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Open access

Ioan-Mădălin Neagu

Abstract

In the present paper, a fog computing framework for smart urban transport is developed. The proposed framework is adapted to the smart city concept. It uses a collaborative multitude of end-user clients to carry out a substantial amount of communication and computation. It can be adapted for specific situations of smart cities in Romania, such as: Cluj-Napoca, Timișoara, Iași or Bucharest. Economic and social implications as well as available European funding sources are presented.

Open access

Irina Ene

Abstract

With disruptive technologies constantly emerging, the impact of artificial intelligence is becoming a relevant topic nowadays. An extensive investment in business intelligence support systems has been recognized as one of the top priorities of most successful managers. However, these constant internal changes of systems and management styles rarely happen smooth and natural, and frequently they trigger serious issues for the companies and its interactions with their customers. Implementations like automated call centers and online payment systems are just mainstream examples which can be used to show the numerous implications of the intrusion of artificial intelligence systems in our everyday life. With the increasing use of various forms of technology, an ongoing discussion has emerged about people's willingness to accept these technological trends. There are, of course, both pro and counter arguments to be discussed. In this article there are presented the results of an eye-tracking experiment about the reaction of consumers towards several forms of artificial intelligence. It has been shown that consumers have the tendency to react more at unexpected situations involving robots and forms of artificial intelligence.

Open access

Olimpia Neagu

Abstract

The paper documents the impact of global competitiveness on economic growth in the EU Member States. In a panel data approach, for a time span of 10 years (2008- 2017), a validated influence of Global Competitiveness Index on annual rate of GDP in the EU countries was found. The impact is higher in the group of Eastern and Central European countries (ECE) than in the Western European (well developed) countries, as well as at European economy level.

Open access

Akingbade Urungbodi Aimola and Nicholas M. Odhiambo

Abstract

This paper explores the dynamics of public and private debt in Ghana for the past 32 years. Ghana’s total public debt stock to Gross Domestic Product (GDP) ratio has remained above the 60.0% sustainability threshold recommended by the West Africa Monetary Zone (WAMZ) since 2013. Implemented bank reforms in the country show an upward trend for domestic credit to private sector by banks as a percentage of GDP. Using exploratory review approach, the paper identified fiscal dominance, cost of borrowing, deterioration in export earnings, ineffective fiscal, monetary and debt management policies coordination as factors responsible for changes in total public debt stock. On the other hand, increased domestic borrowings by government from the banks, and Deposit Money Banks’ (DMBs)’ adverse selection in private sector credit allocation affect changes in domestic credit to the private sector by banks. Of these causes, fiscal dominance is the major determinant of public and private debt in Ghana. The study, therefore, recommends that government should pursue fiscal operations that are necessary to put public debt on a declining path. In addition, effective coordination of fiscal, monetary and debt management policies need to be strengthened together with the autonomy of the Bank of Ghana in the use of its monetary policy instruments.

Open access

Richna Handriyani, M.M. Sahyar and M. Arwansyah

Abstract

This research is important because the commencement of the Asean Economic Community (MEA) has a positive impact that is spurring the growth of investment from within and outside the country, so that domestic investment has the potential to increase which will increase the number of employment for Indonesian workers especially in province of North Sumatera.This study aims to: identify the effect of household consumption on economic growth, identify the effect of investment on economic growth, identify the influence of Labor on economic growth, and identify the effect of interest rate on economic growth . The data used in this research were secondary data in 2006-2016 in Province of North Sumatera. Data obtained from various agencies, namely: Department of Labor and Transmigration, Central Statistics Agency of Province of North Sumatra, some other sources such as journals and relevant research results. Methods of analysis using Two Stage Least Square method (TSLS). The results of this study found that: Household consumption has a positive and significant effect to economic growth, Investment has positive and significant effect to economic growth, Labor has positive and significant impact to economic growth, and Interest rate has a negative and significant effect on economic growth.

Open access

Dorel Mateș, Adriana Marina Puşcaş and Daniela Pordea

Abstract

The performance guarantee represents the contractor's liability to ensure the beneficiary on the fulfillment of the quality conditions for the contracted works, as well as of their execution within the agreed contractual term. In the context of a growth trend in the industrial construction market since 2018, we considered it appropriate to study the impact of the performance guarantees on the financial balance of the contractors operating on this market. Through this research we aim to analyze the methods of guaranteeing the construction works, to assess the financial, accounting and fiscal issues of a construction company as a general contractor, to identify potential risks and to find solutions to avoid them.

