Template-Type: ReDIF-Article 1.0 Author-Name: Serhiy Lyeonov Author-X-Name-First: Serhiy Author-X-Name-Last: Lyeonov Author-Name: Tetyana Vasilyeva Author-X-Name-First: Tetyana Author-X-Name-Last: Vasilyeva Author-Name: Yuriy Bilan Author-X-Name-First: Yuriy Author-X-Name-Last: Bilan Author-Name: Kseniya Bagmet Author-X-Name-First: Kseniya Author-X-Name-Last: Bagmet Title: Convergence of the institutional quality of the social sector: the path to inclusive growth Abstract: The paper uses concepts of the conditional and unconditional β-convergence in order to answer the question of whether there is a convergence in the institutional quality of the social sector between countries. Two groups of indicators for institutional quality of the social sector are used: the first indicator is the institutional quality index of social sector (QISS) as measure of quality of formal institutions; the second group includes indices of social development (ISD), which are used as quality indicators for development of informal social institutions. The regression results that both conditional and unconditional convergence of the institutional quality of the social sector, according to the indicator QISS has not been approved yet. It was found that there was an unconditional convergence by the social institutes Intergroup Cohesion, divergence by the institutions gender equality. Informal social institutions revealed are significantly influenced by voice and accountability, rule of law, control of corruption. Journal: Int. J. of Trade and Global Markets Pages: 272-291 Issue: 3 Volume: 14 Year: 2021 Keywords: convergence; institutional quality of the social sector; social capital; inclusive growth; β-convergence; unconditional and conditional convergence; informal social institutions. File-URL: http://www.inderscience.com/link.php?id=115712 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:272-291 Template-Type: ReDIF-Article 1.0 Author-Name: Sergei V. Shkodinsky Author-X-Name-First: Sergei V. Author-X-Name-Last: Shkodinsky Author-Name: Olga V. Titova Author-X-Name-First: Olga V. Author-X-Name-Last: Titova Author-Name: Elena A. Sulimova Author-X-Name-First: Elena A. Author-X-Name-Last: Sulimova Author-Name: Oleg G. Karpovich Author-X-Name-First: Oleg G. Author-X-Name-Last: Karpovich Title: Pleasure economy vs. industrial economy in developing countries in Industry 4.0 Abstract: The purpose of the paper is to develop a scientific concept of using transition to Industry 4.0 as a mechanism of formation and development of the pleasure economy for stimulating the sustainable development and increase of quality of life in developing countries. The authors determine multiple regression dependence of the index of application of technologies of Industry 4.0 and the green economy index on the sectorial structure of GDP according to the World Bank and determine the optimal share of each sphere that is necessary for achieving the target value of the index of application of technologies of Industry 4.0 and the green economy index. The authors prove that if state interference with Industry 4.0 is insufficient, this will strengthen their industrial specialisation, and the economy will be built on this. This will lead to increase of ecological costs and to decline of quality of life. Journal: Int. J. of Trade and Global Markets Pages: 404-412 Issue: 4/5 Volume: 14 Year: 2021 Keywords: pleasure economy; industrial economy; developing countries; scenarios of economic growth; digital economy; Industry 4.0. File-URL: http://www.inderscience.com/link.php?id=116736 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:404-412 Template-Type: ReDIF-Article 1.0 Author-Name: T.G. Saji Author-X-Name-First: T.G. Author-X-Name-Last: Saji Title: Integration effects in exports induced economic growth: evidence from extended ELG model in BRICS Abstract: This research aims to assess the competitiveness of BRICS nations and to investigate its effects on their export performance and economic growth. Our fixed-effects panel regression procedure proves the competitiveness effects on export performance, where the influence of terms of trade and relative profitability of exports are dominant. The export-led-growth (ELG) model seems to be valid in estimating BRICS growth and the inclusion of inward foreign direct investment (FDI) and real effective exchange rate (REER) variables in the model as additional predictors enhance the robustness in forecasting. The study suggests that the multifaceted and interlinked dimensions of competitiveness are crucial to further enhancement in competitiveness and to ensure the even spread of growth and development in the partnership. Journal: Int. J. of Trade and Global Markets Pages: 304-324 Issue: 3 Volume: 14 Year: 2021 Keywords: BRICS; Brazil; Russia; India; China; and South Africa; ELG model; competitiveness; panel regression; foreign direct investments. File-URL: http://www.inderscience.com/link.php?id=115713 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:304-324 Template-Type: ReDIF-Article 1.0 Author-Name: Veronika V. Yankovskaya Author-X-Name-First: Veronika V. Author-X-Name-Last: Yankovskaya Author-Name: Kirena G. Kelina Author-X-Name-First: Kirena G. Author-X-Name-Last: Kelina Author-Name: Yuliya V. Chutcheva Author-X-Name-First: Yuliya V. Author-X-Name-Last: Chutcheva Author-Name: Alexander N. Alekseev Author-X-Name-First: Alexander N. Author-X-Name-Last: Alekseev Title: The consumer economy and the pleasure economy: similarities and differences in developing countries in Industry 4.0 Abstract: The purpose of the paper is to study the perspectives of harmonisation of development of the consumer economy and the pleasure economy in Industry 4.0. The authors use the method of building regression models. The research objects are selected according to the criterion of availability of statistical data, according to classification of developing countries that is used by the IMF. The 2019 data are used. The authors substantiate the specifics of the socio-economic environment in developing countries, which distorts the influence of the consumer economy on the pleasure economy, up to even reverse (negative) influence. The result of the research is development of the algorithm of program-targeted management of the pleasure economy in developing countries in Industry 4.0, which is a theoretical basis for developing national concepts of the pleasure economy management in Industry 4.0. Journal: Int. J. of Trade and Global Markets Pages: 507-515 Issue: 4/5 Volume: 14 Year: 2021 Keywords: consumer economy; pleasure economy; developing countries; Industry 4.0; socio-economic environment; population's happiness; socio-cultural factors; harmonisation; social advantages; social adaptation. File-URL: http://www.inderscience.com/link.php?id=116737 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:507-515 Template-Type: ReDIF-Article 1.0 Author-Name: Soha El Achi Author-X-Name-First: Soha El Author-X-Name-Last: Achi Author-Name: Bassem E. Maamari Author-X-Name-First: Bassem E. Author-X-Name-Last: Maamari Title: The mediating effect of coaching acceptance between employees' creativity, motivation, commitment and OCB on performance Abstract: Purpose - The aim of this study is to examine the effect of employees' creativity, motivation, commitment and organisational citizenship behaviour (OCB) on the acceptance of coaching and therefore employees' performance in the Lebanese economic sector. The authors will study the attitude of employees toward the integration of coaching in their firms while exploring the degree to which do employees' perception varies depending on creativity, motivation, commitment and OCB. Methodology - A survey data collection tool is adopted applying a quantitative, transversal analysis to gather information from a sample of 567 employees regarding the effect of creativity, motivation, commitment and OCB on coaching acceptance. A linear regression analysis is applied to test the emerged hypothesis. Findings - Creativity, motivation, commitment and OCB are correlated to coaching acceptance and consequently performance enhancement where the relationships proved to be significant yet weak. Moreover, OCB seems to have the main role in enhancing employees coaching acceptance. Journal: Int. J. of Trade and Global Markets Pages: 225-246 Issue: 3 Volume: 14 Year: 2021 Keywords: human resource practices; coaching; employees' acceptance; performance; support; creativity; motivation; commitment; OCB; organisational citizenship behaviour. File-URL: http://www.inderscience.com/link.php?id=115714 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:225-246 Template-Type: ReDIF-Article 1.0 Author-Name: Viktor I. Dobrosotskiy Author-X-Name-First: Viktor I. Author-X-Name-Last: Dobrosotskiy Author-Name: Galina N. Semenova Author-X-Name-First: Galina N. Author-X-Name-Last: Semenova Author-Name: Liliya A. Kripakova Author-X-Name-First: Liliya A. Author-X-Name-Last: Kripakova Title: The culture of digital society and the economy of pleasure: a new paradigm of socio-economic progress of developing countries in Industry 4.0 Abstract: The purpose of the paper is to study the influence of culture of digital society in the pleasure economy in developing countries and to determine a new paradigm of their socio-economic progress in Industry 4.0. The authors substantiate the specific features of socio-economic progress of developing countries in Industry 4.0, caused by the specifics of the culture of digital society and its contradictory influence on the pleasure economy. The authors determine a new paradigm of socio-economic progress of developing countries in Industry 4.0, which is based not on the linear (as in developed countries) but on the cyclic algorithm. The role of the state consists