Global Economic Environment Research Articles

Maison Margiela Brand Identity Change and the Embodiment of Brand Culture

In recent years, due to the bad global economic environment caused by the epidemic, many companies are on the verge of bankruptcy, but companies engaged in luxury goods have hardly received too much impact, which is a problem worth studying. Most luxury brands design products that are compelling enough for customers to keep spending. Because every luxury brand has its own long history, special brand style and brand long-term concept. This is crucial for the long-term development of luxury brands. But because of the long history of the luxury market, it is difficult to make some new changes to increase the number of consumers beyond loyal customers. Some brands choose traditional methods, do not carry out large-scale marketing, do not add new customers, choose to continue to sell goods to those loyal customers, and some brands choose to cooperate with other brands to increase awareness and expand the consumer base.

Research on the Effect of Organizational Culture of Chinese Youth Entrepreneurial Enterprises on Innovation Performance - Focusing on the mediating effect of organizational learning

In the era of knowledge economy, market competition is constantly changing, and enterprises are developing rapidly in China. With the strong support of the Chinese government for innovation and entrepreneurial activities, the entrepreneurial development situation is optimistic,especially as the main business enterprises to enter the stage of rapid development of youth entrepreneurship.However, while having opportunities, we can also see that the global economic competition environment is complex.Chinese youth entrepreneurs still need to improve their competitiveness and promote the development of innovative technologies. It is necessary for employees to continuously absorb knowledge culture and update their innovative technologies. This paper mainly studies the relationship between organizational culture, organizational learning and innovation performance of young entrepreneurs. 302 questionnaires were collected from Chinese entrepreneurial enterprises, and we uses SPSS and AMOS to analyze organizational culture, organizational learning and innovation performance, and shows the organizational culture affects innovation performance through organizational learning. Finally, in order to make a good organizational culture, enterprises need to continuously update their knowledge,improve the soft power of enterprises, to cope with the changing market environment, enhance the creativity of enterprises and their innovation performance.

The synergy effect of energy security and carbon-haze collaborative management: From the perspective of biased technological progress

It is important to ensure energy security and achieve carbon-haze collaborative management for sustainable development. Reducing imported energy dependence is necessary to maintain energy security, while its impact on environmental quality remains unclear. From the perspective of biased technological progress, this paper estimates the level of biased technological progress towards self-sufficient energy by a heterogeneous stochastic frontier analysis (SFA) function, and then empirically examines whether self-sufficient energy biased technological progress has a dampening effect on haze pollution and carbon emissions. It is found that: (1) Self-sufficient energy biased technological progress can effectively reduce haze pollution and carbon emissions, achieving a synergistic effect between energy security and carbon-haze collaborative management. (2) “Efficiency enhancement” and “quality improvement” are the essential mechanisms for the synergistic effect. (3) Environmental regulation, abundant resource and technology endowments can enhance the haze reduction effect. And the lower dependence on foreign trade and stable global economic policy environment are more conducive to achieving carbon-haze collaborative control. (4) In the Eastern and Western regions, self-sufficient energy biased technology can be sped up to alleviate haze pollution. The findings can enrich the research exploring pollution control from the perspective of biased technological progress, and provide policy recommendations for promoting high-quality development.

Praxeological and functional trends in improving the economic integration of the European Union: to the problem statement

This article analyzes the problems and trends of improving the economic integration of the European Union (EU) in modern conditions. It analyzes the key challenges that the EU faces in the process of deepening integration and creating a common market. Carrying out an in-depth review of economic integration in the EU, the article reveals the main challenges facing European leaders and institutions.
 The problems of the international economic integration of European countries into the system of relations of the European Union have recently become more and more urgent. The relevance of the chosen topic is determined by the fact that in the modern world, the problems of economic and international integration have gained importance, integration communities play an increasingly important role in global economic and political processes, accordingly, a constant analysis of their activities is necessary for timely amendments to the current, rapidly changing integration processes.
 First of all, the article focuses on issues of deep integration, such as the single currency - the euro, common fiscal policy and the European budget. The authors analyze how successful these initiatives were and whether they managed to achieve harmonization of the economic policies of all EU member states.
 The second aspect considered in the article is the issue of inequality between regions and countries within the EU. The authors analyze how regional differences in the economy can threaten the stability of the EU and what measures are being taken to reduce these inequalities.
 In addition, the article highlights the external challenges facing the EU in the context of geopolitical changes and global trade relations. It also examines the impact of various factors, such as Brexit and EU enlargement, on integration processes.
 The article highlights key trends such as the strengthening of the role of the euro, the development of the digital single market and the expansion of common rules and regulations. Attention is also drawn to the influence of new members and possible withdrawal from the EU on the integration process.
 The general conclusion of the article is that the economic integration of the European Union remains important and relevant, but requires constant adaptation to changes in the global economic environment. To ensure stability and prosperity, the EU needs to constantly improve its integration strategies and find solutions to the important problems it faces.

