State Of Economic Activity Research Articles

УПРАВЛІННЯ ПІДПРИЄМНИЦЬКОЮ ДІЯЛЬНІСТЮ В ГАЛУЗІ СПОРТИВНОЇ ІНДУСТРІЇ ПІД ВПЛИВОМ ГЕОЕКОНОМІЧНИХ ВИКЛИКІВ

The article is devoted to the study of business management in the sports industry under the influence of geo-economic challenges. Economics in the field of the sports industry is a strategic tool for ensuring the sustainable development of modern society. The potential of the sports industry as a branch of the economy is greater dynamism of development, the ability to withstand economic fluctuations and the ability to overcome the consequences of economic crises. The business environment of the sports industry, in which business activities in the sports industry are managed, is characterized by unpredictable consumer behavior and illogical decisions. Against this background, the study of consumer motivation is the majority for understanding the economic mechanisms of business management in the sports industry. In the field of the sports industry, the supply forms the demand, accordingly, unique approaches to the management of business activities in the industry under the influence of geopolitical challenges are required. A scarce resource is human resources – physical capabilities, fitness, bodybuilding, etc. Along with powerful opportunities, this branch of the sports industry has significant critical risk factors under the influence of geo-economic challenges. It has been established that the management of business activities in the sports industry, as an environment for regulating state economic activity, is characterized by a dual nature. On the one hand, it is a sector of economic interests and entrepreneurship, but on the other, it is the sphere of social production of intangible goods, goods and services related to the sports industry. It has been established that the sports industry sector presents significant risk factors under the influence of geo-economic challenges that are characteristic of this type of economic activity. The article defines the mechanisms of minimizing the specified risks, which are created under the influence of geo-economic challenges in the management of business activities in the field of the sports industry.

Financial Globalization, Local Debt Markets and New State Financial Activism in Middle‐income Countries

ABSTRACTSince the global financial crisis of 2008–09, there has been a renewed interest in the role of the state in processes of financial development and globalization. This article explores new forms of state economic activity via the development of debt capital markets in Southeast Asia, specifically Indonesia and Malaysia. It suggests that the expanding profile of various state‐controlled entities in local capital markets constitutes a new form of state financial activism responsive to (upper) middle‐class consumption preferences such as modern infrastructure, urban housing and low‐risk investments. This activism highlights state agency and complicates the propositions of the emergent literature on state capitalism and financial de‐risking that focuses on increasingly close alignment of the interests of states and international portfolio investors. Accordingly, the authors caution against unilinear conceptions of the state in which activism is primarily geared towards accommodating the preferences of international investors. The article posits that states are actively trying to establish new market logics for the benefit of their domestic middle classes via the development of domestic capital markets, and that the emergent role of middle‐income country (upper) middle classes as financial consumers reconfigures processes of state‐managed financialization.

Municipal Net Revenue, Economic Activity, and the Cost of Borrowing

ABSTRACT We investigate the effects of state economic activity on the association of changes in the general fund (i.e., net revenue) and borrowing cost. Extant literature has established that net revenue is associated with municipal bond market metrics (e.g., true interest cost, bond yield spreads). Little is known, however, regarding the relationship between net revenue and borrowing cost when state economic activity is considered. Based on a sample of 1,970 general obligations bonds issued across 20 years by U.S. counties, we test whether the association between net revenue and borrowing cost is conditioned on state economic activity. We provide evidence that a state's economic activity moderates the association between net revenue and borrowing cost among county governments. Data Availability: All data in this article are available from public sources. JEL Classifications: G01; G12; H72.

Spatial dependence in regional business cycles: evidence from Mexican states

This study investigates how regional business cycles are spatially dependent in Mexico by developing a Markov switching model with a spatial autoregressive process. The Markov switching model with two regimes distinguishes business cycles between expansion and recession phases (i.e., high- and low-growth rate regimes). The objective of this study is twofold. First, this study aims to identify which states transitioned from expansion to recession during the Great Recession in 2008–2009. Second, it numerically examines the extent to which states that experienced this transition caused a deterioration in neighboring states’ economies. Employing Bayesian inference for the Markov switching model with quarterly data of state economic activity during the period 2003:Q1–2015:Q4, this study finds that Mexican states with higher manufacturing sector shares tended to be in recession during the Great Recession. Although some states experienced economic downturns in this period, they were not in a recessionary regime. This study also finds that business cycles across states were spatially dependent during the Great Recession. The numerical simulations of spatial spillover effects suggest that states that regime-switched from expansion to recession during the Great Recession caused a reduction in the quarterly growth rate of their neighboring economies by an average of 0.39 percentage points.

