Academic Journal of Business, Administration, Law and Social Sciences

International Institute For Private Commercial And Competition Law (IIPCCL)
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  • An introduction to Hamlet's problem

    Hamlet, the famous tragedy by William Shakespeare is undoubtedly one of the greatest plays ever writt en in English language and one of the most prominent literary works of all world literature. For centuries, readers, critics and scholars alike have been fascinated by the enigmatic and mysterious character of Prince Hamlet, the play's protagonist. They have been trying to fi nd the answer to the most puzzling question regarding Hamlet: Why does not the Prince kill Claudius right away avenging thus his father's death? - otherwise known as Hamlet's problem. For that purpose, many theories have been developed and many solutions have been elaborated by the brightest people the world has ever known. This article att empts to address the issue of Hamlet's problem by introducing several critical interpretations provided by the best literary minds the world has ever known and modestly endeavors to unfold the perspective of its author regarding this topic. Keywords: murder, revenge, suicide, insanity, Hamlet's problem

  • Meaning and legal effect of Remission under Kosovo Arbitration Law in comparative perspective

    In this work, it will be discussed defi nition, meaning and legal eff ect of remission or rearbitration procedure according to Kosovo Arbitration Law (hereinaft er: KAL) comparing with UNCITRAL Model Law (hereinaft er: Model Law) and diff erent national arbitration laws. In particular, this paper will review two main points: Firstly, the purpose of remission. Secondly, Remission or re-arbitration objective is to suspend or set aside domestic award. Furthermore, the paper will assess, analyse and interpret KAL provisions of article 36 (4) and compare those to Model Law and other national legislations. The purpose of this study is to elaborate, examine, analyse, compare and interpret provisions determining meaning, legal eff ect of remission and identify existing gaps in the KAL. Article 36 (4) of the KAL which determine re-arbitration diff ers from article 34 (4) of the Model Law. The diff erence of remission under the KAL with the Model Law provisions is substantial. Firstly, the fi rst essential distinction is that, according to the KAL, the court ex-offi cio is empowered to set aside an award whereas according to Model Law, the court has jurisdiction to suspend arbitration proceedings. Secondly, according to KAL, the court ex-offi cio may set aside arbitration award aft er the party has fi led a claim, while under Model Law the parties are authorized to request that the proceedings be suspended and the case remit to arbitral tribunal. In end, it could be concluded that remission provides for the temporary termination of the arbitration procedure in order to give the tribunal time to avoid the defi ciencies that would lead to a sett ing aside an award. Regarding the legal consequences of a sett ing aside award and the interest of the parties, the KAL remains silent. Nevertheless, because an award of the arbitral tribunal is set aside by the court, it can be concluded that that according to the KAL provisions, parties decide how the dispute resolution process will proceed. Keywords: arbitration, remission, sett ing aside, suspend, UNCITRAL Model Law

  • Servitudes and types of property (real) servitudes by legislation in Kosovo

    This paper will address the topic of servitudes with special emphasis on property servitudes, always based on the provisions of positive law in the Republic of Kosovo. Since Roman law, the right of ownership over foreign property was unclear especially when it came to servitudes. In Roman law there was not a general category regulated by general norms, but a set of typical fi gures of servitudes with common characteristics Despite what was discussed in Roman law we can say that in all legal systems, there is necessarily a need for the existence of subjective real rights over one's own thing and over a foreign thing. In general, in addition to the property right, there is the fact that there are other legal property rights, and aft er the property right, the right of servitude, otherwise called as a property right over the foreign thing, is considered the most dominant. This right of the subject over the foreign thing exists when the holder uses the foreign thing for his own needs or his own thing, in fact the thing which is owned by another subject. The purpose of this paper is to clarify how the right of servitude is legally defi ned by concretizing it in property servitudes. The paper's content is related to the right of property servitudes, which speaks extensively about how the right created by legal work, court decision or even by law, is created, acquired, protected and extinguished! Keywords: The right of servitude, property servitudes, creation-acquisition of servitude, protection of servitude, termination of servitude

  • Achievements and challenges about re-evaluation process of judges and prosecutors in the Republic of Albania

