climate change adaptation and mitigation measures in the WEF nexus through an integrated and holistic approach in the Great Lakes Region of Africa.

Analysis of Electoral Process and their Relationship with Democracy and Economic Index in the Balkan Countries, 2011–2021

The results of a comparative analysis based on the Electoral Integrity Index, evaluated for the period 2011–2021 in the Balkan countries are this paper’s objectives. Referring to perceptions of the level of fulfillment of international standards for democratic elections (PEI), the Balkan region is classified in the group of countries belonging to the “Moderate” category. In the Balkan countries, the positive relationship between the electoral process and the development of liberal democracy is evident, while the level of corruption is a factor that has a significant effect on the electoral process. Clusters analysis performed using estimates of distances between indicators related to the electoral process, the development of a liberal democracy, general economic development and the level of corruption present significant distances. The development of liberal democracy in Balkan countries is conditioned by the level of realization of synergy in the interaction between different factors. This paper aims to identify the legal framework in the details of Balkan countries related to electoral reform, going through recommendations through comparison and quantitative methodology and bringing Czech legislative dimension as a smart solution of problems that countries face in the electoral process.

The impact of technology export regulations on corporate R&D investments

We use a difference-in-difference research design to examine the effect of an exogenous shock to a firm’s R&D investment from Chinese regulations regarding technology exports revised in 2008. We document that these technology export restrictions (TERs) decrease a firm’s R&D investment. Specifically, the TERs reduce corporate R&D investment by 114 percent compared with that by an average firm in the sample. Additional analysis suggests that the TERs also reduce outbound direct investment and the number of firms’ patent applications. Overall, TERs prevent firms from investing in innovation projects. Hence, relaxing TERs would enhance corporate R&D investment and promote general economic development.

ДИНАМІКА КУРСОВОЇ ПОЛІТИКИ НАЦІОНАЛЬНОГО БАНКУ УКРАЇНИ В УМОВАХ ВІЙНИ ТА АКТУАЛЬНА СТРАТЕГІЯ КУРСОУТВОРЕННЯ

The article is devoted to the analysis of the measures of the exchange rate policy of the National Bank of Ukraine regarding the optimal order of formation of the exchange rate, which have been taken since the beginning of the full-scale war and the justification of the reasons and feasibility of the transition to the regime of managed flexibility of the exchange rate as an actual and most optimal concept of exchange rate formation. The relevance of the research is beyond doubt, because the choice of a successful strategy for the formation of currency rates using effective traditional and innovative tools will allow balancing the currency market, ensuring financial security and general economic development. The research methods used in the work are: analytical method, graphical method, methods of comparison and detailing. Basic theoretical aspects of the essence of foreign exchange policy have been highlighted, its object, subjects and key tasks have been defined. Operational actions of the National Bank of Ukraine to prevent the rapid depreciation of the national currency due to the impact of the war have been determined, the first of which was the immediate transition to a fixed exchange rate regime, with the aim of adapting to difficult conditions, avoiding panic, ensuring the stable operation of the financial system, curbing inflation and maintaining macroeconomic stability In addition to the fixed exchange rate, directive currency restrictions have been established, including: restrictions on the operation of the foreign exchange market, restrictions on the issuance of cash in the national currency, a ban on the issuance of cash in foreign currency, and others. The advantages of the fixed exchange rate policy, as a temporary stabilization tool, as well as the disadvantages of its long-term use, which put pressure on the economy and are a threat to the state’s financial system, have been analyzed. The advantages, rationality, and prerequisites for introducing the system of managed exchange rate flexibility by the National Bank of Ukraine as a transitional stage before returning to the regime of currency exchange rate formation that operated before the start of a full-scale war, namely: a floating exchange rate and inflation targeting, have been argued.

