Search results for: European funds.

Authors: Udeme O. Ini, Edikan E. Akpanibah

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This paper studies the optimal investment strategies for a plan member (PM) in a defined contribution (DC) pension scheme with transaction cost, taxes on invested funds and couple risky assets (stocks) under the Ornstein-Uhlenbeck (O-U) process. The PM’s portfolio is assumed to consist of a risk-free asset and two risky assets where the two risky assets are driven by the O-U process. The Legendre transformation and dual theory is use to transform the resultant optimal control problem which is a nonlinear partial differential equation (PDE) into linear PDE and the resultant linear PDE is then solved for the explicit solutions of the optimal investment strategies for PM exhibiting constant absolute risk aversion (CARA) using change of variable technique. Furthermore, theoretical analysis is used to study the influences of some sensitive parameters on the optimal investment strategies with observations that the optimal investment strategies for the two risky assets increase with increase in the dividend and decreases with increase in tax on the invested funds, risk averse coefficient, initial fund size and the transaction cost.

Keywords: Ornstein-Uhlenbeck process, portfolio management, Legendre transforms, CARA utility.

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Authors: Christos A. Ioannou, Panagiotis Panagiotopoulos, Lampros Stergioulas

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The new status generated by technological advancements and changes in the global economy raises important issues on how communities and organisations need to innovate upon their traditional processes in order to adapt to the challenges of the Knowledge Society. The DialogoS+ European project aims to study the role of and promote social dialogue in the banking sector, strengthen the link between old and new members and make social dialogue at the European level a force for innovation and change, also given the context of the international crisis emerging in 2008- 2009. Under the scope of DialogoS+, this paper describes how the community of Europe-s banking sector trade unions attempted to adapt to the challenges of the Knowledge Society by exploiting the benefits of new channels of communication, learning, knowledge generation and diffusion focusing on the concept of roadmapping. Important dimensions of social dialogue such as collective bargaining and working conditions are addressed.

Keywords: Banking sector, knowledge society, road mapping, social dialogue.

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Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu

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The IFRS for Small and Medium-sized Entities (SMEs) was issued in July 2009 and currently regulators are considering various implementation strategies of this standard. Romania is a member of the European Union since 2007, thus accounting regulations were issued in order to ensure compliance with the European Accounting Directives. As the European Commission rejected recently the mandatory use of IFRS for SMEs, regulatory bodies from the Member States have to decide if the standard will affect or not the accounting practices of SMEs from their countries. Recently IASB invited stakeholders to discuss the revision of IFRS for SMEs. Empirical studies on the differences and similarities between national standards and IFRS for SMEs could inform decision makers on the actual level of convergence in different countries. The purpose of this paper is to provide empirical evidences on the convergence of the Romanian regulations with IFRS for SMEs analyzing the results in the context of the last revisions proposed to the EU Accounting Directives.

Keywords: EU Accounting Directives, IFRS for SMEs, national regulations

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Authors: A. Bobirca, A. Draghici

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The objective of this paper is to construct a creativity composite index designed to capture the growing role of creativity in driving economic and social development for the 27 European Union countries. The paper proposes a new approach for the measurement of EU-27 creative potential and for determining its capacity to attract and develop creative human capital. We apply a modified version of the 3T model developed by Richard Florida and Irene Tinagli for constructing a Euro-Creativity Index. The resulting indexes establish a quantitative base for policy makers, supporting their efforts to determine the contribution of creativity to economic development.

Keywords: European Creativity Index, talent, technology, tolerance

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Authors: Agata Niewiadomska, Adam Niewiadomski

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This paper present lease agreement regulations in selected European countries. The lease agreement has a long history and now is one of the main ways to manage agricultural lands in Europe. The analysis of individual regulations, which has been done, indicates that this agreement is very important to build social relations in agriculture and society. This article provides an analysis of the legal regulations concerning the lease in France, Spain, Switzerland, Ukraine and Italy. Article is example of study of the legal regulations and can be used for legal changes in individual countries.

