https://www.um.edu.mt/library/oar/handle/123456789/31210 2026-04-23T03:29:54Z https://www.um.edu.mt/library/oar/handle/123456789/31485 Title: Austerity and fuel consumption in Greece : an empirical investigation Authors: Sidiropoulou, Theopisti Th.; Papanastasiou, Ioannis A. Abstract: Greek economic crisis in the last years and the subsequent austerity policy measures resulted to a decline in consumers’ income. This paper investigates empirically the Greek consumers’ reactions to income changes regarding their consumption of different types of fuels during the period 2007-2011. The empirical findings suggest that fuel consumption elasticity of income is different among different types of fuels. Furthermore the income elasticity is different among different Greek geographic regions. More specifically, fuels with high consumption i.e. 95 RON unleaded gasoline and diesel-bio fuels are found to be income inelastic as compared to fuels with low consumption i.e. 98-100 RON unleaded gasoline and new super gasoline LRP. Furthermore, for the high consumed fuels, consumers’ behavior patterns to income changes in the island are opposite to that in the rest Greek territory. 2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31484 Title: Determinants of Euro against US dollar rate of exchange (USD/EUR) in the long run Authors: Bukowski, Slawomir I.; Bukowska, Joanna E. Abstract: The paper is a result of research which aimed to identify the factors determining the USD/EUR rate of exchange and the strength of the influence in the long run. In the research we used the Frenkel - Bilson model and an econometric model built on its basis. In the research we formulated a hypothesis that the USD/EUR rate of exchange is determined in an economic and statistically significant way by the following factors: M1 and M2 money supply in the euro area and USA, changes in the GDP rate of growth in the euro area and USA, changes in long term treasury bond yield to maturity in the euro area and USA. The results of the research confirmed the above hypothesis. 2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31471 Title: Opportunities and constraints in financing SMEs Authors: Viorel Dorin, Lacatus; Viorela-Ligia, Vaidean Abstract: The enterprise is the most important component of the economy and of the society as well. The paper studies the weights of SME sector in different countries, focusing on topical operational issues for financing SMEs. In Romania, these are mainly shareholders’ credits; own resources, loans, European Union or EBRD funds, etc. Some analysts consider that the growth of SMEs is impeded by an insufficient supply of capital. In Romania as in other states, the public authorities have interceded to fill this equity gap by increasing the supply of funds. Furthermore, managerial opinions concerning the obstacles faced by their firms reveal some potential growth factors for SMEs: the size of loans, the amount of reinvested profit, well-educated human resources and technical assistance, all critical to the success of SME’s in exploiting, indeed surviving, the rapid globalization of markets. 2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31469 Title: Development of small and medium enterprises through clusters and networking : a comparative study of India, Pakistan and Sri Lanka Authors: Dasanayaka, Sarath W. S. B.; Sardana, G. D. Abstract: Clusters have several advantages. These include a high degree of networking which stimulates productivity, ability to diversify and to acquire the capacity to new products when the demand for existing products falls. The policy makers are searching ways to create new clusters. With an even more globalized world and increased competition the appeal of clusters has become stronger and more urgent. Yet, the formation and the sustenance of the clusters has somehow remained a mystery. There has been a limited research carried out in this direction. No doubt it is a complex area and no figurative results can be highlighted to show as to how the development of industrial clusters has taken place. The authors go about seeking answers to these questions by examining the experience of some of the prominent and successful clusters, their formation and sustenance in the three countries. The study further investigates various initiatives, the role and the results thereof in development of clusters. 2015-01-01T00:00:00Z