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This research seeks to analyze the export differences facing countries in the EU and EFTA. This is firstly to analyze the effects on international trade of the trade bloc of the European Union (EU), and secondly the European Free Trade Association (EFTA), and provide a comparison of these two. This research seeks to analyze exports determinants to answer these two questions. There are two countries selected for this study, the small EFTA country Iceland, and the large EU country UK, before BREXIT. We apply a gravity model in our econometric analysis, with exports dependent on the gross domestic product, population, and geographic distance. We estimate these effects on the exports of both the UK and Iceland in separate equation systems. We conclude that exports from the UK, before BREXIT, are more negatively affected by geographical distance than exports for the EFTA country Iceland, when corrected for gross domestic product and population size.
Guðmundur Óskarsson; Helga Kristjánsdóttir. EU Country and EFTA Country Export Differences. Journal of Risk and Financial Management 2021, 14, 147 .
AMA StyleGuðmundur Óskarsson, Helga Kristjánsdóttir. EU Country and EFTA Country Export Differences. Journal of Risk and Financial Management. 2021; 14 (4):147.
Chicago/Turabian StyleGuðmundur Óskarsson; Helga Kristjánsdóttir. 2021. "EU Country and EFTA Country Export Differences." Journal of Risk and Financial Management 14, no. 4: 147.
This article analyses ways to maintain reservoir sustainability in the area surrounding the Blue Lagoon in Iceland, near the urban settlement of Grindavík on the Reykjanes Peninsula in Iceland. The Svartsengi geothermal power plant operations have pioneered the simultaneous production of electricity and hot water from a geothermal reservoir. The Blue Lagoon is a warm geothermal pool using brine from the power plant. This paper reports on the processes and procedures at the Blue Lagoon and the Svartsengi power station, aimed at increasing sustainability of the geothermal resource by injecting the geothermal brine back to ground, to ensure the geothermal resource sustainability in the area. This paper also discusses and explains in details the reduction of greenhouse gas emissions from geothermal plant operations in Iceland. When the steam from a geothermal reservoir emerges from the ground, it comes up with enough energy to drive turbine generators for electricity production. However, this involves releasing several greenhouse gases into the atmosphere, including hydrogen sulphide (H2S) and carbon dioxide (CO2). This research spotlights a geothermal power plant in Hellisheiði, Iceland, and the use of the CarbFix procedure of capturing and storing carbon dioxide, reducing CO2 emissions from the harnessing of geothermal resources for electricity. CarbFix is a carbon capture and storage (CCS) or carbon mineralization procedure aimed at binding CO2 to rock. This procedure has been used at Hellisheiði power plant for the past decade in Iceland. Scientists have also developed the SulFix procedure, to capture sulphate H2S in ground. These procedures, SulFix and CarbFix, reduce outlet of greenhouse gases by storing them in basalt rock – also referred to as mineral carbonation or carbon capture and storage. This involves dissolving the greenhouse gases in water, and re-injecting them back into the ground through boreholes, in Hellisheiði. This current research also shows the geology in these areas and reports on calculations that have found re-injection of greenhouse gasses to ground to be economically feasible. The paper covers several scenarios that have already been tested to determine the financial feasibility of capture and storage. These have involved calculating the estimated internal rate of return (IRR), the return on investment (ROI) and the present value (NPV). Economic calculations have been made, showing the CarbFix project to be a feasible option contributing to decreased greenhouse gas emissions.
Helga Kristjánsdóttir; Sigríður Kristjánsdóttir. CARBFIX AND SULFIX IN GEOTHERMAL PRODUCTION, AND THE BLUE LAGOON IN ICELAND: GRINDAVÍK URBAN SETTLEMENT, AND VOLCANIC ACTIVITY. Baltic Journal of Economic Studies 2021, 7, 1 -9.
AMA StyleHelga Kristjánsdóttir, Sigríður Kristjánsdóttir. CARBFIX AND SULFIX IN GEOTHERMAL PRODUCTION, AND THE BLUE LAGOON IN ICELAND: GRINDAVÍK URBAN SETTLEMENT, AND VOLCANIC ACTIVITY. Baltic Journal of Economic Studies. 2021; 7 (1):1-9.