The Local Fiscal Multiplier of Intergovernmental Grants: Evidence from Federal Medicaid Assistance to States

Advocates of Medicaid expansion argue that federal Medicaid assistance to states fosters economic activity, generating positive local multiplier effects. Furthermore, during economic downturns, Congress regularly tweaks federal match rates for state Medicaid spending – including during the COVID-19 public health emergency – in order to assist states. Despite heavy reliance on Medicaid funding formulas, identifying the economic effect of these federal transfers has proved challenging. This is because federal Medicaid assistance (to states) is endogenous, since funding levels are correlated with unobserved factors driving state economic activity. To address this concern, we construct an instrument based on a slope discontinuity in the federal matching rate for state Medicaid spending. Using state-level panel data from 1990 to 2013, we find that federal Medicaid assistance does stimulate economic activity, but the implied cost per job created is quite high and the multiplier is well below 1. Despite modest economic effects over the entire sample period, we find that federal Medicaid assistance provided powerful fiscal stimulus to states after the Great Recession when the implied multiplier shot up to 1.5.

Zmiany organizacyjno-prawne przedsiębiorstwa państwowego w okresie Polskiej Rzeczypospolitej Ludowej

In Poland, during the People’s Republic of Poland, the policy of central management of the economy was based on the principles of unity of state power and unity of state property. They constituted the foundation of the state sector and the state economic activity. State-owned enterprises, strongly subordinated to public administration bodies, were the leading form of economic activity. The authoritarian state controlled not only the process of enterprise creation, liquidation and supervision, but also the enterprises’ operational activities. Strong state supervision and lack of responsibility for financial results were the main reasons for their low profitability, which in turn brought about attempts to reform the legal structure of the state-owned enterprises. The aim of the article is to show the legal and organizational changes in state-owned enterprises that are to produce an increase in economic efficiency. Based on the historical-legal method and the grammatical interpretation of the law, it was shown that the reforms undertaken in the field of the organization of state-owned enterprises were not effective.

Effects of the COVID-related stay-at-home order on hospitality sales and automobile traffic counts: evidence from the State of Maine, USA

This paper examines the effects of the COVID-related Stay-at-Home order on hospitality sales and automobile traffic counts in the State of Maine, USA. Empirical results show that the Stay-at-Home order did not have a statistically significant impact on either measure of state economic activity. Instead, households adjusted their behavior as a result of COVID-19 in advance of the Stay-at-Home order. This is an important public policy issue given the large health and economic impacts of the pandemic, and widespread use of Stay-at-Home orders. Even beyond the COVID pandemic, however, the extent to which people respond to government restrictions is important for policy development and implementation.

The Local Fiscal Multiplier of Intergovernmental Grants: Evidence from Federal Medicaid Assistance to States

Advocates of Medicaid expansion argue that federal Medicaid assistance to states fosters economic activity, generating positive local multiplier effects. Furthermore, during economic downturns, Congress regularly tweaks federal match rates for state Medicaid spending – including during the COVID-19 public health emergency – in order to assist states. Despite heavy reliance on Medicaid funding formulas, identifying the economic effect of these federal transfers has proved challenging. This is because federal Medicaid assistance (to states) is endogenous, since funding levels are correlated with unobserved factors driving state economic activity. To address this concern, we construct an instrument based on a slope discontinuity in the federal matching rate for state Medicaid spending. Using state-level panel data from 1990 to 2013, we find that federal Medicaid assistance does stimulate economic activity, but the implied cost per job created is quite high and the multiplier is well below 1. Despite modest economic effects over the entire sample period, we find that federal Medicaid assistance provided powerful fiscal stimulus to states after the Great Recession when the implied multiplier shot up to 1.5.

