Suchergebnisse

ABSTRACT: Economic integration in various countries impacts fluctuations in and out of capital and multiple economic cooperation between countries. The investment that is one form of implementation of economic integration positively influences a country's capital reserves. The study analyzed the influence of macroeconomic variables and proxied institutions with corruption variables and government regulations on foreign portfolio investment fluctuations in the twenty Asian and EU countries with the largest funds flows. The data used in this study is a data panel with a period from 2002-2019. The analysis method used in this study uses two methods at once, namely the Generalized Method of Moment (GMM) and the Panel Vector Error Correction Model (PVECM), to analyze the cost of the analysis results. The study found that macroeconomic instruments projected with GDP variables had a positive and significant influence on foreign portfolio investments, while exchange rate variables negatively affected foreign portfolio investments. Important findings in this study that corruption consistently negatively and significantly affects foreign portfolio investments are based on both GMM test results and PVECM tests in the long term. In contrast, the results of PVECM tests in the short term do not have any macroeconomic variables or institutions that significantly affect foreign portfolio investment. This means that investors' consideration in investing in Asian countries and Europe is based on a long-term perspective than on short-term economic dynamics. In addition, regulatory variables have a positive and significant effect on foreign investment portfolios in twenty Asian countries and the European Union with the largest portfolio investment fund flow.

The panel data analysis of the influence of change in real public debt, real private debt, and deflated house prices on the GDP in selected European countries is performed. Least squares and autoregressive AR(p) model was used with cross-section and period both fixed by dummy variables. The research has confirmed strong negative influence of public debt with zero, one and two year's lags as an independent variable on the GDP as the dependent variable. This is not surprising having in mind limited functionality of the European central bank as a lender of the last resort for the countries of the monetary union, that is, for the most of the analysed countries. This finding also confirms the necessity of the transformation of the European Monetary Union to the European Financial Union. Private debt has definite positive influence on the GDP as the dependent variable. It was confirmed by measuring this influence with zero, one and two and three years lags, but this positive influence was 2-3 times lower than the negative influence of public debt on the GDP. House prices unlagged have similar absolute value of positive influence on the GDP coefficient as the absolute value of the negative influence of lagged public debt, according to the regression coefficients received. However, house prices, leading by 2 years, have negative influence on the GDP, but this influence is almost 5 times weaker than the negative influence of unlagged public debt.

The panel data analysis of the influence of change in real public debt, real private debt, and deflated house prices on the GDP in selected European countries is performed. Least squares and autoregressive AR(p) model was used with cross-section and period both fixed by dummy variables. The research has confirmed strong negative influence of public debt with zero, one and two year's lags as an independent variable on the GDP as the dependent variable. This is not surprising having in mind limited functionality of the European central bank as a lender of the last resort for the countries of the monetary union, that is, for the most of the analysed countries. This finding also confirms the necessity of the transformation of the European Monetary Union to the European Financial Union. Private debt has definite positive influence on the GDP as the dependent variable. It was confirmed by measuring this influence with zero, one and two and three years lags, but this positive influence was 2-3 times lower than the negative influence of public debt on the GDP. House prices unlagged have similar absolute value of positive influence on the GDP coefficient as the absolute value of the negative influence of lagged public debt, according to the regression coefficients received. However, house prices, leading by 2 years, have negative influence on the GDP, but this influence is almost 5 times weaker than the negative influence of unlagged public debt.

The panel data analysis of the influence of change in real public debt, real private debt, and deflated house prices on the GDP in selected European countries is performed. Least squares and autoregressive AR(p) model was used with cross-section and period both fixed by dummy variables. The research has confirmed strong negative influence of public debt with zero, one and two year's lags as an independent variable on the GDP as the dependent variable. This is not surprising having in mind limited functionality of the European central bank as a lender of the last resort for the countries of the monetary union, that is, for the most of the analysed countries. This finding also confirms the necessity of the transformation of the European Monetary Union to the European Financial Union. Private debt has definite positive influence on the GDP as the dependent variable. It was confirmed by measuring this influence with zero, one and two and three years lags, but this positive influence was 2-3 times lower than the negative influence of public debt on the GDP. House prices unlagged have similar absolute value of positive influence on the GDP coefficient as the absolute value of the negative influence of lagged public debt, according to the regression coefficients received. However, house prices, leading by 2 years, have negative influence on the GDP, but this influence is almost 5 times weaker than the negative influence of unlagged public debt.DOI: http://dx.doi.org/10.5755/j01.ee.29.2.20000

