Annals of Spiru Haret University
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TERMS OF TRADE, TRADE RESTRICTIONS AND REAL EXCHANGE RATE IN NIGERIA
Full text linkThis study examined the determinants of the real exchange rate in Nigeria. To achieve the stated objectives, several empirical tests were conducted to ascertain the relationship among the variables under study. They include the descriptive statistics test, the ADF unit root test, the serial correlation and stability tests, the ARDL bound test and ARDL short-run ECM test as well as the cointegration test. Analyses of the results revealed that real government expenditure has a negative but significant relationship with the real exchange rate. Both domestic money supply and nominal exchange rate both have a positive and significant relationship with the real exchange rate. The results further revealed that real trade restrictions and technological progress both have a positive but insignificant impact on the real exchange rates. In conclusion, both real and nominal variables are the core fundamentals that determined the real exchange rate in Nigeria mostly in the short run. Consequently, the study recommended that regarding the real terms of trade; since capital accumulation appreciates the real effective exchange rate, there is a need for the creation of enabling environment that encourages investment in the tradable goods sector, rather than the non-tradable goods sector
CONECTION OF THE REPUBLIC OF MOLDOVA TO THE CIRCULAR ECONOMY CONCEPT
No full textAbstract: European legislation on the circular economy has registered an accelerated promotion in recent years. The European Commission has adopted a package of measures and legislative proposals to stimulate sustainable growth and help Europe make the transition to a more circular economy. The transition to a circular economy involves abandoning the linear economic model and focusing on reducing energy and raw material consumption. However, the pandemic generated by COVID-19 calls into question the importance of circular economy legislation at European level and in particular the need to achieve its objectives in reality. Thus, the new action plan for the circular economy adopted on 11 March 2020 by the European Commission is part of the main blocs of the European Green Pact, a new European agenda for sustainable growth and an EU growth strategy to achieve climate neutrality until 2050. It presents a forward-looking agenda for the circular economy, aimed at achieving the goal of a cleaner and more competitive Europe, in collaboration with economic actors, consumers, citizens and civil society organizations. In this article, the authors aim to report on the actions of the EU and the Republic of Moldova in the field of circular economy from a legislative perspective and analysis of international experience, but also the impact of existing programs and projects to produce lasting effects in society. At the same time, the main barriers to the circular economy transition in the Republic of Moldova are highlighted, as well as the first progress made. This study was developed within the State Program 20.80009.0807.22 Development of the mechanism for forming the circular economy in the Republic of Moldova. Keywords: circular economy, green economy, recycling, reuse, repair, sustainability, waste hierarchy.JEL: Q54, Q57, Q58
Smart Cities and Socio-Economic Development in Nigeria: Evidences from some selected Countries.
Full text linkThe rate at which cities are growing over decades with unprecedented increase in the use of utilities such as water, energy, education, housing, sanitation etc. calls for concern. The unprecedented population growth has led to the agitation for smart cities where little efforts will be utilized to achieve maximum output. However the government of Nigeria has put in place some measures to achieving smart city concept that will assist the citizens to live better life that will lead to a robust socio-economic, despite this feat the country has not explored the concept maximally to increase better living that will engender a robust socio-economic development. Sequel to this background that this study examines the role plays by smart cities in ensuring socio-economic development in Nigeria. The secondary data used in this study was gathered from existing publications. Being a qualitative research, content analysis was employed in the interpretation of the data. It was revealed that smart city arrangement in Nigeria is poor, hence this affect socio-economic activities most especially in the areas of trade and commerce, education, security, health to mention but a few. The study therefore recommends that government should encourage private sector through public private partnership to achieve this feat
RANKING OF EU COUNTRIES ACCORDING TO INNOVATION POTENTIAL
Full text linkIn a high-tech society, the main factor of economic development are activities related to research and development (R&D). The purpose of the paper is to rank all 27 countries of the European Union (EU) according to selected indicators of innovation potential. The author singled out five relevant indicators from the Eurostat database (section related to innovation) in the assessment of the conditions for innovation development in the EU using the MOORA (Multi-Objective Optimization on the basis of Ratio Analysis) method. Based on the conducted multi-criteria analysis, the author concludes that Germany, Sweden, France and the Netherlands have the best innovation performance, so that these countries are the closest to achieving the goals of a highly competitive economy and sustainable economic development. On the other hand, Romania, Cyprus, Slovakia and Croatia show the weakest innovation potential, followed by other newer EU members
Risk Aversion and Self Insurance Utilisation: Evidence from Small and Medium Scale Business Owners in Lagos State
Full text linkThis study is to examined the influence of risk aversion on the adoption and utilisation of self-insurance among Small Medium Enterprises (SME) owners in Lagos State. This study employed cross sectional class of survey research design. Three hundred and fifty SME owners were selected using Taro Yamane formula and the data obtained was analyzed using correlation and t-test inferential statistics. Questionnaires were administered through convenience sampling method. The result of the study revealed a significant relationship between risk aversion and self-insurance utilisation among SME owners in Lagos State. Additionally, the result of this study also revealed that there is no significant difference between preference for conventional insurance and self-insurance among Lagos State SME owners. Based on the findings of this study, it is recommended that conventional insurers should endeavour to develop products that address the actual needs of SMEs. It is also recommended that SME owners should be highly disposed to risk improvement measures as this would help to reduce the cost of market insurance and self-insurance even if both are taken up contemporaneously
Nigeria-China Bilateral Relations: The Current Challenges, 2015-2020
Full text linkThe year 2020 marked the 50th anniversary of diplomatic relations between Nigeria and China. Despite the functioning of Sino-Nigerian bilateral relations, Nigerians have resented and criticized every socio-economic interaction. Concern was raised about the alleged disadvantages on Nigeria's fragile economy by the dumping of inferior Chinese industrial products in Nigeria. Some scholars claim that Nigeria's investment in China has less opportunities to survive due to the restrictions on employment and visa restrictions faced by many Nigerians to explore business opportunities in China. It is against this backdrop, this study examined the relationship between Nigeria and China, accessing their strategic relevance and the current challenges in their bilateral relations. The study also pinpoint into Sino-Nigeria relations during the novel corona virus. This work adopts the historical method of discuss and analysis in understanding the Nigeria-China bilateral relations from 2000 till the covid-19 era. In other to properly do this, this paper looks at primary and secondary sources such as books, newspaper reports, interviews, journal articles among others. The study adopted the Neoliberal Institutionalism theory to explain Sino-Nigeria bilateral relations. The findings from the study showed that the bilateral relations benefited China more in terms of trade, its unwillingness to assist Nigeria curb unemployment challenges and the failure to transfer technology to Nigeria. Given that the relationship is lopsided, the study concludes that Nigeria’s problems cannot be solved by China as the former must learn from China’s hard way to industrialization.
