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Nowadays it is — to a certain extent — popular to criticize international tourism to third world countries. These criticisms may base on widely divergent aspects of the phenomenon, ranging from for instance the economic impact to the environmental impact or the psychological impact. Without implicitly suggesting that the non‐economic effects of international tourism in developing countries are unimportant we will concentrate in the following on the economic impact. The reason for this is twofold:

Gross state product for the eight BEA regions are tested for stationarity and for cointegration with national gross domestic product. All eight regional GSP and GDP are characterized by a random walk. None of the eight regional GSP are cointegrated with GDP. Between the regions, the results are mixed, however we conclude that there is no cointegration between any of the regions. The results imply that there is no equilibrating mechanism that keeps the regions from drifting apart from each other or from national GDP.

Examines the use of Product Life Cycle (PLC) in analyzing the rise and fall in product demand. Applies the cycle stages: product development, introduction, growth, maturity, decline to the demand behaviour of industrial materials such as steel, aluminium, titanium. Relates the demand pattern of the Gross Domestic Product and the relative development of the national economy, e.g. USA. Concludes that the PLC invariably parallels the GDP.

The term “economic growth” refers to the increase of real gross national product or gross domestic product or per capita income. National income or else national product is usually expressed as a measure of total added value of a domestic economy known as gross domestic product (GDP). Generally, GDP measures the value of economic activity within a country during a specific time period. The current study aims to find the most suitable model that adjusts on a time-series data set using Box-Jenkins methodology and to examine the forecasting ability of this model. The analysis used quarterly data for Greece from the first quarter of 1995 until the third quarter of 2019. Nonlinear maximum likelihood estimation (maximum likelihood-ML) was applied to estimate the model using the Broyden-Fletcher-Goldfarb-Shanno (BFGS) algorithm while covariance matrix was estimated using the negative of the matrix of log-likelihood second derivatives (Hessian-observed). Forecasting of the time series was achieved both with dynamic as well as static procedures using all forecasting criteria.

Karl Marx's social capital reproduction theory is his significant contribution to economics. The purpose of this paper is to review the contributions of the exploration of Chinese economists (especially Professor Liu Guoguang) in the concretization of Marx’s social capital reproduction theory combined with socialist construction since 1949.

During this process, Professor Liu Guoguang, a famous Chinese Marxist economist, has made an outstanding contribution by creating a Marxist social capital reproduction model with Chinese characteristics and a distinctive Marxist economic growth model. Professor Liu's exploration is still of crucial practical significance to building a socialist market economy today.

The process and achievements in the sinicization exploration of Marx's social capital reproduction theory were reviewed. With the reform and opening up, fundamental changes have occurred in China's economic system – the centralized planned economic system has been transformed into a socialist market economic system.

The planned management of the national economy is replaced by a macro-regulation system characterized by gross control gradually, and the concepts of agriculture, light industry, and heavy industry, and their intercorrelation are no longer applied in theory and policy. However, the sinicization exploration of Marx's social capital reproduction theory in the older generation of Marxist economists represented by Liu is not only of historical significance but also of important practical significance.

The purpose of this paper is to look behind the veil of the concept of Gross National Happiness (GNH), which has been initiated by the fourth King of Bhutan as an alternative to the traditional development concept of gross national product, by analyzing it as an expression of a particular view of leadership originated in the philosophical tradition of Mahayana Buddhism and exploring its relevance for leadership of sustainable development and sustainable (business) organizations.

Review of literature on GNH in a historical and current context, linking it to trends and concepts in sustainability and leadership. Complemented by author’s observations on regular visits to Bhutan since 2003.

The GNH leadership view consists of a set of principles: first, interrelatedness of economy, society and eco-systems; second, the economy, society and eco-systems can flourish if their needs are served; third, governance is the agent for serving these needs by the creation of societal happiness; and fourth, societal happiness should include the enhancement of subjective happiness and well-being of people. By tracing these principles to the philosophy of Mahayana Buddhism, especially the Bodhisattva ideal, and comparing them to the principles driving sustainability, the paper argues that GNH leadership signifies an innovation in leadership for sustainability.

This paper examines how GNH leadership can be applied to organizational and business sustainability, and how it contributes to the emerging theory and practice of sustainability leadership.

The social relevance of the paper lies in the examination of how GNH leadership can be applied to organizational and business sustainability, and how it contributes to the emerging theory and practice of sustainability leadership.

The paper concludes that GNH leadership – as it corresponds to the principles driving sustainability – represents a new model for sustainability leadership.

This paper aims to analyze the influence of international trade of goods of Croatia in the period from 2001 till 2010. The study shows contribution of exports and imports of goods on the real GDP growth, in time which represented the global economic crisis, of Croatia in comparison to other European countries in the region. International trade has developed as a fast solution from the crisis of every affected national economy.

To determine previous comprehension of the problems of this research, the data were collected by documentary analysis of domestics and foreign scientific and academic literature. The data were complemented by statistics provided by Croatian Bureau of Statistics, Croatian National Bank, Eurostat and authors' own calculations of the data collected. The paper aims to clarify the level of international trade of goods, imports dependency, exports propensity, and degree of openness and involvement of Croatia in the international trade of goods.

This study implies that for the Croatian economy, its growth and the development, it is important to raise profit in exports which would result in higher coverage of imports by exports. Main focus in this research is to explore the Croatian industry, its development, competitiveness and international integration; thereby investigate foreign trade of goods. Exports of goods don't have a significant positive contribution to the realised GDP growth rate of Croatia such as other countries in the region.

It is suggested that international market success depends on the competitive ability of all business subjects included in the international trade.

The aim of this paper is to forecast the office property returns in Helsinki CBD using both short‐run and long‐run econometric specifications. Real economy, monetary and financial market indicators are included in these specifications to explain the variation in office property returns and forecast them. The paper illustrates the steps that analysts can follow to select models based on common diagnostics criteria and ex post forecasting evaluation tests. The findings of this research are in accordance with the results of previous comparative research in Europe and suggest that the growth of the gross domestic product in Finland is a key variable for modelling and forecasting office property returns in Helsinki. Moreover, the analysis indicated that information from a long‐run relationship of the gross domestic product and the real office return index should be monitored in the future as a way of improving the forecasts through an error correction model. It is predicted that Helsinki office returns will show a growth of about 7.1 per cent on average in the period 1999‐2001.