The Role of Modern Information Technologies in Financial Analysis and Market Forecasting

"Modern information technologies have undergone significant transformations and have become a key element in financial analysis and market forecasting, which have created new tools for influencing the dynamics of the development of global economic processes. The strengthening of the role of technologies of big data analysis, processing of communication and information networks create new approaches to the implementation of financial analysis, ensuring greater accuracy of forecasts and efficiency of investment management. The purpose of the article is to study the role of modern information technologies in the transformation of financial analysis, forecasting and identification of trends facing financial analysts. The article describes the process of technology integration, which significantly increases the efficiency of financial market analysis and allows governments and companies to better adapt to the changing conditions of the global economic environment. The obtained research results indicate a steady trend towards increasing the role of information technologies in the financial sector, which requires specialists to constantly update their knowledge and skills for the effective use of these tools. The conclusions of the conducted research emphasize the importance of integrating technologies into financial analysis and forecasting, and strengthening the need to develop new strategies and approaches for using digital innovations in the financial sphere. Special attention in the article is paid to the prospects of development of software, information and communication sphere in providing financial analysis and forecasting to improve future innovative trends and challenges that may face the economic global space."

Evaluating Symmetric Causality between External Debt and Macroeconomic Variables in Nigeria

Within the global economic environment, the common pursuit of sustainable growth, infrastructure development, and poverty reduction prevails. However, the Nigerian government has encountered significant hurdles in its efforts to attain macroeconomic stability and the necessary conditions for economic prosperity. Consequently, the government has turned to external sources, primarily through debt acquisition, as a solution. This reliance on external debt is rooted in Nigeria’s struggle to effectively address the savings-investment gap, a challenge driven by various factors, including limited domestic savings, insufficient foreign exchange earnings, poor productivity levels, and inadequate tax revenues. Despite the visible increase in Nigeria’s external debt in recent times, noticeable improvements in macroeconomic indicators have remained elusive, raising questions about the effective allocation of these borrowed resources. In response to this discord, this study delves into the complex interaction between external debt and macroeconomic variables within the Nigerian economy. By employing a thorough analysis using the symmetric - Granger (1981) causality framework, covering the period from 1986 to 2020. Except for economic growth, which shows a causal relationship with external debt, the results showed no causal relationship between external debt and investment, economic growth, or exchange rate. Consequently, these results emphasize the importance for the government to explore alternative means of obtaining funds, rather than relying extensively on external debt, especially when pursuing projects with productive objectives.

Chinese Perspectives on the Rule of Law in International Economic Law

Abstract In the currently volatile global economic environment, China’s perspectives on the rule of law in international economic law are of significance. In principle, China shares developing countries’ attitudes towards international economic law. China also seeks to play a constructive role in the development of international economic law, endorsing a flexible and pragmatic approach. China has concluded international trade and investment treaties designed to constrain its policy space and is an active supporter of the World Trade Organization’s dispute settlement and investor-state dispute settlement mechanisms, with a good record of compliance. Recent trade tensions demonstrate challenges for the international rule of law but also emphasise the role of law in overcoming political challenges.

