Search results for: economic crises in Europe

Authors: Eva Kotlánová

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After recession that began in 2007 in the United States and subsequently spilled over the Europe we could expect recovery of economic growth. According to the last estimation of economic progress of European countries, this recovery is not strong enough. Among others, it will depend on economic policy, where and in which way, the economic indicators will proceed. Economic theories postulate that the economic subjects prefer stably, continual economic policy without repeated and strong fluctuations. This policy is perceived as support of economic growth. Mostly in crises period, when the government must cope with consequences of recession, the economic policy becomes unpredictable for many subjects and economic policy uncertainty grows, which have negative influence on economic growth. The aim of this paper is to use panel regression to prove or disprove this hypothesis on the example of five largest European economies in the period 2008–2012.

Keywords: economic crises in Europe, economic policy, uncertainty, panel analysis regression

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Authors: Ana Luísa Mouro

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When the financial crisis exploded in 2008 in the United States, unleashed by the collapse of Lehman Brothers, and contaminated the economies of the European periphery, Germany appeared as the anchor of the stability of all European institutions and countries in difficulty. The solutions provided by the German government have triggered a deep political debate about the key position Germany has conquered at the heart of Europe - a new “German question” has been created. Some say Germany has achieved by peaceful means what was not able to get through military conquest - the domination of Europe – and many fear Germany’s economic power. This debate about the new role of Germany in Europe has received special attention in the European media and Portugal has not been the exception. The present study has been based on the survey, selection and critical analysis of news reporting, opinion articles, interviews and editorials, published in the weekly Expresso and in the daily Público, between 2008 and 2015 (year of the 25th anniversary of Germany’s unification). The findings of this study will show the paradox of German power and its relevance for Europe’s future.

Keywords: Euro crises, German Europe, intercultural hermeneutics, Portuguese quality press

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Authors: Sevilay Konya, Sadife Güngör, Zeynep Karaçor

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Turkish economy is occurred depending on different factors from time to time and the banking crises of different magnitudes. Foremost among the factors which hinder the development of countries and societies- crises in the country's economy. Countries' economic growth rates affect inflation, unemployment and external trade. In this study, effect of November 2000, February 2001 and 2008 banking crisis on Turkey's economy and banking crisis will be examined and announced as conceptual. In this context, this study is investigates Turkey's GDP, inflation, unemployment and foreign trade figures. Turkey's economy affected have been identified from 2000 November 2001 February and 2008 banking crisis.

Keywords: banking crises, Turkey’s economy, economic effects, Turkey

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Authors: Gokhan Erkal, Gulsen Aydin, Muge Yuce, Lokman Sahin

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This study aims to analyze the impacts of involving in mediation of conflicts in the Middle East from the perspective of the economic growth of the mediators. The Middle East is a highly volatile region of the world with rampant crises whose affects spill beyond its borders. Therefore, management and resolution of the conflicts in the region are of great significance. Mediation is an instrument used for abating violence and settling dispute. The recourse to mediation has grown to an important degree in recent years. However, for mediators, it is a daunting task to involve in the mediation of the deadlocks in the Middle East. This study tries to shed light on the positive correlation between economic growth of the mediator and the successful outcome of the mediation process to provide motivation for mediators. To this end, first, it briefly introduces the conflicts ongoing in the region and their negative impacts. Second, the methodology, time series analysis, and the data to be used, International Crisis Behavior Project Data, are presented. Third, the empirical test is carried out and the findings are evaluated. The conclusion highlights the benefits of successful mediation for the economic growth of the mediators of Middle Eastern crises.

