Template-Type: ReDIF-Article 1.0
Author-Name: Merlin Thanga Joy Atchuthen
Author-Name-First: Merlin Thanga Joy
Author-Name-Last: Atchuthen
Author-Email: merlinjoy79@gmail.com
Author-Workplace-Name: London School of Science and Technology
Author-Name: S. Sankara Muthu Kumar
Author-Name-First: S. Sankara
Author-Name-Last: Muthu Kumar
Author-Email: shankardsge@gmail.com
Author-Workplace-Name: Commercial Studies Division, Bahrain Training Institute
Title: HOW THE ENERGY SECTOR IS AFFECTING ECONOMIC GROWTH – COMPARING THE UNITED KINGDOM WITH INDIA
Abstract: A country's economy depends heavily on energy. Economic productivity and industrial growth depend on the use of energy in modern economies. In a modern economy, energy is responsible for more than one-tenth of the cost of production but accounts for most industrial growth, according to Barney and Franzi (2002). The economy’s need for energy has grown at about the same rate as that of wealth. It is a fact that wealth creation is predominantly calculated based on the usage of energy by society. At the beginning of the 19th century, biomass is the preferred choice of fuel. Energy demand in the west and advanced economies increased more rapidly because of rising standards during the end of the 20th century. In most production and consumption activities, energy plays a significant role in economic growth. An analysis of the energy sector components and their impacts on economic progress in two countries, the United Kingdom and India, was conducted based on an analytical approach. It is found in both countries that energy efficiency and foreign direct investment (net inflows) are positively correlated. Both the United Kingdom and India have significant correlations between energy efficiency and GDP (percentage of GDP). Employment rates and energy efficiency go hand in hand in both countries. India's GDP per capita growth (annual %) is positively correlated with energy efficiency (0.447). This study followed only the economic indicators from the World Bank Development Indicators report.
Classification-JEL: F39
Keywords: Inflation, Energy efficiency, Consumption, GDP, unemployment, per capita growth
Journal: International Journal of Economic Sciences
Pages: 1-14
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117047
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117047?download=1
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:1-14
Template-Type: ReDIF-Article 1.0
Author-Name: Lukáš Bernat
Author-Name-First: Lukáš
Author-Name-Last: Bernat
Author-Email: luk.bernat@gmail.com
Author-Workplace-Name: Vysoká škola Ekonomická v Praze, Národohospodá?ská fakulta, Katedra Filosofie 
Author-Name: Radka Michlová
Author-Name-First: Radka
Author-Name-Last: Michlová
Author-Email: radka.michlova@seznam.cz
Author-Workplace-Name: Vysoká škola Ekonomická v Praze, Národohospodá?ská fakulta, Katedra regionálních studií 
Author-Name: Helena Mitwallyová
Author-Name-First: Helena
Author-Name-Last: Mitwallyová
Author-Email: mitwally@volny.cz
Author-Workplace-Name: Vysoká škola Ekonomická v Praze, Národohospodá?ská fakulta, Katedra práva
Title: Pattern classification on specifics of public sector investments and budgeting principles
Abstract: The aim of the study is to find patterns in an exact complete data set containing the annual budget of all municipal subjects in the Czech Republic over the past 20 years. The focus of the analysis is on which resources could enable the development of and investment in municipal assets, especially estate property. The financial and real estate analysis (FAMA) method was chosen, which provides comparable indicators to calculate the debt service and other related features of subject performance on a municipal level. These indicators demonstrate whether municipal subjects follow responsible budgeting principles and/or how they utilize their own resources. Comparing similar studies using mentioned data and methodology there is a gap between context of data in time a relation chosen indicators. The reason of obstacle is to put data in time-series and properly analyze them. This appropriate items of indicators are aggregated so all the connections between them and other items are lost. In enormous amount of data study uses classification tools to unfold hidden patterns how does municipal budgeting develop in time without knowing details about each case in context of debt and assets. Study convert time dimension to static indicator of its dynamics a using pure K-Means classification conclude having 6 different clusters which differ each other in some of indicators. Within broader context of those clusters we propose an overview of municipal budgeting strategies. In big cities dominates financing of investment by debt and the rest of clusters differs usually significantly with small impact of their population size that is one of determinants budget income therefore essential budget part. 
