scholarly journals Investment models in transition process

2020 ◽  
Vol 71 (1) ◽  
pp. 67-85 ◽  
Author(s):  
Jelena Andrašić ◽  
Branimir Kalaš ◽  
Vera Mitrović ◽  
Nada Milenković
Keyword(s):  
Economic Growth ◽  
Bosnia And Herzegovina ◽  
Transition Process ◽  
Transition Countries ◽  
Investment Model ◽  
Institutional Distance ◽  
Mutual Exchange ◽  
Partial Ownership ◽  
Investment Models ◽  
Multivariate Cluster

Based on a theoretical review of investment models through full and partial ownership, the aim of the paper is to provide an examination of factors that influence to the choice of investment model in six transition countries from region provide recommendations that which investment models would be appropriate between observed countries. Using a multivariate cluster analysis on a sample of six transition countries from region, a grouping of countries was carried out according to next criteria in the period 2000- 2014: a) economic growth, b) competitiveness and c) institutional distance. The results of analysis have shown that Serbia, Bosnia and Herzegovina, Montenegro and Macedonia should choose the investment model of partial ownership when investing in Croatia and Slovenia. Slovenia and Croatia should choose investment model of full ownership when investing in Bosnia and Herzegovina and Macedonia, especially in Serbia and Bosnia and Herzegovina because they represent a growing market. Also, in mutual exchange, Slovenia and Croatia should choose models of full ownership, as well as Serbia, Montenegro, Macedonia and Bosnia and Herzegovina.

scholarly journals Some Applications of Lévy Processes to Stochastic Investment Models for Actuarial Use

1998 ◽  
Vol 28 (1) ◽  
pp. 77-93 ◽  
Author(s):  
Terence Chan
Keyword(s):  
Time Series ◽  
Brownian Motion ◽  
Differential Equations ◽  
White Noise ◽  
Stochastic Differential Equations ◽  
Continuous Time ◽  
Investment Model ◽  
Stable Processes ◽  
Gamma Processes ◽  
Investment Models

AbstractThis paper presents a continuous time version of a stochastic investment model originally due to Wilkie. The model is constructed via stochastic differential equations. Explicit distributions are obtained in the case where the SDEs are driven by Brownian motion, which is the continuous time analogue of the time series with white noise residuals considered by Wilkie. In addition, the cases where the driving “noise” are stable processes and Gamma processes are considered.

scholarly journals The Analysis of Competitiveness and Economic Growth: A Case Study of Transition Countries

2013 ◽  
Vol 6 (5) ◽  
Author(s):  
Cevat Gerni ◽  
Burhan Kabadayi ◽  
Ziya Caglar Yurttancikmaz ◽  
Omer Selcuk Emsen
Keyword(s):  
Economic Growth ◽  
Transition Countries

Small business in Russia—factors that slowed its development: an analysis

2003 ◽  
Vol 36 (2) ◽  
pp. 193-207 ◽  
Author(s):  
Alessandro Kihlgren
Keyword(s):  
Czech Republic ◽  
Small Business ◽  
Interest Groups ◽  
Strong Influence ◽  
Transition Process ◽  
Transition Countries ◽  
Economic Recovery ◽  
Natural Question ◽  
The Czech Republic

In Russia the growth of small business has been much slower compared with the leading transition countries (Poland, the Czech Republic and Hungary). In Poland, and to a lesser degree in the Czech Republic and Hungary, this sector has been the engine of the economic recovery. A natural question is why Russia differs. Apart from the fact that in contrast to these countries Russia does not have an entrepreneurial tradition and has experienced communist rule longer what is especially distinctive about Russia has been the strong influence of interest groups during the transition process which favoured the allocation of entrepreneurship to largely unproductive activities.

scholarly journals Electoral rules, forms of government, and political budget cycles in transition countries

2008 ◽  
Vol 55 (2) ◽  
pp. 185-218 ◽  
Author(s):  
Marko Klasnja
Keyword(s):  
Transition Process ◽  
Transition Countries ◽  
Policy Outcomes ◽  
Political Systems ◽  
Checks And Balances ◽  
Political Budget Cycles ◽  
Context Sensitive ◽  
Optimal Outcomes ◽  
Parliamentary Systems ◽  
Presidential Systems