Keywords: Lease agreement, Agricultural law, History of lease agreement.

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Authors: Jiri F. Urbanek, Jiri Barta, Oldrich Svoboda, Jiri J. Urbanek

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The organizations of European and Czech critical infrastructure have specific position, mission, characteristics and behaviour in European Union and Czech state/business environments, regarding specific requirements for regional and global security environments. They must respect policy of national security and global rules, requirements and standards in all their inherent and outer processes of supply - customer chains and networks. A controlling is generalized capability to have control over situational policy. This paper aims and purposes are to introduce the controlling as quite new necessary process attribute providing for critical infrastructure is environment the capability and profit to achieve its commitment regarding to the effectiveness of the quality management system in meeting customer/ user requirements and also the continual improvement of critical infrastructure organization’s processes overall performance and efficiency, as well as its societal security via continual planning improvement via DYVELOP modelling.

Keywords: Added Value, DYVELOP, Controlling, Environments, Process Approach.

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Authors: Alina Murtishcheva

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The tendency of globalization, challenges to democracy and peace caused by the Russian invasion of Ukraine, and other global conflicts require searching general orientations of governmental development, including local government. The formation of a common theoretical framework for local government guarantees not only of harmonisation of European legislation but also creates prerequisites for the integration of new members into the European Union. One of the most important milestones of such a theoretical framework is the concept of decentralization. Decentralization as a phenomenon is characteristic of most European Union countries at different historical stages. For Ukraine, as a country that has clearly defined a European integration vector of development, understanding not only the legal but also the theoretical basis of decentralization processes in European countries is an important prerequisite for further reforms. Decentralization takes different forms, which leads to a variety of understandings in doctrine and, consequently, different interpretations in national legislation. Despite this, decentralization is based on common ideas and values such as democracy, participation, the rule of law, and proximity government that are shared by all EU member states. Nevertheless, not all EU countries are currently implementing broad decentralization in their political and legal practices. Some countries are gradually moving in this direction, while others remain quite centralised. There is also a new, insufficiently studied trend today – recentralisation, which can be broadly defined as the strengthening of centralization tendencies in countries that were considered to be decentralized. Consequently, an exploratory theoretical study is needed to identify how the concept of decentralization is combined with the recentralization tendency in EU member states. The purpose of this study is to empirically analyse scientific approaches to the concept of “decentralization”, to highlight the tendency of recentralisation and its consequences, to analyse Ukraine's experience in the field of decentralization of public power, and to outline the prospects for further development of Ukrainian legislation in this area.

Keywords: Centralization, decentralization, local government, recentralization, reforms.

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Authors: C. Recommandé, J.C. Blind, A. Clavel, R. Gourichon, V. Le Gal

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Simulations are developed in this paper with usual DSGE model equations. The model is based on simplified version of Smets-Wouters equations in use at European Central Bank which implies 10 macro-economic variables: consumption, investment, wages, inflation, capital stock, interest rates, production, capital accumulation, labour and credit rate, and allows take into consideration the banking system. Throughout the simulations, this model will be used to evaluate the impact of rate shocks recounting the actions of the European Central Bank during 2008.

Keywords: CC-LM, Central Bank, DSGE, Liquidity Shock, Non-standard Intervention.