Classification-JEL: C55, C38, H72
Keywords: FAMA; classification, clustering municipalities; investment, budgeting, debt
Journal: International Journal of Economic Sciences
Pages: 15-37
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117058
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117058?download=2
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:15-37
Template-Type: ReDIF-Article 1.0
Author-Name: Klára ?ermáková
Author-Name-First: Klára
Author-Name-Last: ?ermáková
Author-Email: klara.cermakova@vse.cz
Author-Workplace-Name: Prague University of Economics and Business, dept. of Economics
Author-Name: Eduard Hromada
Author-Name-First: Eduard
Author-Name-Last: Hromada
Author-Email: eduard.hromada@fsv.cvut.cz
Author-Workplace-Name: Czech Technical University
Author-Name: Ondrej Bednar
Author-Name-First: Ondrej
Author-Name-Last: Bednar
Author-Email: xbedo02@vse.cz
Author-Workplace-Name: Prague University of Economics and Business, dept. of Economics
Author-Name: Tomáš Pavelka
Author-Name-First: Tomáš
Author-Name-Last: Pavelka
Author-Email: tomas.pavelka@vse.cz
Author-Workplace-Name: Prague University of Economics and Business, Prague University of Economics and Business, Department of Managerial Economics 
Title: REAL ESTATE MARKET AT A CROSSROAD - ERA OF AFFORDABLE HOUSING IS GONE
Abstract: Within a broad discussion on property price formation and property market specifics this paper aims to investigate the relationship between property price trends and number of transactions occurred on housing market. Specifically, we test if housing transaction volumes and rents are good predictors of housing prices and discuss causalities and differences in this relationship on the sales and rental property markets. We bring evidence from selected European property markets about the relationship between property price trend and number of transactions occurring on this market. We argue that increased number of transactions is predictive of increase in property price, but prices tend to be rigid in the opposite (downward) direction. Thus, cooling down of demand for properties may rather decrease number of transactions than push down property prices. This appealing result may bring light into understanding why property prices appreciate across time and countries.
Classification-JEL: O18
Keywords: housing market; property price; transactions; rent; housing affordability; market turnover; inflation; mortgage loans
Journal: International Journal of Economic Sciences
Pages: 38-61
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117056
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117056?download=3
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:38-61
Template-Type: ReDIF-Article 1.0
Author-Name: Rahi Dhond
Author-Name-First: Rahi
Author-Name-Last: Dhond
Author-Email: rahi.adhond@gmail.com
Author-Workplace-Name: Fergusson College
Author-Name: Shantanou Gangakhedkarr
Author-Name-First: Shantanou
Author-Name-Last: Gangakhedkarr
Author-Email: shantanou4@gmail.com
Author-Workplace-Name: Fergusson College, Pune
Author-Name: Shreya Siddanagowder
Author-Name-First: Shreya
Author-Name-Last: Siddanagowder
Author-Email: getshreya27@gmail.com
Author-Workplace-Name: Fergusson College, Pune
Title: An Opinion-based research on Cryptocurrency and it's functioning in India.
Abstract: This paper aims to analyse the crypto market in India from the viewpoint of consumers who could potentially trade in these markets and extend the extent of their behaviour to the importance of a regulatory body within the economy. The central idea of this paper is to estimate the importance of a central bank in the minds of people and how it affects their trust on a currency which is unregulated. This forms the first tier of the paperIn order to get insight into the more technical dynamics of cryptocurrencies, the paper then studies cryptocurrency from the point of view of experts who explain the different dimensions of the crypto markets. This forms the second tier of the paper.The paper aims to analyse from the surveys conducted and the available literature, the nature of the crypto market in India with a more reporting approach than a problem-solving model.The research is based on primary data collected by means of surveys and structured interviews. These are termed as the two tiers in the paper. Using quantitative statistical analysis to find the common trend of the sample and a descriptive approach for the analysis of the interviews, the paper examines how the two tiers behave single-handedly and their dynamic when they interact. 
