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            <title><![CDATA[Gender Diversity or Tokenism? Examining the Impact of Female Executive Leadership on Working Capital Management in Banking Sector of Pakistan]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0010</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper investigates whether the female executive leadership in the banking sector of Pakistan reflects substantive influence on the financial decision-making process or merely symbolic representation. Although the growing trend of gender diversity has increased female representations in the corporate world, there is limited evidence as to whether the increased female representation has led to a comparable increase in the financial performance of the company, especially in the context of the emerging markets. This paper explores the connection between female executive leadership and working capital management, and major financial performance indicators such as liquidity and profitability, drawing on the theory of corporate governance and tokenism. The analysis employs a dynamic Generalised Method of Moments (GMM) approach to overcome possible issues of endogeneity, using panel data of 18 commercial banks listed in Pakistan Stock Exchange over a period 2016–2025. The findings demonstrate a positive, albeit a weak, correlation between female executive leadership and working capital management, Suggesting some influence on short-term financial discipline. However, no statistically significant relationship is found between female leadership and broader performance measures such as return on assets and return on equity. These findings Provide nuanced insides how gender diversity plays in the emergent markets. Although female executives appear to influence operational financial decisions, their overall Impact remains limited, reflecting certain aspects of tokenism. The study contributes to the existing literature by going beyond the representation-based studies and analysing the functional implications of gender diversity in financial decision-making. It also provides empirical evidence from a relatively unexplored context, highlighting the importance of institutional and organisational conditions in shaping the effectiveness of leadership diversity and offering insights for policymakers and banking regulators seeking to promote meaningful gender inclusion in corporate leadership.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Dysfunctions and Transformational Processes in Social Systems under Contemporary Global Changes]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0002</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The present study examines social systems as complex and dynamic structures that function through the interaction of institutions, social groups, norms, and values. In the context of globalization, technological transformations, and increasing interdependence among societies, social systems are subjected to growing transformational pressure and various forms of dysfunctionality. The article analyzes the main theoretical approaches to the study of social systems, focusing on the concepts of Talcott Parsons and Niklas Luhmann. Particular attention is given to the mechanisms of systemic stability, adaptation, and integration, as well as to the factors that may lead to disruptions in the functional balance of social structures.The study identifies the main directions of dysfunctionality in social systems, including accelerated social change, global external shocks, institutional instability, structural rigidity, and technological transformations. Specific manifestations of these processes in Bulgaria and the European Union are also examined, such as social inequality, regional disparities, the crisis of institutional trust, and demographic challenges. In conclusion, the study emphasizes that the resilience of social systems depends on their ability to develop adaptive mechanisms, modernize institutional structures, and maintain a balance between stability and change. Effective management of social risks, the reduction of social inequality, and the strengthening of institutional legitimacy are considered key factors for the sustainable development of contemporary societies.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[The Effectiveness of Financing Mechanisms for the Start-Up Ecosystem within the Context of Government Innovation Policy]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0009</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The article explores current issues related to how Georgia funds its start-up ecosystem within the framework of state innovation policy. Today, developing the start-up ecosystem is important for driving the country’s economic growth and enhancing its innovative potential. The effectiveness of funding mechanisms and their alignment with the country’s economic conditions are crucial in this process. The study's findings show that Georgia’s funding mechanisms have a significant impact on the start-up ecosystem; however, their success is limited by restricted access to capital, low investor involvement, and regulatory challenges. The research emphasizes the difficulties in Georgia’s innovation policy and points out gaps in the funding systems of the start-up ecosystem. As a result, the study suggests several improvements, such as diversifying financial tools, strengthening collaborations between the government, the business sector, and higher education institutions, and adopting a more adaptable regulatory approach. These findings can provide a useful basis for future planning and implementation of the country's financial and economic strategies, as well as for improving innovation efforts and increasing the competitiveness of the local innovation landscape.