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Authors: M. Adamczak-Retecka, O. Hołub-Śniadach

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Dangerous of climate change is now global problem and as such has a strategic priority also for the European Union. Europe and European citizens try to do their best to cut greenhouse gas emissions, moreover they substantially encourage other nations and regions to follow the same way. The European Commission and a number of Member States have developed adaptation strategies in order to help strengthen EU's resilience to the inevitable impacts of climate change. The EU has long been a driving force in international negotiations on climate change and was instrumental in the development of the UN Framework Convention on Climate Change. As the world's leading donor of development aid, the EU also provides substantial funding to help developing countries tackle climate change problem. Global warming influences human health, biodiversity, ecosystems but also many social and economic sectors. The aim of this paper is to focus on impact of claimant change on for food security. Food security challenges are directly related to globalization, climate change. It means that current and future food policy is exposed to all cross-cutting and that must be linked with environmental and climate targets, which supposed to be achieved. In the 7th EAP —The new general Union Environment Action Program to 2020, called “Living well, within the limits of our planet” EU has agreed to step up its efforts to protect natural capital, stimulate resource efficient, low carbon growth and innovation, and safeguard people’s health and wellbeing– while respecting the Earth’s natural limits.

Keywords: Climate change, EU law, food policy, food security.

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Authors: Mara Magda Maftei

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The article emphasizes the ideological commitment of the philosopher Emil Cioran. It presents firstly Cioran's works on the theme announced by the title, then the European context that determined the political option of Cioran and a brief analysis of his relationship with History during his French period. The anti- Semitism of Cioran was favored by his attachment to a few philosophers, but also by the European extremist and anti-Semitic context. The article seeks to demonstrate that the philosopher Cioran, known more for his pessimism and nihilism, maintained in time an obsessive relationship with History. His political philosophy is as important as his subjective philosophy, better known than the former.

Keywords: Cioran, French writings, History, Iron Guard

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Authors: Gabriele Cecchetti, Anna Lina Ruscelli, Filippo Cugini, Piero Castoldi

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European Rail Traffic Management System (ERTMS) is the European reference for interoperable and safer signaling systems to efficiently manage trains running. If implemented, it allows trains cross seamlessly intra-European national borders. ERTMS has defined a secure communication protocol, EURORADIO, based on open communication networks. Its RadioInfill function can improve the reaction of the signaling system to changes in line conditions, avoiding unnecessary braking: its advantages in terms of power saving and travel time has been analyzed. In this paper a software implementation of the EURORADIO protocol with RadioInfill for ERTMS Level 1 using GSM-R is illustrated as part of the SR-Secure Italian project. In this building-blocks architecture the EURORADIO layers communicates together through modular Application Programm Interfaces. Security coding rules and railway industry requirements specified by EN 50128 standard have been respected. The proposed implementation has successfully passed conformity tests and has been tested on a computer-based simulator.

Keywords: ERTMS, ETCS signalling, EURORADIO protocol, radio infill function.

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Authors: Aleksandra Chiniaeva

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The following paper describes the activity of national and international parliamentary assemblies of the European region in protection and promotion of human rights. It may be said that parliamentarians have a “double mandate” — as members of the international assembly and of their respective national parliaments. In other words, parliamentarization at both international and national level provides a situation for parliamentarians, where they link people, national governments and international organizations. The paper is aimed towards demonstrating that the activity of the main international parliamentary assemblies of the European region have a real positive impact on the human rights situation in the European region. In addition, the paper describes the assemblies that include protection of human rights in their Agenda as one of the main subjects: the EP, the PACE, the OSCE PA and the IPA CIS. Co-operation activities such as joint election observation; participation in inter-parliamentary associations, such as the IPU; conclusion agreements allow assemblies to provide observation of human right situation in the states that are not members of the particular organization and as consequence make their impact broader.

Keywords: Human rights, International parliamentary assembly, IPU, EP, PACE, OSCE, IPA CIS, international election observation.

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Authors: Linda Ana Maria Ungureanu

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This article details the manner in which European law establishes the protection and ownership rights over works created in off-world environments or in relation to space exploration. In this sense, the analysis is focused on identifying the legal treatment applicable to creative works based on the provisions regulated under the International Space Treaties, on one side, and the International Intellectual Property (IP) Treaties and subsequent EU legislation, on the other side, with a special interest on European Space Agency (ESA) Rules and Regulations. Furthermore, the article analyses the manner in which ESA regulates the ownership regime applicable for creative works, taking into account the relationship existing between the inventor/creator and ESA and the environment in which the creative work was developed. Moreover, the article sets a series of de lege ferenda proposals for the regulation of IP matters in the context of space exploration, the main purpose being to identify legal measures and steps that need to be taken in order to ensure that creative activities are fostered and understood as a significant catalyst for encouraging space exploration.