The panel data analysis of the influence of change in real public debt, real private debt, and deflated house prices on the GDP in selected European countries is performed. Least squares and autoregressive AR(p) model was used with cross-section and period both fixed by dummy variables. The research has confirmed strong negative influence of public debt with zero, one and two year's lags as an independent variable on the GDP as the dependent variable. This is not surprising having in mind limited functionality of the European central bank as a lender of the last resort for the countries of the monetary union, that is, for the most of the analysed countries. This finding also confirms the necessity of the transformation of the European Monetary Union to the European Financial Union. Private debt has definite positive influence on the GDP as the dependent variable. It was confirmed by measuring this influence with zero, one and two and three years lags, but this positive influence was 2-3 times lower than the negative influence of public debt on the GDP. House prices unlagged have similar absolute value of positive influence on the GDP coefficient as the absolute value of the negative influence of lagged public debt, according to the regression coefficients received. However, house prices, leading by 2 years, have negative influence on the GDP, but this influence is almost 5 times weaker than the negative influence of unlagged public debt.

The panel data analysis of the influence of change in real public debt, real private debt, and deflated house prices on the GDP in selected European countries is performed. Least squares and autoregressive AR(p) model was used with cross-section and period both fixed by dummy variables. The research has confirmed strong negative influence of public debt with zero, one and two year's lags as an independent variable on the GDP as the dependent variable. This is not surprising having in mind limited functionality of the European central bank as a lender of the last resort for the countries of the monetary union, that is, for the most of the analysed countries. This finding also confirms the necessity of the transformation of the European Monetary Union to the European Financial Union. Private debt has definite positive influence on the GDP as the dependent variable. It was confirmed by measuring this influence with zero, one and two and three years lags, but this positive influence was 2-3 times lower than the negative influence of public debt on the GDP. House prices unlagged have similar absolute value of positive influence on the GDP coefficient as the absolute value of the negative influence of lagged public debt, according to the regression coefficients received. However, house prices, leading by 2 years, have negative influence on the GDP, but this influence is almost 5 times weaker than the negative influence of unlagged public debt.

The system of international relations is in constant change, where new challenges, problems, trends are emerging. In this context, the global migration is no exception. The central question of this study is that labor migrants from Central Asia are changing their traditional directions, where Russia is replaced by other European countries. Such a trend can not be short-term for a number of reasons, both internal and external. Globalization, which neutralizes the natural borders of states, contributes to the gradual growth of world migration. Moreover, the leading countries of Europe with a high level of economic development have always attracted foreigners who were in search of work and a better life. Among other reasons of this problem is the rapid demographic development of Central Asia, the interest of European countries in cheaper labor, but quite qualified. In addition, the economic crisis in Russia, the complication of migration policy, the weakening of the currency, as well as the dependence of the budget of the Central Asian countries from remittances from abroad, it provokes great interest in changing traditional migratory direction. The objective of the research is to investigate the phenomenon of gradual increase in the number of migrants from Central Asian countries to Europe and analyze causes and consequences of this phenomenon in the context of the current international situation. Summarizing the results of the research, the authors make the important conclusion that the number of migrants from Central Asia in the countries of the European Union is gradually increasing. In the next decades this phenomenon will also be relevant because of the high birth rate and relatively young middle age of citizens in the countries of Central Asia, the EU's need for cheap and at the same time qualified labor, a low level of the Central Asian economy and the economic crisis in Russia. ; Система международных отношений находится в постоянном изменении, где появляются новые вызовы, проблемы, определенные тренды. В этом смысле глобальная миграция не является исключением. В данном исследовании речь идет о том, что мигранты из Центральной Азии в последние годы устремлены против традиционно сложившегося направления, где на смену России приходят другие страны Европы. Подобная тенденция не может являться краткосрочной по ряду внутренних и внешних причин, где глобализация, нивелирующая естественные границы государств, способствует постепенному росту мировой миграции. Более того, ведущие страны Европы с высоким уровнем экономического развития всегда привлекали иностранцев, которые находились в поиске работы и лучшей жизни. Среди других причин актуальности этой проблемы можно назвать и быстрое демографическое развитие ЦА, заинтересованность европейских стран в более дешевой рабочей силе, но, тем не менее, достаточно квалифицированной. Помимо этого экономический кризис в России, усложнение миграционной политики, ослабление курса валюты, а также зависимость бюджета стран ЦА от денежных переводов из-за границы в комплексе провоцируют большую заинтересованность в смене традиционного миграционного направления. Цель работы - исследовать феномен постепенного увеличения числа мигрантов из стран Центральной Азии в Европу и проанализировать причины и последствия данного явления в контексте актуальной международной обстановки. По итогам рассмотрения проблемы авторы делают вывод о том, что количество мигрантов из Центральной Азии в странах Европейского союза постепенно увеличивается. В следующие десятилетия этот феномен также будет актуален из-за высокого темпа рождаемости и относительно молодого среднего возраста граждан в странах ЦА, потребности ЕС в дешевой и одновременно квалифицированной рабочей силе, невысокого уровня экономики ЦА и экономического кризиса в России.