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Historical Impact of Fiber Optics on the Economy]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0007</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The research is centered around investigating the economic influence of fiber optics historically. This study uses a qualitative approach based solely on systematic literature review and interpretation. The scope of the research will be aimed at investigating the role played by fiber optics in influencing different aspects of the economy. Some of the critical economic aspects considered include productivity, telecommunications industry, industrial restructuring, globalization, and labor market dynamics. The methodology involves adopting an advanced qualitative strategy that incorporates themes, comparison, and context analysis. Research articles from different fields of study are reviewed based on their relevance to telecommunications economics and digital technologies infrastructure. Themes are identified based on commonalities like economies of scale, improved efficiency, and innovation diffusion. Comparisons are made based on differences in geography and levels of development, whereas context analysis considers institutional and policy settings. Based on the findings, it can be seen that fiber optics technology has played a majorly positive role in affecting the economy. Important achievements include decreased cost of transmission, increased productivity, broader use of broadband services, and improved globalization via increased data flow and outsourcing. The research also highlights important limitations regarding the unequal distribution of the technology's benefits due to regional differences, changing labor markets, and regulatory challenges. Overall, fiber optics is recognized as a revolutionary general-purpose technology that creates important spillovers within the economy. Its success requires complementary factors such as human capital, institutions, and good policy making. Although the approach adopted for analyzing the topic is qualitatively sound, future research can consider quantification as well.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Impact of Foreign Direct Investment on Nepal's Energy Sector Growth: An ARDL Bounds Testing Approach (1995–2025)]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0011</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The purpose of this study is to analyze the lasting influence of foreign direct investment (FDI) on Nepal's energy sector from 1995 through 2025. We employ an autoregressive distributed lag (ARDL) bounds testing approach plus an error correction model (ECM). Unit root tests show that the variables are integrated of order 1 in both levels and first differences. The bounds test also indicates a long-run cointegrating relationship. During the analyzed period, a 1% increase in energy sector FDI leads to a 0.15% increase in energy sector GDP in the long run and to a 0.33% rise in the short run, while the speed of adjustment to equilibrium is 58.9%. Capital formation has a long-run elasticity of 11.2%. Employment, though, has a negative coefficient of −14.82, and the reason is that Nepal has continuously had a high rate of vulnerable employment. The change in Nepal's energy sector during these three decades has been through three connected phases: a first growth phase (1995–2010), an FDI-driven hydropower boom (2011–2022), and a renewable diversification phase (2023–2025), which is characterized mainly by a solar energy increase and electricity sector growth of 20.93% (2025/26)—the fastest in the economy. The average difference between approved and realized FDI during the analysis period was 31.9%. This difference ranged from negative inflows in the early 2000s to 128.8% in 2011 and 13.6% in 2023/24. Tests for diagnostics show no serial correlation and heteroskedasticity. Our findings show that energy FDI has been one of the major positive factors behind Nepal's economic growth for 30 consecutive years. Still, different forms of energy from hydropower to solar integration will require the government to continually introduce changes to its energy policy. I believe that FDI will continue to strongly support Nepal's economic growth when it graduates from LDC status in 2026.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Mapping Recent Research Trends in Container Ports Engineering, Operations and Management: A Bibliometric Analysis]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0006</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Container ports play a central role in international trade, and their performance increasingly depends on integrated operational and managerial strategies. Although research on container ports has expanded over time, existing studies remain fragmented across engineering, operations, and management perspectives. Moreover, prior bibliometric reviews largely emphasize descriptive trend mapping, offering limited insight into the structural imbalances and strategic implications shaping the evolution of the field. Using the Scopus database as the primary data source, a dataset of 1,529 publications published between 2015 and 2026 was analyzed. Unlike previous reviews, this study integrates performance analysis, thematic evolution, and conceptual structure mapping to provide a unified perspective on the intellectual structure of container ports engineering, operations, and management. The analysis was conducted using the bibliometrix package and the Biblioshiny interface in R, examining publication dynamics, leading journals and authors, collaboration networks, keyword co-occurrence, and dominant thematic clusters. The results reveal a clear structural shift in container terminal research around 2020, moving from traditional optimization approaches toward data-driven and automation oriented methods. Advanced techniques such as integer programming and reinforcement learning now dominate, while governance, sustainability, and human centered management remain underrepresented, reflecting a persistent imbalance. This study contributes by providing a critical and integrative perspective on the field’s intellectual structure, highlighting both dominant trends and neglected dimensions. However, the analysis is limited to the Scopus database and relies on bibliometric methods that may overlook contextual depth. Future research should adopt mixed approaches and focus on interdisciplinary, governance, and sustainability aspects to enhance the relevance and applicability of findings across diverse port contexts.