Classification-JEL: L51, G18, O38
Keywords: Cryptocurrency, Governance, Digital Currency, Digitization, Central Bank Digital Currency, Regulation, Investment and Regulation
Journal: International Journal of Economic Sciences
Pages: 62-84
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117048
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117048?download=4
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:62-84
Template-Type: ReDIF-Article 1.0
Author-Name: Oldrich Kucera
Author-Name-First: Oldrich
Author-Name-Last: Kucera
Author-Email: oldrich.kucera@mensa.cz
Author-Workplace-Name: Prague University of Economics and Business
Author-Name: Bozena Kaderabkova
Author-Name-First: Bozena
Author-Name-Last: Kaderabkova
Author-Email: kaderabb@vse.cz
Author-Workplace-Name: Prague University of Economics and Business
Title: Consumers´ Decision-Making under Salop´s Model: Key Study on Starbucks Prague and Richmond business model
Abstract: This study thesis analyses the Starbucks business model in Prague and Richmond from the location perspective, focusing on the company’s consumers and their decision-making towards commuting to the stores. Using modified Salop’s circle model, the transportation costs of the average Starbucks consumer in both cities are calculated, explained, and compared. It is revealed that the average Starbucks consumer in Richmond bears, on average, 1.255x higher transportation costs than the one in Prague and is willing to travel 2.54x higher distances to purchase the average Starbucks product. In addition, after analyzing transportation costs, the study offers a real-life applicable business proposal for where to place a new Starbucks store in both cities, based on several techniques often used in business consulting for solving case studies. The suggested most suitable location for the new store in Prague is the Prague main railway station. In contrast, the best location in Richmond is the intersection of West Broad Street E and North Lombardy Street, close to Virginia Commonwealth University. The study’s main contribution is the inverting of Salop’s circle model and emphasizing transportation costs as an endogenous variable. In general terms, this study may guide spatial optimization in business strategies, from circular economy applications to strategic managerial decisions in locations with different consumer sensitivity to transportation costs.
Classification-JEL: D12, D43, L22
Keywords: Salop’s Model; Transportation Costs; Consumers´ Decision-Making; Business Strategy; Cost Optimization; Competition
Journal: International Journal of Economic Sciences
Pages: 85-115
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117041
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117041?download=5
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:85-115
Template-Type: ReDIF-Article 1.0
Author-Name: Daniel Macek
Author-Name-First: Daniel
Author-Name-Last: Macek
Author-Email: daniel.macek@fsv.cvut.cz
Author-Workplace-Name: Faculty of Civil engineering, CTU in Prague 
Title: A Tool for Evaluating Public Procurement in the Context of Life Cycle Costs
Abstract: The paper deals with the issue of selection procedures. The goal is to show how it is possible to incorporate a view of life cycle costs into the tender process, and not only deal with the aspect of investment costs. The paper is proposed by the Life Cycle Cost Inspector (LCCI). LCCI divides investment opportunities into individual components with their own operating characteristics and costs, allowing for a clear comparison of different investment alternatives. The tool considers acquisition costs, operating costs, and disposal costs over a specific period. LCCI also allows for reverse evaluation, where investment costs are modified based on efficiency. The tool's universality enables its use across various sectors, not just the construction industry. The author aims to shift public practice from tendering "on price" to "tendering on quality" by providing a simple methodology for comparing investment options based on the entire life cycle costs. The application is based on the Building Cost Information Service (BCIS) standard issued by the Royal Institution of Chartered Surveyors (RICS).
Classification-JEL: C51, L74
Keywords: Evaluation Tool; Life Cycle Costs; Tender
Journal: International Journal of Economic Sciences
Pages: 116-126
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117057
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117057?download=6
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:116-126
Template-Type: ReDIF-Article 1.0
Author-Name: Emeka Nkoro
Author-Name-First: Emeka
Author-Name-Last: Nkoro
Author-Email: nkoro23@yahoo.co.uk
Author-Workplace-Name: Department of Economics, University of Port Harcourt
Author-Name: Godly Otto
Author-Name-First: Godly
Author-Name-Last: Otto
Author-Email: godly.otto@uniport.edu.ng
Author-Workplace-Name: Department of Economics, University of Port Harcourt
Title: Fiscal Federalism and Economic Development in Nigeria: An Econometric Analysis
Abstract: This study examined the impact of fiscal federalism on economic development in Nigeria over the period 1981 to 2020 using annual time series. Both revenue and expenditure decentralization were used as measures of fiscal federalism. Analytically, the study employed the autoregressive distributed lag approach. The result reveals that in the long run, revenue and expenditure decentralization have a positive and significant impact on economic development in Nigeria, and many scholars have validated this finding. This finding shows that true fiscal federalism is better captured by both subnational revenue and expenditure decentralization. Given the finding, the study suggests that more fiscal power should be devolved to state and local governments in Nigeria through appropriate legislation.