Recent studies have suggested the existence of 'election-year economics' in fiscal policy in transition countries. This study asks whether such electoral cycles in aggregate measures (overall expenditures, revenues and balance) and spending composition (broad vs. targeted outlays) differ among countries with different political systems. This question is motivated by a sharp division between majoritarian presidential systems in Central Asia and Eastern Europe, and proportional-parliamentary systems in the Baltic's, Central and Southeastern Europe. Further, in the absence of context-sensitive theories, the paper asks whether observed outcomes in the transition process conform to the theoretical priors developed for conditions in stable democracies. Finally, the paper attempts to normatively establish whether either of the alternative combinations yields more optimal policy outcomes. The results suggest that the differences indeed exist, primarily on the revenue side and in the composition of expenditures. These results differ markedly from those for stable democracies, especially in the case of composition of spending. Normatively, presidential yields sub optimal outcomes in comparison to parliamentarians, likely due to inefficient system of constitutionally intended checks and balances. .

scholarly journals Assessing Moving Targets: the Impact of Transition Stages on Entrepreneurship Development

Ekonomika ◽  
2005 ◽  
Vol 69 ◽  
Author(s):  
Ruta Aidis ◽  
Arnis Sauka
Keyword(s):  
Empirical Studies ◽  
Job Creation ◽  
Transition Process ◽  
Transition Countries ◽  
Legal Issues ◽  
Entrepreneurship Development ◽  
The Impact ◽  
Development Perspective ◽  
Transition Stages ◽  
Selection Of

An issue that has recently gained in importance in transitional literature is the need to develop a thriving small and medium-sized enterprise (SME) sector since it can contribute significantly to innovation, job creation and economic growth. However, the specific characteristics of SMEs make them especially vulnerable to changes in the legal, social and environmental context. In this paper we are interested in the barriers that SME development encounters during different stages in the transition process. There is no consensus regarding ‘transition stages’, yet various indicators measuring certain aspects of transition progress have been developed. For this paper, we apply a selection of indicators proposed in previous research to approximate three transitional stages that would make sense from an entrepreneurship development perspective. We utilise these indicators to categorise 23 transition countries into transitional stages. On the basis of that utilisation we develop a framework in which we can identify SME development trends based on our analysis of the 25 empirical studies on constraints facing SMEs in transition countries. Our preliminary results indicate that more fundamental barriers related to legal issues are more characteristic of the early stages of transition, while more specific constraints related to human resources and skill development characterise later transition stages.

scholarly journals External Debt and Economic Growth in Transition Countries: Case of Kyrgyzstan

2020 ◽  
pp. 60-75
Author(s):  
Junus Ganiev ◽  
Damira Baigonushova ◽  
Nurbek Madmarov ◽  
Raziiakhan Abdieva
Keyword(s):  
Economic Growth ◽  
External Debt ◽  
Transition Countries

Youth Employability in WB Countries

2016 ◽  
pp. 315-326
Author(s):  
Jovan Zubovic ◽  
Dejana M. Pavlovic
Keyword(s):  
Youth Unemployment ◽  
Transition Process ◽  
Developed Countries ◽  
Transition Countries ◽  
Internal Factors ◽  
The Czech Republic ◽  
Unemployment Rates ◽  
Positive Effects ◽  
Transitional Countries

Transition in WB countries was supposed to enable the establishment of a better economic system. However, not all transitional countries have been conducting appropriate follow-up activities during their transition process. Success of transition depended on the country's internal factors and on their pre-transition economic situation? In all WB countries privatization led to high unemployment rates, low GDP growth and poor living standards especially for youth. At the same time, the transition has had positive effects in other transition countries like the Czech Republic, Estonia, Hungary, Latvia etc. The aim of this paper is to research a position of the youth in WB transition countries including Serbia, Montenegro, B&H, and Macedonia. The paper will follow the changes in youth unemployment in the period 2000 to 2014 in WB, other transition and EU15 countries. Comparisons of the achieved youth unemployment levels will give the opportunity to determine which the good practices are used in other developed countries that have resulted with significantly lower youth unemployment rates.

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