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The Importance of Education for Successful Digital Transformation of Work]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0004</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Workplace changes due to digitalization are intensive change management processes that are becoming the key to business success and sustainability. Continuous education of human resources is necessary for working in a digitally transformed work environment. This research compares the views of students as future employees and the real sector in Croatia on the need for learning and the importance of responsibility for human resource development. The methodology used in the research is combined quantitative features conducted through an interview survey. The aim of the research is to determine the awareness of openness to learning of the future and current workforce in the labor market of the Republic of Croatia. Change management and resilience development are possible if there is awareness of the need for continuous education and because those who do not successfully adapt to change will be significantly left behind. This research contributes to understanding the attitudes of future and current employees and can serve as a basis for adjusting organizational strategies and development policies in business]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The Origins of Agricultural Cybernetics]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0008</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper explores the origins of Agricultural Cybernetics and its structural evolution from traditional machine-based agriculture to the contemporary era of sustainable and precision farming. The analysis is organized through a structured four-period theoretical framework, spanning pre-1945 agricultural industrialization, the post-war agribusiness era of 1945–1970, the digitalization and sustainability transition of 1970–2000 and the contemporary era of AI and the Cybernetic Revolution from 2000 to the present. Understanding how agriculture evolved through technological change and the food requirements of a growing global population is essential for grasping the interlinkages among the diverse scientific disciplines involved in crop and food production. The paper combines conceptual synthesis with historical analysis, incorporating empirical evidence and comprehensive datasets covering the period from 1960 to 2023. The analysis identifies persistent productivity growth alongside substantial variability in economic returns, demonstrating how these patterns underpin the historical and conceptual evolution of Agricultural Cybernetics. The progression from manual, observation-based agriculture to mechanized and digitally integrated systems reflects significant advances in knowledge production, economic arrangements and sustainability practices.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Advantages and Disadvantages of Minimum Wage – Case Slovenia]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0005</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The minimum wage is the legally set minimum amount that an employer must pay for work within a specified period. It offers legal protection to workers against exploitation, ensures a minimum standard of living, and helps stabilise the economy to some extent by boosting purchasing power. New Zealand was the first country to introduce the minimum wage, followed by Australia, Great Britain (all before World War I), and the United States. After the Second World War, the concept of the minimum wage expanded first across Eastern Europe and later throughout the rest of the world, sometimes only in a declarative manner. While the minimum wage has certain benefits for workers and the economy, it can also have negative consequences. If it approaches or exceeds 60% of the average wage, it may decrease motivation for education, extra effort, or promotions, as job differences become less noticeable. It can also diminish demand for low-skilled workers and even restrict some groups from entering the labour market. In Slovenia, the minimum wage is legally set, but, alarmingly, it is increasing faster than the average gross wage. As a result, Slovenia is losing its economic competitiveness.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Economic Cooperation Between the Republic of Croatia and the People's Republic of China: The Role of the Belt and Road Initiatives]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0003</link>