not in stimulating technological progress but in adapting culture to a new - digital - context, and in overcoming the contradiction of digital society. This causes high complexity of development of the pleasure economy in Industry 4.0 in developing countries and the necessity to pay attention to the culture of digital society during regulation of this process. Journal: Int. J. of Trade and Global Markets Pages: 432-440 Issue: 4/5 Volume: 14 Year: 2021 Keywords: culture; digital society; pleasure economy; paradigm of socio-economic progress; developing countries; Industry 4.0; automatisation of labour; e-government; online trade; cyber security. File-URL: http://www.inderscience.com/link.php?id=116738 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:432-440 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimir S. Osipov Author-X-Name-First: Vladimir S. Author-X-Name-Last: Osipov Author-Name: Elena I. Larionova Author-X-Name-First: Elena I. Author-X-Name-Last: Larionova Author-Name: Aleksandr V. Sigarev Author-X-Name-First: Aleksandr V. Author-X-Name-Last: Sigarev Author-Name: Vitalii V. Mishchenko Author-X-Name-First: Vitalii V. Author-X-Name-Last: Mishchenko Title: The key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0 Abstract: The purpose of the paper is to determine the key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0. The research is performed by the example of modern Russia as a typical developing country. It is shown that developing countries do not achieve unification of the types of economic activities as to the criterion of their contribution into creation of the pleasure economy in Industry 4.0. The authors distinguish five key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0: service sphere, industry, agriculture, science and education, and telecommunications. The authors also substantiate that provision of significant contribution of Industry 4.0 into formation of the pleasure economy in Russia by raising the satisfaction with labour for employees requires serious transformation of the economy's sectorial structure. Journal: Int. J. of Trade and Global Markets Pages: 413-422 Issue: 4/5 Volume: 14 Year: 2021 Keywords: types of economic activities; sectorial structure of economy; economy of pleasure; developing countries; Industry 4.0; digitisation; digital economy. File-URL: http://www.inderscience.com/link.php?id=116739 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:413-422 Template-Type: ReDIF-Article 1.0 Author-Name: Alla E. Kalinina Author-X-Name-First: Alla E. Author-X-Name-Last: Kalinina Author-Name: Irina A. Elkhina Author-X-Name-First: Irina A. Author-X-Name-Last: Elkhina Author-Name: Marina E. Buyanova Author-X-Name-First: Marina E. Author-X-Name-Last: Buyanova Title: Convergent technologies as a factor in the formation of a new technological mode and structural changes: contribution to the formation of a pleasure economy Abstract: The authors determine the essence and perform a review of convergent technologies: nanotechnologies, biotechnologies, information technologies and cognitive technologies; they present characteristics of NBIC technologies. Convergent technologies are treated as factor in the formation of a new technological mode and structural changes. It is justified that as a result of technology convergence automation of all economic activity becomes widely accessible and used. This is instrumental in easing social tension and providing additional opportunities to enjoy business activities. Business processes that are routine and unattractive for a man, are being automated, while a man gets more free time and the ability to unlock his/her creativity. The sixth technological mode is currently being formed in contemporary society, which opens up opportunities for total automation and securing the functions of a manager and an entrepreneur for a man, while the labour function will be automated. This will maximise the pleasure from professional activity. Journal: Int. J. of Trade and Global Markets Pages: 390-403 Issue: 4/5 Volume: 14 Year: 2021 Keywords: convergent technologies; NBICS-technologies; convergent technology structure; technological mode; structural changes; structural shifts; pleasure economy. File-URL: http://www.inderscience.com/link.php?id=116740 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:390-403 Template-Type: ReDIF-Article 1.0 Author-Name: Syed Yusuf Saadat Author-X-Name-First: Syed Yusuf Author-X-Name-Last: Saadat Title: Potential trade vulnerability of Bangladesh: an exploratory analysis Abstract: Bangladesh's integration in the global economy has hitherto proven to be an important force behind its economic growth. However, exclusively trade dependent growth is also trade vulnerable growth. This paper explores the factors that may potentially affect the trade vulnerability of Bangladesh. Results of the bivariate non-parametric local linear kernel regression estimation reveal that the minimum wage of readymade garment workers, manufacturing cost, utilities cost, crude oil prices, and climate change are positively related to trade volatility, while improved political stability is negatively related to trade volatility. Multivariate kernel regressions with composite indicators show that macroeconomic factors, such as exchange rate, foreign exchange reserves and budget balance, have a statistically significant impact on the trade volatility of Bangladesh. In view of these preliminary results, a number of policy recommendations are suggested to deal with the short run and long run trade vulnerability of Bangladesh. Journal: Int. J. of Trade and Global Markets Pages: 247-271 Issue: 3 Volume: 14 Year: 2021 Keywords: trade vulnerability; local linear regression; composite factors; least developed country; Bangladesh. File-URL: http://www.inderscience.com/link.php?id=115717 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:247-271 Template-Type: ReDIF-Article 1.0 Author-Name: Alla E. Kalinina Author-X-Name-First: Alla E. Author-X-Name-Last: Kalinina Author-Name: Irina A. Elkhina Author-X-Name-First: Irina A. Author-X-Name-Last: Elkhina Author-Name: Marina E. Buyanova Author-X-Name-First: Marina E. Author-X-Name-Last: Buyanova Title: Managerial paradigm 'management for pleasure' as a result of technological development Abstract: The authors analyse the changes of the managerial paradigm as a result of technological development and study the structure of the 5th and 6th technological modes. Also, the risks and socio-economic consequences of development of convergent technologies are determined. It is concluded that as a result of economy's transformation and emergence of new technologies new structural changes appear - which, in their turn, are a reason of appearance of a range of new spheres, structural interconnections between the system's elements, causing new qualities and methods of management and goals and functions of management and development, which predetermines structural shifts in development of economy at the macro-level. Improvement and expansion of the possibilities for automatisation of management based on information % communication and intellectual technologies as a result of technological development stimulate the formation and establishment of the managerial paradigm 'management for pleasure'. Journal: Int. J. of Trade and Global Markets Pages: 349-359 Issue: 4/5 Volume: 14 Year: 2021 Keywords: managerial paradigm; management for pleasure; technological development; convergent technologies; NBICS-technologies; technological mode; structural changes; structural shifts; pleasure economy. File-URL: http://www.inderscience.com/link.php?id=116741 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:349-359 Template-Type: ReDIF-Article 1.0 Author-Name: T.K. Dhaneesh Kumar Author-X-Name-First: T.K. Dhaneesh Author-X-Name-Last: Kumar Author-Name: B.G. Poornima Author-X-Name-First: B.G. Author-X-Name-Last: Poornima Author-Name: P.K. Sudarsan Author-X-Name-First: P.K. Author-X-Name-Last: Sudarsan Title: Exchange rate and its impact on India's trade with its major trading partners: a pooled mean group approach Abstract: The study examines short-run and long-run impact of exchange rate on India's export and import with its select trading partners for a period from 1993Q1 to 2019Q3. The study employs panel cointegration and pooled mean group (PMG) estimation method. The results establish the presence of long-run relationship among exports, imports, exchange rate, GDP of India and its trading partners. Further, in the long-run and short run, the exchange rate has impact on exports but not on India's imports. The result reveals that there is a significant impact of exchange rate for Indias export to the countries like Belgium, China, Japan, Germany, Switzerland, UAE, USA and UK. However, the exchange rate depreciation has significant effects only on India's imports from China, UAE and USA. Also, the results of Marshal-Lerner condition indicate depreciation of Indian rupee increases India's exports. Journal: Int. J. of Trade and Global Markets Pages: 292-303 Issue: 3 Volume: 14 Year: 2021 Keywords: cointegration; exchange rate; exports; GDP; pooled mean group estimation; imports; trading partners; Marshal-Lerner condition; depreciation. File-URL: http://www.inderscience.com/link.php?id=115718 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:292-303 Template-Type: ReDIF-Article 1.0 Author-Name: Patrice Rélouendé Zidouemba Author-X-Name-First: Patrice Rélouendé Author-X-Name-Last: Zidouemba Author-Name: Mustapha Sadni Jallab Author-X-Name-First: Mustapha Sadni Author-X-Name-Last: Jallab Title: The African Continental Free Trade Area and the trade facilitation agreement: some regional macroeconomic impacts Abstract: This contribution analyses the potential impacts