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Development of occupational pension schemes’ market

Rozwój rynku pracowniczych programów emerytalnych

Author(s): Agnieszka Parlińska / Language(s): Polish / Issue: 167/2011

Keywords: occupational pension schemes; work contract; employee pension funds; investment fund

The article presents the role and importance of the occupational pension schemes’ market in Poland. The analysis’s results of quantity and the structure of pension programmes with regard to: their registered forms, participants, contribution’s construction, value of assets, payments and transfers are introduced. At the same time the legal aspects of the contribution’s construction, payments, transfers and structure of the occupational pension schemes are presented.

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Criteria of allocating general subsidy to local government units in Polish public finance system

Kryteria przydzielania subwencji ogólnej jednostkom samorządu terytorialnego w polskim systemie finansów publicznych

Author(s): Magdalena Miszczuk / Language(s): Polish / Issue: 167/2011

Keywords: general subsidy; criteria of subsidy allocating; local government units

The system of subsidizing local government units in Poland is rather complicated. The type of the subsidizing system has on the one hand a perfectionist feature due to the application of numerous criteria in educational part, but on the other hand it is based on crucial criteria in other parts of subsidy. The main criterion is population and its structure. Another important criterion is fiscal potential. Functions performed by a local government, degree of equipment with infrastructure and condition of economic development are less important criteria. In Polish subsidizing system there is no application of criterion which acknowledges it in calculation of sums for local government units, the government’s assets and its consumption.

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Controversy around open pension funds

Kontrowersje wokół otwartych funduszy emerytalnych

Author(s): Karol Schneider / Language(s): Polish / Issue: 167/2011

Keywords: pension funds; social security system; pension reform; functioning of open pension funds

The social insurance system reform, which was introduced on 1 January1999, has affected the previous model of intergenerational solidarity in which the funds had been paid on pensions. The model of capital pensions has been introduced, the source of which are the employees contributions accumulated on their personal accounts. Poland, as one of few countries, has introduced the general obligation for all the employees to pay a part of their pension contributions to pension funds. During the period of 11 years, 210 billion zl went to OPFs. These contributions come from public funds and are transferred for the management of the private institutions such as general pension funds.

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Analysis of the banking system in the context of the economic growth in Poland

Analiza systemu bankowego w kontekście wzrostu gospodarczego w Polsce

Author(s): Agnieszka Wójcik-Mazur / Language(s): Polish / Issue: 167/2011

Keywords: banking system; economic growth

The basic component of any financial system in today’s market economy is the banking sector. Its impact on the real sphere entities, in particular through the process of money creation, stimulates or restricts the economic growth. The article assesses the level of development of the Polish banking system by analyzing the relationship of this system assets to GDP. Moreover, an econometric model and the results of its estimation for the annual attempt from the years 1997-2009, which was an attempt to identify the relationship between the banking system and economic growth, are presented.

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The developmnet of Polish tax administration

Rozwój polskiej administracji skarbowej

Author(s): Alicja Kasperowicz-Stępień / Language(s): Polish / Issue: 167/2011

Keywords: tax administration; reform; development

The efficient functioning of the tax administration is necessary to realize economic and social aims by state. Tax administration belongs to the main public bodies in any country. This paper presents the evolution of Polish tax administration and as well as the necessity of its reform.

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Polish voivodeships financial situation in the light of selected indicators

Sytuacja finansowa polskich województw w świetle wybranych wskaźników

Author(s): Dorota Wyszkowska / Language(s): Polish / Issue: 167/2011

Keywords: ratio analysis; financial independence; operating surplus

The financial situation of self-government voivodeships is crucial in shaping the feasibility of their investment activities, the admissibility of borrowing or the ability of gaining the EU support. From the standpoint of evaluation of local self-government finance not only horizontal and vertical analysis of the budget is important, but also the ratio analysis. The determination of the degree of financial autonomy of voivodeships is a kind of synthetic indicator of the evaluation of financial situation. Taking into consideration calculated indicators it can be stated that Polish regions are characterized by the relatively low level of autonomy in relation to communes and town powiats. It results from the structure of their budgetary funding system. Assessing the state of finances of analyzed local self-governments there appears some concern over the growing budget deficit and debt level in the recent years.

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Debt of Lower Silesian voivodeship communes in the light of the amended law on public finance

Zadłużenie gmin województwa dolnośląskiego w świetle nowej ustawy o finansach publicznych

Author(s): Zofia Łękawa / Language(s): Polish / Issue: 167/2011

Keywords: debt of territorial self-government units; individual indebtedness ratio; law on public finance

The Polish law allows local self-government entities to finance through debt both their investment activities and their current deficits so as to ensure their ability to perform mandatory tasks. However, in order to curb the excessive debt usage and to protect entities against its consequences, the legislators restrict the level of debt among other things by setting debt limits. The paper explains the structure of a new ratio of individual indebtedness that will be obligatory from 2014. The references for new regulations are currently enforced limits. The paper aims at evaluating the debt level of Lower Silesian communes over the 2004-2009 period and at analyzing communes’ prospects to raise debt after the establishment of the individual debt ratio.

