Author: Cristina CHIRVAS
Abstract: The impact of the diaspora on the development of the state of origin is a topic that appeared relatively recently in the areas of interest and on the public agendas of the states. Currently, throughout the world, the diaspora represents an active force, involved in almost all areas of activity of a society, which tends to develop and maintain multilateral ties with political, social and cultural institutions in the country of origin or destination. Since the 1990s, more and more states have launched various initiatives at the governmental level in order to attract the development potential of the diaspora. However, often factors such as the availability of institutional means, available time, the needs, desires and capacities of diaspora members to engage in such activities, reduce the panoply of viable options regarding the state's implementation of diaspora-related development objectives. The given article aims to summarize the ways of interaction of the states of origin with the diasporas, to identify the opportunities and challenges of the various policies implemented in the field of the diaspora and to structure examples of good practices applied at the international and national level.
Keywords: diaspora, state of origin, diaspora engagement policies, development
JEL Code: F22, F63, J68
Pages: 6- 17 | Full text (PDF)
Authors: ARAVAMUDHAN Varadaraj, SAI MOHANRAJ Prasanna, SENGODAN Ananth
Abstract: The unexpected COVID-19 outbreak has threatened the world and derailed the socio-economic lives of people. In this context, this study is aimed to discuss the implications of COVID-19 in textiles sector in India along with major issues and challenges on demand and supply sides. This study determines the impact of crisis which affected demand and supply in textiles and fashion industry. COVID-19 has several implications for this industry, be it from demand or production. Its presence is observed in different aspects of the industry. This study uses secondary data collected from various sources like studies published in peer-reviewed journals. This study focuses on the need to think differently to deal with this unexpected crisis. Relaxation of tax compliance rules and deadlines, especially for small-scale segments is one of the potential solutions, so that the conditions of customer demand are not affected directly. In addition, more comprehensive financial relief package could be announced for textiles sector, considering the export- and labor-intensive processes to stem the adverse effects of pandemic. Rebates on exporters could be the next major step against the remission of taxes or duties on exports. This study was conducted during the COVID-19 crisis. More studies would be needed in post COVID era to generalize the findings. The combative measures and actual impact may be evolutionary and dynamic. The analysis focuses on the “out of the box” thinking to deal with unexpected crisis, but it may have different aspects to be discussed as the crisis unfolds. There is a lack of significant research on the impact of COVID-19 on textile industry in India. This study could be the stepping stone for researchers to study the impact on textiles sector and help policymakers to prepare for unexpected crises in future.
Keywords: textiles sector, COVID-19, textiles and fashion industry, demand and supply sides, textiles industry in India
JEL Code: L67
Pages: 18 - 29 | Full text (PDF)
Author: Mariana RADOV
Abstract: The article highlights the importance of business and management consulting field and its current trends, especially in the context of pandemic and worldwide changes. The author highlights the role of consulting in accelerating best practices in collaboration, flexibility, inclusion, and accountability to its clients in order to create a better future for all, and also includes a statistical analysis of the development of consulting on a global and European scale, outlining the most important indicators according to the nature of the services rendered, the locations of the clients, and the types of client’s industries. The author argues that the trends show that consulting is becoming an increasingly important component of the business environment, and that the emergence of new economic sectors and professions will condition the need to develop new capacities and apply new managerial knowledge and tools, which will stimulate the growth of both consulting and related fields. The article provides data on the development of the consulting in the Republic of Moldova, including the difficulties faced by the companies. Author believes there is "room for growth" in the national consulting despite the fact that it is a young market marked by the challenges facing society and influenced by the small size of the national economy. The author believes that the future of it will be profoundly influenced by remote work and digitization, service export, collaboration, and improved quality.
Keywords:business, management consulting, trends, collaboration, digitalization, industry regulation.
JEL Code: L84, O14, O19, O50, O52, Y10.