Keywords: international crises, mediation, Middle East, times series analysis

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Authors: Sofía Luna, Carla González Salamanca

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The 2008 economic crisis had huge implications in Europe. In this continent, the repercussions of the crisis were not only economic but also political and institutional. The economic stress has generated changes in the perception of the citizens, their attitude and the confidence placed in the political organizations. The lost of confidence is not only present in the debtor countries but it is also present in the European economic powers like Germany and France. This research explains how the economic crisis had an impact in the identity, population’s attitude and how this generated the rise of extreme right parties. In addition, it defines the different types of attitudes and support that exist towards these political and economic institutions. The results of this investigation show that the depression beside of its economic implications, it caused institutional, social and political difficulties for the Union. Moreover, the support and attitudes of the population were severely strained because the confidence in the political organization decreased. Furthermore, a rise in the otherness sentiment was shown. In other words, the distinction between “us” and “them” increased causing repercussions in the collective European identity. Additionally, there was a spread in national identities that caused the rise of the extreme right wing parties. In conclusion, the 2008 economic crisis caused not only economic stress but also it generated a political, social and institutional crisis in Europe.

Keywords: Europe, identity, economic crisis, otherness sentiment

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Authors: A. B. Benshak, M. G. Yilkangnha, V. Y. Nanle

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Social crises and violent conflict can inflict direct (short-term) impact on the environment like poisoning water bodies, climate change, deforestation, destroying the chemical component of the soil due to the chemical and biological weapons used. It can also impact the environment indirectly (long-term), e.g., the destruction of political and economic infrastructure to manage the environmental resources and breaking down traditional conservation practices, population displacement and refugee flows which puts pressure on the already inadequate resources, infrastructure, facilities, amenities, services etc. This study therefore examines the impact of social crises on the environment in Jos Plateau State with emphasis on the long-term impact, analyze the relationship between crises and the environment and assess the perception of people on social crises because much work have concentrated on other repercussions such as the economy, health etc that are more politically expedient. The data for this research were collected mostly through interviews, questionnaire, dailies and reports on the subject matter. The data and findings were presented in tables and results showed that the environment is directly and indirectly impacted by crises and that these impacts can in turn result to a continuous cycle of violent activities if not addressed because of the inadequacies in the supply of infrastructural facilities, resources and so on caused by the inflow of displaced population. Recommendations were made on providing security to minimize conflict occurrences in Jos and its environs, minimizing the impact of social crises on the environment, provision of adequate infrastructural facilities to carter for population rise, renewal and regeneration schemes, etc. which will go a long way in mitigating the impact of crises on the environment.

Keywords: environment, impact, long-term, social crises

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Authors: Nousheen Tariq Bhutta, Syed Zulfiqar Ali Shah

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Financial crises become a key impediment towards the development of countries especially in emerging economies. Based on standard finance, many researchers investigated the financial crises in different countries in order to find the underlying reason regarding occurrence these event; however they were unable to provide it. In this essence behavioral finance may be helpful in providing answers to some queries regarding occurrence and prevention of financial crises. In this paper, we explore the some psychological factors comprises of our inspiration, emotion, cognition and culture along with their reflection companies, financial markets and governments that present some supportive arguments. Moreover, we compared the views of Keynes and Minsky in order to validate the underling justification towards occurrence of financial crises and their prevention in future. This study helps the practitioners and policy makers through providing valuable recommendation in order to protect the economies.

Keywords: financial crises, behavioral finance, financial markets, emerging economies

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Authors: Marine Kobalava

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The article analyzes current global crises in the world, explains the causes of crises, substantiates that in the main cases the process accompanying the crisis are conflict situations. The paper argues that crises can become predictable if threats are identified and addressed by a company, organization, corporation, and others. Accordingly, mechanisms for the neutralization of conflict potential are proposed, the need to develop a communication strategy and create and redistribute information flows is justified. Conflict situations are assessed according to the types of crisis and it is considered that the conflict can become a prerequisite for the crisis. The paper substantiates the need to differentiate theories of crises and conflicts. Based on the evaluative judgment, conflict management measures are proposed taking into account institutionalization, conflict resolution norms and rules. The paper identifies the potential for conflicts created in the context of global crises and suggests local ways and mechanisms for their effective management. The involvement of the company's Public relations (PR) and relevant communication from the qualified staff is considered important. Conclusions are drawn on the problems of effective conflict management caused by global crises and recommendations for conflict resolution have been proposed.

