Public finance theory states that, related to the causality relationship between budgetary revenues and expenditures, it could be investigated if revenues adjust due to changes in expenditures, or otherwise, depending on the sense of the causality. This theory could, also, be applied to the components of current account in order to analyze the synchronization between inflows and outflows of international trade. In the case where the two time series are cointegrated, classical Granger causality test could reveal distorted results. Consequently, it can be used an adjusted Granger test based on cointegration equation between the two variables. The aim of this paper is to investigate the causal relationship between exports and imports of Romanian current account, according to the methodology of Engle and Granger. The results could reveal some insights related to the formation of current account deficit, based on the adjustments of inflows caused by changes in outflows, or, otherwise. Abstract. This paper is organised as follows: first, it is given a brief introduction of a simple model for European options price and next, the parallel algorithms applied to this model. Considering the idea given by odd%even cyclic reduc tion, we start from an explicit scheme obtained by means of finite differences, and give an alternative of evaluating the approximate values using an odd%even cyclic reduction which generates a logarit hmic time of execution. Also, it is solved numerically using a parallelised domain decomposition method. The spatial domain is splitted among several processors, with data communicated among the processors using MPI. Interface conditions between domains are calculated using finite differences. For smaller sized problems the communication time is much longer than the computation time.

http://www.ecocyb.ase.ro/2,2009,%20REZUMATE.pdf

Economic computation and economic cybernetics studies and research, issue 2/2009 abstracts, issue 2/ 2009

As the world came to a relative standstill during the initial stages of the outbreak of the COVID-19 pandemic, with nearly all countries having enforced some kind of COVID-19 regulations, the global tourism economy was one of the hardest hit. Travel bans and border closures resulted in many tourism businesses having to enter business rescue or shut down indefinitely. This new economic climate forced the tourism economy to imagine a new reality and to consider a negotiation of its revival in a post-pandemic world. Coupled with the impact on tourism itself, the pandemic resulted in a subsequent economic crisis, which unarguably, impacted upon travel, particularly leisure tourism. The South African tourism sector is no exception and will need to explore several avenues in addressing this new status quo. With domestic tourism being a weighty component of many countries’ tourism economies, it serves as an important building block for the resurgence of the industry. This is especially the case in a time when uncertainties are particularly prevalent for the re-emergence of international travel. Therefore, domestic tourism in South Africa has been a key starting point as travel restrictions have slowly started to lift, a context, which has been highlighted in current debates amongst South African tourism stakeholders. This paper explores the potential opportunities for opening up tourism to cash-strapped South Africans by specifically addressing their savings and travel cultures and prospects for future travel. The paper presents a desktop review of the recent introduction of savings and payment schemes available to travellers in South Africa, with particular focus on travel stokvels, leisure on lay-by and pay at your pace options.

Travel Stokvels, Leisure on Lay-by, and Pay at Your Pace Options: The Post COVID-19 Domestic Tourism Landscape in South Africa

Orientation: Talented employees play an essential role in the service performance of local government institutions. Unfortunately, talent management remains a neglected practice within the local government, mainly because of the absence of leadership talent mindsets.Research purpose: The main focus of this research study was to determine how leadership talent mindset influences talent management and voluntary turnover intentions of employees in a Botswana local government institution.Motivation for the study: Research on the predictive relationships between leadership talent mindset, talent management and voluntary turnover intentions is yet forthcoming in the Botswana context.Research approach/design and method: The researchers followed a quantitative research approach. Data were collected from a stratified random sample of employees (N = 405) from a Botswana local government institution. A leadership talent mindset scale, talent management measurements and voluntary turnover intentions questionnaire were administered.Main findings: The results showed a weak leadership talent mindset towards talent management. A leadership talent mindset significantly predicted poor talent management practices and voluntary turnover intentions. Talent development moderated the relationship between the leadership talent mindset and voluntary turnover intentions.Practical/managerial implications: Leaders need to adopt the appropriate talent mindsets to implement those talent management practices that will retain key and competent talent in local government institutions.Contribution/value-add: This research study advances empirical knowledge on the importance of leadership in facilitating effective talent management in local government. 

/pdf/leadership-talent-mindset-as-a-catalyst-for-talent-29kwby2s.pdf

Leadership talent mindset as a catalyst for talent management and talent retention: The case of a Botswana local government institution

This article addresses the allocation of Polish household savings that are invested in financial assets. As an economic category, these savings are very important in every country because they determine investments in the national economy, thereby influencing a country’s further economic growth and development. From this point of view, investigating both the allocation of personal savings and their structure is essential because they change due to changing economic circumstances, changing situations in the world’s financial markets, especially in the stock exchange markets, and the development of financial markets. The main purpose of this article is to analyze the changes in the allocation of savings in Polish households and the structure of their investment in financial assets. These changes, which are empirically observed, result from the circumstances of the national economy, which affect the behavior of investors in the stock market and determine the interest rate levels. The analysis is conducted on the basis of trend models with variations of parameters. The analysis has been carried out for the period Q4 2003 – Q3 2014.