The role of digital technologies in enhancing competitiveness in the context of Ukraine's economic integration

Introduction. In today’s world, the role of digital technologies in enhancing competitiveness is becoming an important issue, as they not only transform business processes but also determine the success of a country in the context of economic integration. Digital technologies not only help to increase the efficiency of enterprises, but also open new opportunities for innovation, making them an important tool for improving competitive positioning in the global economic environment. The purpose of the paper is to examine the peculiarities of the use of digital technologies by modern enterprises, considering their impact on increasing competitiveness in the context of Ukraine’s economic integration. Results. The study reveals the essence of the concept of "digital technologies" and identifies their main advantages and risks in the use by modern enterprises, in particular, the impact on the efficiency of business processes and potential threats in the field of cybersecurity. The article also assesses the use of digital technologies by global enterprises. Special attention is paid to the analysis of the level of digitalization in Ukraine. The main problems faced by Ukrainian enterprises in the context of martial law and economic integration are identified. Specific ways to solve these problems are proposed the importance of improving cybersecurity, increasing digital literacy and implementing innovative strategies is emphasized. Conclusions. Prospects for further research in this area include expanding the analysis of the impact of digital technologies on various sectors of the economy and business, detailing specific examples of successful implementation of digital initiatives in enterprises, as well as further studying the integration of digital technologies in the context of martial law and military aggression in Ukraine.

Inisiasi Pembentukan Angkatan Siber dan Digital dalam Organisasi Tentara Nasional Indonesia

In the era of digital transformation, every country in the world must be able to adapt and adopt these changes as a strategy to strengthen national defense because cyberspace in relation to international relations can be a source of various potential threats, vulnerabilities, and insecurity in the international order. China recognized the importance of AI in shaping the future global economic, military and geopolitical environment, and launched the "Next Generation Artificial Intelligence Development Plan." which aims to become a global leader in AI by 2030. The research method used is prescriptive analysis and qualitative data analysis. Based on the results of the study, there are 4 (four) important points to realize this, namely the alignment of regulations related to cyber and digital in Indonesia with the initiation with revisions both in the form of proposed new articles and / or reviews in Law Number 34 of 2004 concerning the Indonesian National Army, then digital infrastructure development in Indonesia, digital literacy development in Indonesia, and appropriate personnel mobilization strategies based on the state of human resources in Indonesia.

Effectiveness of constitutional review of economic reforms: Practices of different countries and ways of improvement

Relevance. The subject of the study on constitutional review of economic reforms is relevant, as it concerns the principal aspects of legal regulation of the economy and requires the search for modern approaches to harmonise constitutional principles with economic changes in the context of constant challenges of the global economic environment. Purpose. The purpose of this study was to analyse the practices of constitutional review of economic reforms in different countries to identify successful practices and develop proposals for their improvement. Methodology. The study employed analytical, functional methods, method of system analysis, deduction, synthesis, and method of comparison. Results. The study analysed the role of constitutional review in the context of economic reforms, examining its impact on protecting the fundamental rights and freedoms of citizens, ensuring the constitutionality of legislation, controlling the actions of the executive, and combating arbitrariness and corruption. The study compared different approaches to the organisation of constitutional review, identifying their effectiveness in addressing economic challenges. Cases of successful and unsuccessful cases of constitutional review in different countries were examined, identifying factors affecting its effectiveness. The study highlighted the significance of ensuring the independence of constitutional bodies, the introduction of technology to streamline procedures, and active engagement with international practices and international research projects. Conclusions. The study concluded by suggesting ways to improve constitutional review through the introduction of procedural improvements, educational programmes, international practices, and the strengthening of constitutional review institutions to better follow constitutional principles in a changing economic environment. The practical significance of this study lies in the fact that the proposed ways of improving the constitutional review of economic reforms can serve as a basis for the development of effective mechanisms that promote more flexible and adaptive regulation of economic policy.

Factors Affecting Employee Retention of Private Companies in Cambodia by Qualitative and Quantitative Approach

