THE INSTITUTIONAL IMPACT ON TOURISTIC INDUSTRY IN SOUTHERN EUROPEAN UNION COUNTRIES

The tourism industry in Southern European Union (EU) countries is a critical economic sector, significantly contributing to GDP and employment. This paper investigates the role of institutional factors in shaping the tourism industry in these regions, examining how governance, regulatory frameworks, and policy measures influence tourism development. The study focuses on evaluating the institutional impact on tourism through qualitative and quantitative analyses. The findings underscore the importance of effective governance and robust institutional frameworks in fostering a resilient and competitive tourism sector. This research explores the impact of institutional quality on tourism development in a panel of southern countries within the European Union over the period. Tourism development is evaluated using the number of tourist arrivals, with control variables such as GDP growth rate, inflation, higher education, quality of the environment, and trade, representing key determinants of tourism. Institutional quality is gauged using indicators of government effectiveness, political stability, regulatory quality, rule of law, and voice and accountability. The study utilizes the Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Squares (DOLS) estimators to assess the influence of these determinants on tourism development. The findings demonstrate a positive correlation between institutional quality and tourism, providing valuable insights into the role of institutions in tourism management and their impact on the sector.

Fejzulla BEHA - Professor Assistant, Departament of Business and Management, Universum International College, Pristina, Kosovo. fejzulla.beha@universum-ks.org

Antoneta POLO - Associate Professor, Faculty of Economics, University “Eqrem Çabej”, Gjirokastra, Albania. neta_polo@yahoo.com

Carolina PALMA - Professor Assistant, Instituto Politécnico de Beja, Portugal. carolinapalma6f@hotmail.com. (Corresponding Author)

E60, O40

USEFULNESS OF TECHNICAL ANALYSIS IN THE FOREX MARKET: THE EUR/USD PAIR

Financial forecasting is a topic of great interest to the economic and academic community. The ability to predict currency market movements in advance has financial benefits for investors as well as companies. Technical analysis is one of the most well-known methodologies that investors use in financial markets, with the purpose of predicting the direction of asset prices through the analysis of their price history (Hudson & Urquhart, 2021). Therefore, to prepare this study, we sought to study the applicability and usefulness of technical analysis in the foreign exchange market, using, for this purpose, some of the most used tools among investors, namely, trends, supports and resistances, Fibonacci retracements and graphic patterns (Chen, 2010 e Dumiter & TurcaÈ™, 2023). The tools available for technical analysis were applied to the EUR/USD currency pair in 2019. In this study, it was possible to validate the technical analysis tools covered and prove the applicability and usefulness of technical analysis in the foreign exchange market. The tools available for technical analysis, trends, trend and channel lines, support/resistance zones and Fibonacci retracements have demonstrated their validity, as they are useful in predicting possible trend reversal/continuation zones. Reversal chart and candlestick patterns demonstrated their validity, since when found on the charts of the pairs under study, it was possible to verify their effectiveness in predicting trend reversal. Graphic continuation patterns also demonstrated their validity in predicting trend continuation, since after its break, the trend direction prevailed.

Miguel LAMPREIA - Professor Asistant, Faculty of Economics Instituto Politécnico de Beja, Portugal. E-mail:lampreia16@gmail.com

Erjola BARBULLUSHI - Professor Assistant, University “Luigj Gurakuqi”, Shkoder, Albania. erjola.barbullushi@unishk.edu.al

Ismet VOKA - Professor Assistant, Faculty of Economics European University of Tirana, Albania. E-mail:ismet.voka@uet.edu.al, (Corresponding Author)

E12, E4O

TRANSPORTATION NETWORKS AND REGIONAL DEVELOPMENT: THE CONCEPTUAL AND EMPIRICAL FRAMEWORK IN GREECE

This paper examines the importance of transportation networks for the economic and regional development of Greece, focusing on the country’s infrastructure and its road, rail, maritime, and air transport networks. Based on statistical and economic indicators and the application of a multivariate linear regression econometric model, the link between transport and economic and regional development and its complexity is highlighted. The study underlines that the structure and functionality of transportation networks reflect the social and economic needs of their user societies, providing important information on the development dynamics of a country. Through a literature review, technical reports, and empirical analyses, this information can serve as a thematic basis for examining transport networks at both research and policy levels. Overall, this article is addressed to regional researchers and policymakers, highlighting the need for responsible transport planning, which is associated with high opportunity costs and inelastic infrastructure sunk costs.

Dimitrios TSIOTAS - Professor Assistant, Department of Regional and Economic Development, School of Applied Economics and Social Sciences, Agricultural University of Athens, Greece tsiotas@aua.gr (Corresponding Author)

Serafeim POLYZOS - Professor, Department of Regional Development and Planning, University of Thessaly, Volos, Greece spolyzos@uth.gr

R4, R41, R42