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            <pubDate>Tue, 30 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The cooperation between the Croatian people and the Chinese people has existed for 700 years, since Marco Polo stayed in China to establish and improve relations between the two nations. Contemporary diplomatic relations between the Republic of Croatia (hereinafter referred to as Croatia) and the People's Republic of China (hereinafter referred to as China) began more than 30 years ago, i.e., in May 1992, after China recognized the independence of Croatia. Although the two countries are different in many aspects, what they have in common is a friendly and positive attitude towards each other with mutual respect. There are many reasons that influence diversity, and this diversity is precisely what determines the economic relations between the two countries. The values of economic transactions have been modest since the very beginning of the relationship between the two countries. However, in specific periods, there have been indications of an increase in trade and economic activities. The Belt and Road Initiative (BRI) has contributed to an even greater rapprochement between the two countries, not only economically, but also culturally and, most importantly, interpersonally. In addition to three contemporary initiatives of the People's Republic of China: Global Security Initiative, Global Development Initiative, and Global Civilization Initiative, the Belt and Road Initiative serves as a platform for cooperation opportunities in the future, which is based on the successful historical cooperation of the two nations. The comprehensibility of the initiative is also represented by the opportunities within the Silk Road Fund and the activities of the Asian Infrastructure Investment Bank (AIIB). This paper investigated the historical trajectory of relations between Croatia and China, with a special emphasis on the importance of the BRI in Croatia. It analyzed the previous successes in economic cooperation and outlined the potential for future development under the initiative in Croatia.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Erratum]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2026-0001</link>
            <guid isPermaLink="false">/article/10.2478/rsep-2026-0001</guid>
            <pubDate>Tue, 20 Jan 2026 00:00:00 GMT</pubDate>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Fiscal policy, sustainable development and economic growth in Sub-Saharan Africa]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0018</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study aims to examine the impact of fiscal policy on sustainable development in Sub-Saharan Africa. Fiscal policy, economic growth, sustainable development, and its determinants have come under scrutiny in Sub-Saharan Africa over the years due to the delicate nature of the concepts to the region’s development. This study sought to examine the impact of fiscal policy on sustainable development. The study used causal research design and quantitative approach, the population comprised of 34 countries in Sub-Saharan Africa, 21 years of panel data was utilized by the study sourced from the world databank. There are four macroeconomic variables used, which are global uncertainty, fiscal policy, sustainable development, and economic growth. Government expenditure, government revenue, inflation, foreign direct investment, and external debt is used to represent fiscal policy. Gross domestic product is also used to represent economic growth. In assessing sustainable development, sustainable development goal index was used to measure. Data analysis technique used Feasible Generalized Least Square method through fixed and random estimations. Findings showed a negative association between fiscal policy and economic growth. Notwithstanding, the study found positive relationship between fiscal policy and sustainable development. Finally, there was a negative relationship between world uncertainties and sustainable development. The study implies that government should implement measures to reduce its borrowing to minimize its adverse impact on economic growth. It is recommended that Governments and policy makers should pay close attention to fiscal policy variables as it has a negative impact on economic growth. All efforts should be made to ensure that a balance will be reach in terms of fiscal policy to ensure economic growth. The novelty of the study is that it has unveiled the relationship between world uncertainties and sustainable development.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[Do economic complexity and energy consumption affect environmental performance? Evidence based on the LCC hypothesis in the Türkiye economy]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0011</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study examines the environmental impacts of economic growth (GDP), economic complexity (ECI), and energy consumption (EU) in Türkiye for the period 1995–2023 within the framework of the Load Capacity Curve (LCC) hypothesis. Fourier ADL cointegration was used in the analyses, while FMOLS, DOLS, and CCR methods were used for long-term coefficient estimations. The findings reveal a significant and strong cointegration relationship between GDP, ECI, EU, and the load capacity factor (LCF). The long-term estimation results show a U-shaped relationship between GDP and the LCF. This means that the LCF initially decreases as income increases, but it increases above a certain income level, improving environmental quality. This confirms the validity of the LCC hypothesis in Türkiye. On the other hand, the negative impact of increasing ECI and EU on the LCF indicates that Türkiye's production structure and energy infrastructure have not yet reached a level capable of operating efficiently at full capacity. In this context, it is not enough for energy policies to focus solely on creating new production capacity; mechanisms must be developed to ensure more efficient and balanced use of existing infrastructure.