The impact of remittance inflows on economic development is contested in the existing literature. This article applies a panel auto regressive distributed lag to examine the impact of remittance ...inflows on economic growth and self-employment percentage in a panel of seven Southeast European countries between 1996 and 2020. The countries included in the panel are characterized by higher remittance inflows and include Albania, Bosnia and Hercegovina, Croatia, Kosovo, Montenegro, North Macedonia, and Serbia. The findings of the article indicate that there is no short-run relationship between remittance inflows and economic growth, but that remittance inflows are a significant contributor to economic growth in the long run. The article finds that in the short run, remittance inflows actually decrease the self-employment rate which can be attributed to the poverty alleviation impact of remittance flows, while there is no statistically significant relationship between remittance inflows and the self-employment rate in the long-run. This indicates that there are opportunities to utilize the significant remittance inflows in more meaningful ways to stimulate investment opportunities.
Reforma Vijeća sigurnosti Kokotović, Filip; Mikulandra, Iva
Međunarodne studije,
09/2015, Volume:
XV, Issue:
1
Journal Article
Open access
Izvršena je analiza reforme organizacije Ujedinjenih naroda, a posebice reforme Vijeća sigurnosti. Reforma Vijeća sigurnosti poistovjećuje se isključivo s njegovim proširenjem, pri čemu se ne ...razmatraju alternativne metode razvoja efikasnosti i funkcionalnosti. Analizama relevantnih rezolucija Ujedinjenih naroda, različitih interesnih skupina poput skupine G-4 te pokušajem shvaćanja procesa dosadašnjih promjena Povelje Ujedinjenih naroda postaje jasno kako nije potrebno samo jačanje transparentnosti i legitimnosti Vijeća sigurnosti njegovim proširenjem, nego je potrebna i dubinska reforma Ujedinjenih naroda koja uključuje redefiniranje uloge veta. Zaključak je ovoga rada kako ni jedna vrsta reforme nije moguća bez postojanja širokoga konsenzusa među državama članicama Ujedinjenih naroda koje bi oko toga ključnog pitanja tre-bale postupiti kao i 1963. godine, kad je u Općoj skupštini Ujedinjenih naroda izglasana najznačajnija rezolucija o potrebi reforme Vijeća sigurnosti.
One of the key aspects of Sustainable Development Goals is the difference in awareness of various societies regarding the need to protect the environment and transform economies and societies, so ...they rely more on renewable energy sources. As an initiative, it should represent a commitment that should be in focus of the international agreements, especially the Paris Climate Treaty. Whilst the Sustainable Development Goals as a totality comprise serious implementation limits, the Paris Climate Treaty should be considered necessary to implement the Sustainable Development Goal 13: Climate Action. Implementing the Sustainable Development Goals would perhaps allow a holistic framework in combating climate change. Nevertheless, for the immediate future, there should be no delays in implementing a certain form of international effort to combat climate change. Therefore, the role of the European Union's climate policy was studied in this article, mainly its effectiveness in the reduction of emissions, as a crucial aspect of implementing one of the crucial Sustainable Development Goals, Goal 13, especially in the context of the Paris Climate Treaty and carbon taxes. The EU sees its vital interest in the fulfilment of the Sustainable Development Goal 13, and in successful action that would enable it to comply with the Paris Climate Treaty. The quantitative analysis in this article, based on an Autoregressive Distributed Lags approach, finds that the most effective way of reducing carbon dioxide emissions in the European Union would be to continue the shift towards more dependency on renewable sources of energy sources while maintaining current or slightly higher levels of taxation on energy consumption. The revenue should be directed towards subsidizing research and development of renewable energy sources.
The British referendum result to opt for exiting the European Union (EU) has left both the United Kingdom (UK), as well as the rest of the EU with questions regarding the future of the integration ...and their future economic development. While the EU member-states present a united front in regards to the leave process, there are deeply rooted divisions on all other relevant policy questions. The issues of migration, foreign policy, and the level of cohesion within the EU itself represent the questions where there is little or no consensus. The paper concludes that both the UK and the EU need to address a deep political divide and find a way to coexist in the aftermath of Brexit.
This paper studies the relevance of political stability on foreign direct investment (FDI) and the relevance of FDI on economic growth, in three panels. The first panel contains 11 very small ...economies; the second contains five well-developed and politically stable economies with highly positive FDI net inflows, while the third is a panel with economies that are prone to political violence or targeted by the terrorist attacks. We employ a Granger causality test and implement a vector autoregressive (VAR) framework within the panel setting. In order to test the sensitivity of the results and avoid robust errors, we employ an ARDL model for each of the countries within every panel. Based upon our results, we conclude that there is a long-term relationship between political stability and FDI for the panel of small economies, while we find no empiric evidence of such a relationship for both panels of larger and more developed economies. Similarly to the original hypothesis of Lucas (1990), we find that FDI outflows tend to go towards politically less stable countries. On the other hand, the empiric methodology employed did not find such conclusive evidence in the panels of politically more developed countries or in the small economies that this paper observes.
Izvršena je analiza reforme organizacije Ujedinjenih naroda, a posebice refor-me Vijeća sigurnosti. Reforma Vijeća sigurnosti poistovjećuje se isključivo s njegovim proširenjem, pri čemu se ne ...razmatraju alternativne metode razvoja efikasnosti i funkcionalnosti. Analizama relevantnih rezolucija Ujedinjenih naroda, različitih interesnih skupina poput skupine G-4 te pokušajem shvaćanja procesa dosadašnjih promjena Povelje Ujedinjenih naroda postaje jasno kako nije potrebno samo jačanje transparentnosti i legitimnosti Vijeća sigurnosti njegovim proširenjem, nego je potrebna i dubinska reforma Ujedinjenih naroda koja uključuje redefiniranje uloge veta. Zaključak je ovoga rada kako ni jedna vrsta reforme nije moguća bez postojanja širokoga konsenzusa među državama članicama Ujedinjenih naroda koje bi oko toga ključnog pitanja tre-bale postupiti kao i 1963. godine, kad je u Općoj skupštini Ujedinjenih naroda izglasana najznačajnija rezolucija o potrebi reforme Vijeća sigurnosti.
The problem of the relevance of human and natural capital, as well as the potential adverse effect of natural capital on economic growth, has gained increased attention in development economics. The ...aim of this paper is to assess, theoretically and empirically, the relevance of several forms of capital on economic growth in certain small economies that are dependent upon tourism or natural resources. The empirical framework is based on Impulse Response Functions obtained from Vector Autoregressive models in which we focus on the model where economic growth is the dependent variable for ten small economies that are dependent upon either tourism or natural resources. We find that there is evidence of the 'natural resource curse', especially in the economies that have a strong dependence on resources that are easily substitutable and whose prices constantly fluctuate. We further find that in the majority of observed cases, the type of capital these small economies are most dependent on for their economic growth causes negative impulses in the majority of the observed periods. Therefore, the main policy recommendation should be to assure that even these small economies should strive towards further diversification and avoid dependence on only one segment of their economy.
For the most of its history, the US public debt has neither been a factor that, aside from rare crisis periods, acted as a factor of significant worry, nor was it a topic present in relevant policy ...debates. A key element often overlooked in the debate regarding the long-term sustainability of the public debt of developed economies is the legal framework that should prevent macroeconomic imbalances. The aim of this paper is to assess, through theoretical argumentation, the historical significance of the public debt in the USA. The paper concludes that the USA requires a more coherent and precise legal framework that will ensure the long-term stability of the American economy.
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