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Planning documents – costs or benefits for communal budget

Dokumenty planistyczne – koszty czy korzyści dla budżetu gminnego

Author(s): Anna Milewska / Language(s): Polish / Issue: 167/2011

Keywords: community; income; expenditure; budget; local master plan

In the article the author attempts to define the financial aspects of the planning documents in the selected units on the example of the Piastów commune. An instrument used for this purpose by the municipal authorities is a local master plan. It is seen primarily as a planning document that acts through its findings, only the spatial order and the way the exercise of property rights. It is not perceived as having an impact on the financial situation of local government. This article aims to show the date, the actual effects of the local plan for the selected area. That goal will serve to isolate sources of income and expenditure arising from the adoption of municipal planning document, structuring and determining the time interval.

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Problem of harmonization of European Union’s firms’ income taxation

Problem harmonizacji opodatkowania dochodów przedsiębiorstw w Unii Europejskiej

Author(s): Małgorzata Gasz / Language(s): Polish / Issue: 167/2011

Keywords: CIT; harmonization; pact for competitiveness

There were different initiatives taken on the Union forum in the scope of harmonization of EU firms taxation, but all of them failed. General economic crisis had influence in decreasing the condition of EU firms. It forced EU authorities to make necessary changes in fiscal systems, e.g. general reform of the system of EU firms’ taxation. At present it consists of 27 different taxation systems of EU member states. The difference is in general fiscal solutions and the levels of different tax rates. The aim of this essay is the presentation of contemporary situation of different fiscal solutions of EU member states and the necessary conditions of harmonization process of EU firms’ income taxation.

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Factors determining the effectiveness of the open pension funds

Czynniki determinujące efektywność otwartych funduszy emerytalnych

Author(s): Aleksander Kowalski / Language(s): Polish / Issue: 167/2011

Keywords: open pension funds; effectiveness; determinants of efficiency

The subject of the analysis in the article is the issue of open pension funds effectiveness. An ongoing economic debate about changes in the pension system proposed by the government, has been taken as the context of analysis. The aim of the analysis is an attempt to answer the question how macroeconomic factors determined the efficiency of open pension funds in 2000-2009. Using the method of Pearson’s correlation coefficient, the strength of linear relation between variables was estimated and, consequently, statistically significant correlation was found. In addition, the study also confirms the impact of the size of open pension funds on the level of operating costs.

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Role of marshal offices in financing tourism in Poland

Rola urzędów marszałkowskich w finansowaniu turystyki w Polsce

Author(s): Ewa Bąk-Filipek / Language(s): Polish / Issue: 167/2011

Keywords: role of marshal offices; local government units; tourist economy; financing

The main objective of the article is to show the role of territorial self-government units (mainly marshal offices) in financing the tasks in the field connected with tourism, to indicate the sources of financing and a short description of the value of spent sources. Tourism is important part of national economy of Poland. Despite its market nature it requires the support at both national level and using a variety of financial instruments of the European Union. At the national level tasks in the tourism economy are financed from the state budget by government administration. Expenditure on tourism is also significantly borne by local government.

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The analysis of costs of public pension societies

Analiza kosztów powszechnych towarzystw emerytalnych

Author(s): Jarosław Poteraj / Language(s): Polish / Issue: 167/2011

Keywords: costs; public pension societies; pensions

In the article the author undertakes the issue of costs of public pension societies (PPSs). The presented research area concerns the analysis of all PPSs present on the market at the end of 2010. The author puts hypothesis 1 that PPSs costs are dominated by costs inherent in the management of open pension funds (OPFs), and hypothesis 2 about low differentiation of cost structure among particular PPSs. As a result of conducted research it is stated that about 90% of PPSs total costs are inherent in the management of OPFs. That statement allows to verify hypothesis 1 positively. But the analysis of the structure of costs of particular PPSs has not confirmed the homogeneity in the area of costs of particular PPSs. The author did not succeed in confirming hypothesis 2.

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The cost benefit analysis in public sector – the outline of the method

Analiza kosztów i korzyści w sektorze publicznym – zarys metody

Author(s): Monika Truszkowska-Kurstak,Renata Przygodzka / Language(s): Polish / Issue: 167/2011

Keywords: cost and benefit analysis; social benefits; social costs; social discount rate

The main intention of this article is to present the cost benefit analysis method in the context of the problems connected with the implementation of this method in public sector. A special attention of the authors is focused on: a diversity of the areas, in which the cost benefit analysis method can be applied, a wide variety of costs and benefits taken into account and a problem of its evaluation from a social perspective, calculating a social discount rate, problems of uncertainty, project risk and neutralization of the effect of inflation.

