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This paper investigates the use of redundancy procedures (RPs) by small and medium-sized enterprises (SMEs) in Spain during the COVID-19 pandemic. The novelty of this study is that it goes beyond the direct influence of the determinants of RPs on RP use, and analyses how the interactions among them moderate the direct effect. In contexts of rising uncertainty, businesses need to adapt their operations and fixed costs, including staffing. While teleworking is an alternative to RPs, our results show that it was not enough to deal with the negative impact of a worsening crisis. Moreover, when the survival of the business is at stake, the use of RPs increases further when the company is simultaneously affected by changes in demand and liquidity issues. We argue that our results reveal the need for flexible tools along with the policies that take into account the fact that businesses' reactions are contingent on their exposure to risk. [ABSTRACT FROM AUTHOR]

According to the World Travel & Tourism Council, out of 185 countries, Romania holds the 59th position as regards the relative importance of this sector to the total contribution to GDP. Europe is the most important tourist destination in the world, having the greatest number of international visitors each year and a market share of 51% in 2017. However, Romania is not adaptable enough to attract foreign citizens, losing the competition with the countries in the region and continuing to be a transit country. [ABSTRACT FROM AUTHOR]

The article aims to analyse the evolution of budgetary expenditures and their relationship with economic growth, especially in the EU countries and three non-EU countries - Switzerland, Norway and Iceland during 1991 - 2012. To test the link between government spending and economic growth the research used the United Nation Classification of the Functions of Government and three econometrical regression methods -- ordinary least square, least squares dummy variable and the generalized method of moments. Statistical results for the 10 categories of expenditure have shown that economic affairs, environmental protection, recreation, culture and religion and social protection have a significant impact on economic growth. Also the recent economic crisis and the EU accession influenced the variation of GDP/capita. [ABSTRACT FROM AUTHOR]

This paper analyzes the correlation between public expenditure for each individual sector and economic growth for 30 European countries over the period 1991 to 2012 using three econometric methods -- ordinary least squares, least square dummy variable and generalized method of moments. In order to test the link between government spending and economic growth, the research uses the United Nation's Classification of the Functions of Government. By analyzing the sub-branches of public spending, we arrived at the conclusion that most of the public expenditures negatively affected economic growth. Also, the use of dummy variables showed that the recent economic crisis has had a negative effect on the sample states. The European integration didn't have a big influence on economy, the GDP per capita growing with only 0.03%. The impact of public expenditure on economic growth is very important nowadays because the economic system was changed by the recent events, mainly the global economic crisis, the almost economic collapse of Greece and the European Union's ageing and debt problems. [ABSTRACT FROM AUTHOR]

Growth theories highlight the evolution and trends in economic thought that shaped the way economic growth is perceived. From the early works of Adam Smith and Malthus to the present day researchers have tried to find the most important determinates that influence growth by formulating new and improved theories and models. In this article we try to offer our point of view in the evolution of the main factors that have an impact on economic growth. There is still not a consensus on the key determinants of growth and an all-encompassing model that includes all the influences has not yet been elaborated. [ABSTRACT FROM AUTHOR]

The objective of this working paper is to investigate the correlation between private and public sector investment and economic growth in the European Union. The analysis will be made between 1996 and 2012. This was a time of big changes for the European community, by the large number of states that were integrated and also by the turbulent times after the start of the economic crisis in 2008. A better understanding of the influences on economic growth by the public and private sectors will help policy makers in the EU to allocate more efficiently the financial resources. Our research will follow two major paths. One will be concentrated on the impact of the variables at national level and another will try to understand the effects of public and private sectors at regional level. The result of the analysis ought to show the bigger impact of the private sector on growth compared with the influence of public investment. [ABSTRACT FROM AUTHOR]