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PurposeIn this paper we examine the validity of the J-curve hypothesis in four Southeast Asian economies (Indonesia, Malaysia, the Philippines and Thailand) over the 1980–2017 period.Design/methodology/approachWe employ the linear autoregressive distributed lags (ARDL) model that captures the dynamic relationships between the variables and additionally use the nonlinear ARDL model that considers the asymmetric effects of the real exchange rate changes.FindingsThe estimated models were diagnostically sound, and the variables were found to be cointegrated. However, with the exception of Malaysia, the short- and long-run relationships did not attest to the presence of the J-curve effect. The trade flows were affected asymmetrically in Malaysia and the Philippines, suggesting the appropriateness of nonlinear ARDL in these countries.Originality/valueThe previous research tended to examine the effects of the real exchange rate changes on the agricultural trade balance and specifically the J-curve effect (deterioration of the trade balance followed by its improvement) in the developed economies and rarely in the developing ones. In this paper, we address this omission.

Abstract This paper examines profit rate (rates of return to capital) convergence in OECD economies in the periods of 1960-2016 and relevant sub-periods. It also performs comparison of profit rates convergence in selected developed and developing economies, using the data for 1973-2003 period. Economy-wide, productive economy and manufacturing rates are estimated and three convergence concepts are considered (beta, sigma, and stochastic convergence). We use a combination of cross-sectional and univariate time series models and density distribution analysis. For each profit rate measure, a strong evidence of beta convergence is provided. In contrast, sigma convergence is indicated only in the case of productive economy profit rate; while in other cases, sigma divergence or the absence of either convergence or divergence are likely. Stochastic convergence is present in a smaller number of economies and is confined to productive economy and manufacturing. The comparison of convergence dynamics in developed versus developing economies confirmed beta convergence in both groups and for their aggregate, but did not establish sigma convergence, given the significant diversity of economies and their different economic trajectories.

This paper examines Wagner hypothesis of the growth of public expenditure alongside the growth of economic activity for a panel of 28 European economies during the 1995-2018 period. The hypothesis is verified using Pesaran (2007) panel unit root and Westerlund (2007) cointegration tests that account for cross-sectional dependence in the series, and three panel causality tests (Toda-Yamamoto, Dumitrescu-Hurlin and Juodis-Karavias-Sarafidis) that are suitable for mixed order of series' integration, heterogeneous balanced panels and cases of limited evidence of cointegration. The empirical results suggested that expenditure and output variables were non-stationary in levels and stationary in the first differences; the cointegration among the variables was present; the causality was principally uni-directional (from output to public expenditure), in line with Wagner's hypothesis, or bi-directional; the causality from public expenditure to output along Keynesian lines was limited.

This paper attempts to enhance empirical understanding of the effects of
structural-change variables on economic outcomes. The relationships between
sectoral shares and (1) the speed of structural change and (2) economic
growth were examined for a large panel of 111 economies over the period of
1971-2018. Given the time series properties of the series and the absence of
a long-run relationship between them, the panel OLS and VAR models were
employed. The results are largely in line with previous empirical research:
it was established that a lack of industrialisation effort (manifested in
the persistence of agriculture as a share of GDP) and ?servicisation? (the
expansion of the services share of GDP) negatively affect GDP growth rates.
In contrast, a growth in industry and manufacturing shares positively
influences economic growth, as does accelerated structural transformation
(represented by the respective index of structural change).

Six scientific-informative paradoxes of the current state of geoecology are determined. New theoretical foundations of geoecology as an interdisciplinary science, developed on the basis of the concept of ecological functions of Earth abiotic spheres, are formulated. They include ideas about the content, object, subject, logical and scientific structures of geoecology, geoecological conditions and their condition, the position of geoecology in the system of sciences about the Earth and the biosphere.

The ideas about the content of the concept of "geoecological space", types, scientifi c content and applied tasks, types of systems studied by geoecology, theoretical foundations of which are developed on the basis of the concept of environmental functions of abiotic spheres of the Earth are characterized. Types and groups of indicators used to assess geoecological conditions.

The article analyzes topical issues of the state regulation of subsurface use of the Arctic and continental shelf of Russia. The role and value of development of oil and gas reserves of the Arctic as the most important strategic region of development of national economy are proved. The need of tough upholding of the Russian Arctic interests for the UN and other international organizations is revealed. The anti-sanctions policy of import substitution in relation to the foreign oil and gas equipment and technologies of extraction of hydrocarbon raw materials in extreme conditions, to construction of the drilling fleet, etc. from positions of national energy sustainability is grounded. The importance of studying the best practices of the subarctic states is noted.

The article researches amendments to the Constitution of Ukraine submitted on February 7, 2019 regarding their reasonableness and the way of enshrining. Attention has been focused on motivation part as well as forecasts described in the explanatory note to the draft law No. 9037 of 03.09. 2018. Provisions which supplemented or changed the norms of the Constitution were analyzed. The issue regarding enshrining a specific geopolitical course of the state in the Constitution, identification of its civilized membership has been investigated. Amended and other provision of the Constitution of Ukraine, an explanatory note to the draft law No. 9037 of September 3, 2018 as well as scientific works on the issues referred to this issue have been analyzed. Results of sociological survey which the legislator used when it motivated necessity to amend the Constitution of Ukraine have been investigated. Personal opinion on possibility to use this research during amendments to the Basic Law has been provided. Provisions which would be reasonable to be introduced to the constitutional text have been thoroughly thought. Recommendations regarding the way of enshrining of constitutional provisions which was chosen by legislator have been made. Personal conclusions regarding formalization of the legislator's idea to enshrine mentioned ideas in the Constitution of Ukraine have been made. Problems which in author's opinion are connected with amendments made to the Constitution have been identified. The reasons for such problems as well as the means of their overcoming have been researched into. Attention was drawn to international experience regarding mentioning of international organizations in constitutions. The author has attempted to identify the reasonableness of amendments which related to foreign policy in general as well as to choose the best way for reforming of constitutional text.

The article analyzes tendencies of national payment systems development in the European Union and Russia: electronic and deposit money, bank cards, financial technologies in the field of retail payments. The author identifies factors that stimulate the development of cashless retail payments and the national payment card systems in the European Union, as well as the problems and prospects of this sector forming in Russia. Recommendations on the development of a competitive environment and financial technologies in the field of retail payments in Russia are proposed.

The article analyzes the issues of enhancement of the state regulation mechanism of Russian oil and gas complex, determines the tasks and reveals the main shortcomings of its functioning. The method of calculating rentals as an instrument of state regulation that promotes the increase in efficiency of subsoil use and economically sustainable development of Russian oil and gas complex is proposed.