Pages: 30 - 49 | Full text (PDF)
Authors: Adil MSADY, Mohsine AIT CHEIKH, Adam CHATI, Zakaria EZ-ZARZARI
Abstract: In recent years, we have been witnessing a succession of economic, financial and health crises on a global scale, the most recent being the 2020 COVID-19 health crisis. Monetary and macroprudential stability policies have been implemented in order to address the harmful effects of these crises on both capital markets and the real economy. In addition, central banks have innovated and mobilized the arsenal of instruments at their disposal for the implementation of new “so-called unconventional” monetary policies in order to influence the economic and financial behavior of private agents and strengthen resilience of SMEs. The aim of the paper is to study the efficiency of traditional monetary measures and emphasize the role of innovative tools in driving the economic growth. various “unconventional” monetary policy measures put in place by the monetary authorities to stimulate economic growth, absorb health and financial shocks and strengthen the resilience of SMEs are analyzed.
Keywords:Unconventional monetary policies, SMEs, monetary policies, central bank
JEL Code: E20, E50
Pages: 50 - 67 | Full text (PDF)
Author: Olesea SPEIAN
Abstract: Governments need money for good functioning. Following the COVID – 19 pandemic and the energy crisis, finding sources to cover the budget deficits has become a real challenge. One of the ways of accumulating funds is by issuing government securities through auctions. Thus, countries are continuously concerned about developing the domestic debt market to decrease the dependence on external creditors. The primary dealer system is the most widespread form of cooperation between the issuer and investors. The main goal of the research is to show the influence of the primary dealer system on the development of the government securities market. In order to meet the requirements of the debt manager’s office they have to fulfil certain obligations. Despite the quantitative obligations of the primary dealers, the analysis focuses also on their qualitative aspects. Also, the paper presents a practical experience for selected countries regarding the evaluation of the activity of the primary dealers. The results of this research show a dependence between the development of the domestic government securities market and the methodology for evaluating the activity of the primary dealers.
Keywords:government securities, primary dealers, obligations, evaluation, auction.
JEL Code: D44, G18, H63
Pages: 68 - 81 | Full text (PDF)
Author: Liudmila LAPIȚKAIA
Abstract: The development of the audit services market is an indicator of the development of the economy of any country. Since, on the one hand, audit firms as economic agents conduct their business and various changes in such an environment appropriately affect the financial performance of such firms. On the other hand, audit firms express their opinion on the financial statements of various audited enterprises and the types of such opinions can reveal a picture of the state and disclosure of financial information of enterprises. It should be noted that in the Republic of Moldova, the audit market has both common features related to the world market of audit services, and there are national peculiarities. Conducting a study of the audit services market, the author analyzed various indicators of audit firms of the Republic of Moldova, both financial and non-financial, as a result of which conclusions were drawn about the peculiarities of the development of the audit services market in the Republic of Moldovaаnd the prospects for the development of this market in the future.
Keywords:audit, analytical indicators, audit services market, IAS, audit firms.
JEL Code: М42
Pages: 82 - 91 | Full text (PDF)
Author: Marilena-Oana NEDELEA
Abstract: The purpose of this paper is to examine the historical roots of the Chinese legal system who is one of the oldest in the world. China's legal system is largely a civil law system, although found its root in Great Qing Code and various historical system. The analyses of the Chinese law documents led to results that largely confirm that the Chinese have written their own laws since ancient times, a peculiarity which compares them, for the historical and characteristic period, with the Romans. Chinese law is a legal system integrated into a certain philosophical conception, namely Confucianism. The research methods used were: analysis, synthesis, deduction, analogy and comparison. The analysis of the Chinese legal system have allowed to reveal that different branches of law as civil law, family law, administrative law, and criminal law have some peculiarities in ancient Chinese laws that were presented in this article.
Keywords: law, ancient China, civil law, family law, administrative law, criminal law
JEL Code: K39, K30
Pages: 92 - 102 | Full text (PDF)
Author: Dok Hee OH, Kyung Sook GIL
Abstract: The article discusses changes in the foreign economic policy of the Republic of Korea in connection with the deterioration of international trade at the beginning of the XXI century. The direct motive for changing the foreign economic policy of the Republic of Korea is the decline in the role of the WTO as a multilateral trading partner. On the other hand, FTA, based on economic cooperation between the two countries, is becoming a new model for economic development and cooperation in the XXI century.
