European Journal of Economic Studies

135-142

Authors: Zeeshan Fareed, Muhammad Awais Baloch, Rab Nawaz Lodhi, Farrukh Shahzad, Bushra Zulfiqar

This research paper examines the impact of inflation with M2 (broad money) and private sector credit in Pakistan and helps to forecast inflation and its affect in Pakistan during the year 1975 to 2008. Inflation is defined as too much money chasing too few goods. Inflation leads to high prices and that affect all mechanism of the market. The rate of inflation is an important macroeconomic indicator that can affect the economic growth. Inflation was in lime light throughout the year, as the rise of global inflation witnessed during the most part of 2008. This paper finds out that an increase in money supply over long-run results in higher rate of inflation. Thus it establishes that inflation is essentially a monetary phenomenon. The results indicate that monetary factors have played a dominant role in recent inflation. Changes in wheat support price influence inflation in short-run, but not in long-run. Thus by using data from 1975-1976 to 2007-2008 period, applying Augmented Dickey-Fuller tests, its finds that the most important determinants of inflation in 2007-2008 were adaptive expectations private sector credit and rising import prices whereas fiscal policy’s contribution to inflation was nominal. Analysis of price multiplier indicates that increase in wheat procurement prices have relatively small effects on overall price levels.

150-154

Authors: Nadezhda A. Keschyan

The paper is concerned with the four big groups of strategies, aimed at the attraction of guests and residents, export of regional goods or industry development, in particular: marketing of image, attractiveness, infrastructure and population (personnel).

161-169

Authors: Svetlana Nefedkina, Ekaterina Gordeeva

The article features the key tendencies for development of recreation industry in Sochi in pre-Olympic period 2014. A key focus is made on marketing research in the framework of the TEMPUS project. The research was conducted on the basis of surveys of tourism sector consumers. The results of the research identify objective reasons for development of hospitality industry through the improvement of quality and quantity of high-comfort accommodation facilities.

177-183

Authors: Vladimir N. Sharafutdinov, Elena V. Onishchenko

The analysis, conducted in the work shows the worsening of the quantitative and qualitative parameters of the tourist product of the Crimea, the reduction of the efficient use of the richest tourist resources of the Crimea and highlights the problems, which have accumulated over the past years, including the ones of the town planning. Thus, the article justifies the necessity to change the existing economic paradigm of the tourist product of the Crimea reproduction, due to the fact that the existing approaches to the development of tourism don’t stimulate the economic development of the Crimea, but hinder it.