Jelena Zvezdanović Lobanova, Davorin Kračun and Alenka Kavkler
This paper deals with the economic effect of cross-border mergers and acquisitions on GDP per capita in European transition countries for the 2000- 2014 period. Our analysis shows that cross-border mergers and acquisitions have a negative effect on GDP per capita in the current period, whereas their lagged level positively impacts output performance. We found that transition countries characterized by a higher quality of institutional setting have achieved a positive impact on GDP per capita.
(NSO, 2013; Jones and McGavin, 2015 ). There are large skill shortages in a variety of trades, such as carpentry, hospitality, retail, and office administration ( Imbun, 2015 ). In addition, the cost of labor is quite high as the minimum wage was around 1.22 United States Dollars (USD) per hour in 2018, which is the same as countries with Gross Domestic Product (GDP) percapita four times that of PNG (such as Malaysia) ( Jones and McGavin, 2015 ).
Despite the large skill shortages, there are few opportunities for youth to enter the formal sector labor market in
leading economies from a long-term perspective, a deceleration in productivity growth can be detected, despite a short-lived acceleration during the 1990s ( Fig. 2 ). This is also reflected in similar developments of Gross Domestic Product (GDP) percapita (i.e., including the inactive population) that show a remarkable absence of accelerating improvements in living standards. This observation had already perplexed economists during the 1980s when Robert Solow famously stated that “you can see the computer age everywhere but in the productivity statistics” ( David, 1990
Olimpia Neagu, Doru Ioan Ardelean and Vasile Lazăr
India: Cointegration and Causality Analysis in an Open Economy. Renewable and Sustainable Energy Reviews, Vol 18, pp. 519–527.
39. UNDP. (2016). Human Development Report 2016. Human Development for Everyone . Washington DC, USA.
40. http://epi.yale.edu/reports/2016-report . Accessed 30 June 2017
41. http://data.worldbank.org/indicator/NY.GDP.PCAP.PP.KD?view=chart . Accessed 30.06.2017
., & López-Bazo, E. (2005). Breaking the panels: An application to the GDPpercapita. Econometrics Journal, 8 (2), 159–175. https://doi.org/10.1111/j.1368-423X.2005.00158.x
De Mello, L. R. (1999). Foreign direct investment-led growth: evidence from time series and panel data. Oxford Economic Papers, 51 (1), 133-151. https://doi.org/10.1093/oep/51.1.133
Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29 (4), 1450-1460. http://dx.doi.org/10.1016/j.econmod.2012.02.014
Ksenija Dumičić, Ivana Skoko Bonić and Berislav Žmuk
Eurostat (2014). Information society statistics - households and individuals. Retrieved from http://ec.europa.eu/eurostat/statistics-explained/index.php/Information_society_statistics_-_households_and_individuals
Eurostat (2016a). GDPpercapita in PPS. Retrieved from http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tec00114
Eurostat (2016b). Households with broadband access. Retrieved from http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language
The paper analyses the link between globalisation and economic growth in Romania for a time span of 24 years. Data from World Bank were used in an econometrical model in order to highlight the impact of globalisation, expressed by the KOF globalisation index and its components (economic, social and political globalisation indices) on economic growth rate. A statistical strong and positive link is found between GDP per capita dynamics and overall globalisation index as well as between GDP growth rate and economic and political globalisation, except the social dimension of globalisation which has a negative impact on economic growth in Romania for the time span 1990-2013.
Entrepreneurship and Unemployment. Inzinerine Ekonomika- Engineering Economics , 4.
Totan, L. S., Popescu, B. B., Cristache, S. E. (2013). Impactul somajului asupra creşterii economice din România, în perioada de criză. Romanian Statistical Review , 6.
Zdražil, P., Appolova, P. (2016). Growth Disparities among Regions of the Visegrad Group Countries: An evidence of their Extent and Nature. E & M Ekonomie a Management , 19(2), 37–54.
Workie, T. M. (2004). Measuring Income percapita Disparities across Countries Using a Panel Data Approach. Ekonomický časopis
We analyze the influence of newly constructed globalization measures on regional growth for the EU-27 countries between 2001 and 2006. The spatial Chow-Lin procedure, a method constructed by the authors, was used to construct, on a NUTS-2 level, complete regional data for exports, imports and FDI inward stocks, which serve as indicators for the influence of globalization, integration and technology transfers on European regions. The results suggest that most regions have significantly benefited from globalization measured by increasing trade openness and FDI. In a non-linear growth convergence model, the growth elasticities for globalization and technology transfers decrease with increasing GDP per capita. Furthermore, the estimated elasticity for FDI decreases when the model includes a higher human capital premium for CEE countries and a small significant growth enhancing effect accrues from the structural funds expenditures in the EU.
The paper aims to examine taxation in the EU in correlation with regional development measures implemented. We started with the EU vision on regional development. If during the 2007-2013 period, were pursued three major objectives (convergence, regional competitiveness and territorial cooperation), in the current 2014-2020 funding period, money is allocated differently between countries that are deemed to be more developed, in transition and less developed. These categories are set according to GDP per capita. Next we exposed the fiscal changes made in the EU in 2010-2011 period and then we corelate them with the strategy for regional development for five member states: Romania, Bulgaria, Czech Republic , Hungary and Poland. We used data reported by Eurostat regarding the evolution of unemployment rate and for the foreign direct investments in 2007-2012 period. We also brought up and changes required by the new Romanian Fiscal Code. According to it, measures such as reduction of income tax for new micro enterprises or extending the VAT reverse charge mechanism in many sectors of activity, are meant to encourage foreign capital inflows and also to increase the level of regional development. As a general conclusion, we found that there is a direct link between fiscal policy and regional development; fiscal measures implemented influence the level of unemployment, economic growth, and competitiveness in the private sector.