Chicago/Turabian StyleHelga Kristjánsdóttir; Sigríður Kristjánsdóttir. 2021. "CARBFIX AND SULFIX IN GEOTHERMAL PRODUCTION, AND THE BLUE LAGOON IN ICELAND: GRINDAVÍK URBAN SETTLEMENT, AND VOLCANIC ACTIVITY." Baltic Journal of Economic Studies 7, no. 1: 1-9.
This paper analyses Foreign Direct Investment (FDI) investment in Ireland and Iceland from other European countries during two periods, i.e., the pre-financial crisis period of 2000–2007 and the financial crisis period of 2008–2010. The aim of this research is to determine what made the countries interesting to foreign investors in both good and bad times; and, secondly, to examine whether European Union membership (and the Euro) made a difference in this respect. The results were obtained by using data from the OECD, the World bank, and other sources. The model constructed for the study applies the inverse hyperbolic sine transformation of the gravity model, which is a novel approach. The results demonstrate that before the financial crisis of 2008, European Union (EU) membership did not help Ireland attract more FDI from other EU countries. However, once it had been hit by the crisis, Ireland attracted more FDI from other EU countries. Iceland, on the other hand, which is not an EU country, attracted FDI from non-EU countries rather than from EU countries before the financial crisis. After the crisis, however, the origin within Europe, of FDI in Iceland had no significant effect on the flow of FDI into the country.
Helga Kristjánsdóttir; Stefanía Óskarsdóttir. European FDI in Ireland and Iceland: Before and after the Financial Crisis. Journal of Risk and Financial Management 2021, 14, 23 .
AMA StyleHelga Kristjánsdóttir, Stefanía Óskarsdóttir. European FDI in Ireland and Iceland: Before and after the Financial Crisis. Journal of Risk and Financial Management. 2021; 14 (1):23.
Chicago/Turabian StyleHelga Kristjánsdóttir; Stefanía Óskarsdóttir. 2021. "European FDI in Ireland and Iceland: Before and after the Financial Crisis." Journal of Risk and Financial Management 14, no. 1: 23.
Does higher value-added tax (VAT) impact tourism demand in Europe? The research provides unique World Bank data estimation of the marginal and nominal effects on the number of tourists visiting Europe. The sample of data includes tourists listed by the World Bank from 1995 to 2016, also VAT on European from the trade association of hotels, restaurants and cafes HOTREC is applied to capture the effects on the tourism industry. Findings indicate that tax increase in the form of VAT not to influence tourist inflow to Europe. Also, findings do not indicate the ‘close to maturity’ tourism in Europe to be more sensitive to tax than ‘still on the growth path’ countries, contrary to suggestions by some previous European research.
Helga Kristjánsdóttir. Tax on tourism in Europe: Does higher value-added tax (VAT) impact tourism demand in Europe? Current Issues in Tourism 2020, 24, 738 -741.
AMA StyleHelga Kristjánsdóttir. Tax on tourism in Europe: Does higher value-added tax (VAT) impact tourism demand in Europe? Current Issues in Tourism. 2020; 24 (6):738-741.
Chicago/Turabian StyleHelga Kristjánsdóttir. 2020. "Tax on tourism in Europe: Does higher value-added tax (VAT) impact tourism demand in Europe?" Current Issues in Tourism 24, no. 6: 738-741.
The global financial crisis affected the flows of foreign direct investment (FDI). This study focuses on two countries in the midst of the financial crisis: Iceland with IMF backup, and Ireland with ECB backup. The research focus is on the situation from the broad perspective of international economics and political atmosphere, combining government decisions with economic consequences. We analyze inward foreign direct investment, incorporating factors like economic size and stock market firms, receiving portfolio investment, rather than FDI. Our findings indicate that before the crisis the economic wealth in the domestic market to have positive effects on FDI, and firms receiving portfolio investment on the stock market are competing with FDI. This is the case for both Ireland and Iceland. However, after the crisis, these factors have insignificant impact on FDI.