Keywords: ESA guidelines, EU legislation, intellectual property law, international IP treaties.

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Authors: Pedro M. Abreu, Bruno R. Mendes

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The management of pharmacotherapy and the process of dispensing medicines is becoming critical in clinical pharmacy due to the increase of incidence and prevalence of chronic diseases, the complexity and customization of therapeutic regimens, the introduction of innovative and more expensive medicines, the unbalanced relation between expenditure and revenue as well as due to the lack of rationalization associated with medication use. For these reasons, co-payments emerged in Europe in the 70s and have been applied over the past few years in healthcare. Co-payments lead to a rationing and rationalization of user’s access under healthcare services and products, and simultaneously, to a qualification and improvement of the services and products for the end-user. This analysis, under hospital practices particularly and co-payment strategies in general, was carried out on all the European regions and identified four reference countries, that apply repeatedly this tool and with different approaches. The structure, content and adaptation of European co-payments were analyzed through 7 qualitative attributes and 19 performance indicators, and the results expressed in a scorecard, allowing to conclude that the German models (total score of 68,2% and 63,6% in both elected co-payments) can collect more compliance and effectiveness, the English models (total score of 50%) can be more accessible, and the French models (total score of 50%) can be more adequate to the socio-economic and legal framework. Other European models did not show the same quality and/or performance, so were not taken as a standard in the future design of co-payments strategies. In this sense, we can see in the co-payments a strategy not only to moderate the consumption of healthcare products and services, but especially to improve them, as well as a strategy to increment the value that the end-user assigns to these services and products, such as medicines.

Keywords: Clinical pharmacy, co-payments, healthcare, medicines.

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Authors: Nikola Radovanovic, Petros Gkotsis, Mathieu Doussineau

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Aeronautics is regarded as a strategically important sector for European competitiveness. It was at the heart of European entrepreneurial development since the industry was born. Currently, the EU is the world leader in the production of civil aircraft, including helicopters, aircraft engines, parts, and components. It is recording a surplus in trade relating to aerospace products, which are exported all over the globe. Also, this industry shows above-average investments in research and development, as demonstrated in the patent activity in this area. The post-pandemic recovery of the industry will partly depend on the possibilities to streamline collaboration in further research and innovation activities. Aeronautics features as one of the often-selected priority domains in smart specialisation, which represents the main regional and national approach in developing and implementing innovation policies in Europe. The basis for the selection of priority domains for smart specialisation lies in the mapping of innovative potential, with research and patent activities being among the key elements of this analysis. This research is aimed at identifying characteristics of the trends in research and patent activities in the regions and countries that base their competitiveness on the aeronautics sector. It is also aimed at determining the scope and patterns of collaborations in aeronautics between innovators from the European regions, focusing on revealing new technology areas that emerge from these collaborations. For this purpose, we developed a methodology based on desk research and the analysis of the PATSTAT patent database as well as the databases of R&I framework programmes.

Keywords: aeronautics, smart specialisation, innovation policy, regional policy.

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Authors: Younes Matar, Fabien Candelier, Camille Solliec

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The aim of this study is to investigate the kinematics of undulatory elongated fish swimming against a velocity flow. We perform the experiments on European eel Anguilla Anguilla swimming in a hydrodynamic re-circulating tank with the velocity flow fixed at 0.2 m/s. We find that the undulating shape of overall eel body changes when it swims slantwise from the flow direction, by comparison to axial undulation shape. We examine this kinematics and we propose a general equation describing the lateral position of undulation body taking into account the direction of the eel-s swimming.