Keywords: global crises, conflict situations, conflict identification, conflict management, conflict potential

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Authors: Jeremy Goldsmith

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The Gambia, the smallest country in mainland Africa and one of the poorest countries on Earth, is currently experiencing historically unprecedented levels of out-migration to Europe. As a result, Gambians are currently among the top four nationalities emigrating to Europe. The central question that this thesis will address is: what factors impact the migration-related decision-making capabilities of Gambians? Based on interviews with NGOs, as well as those who have migrated and returned, are planning to migrate, and their friends and families, a pattern will emerge. This pattern will be woven into first person narratives which will explore the politico-economic, environmental, and socio-cultural factors that inform individual decision-making with regards to migration.

Keywords: migration, The Gambia, Africa, politico-economic, sociocultural, environmental

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Authors: Laura Josabeth Oros-Avilés, Josefina León-León

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In recent decades, the concern of the monetary authorities has increased because of the instability of the financial sector caused by the crash of speculative bubbles. In fact, the crash of "housing bubble" in U.S. (2007-2008) led the latest global crisis. The aim of paper is to analyze the features and causes of the financial and banking crisis from an historical view. In particular, in this research, a comparative study of some analytical approaches about economic and financial history is discussed. In addition, the role of monetary policy of central banks in managing financial crises, from its origins to today, is analyzed. According to the studied approaches, two types of factors that cause the financial instability were identified: subjective and objectives. In the research, these factors are deeply discussed, in order to noting the agreements and disagreement between the authors. Specially, it is worth noting that all of them recognized that the credit boom and the financial deregulation are the main causes of financial crises.

Keywords: asset prices, banking crises, financial bubble, financial instability, monetary policy

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Authors: Shosh Shahrabani, Sharon Teitler-Regev, Helena Desivilya Syna, Fotini Voulgaris, Evangelos Tsoukatos, Vitor Ambrosio, Sandra M. Correia Loureiro

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International crises that affect tourism, such as terror attacks, political unrest, and economic crises have become more frequent, and their influence has become broader. The influence of such extreme events depends on their salience in the tourists' awareness. Hence, it is important to understand the mechanisms underlying tourists' selection of travel destinations, especially their perceptions of crisis-related events and the impact of the sociopolitical and economic context in their countries of origin. The current study examined how the socio-political and economic context in the home countries of potential young tourists affected their selection of travel destinations. The objective was to elucidate how the salience of various crises (economic and political) in the tourists' perceptions, due to their experiences at home, color their construal of destinations affected by similar hazards and influence their travel intentions. The study focused on student tourists from Israel, Greece, and Portugal. Today about a fifth of international tourism is based on young people, especially students. These countries were chosen since Greece and Portugal are in the midst of economic crises. In addition, Greece and Portugal have experienced political instability, while Israel has security-related problems (including terrorist incidents). In 2013, a total of 648 students, responded to a questionnaire that included questions concerning attitudes and risk perceptions regarding travel to destinations with various risk hazards as well as socio-demographic details. The results indicate that over half of the Israelis intend to visit Greece or Portugal. The majority of the Portuguese intend to visit Greece, while less than a third of them intend to visit Israel. About half of the Greeks intend to visit Portugal, and most of them do not intend to visit Israel. The results indicate that greater perceived importance of economic crises mitigates the intention to travel to destinations with economic crises for tourists from origin countries that are also marked by economic crises, such as Greece and Portugal. However, for tourists from Israel, a country with a relatively stable economy, issues related to the economy barely affect their intention to travel to the other two countries. The findings also suggest that Greeks and Portuguese who are highly concerned about political unrest are unlikely to select Israel as a tourist destination. In addition, strong apprehension regarding terrorism impedes the intention to travel to destinations marked by terrorist incidents, such as Israel. The current research contributes to the existing literature by highlighting the impact of travelers' personal previous experience with crisis on their risk perceptions and in turn on their intentions to travel to countries with similar risks. Therefore, in a world where such incidents are on the rise, understanding tourists' risk perceptions and behavior and the factors influencing their destination-related decisions are crucial for countries that wish to increase the numbers of incoming tourists.

