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The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.
The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.
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.
Global dynamics, including globalization, resource mobility, and capital flow, have profoundly transformed countries' long-term development policies and shaped migrants' motivations. Beyond traditional socioeconomic considerations, migrants prioritize a country's global brand and image, extending beyond economics to cultural, social, and environmental factors. The paper aims to test the hypothesis positing a statistically significant correlation between the net migration index and the perceptions of a country's brand by external stakeholders. The study applies the ANOVA test to check the research hypothesis. The object of investigation is EU countries for 2000 to 2020. The ANOVA testing results highlight the significant influence of a country's brand on migration processes, serving as either a catalyst or inhibitor. The study emphasizes the need to align national migration policies with effective national branding strategies to capitalize on the positive image of countries and attract intellectual capital. Policymakers should recognize the significant impact of a country's brand perception on migration patterns and consider sustainable practices to enhance overall attractiveness. Implications for Central European audience: For the Central European audience, the study suggests that fostering a positive national brand is crucial in attracting skilled migrants and intellectual capital. Policymakers in Central European countries should consider integrating branding strategies into their migration policies to enhance global competitiveness and address demographic challenges through the attraction of qualified professionals.
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