Keywords: Undulatory swimming, maneuver, eel Anguilla Anguilla, biomechanic.

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However the global oil price is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate, and corruption index.

Keywords: Fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality.

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Authors: Adam Niewiadomski

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The research objective of the project and article “European Ecological Network Natura 2000 – opportunities and threats” Natura 2000 sites constitute a form of environmental protection, several legal problems are likely to result. Most controversially, certain sites will be subject to two regimes of protection: as national parks and as Natura 2000 sites. This dualism of the legal regulation makes it difficult to perform certain legal obligations related to the regimes envisaged under each form of environmental protection. Which regime and which obligations resulting from the particular form of environmental protection have priority and should prevail? What should be done if these obligations are contradictory? Furthermore, an institutional problem consists in that no public administration authority has the power to resolve legal conflicts concerning the application of a particular regime on a given site. There are also no criteria to decide priority and superiority of one form of environmental protection over the other. Which regulations are more important, those that pertain to national parks or to Natura 2000 sites? In the light of the current regulations, it is impossible to give a decisive answer to these questions. The internal hierarchy of forms of environmental protection has not been determined, and all such forms should be treated equally.

Keywords: Natura 2000, European Ecological Network.

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European decarbonization pathway, power market investment, public policies, technology choice.

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Authors: Encarnación Álvarez, Rosa M. García-Fernández, Francisco J. Blanco-Encomienda, Juan F. Muñoz

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The European Union Survey on Income and Living Conditions (EU-SILC) is a popular survey which provides information on income, poverty, social exclusion and living conditions of households and individuals in the European Union. The EU-SILC contains variables which may contain outliers. The presence of outliers can have an impact on the measures and indicators used by the EU-SILC. In this paper, we used data sets from various countries to analyze the presence of outliers. In addition, we obtain some indicators after removing these outliers, and a comparison between both situations can be observed. Finally, some conclusions are obtained.

Keywords: Headcount index, poverty line, risk of poverty, skewness coefficient.

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Authors: Adriana Alexandru, Elena Jitaru, Rayner Mayer

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The paper presents the results of the European EIE project “Realising the potential for small scale renewable energy sources in the home – Kyotointhehome". The project's global aim is to inform and educate teachers, students and their families so that they can realise the need and can assess the potential for energy efficiency (EE) measures and renewable energy sources (RES) in their homes. The project resources were translated and trialled by 16 partners in 10 European countries. A web-based methodology which will enable families to assess how RES can be incorporated into energy efficient homes was accomplished. The web application “KYOTOINHOME" will help the citizens to identify what they can do to help their community meet the Kyoto target for greenhouse gas reductions and prevent global warming. This application provides useful information on how the citizens can use renewable energy sources in their home to provide space heating and cooling, hot water and electricity. A methodology for assessing heat loss in a dwelling and application of heat pump system was elaborated and will be implemented this year. For schools, we developed a set of practical activities concerned with preventing climate change through using renewable energy sources. Complementary resources will also developed in the Romanian research project “Romania Contribution to the European Targets Regarding the Development of Renewable Energy Sources" - PROMES.

Keywords: Education, energy policy, Internet, renewable energy sources.

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Authors: Salah Alrabeei, Mohammad Yousuf

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The goal of option pricing theory is to help the investors to manage their money, enhance returns and control their financial future by theoretically valuing their options. Modeling option pricing by Black-School models with jumps guarantees to consider the market movement. However, only numerical methods can solve this model. Furthermore, not all the numerical methods are efficient to solve these models because they have nonsmoothing payoffs or discontinuous derivatives at the exercise price. In this paper, the exponential time differencing (ETD) method is applied for solving partial integrodifferential equations arising in pricing European options under Merton’s and Kou’s jump-diffusion models. Fast Fourier Transform (FFT) algorithm is used as a matrix-vector multiplication solver, which reduces the complexity from O(M2) into O(M logM). A partial fraction form of Pad`e schemes is used to overcome the complexity of inverting polynomial of matrices. These two tools guarantee to get efficient and accurate numerical solutions. We construct a parallel and easy to implement a version of the numerical scheme. Numerical experiments are given to show how fast and accurate is our scheme.

