Abstract:The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stabi… Show more
“…Index values range from 0 to 200. Macroeconomic stability will be characterized by the following indicators: GDP, COR -level of corruption, OER -stability of the national currency, TR -stability of tax revenues (Gajdosova, 2023;AL-Mutairi et al, 2023;Bartkute et al, 2023;Ben Amor, 2023;Bozhenko, 2022;Dankiewicz et al, 2022;Linhartová & Halásková, 2022).…”
The article is devoted to the study of the relationship between a country's macroeconomic stability and the level of transparency and public trust in the financial sector and public authorities. Canonical analysis and structural modeling served as methodological tools of the research. The study examined the data from eight EU countries (Austria, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, Czech Republic, and Italy) over the 2011-2021period. Eight indicators of public sector transparency and one indicator of the degree of public trust (Consumer Sentiment Index) were chosen to establish the relationship between the components. The results of structural modeling proved that public trust has a much greater impact on macroeconomic stability than indicators of public sector transparency. A 1-point increase in public trust leads the GDP to increase by 0.018% and the stability of the currency exchange rate – by 0.352%. Meanwhile the same effect from a 1-point increase in the level of public sector transparency amounts to 0.061% and 0.021% increases, respectively.
“…Index values range from 0 to 200. Macroeconomic stability will be characterized by the following indicators: GDP, COR -level of corruption, OER -stability of the national currency, TR -stability of tax revenues (Gajdosova, 2023;AL-Mutairi et al, 2023;Bartkute et al, 2023;Ben Amor, 2023;Bozhenko, 2022;Dankiewicz et al, 2022;Linhartová & Halásková, 2022).…”
The article is devoted to the study of the relationship between a country's macroeconomic stability and the level of transparency and public trust in the financial sector and public authorities. Canonical analysis and structural modeling served as methodological tools of the research. The study examined the data from eight EU countries (Austria, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, Czech Republic, and Italy) over the 2011-2021period. Eight indicators of public sector transparency and one indicator of the degree of public trust (Consumer Sentiment Index) were chosen to establish the relationship between the components. The results of structural modeling proved that public trust has a much greater impact on macroeconomic stability than indicators of public sector transparency. A 1-point increase in public trust leads the GDP to increase by 0.018% and the stability of the currency exchange rate – by 0.352%. Meanwhile the same effect from a 1-point increase in the level of public sector transparency amounts to 0.061% and 0.021% increases, respectively.
The modern concept of franchise management in the context of strategic business development is aimed at clarifying the elements of provisions that provide a systematic and focused approach to strategic business development, contributing to its sustainability and growth in the long term. That is why franchising in modern conditions of a lean and green economy is becoming a strategy that ensures mutually beneficial positions of partners of the two sides, which is manifested in the right approach to cooperation and fulfillment of obligations.
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