European Journal of Economic Studies

131-138

Authors: Jovana Boškov, Stefan Kotrla, Dajana Lulić

Muncipality of Bela Crkva is located in the northeastern part of Serbia, at the southeast end of the Autonomous Province of Vojvodina and Banat. In recent years, tourism in this Municipality is expanding, creating certain effects. The effects of tourism on spatial transformation are still not noticeably, but there are some changes which are present. The aim of this paper is to show spatial transformation that is created as a result of the development of tourism in the municipality of Bela Crkva.

147-160

Authors: Muhammad Imran, Khurrum S. Mughal, Aneel Salman, Nedim Makarevic

This study presents the new regression estimates of the relationship between unemployment and economic growth for 12 selected Asian countries over the period 1982-2011. Fixed effect and Pooled OLS techniques are used to analyze the panel data for measuring individual country effects, group effects and time effects while exploring the relationship between Unemployment rate and the Economic Growth. The results showed that higher unemployment rate has significant negative impact on GDP per capita growth (a proxy for economic growth). The results also investigated that economic growth seems to be significantly affected by traditional determinants such as Inflation (consumer price index), Population growth, Gross Capital Formation, Trade openness etc. Based on our results the author has concluded that reduction in unemployment rate would be a better option for more and sustained economic growth and also improving the welfare of the people.

175-194

Authors: Rana Ejaz Ali Khan, Tasnim Khan, Nadia Mahtab

The study empirically investigated the impact of sectoral volatility on fluctuations in economic growth of Pakistan and South Korea (Korea). ADF unit root test is used to check the stationery of the data. Autoregressive Conditional Heteroscadasticity (ARCH) and Generalized Autoregressive Conditional Heteroscadasticity (GARCH) have been used for estimating the volatility in variables under analysis. The results revealed that there exists almost equal level of volatility in GDP growth rate of both countries. However, volatility in agriculture, industry, services, export and import sector varies for two nations. Greater volatility shocks exist in agriculture sector of Pakistan as compared to Korea. Volatility in industrial sector persists in Korean economy only but not to the greater extent. Almost equal level of volatility shocks have been observed in services and import sector of both economies. However, export sector has shown greater volatility shocks in Korea as compared to Pakistan. The results of regression analysis have shown that volatility in agriculture sector contributes more towards volatility in GDP growth of Pakistan as compared to Korea. The volatility in industrial sector almost equally contributes to volatility in GDP of both countries. On the other hand the volatility in services sector contributes more volatility in GDP of Korea as compared to Pakistan. The export sector volatility contributes to volatility in GDP of only Pakistan. Finally the imports sector volatility negatively impacts the GDP volatility in Pakistan but positively in Korea.

69-75

Authors: Piotr Gut

The article presents research results, indicating, that VAT third party joint and several liability in an efficient antifraud element of the Polish VAT system. As the experimental verification of joint and several responsibility proves, there are situations, in which the VAT fraud is possible when this element of the VAT system is not applied, and is not possible any more when the element is applied, which indicates the efficiency of thereof and proves the hypothesis of the present article.

84-100

Authors: Goran Rajović, Jelisavka Bulatović

Contemporary trends in world tourism seek spaces of the original or at least altered the environment and the chance of northeastern Montenegro, in the example of municipalities Berane, Petnjica, Andrijevica, Plav and Gusinje the choosy market may to be a destination with undisturbed ambient wholes. This paper explores the role of local people in the development of eco-tourism, and analyzed the results of surveys of environmental awareness. The survey showed the population desire for the development of eco-tourism and that they look forward to that notion. In achieving a better and higher quality of eco-tourism destination in just planning must be integrated with the local population because what is tourist’s product that is offered to the tourist market, it is the local population living space in which takes place an everyday life.

112-118

Authors: Irina Yu. Potashova, Larisa V. Charhifalakjan

In this paper, the authors take account of the characteristics of services and properties of the business process in discussing the use of process-based management at enterprises within the sanitarium-resort sphere, the basis whereof is formed by services’ specific characteristics. The long-term benefits of and the need for applying the process-based approach in the management of service organizations in general and sanitarium-resort organizations in particular have urged the authors to work out a methodology for process-based management in respect to the sphere of sanitarium-resort services, its major concepts and elements including: a methodology for resort-service design (RSD), a functional model for process-based management of sanitarium-resort organizations (SRO), and major stages in implementing process-based management in the activity of SROs.

16-22

Authors: Zeeshan Ahmad, Meng Jun, Imran Khan

For last few years Pakistan has been suffering from energy crisis, under these circumstances to encourage efficiency and increase farmer’s income is very important and for this proposes the optimization of agricultural industrial structure is an important way. We collected 18years data on agricultural industrial structure measurements, energy efficiency indicators in 4 provinces from 1993-2010, and established regression models to look for the influence of agricultural structure on energy efficiency of Pakistan. We tried to find out the relationship between energy efficiency and agricultural industrial structure. Empirical results have shown that agricultural structure optimization has positive effect on social stability, agricultural economic development and energy efficiency in Pakistan’s rural areas. Therefore agriculture industrial structure deserves the attention of researchers as well as government.