Bilateral negotiations are more likely to end than multilateral ones, because they are actively conducted in accordance with the interests of two countries. Therefore, free trade agreements (FTAs) are becoming the main direction of the economic policy of the Korea’s government to adapt foreign economic policy and overcome the negative trend of global economic development. An FTA has various economic effects, such as the development of trade between two countries, improving the efficiency of resource allocation, reviving investment between two countries and stimulating economic growth. In accordance with this situation, the Republic of Korea justifies the relevance of trade and economic cooperation between two countries through the conclusion of an FTA as a means of implementing an active foreign economic policy.
The Republic of Korea has become an opportunity to introduce an advanced economic structure through the signing of free trade agreements with advanced countries. On the other hand, it served as an opportunity to strengthen economic cooperation through the signing of free trade agreements with developing countries. For this reason, the experience of the foreign economic policy of the Republic of Korea can serve as a good example for the economic development of developing countries.
Keywords: bilateral cooperation, extension of economic cooperation, stable large market, increase in trade, economic development.
JEL Code: E60, F02, F13
Pages: 103 - 121 | Full text (PDF)
Author: Tetyana NIKOLAYCHUK
Abstract: Protected areas and other natural territories are very important part of the Ukrainian economy. Due to the numerous possibilities of protected areas, it can occupy a significant part of the post-war reconstruction's destinations.The methodological approaches of protected areas development are considered as tools of economic and innovative regional development and expansion of investment flows. The post-war market of Ukraine depends on the the recovery level of the country's population, because the innovative forms of economic activity launching presupposes the existence of a healthy society ready of reforms and changes.Taking into account given the above, it is actualized the necessity to find out the essence and role of the facilities of nature reserve fund in the system of balanced economically efficient use of nature, their place in the financial and market infrastructures, the definition of the investment potential of reserve areas. The investigation of the market without inter-study differences was conducted by a quantitative literature review (a meta-analysis). Forming indicators of the most vulnerable society groups were analyzed by the systematization method. The main vectors of innovative growth in the EU countries and the adapting possibility of these tools to the Ukrainian economy were formed by the comparative method. As a result of research, the author analyzed economic, organizational, environmental and social principles protected areas increasing, it is established is considered the protected areas as a code of multitask development and economic stimulation to coperate with business entities.
Keywords: protected areas, renovation economy, behavioral deviations, postwar period, local communities, experience economy, consequences of war.
JEL Code: K 32, Q 38, Q 28, Q 29, Q 39
Pages: 122 - 143 | Full text (PDF)
Author: Igor SOROCEANU
Abstract: People are different in their way of being. Some differ according to their origin, race, spoken language, nationality, and other criteria, and others differ according to their ambitions, that is, according to their wishes and visions of the future. Some wishes or visions of the future can be obtained in a short way, but others are more difficult to obtain. Thus, in order to achieve their visions and goals, some people resort to military attacks, which turn into a battlefield. These struggles are carried out in serious violation of all the values of human society. A regrettable part of these fights is the participation of mercenaries in these illegal activities. Therefore, in the present scientific approach, we propose to analyze the participation role of mercenaries on the battlefield.
Keywords: battlefield, military aggression, mercenary, destruction of state property, loss of human life, etc.
JEL Code: K 10; K 14
Pages: 144 - 157 | Full text (PDF)
Author: Xenia MIGOVA
Abstract: This paper explores the effects of determinants of bilateral trade on export flows of Republic of Moldova during last decade in the framework of gravity model. Being a structural model with solid theoretical foundations it proves that markets are linked and changes in one partner country can cause changes in trade performance of another partner country. The variables include trade partner’s GDP, economic distance, and Association Agreement membership. Specifically, the model relies on a fixed effect panel estimation for explaining the export flows of the Republic of Moldova. In order to check the viability of the gravity equation, there are executed statistical tests. Based on the analysis, there are provided policy recommendations for trade policy.
Keywords:gravity model, panel data, Republic of Moldova, export, Association Agreement
JEL Code: F17
Pages: 158 - 167 | Full text (PDF)