The importance of Banking sector in the growth of Nation economy: A case study of Stanbic bank in South Sudan

The banking industry is essential to supporting other institutions and general economic development in sub-Saharan African countries, acting as a vital support system for other institutions and overall economic development. This research aims to examine the correlation between banking sector assets, bank deposits, and liquid liabilities and their implications for the economy. A comprehensive survey was conducted, targeting all commercial banks in South Sudan. The questionnaire was completed by 50 directors, managers, and senior officers. The findings showed a tenuous inverse link between consumer deposits and economic expansion. To address these concerns, it is imperative for the government to establish a stable political system, exercise fiscal discipline, and establish effective information infrastructure within the banking sector. Policymakers should also prioritize tackling tax evasion and avoidance to bolster bank profitability and effectively deal with the challenges faced by the economy.

РОЛЬ МОНЕТАРНОЇ ПОЛІТИКИ В СИСТЕМІ ЗАБЕЗПЕЧЕННЯ ФІНАНСОВОЇ СТАБІЛЬНОСТІ ДЕРЖАВИ

This article examines the role of monetary policy in the system that ensures the financial stability of the country. Monetary and credit policy is an important part of the economic policy of the National Bank, which is aimed at ensuring price stability, creating appropriate conditions for the economic growth and development of the country, and increasing the level of employment of the population. Ensuring the stabilization of the national economy requires the implementation of a set of measures aimed at managing individual elements of economic development. The implementation of a successful monetary policy and its impact on national economic security depends on the achievement of tactical, medium-term and final goals. Among the main directions of monetary policy, the following final goals can be identified, which are directly related to the level of national economic security: growth of real production, moderate expected inflation, balance of international payments, maximum employment. The main tools of wartime monetary policy are defined and the necessity of implementing wartime monetary policy is revealed. War always causes significant damage to the economic and financial stability of the country. One of the most striking consequences of this is the strong inflationary pressure in Ukraine after Russia’s military aggression. This economic indicator seriously affected the life of the population and the general economic development of the country. The priorities of the monetary policy of the National Bank of Ukraine during the war years are the maximization of Ukraine’s defense needs and the reliable functioning of financial markets, ensuring the smooth operation of the banking and payment systems, curbing inflation and maintaining the economic stability of the hryvnia, and ensuring the necessary level of international reserves. The facts confirm that monetary policy is a catalyst for ensuring the country’s financial security and plays an important role in this process. The economic difficulties that Ukraine will face after the war require a number of measures to ensure macroeconomic stability and prevent panic. These measures need to be studied in detail in future studies.

The Role of Micro-Enterprises in the Four-Dimensional Framework of Women's Empowerment

Purpose
 This paper empirically evaluates the impact of micro-enterprises on women's empowerment. Subsequently, it assesses the mediating role of the performance of micro-enterprises on a four-dimensional model of women's empowerment.
 Design/ Methodology/ Approach
 A quantitative research approach and a cross-sectional research design were adopted in the study. Survey research and purposive sampling technique were used to select 384 individual respondents (women entrepreneurs under the Kudumbashree Mission of Kerala state in India). The data gathered from a structured questionnaire was used for confirmatory factor analysis, model fit evaluation, and making a structural equation model to test the proposed relationship in the four-dimensional model of women's empowerment. The study explicates the relationship between attributes of micro-enterprises and women’s empowerment. The field data were analysed using SPSS and AMOS software.
 Findings
 Economic development will not happen unless women are empowered. In order to establish an enterprise more successfully and sustainably, women should be taught entrepreneurial skills, technical knowledge, skill training, and marketing skills. The study discovered a strong correlation between the performance of micro-enterprises and women empowerment attributes.
 Originality/value
 This study contributes to the literature by identifying how microentrepreneurs emerging from SHGs are achieving societal goals of women empowerment. It adds to the literature by providing a conceptual framework to aid researchers and policymakers in dealing with micro-enterprises and their impact on the empowerment of women in society.
 Research Limitation/ Implication
 Micro enterprises play an important role as they can contribute to women's empowerment by providing opportunities for employment. The study offers researchers and policymakers practical insights on how multi-facets of micro-enterprises influence different dimensions of women's empowerment. The study aids the government and policymakers in better understanding and implementing strategies to boost women’s micro-enterprises, resulting in the overall empowerment of marginalised women.
 Social Implications
 The study aims to create awareness among women about the various prospects for self-help groups, their intricacies, and the performance of micro-enterprises, thereby generating revenue. This, in turn, leads to the general economic development of a society.