Helga Kristjánsdóttir; Stefanía Óskarsdóttir. EU-COUNTRY AND NON-EU-COUNTRY AT THE TIME OF CRISIS: FOREIGN DIRECT INVESTMENT. Baltic Journal of Economic Studies 2020, 6, 19 -23.
AMA StyleHelga Kristjánsdóttir, Stefanía Óskarsdóttir. EU-COUNTRY AND NON-EU-COUNTRY AT THE TIME OF CRISIS: FOREIGN DIRECT INVESTMENT. Baltic Journal of Economic Studies. 2020; 6 (3):19-23.
Chicago/Turabian StyleHelga Kristjánsdóttir; Stefanía Óskarsdóttir. 2020. "EU-COUNTRY AND NON-EU-COUNTRY AT THE TIME OF CRISIS: FOREIGN DIRECT INVESTMENT." Baltic Journal of Economic Studies 6, no. 3: 19-23.
This paper looks at the correlation between aid inflow and foreign direct investment inflow to the heavily indebted poor countries Malawi, Mozambique and Ghana, classified as developing countries. Data covers World Bank measures for aid and foreign direct investment in these countries. Also, crop production index is accounted for, as well as current account balance, and the gross domestic product of the countries analyzed. Dataset runs from 1970 through 2004, using a simultaneous equation system to determine the interrelation. Due to the occasional small scale of flow, the inverse hyperbolic sine function is used, rather than a logarithmic function. Results indicate that when the sample countries experience a higher income per capita, complementary effects diminish at the cost of supplementary effects. Therefore, FDI can be considered to replace aid after a certain development has been reached within the developing economies analyzed. The answer to the paper title is yes, investment does replace aid as countries become more developed.
Helga Kristjánsdóttir; Helga Kristjansdottir. DOES INVESTMENT REPLACE AID AS COUNTRIES BECOME MORE DEVELOPED? Baltic Journal of Economic Studies 2019, 5, 256 -261.
AMA StyleHelga Kristjánsdóttir, Helga Kristjansdottir. DOES INVESTMENT REPLACE AID AS COUNTRIES BECOME MORE DEVELOPED? Baltic Journal of Economic Studies. 2019; 5 (2):256-261.
Chicago/Turabian StyleHelga Kristjánsdóttir; Helga Kristjansdottir. 2019. "DOES INVESTMENT REPLACE AID AS COUNTRIES BECOME MORE DEVELOPED?" Baltic Journal of Economic Studies 5, no. 2: 256-261.
This research focuses on how cultural and geographical distance affect trade. The question is whether UK exports are similarly affected by Hofstede national culture distance and geographical distance. OECD data is applied to the United Kingdom’s exports as well as Hofstede cultural distance. The research also accounts for the trading countries’ economic size, as well as their market size, in order to account for economies of scale. Results indicate that exports are more impacted by geographical distance than the cultural distance between the UK and its main trading partners.
Helga Kristjánsdóttir; Þórhallur Örn Guðlaugsson; Svala Guðmundsdóttir; Gylfi Dalmann Aðalsteinsson; Helga Kristjansdottir. Cultural and geographical distance: effects on UK exports. Applied Economics Letters 2019, 27, 275 -279.
AMA StyleHelga Kristjánsdóttir, Þórhallur Örn Guðlaugsson, Svala Guðmundsdóttir, Gylfi Dalmann Aðalsteinsson, Helga Kristjansdottir. Cultural and geographical distance: effects on UK exports. Applied Economics Letters. 2019; 27 (4):275-279.
Chicago/Turabian StyleHelga Kristjánsdóttir; Þórhallur Örn Guðlaugsson; Svala Guðmundsdóttir; Gylfi Dalmann Aðalsteinsson; Helga Kristjansdottir. 2019. "Cultural and geographical distance: effects on UK exports." Applied Economics Letters 27, no. 4: 275-279.
Helga Kristjansdottir; Á. Margeirsson. Geothermal Cost and Investment Factors. Reference Module in Earth Systems and Environmental Sciences 2019, 1 .
