Theoretical and Applied Economics 

About: Theoretical and Applied Economics is an academic journal. The journal publishes majorly in the area(s): European union & Population. It has an ISSN identifier of 1841-8678. Over the lifetime, 1427 publications have been published receiving 6104 citations.

The issue of competing currencies. Case study - Bitcoin

Abstract: The complexity and interdependence of the economies of various geographical and political entities have one generic binder - money. The economic history of the last century, replicated in the first decade of our century, can be "written" with money. Indeed, money, a multiple discovery of the civilization in its historical way, was and still is the guardian of hope for prosperity. The disputes about money clearly indicate the need, opportunity and the possibility of monetary competition, which would provide, from the point of view of entrepreneurs, the most suitable production of money based on expectations of their economic preferences. Increasingly more, theorists, practitioners and analysts bring to the fore the issue of simultaneously using the official currency and the digital one. Thus, the issue of the public debate regarding the private money is still of interest. Based on these considerations, this paper aims to highlight how the digital currency Bitcoin can meet the challenges of the economic environment, taking into account both the opportunities and the threats to which it is subject, and the records emphasized by the history of economic thought and adapted to the current reality.

Transformational and Transactional Leadership Styles as a Predictor of Individual Outcomes

Abstract: This study was conducted to measure the relationship between transformational and transactional leadership styles and individual outcomes (i.e., perceptions of justice and trust in the leaders) using 118 usable questionnaires gathered from employees who have worked in a US subsidiary firm in East Malaysia, Malaysia. The results of exploratory analysis confirmed that the measurement scales used in this study met the acceptable standards of validity and reliability analyses. Further, the outcomes of Pearson correlation analysis showed six important findings: first, transformational leadership significantly correlated with procedural justice. Second, transactional leadership significantly correlated with distributive justice. Third, transformational leadership significantly correlated with trust in the leaders. Fourth, transactional leadership significantly correlated with trust in the leaders. Statistically, this result confirms that transformational leadership is an important predictor of procedural justice, transactional is an important predictor of distributive justice, and both leadership styles are important predictors of trust in the leaders. In addition, implications and discussion are elaborated.

Does Trade Help to Explain Tourism Demand? The Case of Portugal

Abstract: The tourism industry has expanded in recent years due to internal and external environmental forces. These forces, income, trade, consumer price, and geographical distance are interconnected. Accounting for imperfect competition and increasing returns to scale, the new trade theory offers the explanation of dynamic gains from international trade. A large number of studies attempt to test the hypothesis that there is a link between trade and tourism. Most of the studies show that trade and tourism are positively correlated. This paper specifies static and dynamic panel demand models for tourism in Portugal and estimates demand equations using tourist inflow data for the period 1995-2006. We find that bilateral trade, immigration, border, and geographical distance between Portugal and countries of origin are the main determinants of tourism to Portugal. The dynamic panel data approach indicates that trade, population, and income are more important determinants than relative price.

International dimensions of human resource management

Abstract: In a global context it is necessary to redefine the role of human resources department that has to offer to high level managers the necessary instruments to react on an international market, which is highly competitive. Speaking about human resources management from an international perspective, it is also important to discuss about the development process of the multinational companies, which are the main way to transfer the managerial know-how between countries and regions. The globalization process is seen as a factor of success that allows the know-how transfer between different management systems. Human resources management becomes the main instrument that assures the competitive advantage for the companies. The strategic decisions of the managers must reflect in a high rate the engagement for people. The strategic role of human resources management is highlighted by the high level of integrating the human resources strategy in the global strategy. The human resources activities must be related with all other processes developed in the companies. Although, globalization is one of the factors that determine the success of multinational companies on a market in a continuous change, the multidimensional character of success generate some problems that organizations must face.

The Relationship between Export and Economic Growth in Libya Arab Jamahiriya

Abstract: This study investigates the relationships between export and economic growth in Libya. An econometric model has been developed and estimated in order to determine the direction of causality in both, short and long run. The annual time series used for the estimation cover the time period 1980 - 2007. The findings indicate that the income, exports and relative prices are cointegrated. The long run bidirectional causality between the exports and income growth has been also proved. The study result indicates that the export promotion policy contributes to the economic growth in Libya.