We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.

Download

Miejsce gospodarki polskiej w gospodarce Unii Europejskiej w latach 2003-2014

Author(s): Marian Gorynia / Language(s): English,Polish Issue: 04/2016

The first aim of this paper is to identify and evaluate major changes and trends in the significance of the Polish economy for the European Union economy in the years 2003-2014. The conducted analysis concerns changes in the gross domestic product, exports, imports, inward foreign direct investment and outward foreign direct investment. The paper’s second aim is to forecast what the above mentioned variables under analysis will be in the future and to formulate some recommendations with regard to future economic policy.

More...

Download

Scenariusze i ryzyka dla przyszłości integracji europejskiej: jakie zmiany może przynieść Brexit?

Author(s): Paweł Samecki / Language(s): Polish Issue: 4/2016

Until recently, European integration has been progressing unevenly yet consistently in the direction of deepening the process. Brexit only seemingly opens the door towards faster integration. A number of economic and geopolitical threats combined with a lack of strong leadership in the European Union are responsible for leaving unresolved the dilemmas of setting the directions and pace of integration in the long-term horizon. The “muddling through” scenario remains the most probable.

More...

Download

Chińsko-pakistański korytarz gospodarczy. Chiny jako mocarstwo dwóch oceanów

Author(s): Łukasz Gacek / Language(s): Polish Issue: 4/2016

This paper aims at assessing the new role of the Islamic Republic of Pakistan in China’s foreign and security policy. Close cooperation between China and Pakistan based on the idea of building an economic corridor linking these two countries will result in geopolitical changes in the region of the Indian Ocean. The prospective China-Pakistan corridor from Xinjiang to the port of Gwadar offers China direct access to the Indian Ocean, enhancing business opportunities and opening up alternative energy routes and sources.

More...

Download

Przemysł czwartej generacji (Industrie 4.0). Szanse i zagrożenia dla współpracy polsko-niemieckiej

Author(s): Marta Goetz / Language(s): Polish Issue: 4/2016

Current economic ties between Poland and Germany are impressive, with Germany as Poland’s main trading partner accounting for one fourth of Polish imports and exports. Germany is also the number one foreign direct investor in Poland, but these well-founded relations cannot be taken for granted, particularly given the ongoing gradual transition towards the Industrie 4.0 initiative, which is bound to revolutionise manufacturing worldwide and shape the industry landscape in Europe. The resulting multifold challenges mean that partners should prepare to face the new requirements in order to adapt smoothly to new work organisation. Infrastructure and technology should be adjusted to safeguard minimal compatibility and continuity of cooperation, which is why Industrie 4.0 launched in Germany deserves attention in Poland as well.

More...

Download

The role of enviromental taxes in Serbian tax system

Author(s): Miloš Stojanović,Marina Đorđević / Language(s): English Issue: 4/2016

The aim of this paper is to point out the lack of giving importance to ecological taxes and the low participation of dedicated revenues in the structure of these taxes in the tax system of the Republic of Serbia. Environmental taxes have gained in importance, especially through the ecological tax reform in a number of European countries, which have proved to be significantly more effective compared to other available instruments in the struggle against environmental problems. The premise of this paper is that the inadequate structure of environmental taxes has a negative impact on allocations in the field of environmental protection. This hypothesis will be tested by using statistical methods and comparative analysis.

More...

Download

CSR through the lens of nationalization: an analysis of changes in a once private Latvian bank

Author(s): Aleksandrs Judins,Olga Pavlovska / Language(s): English Issue: 05/2013

The present research paper is dedicated to the analysis of impact on Corporate Social Responsibility (CSR) activities implemented by a once private bank Citadele (former Parex) on customer’s views after its nationalisation. The goal is to analyse the notion of nationalisation and the history of Citadele bank, and to scrutinise CSR policy and its aspects. Research aim is to explore the impact of CSR activities implemented by Citadele Bank on customers’ views after the nationalisation of the bank. The research methodology involves the analysis of the existing theoretical literature and a quantitative research method - survey conducted by an international research agency

More...