 
Cryptocurrencies as an accelerator of sustainable development
No full textAbstract: Globalization and the changes that have affected the world economy conditioned the development of new models of thinking, investing, trading and payment methods in the world economy. The end of the 20th and beginning of the 21st century was marked by rapid technological progress, which has not bypassed any economic sector, and all households have experienced the change. Cryptocurrencies represent a new trade and payments model and a way for making some form of earnings. It is a form of property that is used as a digital asset exchange using new cryptographic algorithms.Keywords: economic development, finances, cryptocurrencies, informatics development, investing.JEL classification: E22, E42, E44, F31, O33
Problems and restrictions in the management of digitization projects at large companies
No full text The paper has the following chapters: the need for a good result from the cost-benefit analysis, multi-disciplinary elements in the management of digitization projects, knowledge management in digitization projects, ethical issues – restrictions in digitization projects, natural opposition to change of organization. The use of cost-benefit analysis has the following moments of use: before its launch or choosing the option to carry out the project, if the need for a project for which there are several implementation options has been established by other methods. In digitization projects, one of the concepts used more and more is that of smart infrastructure. Recent management talks about the fact that systems are much more important now than before. One of the problems with current systems is connection.In the case of digitization projects, there are also components that aim only at acquiring the skills necessary for new technological systems or work procedures. In their case, there are many elements already established in the field of education. One of these is the relationship between the importance given to certain knowledge and its usefulness.The process of globalization has extended internationally the regulation of the ethics of certain professions, including in the field of ITC and project management in large companies. The professional ethics as restriction of digitization projects are applicable not only to multinational companies, but to all those operating in a global market.Staff confidence in the usefulness of digitization projects must aim for maximum capacity. Digitization can be conceived as a solution to increase the revenue of the companies as a financial sources to motivate the staff.
MODERN LEARNING IMPROVEMENTS SUPPORTED BY IT SOLUTIONS – SLIDO CASE STUDY FOR BETTER ENGAGEMENT
Full text linkAccording to a study published by UNESCO at the beginning of the coronavirus pandemic, about 84% of the world's population studying some of the educational programs (including formal education through primary, secondary and higher education, and university undergraduate and postgraduate studies) is affected by prevention and social distances. Experts estimate that such disability and absenteeism will cause a significant and noticeable lack of theoretical knowledge and practical skills at the global level for several generations, the study of which was lacking in the process of switching from physical to online teaching and digital study of the material. for studying in the physical environment of a classroom, amphitheatre, laboratory or similar educational facilities.One of the ways to partially alleviate this process of not studying the entire prescribed material and accredited curricula on time relies on more intensive application of IT technologies, innovations and solutions, with a special focus on increasing the degree of student involvement in active learning. One of such IT solutions is SLIDO, an online software, primarily aimed at use for business purposes but certainly and unstoppably finding its way to improve education. This paper aims to explore potentials of increasing students’ engagement through IT solutions like SLIDO
EMPIRICAL STUDY ABOUT THE RELATION BETWEEN FAMILY OWNERSHIP AND FIRM PERFORMANCE: EVIDENCE FOR ROMANIAN FAMILY FIRMS
Full text linkThe objective of the article is to produce and validate a statistical model for quantifying the performance of family firms. Such aim will be achieved through the analysis of a sample of 27 entities from the “family firms from Romania” group. The statistical hypothesis underlying the specification of the model is one according to which selected variables will distinguish the performing family firms from the non-performing ones, regardless of ownership. The article addresses an alternative possibility for assessing the financial performance of family businesses, namely a model created by Carton, R. The complex indicator created by Carton, R, is composed of performance factors such as asset growth, debt change and degree change survival rate (Z-score change), calculated using the Statev coefficient, Z-score. The indicators that were used are extracted from both the Entities’ Balance Sheet and their Profit and Loss Account (on-line), while the modelling is carried out through the Excel statistical modelling