Abstract: The concept of competitiveness is currently very
frequently used term. However, the interpretation of its essence is
different. In this paper, one of the many concepts of competitiveness
will be analyzed and that is macroeconomic competitiveness, which
is understood as a process, which is based on the productivity growth
through the growth of key macroeconomic indicators such as
standards of living and employment, where all of these variables
must have a sustainable basis. Given the competition is a relative
quantity it must be constantly compared with the development of
competitiveness in other economies or regions. And this comparison
method is also used in the article that compares the macrocompetitiveness
of selected economies of the European Economic
Area – the Czech Republic, Poland, Austria, Switzerland and
Germany. The aim of the paper is to verify the hypothesis concerning
the direct correlation between the size of the economy and its
competitiveness.
Abstract: Rice grain is Sierra Leone’s staple food and the nation
imports over 120,000 metric tons annually due to a shortfall in its
cultivation. Thus, the insufficient level of the crop's cultivation in
Sierra Leone is caused by many problems and this led to the
endlessly widening supply and demand for the crop within the
country. Consequently, this has instigated the government to spend
huge money on the importation of this grain that would have been
otherwise cultivated domestically at a cheaper cost. Hence, this
research attempts to explore the response of rice supply with respect
to its demand in Sierra Leone within the period 1980-2010.
The Nerlovian adjustment model to the Sierra Leone rice data set
within the period 1980-2010 was used. The estimated trend equations
revealed that time had significant effect on output, productivity
(yield) and area (acreage) of rice grain within the period 1980-2010
and this occurred generally at the 1% level of significance. The
results showed that, almost the entire growth in output had the
tendency to increase in the area cultivated to the crop. The time trend
variable that was included for government policy intervention
showed an insignificant effect on all the variables considered in this
research. Therefore, both the short-run and long-run price response
was inelastic since all their values were less than one.
From the findings above, immediate actions that will lead to
productivity growth in rice cultivation are required.
To achieve the above, the responsible agencies should provide
extension service schemes to farmers as well as motivating them on
the adoption of modern rice varieties and technology in their rice
cultivation ventures.
Abstract: Human society, there are many uncertainties, such as economic growth rate forecast of the financial crisis, many scholars have, since the the Song Chissom two scholars in 1993 the concept of the so-called fuzzy time series (Fuzzy Time Series)different mode to deal with these problems, a previous study, however, usually does not consider the relevant variables selected and fuzzy process based solely on subjective opinions the fuzzy semantic discrete, so can not objectively reflect the characteristics of the data set, in addition to carrying outforecasts are often fuzzy rules as equally important, failed to consider the importance of each fuzzy rule. For these reasons, the variable selection (Factor Selection) through self-organizing map (Self-Organizing Map, SOM) and proposed high-end weighted multivariate fuzzy time series model based on fuzzy neural network (Fuzzy-BPN), and using the the sequential weighted average operator (Ordered Weighted Averaging operator, OWA) weighted prediction. Therefore, in order to verify the proposed method, the Taiwan stock exchange (Taiwan Stock Exchange Corporation) Taiwan Weighted Stock Index (Taiwan Stock Exchange Capitalization Weighted Stock Index, TAIEX) as experimental forecast target, in order to filter the appropriate variables in the experiment Finally, included in other studies in recent years mode in conjunction with this study, the results showed that the predictive ability of this study further improve.
Abstract: Knowledge is the foundation for growth and development. Investment in knowledge improves new method for originate knowledge society and knowledge economy. Investment in knowledge embraces expenditure on education and R&D and software. Measuring of investment in knowledge is characteristically complicated. We examine the influence of investment in knowledge in multifactor productivity growth and numbers of patent. We analyze the annual growth of investment in knowledge and we estimate portion of each country intended for produce total investment in knowledge on the whole OECD. We determine the relative efficiency of average patent numbers with average investment in knowledge and we compare GDP growth rates and growth of knowledge investment. The main purpose in this paper is to study to evaluate different aspect, influence and output of investment in knowledge in OECD countries.
Abstract: This article provides empirical evidence on the effect
of domestic and international factors on the U.S. current account
deficit. Linear dynamic regression and vector autoregression models
are employed to estimate the relationships during the period from 1986
to 2011. The findings of this study suggest that the current and lagged
private saving rate and foreign current account for East Asian
economies have played a vital role in affecting the U.S. current
account. Additionally, using Granger causality tests and variance
decompositions, the change of the productivity growth and foreign
domestic demand are determined to influence significantly the change
of the U.S. current account. To summarize, the empirical relationship
between the U.S. current account deficit and its determinants is
sensitive to alternative regression models and specifications.
Abstract: There are many debates now regarding undervalued
and overvalued currencies currently traded on the world financial
market. This paper contributes to these debates from a theoretical
point of view. We present the three most commonly used methods of
estimating the equilibrium real effective exchange rate (REER):
macroeconomic balance approach, external sustainability approach
and equilibrium real effective exchange rate approach in the reduced
form. Moreover, we discuss key concepts of the calculation of the
real exchange rate (RER) based on applied explanatory variables:
nominal exchange rates, terms of trade and tradable and non-tradable
goods. Last but not least, we discuss the three main driving forces
behind real exchange rates movements which include terms of trade,
relative productivity growth and the interest rate differential.