Pressburg Economic Review 2022-05-01T18:12:49+00:00 Ani Galstyan Open Journal Systems <p>Pressburg Economic Review (PER) is an international double-blind peer-reviewed academic open access journal published by the Pressburg Economic Centre ltd, non-profit organisation based in London, UK. The journal is methodologically open, drawing on the insights suggested by a variety of intellectual traditions, and address to a diverse readership.</p> <p>Pressburg Economic Review is indexed and abstracted by <a title="PER Journal on RePEc" href=";archive=awb" target="_blank" rel="noopener"><strong>RePEc and EconPapers</strong></a>.</p> <p>ISSN: 2754-2556</p> DOING BUSINESS IN CENTRAL EUROPE: THE SLOVAK REPUBLIC AND THE CZECH REPUBLIC COMPARISON 2022-03-09T19:08:05+00:00 Simona Činčalová Andrej Kiner Vijesh Chaudhary Qasim Raza Syed <p>At the time of globalization the business environment of the country has a crucial impact on its attractiveness for investments and the economic development. The aim of this paper is to discover the effectiveness of developing attractive doing business environment in the Slovak Republic and the Czech Republic. As a methodological basis in the current paper were used the Global Competitiveness Report, Doing Business Index, the Index of Economic Freedom and their corresponding indicators to analyze the business environment and the attractiveness of the countries in terms of foreign direct investments. We examined the ranking of both countries in the relevant international rankings of indices impacting the business environment, as well as in terms of FDI attractiveness. The results show that the Czech Republic is more successful in terms of doing business. Based on the results we can conclude that the main advantages of Czech Republic compared to Slovakia are the higher effectiveness in terms of administrative requirements and entrepreneurial culture, getting electricity access, protecting minority investors, resolving insolvency and all economic freedom indicators except for investment freedom.</p> 2021-12-31T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre CREATIVE INDUSTRY IN TERMS OF COVID-2019 PANDEMIC: EUROPEAN COUNTRIES RESPONSIVE MEASURES 2022-03-09T19:30:37+00:00 Roni Bhowmik Gouranga Chandra Debnath Raja Fawad Zafar Bruce Lortile Lormon <p>Creative sectors are vital in their own right in terms of their economic footmark and employment. Furthermore, they push innovation across the economy, as well as contribute to various other channels for positive social effect (education, inclusion, wellbeing, health, urban renewal). Creative industry was hit hardly by the pandemic, with large cities often covering the greatest share of jobs at-risk. This paper aimed to discover the effects of the pandemic on creative sectors and the measures European countries have introduced to support creative industry. The study employed the methods of statistical and comparative analysis and the construction of logical assumptions. The results show that the COVID-19 has affected almost every individual in the creative industry. Many European counties have used various approaches and tools to support the impact of the pandemic on creative industry. There is a need for all the countries to be proactive in protecting the arts and culture and to give the creative sector and arts professionals the appropriate tools to develop strong and cultural policies.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre THE ROLE OF GOVERNMENT MEASURES AND COMPETITION AUTHORITIES IN SUPPORTING COMPETITION ENVIRONMENT IN THE SOUTHEASTERN EUROPE DURING COVID-2019 PANDEMIC 2022-03-09T19:23:42+00:00 Maria Pitukhina Mariusz Urbański <p>Competition policy is one of the most important tools that governments can use to develop resilient, inclusive and sustainable economy. It is also a vital tool to reduce inequality and strengthen societal trust. The COVID-19 crisis has increased the importance of competition policies for all the countries of the world. Without intervention of the state around 38% of the firms in 16 European countries have reported that they would lose liquidity during one-month measures of quarantine isolation. Thus, this paper discusses what measures can the government and competition authorities use to support the competition environment and recovery process in Eastern Europe during the COVID-2019 pandemic.</p> 2021-12-31T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre ECONOMIC DIVERSIFICATION IN RESOURCE-BASED ECONOMIES: NORWAY EXPERIENCE 2022-03-09T19:37:48+00:00 Alisa Magdich János Szenderák Mónika Harangi-Rákos <p>The need for economic diversification in oil-rich countries is mainly explained by the following reasons. First, oil returns became seriously concerned by highly volatile and unstable oil prices. Second, there is an increasing pressure on all the countries to decrease their use of fossil fuels in order to avoid global warming from becoming worse and avoid the worst consequences of climate change. In current paper, we have considered the experience of Norway in diversifying the economy. In contrast with other resourcebased countries, Norway has not demanded oil incomes to relieve poverty-related issues or to sustain any particular political regime. The country has developed strong political, economic and legislation system in order to avoid resource-curse dependency.