Mykhaylo Heyenko

The priority task for ensuring the economic security of a country, which is especially noticeable in the rapidly changing conditions of the contemporary global world, is to forecast challenges and threats. Economic security is one of the necessary conditions for state development, which provides guidelines for making major social and economic decisions. There are a few studies on the determinants of the economic security and no data about security determinants that are required to monitor it. The study aims to identify possible links between leading determinants of the economic security. For this purpose, on the example of Ukraine, causal links between the formation of real GDP (as the leading determinant that characterizes the economic security of the state), 11 determinants that indicate the level of international economic development, and 6 determinants of social development for the period 2014–2020 were determined. With a 5% level significance, the impact on the volume of real GDP of 14 determinants of state economic security was noted and specific time lags were defined. Besides, the bilateral causal effect and lack of causal connection between individual determinants were mentioned. Findings are helpful for effective public administration. In addition, active measures are needed to combat corruption, shadow and criminal economy, and state protection of domestic producers operating in the military, food, information, and energy security sectors.

Acknowledgment
Alina Bukhtiarova gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0120U100473).

With the rise of micro media, the library’s traditional knowledge services and its publicity and promotion methods have been challenged. This study investigates the marketing and promotion of knowledge services through micro media in university libraries. Based on the dynamic model of knowledge service marketing promotion in university libraries, this paper conducts network research and analysis on the library knowledge service microblog, WeChat, and microfilm marketing of 42 world-class universities in China. The results show that among 42 university libraries, microblog and WeChat have a high opening rate but do not attach importance to late marketing management and maintenance (microblogs’ opening rate is 83.3%, the proportion of people paying attention is 20%). The number of knowledge service outlay exceeds 1,000 accounts (28.6%). The rate of consultation feedback within one day is 17.14%. The official WeChat account number has 97.6% of libraries. The ratio of WeChat push at least once a week is 68.3%, and the rate of consultation feedback within one day is 17.07%. Microfilm marketing is not valued as a whole (the release rate of microfilms is only 9.5%). Successful microfilm marketing (such as Tsinghua University’s “falling in love with the library” series with 7,320 views/day) helps to improve the communication efficiency of knowledge services and brand awareness. This study confirms that micro media marketing has not been fully developed and utilized. University libraries should take user experience, media technology, resource reserve, service content, account publicity, and operation as the starting point to improve user viscosity.

In recent years, although the total funding for higher education by the Chinese government has been increasing year by year, there are still some problems, such as the unreasonable allocation of regional resources and poor funding efficiency. Therefore, it is necessary to evaluate the performance management and analyze government funding in higher education (GFHE). Based on the data envelopment analysis (DEA) model, this paper evaluates the performance of GFHE in 29 provinces in eastern, central, and western areas of China. An empirical analysis is conducted on the influencing factors using the panel Tobit regression model. The results show that from 2008 to 2020, GFHE performance in China is generally high, but offers a “W-shaped” fluctuation rising state. There are significant differences in the performance of different areas, and the scale level of GFHE in the three areas is not wholly consistent with the performance level. In further studies, the performance level of the 29 provinces is divided into three degrees, which are distributed in all three areas. The study also found that the influencing factors of GFHE performance in central, eastern, and western China are also different, and analyzed the positive and negative effects of influencing factors in each area. Finally, the study tests the theoretical hypothesis, and the results are robust.

The purpose of the study is to explore the influence of central bank digital currency on stock markets. To realize the purpose, the TVP-VAR model was built, which determines the impact of volatility of the CBDC attention index (CBDCAI) on the volatility of stock market indices. The study uses a time-varying vector autoregressive model that analyzes weekly data from the first week of January 2015 to the first week of July 2023. The endogenous vector to be assessed by VAR contains CBDCAI and stock market indices of different countries (France: CAC 40, The United States of America: S&P 500, Germany: DAX 40, United Kingdom: FTSE 100, China: SSEC, The Netherlands AEX 25, Switzerland: SMI 20, Japan: Nikkei 225, India: NIFTY 50, Brazil: BVSP, South Korea: KOSPI). The results of the TVP-VAR model show that compared to stock market indices, CBDCAI appeared to be relatively independent and isolated. Interdependence and mutual influence between the digital currency market of central banks and stock markets were also revealed. In addition, CBDC functions primarily as a volatility absorber rather than a source of volatility. Despite the overall ability of the CBDC market to absorb fluctuations in volatility, it may also change its function with the widespread adoption of central bank digital currencies in many countries.