Employee turn-over is often associated with “employee retention”. Employee retention plays an important role to keep up with other companies amidst the rapid evolvement of global economic environment. The objectives of the study are to understand the importance of employee retention, assess the factors affecting retention of private employees in Cambodia such as compensation, promotion and opportunity and growth; work environment, training and development and work-life balance and job satisfaction thus provide suggestions to private companies on what to undertake to retain its employees. The researcher employed model synthesis to determine the factors affecting employee retention from previous researches. Then, the researcher applied Delphi method technique to identify the significant factors according the experts. Pilot testing was conducted with 43 sample size. After pilot testing, the researcher surveyed 420 respondents using disproportionate stratified random sampling technique equally distributed to financial services, manufacturing, tourism and hospitality industry; education, retails and others (professional services, hospital, construction etc.). However, there were only 410 samples qualified to the analysis. The research model and research hypothesis were successfully tested by Confirmatory Factor Analysis (CFA) and Structural Equation Modelling (SEM) using SPSS and Amos 26. Based on the study “job satisfaction” is driven by compensation and work-life balance. They are the significant and the most influencing factors that make private employees stay in a company. Work environment, promotion, opportunity and growth; and training and development are the least significant factors affecting employee retention. However, according to the experts during in-depth interview, the factors vary from one person to another individual needs.

Risks and Control Measures in Enterprise Investment Management

As an important component of China's economy, the investment management level of state-owned enterprises directly affects their operational efficiency and market competitiveness. However, in the increasingly complex and volatile global economic environment, the investment management of state-owned enterprises is facing increasingly severe challenges. The traditional investment management models and methods are no longer suitable for the needs of modern markets, and there is an urgent need to improve the level of investment management through optimization and innovation. This article takes state-owned enterprises as the research object, deeply analyzes the main risks they face in investment management, and proposes targeted countermeasures. This not only helps to improve the investment efficiency of enterprises, ensure the safety and appreciation of state-owned assets, but also provides a solid foundation for enterprises to achieve sustainable development in the complex and ever-changing market environment.

ASSESSMENT OF THE IMPACT OF GLOBALIZATION ON THE REGIONAL DEVELOPMENT OF INNOVATION CLUSTER

The article delves into the complex dynamics of innovation clusters moving through the complex landscape of global trends and challenges inherent in the comprehensive process of globalization. The multifaceted influence of global factors on the evolution of innovation clusters within the framework of the modern economic situation is also meticulously studied. In the course of the analysis, a special emphasis has been placed on a detailed examination of the challenges arising as a result of the current processes of globalization and the rapid development of innovative technologies. The present research identifies the key role played by innovation clusters as integral components of regional development and essential contributors to the tangled web of global production chains. One of the most important findings is the reconciliation of local and global interests in the circumstances surrounding the establishment and operation of innovation clusters. It has also been determined that globalization is a stimulus for innovative development and the emergence of new challenges to ensure the sustainable competitiveness of regional clusters in the global economic environment has been substantiated. It is noted that countries where innovation clusters demonstrate successful integration into global production chains actively use the advantages of globalization to develop their regional innovation systems. The primary purpose of the analysis was to determine the factors contributing to the successful integration of clusters into global processes. These factors include effective cluster management, the development of a flexible innovation strategy, and the ability to adapt to changes in the global economic environment. The role of innovation management in the context of globalization is considered separately, in particular, the need for constant monitoring and analysis of global innovation trends.

Practicalities and dichotomies of education policy and practice of higher education in the Golden Triangle Area (Southeast Asia): Implications for international development

Following the paradigm of globalization and development as a means of achieving a better life from the domestic sphere to the international landscape, different stakeholders including scholars, researchers, practitioners, policy makers, and institutions have been focusing on better informed policy and practice with an embedded mission of international development. Educational policymaking and implementation processes of a nation-state are constrained by global economic and political environments. The ongoing status of educational efforts in each country and disputing factors to the implementation of the education policies were examined. In this study, systematic literature review was conducted on the research of higher education policy in line with globalization and internationalization to depict the practicalities and dichotomies in implementing the sectors at the Golden Triangle Area (Laos, Myanmar, and Thailand). The internationalization of higher education in Golden Triangle Area needs promoting its strategic advantage in offering business opportunities through government policies to further promoting as an affordable study destination and attracting international students from ASEAN countries. The factors affecting the higher education quality and capacity of Laos, Myanmar, and Thailand include the need for better quality, barriers to research capacity development, the policy process of quality assurance, and the initiatives for internationalization in all three countries.