Keywords: Integral differential equations, L-stable methods, pricing European options, Jump–diffusion model.

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Authors: Ivan Lovrinović, Gordana Kordić, Martina Nakić

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There are little subjects in macroeconomics that are so widely discussed, but at the same time controversial and without a clear solution such as the choice of exchange rate regime. National authorities need to take into consideration numerous fundamentals, trying to fulfil goals of economic growth, low and stable inflation and international stability. This paper focuses on the countries of ex- Yugoslavia and their exchange rate history as independent states. We follow the development of the regimes in 6 countries during the transition through the financial crisis of the second part of the 2000s to the prospects of their final goal: full membership in the European Union. Main question is to what extent has the exchange regime contributed to their economic success, considering other objective factors.

Keywords: European Union, exchange rate regime, ex- Yugoslavia countries

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Authors: Giulia I. Pintea

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The Roma people are a nomadic ethnic group native to India, and they are one of the most prevalent minorities in Europe. In the past, Roma were enslaved and they were imprisoned in concentration camps during the Holocaust; today, Roma are subject to hate crimes and are denied access to healthcare, education, and proper housing. The aim of this project is to analyze how the public perception of the Roma people may be influenced by antiziganist and pro-Roma institutions in Europe. In order to carry out this project, we used social network analysis to build two large social networks: The antiziganist network, which is composed of institutions that oppress and racialize Roma, and the pro-Roma network, which is composed of institutions that advocate for and protect Roma rights. Measures of centrality, density, and modularity were obtained to determine which of the two social networks is exerting the greatest influence on the public’s perception of Roma in European societies. Furthermore, data on hate crimes on Roma were gathered from the Organization for Security and Cooperation in Europe (OSCE). We analyzed the trends in hate crimes on Roma for several European countries for 2009-2015 in order to see whether or not there have been changes in the public’s perception of Roma, thus helping us evaluate which of the two social networks has been more influential. Overall, the results suggest that there is a greater and faster exchange of information in the pro-Roma network. However, when taking the hate crimes into account, the impact of the pro-Roma institutions is ambiguous, due to differing patterns among European countries, suggesting that the impact of the pro-Roma network is inconsistent. Despite antiziganist institutions having a slower flow of information, the hate crime patterns also suggest that the antiziganist network has a higher impact on certain countries, which may be due to institutions outside the political sphere boosting the spread of antiziganist ideas and information to the European public.

Keywords: Applied mathematics, oppression, Roma people, social network analysis.

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Authors: Juha Kettunen

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This study presents a project that tests and adjusts active European learning and teaching methods in Indonesian universities to increase their external impact on enterprises and other organizations; it also assesses the implementation of the Erasmus+ projects funded by the European Union. The project is based on the approach of innovation pedagogy that responds to regional development needs and integrates applied research and development projects into education to create capabilities for students to participate in development work after graduation. The assessment of the Erasmus+ project resulted in many improvements that can be made to achieve higher quality and innovativeness. The results of this study are useful for those who want to improve the applied research and development projects of higher education institutions.

Keywords: Higher education, innovations, project management, networks.

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Authors: Douangmala Kousnana, Toru Takahashi

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In recent years, the number of natural disasters in the world has occurred frequently. After a strong earthquake occurs, multiple disasters due to tsunami, strong aftershocks or heavy snow can possible to occur. To prevent a secondary disaster and to save a life, the quick inspection of the damaged building is necessary. This paper investigated on a possibility of post earthquake quick inspection of damaged building by ordinary people which used the European Macro- Seismic Scale 1998 (EMS-98).

