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Econometric assesment of the effectiveness of monetary policy rate on price stability
Get PDFHINEV, Olga, COCIUG, Victoria. Econometric assesment of the effectiveness of monetary policy rate on price stability. In: Development Through Research and Innovation-2020 [online]: The 1st International Scientific Conference: Online Conference for Reserachers, PhD and Post-Doctoral Students, August 28th, 2020, Chişinău: Conference Proceedings. Chişinău, ASEM, 2021, pp. 55-62. ISBN 978-9975-155-03-8.The purpose of this research is to investigate theoretically and empirically the effectiveness of the monetary policy rate in the mechanism of transmitting monetary impulses to the real economy. The decision-making factor associated with the level of the monetary policy rate and the appropriate time of application of this instrument is the basis for an optimal monetary policy from the perspective of ensuring and maintaining price stability. The methodological and empirical aspect is based on the estimation of an error correction model (VECM) by applying the Johansen cointegration test in order to determining the presence of cointegration relationship. The model and the variables included in the model, such as economic growth, inflation and monetary policy rate were associated with the Republic of Moldova. The results of the research highlight the validity of the generated model, and the results of the Johansen cointegration test indicate the presence of long-term cointegrated relationships between variables. Thus suggesting that the NBM base rate is the significant monetary policy instrument applied by the National Bank of Moldova with repercussions on the evolution of the inflationary process, highlighting the persistence of the interest rate channel in reaching the inflation target. JEL: C52; E31; E43; E52
Conferinţa ştiinţifică internațională studenţească, ISSC 2021 "Provocările contabilităţii în viziunea tinerilor cercetători", Ediția a 5-a, 11-12 martie 2021.
Get PDFProvocările contabilităţii în viziunea tinerilor cercetători [Resursă electronică]: Conf. şt. intern. studenţească, ISSC 2021: Culegere de articole ştiinţifice, Ed. a 5-a, 11-12 martie 2021. Chişinău: ASEM, 2021. 396 p. ISBN 978-9975-155-12-0.Acest volum conține 53 de articole în care se analizează probleme actuale a domeniului contabilităţii în viziunea tinerilor cercetători din Republica Moldova, România și Belarus
Accounting for Changes in Social Capital
Get PDFLUNGU, Daniela. Modul de contabilizare a modificărilor capitalului social = Accounting for Changes in Social Capital. În: Simpozion Ştiinţific Internaţional al Tinerilor Cercetători (16-17 aprilie 2021) [online]: Lucrări ştiinţifice. Ediţia a 19-a. Chişinău: ASEM, 2021, vol. 2, pp. 111-114. ISBN 978-9975-155-42-7.In the accounting regulations, changes were made to the operations related to changes in the social capital, in particular which refers to: cancellation of account 312 ,,Additional capital", introduction of the new account 317,,Capital premiums” which is used to account for changes in social capital and concretization of the additional information regarding the own capital, to be presented in the explanatory note of the entities that prepare complete financial statements JEL: M 41
Analysis of the Propagation Effects of Remittances on the Vulnerability of External Trade of the Republic of Moldova
Get PDFDIAVOR, Mircea. Analysis of the Propagation Effects of Remittances on the Vulnerability of External Trade of the Republic of Moldova. In: Eastern European Journal of Regional Studies. December 2021, vol. 7, issue 2, pp. 94-120. ISSN 2537-6179, E-ISSN 1857-436X.In the Republic of Moldova remittances have become a much-discussed subject, the country ranking among the economies with the highest share of remittances in terms of GDP. What is more, remittances, unlike FDI, external trade and other sources of income, seem to have a significant impact on economic growth. Republic of Moldova is a small open economy vulnerable to external shocks. We will examine the effect of remittances on the balance of trade by creating an econometric model. Am attempt has also been made to capture the positive and negative spillovers that migrants’ remittances have on a country’s socio-economic development. Within the research a variety of analytical tools are employed including Granger causality tests, unit root tests, coupled with a structural vector auto regression (SVAR), impulse response function (IRF) analyses and variance decomposition. We find that net trade and remittances are closely associated and follow an almost identical path. Remittances have strong effect on the growth of negative net trade of the Republic of Moldova. JEL Code: F10, F24. DOI: https://doi.org/10.53486/2537-6179.7-2.0