of the African Continental Free Trade Area (AfCFTA) and the positive role played by the Trade Facilitation Agreement (TFA) to augment its impact. We provide empirical evidence that expected trade flows and real GDP growth from the AfCFTA are relatively significant but are amplified by the TFA. In addition, the impacts on trade and economic growth are stronger when the TFA is extended to trade flows with non-African regions. More interestingly, all African regions experience an increase in exports of industrial and intermediate goods, which constitutes a catalyst for industrialisation and structural economic transformation. Journal: Int. J. of Trade and Global Markets Pages: 325-337 Issue: 3 Volume: 14 Year: 2021 Keywords: AfCFTA; African Continental Free Trade Area; TFA; Trade Facilitation Agreement; economic diversification; industrialisation; structural transformation. File-URL: http://www.inderscience.com/link.php?id=115723 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:325-337 Template-Type: ReDIF-Article 1.0 Author-Name: Pooja Kansra Author-X-Name-First: Pooja Author-X-Name-Last: Kansra Author-Name: Pawan Kumar Author-X-Name-First: Pawan Author-X-Name-Last: Kumar Author-Name: Sushanta Kumar Mahapatra Author-X-Name-First: Sushanta Kumar Author-X-Name-Last: Mahapatra Author-Name: Sumit Oberoi Author-X-Name-First: Sumit Author-X-Name-Last: Oberoi Title: Economic concert, cooperation and trade specialisation of India in comparison with the rest of BRICS nations Abstract: Economic integration is an absolute necessity for sustainable economic growth and helps economies to focus on issues that encourage trade by reducing the incompetence and inability of the nation. The study aims to analyse economic performance, trade intensity, and trade specialisation of India in comparison with the rest of BRICS nations by using the 6-digit level of harmonised standard (HS) product clusters. The data was analysed using trade intensity index (TII) and Lafay Index (LFI). The analysis was carried under six distinctive industry levels as proposed by Basu and Das. Ex-post results of economic cooperation between India and BRICS nations reveal that, as far as trade is concerned BRICS nations specifically China has gained more export surplus than India. Journal: Int. J. of Trade and Global Markets Pages: 580-602 Issue: 6 Volume: 14 Year: 2021 Keywords: trade specialisation; HS; harmonised standard; BRICS; Lafay index; TII; trade intensity index; economic performance; cooperation; economic integration; EII; export intensity index; import intensity. File-URL: http://www.inderscience.com/link.php?id=118898 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:580-602 Template-Type: ReDIF-Article 1.0 Author-Name: Liliana Inggrit Wijaya Author-X-Name-First: Liliana Inggrit Author-X-Name-Last: Wijaya Author-Name: I. Made Narsa Author-X-Name-First: I. Made Author-X-Name-Last: Narsa Author-Name: Andry Irwanto Author-X-Name-First: Andry Author-X-Name-Last: Irwanto Author-Name: Rahmat Setiawan Author-X-Name-First: Rahmat Author-X-Name-Last: Setiawan Title: Are investors' desires for dividend increases stronger than dividend initiation? Abstract: This study aims to explore whether information asymmetry premium (IAP) as the foundation of the investors' desire in the dividend increases decision is stronger than the dividend initiation decision. This study finds that IAP can significantly complement the dividend increases decisions and substitute dividend premium for dividend initiation. The results of the study support Li and Lie (2006) and Chazi et al. (2018), who fleshed out Baker and Wurgler (2004b). The findings of this study show that the investor's desire towards dividend increases reflects investor sentiment on dividends, explained through the level of information asymmetry between dividend payers and non-payers. Further analysis shows that irrational investor behaviour in expecting dividend increases to be paid continuously is significant compared to dividend initiation. This research contributes to behavioural finance research in bonding dividend catering incentives and dividend signaling theory. Journal: Int. J. of Trade and Global Markets Pages: 559-579 Issue: 6 Volume: 14 Year: 2021 Keywords: dividend increases; dividend initiation; IAP; information asymmetry premium; dividend premium; investors' desire; behavioural finance; dividend catering incentives; dividend signaling theory. File-URL: http://www.inderscience.com/link.php?id=118900 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:559-579 Template-Type: ReDIF-Article 1.0 Author-Name: Svetlana Balashova Author-X-Name-First: Svetlana Author-X-Name-Last: Balashova Title: Total factor productivity growth and oil price volatility Abstract: This paper investigates the links between oil price volatility and total factor productivity (TFP) growth using various econometric techniques. Our main result is that the volatility of oil prices has a negative and significant effect on TFP growth for the global economy and for mature economies. We assume that uncertainty in commodity markets reduces risky investments and inhibits innovation and technological progress. Nowadays, COVID19 and the oil price war between the top crude-oil producers have caused volatility in the oil market. Our results suggest that this will affect TFP during the next few years, even if the global economy is able to recover soon. Journal: Int. J. of Trade and Global Markets Pages: 548-558 Issue: 6 Volume: 14 Year: 2021 Keywords: TFP; total factor productivity; economic growth; oil price; volatility; GARCH-M model; Granger causality; VAR model. File-URL: http://www.inderscience.com/link.php?id=118901 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:548-558 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Hanif Author-X-Name-First: Muhammad Author-X-Name-Last: Hanif Title: Community size and international trade in OIC-region Abstract: This study analyses the international trade in the Organization of Islamic Cooperation (OIC) region, covering exports, imports, and balance of trade (BoT) from 2007 to 2016. The analysis is conducted by various lenses, including whole OIC as a unit, objectively classified economic zones, and economic cooperation unions. Findings suggest that OIC-region's contribution to global GDP and international trade is significantly lesser than the size of the community. Performance in international trade and BoT is good in the initial years of analyses; however, declines in the final years of the review period. Performance of two economic zones (South % Southeast Asia, and Africa) of OIC-region is quite unsatisfactory, based on the size of the communities. Middle Eastern zone performs well, relatively, within the OIC region. Intra-OIC trade is significantly lesser than the potential. OIC-region needs to capitalise on abundant Human and natural resources to achieve higher economic growth and exports. Journal: Int. J. of Trade and Global Markets Pages: 620-643 Issue: 6 Volume: 14 Year: 2021 Keywords: international trade; exports; imports; OIC; Organisation of Islamic Cooperation; Middle East; South % Southeast Asia; Central Asia; Africa. File-URL: http://www.inderscience.com/link.php?id=118904 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:620-643 Template-Type: ReDIF-Article 1.0 Author-Name: Wissem Belhadj Author-X-Name-First: Wissem Author-X-Name-Last: Belhadj Author-Name: Mohamed Adel Dhif Author-X-Name-First: Mohamed Adel Author-X-Name-Last: Dhif Author-Name: Abdessalem Abbassi Author-X-Name-First: Abdessalem Author-X-Name-Last: Abbassi Title: Effects of openness in services sectors on Tunisian economy under the DCFTA with the EU: border liberalisation and investment liberalisation Abstract: The objective of this paper is to assess the impact of services liberalisation on the Tunisian economy in the context of a Deep and Comprehensive Free Trade Agreement with the European Union. An intertemporal dynamic CGE model with perfect foresight is developed to compare some alternative trade policy simulations. The main findings of this study are that freeing up service sectors induces small welfare gains and entails a significant decrease in the unemployment rate; whereas, the effect on the labour demand is fairly small. Moreover, lowering NTMs in services has a positive impact on the level of imports from the European Union countries. The growth of imported services is less important when assuming further liberalisation of investment. The simulations results reveal also that the impact of services liberalisation on production and exports depends essentially on the initial level of NTMs for these services. Journal: Int. J. of Trade and Global Markets Pages: 525-547 Issue: 6 Volume: 14 Year: 2021 Keywords: openness in services sectors; border liberalisation; investment liberalisation; Tunisia; DCFTA; deep and comprehensive free trade agreement; intertemporal dynamic CGE model. File-URL: http://www.inderscience.com/link.php?id=118905 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:525-547 Template-Type: ReDIF-Article 1.0 Author-Name: Fabian Maximilian Johannes Teichmann Author-X-Name-First: Fabian Maximilian Johannes Author-X-Name-Last: Teichmann Author-Name: Marie-Christin Falker Author-X-Name-First: Marie-Christin Author-X-Name-Last: Falker Title: Circumvention of financial sanctions via Dubai's trade and commerce: the case of Iran Abstract: For over 15 years, Iran has been one of the most heavily sanctioned countries due to its uranium enrichment policy. Since 2018, political tension between Iran and the West has increased significantly with Iran seemingly determined to adhere to its nuclear policy. This paper demonstrates that one main reason for the ineffectiveness of Western financial sanctions against Iranian public