This study uses a Mincerian earnings function to estimate the effect of education and experience on the wages of women working in developed business and trade center of Bishkek, Kyrgyztan. It employs a robust median regression and M Regression to estimate the functions for both public and private sectors. The paper also estimates the function using a least squared regression for comparison. Findings/Originality: The results show that returns to education for women employees in the private sector are higher than that of in the public sector. In contrast, the returns to experience for women employees in the public sector are higher than those in the private sector. The study reveals that schooling has strong causal effects on wages. Therefore, the government should give sufficient priority to education. Every Som spent in quality education generates strong positive returns for the whole economy. So that Kyrgyz government should put more efforts to enable individuals staying longer in education.

The financial market is an important element of any market economy. The study of the impact of financial development on the country's economic growth is a very important and urgent topic. The financial sector plays a key role both in developed and developing countries. Financial markets play a critical role in the distribution of capital, financial intermediation, the transformation of available funds into investment, the distribution and diversification of risks. A well-functioning financial market increases productivity and significantly affects the country's economic growth.The main objective of this study is to investigate the causal relationship between financial development, trade openness and economic growth. The empirical analysis of this study consists on panel data of 9 transition countries (Ukraine, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova and Tajikistan) over the period 1998 to 2015. In order to investigate the causal link between financial development and economic growth a three-stage Panel Granger causality test was employed. Firstly stationarity properties of the series are examined with the help of Pesaran (2007) panel unit root test. Then Westerlund (2007) panel cointegration method is applied. In the final stage Panel Granger causality test is performed.The results obtained suggest that there is evidence of a bidirectional causality between financial development and economic growth in the short-run. Policy makers in transition countries should consider the impact of financial development on economic growth. ЗВ'ЯЗОК МІЖ ФІНАНСОВИХ РОЗВИТКОМІ ЕКОНОМІЧНИМ ЗРОСТАННЯМ: НА ПРИКЛАДІ КРАЇН З ПЕРЕХІДНОЮ ЕКОНОМІКОЮ Анотація. Фінансовий ринок є важливим елементом будь-якої ринкової економіки. Вивчення впливу фінансового розвитку на економічне зростання країни є дуже важливою і актуальною темою. Фінансовий сектор відіграє ключову роль як у розвинених країнах, так і у країнах, що розвиваються. Велика роль фінансових ринків у розподілі капіталу, фінансового посередництва, трансформації вільних коштів в інвестиції, розподіл і диверсифікації ризиків. Добре функціонуючий фінансовий ринок підвищує продуктивність і суттєво впливає на економічне зростання країни.Основна мета цього дослідження -вивчити причинно-наслідковий зв'язок між фінансовим розвитком та економічним зростанням. Емпіричний аналіз цього дослідження складається з панельних даних дев'яти країн із перехідною економікою (Україна, Вірменія, Азербайджан, Білорусь, Грузія, Казахстан, Киргизстан, Молдова і Таджикистан) у період з 1998 до 2015 рр. Для вивчення причинно-наслідкового зв'язку між фінансовим розвитком та економічним зростанням був застосований триступеневий тест причинності Грейнджера. По-Стаття рекомендована до друку 10. 09.2018

Ratings are important in attracting foreign capital so they play a great role in the financial system of a country. The aim of the study is to investigate the impact of macroeconomic indicators on sovereign credit ratings assigned by Fitch. For this aim Panel ordered probit model was applied to the annual data from 2000 to 2011. The analysis rests on panel of 44 countries. According to the results obtained it can be concluded that gross domestic product growth rate , per capita gross domestic product, unemployment, export, default history and the level of economic development significantly affect ratings.

This study analysed the effectiveness of university promotion methods and factors affecting applicants’ choices. The study used a quantitative approach with a sample of 7839 university applicants. Results show that the most influential factor affecting university choice is the economic factors such as tuition fees, scholarships, etc.; nevertheless, family income is not among them. Education quality and academic staff also affect the choice. Besides, there were differences in the factors such as gender, region, family structure and secondary school background of the applicants.

Purpose This study aims to examine the hysteresis hypothesis in unemployment using monthly data from 13 countries in transition. Design/methodology/approach Stationarity in the unemployment rate of selected transition economies was analyzed using four different group unit root tests, namely, linear, structural breaks, non-linear and structural breaks and non-linear. Findings The empirical results show that the unemployment hysteresis hypothesis is valid for the majority of transition economies, including Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, the Kyrgyz Republic, Latvia, Lithuania, Poland, Romania and Slovenia. However, the results strongly reject the null hypothesis of unemployment hysteresis for the Kazakhstan and the Slovak Republics. Originality/value This study revealed that, for countries in transition, advanced unit root tests exhibit greater validity when compared to standard tests

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The number of people who cannot meet their basic needs is increasing day by day. In other words, poverty is emerging as a critical issue that needs to be urgently handled. It is important for researchers as well as policymakers to examine factors leading to possible reductions in poverty levels. Among these, the effect of the agricultural sector on the poverty alleviation is enormous. It is well documented that the share of agriculture in the stimulating development is high in all countries. Thus, to establish empirical validity for poverty-reducing effect of agricultural sector, the link between these two series needs to be examined comprehensively.In the current paper, the influence of agriculture on poverty in selected transition countries was investigated with the Panel ARDL model. In empirical analysis, annual data of Belarus, Estonia, Kazakhstan, Kyrgyzstan, Latvia, and Russia covering the period 2006-2015 was used. First, the stationarity properties of the series were analyzed with Panel unit root test. Then, variables were investigated with the Panel ARDL model. According to the findings obtained, it can be concluded that agriculture has a poverty reducing impact in the countries mentioned above.

This study examines the effects of economic and socio-demographic factors on the health status of men and women separately. The annual data of 16 selected transition countries for the period 2000-2016 were used. Life expectancy at birth was used as an indicator of health status in the study. Economic and environmental variables such as GDP per capita, health expenditures, unemployment, carbon emissions, access to safe water, and urbanization are considered as factors affecting life expectancy at birth. In the study, the Autoregressive Distributed Lags (ARDL) model was used. The findings show that the effects of socioeconomic and environmental factors on life expectancy differ according to men and women. It has been found that above-mentioned factors are more effective on life expectancy of men than women in selected transition economies. Therefore, it can be recommended to prioritize economic and environmental targets in improving the health outcomes of countries.