/library/oar/handle/123456789/28537 2025-11-09T21:54:01Z /library/oar/handle/123456789/28780 Title: An evaluation of policies for fiscal and external sustainability during the recent Greek economic crisis Authors: Chronis, Panagiotis; Zombanakis, George A. Abstract: The scope of this note is to point out that high growth rates must be accompanied by current account surpluses financing the internal debt service as a necessary and sufficient condition for a debt-reduction strategy. The recipe is applied in the case of Greece which, looking back at the pre-crisis period, has been experiencing substantial consumptionled growth following extensive foreign borrowing. 2016-01-01T00:00:00Z /library/oar/handle/123456789/28778 Title: Model of innovation-oriented state economic policy Authors: Menshchikova, Vera I.; Sayapin, Aleksey V. Abstract: Among all the tendencies, characterizing major lines of development of the modern global economy, the tendency of national states towards strengthening of social and economic interdependence and extension of their economic relations is gradually moving to the foreground. This can be observed in the boost of volume and sophistication of nomenclature of the international exchange of goods and services between countries, as well as the extension of the international division of labour, and subsequently – acceleration of development of international cooperative production, increase of interdependence between national economies and their integration. Due to this, national economy may develop effectively only by dynamic interaction with the world market of goods and services. Taking high international rivalry into account, innovation activity serves as one of the most powerful and effective instruments of supporting and maximizing the competitive capability of enterprises as individual ones and national economy as a whole. To encourage innovation activity of enterprises, an efficient model of innovation-oriented state economic policy is needed. 2016-01-01T00:00:00Z /library/oar/handle/123456789/28777 Title: Innovational mechanism of implementation of cluster initiatives in business Authors: Frank, Evgeny V.; Mashevskaya, Oksana V.; Ermolina, Lilia V. Abstract: The authors view the problems of developing countries and create innovational organizational and managerial mechanism of clustering, aimed at solving these problems and adapted for provision of sustainable regional development in view of clustering. As a result of the research, the authors come to the conclusion that realization of potential of clustering in the increase of competitiveness of regional economy can be achieved by means of formation of complex mechanism of management of regional socio-economic development. That’s why, in order to receive maximum profit from clustering, innovational organizational & managerial mechanism of realization of cluster initiatives in business should be based on formation of regional innovational clusters as a part of complex mechanism of management of regional development. The mechanism that is offered in the article aims at solving the problems of developing countries in the sphere of clustering by means of coordination of actions of regional authorities and members of cluster entities. Cooperation and interaction of members of cluster entity and regional authorities are oriented at the increase of efficiency of cluster functioning and achievement of goals of regional development in economic, social, and ecological spheres. 2016-01-01T00:00:00Z /library/oar/handle/123456789/28776 Title: The foreign exchange exposure of domestic companies in Eurozone : case of the Baltic states Authors: Rupeika-Apoga, Ramona; Nedovis, Roberts Abstract: In this paper we are looking for answers: are domestic companies operating in small market economies such as the Baltics with little or no direct foreign involvement also at risk, taking into account that our companies mainly as a mean of exchange are using euro. The aim of this study is to examine the foreign exchange rate exposure of domestic corporations in the Baltic States. The study shows that companies in the Baltic States tend not to manage their foreign exchange risk properly and some of the companies are thus exposed to significant losses due to fluctuations in currency exchange rates. The VaR estimates are proposed and evaluated as a method to measure the position that is necessary to hedge. 2016-01-01T00:00:00Z