    The constitutional reform related to the system of justice conducted in 2016 in Albania, was welcomed with a positive enthusiasm by all stakeholders, civil society, business groups, including the political class who voted for this reform unanimously. One of the goals of the implementation of this reform is not only the restoration of new justice institutions and the strengthening of existing ones but above all the re-evaluation of all judges and prosecutors who are part of the judiciary in three main aspects: - asset valuation, a background, and integrity check to discover the links to organized crime and a qualifi cation assessment. The total number of all judges and prosecutors in the Republic of Albania is over 800 subjects, starting from the courts of the fi rst instance and the prosecutor's offi ces near them to the Constitutional Court. The re-evaluation process is carried out by two new constitutional institutions that are established and function for a transitional period, the Independent Qualifi cation Commission (IQC) as a fi rst instance with a mandate of 5 years, and the Special Appeal Chamber (KPA) as an appeal body with a 9-year term. More than three years have passed since the beginning of the activity of these two institutions and the results they have given are very signifi cant when almost half of the entire body of veto magistrates has not gone through this process, while a considerable number of judges have resigned. On the other hand, many constitutional and legal issues have arisen concerning the vacancies created in the Constitutional Court, the High Court, and other judicial and prosecutorial bodies, the quality of the new magistrates who will become part of the judiciary, and meritocracy or not by those magistrates who have stayed in the system to those who have left . The results provided so far by the Qualifi cation Commission, The Special Appeal Chamber, have increased public confi dence in the cleansing of the judiciary by judges and prosecutors who do not deserve to be part of the judiciary, but at the same time there have been delays in litigants, to get a faster and bett er service due to vacancies created in the system and the loss of real independence that must demonstrate magistrates who have not yet been re-evaluated. The purpose of implementing this reform is not only to meet one of the standards related to the integration of this country in the European Union but also to increase the quality of service in terms of ensuring the fair justice in favor of citizens and business groups. It remains to be seen how this reform guarantees these goals with a positive character, based on the results that have been produced during these four years, as well as on what is intended to be achieved in the future, for its fi nal implementation. Keywords: Achievements, Process of judges and prosecutors, Republic of Albania

  • Impact of Public Debt on the Economy in the Republic of Kosovo - Empirical Evidence

    In addition to the various economic policies that governments use to achieve economic objectives and increase social welfare, public debt as a source of fi nancing of the state budget is also used by governments of diff erent countries. However, other macroeconomic indicators have a tremendous role to play in determining the level of short-term and long-term debt or the share of domestic debt and external debt. The aim of this paper is to investigate the impact of public debt on the economy of the Republic of Kosovo, using secondary annual data from 2009- 2019. Data analysis was performed using multiple regression OLS (Ordinary Least Square). The results of the analysis confi rm that public debt has a positive but statistically insignifi cant impact on the country's economy. Total debt also has a low positive correlation with GDP. This research will also analysis the theoretical and empirical literature related to public debt. In order for the eff ect of public debt to be higher on the economy and increase social welfare, the government must use these funds productively to fi nance various investment projects. Keywords: Public debt, external and internal public debt, short-term and long-term debt, budget defi cit, economic growth

  • Incentive Issues Underlying the Budget Process in Albania

    Albania has been reforming its policy, planning and budgeting systems since the end of communism and now, in principle, has sound public expenditure management (PEM) systems and procedures within an Integrated Planning System (IPS). In practice, the PEM system has yet to operate fully as intended. Such reforms take time to implement properly, especially where incentives to implement remain weak or perverse. The 1998 Organic Budget Law created an enabling framework for the budget process that permitt ed, but did not explicitly require, an output focussed system based on medium term planning. Formal rules and regulations explicitly requiring such a system now exist (under the Law on Management of the Budgetary System (LMBS)) but the budget process continues to have weak planning during budget preparation and retains excessive fl exibility during budget implementation. There is a vicious circle: weak planning leads to chaotic budget implementation which requires excessive fl exibility in execution to compensate; the fl exibility in practice is a key disincentive for implementation of the intended PEM system. It also produces an opaque policy, planning and budgeting process. There are four categories of incentives infl uencing the extent and pace of achievement of the ideal system: Political commitment to implementing the ideal system. Civil service commitment to implementing the ideal system. The ability of both the political and technical strata to manage the change from the emerging system to implementation of the ideal system. External infl uences on the implementation of the ideal system. The Integrated Planning System is a sound one. If applied as intended PEM performance will be strong. Some of the incentives for application are weak. The IPS design includes the means of strengthening most of these incentives so continued implementation should bring positive results in PEM performance. The IPS design does not deal with the detail of performance management incentives (job descriptions and organisation missions refl ecting service delivery performance measurement, career development, personal performance appraisal) and these need particular intention. The critical incentives are those for good management not just good budgeting. Good management will deliver good budgeting. Keywords: Incentive Issues, Budget Process, Albania

