In a Search for Equity: Do Direct Payments under the Common Agricultural Policy Induce Convergence in the European Union?

The Progress of the Development of a Climate-smart Agriculture in Europe: Is there Cohesion in the European Union?

The development of climate-smart agriculture (CSA) is crucial in ensuring the creation of a low-carbon society and mitigation of climate change. These tasks require concerted actions from multiple stakeholders since the very concept of CSA is rather complex and requires multi-dimensional consideration. This study defines and applies various indicators to evaluate the development of CSA in the European Union (EU). To do this, three different multi-criteria decision-making methods, namely Simple Additive Weighting (SAW), Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) and Vlse Kriterijumska Optimizacija Kompromisno Resenje (VIKOR; multi-criteria optimization and compromise solution), were employed for the construction of a composite indicator. A combination of both objective (entropy) and subjective (Analytic Hierarchy Process) weighting techniques was utilized to derive the weights of the indicators. The leaders in the EU in terms of CSA are Austria, Denmark and the Netherlands, whereas the countries with the lowest levels of CSA development are Cyprus, Greece and Portugal. This study also revealed divergence in the development of these practices in the EU-24 for the period 2004-2019. Thus, a more inclusive approach is needed to ensure the spread of climate-smart ideas in European agriculture sectors.

Fintech Innovations in the Financial Service Industry

Digital transformation underscored by the fourth industrial revolution has led to the emergence of sophisticated technology-enabled financial services known as fintech, that has swiftly altered traditional financial services space. Global adoption of fintech is rapidly increasing due to its disruptive nature and is largely embraced by participants who are underserved by traditional financial service providers. Global investments in fintech are growing rapidly year by year owing to increased interconnectivity with the digital revolution. Fintech is expansive, engulfing a plethora of innovative applications in various services including payments, financing, asset management, insurance, etc. There exists a gap in the literature and visualization research on impact and future pathway of fintech innovations in payments and financial services and role of financial regulations. This study aims to enrich the understanding of fintech innovations in payments and financing and investigate the correlation and significance of regulatory framework in maintaining a fair ecosystem. With this objective, an extant systematic review was performed using research articles published in peer-reviewed journals for the period 2014–2022 when there has been a burgeoning of interest in ‘fintech’ globally. The findings of this study contribute to the theoretical constructs of fintech innovations in the financial services industry and show that such innovations play a crucial role in shaping the nature of future of business. The results of this study have implications for researchers who could deploy this research as a reference point to get a holistic insight and a detailed mapping of innovations in fintech.

The Impact of RDP Measures on the Rural Development: The Case of Romania

The goal of this study is to analyze the development of rural areas in Romania on the basis of the absorption of both the European non-reimbursable funds and the national funds for the modernization of the infrastructure of villages and communes. The aim of the article is to carry out thorough empirical research on the process of rural development in Romania as a facet of the EU’s overall rural development. Thus, in order to obtain relevant results in connection with the pursued goal, we will be using hierarchical cluster analysis to observe the effects of the expenses financed through the National Rural Development Program (NRDP) on the development of rural areas. In accordance with the methodological approach of research, our goal is to give a picture of the way in which Romania’s counties (NUTS 3) were clustered at the beginning of the multi-annual planning (2014) as well as at the end of the planning period, in 2020, and to point out a series of practical and concrete aspects generated by the opportunities that the rural areas have had in terms of attracting structural funds. Based on the conducted analysis, we can say that a series of positive aspects can be put in the spotlight as a result of the existence of the European irredeemable funds, which engender positive direct and indirect effects on both the economy and the population’s standard of living.

Changes in the Structure of Crop Production in Slovakia after 2004 Using an Example of Selected Crops

Spatial changes in the structure of crop production have the potential to impact economics and food security in Slovakia. The objective of this study was to analyze the modification of harvested areas, the production and yields of selected crops—cereals, oilseeds, and perennial forages—and their food and non-food use from 2004 to 2020. The results indicated that an increase in the cultivation of large-scale crops (cereals and oilseeds) has occurred at the expense of crops produced for food. Changes in the structure of plant production indicate negative risk factor that reduce the competitiveness of the agricultural sector and threaten Slovakia’s food security. Moran’s global and Moran’s local autocorrelation index were used in the synthesis of the findings. A spatial autocorrelation analysis of the harvest areas of selected crops was used as a practical approach to locate statistically significant areas with high or low crop harvest. This manifested itself as positive spatial autocorrelation.

The Economic Resilience of the Austrian Agriculture since the EU Accession

Ensuring sustainable and economically viable agriculture requires economic resilience before, throughout, and after a shock. This paper studies the economic resilience of Austrian agriculture within the period of 1995 to 2019. However, methods for tracking changes in economic resilience have so far seen only limited application in agriculture. The index for the analysis and measurement of economic resilience is based on four areas: financial flexibility, stability in following the development path, diversification of activities, and diversification of export markets. As results show, Austrian agriculture is of interest because of the very high level of economic resilience, ranging from 0.83 to 0.92 in the period researched, thereby displaying a high capacity to absorb shocks. Generally, these results indicate that Austrian agriculture is forgiving of shocks and thus very economically resilient. These results provide context for developing generalizations on economic resilience in agriculture and its fundamental function for producing effective food security within a sustainable transition path. Some concluding suggestions propose possible future areas of research.