officials is the country's proximity to Dubai, which is used to circumvent economic and financial sanctions. To investigate the circumvention of financial sanctions via Dubai, a qualitative study with 10 presumed white-collar criminals and 18 compliance officials was conducted. Based on interviews with both groups, concrete methods for the circumvention of financial sanctions were reconstructed. The findings were tested quantitatively using a questionnaire that was distributed to 1,200 compliance officers. It was found that current financial sanctions against Iranian public officials can be circumvented relatively easily via Dubai's trade and commerce. Journal: Int. J. of Trade and Global Markets Pages: 644-659 Issue: 6 Volume: 14 Year: 2021 Keywords: financial sanctions; sanctions against Iran; Dubai; free trade zones; compliance; corruption; Dubai trade; Iran trade. File-URL: http://www.inderscience.com/link.php?id=118906 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:644-659 Template-Type: ReDIF-Article 1.0 Author-Name: Mohammed T. Nuseir Author-X-Name-First: Mohammed T. Author-X-Name-Last: Nuseir Author-Name: Ghaleb A. El Refae Author-X-Name-First: Ghaleb A. El Author-X-Name-Last: Refae Title: Marketing efficiency of energy-efficient electrical home appliances in the Gulf Cooperation Council (GCC) region Abstract: This paper shows how individuals across the Gulf Cooperation Council (GCC) region perceive energy efficiency in their homes, precisely what they view as the important barriers to home energy efficiency and how the energy efficiency of home electrical appliances can be marketed to them. This quantitative research surveyed 505 participants from three main GCC countries, namely the United Arab Emirates, the Kingdom of Saudi Arabia, and Kuwait. Although people are becoming more aware of the importance of energy-efficient technologies and home electrical appliances, some important barriers make it difficult for them to become more responsible members of society. To control the harmful effects of energy inefficiency on the environment, it is important that housing authorities and marketers both work to highlight the importance of conserving energy. The study has used SEM-PLS to examine direct and indirect results. The findings of the study have provided support to the hypothesised results. Journal: Int. J. of Trade and Global Markets Pages: 603-619 Issue: 6 Volume: 14 Year: 2021 Keywords: efficiency; home electrical appliances; marketing; GCC; Gulf Cooperation Council; marketing efficiency; energy-efficient; environment. File-URL: http://www.inderscience.com/link.php?id=118909 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:603-619 Template-Type: ReDIF-Article 1.0 Author-Name: Arianis Chan Author-X-Name-First: Arianis Author-X-Name-Last: Chan Author-Name: Sam'un Jaja Raharja Author-X-Name-First: Sam'un Jaja Author-X-Name-Last: Raharja Title: Analysis of factors that influence consumer purchasing decisions on creative industries in Bandung City, Indonesia Abstract: This study aims to analyse the influence of cultural, social, personal and psychological factors on consumer purchasing decisions on products of creative industries in Bandung City. This study uses quantitative methods and statistical analysis. The population of this study comprises consumers who bought creative products, such as culinary, fashion, crafts, design and publishing and printing products, for a minimum of two times. The sample consists of 216 people identified via simple random sampling based on central limit theorem. Results reveal that personal and psychological factors significantly influence consumers' decisions to buy products from the creative industries. By contrast, cultural and social factors exert no significant effect. This study suggests that companies in the creative industries improve marketing strategies related to consumers' lifestyle, personality, income, work and psychological factors. Journal: Int. J. of Trade and Global Markets Pages: 213-223 Issue: 2 Volume: 14 Year: 2021 Keywords: purchasing decisions; personal factors; psychological factors; cultural factors; creative industries; Bandung City. File-URL: http://www.inderscience.com/link.php?id=114055 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:213-223 Template-Type: ReDIF-Article 1.0 Author-Name: Phuong V. Nguyen Author-X-Name-First: Phuong V. Author-X-Name-Last: Nguyen Author-Name: Dong Mong Nguyen Author-X-Name-First: Dong Mong Author-X-Name-Last: Nguyen Author-Name: Thi Vu Anh Trinh Author-X-Name-First: Thi Vu Anh Author-X-Name-Last: Trinh Author-Name: Khoa T. Tran Author-X-Name-First: Khoa T. Author-X-Name-Last: Tran Title: The roles of perception, transparency, trust and perceived social equity in enhancing citizen satisfaction in the public sector Abstract: This paper prioritises the role of transparency in shaping citizen perceptions, trust, and social equity to enhance citizen satisfaction with public sector performance. An influential contribution of the abovementioned antecedents to citizen satisfaction is supported by the results of structural equation modelling. Perceived performance and social equity are identified as new mediators of the relationship between transparency and social equity, in addition to a negative moderating effect of citizen trust. By examining critical issues of reform in Ho Chi Minh City, Vietnam, the findings provide insights into the public sector and suggest managerial implications for fostering citizen satisfaction. Journal: Int. J. of Trade and Global Markets Pages: 176-186 Issue: 2 Volume: 14 Year: 2021 Keywords: transparency; social equity; trust; satisfaction; public sector performance. File-URL: http://www.inderscience.com/link.php?id=114057 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:176-186 Template-Type: ReDIF-Article 1.0 Author-Name: Supakorn Chaengkham Author-X-Name-First: Supakorn Author-X-Name-Last: Chaengkham Author-Name: Suthin Wianwiwat Author-X-Name-First: Suthin Author-X-Name-Last: Wianwiwat Title: The impacts of macroeconomic and financial indicators on stock market index: evidence from Thailand Abstract: Market capitalisation and foreign investor transactions of the Thai Stock market have expanded significantly over the past 10 years. This research paper employed the autoregressive distributed lag (ARDL) approach to examine the impacts of key macroeconomic and financial indicators on the stock market of Thailand. We applied two models in this study. The first model is based on macroeconomic indicators such as broad money supply, consumer price index (CPI), manufacturing production index (MPI), exchange rate, and exports. The second model is based on financial and commodity indicators such as volatility index, price-to-earnings ratio, gold price index, and oil price index (OIL). Consistent with theory, the results indicate that the Thai stock market index has a long-run relationship with the selected indicators such as exchange rate, broad money supply, CPI, price-to-earnings ratio, volatility index, and OIL. Therefore, the long-run coefficients estimated in this study could be utilised for managing long-term investments. Journal: Int. J. of Trade and Global Markets Pages: 197-205 Issue: 2 Volume: 14 Year: 2021 Keywords: ARDL; autoregressive distributed lag; cointegration; error correction; financial indicators; macroeconomic indicators; Thai stock market; stock index. File-URL: http://www.inderscience.com/link.php?id=114058 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:197-205 Template-Type: ReDIF-Article 1.0 Author-Name: Sunny Sun-A Kim Author-X-Name-First: Sunny Sun-A Author-X-Name-Last: Kim Author-Name: Young-Min Lee Author-X-Name-First: Young-Min Author-X-Name-Last: Lee Title: Vocational education and training for older workers in aged countries: a comparative study of Korea, Spain, and the UK Abstract: This study compares Korean vocational educational and training (VET) policies targeting older workers with those of European countries that have been traditionally concerned about the socio-economic effect of ageing, and through this comparison to find ways to improve policies for older workers in Korea. The analysis was based on the application of the most similar systems design (MSSD), a method for exploring similarities and differences across cases. The paper concludes with a discussion of the implications for policy development based on the research findings and provides suggestions for improving VET opportunities for older workers in Korea. Journal: Int. J. of Trade and Global Markets Pages: 107-114 Issue: 2 Volume: 14 Year: 2021 Keywords: vocational education and training; the most similar systems design; older workers. File-URL: http://www.inderscience.com/link.php?id=114059 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:107-114 Template-Type: ReDIF-Article 1.0 Author-Name: Aprilia Srikandi Manita Author-X-Name-First: Aprilia Srikandi Author-X-Name-Last: Manita Author-Name: Khoirunurrofik Author-X-Name-First: Author-X-Name-Last: Khoirunurrofik Title: The underground economy and tax potential in developing countries: a comparative study of Indonesia and Russia Abstract: This study compares the underground economies of Indonesia and Russia, on the basis that the two countries are G20 members and are both transitional nations. The study uses the ordinary least squares (OLS) regression with a currency demand approach derived from the difference between a money demand economy in the period 2004-2015. The estimation results of the level of the underground economy compared to per capita GDP in Indonesia from 2004 to 2015 range from 25.76% to 32.53%, with an average of 28.65%, while those of Russia range from 12.74% to 26.19%, with an average of 18.79%. However, there is no empirical evidence that shows a