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The role of bancassurance in insurance distribution

Znaczenie bancassurance w dystrybucji ubezpieczeń

Author(s): Anna Ostrowska-Dankiewicz,Marcelina Zapotoczna / Language(s): Polish / Issue: 167/2011

Keywords: banks; insurance company; insurance; bankassurance; distribution

Bancassurance means the co-operation of bank institution with the insurance company and making the bank and insurance products. The connections of both entities can have different forms. They are a result of the with-capital and without-capital attitude as well as subjective or objective co-operation. This co-operation gives opportunities to producing the optimal insurance for specific bank product and enables the insurance policies distribution within the bank net. Additionally, it makes the access of insurance companies to the bank clients easier and gives profits to the purchasers whom the financial services are offered as a part of bancassurance.

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The importance of EU funds as the source of financing of local self-government activity

Znaczenie bezzwrotnych środków zagranicznych jako źródła finansowania działalności jednostek samorządu terytorialnego

Author(s): Maria Jastrzębska / Language(s): Polish / Issue: 167/2011

Keywords: local government units; financing; European projects

From the beginning when Poland joined the European Union it has been possible to notice the growth of financial sources from the EU funds in the budgets of territorial self-government units. These entities, besides entrepreneurs, derive non-returnable financial sources for the realization of targets of cohesion policy of the European Union. In 2009 territorial self-government units in Poland won the most of these sources and financed over 24% of their investment expenditure. Concerning effective expenditure of financial sources from the EU funds in the present and future financial perspective, nowadays the territorial self-government units in Poland should define their development potential and the ability to introduce in practice spatial policy instruments according to EU requirements. Thanks to that they should be able to absorb EU funds for realizing local and regional projects also in the new period of programming 2014-2020.

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Tax privileges and their influence on the country’s budget revenue

Przywileje podatkowe i ich wpływ na dochody budżetu państwa

Author(s): Ryta Dziemianowicz / Language(s): Polish / Issue: 167/2011

Keywords: taxes; tax relieves and deductions; tax expenditures; budget revenue

Today’s taxes, apart from the fiscal function, are also used to implement programmes of various natures: economic, social, and even explicitly political ones. Through taxes, the state can consciously influence shaping of the final structure of the revenues of its citizens and it can also control the business processes. However, it should be remembered that the tax preferences which constitute the transfer of public funds through the tax system (substitute of public expenditures) affect the bases of tax efficiency and reduce budget revenues. Therefore, in conditions of limited ability to raise public revenue, it is particularly important to monitor the tax expenditures. The aim of this article is to analyze the system of tax advantages existing in Poland and to show the budgetary implications arising from their use.

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Technical efficiency of operation of universal pension fund societies and its changes – an example of frontier analysis application

Efektywność techniczna funkcjonowania powszechnych towarzystw emerytalnych i jej zmiany – przykład zastosowania analizy granicznej

Author(s): Robert Rusielik / Language(s): Polish / Issue: 167/2011

Keywords: efficiency; DEA; benchmarking; Malmquist

This article contains a comparative study of technical efficiency of Universal Pension Fund Societies. The aim of this study is to use the method of Data Envelopment Analysis (DEA) to measure performance from the perspective of society as an economic entity. In addition, changes in performance have been tested over time with the aid of Malmquist productivity index.

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Tax Expenditures as a tax policy instrument

Tax expenditures jako instrument polityki podatkowej

Author(s): Adam Wyszkowski / Language(s): Polish / Issue: 167/2011

Keywords: tax policy; tax expenditures; tax preferences

Tax policy as a part of fiscal policy is an important instrument in a state activity. Taxes and other fiscal burden are used by government to change tax-payers behaviour in consumption, savings and activity. One of the tax policy instruments are tax expenditures generally understood as tax provisions that allow certain groups of people to pay less taxes. Tax expenditures substitute direct budget expenditures in fiscal policy. At a time when many government budgets have debt, there is pressure to avoid inefficient government programmes. That is why it is important to identify all expenditures and verify them using efficiency criteria. One of the goals of tax expenditures analyses is to compare them to direct expenditures and choose more effective way to subside benefits of state budget.

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Selective remedial activities performed by the government in preventing financial exclusion

Wybrane działania zaradcze podejmowane przez państwo w zakresie walki z wykluczeniem finansowym

Author(s): Małgorzata Solarz / Language(s): Polish / Issue: 167/2011

Keywords: financial exclusion; financial inclusion; consumer protection

Government, which represents one of three entities, apart from financial institutions and natural persons, is predestined to fight financial exclusion manifesting itself in the lack of access, by some social groups, to basic financial services in an adequate form. Preventive measures undertaken by the government, regarding financial inclusion, are implemented in many countries worldwide. They mainly refer to consumer protection on the market of financial products and services, statutory basic account regulations and influencing financial skills of households.

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Loans and municipal bonds issuance as of raising funds by the local government entities in Poland

Kredyty i obligacje jako formy pozyskiwania środków finansowych przez jst w Polsce

Author(s): Anna Rosa / Language(s): Polish / Issue: 167/2011

Keywords: local government units; commitments; loans; municipal bonds

Municipal bonds, loans and bank loans have an import role in financing investment projects of local government. This article presents the importance of certain debt instruments in the financing of local government tasks. It is analyzed on the basis of the share of these instruments in the total debt of local government in Poland in 2005-2010. The article also presents good points for local government entities for municipal bonds issues.

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