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Lekë Pula and Alban Elshani

Abstract

The aim of the study is to examine the impact of public expenditure on economic growth of Kosovo. Time series data span for the period of time 2002-2015. The structure of the econometric model is built on Keynesian theories and endogenous growth model. The model estimation is performed only after implementing the Augmented Dickey-Fuller (ADF) Unit Root test to estimate if time series are stationary. Several tests have been implemented to determine model validity. The model has met all the assumptions of statistical tests: error term residuals have a normal distribution (Jarque-Bera test), there is no auto-correlation between variables (Breusch-Godfrey Serial test), and error variances are constant, known as the principle of homoscedasticity (Breusch-Pagan-Godfrey test). Gross domestic product is used as a dependent variable in the model, while public expenditure (G), foreign direct investment (FDI), export (EXP) and total budget revenue (TrTax) are used as the endogenous variables. The study results have revealed that there is a positive and statistically significant effect of public expenditures and exports on economic growth. Total budget revenue has a positive impact on economic growth but this has not been proved to be statistically significant. The authors of the research have also found out that FDI is negative and statistically insignificant.

Open access

Vlora Prenaj and Hysen Ismajli

Abstract

The aim of the present study is to review the definitions of the enterprises in the European Union, Western Balkans and Kosovo. The study also proposes the classification and comparison of small, medium-sized and large enterprises in the European Union, Western Balkan countries, such as Albania, Montenegro, Macedonia, Croatia, Bosnia and Herzegovina, Serbia, and in Kosovo. The study has been performed using the legal, economic, comparative and practice methodology. The results of the study suggest that states should have control over the categorization of enterprises, so the enterprises with higher economic power cannot have the opportunity to hurt those with lesser economic power, all based on the regulation law and its implementation in practice.

Open access

Iveta Puķīte, Ineta Geipele and Armands Puķītis

Abstract

The scientific publication aims to identify risks in the maintenance of the rental housing stock. Access to housing is an essential precondition for the development and integration of the personality of each individual into society. Despite the rapid development of the state in certain sectors of the economy, the issue of inadequate accessibility and quality of housing for low-income groups of the population is becoming more and more acute. Therefore, one of the state policies is to create an adequate and rational space for all categories of Latvia’s population. The aim of the article is to identify and evaluate the risks of management of rental houses owned by the municipality, their impact on efficient and high-quality maintenance and high-quality maintenance of the housing stock.

Open access

Intra Lūce

Abstract

The article deals with the concept of quality and compliance in the context of the short-cycle professional higher education (SCHE) program in the field of real estate management. The article highlights the role of graduates and employers in assessing the quality and compliance and surveys of students as well. The surveys of students, graduates and employers and the analysis of legislation allow assessing the quality and compliance of SCHE study program in real estate management. Currently, in Latvia, the qualification of a house manager can be obtained at three accredited higher education institutions, studying in a short-cycle professional higher education program, which, in accordance with European Qualifications Framework (EQF), is the first-level professional higher education program. The article will mainly focus on the quality and compliance of the house managers’ professional qualification acquisition in short-cycle higher education programs in Latvia. Data analysis, synthesis and logical construction methods have been used in this article.

Open access

Armands Auziņš and Jānis Viesturs

Abstract

The creation of positive synergy in managing land-related resources if exploring the territorial capabilities, threats and opportunities, e.g. the effects of urban expansion, multi-functionality of land use, internalisation of negative externalities and challenges of a city agglomeration, causes primary necessity for the modern society. The study is concerned with the conceptual background and feasibility aspects of values-led planning (VLP) approach to be introduced into land management practice by capitalising first of all on comparative analysis of dynamic spatial planning systems and planning cultures. Finally, it is argued that the implementation of new planning approach within proposed framework would lead towards improved land use policies and better territorial governance, developing more inclusive and resilient territories for the benefit of a society.