AMA StyleHelga Kristjansdottir, Á. Margeirsson. Geothermal Cost and Investment Factors. Reference Module in Earth Systems and Environmental Sciences. 2019; ():1.
Chicago/Turabian StyleHelga Kristjansdottir; Á. Margeirsson. 2019. "Geothermal Cost and Investment Factors." Reference Module in Earth Systems and Environmental Sciences , no. : 1.
Helga Kristjánsdóttir. Tourism in a Remote Nordic Region: Vat, Internet, Oil, English, Distance, Hofstede, and Christianity. Cogent Social Sciences 2019, 5, 1 .
AMA StyleHelga Kristjánsdóttir. Tourism in a Remote Nordic Region: Vat, Internet, Oil, English, Distance, Hofstede, and Christianity. Cogent Social Sciences. 2019; 5 (1):1.
Chicago/Turabian StyleHelga Kristjánsdóttir. 2019. "Tourism in a Remote Nordic Region: Vat, Internet, Oil, English, Distance, Hofstede, and Christianity." Cogent Social Sciences 5, no. 1: 1.
Helga Kristjansdottir. Country Competitiveness: an Empirical Study. Sustainable development of the Baltic Sea Region 2017, 9, 31 -44.
AMA StyleHelga Kristjansdottir. Country Competitiveness: an Empirical Study. Sustainable development of the Baltic Sea Region. 2017; 9 (2):31-44.
Chicago/Turabian StyleHelga Kristjansdottir. 2017. "Country Competitiveness: an Empirical Study." Sustainable development of the Baltic Sea Region 9, no. 2: 31-44.
The objective is to analyse if international trade is affected by different national cultures. International trade of 21 World Bank listed countries is estimated as function of the Hofstede cultural dimensions, gross domestic product and population. First, we estimate the combined Hofstede culture dimensions and find significant positive effects on countries’ international trade. Secondly, we decompose the Hofstede culture dimensions and estimate the effects of each separate dimension on international trade, finding only the MAS dimension to significantly affect international trade. We estimate additional equation versions to account for occasional trade restrictions with no international trade, as well as estimating how international trade varies between years. These additional estimations further support our original findings, and therefore act as robustness check.
Helga Kristjánsdóttir; Þórhallur Örn Guðlaugsson; Svala Guðmundsdóttir; Gylfi Dalmann Aðalsteinsson; Helga Kristjansdottir. Hofstede national culture and international trade. Applied Economics 2017, 49, 5792 -5801.
AMA StyleHelga Kristjánsdóttir, Þórhallur Örn Guðlaugsson, Svala Guðmundsdóttir, Gylfi Dalmann Aðalsteinsson, Helga Kristjansdottir. Hofstede national culture and international trade. Applied Economics. 2017; 49 (57):5792-5801.
Chicago/Turabian StyleHelga Kristjánsdóttir; Þórhallur Örn Guðlaugsson; Svala Guðmundsdóttir; Gylfi Dalmann Aðalsteinsson; Helga Kristjansdottir. 2017. "Hofstede national culture and international trade." Applied Economics 49, no. 57: 5792-5801.
One way of looking at the flow of tourists is to view it as trade flow, analyzing people rather than goods or services. This research applies a gravity model to estimate tourist flows as a function of distance and economics as well as market size. The explanatory variables account for gross domestic product, population, oil price, tourism receipts, exchange rates, distance, skilled labor and regional trade agreements. Findings indicate that educated tourists are more interested in visiting the country and higher wealth also increases their willingness to visit. Moreover, tourists arriving from popular tourist destinations are found to be more eager to visit, although travel distance and higher fuel price negatively impacts their interests. Finally, if the tourist home country has regional trade agreement membership they are less willing to visit, although this isnot affected by the strength of their local currency.
Helga Kristjansdottir. The Longitude and Latitude of Trading in Tourists. Journal of Tourism Research & Hospitality 2017, 6, 1 .
AMA StyleHelga Kristjansdottir. The Longitude and Latitude of Trading in Tourists. Journal of Tourism Research & Hospitality. 2017; 6 (2):1.
