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«European Journal of Economic Studies»
(Европейский журнал экономических исследований) – международный двуязычный научный журнал.

E-ISSN 2305-6282

Периодичность – 2 раза в год.
Издается с 2012 года.

1 March 23, 2021


1. Matin Firuzi, Nabi Rahimov, Gunel Mammadova, Gadim Gadimov, Ulkar Mahmarza, Ulvi Salehzada
Analyses of the Impact of COVID-19 on the Hotel Industry in Italy. Future Perspectives and Recommendations in the Post-Pandemic Period

European Journal of Economic Studies. 2021. 10(1): 3-13.
DOI: 10.13187/es.2021.1.3CrossRef

Since Great Depression, the world economy has been in its worst condition. A bumpy year ahead is anticipated by many economists. Their 2020 prediction assumes that global retail trade volumes will decline by 13 % and 32 % in comparison with 2019. The severity of the fall will be related to two major factors: First, how much time is required to maintain the virus under control; and the second, economic policies countries will use at the national and international level to minimize its economic impacts. This highlights why it is more essential for countries than ever to collaborate together to enable people to have easier access to goods and services. Protecting public health and boosting economic activity can be achieved by collaborative action that we can react quickly to the pandemic. Therefore, policymakers and international organizations would better act together. This paper assesses the short-term effects of the coronavirus outbreak in Italy. Obviously, the consequences of infectious diseases are significant and have directly impacted the major economic and non-economic sectors around the globe. Our results indicate that the hotel industry as well as the whole tourism sector has declined rapidly since the virus out broke in the different areas of the world. STEEPLE analysis is conducted to determine the significance of the major factors that impact the future activities of the hotel industry as a result of the pandemic. We will address this research for determining the current situation and the effect of the pandemic on the hospitality industry in Italy.

URL: http://ejournal2.com/journals_n/1619006349.pdf
Number of views: 280      Download in PDF

2. Aleksandra Karamehmedović, Nedim Čelebić, Ermin Cero
Absenteeism as Predictor of Voluntary Turnover

European Journal of Economic Studies. 2021. 10(1): 14-22.
DOI: 10.13187/es.2021.1.14CrossRef

This study examines the relationship of prior absenteeism and demographic variables on absenteeism and turnover intentions in a commercial bank in Bosnia and Herzegovina. Although there can be found a lot of research related to turnover in the literature, relatively little exists on the relationship of turnover to other behavioral outcomes, most notably absenteeism. The article describes the results of the research done at the Faculty of Economics and Social Sciences of the International Burch University. There were two research objectives. The first objective was to find out whether absenteeism rates of employees who leave voluntarily show tendency to be higher than of those who stay with the company. The second objective was to find out will absenteeism explain statistically significant amount of variation in voluntary turnover beyond that explained by demographics, such as age and gender. Data is collected from Human Resources Department in a commercial bank in B&H. Descriptive statistics is conducted to show detailed information about the sample. The findings show that absenteeism levels of employees who voluntarily leave is not higher than that of those who remain with the organization and that demographic variables explain voluntary turnover more than does the absenteeism. This research identifies and systematize the main satisfaction factors that affect the work of banking employees. In today's conditions of recession, for bank managers in Bosnia and Herzegovina and wider this research can be a guideline for better and more successful management of human resources.

URL: http://ejournal2.com/journals_n/1619006424.pdf
Number of views: 285      Download in PDF

3. Giorgi Sanadze
The Role of the Human Factor in Development of Innovative Economy

European Journal of Economic Studies. 2021. 10(1): 23-28.
DOI: 10.13187/es.2021.1.23CrossRef

The capacity of the innovative economy is becoming significantly important in the modern civilized world. Consequently, the development of a country’s economy is influenced by the innovativeness of its constituent structure. Taking into consideration that the human is the main actor within the economy, the economic development from an innovative angle can be described as unimaginable without certain human factors. Based on the above-mentioned, a completely new and previously non-existent human factor might be defined as the main producer of an innovative economy. We call this new factor "Homo Hi Techicus". In our opinion, "Homo Hi Techicus" should supply society with high-tech-based products and services. The role of the "High-Technological Man" human factor in the development of the innovative economy is growing fast, especially nowadays when the development of block chain technologies is getting more and more important. A number of relevant technical skills are characterized for “Homo Hi Techicus” in order to develop or use various modern high-tech-based facilities. Therefore, “Homo Hi Techicus” can be defined as a mostly sufficient and adapted model for the successful production of an innovative economy. The development of a high technology-based innovative economy needs some preparatory measures, including the better promotion of R&D and scientific research-related activities in a country.

URL: http://ejournal2.com/journals_n/1619006699.pdf
Number of views: 229      Download in PDF

4. Denis Vintu
GDP Modelling and Forecasting Using ARIMA. An Empirical Assessment for Innovative Economy Formation

European Journal of Economic Studies. 2021. 10(1): 29-44.
DOI: 10.13187/es.2021.1.29CrossRef

This article reconsiders the developing of a new forecast model using the interrupted timeseries of the gross domestic product for the Republic of Moldova. The theme arises from a first need to redefine, economic growth in the context of increasing globalization but also the complexity of commercial transactions. The forecasting method used is based on ARIMA each model partly emphasizing the urgent need to redefine, the economic growth in the context of the Association Agreement (AA) with the EU, which includes a Comprehensive Free Trade Agreement (2014) but also future prospects of integration among the countries with an average degree of development. The technique used comes to bring novelty in the field of forecasting, as an alternative to the one which should be —, a simultaneous equations method and traditional VAR. The policy and practical implications of the results are the strengths. The limits are due to the high degree of risk and uncertainty, which is due to the low degree of real convergence of the economy, but also to other factors such as the regional context, the lack of openness of the economy, the diversification of exports and services. The degree of complexity arises from the adaptation and study of the chronological interrupted series 1967−2019 for the branch – information and communications, subgroup GDP, categories of resources, which themselves have specific asymmetries and nuances. The basic ARIMA equations are generally used in conjunction with three sets of assumptions regarding the formation of the gross domestic product, referring to the elasticity of aggregate demand or excess sensitivity supply in the goods and labour markets. Another hypothesis concerns the rigid wage and sticky prices, including deflation with an positive output gap only in the telecom market. Also, the salary is rigid, while the price level is adjusted based on the market of goods and commodities, so that the excess supply appears only in the labour market. Finally, in a third assumption, both markets are assumed to be mutually adjusted. The multipliers of fiscal and monetary policy, besides the conclusions that can be drawn about economic policy, are obviously different in these three assumptions. The article presents a synthetic model that supports the three particular sub-regimes of assumptions of a single adapted ARIMA model, namely the trajectory of New Keynesian Small and Closed Economy Model – a balance in the goods and services, the labour market and the national financial system. In conclusion, the model aims not only to redefine the area of macroeconomic forecasting but also to offer a future perspective of adopting combined techniques such as the Stochastic Dynamic General Equilibrium (K-SDGE) Model with sticky prices and wages – technique, but also the scenario method. This framework is appealing because it has straight forward model setup, transparent mechanisms, sharp empirical analysis, and multiple important applications such as rational expectations.

URL: http://ejournal2.com/journals_n/1619006775.pdf
Number of views: 241      Download in PDF

full number
URL: http://ejournal2.com/journals_n/1619006785.pdf
Number of views: 295      Download in PDF

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