Влияние COVID-19 на креативные индустрии

Introduction. This study analyzes the impact of the new COVID-19 coronavirus infection on the creative industries in the Russian Federation, as well as finding solutions to support this area in the context of the pandemic. Theoretical analysis. Since the latest imperatives of the current world processes dictate the need for structural changes in the state economic activity, the actual principle of the economic activity organization can be called the creative industries concept development, which include industries related to the creation of a certain cultural or creative product, IT-sphere, fashion and design, advertising and marketing products, as well as folk art and craft. Due to the relevance of the creative industries development, modern research on the theory of creative economy development pays great attention to the study of the specifics of this activity and ways to improve it. The article provides a theoretical analysis of the crisis in the creative industries, as well as a detailed analysis of the opportunities and threats of the crisis. Empirical analysis. Based on the analysis of the activities of companies in the creative industries, the authors of the article identify opportunities for the development of companies in the creative sphere in terms of economic and social efficiency. New trends in the transformation of business processes in various fields (theatre, film industry, music, exhibition and Museum activities) are considered. Results. Based on the analysis, it is concluded that the urgent tasks in the situation of forced quarantine measures are the timely transformation of creative industries with the use of information technologies, the transition to online areas of interaction with consumers, as well as state support for creative industries most affected by the crisis.

Analysis of client satisfaction - A case of customers’ containment availing services from Micro Finance Institutions

The financial well-being of the people living in society is pivotal essential for the country's economic development. The distribution and access to wealth played important role in the economic activities of states. Micro-financing strategies utilized globally to promote distribution and circulation of money, increase access of people living in the low quintile of economic status to the wealth. Similar to global trends, the microfinance strategy was introduced, which is a rapidly growing sector in Pakistan for the last few decades. There are more than 45 registered micro-finance institutions (both for-profit and not-for-profit) that provide services to people at the low-income level in Pakistan. The current study analyzed the level of client satisfaction between private, public, and non-government organization Micro-Finance Institutions (MFIs) operating at District Hyderabad of Sindh, Pakistan. The sample size of 300 clients receiving services from these MFIs, data collected by using random sampling technique on the instrument Likert Scale ranged from 1-5. The collected data processed through scientific methods factorial analysis, customer satisfaction index, and ANOVA. The results of the study presented that clients of non-government MFI are more satisfied as compared to public and private MFIs, male clients are more content to female, changes in family size and education change the level of client satisfaction, where age and monthly household income do not affect client satisfaction. In light of the study, it is recommended for MFIs to initiate client-centric policies especially in the public sector focus on the client glee in the response of services. In the micro-finance industry, female clients are the backbone; it is highly recommended to keep them in the center of attention during the development of policies to increase satisfaction levels.

ANALISIS PRODUKSI DAN PEMASARAN JAGUNG MANIS DI KELURAHAN KLAMALU DISTRIK MARIAT KABUPATEN SORONG PROVINSI PAPUA BARAT

Agriculture is the main sector of Indonesian people's livelihoods. The agricultural sector is able to contribute directly to economic growth and the welfare of farm households. And is one of the pillars of the national economy. This means that the agricultural sector plays an important role and should be a driver of state economic activity. Based on 2005 BPS data, the population working in the agricultural sector numbered around 41,309,776 people or 39.02 percent of the total population of productive age, while the remaining 60.98 percent was spread in various sectors outside agriculture. This study aims to (1) Know the sweet corn production produced by farmers (2) Know the factors that influence the amount of sweet corn production (3) Know the marketing of sweet corn from farmers. The method used in this research is descriptive method with survey techniques. The sampling method in this study was carried out by simple random sampling (simple randon sampling) on corn farmers. based on research results obtained. The average production produced from sweet corn farming in Klamalu Village, Mariat District, Sorong Regency is 1,827 kg / ha in one planting season, with an average land area of 0.39 Ha. The production has not reached maximum results because it has not been matched with the right cultural technology. Based on multiple linear regression analysis, it can be seen that the most influential on sweet corn production variables is the land variable with a regression coefficient of 3,492,641 (31 percent). Work outflow variable has positive and significant effect with regression coefficient value of -0.013 (39 percent). While the variable capital costs have a negative and significant effect on production. This can be indicated by a significant value (P value) of 0,000 which is smaller than 0.05. In testing hypotheses using the F test (together or simultaneously) it can be explained that the five variables namely price (X1), production costs (X2), land (X3), production (X4), transportation costs (X5) and competitor prices (X6) together affect the bid (Y). This is indicated from the calculated F value of 11.186 with a significance number (P Value) of 0.047. The coefficient of determination (R2) produced is 0.64. This means that 64 percent of the change in the supply variable (Y) can be explained by changes in the land variable (X1), capital (X2), work flow (X3), together, while the remaining 36 percent is explained by other variables not available in this research. There are only 2 sweet corn trading channels in the Kelurahan klamalu Mariat District, namely: Consumer Farmers; Pedagag Farmers Consumer Retailers. The average profit received by farmers is greater than Rp. 21,884,309, compared to farmers who sell sweet corn products at retailers only at Rp. 568,167. Based on the calculation results, the efficiency of the trading system obtained by retailers is greater than 100% which is 1,170%. This shows that the trading agency is efficient. Based on the results of the study, there are several obstacles faced by farmers in the Klamalu District of Mariat District, Namely: The capital owned by farmers is limited, 2. Availability of fertilizer which is not always available, 3. The absence of marketing institutions in the form of cooperatives and traders, 4. Marketing areas that are limited.