significant impact of the tax amnesty policies in either country, so that the governments are advised to improve their strategies of generating tax revenue by making a follow-up policy with definite legal force. Journal: Int. J. of Trade and Global Markets Pages: 187-196 Issue: 2 Volume: 14 Year: 2021 Keywords: currency demand; underground economy; tax amnesty; sunset policy; tax potency. File-URL: http://www.inderscience.com/link.php?id=114061 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:187-196 Template-Type: ReDIF-Article 1.0 Author-Name: Voramast Limteerakul Author-X-Name-First: Voramast Author-X-Name-Last: Limteerakul Title: The effect of income components and tax on inequality in Thailand under comprehensive income Abstract: This study compares the effects of money income, capital gains, and income tax on inequality in Thailand. The study scope is broadened from money to comprehensive income. Over 1997-2015, labour earnings were the main income source for Thai people. However, the main culprit of persistent inequality was real estate gains due to asset concentration, and asset price appreciation. The redistributive impact of income tax was far less to counteract the force of capital gains due to a small tax base and tax deductions on investment. Government may consider tax on capital gains to bridge the income gap. Journal: Int. J. of Trade and Global Markets Pages: 154-165 Issue: 2 Volume: 14 Year: 2021 Keywords: D31 income and wealth distribution; D33 factor income distribution; D63 inequality; H23 tax redistributive effects; H24 personal income tax. File-URL: http://www.inderscience.com/link.php?id=114062 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:154-165 Template-Type: ReDIF-Article 1.0 Author-Name: Kook Jae Hwang Author-X-Name-First: Kook Jae Author-X-Name-Last: Hwang Author-Name: Pyung Kyung Kang Author-X-Name-First: Pyung Kyung Author-X-Name-Last: Kang Author-Name: Dong Jin Jung Author-X-Name-First: Dong Jin Author-X-Name-Last: Jung Title: The association between human resource investments in the internal accounting control system and non-audit fees: evidence from South Korea Abstract: This study empirically examines the relationship between human resource investments in the internal accounting control system (IACS) and firms' non-audit fees. By using hand-collected data on the IACS for firms listed on the Korea Composite Stock Price Index (KOSPI) and Korea Securities Dealers Automated Quotations (KOSDAQ) markets, we find that human resource investments in the IACS are positively associated with firms' nonaudit service fees. Specifically, the findings show that the number of employees working in the IACS positively relates to firms' non-audit fees from the KOSPI and KOSDAQ sample. Our results indicate that this positive association is more prominent for large-sized than small-sized firms and KOSPI than KOSDAQ firms. Journal: Int. J. of Trade and Global Markets Pages: 97-106 Issue: 2 Volume: 14 Year: 2021 Keywords: IACS; internal accounting control system; human resource investment; non-audit fees; internal control; non-audit service; South Korea. File-URL: http://www.inderscience.com/link.php?id=114063 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:97-106 Template-Type: ReDIF-Article 1.0 Author-Name: Erna Maulina Author-X-Name-First: Erna Author-X-Name-Last: Maulina Author-Name: Nenden Kostini Author-X-Name-First: Nenden Author-X-Name-Last: Kostini Author-Name: Margo Purnomo Author-X-Name-First: Margo Author-X-Name-Last: Purnomo Author-Name: Achmad Fajri Febrian Author-X-Name-First: Achmad Fajri Author-X-Name-Last: Febrian Title: The role of women's entrepreneurial orientation to access external financial supports: empirical evidence from the small and medium enterprises (SMEs) in Indonesia using PLS-SEM Abstract: Majority of women entrepreneurs fight with problems in obtaining financial resources. The present research aims to examine how entrepreneurial orientation can be new factors to create the financial capability for women entrepreneurs. Using a sample of 55 women entrepreneurs in the culinary sector the results showed that entrepreneurial orientation will create the financial capability of women entrepreneurs in getting access to financial supports. The results indicate that the ability to manage the finance of women entrepreneurs will increase an economic-wellbeing, and these become even more important during an economic downturn when additional pressures are placed on the household's finances. Journal: Int. J. of Trade and Global Markets Pages: 143-153 Issue: 2 Volume: 14 Year: 2021 Keywords: entrepreneurial orientation; financial capability; women entrepreneurs; SMEs; small and medium enterprises. File-URL: http://www.inderscience.com/link.php?id=114064 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:143-153 Template-Type: ReDIF-Article 1.0 Author-Name: Anisah Firli Author-X-Name-First: Anisah Author-X-Name-Last: Firli Author-Name: Afna Dalilah Author-X-Name-First: Afna Author-X-Name-Last: Dalilah Title: Influence of financial literacy, financial attitude, and parental income on personal financial management behaviour: a case study on the millennial generation in Indonesia Abstract: Personal financial management behaviour is used to observe the financial behaviour of individuals on the basis of psychological factors. This study aimed to examine influential variables, namely, financial literacy, financial attitude, and parental income, and their significance to the personal financial management behaviour of members of the millennial generation. Multiple linear regression was used to analyse questionnaires given to millennial respondents. Results showed that financial literacy and financial attitude had an influence on personal financial management behaviour, whereas parental income did not have an influence on personal financial management behaviour. Journal: Int. J. of Trade and Global Markets Pages: 206-212 Issue: 2 Volume: 14 Year: 2021 Keywords: personal financial management behaviour; financial literacy; financial attitude; parental income. File-URL: http://www.inderscience.com/link.php?id=114066 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:206-212 Template-Type: ReDIF-Article 1.0 Author-Name: M. Nur Ram'dhan Author-X-Name-First: M. Nur Author-X-Name-Last: Ram'dhan Author-Name: Nurdiono Author-X-Name-First: Author-X-Name-Last: Nurdiono Author-Name: Einde Evana Author-X-Name-First: Einde Author-X-Name-Last: Evana Author-Name: Fajar Gustiawaty Dewi Author-X-Name-First: Fajar Gustiawaty Author-X-Name-Last: Dewi Author-Name: Lindrianasari Author-X-Name-First: Author-X-Name-Last: Lindrianasari Title: Implementation of accrual accounting concept in Indonesian government: is it the true concept? Abstract: This study aimed to assess the accrual concept applied by the government, whether it is in accordance with the accrual concept applied to corporations. Accrual-based accounting in the government is a global issue. This study used a conflict-ambiguity model perspective with a combined method, public document analysis, and Inspectorate survey. The study found that there was 1.94% from total receivable general allocation funds (GAFs) that had not been given to regional government. However, in the government's financial statements in Lampung region, there was no record of receivables within the GAF. Journal: Int. J. of Trade and Global Markets Pages: 166-175 Issue: 2 Volume: 14 Year: 2021 Keywords: accrual accounting; government; financial statements; ambiguity-conflict models. File-URL: http://www.inderscience.com/link.php?id=114067 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:166-175 Template-Type: ReDIF-Article 1.0 Author-Name: Maybelle A. Paulino Author-X-Name-First: Maybelle A. Author-X-Name-Last: Paulino Author-Name: Johnny T. Amora Author-X-Name-First: Johnny T. Author-X-Name-Last: Amora Author-Name: Mary Caroline N. Castaño Author-X-Name-First: Mary Caroline N. Author-X-Name-Last: Castaño Title: Is decision-making process a mediator of the relationship between economic factor and international academic destination? Abstract: International students are the bedrocks of the global higher education market. Thus, worldwide, higher education institutions (HEIs) focus most international marketing efforts on understanding the complexities surrounding this student market. Recent studies on international higher education reveal the choices made by this student cohort and a wide variety of factors influencing such selections. This present study focuses on a student decision that is made under a set of options. Using structural equation modelling (SEM), this study aims to investigate the relationships of economic factor and decision-making process with the choice of international academic destination. Results, conclusions, and recommendations are discussed. Journal: Int. J. of Trade and Global Markets Pages: 115-124 Issue: 2 Volume: 14 Year: 2021 Keywords: economic factor; the decision-making process; choice of international academic destination; international students; SEM; structural equation modelling; student market; international education; higher education; HEIs; higher education institutions. File-URL: http://www.inderscience.com/link.php?id=114071 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:115-124 Template-Type: ReDIF-Article 1.0 Author-Name: Muhardi Muhardi Author-X-Name-First: Muhardi Author-X-Name-Last: Muhardi Author-Name: Cici Cintyawati Author-X-Name-First: Cici Author-X-Name-Last: Cintyawati Author-Name: Nurdin Nurdin Author-X-Name-First: Nurdin Author-X-Name-Last: Nurdin Author-Name: Aminuddin Irfani Author-X-Name-First: Aminuddin Author-X-Name-Last: Irfani Title: Knowledge sharing and shadaqah economy schemes: a better future for Indonesia's economy Abstract: Poverty and