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Sustainability-Oriented pedagogy as a socio-economic strategy: A mixed-methods empirical study in Mexican FLE education]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0019</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Sustainability-oriented pedagogy has emerged as a key priority in higher education, particularly in emerging economies where environmental deterioration, socio-economic inequality, and structural vulnerabilities converge. This mixed-methods empirical study examines the socio-economic, linguistic, and ecological impact of sustainability-based instructional interventions implemented within a French as a Foreign Language (FLE) program at the University of Colima, Mexico. Four pedagogical projects—Linguistic Garden, Sustainable Recipes, a circular-economy flea market, and structured sustainability debates—were deployed over one semester. Quantitative analyses based on a dataset (N = 48) indicate substantial gains in ecological awareness (+32%), responsible consumption attitudes (+27%), and oral fluency development (+18%). Qualitative findings drawn from students’ reflective journals and class observations reveal deepened socio-economic consciousness, heightened civic engagement, and meaningful linguistic progress. Participant narratives highlight behavioral changes beyond the classroom, including reduced waste generation, increased preference for local products, improved awareness of food systems, and greater ecological responsibility. The findings underscore the potential of language programs to cultivate ecological citizenship, socio-economic awareness, and civic participation alongside linguistic-development goals. The study provides a framework for embedding sustainability transversally into language curricula and offers implications for educational policy, curriculum design, and pedagogical innovation.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The impact of Central Bank policy interest rates on macroeconomic indicators in Türkiye (2014–2024)]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0013</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Money markets are among the most influential factors affecting macroeconomic indicators. Central banks manage these markets through various monetary policy instruments, the most significant of which is the interest rate. Since 2018, Turkey has pursued a markedly different monetary policy path, which has drawn diverse reactions from both domestic and international economic authorities. This study examines these responses in chronological order. In economic theory, the relationship between interest rates and inflation has been discussed from various perspectives. The generally accepted view is that raising interest rates reduces inflation, while lowering them increases it. However, Turkey’s recent monetary policy has been shaped by an approach that runs contrary to this conventional understanding.The impact of interest rate policy on exchange rates has been predominantly upward. Rising exchange rates have increased the prices of imported goods, thereby driving up costs. This effect has been particularly pronounced in the fuel market, where Turkey’s high dependency on imports led to price increases of more than 100 percent. Given the widespread reliance on road transportation, higher fuel prices significantly raised transport costs, resulting in severe cost-push inflation.The analysis investigates the relationship between interest rate changes and key macroeconomic indicators such as inflation, foreign trade, economic growth, and GDP. The findings reveal a strong correlation between interest rates and many of these macroeconomic variables.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[How does gender inequality in education and labor force participation affect Afghanistan’s economic growth?]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0009</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study examines the effect of gender inequality in education and labor force participation on Afghanistan’s economic growth. Using time-series data from 2000 to 2022 and applying the Autoregressive Distributed Lag (ARDL) model, the results reveal that gender inequality in both employment and education significantly hinders economic growth. Particularly, a 1% increase in gender inequality in education leads to a 9.039% decline in economic growth, while a similar increase in labor force participation inequality results in a 16.67% reduction. These findings highlight the essential role of women’s full participation in education and the workforce as a key driver of economic growth. Policy recommendations emphasize expanding educational opportunities through scholarships and distance learning programs for girls and women, creating employment initiatives to enhance women’s participation in the labor market, and fostering national and international collaboration to drive political and structural reforms aimed at restoring gender equality. The study ultimately concludes that addressing gender inequality is not only a matter of human rights but also an economic necessity for Afghanistan’s long-term stability and development. Ensuring equal access to education and employment for women is imperative for fostering inclusive economic growth and breaking the cycle of poverty and underdevelopment.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Migration intentions in transition economies: A study of potential migration from Albania and its future impacts on the sending society]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0014</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study explores the potential migration phenomenon from Albania, analysing both the factors influencing individuals' migration intentions and the broader socio-economic effects of these intentions. Since the 1990s, Albania has encountered significant demographic and developmental challenges related to population mobility. The focus is on the social and economic motivations and impacts linked to individuals’ migration intentions. Studying potential migration helps to identify the inclination to migrate before it becomes actual migration. The probability that potential migration will materialise into actual migration underscores the importance of timely policy responses in mitigating the impacts of migration for sending countries. This research is based on primary data collected via a survey. It contextualises migration intentions within larger frameworks of transition economies, structural inequality, and global labour markets. The findings contribute to academic and policy discussions on migration decision-making and underscore the importance of such research for policymaking, offering evidence-based insights that can inform strategies for sustainable development.