Chicago/Turabian StyleHelga Kristjansdottir. 2017. "The Longitude and Latitude of Trading in Tourists." Journal of Tourism Research & Hospitality 6, no. 2: 1.
Helga Kristjansdottir. Эмпирическое исследование национальной конкурентоспособности. Baltijskij region 2017, 9, 44 -60.
AMA StyleHelga Kristjansdottir. Эмпирическое исследование национальной конкурентоспособности. Baltijskij region. 2017; 9 (2):44-60.
Chicago/Turabian StyleHelga Kristjansdottir. 2017. "Эмпирическое исследование национальной конкурентоспособности." Baltijskij region 9, no. 2: 44-60.
Helga Kristjansdottir. Foreign direct investment in the hospitality industry in Iceland and Norway, in comparison to the Nordics and a range of other OECD countries. Scandinavian Journal of Hospitality and Tourism 2015, 16, 395 -403.
AMA StyleHelga Kristjansdottir. Foreign direct investment in the hospitality industry in Iceland and Norway, in comparison to the Nordics and a range of other OECD countries. Scandinavian Journal of Hospitality and Tourism. 2015; 16 (4):395-403.
Chicago/Turabian StyleHelga Kristjansdottir. 2015. "Foreign direct investment in the hospitality industry in Iceland and Norway, in comparison to the Nordics and a range of other OECD countries." Scandinavian Journal of Hospitality and Tourism 16, no. 4: 395-403.
This research seeks to analyze the S-shape of the Butler's tourist area cycle of evolution in order to capture the maximum tourist level. It is the first time this type of economic regression modeling is performed for the Butler's tourist area cycle of evolution, referred to as the tourism area life cycle (TALC) model. Also, this is the very first time the cycle is applied to forecast a potential peak in inbound tourists in a particular country and sample of countries. To capture the non-monotonic relationship of the cycle, a fifth-degree polynomial is put forward, accounting for government, banks, roads, skilled labor, and Internet application. Results indicate that the S-shape of the Butler's tourist area cycle of evolution can be captured with a polynomial function for a range of OECD countries, as well as for Norway and Iceland combined and for Iceland solely. This can be interesting as well as useful for tourism researchers seeking to explain the flow of tourists. The main implication of this study to managers and tourism policy planners is the potential to apply the TALC model to estimate development and potential peaks in the tourism industry in advance, years before the tourist level reaches maturity at the top.
Helga Kristjánsdóttir; Helga Kristjansdottir. Can the Butler's Tourist Area Cycle of Evolution Be Applied to Find the Maximum Tourism Level? A Comparison of Norway and Iceland to Other OECD Countries. Scandinavian Journal of Hospitality and Tourism 2015, 16, 61 -75.
AMA StyleHelga Kristjánsdóttir, Helga Kristjansdottir. Can the Butler's Tourist Area Cycle of Evolution Be Applied to Find the Maximum Tourism Level? A Comparison of Norway and Iceland to Other OECD Countries. Scandinavian Journal of Hospitality and Tourism. 2015; 16 (1):61-75.
Chicago/Turabian StyleHelga Kristjánsdóttir; Helga Kristjansdottir. 2015. "Can the Butler's Tourist Area Cycle of Evolution Be Applied to Find the Maximum Tourism Level? A Comparison of Norway and Iceland to Other OECD Countries." Scandinavian Journal of Hospitality and Tourism 16, no. 1: 61-75.
Investment made by investors in a foreign country can be of several types. It is a portfolio investment when less than 10 %, however classified as foreign direct investment when 10 % or more. Foreign direct investment flow measures the net incoming investment in the country, however foreign direct investment stock capture the accumulated investment made over many years. By undertaking foreign direct investment, firms become multinationals. Foreign direct investment enterprises may, for example, be in the form of subsidiaries, associates or branches.
Helga Kristjansdóttir; Helga Kristjansdottir. Multinational Activities and Foreign Direct Investment. Understanding the Bigger Energy Picture 2015, 31 -39.
AMA StyleHelga Kristjansdóttir, Helga Kristjansdottir. Multinational Activities and Foreign Direct Investment. Understanding the Bigger Energy Picture. 2015; ():31-39.