lower levels of education remain major obstacles to social enhancement in Indonesia. Our research addresses these problems by aiming to bring about a collaboration between Islamic economic schemes such as 'shadaqah economy' and 'knowledge sharing' in Indonesia's pesantrens. Using a system dynamics model, our findings revealed that the application of shadaqah economy and knowledge sharing schemes can help reduce the poverty levels and increase the educational levels of the people who live in the vicinity of these pesantrens. These schemes are expected to enhance the quality of life of the poor in Indonesia. Journal: Int. J. of Trade and Global Markets Pages: 134-142 Issue: 2 Volume: 14 Year: 2021 Keywords: shadaqah economy; knowledge sharing; social welfare enhancement; poverty alleviation; system dynamics; pesantren; social entrepreneurship. File-URL: http://www.inderscience.com/link.php?id=114072 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:134-142 Template-Type: ReDIF-Article 1.0 Author-Name: Yusriana Yusriana Author-X-Name-First: Yusriana Author-X-Name-Last: Yusriana Author-Name: Dini Turipanam Alamanda Author-X-Name-First: Dini Turipanam Author-X-Name-Last: Alamanda Author-Name: Sutyastie Soemitro Remi Author-X-Name-First: Sutyastie Soemitro Author-X-Name-Last: Remi Title: The profile of Indonesian workers: how education influences their welfare status Abstract: This study aims to assess the effect of education on poverty reduction in Indonesia. Indonesia is chosen as the site of the study for two reasons, namely the relatively high poverty level and massive industrial development, as Indonesia is actively engaged in the international markets. Quantitative methods with descriptive explanations were used to prove the effect of education on poverty in Indonesia. Secondary panel data were taken from Statistics Indonesia from the period 2008 to 2018. Data were then analysed using the ordinary least square (OLS) method. The results show that education with a minimum high school level can reduce poverty. The study revealed that education increased the capability of human resources. Therefore, human resource improvement increased productivity and income, and finally, it reduced poverty. Journal: Int. J. of Trade and Global Markets Pages: 125-133 Issue: 2 Volume: 14 Year: 2021 Keywords: education; human resource; human capital; productivity; international market; welfare; poverty. File-URL: http://www.inderscience.com/link.php?id=114078 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:125-133 Template-Type: ReDIF-Article 1.0 Author-Name: Romanus Osabohien Author-X-Name-First: Romanus Author-X-Name-Last: Osabohien Author-Name: Oluwatoyin Matthew Author-X-Name-First: Oluwatoyin Author-X-Name-Last: Matthew Author-Name: Busayo Aderounmu Author-X-Name-First: Busayo Author-X-Name-Last: Aderounmu Author-Name: Abigail Godwin Author-X-Name-First: Abigail Author-X-Name-Last: Godwin Author-Name: Victoria Okafor Author-X-Name-First: Victoria Author-X-Name-Last: Okafor Title: Economic development and trade outcomes in East African countries: prospects and constraints Abstract: This study employed a panel data analysis from selected East African countries, with the use of fixed and random effects model which was tested using Hausman specification test. The results from the study showed that; trade agreement and foreign direct investment (FDI) have a significant positive effect on East African economy, while trade openness exerts a negative effect as a result of low productivity. Therefore, the study recommended that the government of East African countries should embrace and develop policies in promoting the continental trade agreement and economic integration, in order to raise the level of productivity within the region and the sub-region for sustainable economic development. Journal: Int. J. of Trade and Global Markets Pages: 1-18 Issue: 1 Volume: 14 Year: 2021 Keywords: East Africa; economic development; economic integration; trade openness; trade outcomes. File-URL: http://www.inderscience.com/link.php?id=113341 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:1:p:1-18 Template-Type: ReDIF-Article 1.0 Author-Name: Michael Takudzwa Pasara Author-X-Name-First: Michael Takudzwa Author-X-Name-Last: Pasara Title: A WITS-SMART simulation analysis of trade creation, diversion and welfare effects of the African tripartite region Abstract: The paper employed WITS-SMART simulations to test Jacob Viner's theory of trade creation and diversion effects in the tripartite free trade area (TFTA) signed between COMESA, EAC and SADC. Simulations used standardised 2-digit trade data. The four product classifications employed are raw materials, intermediate, consumer and capital goods whilst the economic sectors are agriculture, industrial and petroleum. Results indicated trade potential trade to be created or diverted, net trade, revenue and overall welfare effects. In total, the tripartite region will have net gains of approximately USD 2.1 trillion per annum. Specifically, the trade in the industrial sector has a 34% potential, intermediate goods 24% whilst agriculture sector will likely contribute 18% to net trade gains. Trade in raw materials and petroleum sector have the least potential contributions of 3% and 1%, respectively. The study recommends promoting the industrial sector to cater for structural changes and sync with the fourth industrial revolution. Journal: Int. J. of Trade and Global Markets Pages: 31-47 Issue: 1 Volume: 14 Year: 2021 Keywords: WITS-SMART simulation; trade creation; trade diversion; welfare effects; revenue effects; economic growth; economic sector. File-URL: http://www.inderscience.com/link.php?id=113344 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:1:p:31-47 Template-Type: ReDIF-Article 1.0 Author-Name: Zeynep Kaplan Author-X-Name-First: Zeynep Author-X-Name-Last: Kaplan Author-Name: Sezen Bozyiğit Author-X-Name-First: Sezen Author-X-Name-Last: Bozyiğit Title: The effect of Turkey's logistics performance on Turkey's foreign trade Abstract: When we consider the top 10 countries of the world by means of their economic sizes, it is obvious that these top-achievers are also the ones getting the greatest shares from global trade. However, Turkey is at 17th rank prior to her economic size, while she is at 26th rank in terms of foreign trade. In order to realise her goal of being within the first 10 countries by means of economic size, Turkey's share from the global trade has to be increased. The main motivation for this study is to reveal the effect of Turkey's logistic performance over foreign trade. So the data of 2007-2016 belonging to 24 countries, having the top shares in Turkey's foreign trade, were used. The results of seven regression analysis show that all logistic performance indicators have a positive effect on Turkey's foreign trade except for service quality. Journal: Int. J. of Trade and Global Markets Pages: 48-61 Issue: 1 Volume: 14 Year: 2021 Keywords: logistics; logistics performance index; foreign trade; gravity model; panel data; Turkey. File-URL: http://www.inderscience.com/link.php?id=113346 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:1:p:48-61 Template-Type: ReDIF-Article 1.0 Author-Name: Wisnu Prajogo Author-X-Name-First: Wisnu Author-X-Name-Last: Prajogo Author-Name: Heni Kusumawati Author-X-Name-First: Heni Author-X-Name-Last: Kusumawati Author-Name: Nikodemus Hans Setiadi Wijaya Author-X-Name-First: Nikodemus Hans Setiadi Author-X-Name-Last: Wijaya Title: The relationship among supportive organisational culture, job satisfaction, employee affective response to organisational change, and organisational cynicism Abstract: This research explores the relationship among supportive organisational culture, employee affective response to organisational change, job satisfaction, and organisational cynicism (employee cynicism to organisational change process). Educators from state-owned and private schools participated in this research. This research has four results. First, supportive organisational culture has positive influence on job satisfaction. Second, supportive organisational culture has no influence on employee affective response to organisational change. Third, job satisfaction has positive influence on employee affective response to organisational change. Fourth, employee affective response to organisational change has negative influence on organisational cynicism. Journal: Int. J. of Trade and Global Markets Pages: 19-30 Issue: 1 Volume: 14 Year: 2021 Keywords: supportive organisational culture; job satisfaction; employee affective response of organisational change; organisational culture; job satisfaction; organisational cynicism. File-URL: http://www.inderscience.com/link.php?id=113347 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:1:p:19-30 Template-Type: ReDIF-Article 1.0 Author-Name: Ibrahim Elbadawi Author-X-Name-First: Ibrahim Author-X-Name-Last: Elbadawi Author-Name: Chahir Zaki Author-X-Name-First: Chahir Author-X-Name-Last: Zaki Title: Exchange rate undervaluation, economic institutions and exports performance: evidence from firm-level data Abstract: Exploiting a unique firm level dataset available for four countries (Egypt, Jordan, Kuwait and Yemen), this paper assesses the role of real exchange rate (RER) undervaluation as a determinant of the quantity of exports (intensive margin) as well as the probability of exporting more products or opening new export destinations (extensive margin) We find that moderate RER up to a certain threshold unconditionally promotes firms' exports at the intensive margin, for all firm sizes and for financially developed or underdeveloped economies alike At the market and product-extensive margins, however, the evidence suggests that the undervaluation