Keywords: economic crises, political instability, risk perception, young tourists

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Authors: Soumia Hebbri

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The relationship between Britain and the European Union is phenomenally complex with a great opposition to Europe in the British Conservative and Labour Parties emerged since 1945. During the history and development of the European Union, Europe saw a lack of British involvement until 1961, after refusing to sign the Treaties of Rome of 1957 for being a member of the European Economic Community. Britain then applied to join the EEC in 1961 under Harold Macmillan’s Conservative Government, its application led by the Chief Negotiator Edward Heath. This application was vetoed by President de Gaulle. With de Gaulle out of power Britain. finally could joined in 1973. But again Labour and conservative both found themselves divided on the issue and they hold a referendum under labour on whether to continue the UK’s membership.

Keywords: the European Union, the British, economic community, de Gaulle

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Authors: Lavan Vickneson

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In today’s modern economy, the conventional banking model is the primary banking system used around the world. A significant problem faced by the conventional banking model is the recurring nature of banking crises. History’s record of the various banking crises, ranging from the Great Depression to the 2008 subprime mortgage crisis, is testament to the fact that banking crises continue to strike despite the preventive measures in place, such as bank’s minimum capital requirements and deposit guarantee schemes. If banking crises continue to occur despite these preventive measures, it necessarily follows that there are inherent flaws with the conventional banking model itself. In light of this, a possible alternative banking model to the conventional banking model is Islamic banking. To date, Islamic banking has been a niche market, predominantly serving Muslim investors. This paper seeks to explore the possibility of Islamic banking being more than just a niche market and playing a greater role in banking sectors around the world, by being a viable alternative to the conventional banking model.

Keywords: bank crises, conventional banking model, Islamic banking, niche market

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Authors: Ali Asghar Sotoudeh

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Mediation Diplomacy has emerged as one of the main pillars of China's foreign policy goals and practices, and Beijing has established itself as a peacekeeping force in regional conflicts and crises such as Afghanistan, Syria, Sudan, Yemen, and the Arab-Israeli peace process. China is deepening and intensifying its diplomatic interventions in the Middle East and trying to shape the security and political developments in the Middle East. On the other hand, economically, China has become one of the most important trading partners with Middle Eastern governments. China is also seeking to expand its foreign policy and economic interests in the Middle East through the New Silk Road initiative and has signed cooperation agreements with 17 Arab countries. In this regard, due to the importance of the subject, this research focuses on answering this question; what is the basis of China's political mediation and economic expansionism in the Middle East? In parallel with this question, this study follows the hypothesis that the mediating role of peace is a legitimate way for China to intervene in Middle East political crises, Without causing China to deviate from its traditional guiding principles based on non-interference in the internal affairs of other actors in the international system. This policy also promotes the security of economic interests and increases the country's political influence in the Middle East. The research method is descriptive-analytical based on the qualitative method, and the data collection method is library and internet resources.