Chicago/Turabian StyleHelga Kristjansdóttir; Helga Kristjansdottir. 2015. "Multinational Activities and Foreign Direct Investment." Understanding the Bigger Energy Picture , no. : 31-39.
This book provides fascinating examples of the ways renewable and sustainable energy can support economic growth, which will be illuminating for academic researchers and students, as well as those interested in green investment opportunities.The distinctive glacial, volcanic and oceanic environments of Iceland and Greenland supply abundant renewable energy resources in the form of hydropower and geothermal energy. As one of the few nations in the world with 100% renewable electricity production, Iceland is a compelling case study of a sustainable energy driven economy. Consideration of Greenland provides an interesting contrast, as its enormous potential for hydropower scale-up has only been minimally harnessed. The variable and fixed cost factors governing further expansion and export of the regions’ sustainable power via sub-sea cable are detailed.
Helga Kristjánsdóttir. Sustainable Energy Resources and Economics in Iceland and Greenland. Understanding the Bigger Energy Picture 2015, 1 .
AMA StyleHelga Kristjánsdóttir. Sustainable Energy Resources and Economics in Iceland and Greenland. Understanding the Bigger Energy Picture. 2015; ():1.
Chicago/Turabian StyleHelga Kristjánsdóttir. 2015. "Sustainable Energy Resources and Economics in Iceland and Greenland." Understanding the Bigger Energy Picture , no. : 1.
Scientists have sought for processes to reduce greenhouse gas emissions when harnessing geothermal resources, for the power intensive industry and other applications. Carbon dioxide CO2 is among the greenhouse gases emitted when harnessing a geothermal reservoir. The CarbFix pilot program implies reduction of greenhouse gases by injecting and storing CO2 in ground, a process referred to as carbon capture and storage. The procedure implies dissolving Carbon dioxide CO2 in water and pumping it into basalt rock, to prevent it from entering into the atmosphere.
Helga Kristjánsdóttir; Helga Kristjansdottir. The CarbFix Procedure. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications 2014, 51 -57.
AMA StyleHelga Kristjánsdóttir, Helga Kristjansdottir. The CarbFix Procedure. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications. 2014; ():51-57.
Chicago/Turabian StyleHelga Kristjánsdóttir; Helga Kristjansdottir. 2014. "The CarbFix Procedure." Tunable Low-Power Low-Noise Amplifier for Healthcare Applications , no. : 51-57.
Power intensive industry operations involve clean energy applications including usage of geothermal energy. Application of geothermal energy has been successfully practiced in Iceland for multinational firms within the aluminum industry, and has accounted for about one fourth of all energy provision in the country. Firms within the power intensive industry in Iceland often use geothermal energy together with hydropower energy. Harnessing of geothermal resources involves minimal emission of geothermal gases, and current technology allows for reinjection of these gasses back to ground.
Helga Kristjánsdóttir. The Geothermal Application. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications 2014, 33 -39.
AMA StyleHelga Kristjánsdóttir. The Geothermal Application. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications. 2014; ():33-39.
Chicago/Turabian StyleHelga Kristjánsdóttir. 2014. "The Geothermal Application." Tunable Low-Power Low-Noise Amplifier for Healthcare Applications , no. : 33-39.
One of the advantages of operating the power intensive industry is the potential access to clean energy, which is increasingly sought for with the demand for less environmental effects from operations. Hydropower energy is an example of clean energy, generated by harnessing waterfalls. Hydropower is commonly used within the power intensive industry for aluminum production. Majority of the hydropower generated in Iceland is applied by the power intensive industry.
Helga Kristjánsdóttir. The Hydropower Application. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications 2014, 25 -31.
AMA StyleHelga Kristjánsdóttir. The Hydropower Application. Tunable Low-Power Low-Noise Amplifier for Healthcare Applications. 2014; ():25-31.
Chicago/Turabian StyleHelga Kristjánsdóttir. 2014. "The Hydropower Application." Tunable Low-Power Low-Noise Amplifier for Healthcare Applications , no. : 25-31.