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Constant Growth Dividend Discount Model (DDM): A study on selected companies in Türkiye]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0020</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study examines the validity and predictive power of the Constant Growth Dividend Discount Model (DDM) in valuing the stock prices of 23 BIST-listed companies that paid regular dividends between 2014 and 2023. The model estimates theoretical stock values based on the assumption that future dividends grow at a constant rate, and these estimates were compared with actual market prices. To evaluate forecasting accuracy, the symmetric Median Absolute Percentage Error (sMdAPE) and Wilcoxon Signed-Rank test were employed. The findings show that sMdAPE values remained below 30% for the majority of companies, indicating strong predictive accuracy. Although the Wilcoxon test revealed statistically significant differences for 7 firms, no significant discrepancy was found for the remaining 16 firms, suggesting that DDM aligns well with market prices for most dividend-paying firms. Overall, the results demonstrate that DDM is a reliable valuation method for Turkish companies with stable dividend policies. The study also indicates that dividend growth volatility, sectoral characteristics, and macroeconomic dynamics may influence model performance. The findings contribute to the literature and offer practical insights for investors, analysts, and researchers.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[An analysis of the impact of merchandise trade on job creation in selected African countries]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0010</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This study investigates the dynamic relationship between merchandise trade and job creation across eight African economies from 2000 to 2024, applying a panel data econometric framework to capture both cross-country and time-series variations. While trade liberalisation has long been posited as a driver of growth and employment, Africa’s heterogeneous structural conditions necessitate empirical verification of its job-creation effects. Using secondary data from the World Bank’s World Development Indicators, the analysis employs fixed and random effects models, complemented by robustness checks using the Hausman test, to estimate the effect of trade volume, export diversification, and import dependence on total employment rates. Results reveal that merchandise exports significantly enhance job creation in the manufacturing and services sectors, whereas excessive import dependence dampens employment gains. The findings highlight the crucial role of productive export capacity and regional value chains in translating trade openness into inclusive economic growth. Furthermore, the study identifies human capital quality, infrastructure, and institutional strength as moderating variables that shape the trade-employment nexus. Policy implications advocate for trade strategies that deepen backward linkages, promote industrial upgrading, and foster labour-intensive production. Strengthening intra-African trade under the African Continental Free Trade Area (AfCFTA) framework can further amplify employment spillovers, particularly among young people and women. Ultimately, the study concludes that while merchandise trade remains a potent lever for structural transformation, its employment dividends hinge on targeted policy interventions that align trade expansion with domestic capacity building.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Analysis of agricultural financial provision and investment challenges at the modern stage]]></title>
            <link>https://reference-global.com/article/10.2478/rsep-2025-0015</link>
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            <pubDate>Wed, 31 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Sustainable development is an important component of the modern economy, which implies inclusive economic development. In itself, it is impossible to develop all sectors of the economy equally, since the production of goods and services may be limited by natural, climatic, and geographical conditions. Financing the production of agricultural products and increasing competitiveness remain significant challenges for the Georgian economy and population. In the modern world, any state is trying to create an independent, positive trade balance of agricultural products. After the collapse of the Soviet Union, the development of the potential of Georgian agro-industrialists was particularly hindered by the political and economic-social factors existing in the country, as well as the increase in urbanization flows from rural to urban areas. Therefore, over the past 15–20 years, the state has been constantly trying to develop various strategies or plans that would increase the production of agricultural products and partially satisfy the local market. The introduction and subsidization of modern technologies remains a significant challenge for the development of agriculture for the whole world. Unfortunately, due to the relief situation of Georgia, it is not possible to fully introduce innovative technologies, and subsidies are only provided to a few agricultural products that have export potential. An essential factor for the development of agriculture is the improvement of the economic and social situation of the rural population.]]></description>
            <category>ARTICLE</category>
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