Lina Sineviciene

Bio: Lina Sineviciene is an academic researcher from Kaunas University of Technology. The author has contributed to research in topics: Investment (macroeconomics) & Per capita. The author has an hindex of 5, co-authored 16 publications receiving 134 citations.

Determinants of energy efficiency and energy consumption of Eastern Europe post-communist economies

Abstract: Energy consumption reduction and energy efficiency improvement are recognized as global priorities in the context of the green economy and sustainable development. In this paper, determinants of en...

Fiscal decentralization and macroeconomic stability: the experience of Ukraine’s economy

Abstract: The main objective of this research is to study the role and impact of fiscal decentralization on the macroeconomic stability of the country. The paper analyzes and systematizes approaches to the definition of ‘macroeconomic stability’ concept. The key factors that impact macroeconomic stability are identified. In the framework of this research, the authors identify fiscal decentralization as one of the factors affecting macroeconomic stability. To determine the strength and statistical significance of the above mentioned relationship, the authors suggest presenting macroeconomic stability as a functional dependency between macroeconomic stability and the level of fiscal decentralization, which is described by the following variables: the growth rate of money supply, investment and openness of the economy, fiscal decentralization. In this case, it is suggested to determine the level of fiscal decentralization in three directions: expenditure decentralization, revenue decentralization and expenditure decentralization simultaneously. Leonid Melnyk (Ukraine), Lina Sineviciene (Lithuania), Oleksii Lyulyov (Ukraine), Tetyana Pimonenko (Ukraine), Iryna Dehtyarova (Ukraine) BUSINESS PERSPECTIVES LLC “СPС “Business Perspectives” Hryhorii Skovoroda lane, 10, Sumy, 40022, Ukraine www.businessperspectives.org FISCAL DECENTRALIZATION AND MACROECONOMIC STABILITY: THE EXPERIENCE OF UKRAINE’S ECONOMY Received on: 11th of October, 2017 Accepted on: 26th of November, 2017

Fiscal Policy Interaction with Private Investment: the Case of the Baltic States

Abstract: Government's role in promoting the country's economy remains a relevant issue both in academics and politicians debates. Not only for individual countries but also for the European Union as a whole the promotion of high value-added activities, in particular in lower development small open economies which hardly recover from external economic shocks and experience significant social problems due to high unemployment level remains a relevant issue. The country's competitiveness and level of development, as well as the country's economy growth, depend on high value-added investment growth, and both private and public investments play a significant role in economy of each country. Government's role, in particular through the fiscal policy, in the promotion of these activities is crucial. The prevailing view in the scientific literature is that in developed countries public investment crowds out private investment, while in developing – crowds in, but it is not clear under what conditions these effects occur because the countries are very different. Also the effect of the taxes revenues and the government expenditure indicators on private investment is unclear because the effect of these variables on private investment has not been studied comprehensively. So the aim of the research is to evaluate the relationship between fiscal policy indicators, such as the government revenues from taxes and the government expenditure, and private investment comprehensively including indicators of macroeconomic environment in the Baltic States, by applying correlation and regression analysis. The conducted research revealed the existence of strong direct relationship between the fiscal policy indicators and private investment in the Baltic States, showing the importance of fiscal policy to private investment. During the analysis of detailed tax and expenditure indicators it has been established that the strongest relationship exists between the current taxes on income, wealth, etc and public investment with private investment. The current taxes on income, wealth, etc indicator explains about 86 percent of the private investment fluctuations and the gross fixed capital formation by public sector indicator explains about 80 percent of the private investment fluctuations in the Baltic States, whereas the effect of these indicators on private investment is analyzed separately, while macroeconomic indicators of a country explain only about 8-13 percent of the private investment fluctuations. DOI: http://dx.doi.org/10.5755/j01.ee.23.3.1934

Economic and environmental convergence of transformation economy: the case of China

Abstract: Rapid economic reforms and proper GDP growth in China has affected the regional development of Chinese provinces. This study aims to estimate the degree of economic and environmental disparities within Chinese provinces for developing policy recommendations of regional transformation. The reduced log-linear specification of endogenous growth model is used for the estimation of convergence rates within Chinese provinces. The empirical results prove that an increase of 1% in GDP per capita basic year reduces the economic growth rate by 0.1% in the reference year. Thus, the ratio of the average per capita income in the wealthiest group to poorest provinces accounted for the factor 9.6 in 1995 and factor 4.1 in the year 2015, which means a reduction of disproportionate development. Environmental convergence trends were also found and less polluted provinces eventually increase emissions at higher rates than the initially polluted ones. With the pass of time, all provinces do move to the same steady state in environmental parameters. The speed of the economic and environmental convergence in China provinces is rather slow, and the economic growth was achieved by great sacrifices of an environment, since all provinces are striving to the same steady state in terms of pollution increase. The industrialized regions due to the presence of significant financial resources should pay more attention to the protection of the environment using all the available economic potential. At the same time, both initially poor provinces and rich have to develop more profoundly agriculture, tourism, recreation, and other environmentally friendly industries to improve economic performance.

Socio-economic and cultural effects of disruptive industrial technologies for sustainable development

Abstract: The size of the business intelligence market and its growth allows to estimate the short-term substitution effect, when the labour is replaced by artificial intelligence. Positive impacts of disruptive technologies include the dematerialisation of the industrial metabolism, and less ecological impact on nature, as prerequisites for the implementation of a circular economy. The negative consequences of disruptive technologies are difficult to predict, and the paper classifies them in eight groups: psychological impact; information vulnerability; increasing information dependence; the risk of creative potential reduction; the increasing cost of waste in the green economy; loss of jobs; privacy decrease; hacking and the loss of human control over cyber systems. The Internet of Things could not appear before the digital technologies (from a personal computer to 'cloud' technologies) reached industrial maturity. Also, societal, legislation and economic challenges raised by disruptive technologies for workers and firms are discussed.

European Bank for Reconstruction and Development (EBRD)

Abstract: The European Bank for Reconstruction and Development, headquartered in London, England, fosters the transition toward market-oriented economies and promotes private and entrepreneurial initiatives in Central and Eastern Europe and the Commonwealth of Indep