Keywords: Quick Assessment, EMS-98, Ordinary People, Post-Earthquake

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Authors: Giorgi Gaprindashvili

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One of the best examples, in evolution of the public procurement, from post-soviet countries are reforms carried out in Georgia, which brought them close to international standards of procurement. In Georgia, public procurement legislation started functioning short after gaining independence. The reform has passed several stages and came in the form as it is today. It should also be noted, that countries with economy in transition, including Georgia, implemented all the reforms in public procurement based on recommendations and support of World Bank, the United Nations and other international organizations. The aim of first adopted law was regulation of the procurement process of budget-organizations, transparency and creation of competitive environment for private companies to access state funds legally. The priorities were identified quite clearly in the wording of the law, but operation/function of this law could not be reached on its level, because of some objective and subjective reasons. The high level of corruption in all levels of governance can be considered as a main obstacle reason and of course, it is natural, that it had direct impact on the procurement process, as well as on transparency and rational use of state funds. These circumstances were the reasons that reforms in this sphere continued, to improve procurement process, in particular, the first wave of reforms began after several years. Public procurement agency carried out reform with World Bank with main purpose of smartening the procurement legislation and its harmonization with international treaties and agreements. Also with the support of World Bank various activities were carried out to raise awareness of participants involved in procurement system. Further major changes in the legislation were filed bit later, which was also directed towards the improvement and smarten of the procurement process. The third wave of the reform more or less guaranteed the transparency of the procurement process, which later became the basis for the rational spending of state funds. The reform of the procurement system completely changed the procedures. Carried out reform in Georgia resulted in introducing new electronic tendering system, which benefit the transparency of the process, after this became the basis for the further development of a competitive environment, which become a prerequisite for the state rational spending. Increased number of supplier organizations participating in the procurement process resulted in reduction of the estimated cost and the actual cost. Assessment of the reforms in Georgia in the field of public procurement can be concluded, that proper regulation of the sector and relevant policy may proceed to rational and transparent spending of the budget from country’s state institutions. Also, the business sector has the opportunity to work in competitive market conditions and to make a preliminary analysis, which is a prerequisite for future strategy and development.

Keywords: Public Administration, Public Procurement, Reforms, Transparency.

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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: Rihards Balodis, Inara Opmane

Abstract:

Deep and radical social reforms of the last century-s nineties in many Eastern European countries caused changes in Information Technology-s (IT) field. Inefficient information technologies were rapidly replaced with forefront IT solutions, e.g., in Eastern European countries there is a high level penetration of qualitative high-speed Internet. The authors have taken part in the introduction of those changes in Latvia-s leading IT research institute. Grounding on their experience authors in this paper offer an IT services based model for analysis the mentioned changes- and development processes in the higher education and research fields, i.e., for research e-infrastructure-s development. Compare to the international practice such services were developed in Eastern Europe in an untraditional way, which provided swift and positive technological changes.

Keywords: Computing, data networking, e-infrastructure, IT services.

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Authors: Herruzo E., Espejo R.A., Moreno R., González C., Benavides J.I., Plata, O.

Abstract:

This paper aims to explain the project carried out at the University of Cordoba, specifically at the High Polytechnic School in collaboration with two other organizations belonging to the Andalusian Ministry of Innovation, Science and Business: Andalusian Innovation and Development Agency (IDEA agency) [1] and the Territorial Net of Entrepreneurship Support (in Spanish Red Territorial de Apoyo al Emprendedor) [11]. The project is being developed in several stages of which only the first one has already been completed. However, several important preliminary results derive from it, based mainly in the description of the nature of entrepreneurship in the field of university education and its impact on student-s competency as recommended by the European Higher Education Area. Some problems holding back the correct future development will also be shown as derived from the specific context of application of the project.

Keywords: EHEA, Entrepreneurship, Innovation, TransversalCompetence.

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