У статті проаналізовано особливості формування та розвитку смарт-дестинацій на прикладі країн Європейського Союзу. Проаналізовано необхідність створення розумних туристичних дестинацій на основі філософії сталого розвитку, застосування сучасних інтегрованих інформаційних технологій та ефективного застосування та розвитку суміжних з туризом галузей.Досліджено та визначено основні фактори, які впливають на необхідність формування розумних туристичних дестинацій з метою оптимізації антропогенного навантаження на дестинацію, боротьби з «овер туризмом» та з одночасним покращенням якості життя місцевого населення. Проаналізовано основні складові смарт-дестинації на прикладі міста Барселона, що є пілотним та успішним проектом з формування розумного міста. Визначено основні напрямки формування та розвитку смарт-дестинацій в Україні на прикладі м. Львів. ; Implementation of the latest and new information technologies, digital solutions with optimization of smart tourist destination model is an integral part of the country's economic development strategy of modern countries. Smart Destination Technologies are being introduced in many tourist centers in Europe and around the world, the most popular are: Barcelona, London, Gdansk, Boston, Chicago, Las Vegas, New York, Orlando, San Antonio, San Diego, Shanghai, Sydney, Los Angeles, Dubai and a lot of other. The main advantages for tourists is the use of loyalty city cards, which allows tourist to save significantly on the cost of living, food, transport, also tourism services as well as increasing the informatively and safety of travel. In connection with this, there is a need to study the experience of developed countries of the European Union in the formation of smart foundations.The article defines the features of formation and development of smart destinations on the example of European Union countries. It is very important for tourist industry, because tourist flows on the continent is growing and anthropogenic impact on the environment, social, technical and transport infrastructure, historical and architectural monuments, cultural objects of tourist destination also is growing.That is why creation of smart tourist destinations is necessity and based on the philosophy of sustainable tourism development, application of modern integrated information technologies and effective application of industrial, transport, energy, environmental management.The main factors that have influence on the necessity of formation of smart tourist destinations and their development are investigated with the aim of optimizization of the anthropogenic loading on the destination, the struggle with over tourism and simultaneously improving the quality of life of the local population.All basic components of smart foundations are analyzed on the example of the Barcelona city, which is a pilot and successful project of the smart city organization. The basic directions of formation and development of smart destinations in Ukraine are determined on the example of Lviv.

Sustainable development should ensure a fair and balanced natural, social and economic environment. Sustainable Development Goal 8 (SDG 8) – decent work and economic growth – is of the greatest economic importance. The purpose of the study is to assess the implementation of SDG 8 in EU member states. The analysis covered the years 2002–2021 with a particular focus on two crises periods: the financial crisis of 2007–2009 and the COVID-19 pandemic in the years 2020–2021. The study uses Eurostat data and multivariate statistical analysis methods, i.e. cluster analysis – the k-means method and linear ordering – the TOPSIS method. Denmark, Finland, the Netherlands and Sweden are the countries where the fulfilment of SDG 8 was the greatest, while the lowest was observed in Greece, Italy, Romania, Slovakia and Spain. The study also shows that the countries which joined the EU in 2004 generally demonstrated a much lower degree of SDG 8 implementation compared to the well-developed Western Europe. The influence of the crisis periods was more visible in the results of the cluster analysis than in the rankings. The novelty of the research involves the application of multivariate statistical analysis methods to assess the overall situation of the studied countries in terms of their implementation of SDG 8 while taking into account both crisis periods.