export promotion effect is conditional on the size of the firm and confined to medium and large firms only Moreover, RER undervaluation becomes a counter-productive policy instrument for promoting exports at the product-extensive margin in financially developed economies, though it continues to be a viable export strategy for promoting exports at the market-extensive margin. Journal: Int. J. of Trade and Global Markets Pages: 62-93 Issue: 1 Volume: 14 Year: 2021 Keywords: RER; real exchange rate; RER undervaluation; exports; trade margin; financial development; Arab world. File-URL: http://www.inderscience.com/link.php?id=113348 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:1:p:62-93 Template-Type: ReDIF-Article 1.0 Author-Name: Irina V. Gashenko Author-X-Name-First: Irina V. Author-X-Name-Last: Gashenko Author-Name: Irina V. Orobinskaya Author-X-Name-First: Irina V. Author-X-Name-Last: Orobinskaya Author-Name: Yulia S. Zima Author-X-Name-First: Yulia S. Author-X-Name-Last: Zima Author-Name: Tatyana V. Makarenko Author-X-Name-First: Tatyana V. Author-X-Name-Last: Makarenko Title: Liberalisation of taxation as a prerequisite to forming a pleasure economy: special tax regimes, tax holidays and family business taxation Abstract: This research is aimed at identifying the prospects and developing recommendations for the optimisation of liberalisation of taxation as a prerequisite to forming a pleasure economy. The methodologies of this paper include a time-series analysis method (using regression and correlation analysis), as well as a survey method (for the collection of empirical data not available from official statistics). It has been proved that liberalisation of taxation is a prerequisite to forming a pleasure economy. However, the beneficial effect of liberalisation of taxation associated with increased happiness of entrepreneurs may vary; in particular, it can be zero and even adverse. As exemplified by contemporary Russia, an overall reduction of the tax burden on business is the least preferred option for liberalisation of taxation. Being intended to fully cover the entire business, it does not increase happiness of entrepreneurs. Journal: Int. J. of Trade and Global Markets Pages: 459-467 Issue: 4/5 Volume: 14 Year: 2021 Keywords: liberalisation of taxation; pleasure economy; Russia; happiness of entrepreneurs; special tax regimes; tax holidays; family business taxation. File-URL: http://www.inderscience.com/link.php?id=116725 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:459-467 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksei V. Bogoviz Author-X-Name-First: Aleksei V. Author-X-Name-Last: Bogoviz Title: Limits of the pleasure economy in Industry 4.0: specifics of developing countries Abstract: The purpose of the paper is to determine the limits of the pleasure economy in Industry 4.0 in view of the specifics of developing countries. The methodological basis of the research includes a complex of methods of economic statistics: correlation and regression analysis, analysis of variation, and Monte Carlo method, which envisages generation of random numbers, probabilistic analysis, and creation of a histogram. The research objects are 12 developing countries from the IMD ranking of digital competitiveness. It is proved that in developing countries the potential of Industry 4.0 in stimulation of formation of the pleasure economy is very limited. Only limited success could be reached in formation of the pleasure economy based on Industry 4.0 in developing countries. Therefore, the limits of the pleasure economy in Industry 4.0 are narrow in developing countries. Journal: Int. J. of Trade and Global Markets Pages: 341-348 Issue: 4/5 Volume: 14 Year: 2021 Keywords: limits; pleasure economy; quality of life; Industry 4.0; digital economy; digital competitiveness; developing countries; automatisation; highly-efficient jobs; human resources; intellectual capital; satisfaction of public needs; happiness. File-URL: http://www.inderscience.com/link.php?id=116726 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:341-348 Template-Type: ReDIF-Article 1.0 Author-Name: Elena V. Sibirskaya Author-X-Name-First: Elena V. Author-X-Name-Last: Sibirskaya Author-Name: Liudmila V. Oveshnikova Author-X-Name-First: Liudmila V. Author-X-Name-Last: Oveshnikova Author-Name: Innara R. Lyapina Author-X-Name-First: Innara R. Author-X-Name-Last: Lyapina Author-Name: Stanislav Y. Evdokimov Author-X-Name-First: Stanislav Y. Author-X-Name-Last: Evdokimov Author-Name: Svetlana N. Bukhantseva Author-X-Name-First: Svetlana N. Author-X-Name-Last: Bukhantseva Title: Russian production sector in crosshairs. Will we be better off? Abstract: The production sector remains a key area of the Russian economy and one of the most important tools for integrating the country into the international economy. The level of industrial development determines the quality of living of the population of many Russian regions. The authors of this research, which is based on extensive statistical data and uses statistical tools, analyse the current state trends of the Russian industry, which serves as a basis for elaborating rational industrial policy, improving the effectiveness of industrial complex, achieving equilibrium growth of our state. Journal: Int. J. of Trade and Global Markets Pages: 468-493 Issue: 4/5 Volume: 14 Year: 2021 Keywords: production sector; research tools; trends and status; prospects. File-URL: http://www.inderscience.com/link.php?id=116727 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:468-493 Template-Type: ReDIF-Article 1.0 Author-Name: Elena G. Popkova Author-X-Name-First: Elena G. Author-X-Name-Last: Popkova Title: The scientific and methodological approach to classification of economic systems according to the criterion of pleasure Abstract: The purpose of the work is to solve the set problem by developing the scientific and methodological approach to classification of economic systems according to the criterion of pleasure. Based on the existing methodologies of measuring the level of development of pleasure economy - methodology of calculation of happiness index and methodology of calculation of happy planet index - the author develops and uses (approbates) a new scientific and methodological approach to classification of economic systems according to the criterion of pleasure. Within this approach, two measures of the pleasure economy are distinguished: the level of happiness in society and the level of social, economic, and ecological well-being of society. This allows considering the external conditions of living on the territory and their internal perception by the residents. It is substantiated that the capabilities of state management of the pleasure economy are very limited. Journal: Int. J. of Trade and Global Markets Pages: 450-458 Issue: 4/5 Volume: 14 Year: 2021 Keywords: economic system; pleasure; pleasure economy; happiness; conditions for life; trade; global markets. File-URL: http://www.inderscience.com/link.php?id=116728 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:450-458 Template-Type: ReDIF-Article 1.0 Author-Name: Yuliia M. Sokolinskaya Author-X-Name-First: Yuliia M. Author-X-Name-Last: Sokolinskaya Author-Name: Mariia E. Khanenko Author-X-Name-First: Mariia E. Author-X-Name-Last: Khanenko Author-Name: Lyudmila M. Kuznetsova Author-X-Name-First: Lyudmila M. Author-X-Name-Last: Kuznetsova Author-Name: Liudmila A. Pashkevich Author-X-Name-First: Liudmila A. Author-X-Name-Last: Pashkevich Author-Name: Elena V. Sibirskaya Author-X-Name-First: Elena V. Author-X-Name-Last: Sibirskaya Title: Indicators of economic security for monotowns of the Voronezh region Abstract: The issue of economic security has never existed in and of itself, but was rather a derivative of the tasks of economic growth and development on every stage of social development and depended on internal and external environment during a particular period. From the perspective of economic security at all levels, the situation in our country goes beyond secure by numerous criteria and is volatile; this was especially aggravated during crisis phenomena. The complexity of the process of integrated assessment of indicators of economic security of a monotown is due to the underdeveloped municipal statistics service. Journal: Int. J. of Trade and Global Markets Pages: 494-506 Issue: 4/5 Volume: 14 Year: 2021 Keywords: region; economic security strategy; multi-factor analysis; typology of single-industry towns; economic security; economic security indicators and factors; Kaufman's adaptive moving average. File-URL: http://www.inderscience.com/link.php?id=116729 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:494-506 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksei V. Bogoviz Author-X-Name-First: Aleksei V. Author-X-Name-Last: Bogoviz Author-Name: Svetlana V. Lobova Author-X-Name-First: Svetlana V. Author-X-Name-Last: Lobova Author-Name: Alexander N. Alekseev Author-X-Name-First: Alexander N. Author-X-Name-Last: Alekseev Title: Labour efficiency in the pleasure economy: perspectives of increase in developing countries in Industry 4.0 Abstract: The purpose of the paper is to determine the perspectives of increase of labour efficiency in Industry 4.0 for stimulating the pleasure economy in developing countries. The authors use regression analysis for determining the dependence of the index of happiness on labour efficiency and the dependence of labour efficiency on the index of Industry 4.0 technologies application. It is substantiated that in developing countries the contradiction of social and economic criteria of the pleasure economy is preserved during optimisation of labour efficiency. It is proved that full automatisation at 'smart' companies in