JOURNAL OF SMART ECONOMIC GROWTH

RECENT MACROECONOMIC PERFORMANCE OF THE CUBAN ECONOMY: 2015–2024

2026-05-23T05:24:14+00:00

This paper evaluates the macroeconomic performance of the Cuban economy during the 2015–2024 period, a decade marked by the impact of the COVID-19 pandemic, the tightening of U.S. sanctions, and the accumulation of internal imbalances. Through a descriptive analysis based on official statistics and the estimation of the output gap using the Hodrick-Prescott filter, the dynamics of the real sector, the monetary sector, and public finances are examined. The results reveal a context of stagflation: GDP contracted by 10.9% in 2020 and has not managed to recover to pre-pandemic levels, with signs of a loss of installed productive capacity. In the monetary sphere, the 2021 exchange rate unification (Tarea Ordenamiento) triggered an unprecedented inflationary process. Public finances exhibit persistent fiscal deficits, and fiscal policy still lacks the institutional arrangements to limit quasi-fiscal operations and enable it to fulfill its stabilization function. It is concluded that economic recovery, price stabilization, and the transformation of the regulatory framework require interdependent reforms in the fiscal, monetary, and investment spheres, the proper sequencing of which is critical to their success.

GENDER DISPARITIES AND SEGREGATION IN HIGHER EDUCATION IN ROMANIA: A SECONDARY DATA ANALYSIS OF ENROLLMENT PATTERNS

2026-06-01T05:34:01+00:00

Gender disparities and segregation in the context of higher education manifest in unequal patterns of enrollment across different academic fields, being women more concentrated in areas such as education, health and social sciences and, on the other hand, the men in engineering, technology as well as other STEM-related disciplines. The main objective of this study is to examine patterns of gender disparity and segregation across disciplines while providing an updated empirical overview of the Romanian context by analyzing statistical reports and presenting gender-disaggregated enrollment data across different fields of study in higher education from the academic years 2018–2019 to 2022–2023. The results reveal a consistent, stable and persistent pattern of gender segregation across the different fields of study in Romanian higher education and highlight the continued gendered field selection in this context, which demonstrates a persistent horizontal segregation within the system.

THE EVOLUTION OF THE CONSUMER: FROM HUMAN DECISION-MAKERS TO ALGORITHMIC CONSUMERS, DIGITAL TWINS, AND SYNTHETIC CONSUMERS

2026-06-27T06:21:40+00:00

This article follows the evolution of the consumer concept from traditional models based on the observation of human behavior to advanced digital representations based on artificial intelligence. Through a conceptual analysis of the literature on consumer behavior, digital footprints, algorithmic consumers, digital twins and synthetic consumers, the article proposes an evolutionary framework that explains the progressive transformation of the consumer into a digital entity capable of being modeled, simulated and anticipated. The findings highlight that the development of Big Data, Machine Learning and Large Language Models is fundamentally changing the way researchers and organizations understand, measure and predict consumer behavior. The article discusses the theoretical, managerial and ethical implications of this transformation, including issues of decision autonomy, data privacy, and algorithmic transparency.

AI ADOPTION AND APPARENT LABOR PRODUCTIVITY IN MEDIUM-SIZED ENTERPRISES IN THE EU

2026-08-01T07:03:48+00:00

Artificial intelligence is frequently suggested as a factor that can increase productivity, but its spread among enterprises does not automatically lead to better financial results. The study analyzes the relationship between the adoption of AI and apparent labor productivity in medium-sized enterprises in 25 EU member states, using Eurostat secondary data for 2021 and 2023. The analysis is quantitative, comparative and exploratory and includes descriptive statistics, national rankings, Pearson correlation and simple linear regressions for 2023 levels and changes over the period 2021–2023. In the cross-sectional analysis, AI adoption is positively and significantly associated with productivity (r = 0.652; R² = 0.425). The result is maintained after excluding Luxembourg and after logarithmic transformation of productivity. In contrast, the increase in AI adoption is not significantly associated with the evolution of productivity over the analyzed period. From a human resource management perspective, the results show that technology is linked to better performance when integrated into work organization, skills development, and other complementary practices. However, the data do not support a causal relationship.

SIX DECADES OF FINANCIAL TRANSFORMATIONS IN CUBA (1959–2024)

2026-08-01T07:03:48+00:00

This article analyzes the evolution of the Cuban financial system from the republican origins to 2024, articulating a historical-institutional perspective that goes beyond a chronological description to offer a critical assessment of its performance. The central thesis argues that the successive reconfigurations of the system have responded primarily to political and ideological imperatives rather than to criteria of economic efficiency, which has structurally conditioned its limited capacity to mobilize domestic savings, allocate credit productively, and contribute to sustained economic development. The analysis is structured in six stages: the nationalization of the financial system and the implementation of the single-bank model (1959–1975); its consolidation under Soviet influence and integration into the COMECON (1976–1989); the emergency financial opening during the Special Period, with the partial dollarization of 1993 (1990–2000); recentralization and formal monetary duality (2001–2010); and the unfinished reforms that culminated in the 2021 Tarea Ordenamiento and its inflationary consequences (2011–2024). The study identifies five recurring structural patterns: the reactive nature of reform, the lack of comprehensiveness in transformation plans, the use of external financing as a substitute for internal reform, the subordination of the financial system to central planning, and the systematic accumulation of monetary imbalances. It concludes that overcoming the current crisis requires institutional comprehensiveness and macroeconomic stability as prerequisites for any viable financial reform.

DIGITAL BANKING TECHNOLOGIES AND CUSTOMER SATISFACTION IN NIGERIA’S DEPOSIT MONEY BANKS (DMBS): EVIDENCE FROM PANEL DATA ANALYSIS

2026-08-01T07:03:47+00:00

Customer satisfaction and loyalty have emerged as critical drivers of success in the highly competitive banking sector. However, the dynamic nature of customer preferences, rivalry from fintech companies and other non-traditional financial service, poor customer experiences and unresolved customers' complaints have heightened the challenges commercial banks face in retaining customers and ensuring their satisfaction. Therefore, this study investigates the effect of digital banking technologies on customer satisfaction in Nigeria’s deposit money banks (DMBs). The study adopted ex-post facto research design. The population of the study consisted of 26 commercial banks in Nigeria, while 7 biggest banks in terms of customer base and customer complaints disclosure were purposively selected as the study's sample. The study employed secondary data sourced from annual reports of sampled banks between 2015 and 2023. The study employed pooled ordinary least square (POLS) regression method for the analysis. The results showed that: internet banking with (β = 0.591; p-value = 0.014) and POS banking with (β = 1.069; p-value = 0.015) have significant positive effect on customer satisfaction and loyalty; mobile banking with (β = -1.093; p-value = 0.028) has significant negative effect on customer satisfaction and loyalty; and ATM with (β = -1.816; p-value = 0.118) has insignificant negative effect on customer satisfaction and loyalty. The study concluded that internet banking, mobile banking and POS banking are major determinants of customer satisfaction in Nigeria. Therefore, the study recommended that commercial bank managers should improve mobile banking reliability, ensure regular maintenance of ATM to minimize cash shortages, and create easy channels for customers to provide feedback on digital services.