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Journal of Applied Economics and Business    [3 followers]  Follow    
  This is an Open Access Journal Open Access journal
     ISSN (Print) 1857-8721 - ISSN (Online) 1857-8721
     Published by Education and Novel Technology Research Association Homepage  [1 journal]
  • Volume 1. Issue 1. Year 2013.
    • Authors: Marianna Sigala
      Abstract: Volume 1. Issue 1. Year 2013.
      PubDate: 2013-05-28
       
  • The Life Cycle Concept & the Evolution of Villages
    • Authors: Noga Collins-Kreiner
      Abstract: This paper tries to provide a theoretical framework for systematizing our understanding of how the rural settlements change. The work presents a structured description of the evolving phenomenon of Counter- Urbanization in the Moshavim (villages) in Israel using the 'product life cycle' model. The paper uses the model in order to explain the changes, which have taken place in the “Moshavim”- rural villages in Israel. It is claimed that as part of an ongoing process of change the Moshav is gradually going through the stages of a “product life cycle”- starting at birth, then development, stagnation, decline, death and a possible eventual rejuvenation. Today, it is assumed that many Moshavim in the central part of Israel are to be in the stage of ‘rejuvenation’ - which means that they are losing some of their unique features, those which formed the basis for their identities as a special type of rural community and are developing a new identity as a distinct type of rural community, or as a suburban or urban community. The research’s main contribution is provision of an elaborate framework for systematizing our understanding of how rural settlements change during time. This usage of a framework of the “Product life cycle” model was found to be suitable for interpreting the process that villages are experiencing today.
      PubDate: 2013-05-28
       
  • Recommending Ideal Holiday at National Level
    • Authors: Biljana Petrevska, Saso Koceski
      Abstract: The paper underlines the importance of meeting and fulfilling travelers’ and tourists’ preferences by introducing personalized recommendation system. The proposed web-based software model employs the process of collaborative filtering in order to assist tourists in identification of their ideal holiday. The research outcome is creation of generated personalized list of favorable and tailor-made potential items for all visitors of designed tourism portal. The accuracy testing performed highly satisfactory results thus reporting on positive practical experience at national level.
      PubDate: 2013-05-28
       
  • Empirical Evidence on Money Demand Modelling
    • Authors: Goran Petrevski
      Abstract: The paper provides an empirical analysis of the demand for narrow money in Macedonia. Specifically, it deals with the following issues: the empirical modelling of the demand for money in the long-run, the short-run dynamics of money, and the stability of the demand for money. The empirical analysis of the demand for money covers the period Q1:1994-Q4:2008. The period following the Global economic crisis is excluded due to clear structural break in data. For the purpose of the research, the following variables are applied: narrow money as represented by the monetary aggregate M1, real Gross Domestic Product, and nominal interest rate on 3-month time deposits, denominated in domestic currency. The Vector Error Correction Model (VECM) is employed by running two alternative test statistics: the trace of the stochastic matrix and the maximum eigenvalue. Based on both tests it may be concluded that there is cointegration relationship between the variables of interest. Furthermore, the research results may reflect the fact that we model the demand for narrow money, which serves for transaction purposes and not as an asset, so that economic agents tend to economise with money holdings. This finding is further confirmed by the pretty high coefficient before the interest rate, which is in line with the interest semi-elasticity usually found in other countries with less developed financial systems. As for the short-run dynamics, the results suggest very slow adjustment of the demand for money towards its long-run equilibrium level. Finally, an estimation of the recursive coefficients before real income and nominal interest rates is conducted and found that they remain quite stable over time. Therefore, one may take this exercise as evidence in favour of the stability of the demand for money.
      PubDate: 2013-05-28
       
  • Access to Finance: Case of the Baltic States
    • Authors: Ramona Rupeika-Apoga
      Abstract: The purpose of this research is by analysing financial resources availability in the three Baltic States to develop recommendations for improving access to financial services. The research methodology used in this paper starts with a literature review in order to highlight the importance of financial services availability from companies and financial market perspectives. The analysis conducted in this paper is based on data and statistics provided mainly by the Baltic States Central banks, by certain empirical studies and by the World economic forum data base. During development of the paper the generally accepted qualitative and quantitative methods of economic research were used including comparative analysis and synthesis, graphical illustration methods. To analyse access to finance is a multifaceted task, the author of the paper in this research has mostly concentrated on the main sources of finance: loans, stock markets and venture capital. The study results highlight the need to recognize that countries require sound and at the same time well-functioning financial markets. Only in this case financial markets can provide resources for investments as sound banking loans, properly regulated securities exchanges, venture capital, and other sources.
      PubDate: 2013-05-28
       
 
 
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