УПРАВЛІННЯ СЕСТЕЙНОВИМ РОЗВИТКОМ У ВІЙСЬКОВІЙ ТА ПІСЛЯВОЄННІЙ ЕКОНОМІЦІ: СТРАТЕГІЧНІ РІШЕННЯ ДЛЯ ЕКОНОМІЧНОЇ БЕЗПЕКИ

The study identifies global and national challenges to sustainable development. In particular, global problems include climate change, infectious disease epidemics, population ageing, and human rights violations, which require cross-border cooperation between countries to be effectively addressed. The economic security of a country is determined by the state of the national economy, which makes it possible to maintain resilience to internal and external threats, ensure high competitiveness in the global economic environment and is characterised by the ability of the national economy to grow in a sustainable and balanced manner. The macroeconomic security of a country is characterised by indicators that reflect the stability and resilience of its economy, in particular, the growth rate of gross domestic product (GDP), inflation, employment (unemployment), public debt, and foreign trade balance. One of the components of the country's economic security is production security, which ensures the most efficient use of the country's existing production capacities, their modernisation and expanded reproduction. The following areas are highlighted as important measures for managing business activity under martial law and post-war recovery: strategic planning, risk management, crisis management, financial stabilisation, communication and cooperation, innovation and adaptation. Violations of rules, laws and regulations in areas such as employment, product and service safety, and public health have a significant impact on economic security through increased economic costs in the form of financial sanctions for businesses; loss of consumer confidence; threats to public health through the provision of unsafe products or services of poor quality; reduced investment; loss of competitiveness; and other negative consequences.

Study on the risk mitigation mechanism of China's small and medium-sized zombie enterprises withdrawing from the market

In recent years, the global economic environment is facing great challenges, especially the rapid development of digital economy, which makes a large number of small and medium-sized enterprises actively or passively adapt to the rapid changes of this society.Economic and social development and transformation and upgrading make a large number of enterprises constantly updated and eliminated. However, due to the imperfect relevant mechanism for withdrawing from the market, a large number of enterprises in the Chinese market are in the situation of bankruptcy but cannot withdraw from the market in time, and the creditor's rights and debt relations cannot be clarified in time.Combined with the reality of China, this paper analyzes the mechanism and risk of China's small and medium-sized zombie enterprises to withdraw from the market, and then puts forward the corresponding risk release mechanism.Such as the corporate governance system is relatively perfect enterprise in accordance with the relevant provisions of the bankruptcy law strict exit mechanism, the corporate governance structure of simple small micro enterprise is consider appropriate government intervention, but to avoid excessive positive government intervention, according to the market rules formulate corresponding local laws and regulations to solve the risk of small micro enterprise exit, avoid regional economic systemic risk.

Система протидії зовнішнім загрозам економічній безпеці підприємства

The aim of the article is to study and systematize approaches to the development of a set of measures aimed at countering external threats to the economic security of enterprise. The article analyzes the structure of threats to the economic security of enterprise and proposes a classification of external threats by the level of occurrence, the allocation of which at the organizational level of the subsystem of counteraction to external threats to economic security should be the first step towards improving the system of economic security of enterprise. The necessity of introduction of an information-analytical system at the enterprise, which should ensure prompt and continuous monitoring, as well as analysis of risk factors and their tendencies, is substantiated. Based on the results of the carried out study, it is proposed in the process of developing a set of measures to counteract external threats to the economic security of enterprise to take into account the classification of threats by the levels at which they occur. Thus, it is recommended to build a three-component set of measures to counter external threats, consisting of: a set of measures to counter threats to the competitive (sectoral) environment; a set of measures to counteract threats to the economic security of the enterprise that occur at the level of the national economy; a set of measures to counter global threats and threats occurring at the international level. An efficient system of counteraction to external threats to the economic security of enterprise will serve as the basis for ensuring the financial component of the overall economic security of the enterprise, ensure the development of its material and technical support and strengthening of competitive positions, and as a result, will become the basis for maintaining a high level of financial and economic efficiency regardless of changes in the sectoral, national-economic and global-economic environment.