Approaches to standardizing the bank's risk management system
Get PDFКАСЕВИЧ, Ольга. Подходы стандартизации системы управления рисками банка = Approaches to standardizing the bank's risk management system. In: Provocările contabilităţii în viziunea tinerilor cercetători: Conf. şt. intern. studenţească, ISSC 2021: Culegere de articole ştiinţifice, Ed. a 5-a, 11-12 martie 2021. Chişinău: ASEM, 2021, pp. 374-377. ISBN 978-9975-155-12-0.Effective management of banking risks is based on the relevant fundamental studies of the formation of an effective mechanism for regulating financial relations in the banking sector. For this reason, the problem of developing theoretical, methodological foundations and practical recommendations for effective bank risk management is relevant and attracts more and more attention of economists of our time. In an unstable environment, the theoretical foundations and standards of the banking risk management system will help to avoid a significant negative deviation from the planned performance indicators of the bank as a result of the "implementation" of risks, and in a crisis – to avoid bankruptcy, to overcome the crisis situation with minimal losses. JEL: G32
Abordări teoretice a conceptului de stakeholder
Get PDFNICOLAESCU, Victor. Theoretical approaches to the stakeholder concept = Abordări teoretice a conceptului de stakeholder. In: Strategii şi politici de management în economia contemporană [Resursă electronică]: conf. şt. intern., ed. a 6-a, 26-27 mar. 2021. Scientific committee: Ala Cotelnic [et al.]; organizing committee: Ion Negru [et al.]. Chişinău: ASEM, 2021, pp. 139-147. ISBN 978-9975-155-20-5 (PDF).The current economic and managerial trends condition the realization of complex studies on the factors that have a significant impact on the economic agents. At the same time, it is certain that each factor has an influence on the development and functioning of other factors, which in turn influence this factor. Or, from a philosophical point of view, it is a complex, complicated process and that is why we consider it is important to study the impact of stakeholders on an economy or a separate economic agent. There are several theories and models that are oriented towards the study of stakeholders. JEL:M1 Business Administratio
The Importance of Soft Skills in the Art of Managing Modern Enterprises
Get PDFAHMADOVA, Asia. Важность soft skills в искусстве управления современными предприятиями = The Importance of Soft Skills in the Art of Managing Modern Enterprises. În: Simpozion Ştiinţific Internaţional al Tinerilor Cercetători (16-17 aprilie 2021) [online]: Lucrări ştiinţifice. Ediţia a 19-a. Chişinău: ASEM, 2021, vol. 2, pp. 75-77. ISBN 978-9975-155-42-7.Are considered the essence and necessity of soft skills in professional activity. Is given quote from a well-known person in the field of management. An example of using soft skills in an enterprise is also shown. The purpose of the study is to identify the importance of flexible skills for both the manager and employees of a modern enterprise. The work is based on the research of professionals in the field of management and some companies. JEL: M50
Modelling the Impact of Energy Subsidies Reform in the Republic of Moldova
Get PDFROSCOVAN, Mihail. Modelarea impactului reformei subvențiilor energetice în Republica Moldova = Modelling the Impact of Energy Subsidies Reform in the Republic of Moldova. In: Economica. 2021, nr. 2(116), pp. 7-21. ISSN 1810-9136.În articol, sunt prezentate metodologia și rezultatele modelării pentru analiza accesibilității la energie și evaluarea impactului fiscal și de mediu, a unei posibile creșteri a taxei pe valoare adăugată, asupra accesibilității gospodăriilor, pentru a consuma niveluri adecvate de gaze naturale, energie electrică și termică. Analiza impactului reformei schemelor subvențiilor energetice se efectuează pe baza unui model de echilibru parțial, care măsoară impactul: asupra accesibilității energiei pentru diferite grupuri de gospodării; asupra veniturilor și cheltuielilor bugetare, dar și asupra emisiilor de gaz cu efect de seră. Aplicarea unor politici sociale direcționate generează surplus bugetar, care poate fi alocat programelor de eficiență energetică pentru clădirile rezidențiale. CZU: 336.56:620.9(478). JEL: H25, H31.