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre THE EFFECTS OF THE COVID-2019 PANDEMIC ON LARGE EUROPEAN ECONOMIES: FRANCE AND THE UK CASES 2022-03-09T19:44:12+00:00 Mohammed Habes Edina Erdei Judit Oláh olá <p>Governments worldwide have applied large-scale economic measures to support their companies and employees during the COVID-2019 pandemic. In current research, we have considered how the pandemic affected two large European economies – France and the UK. We have also investigated in detail what economic measures governments of both countries have introduced to support their economies. Our research has shown that the UK has suffered more severely and implemented broad financial measures.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre ECONOMIC DEVELOPMENT AND MIGRATION AFTER EU ACCESSION: THE CASE OF BALTIC STATES 2022-03-09T19:50:10+00:00 Ani Galstyan Monika Grabowska Vaida Bačiulienė <p>The Eastern enlargement of the European Union had an unprecedented influence on the migration flows serving as a driving force for east to west migration. The current paper aims to identify the extent and determinants of migration in the Baltic States following the European Union accession in 2004 due to liberalisation of the movement of population to the west. The research was based on analysing the statistical data on several push and pull factors, including economic, social and demographic determinants. The results show that the main determinants of emigration in the Baltic region are the unfavourable macroeconomic conditions, including low income, low GDP per capita, and high unemployment rate. Such migration determinants lead to "brain drain" in the region. The Baltic States developed and implemented various migration policies to prevent further emigration and encourage return migration since EU accession.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre INNOVATION DEVELOPMENT FACTORS: SWITZERLAND EXPERIENCE 2022-03-09T19:54:58+00:00 Omer Faruk Derindag Maya Lambovska Daniela Todorova <p>To achieve the aims of sustainable development of a country, it is necessary that the values of the innovative economy are shared, if not by the whole society, then at least by its main driving forces. The innovation process is no long dependent on the efforts of one innovator. It has become interactive: in addition to the direct developers of innovation, other agents are involved in innovation development. Therefore, innovation should be seen as a product of multidimensional interaction of many participants. This is a specific environment where not only innovators are present, but also financiers, lawyers, marketers, logisticians, consultants, etc. Switzerland has become a highly successful example of a country, which developed such interaction. In current research, we discuss what factors led to innovation success in Switzerland.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre SME DEVELOPMENT: INTERNATIONAL FACTORS AND COVID-2019 EFFECTS IN THE SELECTED EU ECONOMIES 2022-03-09T20:01:53+00:00 Seyedeh Fatemeh Ghasempour Ganji Zdenko Metzker <p>SME sector is the most important element of the market economy for many countries. Small and medium enterprises largely determine the rate of economic growth, the structure and quality of the GDP (gross national product). In current paper, we have discussed the factors, which traditionally affect the development of SMEs. We emphasize that the role of the government is very important for the SMEs development, as along with traditional international factors affecting SMEs, the world is now facing the effects of the COVID-2019 pandemic, which has pushed a huge number of businesses to the brink of survival. Without government measures to mitigate the negative consequences of COVID-2019, the SME sector of many economies might not survive. Thus, it is vital to study the effective measures of the developed economies, which can be used in other countries to address the effects of COVID-2019.</p> 2022-03-09T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Centre THE IMPACT OF COVID-19 ON THE LABOUR MARKET 2022-05-01T18:12:49+00:00 Hussein Mkiyes <p class="western" align="justify"><span style="font-family: Times New Roman, serif;"><span style="font-size: small;"><span lang="en-US"><em>The COVID-19 pandemic had a tremendous impact on the global economy. The pandemic caused an economic downturn both in advanced and emerging economies worldwide, leading to an economic slowdown in the world economy. The European Union member states developed policy responses both to contain the spread of the virus and to support economic activity. Currently, the European economies face several challenges regarding macroeconomic indicators, particularly unemployment, employment, wages and inflation. </em></span></span></span><span style="font-family: Times New Roman, serif;"><span style="font-size: small;"><span lang="en-GB"><em>The current article aims to study the impact of the COVID-19 pandemic on the labour market of the European Union member states with advanced and emerging economies in 2020 and 2021.</em></span></span></span></p> <p class="western" align="justify"> </p> 2021-12-31T00:00:00+00:00 Copyright (c) 2021 Pressburg Economic Review