Open access

Florin Lucian Isac and Eugen Florin Remes

Abstract

Culture is a concept with different meanings, which is in close contact with the business world as well. Its influence on managerial activities within current organizations cannot be questioned, especially in the existing political, economic and social context. Nowadays, one of the specific ways of formulating and implementing strategies at the level of companies is related to the change of organizational culture. This paper aims to highlight, from a managerial perspective, the way in which the existing strategies at the organizational level are influenced by different cultural contexts. Sometimes strategy can be considered as a variable determined and constrained by the culture in which it is defined. It is not limited to the reflection and expression of culture but rather influences and changes it.

Open access

Dan Stelian Deac and Klaus Bruno Schebesch

Abstract

Using efficient marketing strategies for understanding and improving the relation between vendors and clients rests upon analyzing and forecasting a wealth of data which appear at different time resolutions and at levels of aggregation. More often than not, market success does not have consistent explanations in terms of a few independent influence factors. Indeed, it may be difficult to explain why certain products or services tend to sell well while others do not. The rather limited success of finding general explanations from which to draw specific conclusions good enough in order to generate forecasting models results in our proposal to use data driven models with no strong prior hypothesis concerning the nature of dependencies between potentially relevant variables. If the relations between the data are not purely random, then a general or flexible enough data driven model will eventually identify them. However, this may come at a high cost concerning computational resources and with the risk of overtraining. It may also preclude any useful on-line or real time applications of such models. In order to remedy this, we propose a modeling cycle which provides information about the adequacy of a model complexity class and which also highlights some nonstandard measures of expected model performance.

Open access

Olimpia Neagu and Mircea Constantin Teodoru

Abstract

The paper explores the association between economic competitiveness and inclusive development in 101 economies based on data provided by the 2018 World Economic Forum reports. Coefficients of ranks correlation and cluster analysis are used in this view. The values of Competitiveness Index and of Inclusive Development Index delivered by the 2018 World Economic Forum reports are considered. Economic competitiveness and inclusive development are positively associated in our sample of 101 economies and the correlation is stronger in the emerging countries as in the group of advanced economies. Among the advanced economies the mean scores of GCI and IDI are higher than in the group of emerging countries showing a better coordination of economic and institutional factors driving competitivity as well as inclusiveness. Countries belonging to a geographical region/continent/economic group are not grouped in the same cluster, emphasizing disparities among countries at regional/continental/economic group level. In the group of emerging economies, the disparities regarding competitivity and inclusiveness are lower than those among the advanced economies, the clusters are closer to one another and they are more homogeneous. Greater competitivity and economic performance can generate socioeconomic inequity that should be corrected through appropriate economic and social policy measures aimed to lead to wider distrbution of income and social inclusiveness.

Open access

Talknice Saungweme and Nicholas M. Odhiambo

Abstract

This paper provides a conceptual analysis of government debt servicing in Zimbabwe from 1980 to 2015. The mounting debt burden arising largely from nonconcessionary foreign loans since the 1980s, and the economic hardships that characterise the country beginning the late 1990s, caused dreadful public debt servicing challenges. Thus, the paper discusses the public debt service reforms and policies; trends; and problems in Zimbabwe over the review period. In the paper, it was identified that between 1983 and 1997, the government’s debt servicing costs were growing exponentially, resulting in liquidity challenges. However, between 1998 and 2015, the country had plunged into public debt service overhang, with public debt servicing liabilities exceeding the country’s foreign exchange earnings. Notwithstanding the various public debt servicing reforms to boost domestic revenues, Zimbabwe, as many other developing countries, still faces a number of debt servicing problems. Among others, these include: high government debt, low industrial and export competitiveness, narrow revenue base and subdued investor confidence. The paper recommends the government of Zimbabwe to undertake the following measures, among others, aimed at either boosting or expanding the revenue base: (i) improving tax enforcements; (ii) mobilising the informal sector; and (iii) expanding the productive capacity of public entities.