EMPIRICAL RESEARCH IN BEHAVIORAL ECONOMICS

Introduction. The modern economic world, saturated with instability and uncertainty, requires new approaches to understanding and managing economic processes. In this context the relevance of experimental behavioral economics research is extremely important. Making economic decisions is not an exclusively rational process, because it is also connected with psychological factors that determine the behavior of subjects in the market and in management processes. Understanding these psychological aspects, their influence on decision-making and the development of strategies that would take these features into account become a key task in the conditions of the modern global economic environment. The relevance of the study of experimental behavioral economics covers not only practical application in various strategies and management decisions, but is also considered in the context of the formation of socially responsible economic policies and interaction between various market subjects. Research in this direction will contribute to the formation of more flexible and adaptive strategies aimed at achieving sustainable development in conditions of uncertainty and rapid changes. The purpose of the article is to highlight the key aspects of experimental behavioral economics, to reveal its essence and the importance of its application in the modern economic environment, ta analyse the psychological factors, that influence economic decision-making, and to determine the importance of experimental behavioral economics as a tool for management and development of modern economic strategies. Results. The general results of the study indicate the need to rethink traditional approaches in the modern economy and demonstrate the significance and practical value of experimental behavioral economics in the development and optimization of strategies in various spheres of modern society. Conclusions. The analysis of the conclusions, presented in the article, opens up new perspectives for further research in the context of the development of the theory of behavioral economics and its impact on economic practice.

ОСОБЛИВОСТІ ФОРМУВАННЯ СИСТЕМИ СТРАТЕГІЧНОГО УПРАВЛІННЯ ПІДПРИЄМСТВАМИ СФЕРИ ГОСТИННОСТІ В СУЧАСНИХ УМОВАХ

Strategic management in the hotel and restaurant business faces unique challenges during martial law. Exceptional circumstances characterized by instability and security problems require a strategic approach that would take into account the peculiarities of the current situation. Primary among these considerations is the need to assess the risks and threats associated with martial law, leading to the formulation of strategies that prioritize security and resource conservation. Given the constraints imposed by emergency circumstances, the development of contingency plans and future scenarios is crucial. The aim of the study is to analyze the effective system of strategic management of hospitality industry enterprises in the context of modern challenges and dynamic changes in the global economic environment. To solve the tasks set in the work, various research methods were used, including analysis and synthesis, comprehensive analysis, comparative economic analysis, and the method of description. The practical significance of the results obtained is the formulation of practical recommendations that can be applied to the HoReCa enterprise. These proposals are designed to strengthen the strategic management systems of institutions, which will ultimately contribute to the improvement and increase the efficiency of their activities in the future. The study identifies key challenges and opportunities affecting the hospitality industry in Ukraine under martial law and post-COVID reality. New trends in the management system of accommodation facilities have been characterized, including changes in approaches to strategic management. The impact of socio-economic transformations on demand and supply in the hotel business has been analyzed, with particular attention focused on the western regions of Ukraine adapting to domestic tourism. The main strategic approaches and management models that can contribute to the effective development of hospitality enterprises under new conditions have been grouped, and recommendations for the implementation of management strategies to ensure their stability and growth have been developed.

Survival in a Hostile Global Environment: Zimbabwe’s Alternative Gold Trade as a Soft Power Interventionist Tact

This paper examined the trajectory of Zimbabwe’s gold trade as a soft power strategy towards survival in the brutal global economic environment and explored the concomitant implications this has had on the country’s relations with the global North. Moreover, the paper demystified the Gold Mafia documentary as a means to taint Zimbabwe’s economic survival efforts. Of particular importance is how the neo-imperialist forces co-opted, criminalised and demonised Zimbabwe’s efforts to engage in gold trade with friendly states including China, United Arab Emirates and South Africa among others. In the Aljazeera documentary dubbed Gold Mafia, an attempt was made through plain media propaganda to make Zimbabwe’s governmental institutions accomplices in illicit gold trade and leakages. The idea was to make Zimbabwe appear as a country that lacks transparency and accountability in addition to non-conformity to the so-called international standards which are a mere popularisation of the Western established monopoly. Against this backdrop, it can be argued that the documentary was a means to a political end; the end being to demonise Zimbabwe’s soft power interventionist tact. Furthermore, the objective of the propaganda was to further isolate Zimbabwe as well as to chase away potential investors. With this said, this paper constitutes an epistemic contribution to knowledge on Zimbabwe’s soft power survival strategies, neo-imperialist counterstrategies and the way forward towards sustaining survival in the hostile global environment. Keywords: Gold Trade, Soft Power, Zimbabwe, Gold Mafia.