39-44

Authors: Bella V. Kazieva, Leila B. Baisultanova, Lina H. Shokarova

In article research of dynamics and level of the budgetary indicators in comparison with an internal gross product of the USA is conducted (on the basis of information, provided on the site of printing house of the U.S. Government). The specifics of tax system of the USA consisting in prevalence of the taxation of the income over the taxation of consumption and application of the scheme of the progressive taxation of the income of corporations are revealed. The theoretical and practical conclusions drawn in article can be used in further research of a financial system of the USA.

54-60

Authors: Maia A. Seliverstova

This article illustrates the backbone role of the tourism and recreation sphere in the region’s social-economic development and the significance of entrepreneurial activity not only in the recreation sphere but adjacent areas as well, which facilitates an increase in the tourism flow. The author defines the major dimensions of entrepreneurial activity in the tourist region; proposes cluster organization as an integrative form of entrepreneurial activity in the tourism and recreation sphere; defines the objective of the cluster organization of entrepreneurship, which lies in entrepreneurial entities achieving competitive advantages through the identification and realization of the innovation potential of small and medium organizations; identifies the major conditions needed for the cluster to function as an efficient system; proposes activities, as part of cluster policy, for ensuring the effective interaction of entrepreneurial establishments within the tourism and recreation sphere.

206-210

Authors: Amelia Correa, Romar Correa

We detail the monetary context within which fiscal policy must operate. The monetary and the fiscal organs of the State must coordinate so as to “stabilize an unstable economy” (Minsky). The specific instruments that will emerge to fulfil the task are the rate of interest on government bills and the income tax rate.

225-240

Authors: Liliane Jodkowski

Change of society’s demographic structure (society’s ageing) causes a need to reform a statutory free health care system. New expensive medical technologies, growing costs of treatment as society is getting older and older together with stagnated tendencies in inflows from health fees make it essential to look for changes that should ease finances of the system. In this paper, some important reforms of German health care system (after 2000) in the context of looking for solutions for a Polish health care system. The Polish healthcare system is regularly criticised, and evaluated negatively in comparison with other EU countries. The problems are not only difficult access to medical services (long waiting lists, especially to specialists), corruption, providing services out of turn, low earnings in the sector and resulting outflow of highly qualified workforce to countries providing better working conditions and higher salaries, but also low quality of services (meaning high level of complications) and high patient co-payment (medication charges and so-called “expressions of gratitude”). This situation is not affected by changes in Polish demography, but, among others, the gaps in the healthcare system regulations and insufficient supervision over medical units, enabling and facilitating corruption and creation of monopsony (there is only one recipient - NFZ. This concept is especially relevant to the labour market, with only one employer in the region and many dependent employees or, for example, one state company purchasing goods or services from multiple suppliers) in the market of statutory medical services (NFZ). The German system is also criticized but for different reasons. In particular it is thought to be ineffective in fund management, which results from the system organization and is expressed in relatively low quality of services by relatively high costs. The aim of this paper is to compare the health care systems in Poland and Germany, to indicate their specific problems and steps taken to adapt these systems to challenges caused by the change in the structure of society and the development of modern technologies as well as the costs increase while maintaining, at the same time, fair access to free health services, reasonable expenditures and ethical principles.

247-251

Authors: Irina Yu. Potashova, Larisa V. Charhifalakjan

This article examines existing approaches to construing the essence of services and defining them and addresses the specifics in understanding the character of services. The authors conduct an analysis of the major characteristics of services covered in relevant literature, which leads them to conclude that the majority of researchers point up as the major property of services the process character of their provision. Based on their analysis, the authors fine-tune the essence and major characteristics of services, based on which they put forth a process definition of services.

263-267

Authors: Michail Yu. Puchkov, Ramazan M. Faiziev

Cluster policy is one of the most important methods to manage economic development of the country. It secures manufacture’s high profitability, increase of manufacture’s competitive ability and expansion of sales of goods. Authors describe basic aspects of cluster’s creation, its purposes and constituents, and also particular qualities and cluster’s organization conditions in agro industrial cluster’s development in Astrakhan region. Two subclusters of Astrakhan region’s agro industrial clusters were chosen as an object for consideration – cotton-growing and seed-growing subclusters.

279-284

Authors: Bushra Zulfiqar, Zeeshan Fareed, Umer Shehzad, Farrukh Shahzad, Sadaf Nabi

This paper intends to explore the impact of terrorism on FDI in Pakistan. Secondary data with a sample of 13 years from 2001 to 2013 is used. Augmented Dickey-Fuller is used to check the stationary/non stationary of data while ordinary least square method is employed to check the relationship between terrorism and FDI. The results reveals that there is negative and significant relationship exist between terrorism and FDI in Pakistan. The findings also show the behavior of international investors which are not willing to invest in Pakistan due to terrorist activities.

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.