Download

Hybrid multivariate adaptive regression splines credit risk assessment model considering business cycle

Author(s): Ričardas Mileris / Language(s): English Issue: 05/2013

The paper presents hybrid statistical enterprises classification model that combines multivariate adaptive regression splines and logistic regression methods. According to 11 financial ratios the model allows to predict the default of a company in 1 year. The hybrid approach allowed to increase the sensitivity of model from 90% to 92% while the overall classification accuracy remained the same 96,92% as in logistic regression model. In addition this model considers the business cycle effect on different industry sectors credit risk. Analyzing 5 factors of industry sectors performance the model highlighted the sectors that are very sensitive to the changes in macroeconomic conditions. That can help banks to make lending decisions aiming to reduce the possible loss.

More...

Download

The impact of country-of-origin on food products choice

Author(s): Miglė Šontaitė-Petkevičienė,Lina Pilelienė / Language(s): English Issue: 05/2013

This paper analyzes the impact of country-of-origin on food products choice. After the analysis of research results, it was determined that Lithuanian consumers care about country-of-origin while choosing a food product. According to research results, three groups of countries-of-origin were defined: attractive countries-of-origin (Lithuania, Germany), neutral countries-of-origin (France, Italy), unattractive countries-of-origin (Russia, Poland and China). Due to this, there is a need of marketing efforts for every single group of countries-of-origin to be different. Moreover, according to obtained results, the fact that product is made in Lithuania can be used as promotional tool in product marketing.

More...

Download

Impact of Minimum Wage in V4 Countries

Author(s): Iva Nedomlelová,Lucie Staňková,Roman Vavrek / Language(s): English Issue: 48/2017

The labour market is one of the most regulated markets. Two approaches to labour market regulation are usually described in economic literature. One approach sees regulation as a necessity for the social protection of labour and as a tool leading to productivity growth (institutionalists). The other one (distortionist) considers regulation as an impediment to the adjustment mechanism of the labour market. The aim of this paper is to present different views on the minimum wage institution in economic theories. The main objective is however to verify three hypotheses in V4 countries which confirmation or refutation are verified by simple regression analysis. Results of the analysis confirm that an increase in minimum wage causes an increase in employment rate and unemployment rate, but only for Poland. The third hypothesis (an increase in minimum wage causes an increase in GDP) is refuted for all V4 countries.

More...

Download

Determinants of Innovational Development of Economy of Modern Russia

Author(s): Tatyana Plaksunova,Alla Litvinova,Elena Loginova,Evgeniy Litvinov,Maria Parfenova,Natalya Talalaeva / Language(s): English Issue: 48/2017

Aggravation of crisis phenomena in economy of modern Russia caused the necessity for preparation of the model of development, the realization of which will allow using the existing innovational potential. In order to find determinants of innovational development, the matrix approach to study of innovational system by criteria of innovative activities of economic spheres was used, which allowed making a conclusion regarding its binary structure (spheres-innovators and spheres- conservatives). Based on this, a model of economic growth was developed which allowed determining structural proportions in distribution of gross national product, necessary for achievement of goals of innovational development of economy. Ensuring the implementation of the innovative model of economic growth, the state develops and applies a variety of tools to stimulate innovators, the use of which in the conditions of limited budget resources should be based on reliable and valid assessment of the effectiveness of incentives based on costs obtained in the course of their implementation results. The method of quantitative estimation of efficiency of the state stimulus of innovative activity allows identifying the effectiveness of incentives and measures aimed at redistribution of budget funds in favor of high- performance tools.

More...