Open access

Natalya Bibik and Natalia Dril

Abstract

The construction industry is one of the main components of the national economy of Ukraine as well as many countries worldwide. The volume and level of construction, especially housing, considerably influence further development of all other sectors of economy, and guarantee continuous growth of economic potential and national income. The aim of the research is to analyze the trends of construction development, its historical background and current situation in Ukraine. Literature analysis methods, statistical data processing, historical and logical access methods have been used in the research. The article provides historical overview of housing construction development in Ukraine, current challenges in the industry and solutions to solve them.

Open access

Tatjana Štaube and Ineta Geipele

Abstract

The paper includes results of economic calculation until 2020 regarding adaptations of the algorithm model of forecasting supply of spatial economic objects for planning the development of the Latvian high-end industrial market space. Scientific discussion concerns the average temperature increase as a determinant ratio and the definition of spatial economics developed by the authors The research focuses on the changes in climatic conditions, which may have an impact on the country’s economic development priorities. The paper also reflects on assessment of regional specialization of the leading entrepreneurial activities in Latvia and the Baltic States. It is mainly based on the empirical study of scientific literature. The authors apply the following methods: decision-making, analysis of primary and secondary sources, the Gini coefficient of Regional Specialization, the Gini coefficient of Geographical Concentration, logical approach and comparisons, systems and dynamic factor analysis, expert analysis, mathematical statistical methods. Main conclusions state that Latvia would continue regional development, maintain division of industrial capacities and decrease of Riga’s industrial agglomeration. Agriculture will develop intensively. Increase in high-class industrial property stock is partly conditioned by the high-quality manufacturing needs, as well as logistics and service needs. The calculated level of that stock is 772,300 sq.m until 2020. In fact, Latvia demonstrates low regional specialization rates for agriculture and manufacturing. The authors stress importance of development of the appropriate infrastructure in creating competitive local business environment in the Latvian cities.

Open access

Shumank Deep, Mohd Asim and Mohd Kashif Khan

Abstract

Practically speaking, not all real estate construction projects are accomplished in the defined span and within budget. Various factors responsible for occurrence of delays are one of the long-standing issues in the field of real estate. Delays make contractors endure productivity loss, cause high disturbance expenses, and prolongation costs. The aim of the research is to summarize several delay causing factors, which are observed in the execution of previous real estate construction projects. It then proposes implementation of standard prevention procedures to minimize delays. Time effect examination is the approach to evaluating and allotting the upshots of delays or changing a venture schedule. This review sets execution framework of the two sub-principles of the Toyota Way attributes known as philosophy sub-principles and process subprinciples to guide real estate construction businesses in their lean change to delay free real estate construction work. These are implemented after investigating the critical factors responsible for delays in the delayed projects by comparing their as-planned schedules with the adjusted schedules. Methods used in the research include structured surveys and content analysis, which is performed after collection of quantitative data from the respondents. The lean construction principles will be designed and provided to clients to be productive in performing work packages on their scheduled time with minimum possibility of time overrun.

Open access

Armands Puķītis, Iveta Puķīte and Ineta Geipele

Abstract

The present scientific article is the first part of two publications, where the authors obtain results from the scientific research for municipal residential property legal aspects and housing policy, as well as risks in the maintenance of the housing stock. To ensure the fulfillment of the functions prescribed by law in relation to the provision of living space, each municipality owns a number of rental apartments. Some municipalities even build special dwellings aimed to fulfil this function. Housing management involves the implementation of a specific process prescribed by both the law and the principles of good governance. However, all management processes are subject to risks that can endanger the implementation of the entire management process. To ensure efficient and high-quality maintenance of the management process, risk assessment is required. In order to successfully implement all these activities, first of all, there is a need for a legal framework that will stipulate the obligations, responsibilities, rights of the persons involved, as well as a series of measures that determine the actions to be taken to ensure the successful maintenance of the housing stock. The aim of the article is to investigate and analyse the regulation of the rent of the legal relations of the municipal property that is used as rental apartments, the management processes of municipal residential property and their compliance with regulatory enactments, as well as to define risks that prevent the efficient and high-quality maintenance of the housing stock.

Open access