Political Consequences of Economic Hardship: State Economic Activity and Polarization in American Legislatures

Abstract Previous literature has explored the effects of economic conditions on voting behavior. In this article, I analyze how the economy affects legislative polarization. Using recently available state legislator ideal point estimates, I find a strong negative relationship between state economic activity and political polarization. States that fared worse economically have experienced greater increases in legislative polarization. I show this relationship is causal by employing an instrumental variables strategy. The instrument isolates exogenous variation in state economic activity by exploiting time-series variation in oil prices, which differentially affects individual states according to their economic dependence on oil production. The estimated polarization effects are stronger for Republicans. The findings have implications for understanding the interaction between the economy and political outcomes. (JEL H7, H83).

PERANAN UANG DALAM PERSPEKTIF SYARIAH ISLAM

The role of money is very important in human life. Without money, economic sector will not play the role and functioning as it should. Moreover, the modern economy, the trading bank system plays a role in determining circulation of the amount of money. so as to be able to influence money above the level of the State's economic activity. For a long time economists realized that money could have good and bad effects on the existing economy. Excessive offers cause inflation.However, in times of high unemployment, the addition of money can be a stimulant in accelerating economic growth. At this time economists agree that the money available in the economy is very influential in determining stability and economic growth.Furthermore, the existence of the money function is regulated by the government’s policies. In addition, there are also various banks that are used as a forum for the public to support the circulation of money in the State.Keywords: History, Type, and money function.

The Economics of a Targeted Economic Development Subsidy

In an effort to spur economic growth and to burnish their job-creation bona fides, policymakers at the federal, state, and local levels often dispense targeted economic development subsidies. These selective incentives include targeted tax relief, targeted regulatory relief, cash subsidies, and in-kind donations of land and other valuable goods and services. The weight of economic theory suggests that these subsidies do not work and may even depress economic activity. In this paper, we review the economic case for and against targeted economic development subsidies, using Wisconsin’s $1.2 billion to $3.6 billion subsidy to Foxconn to illustrate these points. We show that under realistic scenarios the subsidy may depress state economic activity by tens of billions of dollars over the next 15 years.