Classification-JEL: C10, H11, H71
Keywords: Fiscal Federalism, Revenue Decentralization, Expenditure, Economic Development, ARDL Approach
Journal: International Journal of Economic Sciences
Pages: 127-145
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117055
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117055?download=7
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:127-145
Template-Type: ReDIF-Article 1.0
Author-Name: Tomislava Pavic Kramaric
Author-Name-First: Tomislava
Author-Name-Last: Pavic Kramaric
Author-Email: tpkramaric@forenzika.unist.hr
Author-Workplace-Name: University of Split, University Department of Forensic Sciences
Title: Performance of Slovenian Listed Firms during COVID-19 Out-break
Abstract: This research aims to estimate the determinants of firm performance during the COVID-19 pandemic. For this purpose, the sample of Slovenian non-financial listed firms operating in the period 2017 – 2021 is used. Firm performance is expressed with market-based as well as accounting-based performance measures, including Tobin's Q, ROA, and ROE, while potential determinants encompass several firm-oriented variables. These are the firm size, liquidity expressed with the current ratio, leverage, tangibility, sales growth, age of the firm as well as COVID-19 dummy variable. The results of dynamic panel analysis disclose that liquidity, leverage, sales growth, and COVID-19 dummy are statistically significant in explaining firm performance. Specifically, liquidity and leverage are found to be significant in explaining Tobin's q, sales growth is a statistically significant determinant of both ROA and ROE while the latter is also negatively impacted by leverage and the COVID-19 dummy.
Classification-JEL: L25, G30, C23
Keywords: firm performance; dynamic panel analysis; Tobin’s Q; ROA, ROE; listed firms, COVID-19, Slovenia
Journal: International Journal of Economic Sciences
Pages: 146-160
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117050
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117050?download=8
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:146-160
Template-Type: ReDIF-Article 1.0
Author-Name: Adéla Zubíková
Author-Name-First: Adéla
Author-Name-Last: Zubíková
Author-Email: adela.zubikova@vse.cz
Author-Workplace-Name: Faculty of Economics, Prague University of Economics and Business
Author-Name: Kristýna Veselá
Author-Name-First: Kristýna
Author-Name-Last: Veselá
Author-Email: krisyna.vesela@vse.cz
Author-Workplace-Name: Faculty of Economics, Prague University of Economics and Business
Author-Name: Pavel Smolák
Author-Name-First: Pavel
Author-Name-Last: Smolák
Author-Email: pavel.smolak@vse.cz
Author-Workplace-Name: Faculty of Economics, Prague University of Economics and Business
Title: Evaluation Of The Antivirus A Programme In The Czech Republic During The COVID-19 Pandemic
Abstract: This paper analyses an employment support programme – the Antivirus A Programme – implemented in the Czech Republic during the COVID-19 pandemic aimed at maintaining a constant level of employment. We present this government programme in detail, including individual data related to its effectiveness and examine similar employment support programmes in other EU countries during the pandemic. We also analyse the economic development of sectors that received employment support. The main contribution of the paper is the creation of a counterfactual scenario of unemployment and inflation rate in the Czech Republic in the absence of the Antivirus A Programme using a short-run Phillips curve concept. According to Bajgar et al. (2021), one third of Czech workers could work from home during the pandemic. We find that if these workers had not been supported by the Antivirus A Programme, Czech taxpayers could have saved EUR 0.15 billion and inflation rate could have been reduced (based on our short-run Phillips curve model) by 0.66–0.99 p.p. for the entire duration of the Antivirus A Programme depending on the choice of assumptions related to the possibility of working from home.
Classification-JEL: E24, E65, J33
Keywords: Antivirus A Programme, COVID-19 pandemic, unemployment, fiscal policy, government intervention, short-run Phillips curve
Journal: International Journal of Economic Sciences
Pages: 161-188
Volume: 12
Issue: 1
Year: 2023
Month: May
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117045
File-URL: https://eurrec.org/RePec/aop/jijoes/0085ES.rdf117045?download=9
Handle: RePEc:aop:jijoes:v:12:y:2023:i:1:p:161-188