Keywords: China, middle east, political mediation, economic expansionism

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Authors: Wenjuan Lu

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China and Hungary have risen from a friendly and comprehensive cooperative relationship to a comprehensive strategic partnership in recent years, and the economic and trade relations between the two countries have developed smoothly. As an important country along the ‘Belt and Road’, Hungary and China have strong economic complementarities and have unique advantages in carrying China's industrial transfer and economic transformation and development. The construction of the China-Hungary Economic and Trade Cooperation Zone, which was initiated by the ‘Sino-Hungarian Borsod Industrial Zone’ and the ‘Hungarian Central European Trade and Logistics Cooperation Park’ has promoted infrastructure construction, optimized production capacity, promoted industrial restructuring, and formed brand and agglomeration effects. Enhancing the influence of Chinese companies in the European market has also promoted economic development in Hungary and even in Central and Eastern Europe. However, as the China-Hungary Economic and Trade Cooperation Zone is still in its infancy, there are still shortcomings such as small scale, single function, and no prominent platform. In the future, based on the needs of China's cooperation with ‘17+1’ and China-Hungary cooperation, on the basis of appropriately expanding the scale of economic and trade cooperation zones and appropriately increasing the number of economic and trade cooperation zones, it is better to focus on optimizing and adjusting its functions and highlighting different economic and trade cooperation. The differentiated function of the trade zones strengthens the multi-faceted cooperation of economic and trade cooperation zones and highlights its role as a platform for cooperation in information, capital, and services.

Keywords: ‘One Belt, One Road’ Initiative, China-Hungary economic and trade cooperation zone, function optimization, Central and Eastern Europe

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Authors: Santiago Martínez Hernández

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The establishment of the European Union signified the culmination of the supra-national power addressing economic, political, legal and humanitarian matters within and above a national territory. Human rights have taken a protagonist role as one of the pressing concerns that the EU addresses, and one of the most critical problems is that of human trafficking. This multi-billion dollar criminal business represents $31.6 per year made out of 2.5 million trafficked persons worldwide, making it one of the most crucial human rights problems in the world to address. The EU has developed strategies to tackle this issue through supra-national governance, however, how have they fared? What is the impact of its development on the issue? This paper will address the direct and indirect impact of the formation of the European Union as a supranational political and economic entity on the illicit industry of human trafficking in Europe. It attempts to analyse first, the situation of human trafficking in Europe, as an attempt to understand its importance in the region, addressing its root causes and the role of the states addressed. Second, the paper will examine the impact of the EU on human breaking down its policy-making at a supranational level, the role of the economic integration of the region, and the change of migration patterns since its inception.

Keywords: human trafficking, human rights, European union, criminal business

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Authors: Ahmet Sekreter

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Although there are conceptual similarities in terms of financial products between conventional and Islamic finance, they are entirely different financial systems. Despite Islamic finance’s small size in the conventional finance world, its promising growth makes Islamic finance a hot topic both in academia and business world. Today customers can access sophisticated Islamic financial products not only in Muslim countries but also in Europe. This study analyzes Islamic finance and its products and includes a brief overview of Islamic finance in Europe. Literature review is the basis of this paper. The author analyzed the academic papers, numerical data, and estimations to set a perspective for the future of Islamic finance in Europe. Findings show that UK is the main hub for the Islamic finance, and it will remain so in the near future.

Keywords: islamic finance, islamic banking, islamic finance in Europe, finance

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Authors: M. Tahir Demirsel, Mustafa Atsan

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Many elements of the environment in which businesses operate today leave them faced with unexpected threats and opportunities. One of the major threats is business crisis. The crisis is a state of affairs in a business wherein the executives must take urgent and unprecedented action to try to save the business from failure. In order to survive in the business environment, organizations should be prepared for the potential crises. Technological developments, uncertainty in the market and the intense competition increase the probability of encountering a crisis for organizations. Therefore, by acting proactively to predict crisis, to detect signals of crisis and be prepared for a crisis by taking necessary precautions accordingly, is of great importance for businesses. In this context, the objective of this study is to reveal that how much organizations are proactive and can predict the future crises and investigate whether they are prepared for possible crises or not. The research was conducted on 222 business executives in one of the major industrial zones of Turkey, Konya Organized Industrial Zone (KOS). The findings are analyzed through descriptive statistics and multiple regression analysis. According to the results, it has been observed that organizations cannot predict the crisis signals and are not prepared for potential crises.