КОНЦЕПТУАЛЬНІ ОСНОВИ УПРАВЛІННЯ ОРГАНІЗАЦІЙНИМ РОЗВИТКОМ ТЕХНОЛОГІЧНИХ ПРОЦЕСІВ ПІДПРИЄМСТВ МАШИНОБУДІВНОГО КОМПЛЕКСУ

In the article investigated the essence of enterprises technological develop-ment and defined its directions, tasks, conditions and results. Substantiated similarities and differences of categories "technological development" and "technological processes development". Conducted analysis existing approaches to defining the "technological process" concept and its consideration as a system. Characterized the main structural components of technological process. The basic principles of the technological processes’ system-component development concept of the machine-building enterprises are offered and defined. It is concluded that a modern machine-building enterprise can be studied as a complex organized system, the components of which are constantly changing, being in interaction with each other. It is theoretically substantiated that the technological development of machine-building enterprises involves the improvement of the production process, search for new technological solutions, modernization of fixed assets, development and implementation of new technological processes, new information technologies, computers and modern actuators. It is proved that the technological development of the enterprise is determined by the efficiency of reproduction of innovations, which are reflected in the main factors of production, in the structure of their management, as well as in new products. It should be aimed, on the one hand, at maintaining the proper condition and development of the technical and technological base of the industrial enterprise, and on the other - at the stable use of new advanced technologies in all spheres of economic activity of the business entity. It is concluded that increasing the level of technological development of the machine-building enterprise is a transition to a new state of economic activity with efficient use of existing resources and factors of production, research and development, improvement of management system, employee motivation. It is substantiated that the development of effective management mechanisms in the direction of ensuring the development of technological processes of machine-building enterprises requires, first of all, the formation of conceptual foundations of management processes.

Regulatory Globalisation as a Contested Phenomenon – Case of Electricity Sector Reform in the State of Andhra Pradesh, India

In 1993, India adopted the neoliberal World Bank model for the electricity sector, which endeavoured to privatise the state owned sector. The move to privatise was prompted by sectoral losses owing to politicisation of provision and inefficient management of the state owned utility. This transition from a ‘welfare state’ to a ‘regulatory state’ was sought to be achieved through legislative enactment. By tracing the province of Andhra Pradesh’s implementation of the reform legislation, the paper evolves an alternate narrative of the reform process, as opposed the World Bank’s narrative of legislative enactment signalling the reception of its regulatory model. It argues that focussing on resistance to reform and actual ‘reception’ as opposed to formal enactment will counter the assumption of triumph of the neo-liberal worldview of the role of the state in economic activity.

The quantitative effects of tax foresight: Not all states are equal

This paper explores the effect of federal tax news on state economic activity. We estimate a factor-augmented vector autoregression (FAVAR) model, which allows us to consider the possibility that unobserved factors – such as credit and fiscal conditions – might be relevant for modeling the dynamic response of aggregate and state-level economic activity. We identify tax foresight as a shock to the implicit tax rate, measured by the yield spread between the one-year tax-exempt municipal bond and the one-year taxable Treasury bond. Our results suggest that an increase in the implicit tax rate raises national output over much of the anticipation period. In addition, anticipated tax increases give rise to expansions in state personal income and employment. We find that the variation in the responsiveness of economic activity across states is mostly explained by differences in industrial composition and income distribution, as well as by some demographic characteristics such as median income and education. Finally, using a proxy for exogenous changes in federal tax revenues, we investigate the dynamics of state-level personal income and employment. Our results point to considerable heterogeneity in the response across U.S. states. Moreover, they reveal that the long-run multiplier for an anticipated increase in tax revenues is about a tenth of the short-run multiplier for an unanticipated increase in taxes.

The Quantitative Effects of Tax Foresight: Not All States Are Equal

This paper explores the effect of tax news on state economic activity. We estimate a factor-augmented vector autoregression (FAVAR) model, which allows us to consider the possibility that unobserved regional factors — such as credit and fiscal conditions — might be relevant for modelling the dynamic response of aggregate and state-level economic activity. We identify tax foresight as a shock to the implicit tax rate, measured by the yield spread between the one year tax-exempt municipal bond and the one-year taxable Treasury bond. Our results suggest that an increase in the implicit tax rate raises national output over much of the anticipation period. In addition, anticipated tax increases give rise to expansions in state personal income and employment. We find that the variation in the responsiveness of economic activity across states is mostly explained by differences in industrial composition and income distribution, as well as by some demographic characteristics such as median income and education.

Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe

The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not always equally shared across society, and it has now slowed dramatically in many countries of the region.

Sentiments and Economic Activity: Evidence from US States

Abstract We examine whether sentiment influences aggregate demand by studying the relationship between the Michigan Survey expectations concerning national output growth and future economic activity at the state level. We instrument for local sentiments with political outcomes, positing that agents in states with a higher share of congressmen from the political party of the sitting President will be more optimistic. This instrument is strong in the first stage, and our results confirm a positive relationship between sentiments and future state economic activity that is robust to a battery of sensitivity tests.