************************************************************************************************************************************* This article presents the methodology and results of modelling for the analysis on energy affordability and assessing the impact of a possible value added tax increase on the affordability of households to consume adequate levels of natural gas, electricity and heat. The analysis of the reform impact of the subsidy schemes is based on a partial equilibrium model which measures the impact of reforms on energy affordability of different householder groups and budgetary revenue and expenditure, but also on greenhouse gas emissions. Using of targeted social policies generates a budget surplus that can be allocated to energy efficiency programs for residential buildings. CZU: 336.56:620.9(478). JEL: H25, H31
Innovative Small and Medium-Sized Enterprises: the Problem of Development and Financing
Get PDFLobanov, Natalia. Întreprinderile mici și mijlocii inovaționale: problema dezvoltării și finanțării = Innovative Small and Medium-Sized Enterprises: the Problem of Development
and Financing. In: Economica. 2021, nr. 2(116), pp. 78-95. ISSN 1810-9136.În prezentul articol, sunt analizate problemele de dezvoltare și finanțare, cu care se confruntă Întreprinderile mici și mijlocii (IMM) inovaționale în Republica Moldova. Înainte de a lua în considerare unele dintre sursele de finanțare disponibile întreprinderilor mici și mijlocii, este necesar să se determine care sunt aceste întreprinderi, care este rolul și importanța acestora în economia contemporană, în crearea și promovarea inovațiilor. În această lucrare, se va analiza modul în care Guvernul tinde să sprijine IMM-urile și din ce cauză acestea, adesea, se confruntă cu dificultăți în dezvoltare și în atragerea resurselor pentru finanțarea activităților desfășurate. În același timp, se va acorda o atenție specială surselor moderne de finanțare – fondurilor cu capital de risc și business angels. În cele din urmă, vor fi identificate măsurile ce urmează să fie întreprinse în vederea susținerii dezvoltării IMM-urilor inovaționale. CZU: 334.012.64+334.012.65]:330.341.1(478). JEL: G32, M21, O30.
************************************************************************************************************************************* The present article analyses the development and financing problems faced by innovative SMEs in the Republic of Moldova. Before considering some of the sources of funding available to small and medium-sized enterprises, it is necessary to determine what defines these enterprises, what their role and importance in the contemporary economy is, as well as their role in creating and promoting innovation. This paper analyses the ways in which the government tends to support SMEs and why they often face difficulties in developing and attracting resources to finance the activities. At the same time, special attention will be paid to modern sources of funding – venture capital funds and business angels. Finally, the measures to be taken to support the development of innovative SMEs will be identified. CZU: 334.012.64+334.012.65]:330.341.1(478). JEL: G32, M21, O30
Components and risk factors of food quality
Get PDFTABUNŞCIC, Olga. Elementele componente și factorii de risc ai calității alimentelor = Components and risk factors of food quality. In: Sustenabilitatea: îmbunătățirea produselor destinate consumatorilor și planetei [online]: simp. șt.-practic dedicat Zilei mondiale a calităţii, ed. a 7-a, 11 noiembrie 2021. Chişinău: ASEM, 2021, pp. 79-86. e-ISBN 978-9975-155-58-8.In this article, the research is focused on the components of food quality, such as nutritional quality, sensory quality, hygienic quality, and aesthetic quality. In terms of nutrition, the quality of food is essential and is appreciated according to the ability of the products to meet the energy and plastic requirements of the body. The sensory quality of food is characterized by taste, smell, color, consistency and has a special emotional tone because it is the first contact of the consumer with the product and determines his or her decision to buy the product. The quality of the food, in terms of hygienic value, reflects the chemical, sanitary-hygienic and radioactive safety of the food, and the aesthetic quality refers to the aesthetics of the product as such and the aesthetics of the packaging. The scientific problem solved consists in the theoretical substantiation of the risk factors that can affect the quality of food and, respectively, can cause damage to human health. It is noted that the predominant risk factor determines the degree of food safety, and if this factor is present, there is also the probability of risk situations associated with it, such as food poisoning. Another risk factor is that counterfeit products can reach buyers. Food safety and counterfeiting issues are in most cases invisible to the consumer who does not have sufficient tools and no professional experience. The consumer expects to see guarantees in the field of ensuring safety and protection against food counterfeiting. It is found that the food is of good quality, is innocuous, is not counterfeit, and is good for human consumption only if the mentioned risk factors are excluded. The "quality star" to characterize the quality of food was developed with five main parameters, which are price and product availability; compliance of food with regulatory documents and consumer requirements; customer trust in the product and manufacturer; product identification and traceability, and stable food quality over the shelf life. It concludes that food quality is a complex notion, and quality assurance is a multilateral process that must take into account the complex chain, which includes production, transportation, industrial processing, storage, marketing, and consumption. In order to maintain food quality and safety, advanced technologies, perfect legal support, trained staff, and monitoring procedures to ensure food integrity and protect consumers from unsafe and counterfeit products are needed. JEL: Q18, I150, L110