National and global health policies are increasingly recognizing the key role of the environment in human health development, which is related to its economic and social determinants, such as income level, technical progress, education, quality of jobs, inequality, education or lifestyle. Research has shown that the increase of GDP (Gross Domestic Product) per capita can provide additional funds for health but also for environmental protection. However, often, economic growth is associated with the accelerated degradation of the environment, and this in turn will result in an exponential increase in harmful emissions and will implicitly determine the increasing occurrence of non-communicable diseases (NCDs), mainly cardiovascular diseases, cancers and respiratory diseases. In this paper, we investigate the role and effects of economic growth, environmental pollution and non-communicable diseases on health expenditures, for the case of EU (European Union) countries during 2000–2014. In order to investigate the long-term and the short-term relationship between them, we have employed the Panel Autoregressive Distributed Lag (ARDL) method. Using the Pedroni-Johansen cointegration methods, we found that the variables are cointegrated. The findings of this study show that economic growth is one of the most important factors influencing the health expenditures both in the long- and short-run in all the 28 EU countries. With regards to the influence of CO(2) emissions on health expenditure, we have found a negative impact in the short-run and a positive impact on the long-run. We have also introduced an interaction between NCDs and environmental expenditure as independent variable, a product variable. Finally, we have found that in all the three estimated models, the variation in environmental expenditure produces changes in NCDs' effect on health expenditure.

This paper conducts an empirical analysis of the relationship between financialization and neoliberalism and the labor share using panel data composed of twenty-seven European Union countries over nineteen years (from 1995 to 2013). Adopting a Kaleckian perspective, framed in the post-Keynesian literature, financialization and neoliberalism exert a negative influence on the labor share through three different channels: the change in the sectorial composition of economies (the increasing importance of financial activity and the decreasing importance of general government activity), the proliferation of shareholder value orientation, and the deterioration of general workers' bargaining power. We estimate a labor share equation with the traditional variables (lagged labor share, technological progress, globalization, education, and output growth) and four further measures of financialization and neoliberalism (financial activity, general government activity, shareholder value orientation, and the trade union density rate). The findings show a disruptive relationship between financialization and neoliberalism and the labor share in European Union countries, mainly through the channels of general government activity and shareholder value orientation. It is also found that financialization and neoliberalism have contributed to a fall in the labor share in European Union countries. The technological progress was the main driver of the fall in the labor share in European Union countries, while the output growth was the main supporter. This suggests that the trend of decline in the labor share could intensify in the future taking into account the fears of potential secular stagnation in the current era of financialization and neoliberalism. JEL Classification: C23, D33, E25, E44

This paper aims shedding more light in the understanding and the study of fiscal vulnerability. Therefore, it presents a methodology of assessing vulnerability of fiscal policy using a public debt dynamic equation which allows estimating the primary balance that stabilizes public debt. Calculating the primary gap represented by the difference between the stabilizing and the current primary balance, it can be indicated fiscal vulnerability. It is used annual data ranged for 1971 and 2010 and investigated the vulnerability of fiscal policy for the case of 10 advanced economies in the European Union. The results showed only a few episodes of more severe fiscal vulnerability occurring after the financial turmoil. Most of the data analyzed indicates a normal state of fiscal vulnerability that is not induced by the government's failure in achieving the stabilizing primary balance but by not aiming at the stabilization of the public debt.

Svrha ovog rada je istražiti neke od glavnih uzroka visoke stope nezaposlenosti u zemljama Europske unije polazeći od dva ključna izvora u ekonomskoj literaturi: nedostatak ukupne potražnje i sve veće nepodudarnosti na tržištu rada. Analiza je provedena na temelju panel podataka i fokusira se na dva cilja: izmjeriti kratkoročni i dugoročni utjecaj rasta BDP na nezaposlenost za razne kategorije sudionika na tržištu rada (mladi, stari i radnici s nižom stručnom spremom) i ocijeniti odnos nepodudarnosti između vještina (obrazovnih i profesionalnih) i nezaposlenosti. Jedan od glavnih zaključaka jest da su promjene u stopama nezaposlenosti mladih i nisko obrazovanih osoba uvelike pod utjecajem dinamičnog ekonomskog rasta kako dugoročno, tako i kratkoročno, dok stope nezaposlenosti među starijima ukazuju na veću mogućnost prilagodbe. Nadalje, izgleda da profesionalna nepodudarnost ima značajan dugoročni utjecaj na promjenu u stopi nezaposlenosti svih kategorija nezaposlenih, dok je kratkoročni utjecaj mješovit i varira od zemlje do zemlje. Jedno objašnjenje je činjenica da se ekonomska struktura za vrijeme krize može mnogo brže mijenjati nego što se tržište rada i obrazovni sustav mogu prilagoditi. ; The purpose of this paper is to investigate some of the main drivers of high unemployment rates in the European Union countries starting from two sources highlighted in the economic literature: the shortfall of the aggregate demand and the increasing labour market mismatches. Our analysis is based on a panel database and focuses on two objectives: to measure the long and short-term impact of GDP growth on unemployment over recent years for different categories of labour market participants (young, older and low educated workers) and to evaluate the relationship between mismatches related to skills (educational and occupational) and unemployment. One of the main conclusions is that unemployment rates of young and low educated workers are more responsive to economic growth variations both in the long and short run, while unemployment rates of older workers show a greater capacity of adjustment. In addition, occupational mismatches seem to have a significant long-term impact on the changes in unemployment of all categories of unemployed, whereas the short run effect is rather mixed, varying across countries. One explanation is the fact that during crisis, economy's structure tends to change more rapidly than labour market and educational system can adapt.