Keywords: crisis preparedness, crisis signals, industrial organizations, proactivity

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Authors: Svetlana Pushkar

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The Leadership in Energy and Environmental Design (LEED) green building rating system is recognized in Europe. LEED uses regional priority (RP) points that are adapted to different environmental conditions. However, the appropriateness of the RP points is still a controversial question. To clarify this issue, two different parts of Europe: northern Europe (Finland and Sweden) and southern Europe (Turkey and Spain) were considered. Similarities and differences in the performances of LEED 2009-new construction (LEED-NC 2009) in these four countries were analyzed. It was found that LEED-NC 2009 performances in northern and southern parts of Europe in terms of Sustainable Sites (SS), Water Efficiency (WE), Materials and Resources (MR), and Indoor Environmental Quality (EQ) were similar, whereas in Energy and Atmosphere (EA), their performances were different. WE and SS revealed high performances (70-100%); EA and EQ demonstrated intermediate performance (40-60%); and MR displayed low performance (20-40%). It should be recommended introducing the following new RP points: for Turkey - water-related points and for all four observed countries - green power-related points for improving the LEED adaptation in Europe.

Keywords: green building, Europe, LEED, leadership in energy and environmental design, regional priority points

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Authors: Jordan Georgiev Deliversky

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Human trafficking and smuggling of migrants are criminal activities, which are on the rise over recent years. The number of legal migrants arrived in Europe from outside the European Union are far less than those who want to come and settle in Europe. The objective of this paper is to present the impact on economic and social life of significant measures influencing the smuggling of migrants. The analysis is focused on various complex factors which have multiple origins and are highly influential as regard to the process of migration and the smuggling of migrants. The smuggling of migrants is a criminal activity, directly related to migration. The main results show that often the routes chosen for smuggling of migrants are circuitous, as smugglers carefully avoid strictly controlled roads, checkpoints, and countries or jurisdictions where there is efficiency of justice, with particular emphasis on the law on trafficking of persons and smuggling of migrants.

Keywords: corruption, migration, security, smuggling

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Authors: Klaudia Gołębiowska

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This article analyzes the actions of Poland's ruling party facing two refugee crises. These crises emerged almost one after the other within a few months. The first concerned irregular migrants from various countries, including the Middle East, seeking to cross the Polish border from the territory of Belarus. The second was caused by Russia's full-scale invasion of Ukraine. I aim to show the evolution of the discourse and law towards immigrants and refugees by the party Prawo i Sprawiedliwość (PiS, ang. Law and Justice), which has been in power in Poland since 2015. The authorities, in power since 2015, have radically changed its anti-immigrant discourse towards the exodus of civilians from Ukraine. Research questions are the following: What were the roots of the refugee crises in Poland in 2021 and 2022? What legal or illegal measures were taken in Poland to deal with the refugee crises? The methods of qualitative source analysis and process tracing. From the first days of the war in Ukraine, not only was aid organised for Ukrainians, but they were also given access to public services and education. All refugees were granted temporary international protection. At the same time, the basic physiological needs of those on the Polish-Belarusian border were ignored. Moreover, illegal pushbacks were used against those coming mainly from the Middle East, pushing them into the territory of Belarus, where they were often subjected to torture and inhumane treatment. The Polish government justified such treatment on the grounds that these people were part of a 'hybrid war' waged by Russia and Belarus using migrants. Only Ukrainians were treated as 'real' refugees in the analyzed crises at the Polish borders.