An Allocation Analysis of Polish Household Savings Invested in Financial Assets, 2003-2014

This narrative review aimed to identify if roles of common informal savings groups known as Accumulating Savings and Credit Associations (ASCAs) or Rotating Savings and Credit Associations (ROSCAs) can play a significant role in mitigating food insecurity, socioeconomic inequality, promoting health, and/or increasing agency in women in urban sub-Saharan Africa (SSA). These organizations exist in most low- and middle-income countries (LMICs) worldwide under various names. A comprehensive search of scholarly outputs across six electronic databases (Pub-Med, Google Scholar, EBSCOhost, Scopus, Sabinet, and Cochrane) from 2000 to 2021 was completed. Twenty-eight (28) records met our inclusion criteria, and their quality was appraised using the Critical Appraisal Skills Programme (CASP) qualitative checklist. We identified through thematic analysis that ROSCAs/ASCAs play a crucial role in advancing social, economic, and health transformations, especially among women in urban SSA. However, while ROSCAs/ACSAs played important roles in food security, it was often not the primary motivation for participation. None of the selected studies identified the importance of dietary quality or access to healthy food in relation to food security. This review suggests a window of opportunity to promote partnerships and collaborations of ROSCAs/ASCAs with relevant stakeholders to leverage the functionalities of ROSCAs/ASCAs as vehicles for re-alignment of priorities, increased knowledge, and opportunities to encourage affordable healthy diets in urban SSA.

/pdf/can-informal-savings-groups-promote-food-security-and-social-3k8vio3d.pdf

Can Informal Savings Groups Promote Food Security and Social, Economic and Health Transformations, Especially among Women in Urban Sub-Saharan Africa: A Narrative Systematic Review

Stokvel is a type of ‘rotating savings and credit associations’ found only in South Africa (SA) which have an estimated value of R49 billion and a membership of 11,5 million, in a country with a populace of 57million and an informal economy with a total value of R160 billion – yet remain a hidden sector of the economy. This confirms that there is a shortage of the consulted literature on the model for integrating the stokvels into the economic policy framework of a municipality. Therefore, developing the stokvel industry could be key to poverty alleviation, reduction of unemployment and broadening equitable access to the ownership of the economy and capital accumulation; thus, improving the livelihoods and raising the standard of living. The objective of the paper is to determine the economic contribution factors of stokvels in the economic transformation of SA at a municipality level. The paper used a mixed methods design. A sample size of 395 stokvel groups’ respondents for the quantitative research was selected using a simple random probability sampling method. The response rate was 100 percent. For the qualitative part, six policy-makers were interviewed using the purposive non-probability sampling method. The paper revealed that the money saving and investment, business opportunities and job creation, and policy development were the main economic contribution factors of stokvels in SA at the municipalities. The paper recommended for policy-makers to formulate an economic transformation policy framework inclusive of stokvels and to adopt their economic contribution factors.

/pdf/the-role-of-stokvels-in-south-africa-a-case-of-economic-42w4e8z5j3.pdf

The role of stokvels in South Africa: a case of economic transformation of a municipality

The term Human Resource Planning (HRP) can be used to achieve organizational objectives by understanding and planning for employees’ needs in the short, medium and long term in order to deliver desired results. Little research that has been conducted on HRP and most are from the private sector and none to be found in the public sector. This study was conducted in the public institution in South Africa. The literature consulted provides an overview that HRP solves current and future organizational problems by ensuring that the right people are in the right place at the right time. This is achieved by analyzing the current profile of the workforce and comparing it with future needs so that gaps, which need to be filled, can be identified. The paper intended to investigate the extent to which employees are well-resourced to perform their duties in centres of the municipality to the community. The investigation used mixed methods in its data collection. 45 participants participated in responding the self-administered questionnaire and seven participated in one-on-one interviews. The study found that half of employees who are working for the centres of the municipality includes supervisors who lack educational attainments, as they hold only grade 12 and no development was initiated. The study recommended the whole the municipality to establish and implement a promotion policy. All necessary equipment and tools provided were insufficient, as required by the Act, to provide all services to the public.

/pdf/the-role-of-human-resource-planning-in-producing-well-55zlht73vf.pdf

The role of human resource planning in producing well-resourced employees to public

The paper aimed to identify the obstacles of Human Resource Planning (HRP) that affect workers in delivering quality services to public within the customer centres of the municipality located in South Africa (SA). Since, HRP is well known as a tool that resolves the existing and future organization obstacles by confirming that the right employees are placed in the right positions at the right time. The investigation of the paper used mixed methods, which encompasses both qualitative and quantitative methods in its data collection. From the target, only 45 workers completed a questionnaire and only seven supervisors participated in one-on-one interviews. Results reveal the lack of both internal and external factors, which include a shortage of workers to perform the duties of the municipal in the customer centres. This includes demographic issues, lack of education qualifications, recruitment policies, insufficient working tools, working environment and career growth. The recommendation is to implement a strategical recognition for good performance to workers and to look for other venues with enough space to deliver quality services. Lastly, there is a need to establish and implement strategies of promotion and growth within the municipality.

/pdf/obstacles-of-human-resource-planning-that-affect-workers-in-lin28rugar.pdf

Njabulo Khumalo

Papers

The role of stokvels in South Africa: a case of economic transformation of a municipality

The role of human resource planning in producing well-resourced employees to public

Obstacles of human resource planning that affect workers in delivering quality services