Economic Archive

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  EFFECTS OF THE GLOBAL ECONOMIC CRISIS AND THE COVID-19 PANDEMIC ON SOVEREIGN DEBT MANAGEMENT IN HEAVILY INDEBTED COUNTRIES

  This article presents an analysis of the sovereign debt in some heavily indebted countries worldwide, including Venezuela, Sudan, Japan and Greece. Its main objective is to track and compare the initial effects of the global financial and economic crisis (2008) and the COVID-19 pandemic on sovereign debt levels in those countries. This is why it ... This article presents an analysis of the sovereign debt in some heavily indebted countries worldwide, including Venezuela, Sudan, Japan and Greece. Its main objective is to track and compare the initial effects of the global financial and economic crisis (2008) and the COVID-19 pandemic on sovereign debt levels in those countries. This is why it starts with a classification of the theoretical concepts addressing the relationship between economic crises and changes in the levels of sovereign debt. It then defines the main drivers for the sharp increase of the sovereign debt in these countries and describes the dynamics of the revenues, expenditures and balances of their budgets.

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  ECONOMIC GROWTH IN THE EUROZONE AND ON THE BALKANS: A COINTEGRATION ANALYSIS

  The global financial and economic crisis of 2008 and in particular the ensuing debt crisis in the euro area in 2009 affected both the economic growth in the euro area and the economic growth in almost all Central and Eastern European countries, including, although to a lesser degree, the Balkan countries. This lower degree of interdependence ... The global financial and economic crisis of 2008 and in particular the ensuing debt crisis in the euro area in 2009 affected both the economic growth in the euro area and the economic growth in almost all Central and Eastern European countries, including, although to a lesser degree, the Balkan countries. This lower degree of interdependence between most of the Balkan economies and the Eurozone countries is exactly the reason for this study, which aims to determine whether there is a long-term relationship between the economies of the Balkan countries and the Eurozone in general through a co-integration analysis.

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  THE IMPACT OF GLOBAL TRENDS AND COVID-19 ON INTERNATIONAL NEW VENTURES

  The COVID-19 pandemic has accelerated existing trends in the global business environment thus changing the conditions for performing international entrepreneurial activity. Four such trends of a key role in international business are the digitalization and active use of communication technologies, the restructuring of global supply chains, the ... The COVID-19 pandemic has accelerated existing trends in the global business environment thus changing the conditions for performing international entrepreneurial activity. Four such trends of a key role in international business are the digitalization and active use of communication technologies, the restructuring of global supply chains, the erosion of trust in international organizations, and finally yet importantly, the integrity of international business networks and knowledge transfer. The paper explores the impact of the acceleration of these trends on the creation and the success of international new ventures.