Keywords: refugee, irregular migrants, hybrid war, migrants

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Maruf Ariyo Raheem, Patrick Oseloka Ezepue

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This research aimed at determining most appropriate heteroskedastic model to predicting volatility of 10 major Nigerian banks: Access, United Bank for Africa (UBA), Guaranty Trust, Skye, Diamond, Fidelity, Sterling, Union, ETI and Zenith banks using daily closing stock prices of each of the banks from 2004 to 2014. The models employed include ARCH (1), GARCH (1, 1), EGARCH (1, 1) and TARCH (1, 1). The results show that all the banks returns are highly leptokurtic, significantly skewed and thus non-normal across the four periods except for Fidelity bank during financial crises; findings similar to those of other global markets. There is also strong evidence for the presence of heteroscedasticity, and that volatility persistence during crisis is higher than before the crisis across the 10 banks, with that of UBA taking the lead, about 11 times higher during the crisis. Findings further revealed that Asymmetric GARCH models became dominant especially during financial crises and post crises when the second reforms were introduced into the banking industry by the Central Bank of Nigeria (CBN). Generally, one could say that Nigerian banks returns are volatility persistent during and after the crises, and characterised by leverage effects of negative and positive shocks during these periods

Keywords: global financial crisis, leverage effect, persistence, volatility clustering

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Authors: Mohammad Jamiu Abdullahi, Shykh Ahmed Abdussalam

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The emergence of Arabic on the shore of West Africa heralded the practise of Islam and advocation for a just and egalitarian society. Islam, it was argued, has been perverted and subverted by the Hausa leadership. This necessitated the call for reforming Islam. Al-Shaykh Usman Bin Fodio grabbed the opportunity and fought the perverts to restore the glory of Islam and establish shari'ah way of life. This was the practice, especially in the northern part of Nigeria until the incursion of colonialism. The conquest of the colonial master halted the rule of jihadi leaderships and subjected them to colonialism under which only some aspects of Islamic system considered potentially beneficial to the British interest were retained. The current socio-political and economic crises in Nigeria has necessitated the need to look inwardly to the bulk of works, in Arabic, left behind by the Muslim scholars to help to salvage the country from its present political crisis, economic paralysis and legal decadence. This paper, therefore, examines the relevance of Arabic literary works that housed political/legal theories to salvaging the country from its present political crises, economic paralysis and legal decadence.

Keywords: Arabic Fodio Nigeria security, advocacy governance scholar Usman, British colonial perspective shaykh, leadership Islam jihad politics

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Authors: Jiří Klečka, Dagmar Čámská

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This paper is focused on the investigation of productivity (total productivity and partial productivity). The value productivity is an indicator of level and changes in technical economic efficiency of production factors. It represents an important factor in achieving corporate objectives. This text works with the contemporary concept of value productivity that means that indicators of the productivity express the effect of economic efficiency not only of inputs consumption, but also of inputs binding efficiency. This approach is based on principles of the economic profit, respectively the economic value added (EVA). The research is done on the sample of Czech enterprises operating in the automotive industry in the regions of Liberec and the Central Bohemia. The data sample covers the time period 2006-2011 which allows the comparison of development before crisis and during crisis period. It enables to discover the companies' reaction during crises and the regional comparison allows to showing if there are significant differences between regions.

Keywords: automotive industry, Czech Republic, economic efficiency, regional comparison, value productivity

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Authors: S. K. Ashiquer Rahman

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The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method.

Keywords: IS-LM framework, pandemic. Economics variables shocks, simultaneous equations model, output growth