  • Real Exchange Rate and Foreign Trade Relationship: The Case of Hungary

    Hungary's foreign trade has scored progress in recent years. The result of this progress has brought a positive eff ect on the country's trade defi cit. This situation also raised the question of whether foreign trade is aff ected by exchange rates. The purpose of this study is to evaluate the factors aff ecting the real exchange rate in Hungary from 1995 to 2020. In this study, the Granger causality analysis is used to measure the eff ects of macroeconomic factors on the real exchange rate. This study considers macroeconomic factors like exports and imports. Data of the study have been collected from the World Bank. The results show that there is a signifi cant and positive eff ect of exports on real exchange rate. Also, there is a bidirectional causality relationship from exports to imports. Keywords: real exchange rate, exports and imports

  • Basic concepts of quality and standards

    The basic principle that products and services must meet the basic requirements of users, led to the realization that the specifi cations that defi ne the product does not guarantee that the product will really achieve the required quality. The comparison between revenues and expenditures is the main form of business accounting and provides evidence of profi tability. The business owner or manager can not have a full understanding of the basic information needed to conduct successful corporate operations without proper use of statistics. Before you start with a new business (start-up) you should prepare a feasibility study and business plan for banks and potential investors in order to secure funding. Statistical methods and techniques are scientifi cally based methods and more important in sett ing the scientifi c and working hypothesis in planning and experimental research (computer simulation), processing and presentation of the obtained data and making statistical conclusion from this research. Keywords: Basic concepts, quality, standards

  • Development of Administrative Capacity and Regional Policy EU funds for touristic sector in post crisis

    This paper research provides an overview of European Structural and Investment Funds and Cohesion Policy in light of current trends in public investment. It highlights the importance of quality governance practices and administrative capacity in optimising public investment, and underscores the importance of strong administrative capacity among Managing Authorities in order to boost the eff ectiveness of European Structural and Investment Funds investment. It concludes with a description of the OECD diagnostic framework developed to support administrative capacity building in the context of managing EU funds under Cohesion Policy. Albania, one of the smallest countries in Eastern Europe, has experienced a period of transition marked by sharp economic swings and periods of civil strife. The early phases of decentralization witnessed the transfer of political autonomy, limited administrative and fi scal authority to local governments, inadequate legislation outlining central/local responsibilities, scarce fi nancial resources and developing ITC projects to mange touristic services. In January 2006, the government promulgated a national Strategy for the Decentralization and the Local Autonomy which included laws to strengthen the autonomy of local governments and increase their capacity to manage local infrastructure and services. The Albania Government has in its focus issues related to tourism. Keywords: Socio-demographic, Big push theory, Internet use, Touristic models, Decision making, SWOT analyse, EU Regional Policy, EU Structural Funds

  • Travel agencies - Touristic activities

    The aim of this paper is for the touristic features to be looked as economic activities. We always have to consider that tourism as an activity has its eff ect on the consumer. Every time the tourist consumes products and services from diff erent countries in many activities from which many economic activities are connected which are in service of tourism and touristic consumption. Tourism itself is an economic activity from which with its specifi cs aff ects in production activities. We always have to be clear on its heterogeneity that aff ects the social product and in the creation of social income, respectively the rise of its production. This is the clearest representation that guides us to access the study of tourism from the economic aspect seeing the role and its importance for the development of society in today's time. Keywords: Tourism, activities, Travel Agency, Organization, Ministry of Industry and Trading

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