developing countries causes either unemployment or increase of the labour norms for unskilled workers, which hinders obtaining pleasure from labour. It is also substantiated that the scenario of moderate automatisation is most preferable - in envisages application of digital technologies and moderate norms of labour. It allows obtaining pleasure from work and showing rather high efficiency. Journal: Int. J. of Trade and Global Markets Pages: 370-377 Issue: 4/5 Volume: 14 Year: 2021 Keywords: labour efficiency; pleasure economy; developing countries; digital economy; automatisation; 'smart' companies; norming of labour; Industry 4.0; jobs; work. File-URL: http://www.inderscience.com/link.php?id=116730 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:370-377 Template-Type: ReDIF-Article 1.0 Author-Name: Victoria V. Bolgova Author-X-Name-First: Victoria V. Author-X-Name-Last: Bolgova Author-Name: Dmitry A. Lipinsky Author-X-Name-First: Dmitry A. Author-X-Name-Last: Lipinsky Author-Name: Alexey A. Fomin Author-X-Name-First: Alexey A. Author-X-Name-Last: Fomin Author-Name: Aleksandra A. Musatkina Author-X-Name-First: Aleksandra A. Author-X-Name-Last: Musatkina Author-Name: Aleksey N. Stankin Author-X-Name-First: Aleksey N. Author-X-Name-Last: Stankin Title: Legal means of ensuring economic security: the fundamentals of establishment of the system Abstract: This research is aimed at identifying regulatory and methodological basis for the establishment of a system of legal means of ensuring economic security in contemporary Russia. Methodology. The research utilised the method of synthesis of various theoretical approaches to economic security, as well as simulation approach that allowed constructing the model of a system of legal means of ensuring economic security. Subject matter. The authors have analysed theoretical approaches to economic security; the authors demonstrate how a relevant approach is transformed in the process of creation of legal means of ensuring economic security. Conclusions. Strategy papers in the field of economic security in modern Russia are based on the idea that parameters, indicative characteristics, security objectives and security threats are determined exclusively by the state. Journal: Int. J. of Trade and Global Markets Pages: 378-389 Issue: 4/5 Volume: 14 Year: 2021 Keywords: economic security; legal means; state; policy; system; protection; national interests; priorities; strategy of national security; regulation of security. File-URL: http://www.inderscience.com/link.php?id=116731 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:378-389 Template-Type: ReDIF-Article 1.0 Author-Name: Svetlana V. Lobova Author-X-Name-First: Svetlana V. Author-X-Name-Last: Lobova Author-Name: Tatiana V. Skryl Author-X-Name-First: Tatiana V. Author-X-Name-Last: Skryl Author-Name: Irina S. Antonova Author-X-Name-First: Irina S. Author-X-Name-Last: Antonova Author-Name: Aleksandr V. Averin Author-X-Name-First: Aleksandr V. Author-X-Name-Last: Averin Title: Contribution of Industry 4.0 into formation of the pleasure economy in developing countries Abstract: The purpose of the paper consists in determining the contribution of transition to Industry 4.0 into formation of the pleasure economy in developing countries and in developing the recommendations for regulation of this process. The research is performed based on the whole totality of the indicators that are used during calculation of the index of competitiveness 4.0 of the World Economic Forum. The research objects are countries of BRICS, as they achieved the largest progress in creation of the digital economy among developing countries. The authors perform regression analysis of the influence of Industry 4.0 on the pleasure economy in countries of BRICS in 2019 and plan-fact analysis and treatment of the influence of Industry 4.0 on the pleasure economy in Russia in 2015-2019. Journal: Int. J. of Trade and Global Markets Pages: 423-431 Issue: 4/5 Volume: 14 Year: 2021 Keywords: Industry 4.0; digitisation; digital economy; pleasure economy; quality of life; living standards; developing countries; countries of BRICS; Russia. File-URL: http://www.inderscience.com/link.php?id=116732 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:423-431 Template-Type: ReDIF-Article 1.0 Author-Name: Evgeny E. Shvakov Author-X-Name-First: Evgeny E. Author-X-Name-Last: Shvakov Author-Name: Yuriy A. Krupnov Author-X-Name-First: Yuriy A. Author-X-Name-Last: Krupnov Author-Name: Elena A. Gureeva Author-X-Name-First: Elena A. Author-X-Name-Last: Gureeva Author-Name: Oleg G. Karpovich Author-X-Name-First: Oleg G. Author-X-Name-Last: Karpovich Title: Sources of income in the economy of pleasure: new growth vectors of developing countries in Industry 4.0 Abstract: The purpose of the paper is to determine the additional opportunities for development of the pleasure economy based on the sources of income that appear in new growth vectors of developing countries in Industry 4.0 and to develop recommendations for activation of these growth vectors and practical implementation of these opportunities. The authors perform an overview and analysis of statistical information on the topic of economic growth rate, the share of mid-tech and hi-tech production in the structure of industry, and competitiveness of Industry 4.0 in developing countries which showed the highest rate of economic growth in 2019 according to the World Bank statistics. The research methodology consists of a complex of general scientific methods and the econometric methodology of statistical data analytics. It is substantiated that new vectors of economic growth appear in developing countries in the conditions of Industry 4.0. The offered recommendations will allow overcoming the determined contradictions and activating new growth vectors of developing countries in Industry 4.0. Journal: Int. J. of Trade and Global Markets Pages: 441-449 Issue: 4/5 Volume: 14 Year: 2021 Keywords: sources of income; pleasure economy; new growth vectors; developing countries; Industry 4.0; digital competencies; highly-efficient jobs; remote work; automatisation; hi-tech industrial companies. File-URL: http://www.inderscience.com/link.php?id=116733 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:441-449 Template-Type: ReDIF-Article 1.0 Author-Name: Elena Y. Astakhova Author-X-Name-First: Elena Y. Author-X-Name-Last: Astakhova Author-Name: Galina N. Semenova Author-X-Name-First: Galina N. Author-X-Name-Last: Semenova Author-Name: Tatyana V. Shchukina Author-X-Name-First: Tatyana V. Author-X-Name-Last: Shchukina Author-Name: Zhanna A. Telegina Author-X-Name-First: Zhanna A. Author-X-Name-Last: Telegina Title: Profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 by the example of developing countries Abstract: The purpose of the paper is to determine the profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 in developing countries. The authors use the method of aggregation and systemic analysis of statistical data for determining advantages and weaknesses of Industry 4.0 in developing countries that are connected to commodity and service markets. Expert evaluations are used for determining the characteristics of activity in the commodity and service markets for manufacturers (and sellers) and buyers in the pre-digital technological mode and in Industry 4.0 and for determining the weights of criteria for consumers, manufacturers, and sellers. It is substantiated that advantages of Industry 4.0 for the pleasure economy in developing countries in the commodity and service markets are very vivid. Journal: Int. J. of Trade and Global Markets Pages: 360-369 Issue: 4/5 Volume: 14 Year: 2021 Keywords: profits; losses; manufacturers; consumers; pleasure economy; Industry 4.0; developing countries; BRICS; markets; risks. File-URL: http://www.inderscience.com/link.php?id=116734 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:360-369 Template-Type: ReDIF-Article 1.0 Author-Name: Elena B. Gerasimova Author-X-Name-First: Elena B. Author-X-Name-Last: Gerasimova Author-Name: Victoria O. Fedorovskaya Author-X-Name-First: Victoria O. Author-X-Name-Last: Fedorovskaya Author-Name: Sergey S. Lomakin Author-X-Name-First: Sergey S. Author-X-Name-Last: Lomakin Author-Name: Vasilina A. Brusentseva Author-X-Name-First: Vasilina A. Author-X-Name-Last: Brusentseva Title: Income for successful life in the pleasure economy: the financial aspect of developing countries' transition to Industry 4.0 Abstract: The purpose of the paper is to study the financial aspect of the developing countries' transfer to Industry 4.0 based on determining the influence of population's incomes on development of the pleasure economy. For studying the influence of incomes on the pleasure economy and the financial aspect of the developing countries' transfer to Industry 4.0 the authors use the method of imitation modelling, which is based on regression analysis and optimisation with the simplex method. It is substantiated that distribution of incomes in society in developing countries has insignificant influence on the pleasure economy and does not influence the speed of transition to Industry 4.0. The authors develop a pyramid model of financial management of development of the pleasure economy and transition to Industry 4.0 and offer the following recommendations for financial management of development of the pleasure economy and transition to Industry 4.0. Journal: Int. J. of Trade and Global Markets Pages: 516-524 Issue: 4/5 Volume: 14 Year: 2021 Keywords: income; success; happiness; pleasure economy; finances; transition to Industry 4.0; developing countries; modern Russia; population. File-URL: http://www.inderscience.com/link.php?id=116735 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:4/5:p:516-524