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Authors: Sade Ogundipe

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The private healthcare sector in the United Kingdom has experienced unprecedented challenges during times of crisis, necessitating effective leadership adaptability. This qualitative study delves into the dynamic landscape of leadership within the sector, particularly during crises, employing the lenses of complexity theory and institutional theory to unravel the intricate mechanisms at play. Through in-depth interviews with 25 various levels of leaders in the UK private healthcare sector, this research explores how leaders in UK private healthcare organizations navigate complex and often chaotic environments, shedding light on their adaptive strategies and decision-making processes during crises. Complexity theory is used to analyze the complicated, volatile nature of healthcare crises, emphasizing the need for adaptive leadership in such contexts. Institutional theory, on the other hand, provides insights into how external and internal institutional pressures influence leadership behavior. Findings from this study highlight the multifaceted nature of leadership adaptability, emphasizing the significance of leaders' abilities to embrace uncertainty, engage in sensemaking, and leverage the institutional environment to enact meaningful changes. Furthermore, this research sheds light on the challenges and opportunities that leaders face when adapting to crises within the UK private healthcare sector. The study's insights contribute to the growing body of literature on leadership in healthcare, offering practical implications for leaders, policymakers, and stakeholders within the UK private healthcare sector. By employing the dual perspectives of complexity theory and institutional theory, this research provides a holistic understanding of leadership adaptability in the face of crises, offering valuable guidance for enhancing the resilience and effectiveness of healthcare leadership within this vital sector.

Keywords: leadership, adaptability, decision-making, complexity, complexity theory, institutional theory, organizational complexity, complex adaptive system (CAS), crises, healthcare

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Authors: Ilias A. Makris

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In this work, we attempt to analyse the contribution of innovative activities to firm performance and growth. We examine economic data from some of the economies that were heavily affected by current economic crisis: the countries of southern Europe (Portugal, Italy, Greece, and Spain) and Ireland. Following literature, an appropriate econometric model is developed and several indicators are tested in order to disclose possible relation with innovative activity. Findings confirm the crucial effect of innovative process in economic activity, in firm and country level.

Keywords: Eurozone periphery, firm performance, innovative activity, R&D

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Authors: Edmar Jose da Rocha

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This paper is a study on Brazilian irregular migrants living and working in two global cities in Europe, Milan and London. The aim of the journal is to show out why Brazilian choose irregular migration to Milan and London as a strategy. Few studies in Europe have focused on groups coming from the same place of origin and residing in different cities in comparative studies. It is this international comparison that makes this research original. Both in London and Milan there is an economic migration. The reasons showed to migrate to Milan were marriage, citizenship and work. The reasons indicated to migrate to London were work, studies and a better life. In London marriage is a channel for regularisation and citizenship. In both countries, fake documents is a channel for undocumented people to get a job and health care.

Keywords: border, immigration, integration, survival strategies, undocumented, regularisation

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Authors: A. Hayrapetyan, A. Simon, P. Marques, G. Renart

Abstract:

Business survival is a question of greatest interest for any economy. Firm characteristics that can explain or predict performance and, ultimately, business survival become of the greatest significance, as the sustainable longevity of any business can mean health for the future of the country. Family Firms (FFs) are one of the most ubiquitous forms of business worldwide, as more than half of European firms (60%) are considered as family firms. Therefore, the inherent characteristics of FFs are one of the possible explanatory variables for firm survival because FFs have strategic goals that differentiate them from other types of businesses. Although there is literature on the performance of FFs across generations, there are fewer studies on the factors that impact the survival of family and non-family FFs, as there is a lack of data on failed firms. To address this gap, this paper explores the differential survival of family firms versus non-family firms with a representative sample of companies of the region of Catalonia (Northeast of Spain) that were adhoc classified as family or nonfamily firms, as well as classified as failed or surviving, since no census data for family firms or for failed firms is available in Spain. By using the COX regression model on a representative sample of 629 family and non-family firms, this study investigates to what extent financial ratios, such as Liquidity, Solvency Rate can impact business survival, taking into consideration the socioemotional side of family firms, as well as revealing the differences between family and non-family firms. The findings show that the liquidity rate is significant for non-family firm survival, whereas not for family firms. On the other hand, FFs can benefit while having a higher solvency rate. Ultimately, this paper discovers that FFs increase their chances of survival when they are small, as the growth in size starts negatively impacting the socioemotional objectives of the firm. This study proves the existence of significant differences between family and non-family firms’ survival during economic crises, suggesting that the prioritization of emotional wealth creates distinct conditions for both types of firms.

Keywords: COX regression, economy crises, family firm, non-family firm, survival

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