Current Issue : January-March Volume : 2023 Issue Number : 1 Articles : 5 Articles
The economic security and management of information are crucial elements for the functioning of stakeholders in the free market economy in the XXI century. Indeed, they are inherently interlinked as well. Firstly, without an adequate level of security, information or finance, it is impossible to ensure the stable and sustainable functioning of businesses in the free market economy. Secondly, without a development, it would not be possible to continuously expand the potential of broadly understood economic security, including data management, i.e., Big Data. The issue of broadly understood security and data management in such rapidly shifting market conditions is at the core of modern states....
With the continuous development of digital technology, the rapid integration of digital technology and the financial industry will have a significant impact on China’s economic development trend and quality. Based on the fixed effect model and data from 31 Chinese provinces from 2013 to 2021, this paper investigates whether digital finance affects economic development, delves deeper into the mechanism of digital finance’s impact on economic development, and examines regional differences in development. It is discovered that digital finance has a significant positive impact on economic development, and further mechanistic analysis shows that digital finance contributes to economic development by attracting foreign direct investment and optimizing the industrial structure. Digital finance plays a different role in promoting different regions, with the greatest impact on the western region, followed by the central region, while the impact on the eastern region is unclear, particularly in low-income regions....
The reference values of the deficit/GDP ratio and of the debt/GDP ratio are constant and they are equal 3% for the deficit/GDP ratio and 60% for the debt/GDP ratio in European Union countries. The occurrence of extraordinary situations, such as the financial crisis, economic crisis, military conflict or pandemic, often makes it impossible to meet the fiscal criteria when there are constant reference values for deficit/GDP ratio and for debt/GDP ratio. Then, general escape clause may be activated in the European Union countries, allowing for a temporary deviation from EU Council's recommendations regarding budgetary policy, provided that such deviation does not threaten the sustainability of public finances in the medium term. Thus, the existence of constant reference values makes it impossible to take activities to support the economy in times of crisis. In this article, we present the selected methods of estimation of the alternative reference values that take into account the cyclical factor of estimating the reference values of macroeconomic fiscal instruments related to deficit/GDP and debt/GDP ratios. We suggest replacing the constant reference values with the variable reference values which can be alternative reference values. We present an empirical analysis for data for Poland. The proposed methodology allows determining the variable reference values that take into account the occurrence of different extraordinary situations, which will imply no necessity to activate an escape clause for fiscal rules and better control of the stability of public finances....
Shaanxi is a famous historical city in northwest China. In recent years, driven by the construction of FTZ (the abbreviation of Free Trade Zone), the construction of ports in Shaanxi has made great progress and the volume of import and export goods has increased greatly. This paper studies the current situation of the port economy after the establishment of FTZ through literature analysis and holds that compared with developed regions; there are still some practical problems such as inadequate customs services, low cooperation efficiency and other issues. After analysis, this paper puts forward some countermeasures and suggestions from the aspects of improving the level of trade facilitation, increasing government support and so on....
The COVID-19 pandemic has already struck a hard blow, affecting economies all over the world. At the current juncture, it still represents a relevant source of uncertainties, as new variants have recently emerged and witness a fast spread. To these adds the threat to economic activity induced by the ongoing war in Ukraine. In this context, a robust assessment of the current state of the economy is relevant to both policymakers – when formulating the mix of economic policies - and people outside public administration – for further decisions on consumption, saving and investment. The aim of this paper is to build a representative economic activity index in the case of Czechia, Hungary, Poland and Romania. Empirical evidence provided by the principal component analysis shows an incomplete pass-through of external shocks. The representative index for economic activity also points to temporary positive effects induced by policy measures introduced during the pandemic which could have been higher in the lack of existing structural deficiencies....
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