This article presents the features of police physical training in the European Union. It has been revealed that the problem of improving the physical training of law enforcement officers has repeatedly attracted the attention of scientists. The need to study the best international practices of physical training of police officers is due to the need to improve the quality of formation and development of physical properties of specialists of the State Border Guard Service of Ukraine through the application and implementation of modern effective innovative methods. It has been established that various aspects of the training and education of specialists of the SBGS of Ukraine, including their physical training, have recently attracted the attention of a significant number of scientists. At the same time, the theoretical and methodological foundations of continuous physical training of SBGS personnel at different levels of education, substantiated with the generalization of foreign experience, have not been the subject of a particular dissertation research. The results of a synthesis of foreign experience suggest that despite all the variety of pedagogical approaches to police training, three main models of police education in Europe can be distinguished - German, French and British. In professional police education, special attention is paid to the development of physical qualities, skills and personal safety skills. Candidates for training undergo a rigorous professional selection process that includes tests of physical stamina, strength, speed, motor skills, flexibility, coordination, agility and the like. Police officers undergo compulsory physical training every year. The amount of training an officer is required to undergo generally depends on the nature of his or her professional activity and the work he or she does. The prospect for future research is to investigate and summarise the experiences of security and defence officer training in North American countries. ; У статті представлено особливості фізичної підготовки співробітників поліції у країнах Європейського Союзу. З'ясовано, що проблема удосконалення фізичної підготовки співробітників правоохоронних служб неодноразово привертала увагу науковців. Необхідність дослідження передового зарубіжного досвіду фізичної підготовки співробітників поліції обумовлена потребою в удосконаленні якості формування і розвитку фізичних властивостей фахівців Державної прикордонної служби України шляхом застосування і впровадження сучасних ефективних інноваційних методик. З'ясовано, що різноманітні аспекти навчання й виховання фахівців ДПСУ – співробітників правоохоронного органу спеціального призначення, у тому числі їхньої фізичної підготовки останнім часом привертали увагу значної кількості науковців. Водночас теоретичні і методичні засади неперервної фізичної підготовки військовослужбовців ДПСУ на різних рівнях освіти, обґрунтовані з урахуванням узагальнення зарубіжного досвіду не були предметом окремого дисертаційного дослідження. Результати узагальнення зарубіжного досвіду дозволяють зробити висновок, що попри всю різноманітність педагогічних підходів до професійної підготовки співробітників поліції можна виокремити три основні моделі поліцейської освіти в Європі – німецьку, французьку та британську. У професійній поліцейській освіті особливу увагу приділено розвитку фізичних якостей, навичок і умінь особистої безпеки. Кандидати на навчанні проходять ретельний професійний відбір, що передбачає випробовування фізичної витривалості, сили, швидкості, рухових павичок, гнучкості, координації, спритності тощо. Співробітники поліції щороку проходять обов'язкову фізичну підготовку. Обсяг підготовки, яку повинен пройти співробітник, як правило залежить від особливостей його професійної діяльності та виконуваної роботи. Перспективи подальших досліджень полягають у дослідженні та узагальненні досвіду підготовки офіцерських кадрів сектору безпеки та оборони в країнах Північної Америки.

Improving productivity is the main determinant of long term develop-ment. In the EU in Europe 2020 strategy special attention was given to the role of quality of human capital (QHC) as an important determinant of productivity growth. In this context the aim of the article is to assess the impact of the QHC on total factor productivity (TFP) in 'old' EU countries. The research is conducted at macroeconomic level. EU economies must build their competitiveness in reality of knowledge-based economy. Thus, the QHC was analysed from the point of view of global knowledge economy. This factor was treated as a multidimensional phenom-enon. As a result, it was measured with application of TOPSIS method, which al-lowed to obtained time series for dynamic panel analysis of determinants of TFP. In order to evaluate TFP parameters of the Cobb-Douglas production function for de-veloped EU countries were estimated. Then, the relationship between the QHC and the level of TFP was assessed with application of dynamic panel model. The re-search was based on Eurostat data for the years 2000-2010. It confirmed a signifi-cant influence of the QHC on the level of TFP in the analysed economies.