Download

Industrial Parks Formation as a Tool for Development of Long-Range Manufacturing Sectors

Author(s): Svetlana N. Kuznetsova,Ekaterina P. Garina,Viktor Kuznetsov,Elena V. Romanovskaya,Natalia S. Andryashina / Language(s): English Issue: 48/2017

The article reveals the main aspects of the industrial parks creation in the regions of Russian Federation as the tools of the development long- range sectors and the regions on the whole. The subject of the research is the business relations that appear when enterprises are integrated in the industrial parks. The goal of the research is to maintain the theoretical basis and the methodological tools in the industrial parks formation areas. The methodological basis of the article includes the works of foreign and Russian whose works are devoted to business development. Scientific сontribution of the research is the development of theoretical and methodological basis in the sphere of the industrial parks implementation. Methodological basis of the industrial parks management needs improvements. Due to this fact, improvement of the business mechanisms in the industrial parks is quite vital, because it is dedicated to the increase of competitiveness of industrial parks in Russian Federation and to import substitution. The partnership measures between the government and business allows giving an impulse to the industrial development and involving the regions into the global development processes. Industrial parks are the sources to increase competitiveness and fasten the social development in Russian regions. The results of the research can be used in the industrial enterprises. The research can be used by the executive authorities and by the quasi corporations, as well as by private business in the frameworks of the purpose-oriented programs that are dedicated to the industrial development.

More...

Download

External Influences for Balance of Trade in Small and Open Economies

Author(s): Giedre Dzemydaite / Language(s): English Issue: 48/2017

This paper aims to analyze peculiarities of balancing the trade in small and open economies and to identify main external and internal influences that shape the structure and volumes of international trade. The case of the three Baltic States was selected. Overall, 62 economic indicators that reflect the situations inside countries, also situation in main trading partners’ countries were involved in the research. Multidimensional data analysis methods were applied to get most information from the data. This research supports the idea that external factors tend to influence the intensity of international trade rather than higher surplus or lower deficit of international trade in small and open economies, as they affect both imports and exports in highly common way. Internal factors and foreign direct investments seem to be those that notably drive structural changes for balancing the international trade. From economic policy perspective it is a discussion where to put more emphasis – on expanding linkages with foreign countries or on investing in innovative activities and quality of resources for stronger trading positions in global markets.

More...

Download

Analysis of the Impact of Integration Processes on the Formation of Regional Investment Programs

Author(s): Olga Maksimovna Tsybikdorzhieva,Victor Georgievich Belomestnov / Language(s): English Issue: 48/2017

The study represents a new approach to programming the regions’ economic development management. In contrast to the modern approach to problem- oriented system of forecasting, strategic planning and management, which is based on the target prediction of specific meanings of development indicators, the suggested approach will allow establishing the ratio between the development of the main sectors of economy and the benchmarks for development indicators with the corresponding resource reinforcement in the form of innovative projects, i.e. the transition to project- program system of managing the region’s development. The results of the study contribute to the optimization of the regional policy on enhancing the efficiency of using the regional investment programs as an integration factor of the region's economic development. The given approach determines the basic factors of the region's investment policy development, and can serve as a guide in the process of formation and realization of the regional economic development. It can be used to develop a strategy and a program for socioeconomic development of Russia's regions.

More...

Download

Do Stock Markets Complement Banks in Promoting Economic Growth? Evidence from West African Countries

Author(s): Kizito Uyi Ehigiamusoe,Hooi Hooi Lean / Language(s): English Issue: 48/2017

This paper examines the impact of stock markets on economic growth in Cote D’Ivoire, Ghana, and Nigeria using three proxies to determine whether the impact of stock markets on economic growth is sensitive to the proxy used to measure stock market development. It also seeks to determine whether the impact of stock markets on economic growth is sensitive to the inclusion of banking development indicator in the regression. After accounting for structural breaks and cross- sectional dependency, the study reveals that stock markets have positive impact on economic growth in all the countries, albeit the impact is not very robust in Ghana. The results are neither sensitive to the proxy used to measure stock market development nor the inclusion of banking development indicator in the regression. This implies that stock market is a complement rather than a substitute for banking development in the process of economic development in West African countries. Thus, the countries should strengthen policies that promote all aspects of stock market development in order to accelerate sustainable economic development.

More...

Download

Assessment of Competitiveness of the Leading Russian Metallurgical Enterprises

Author(s): Dmitrii Sergeevich Voronon,Sergei Evgenievich Erypalov,Stanislav Viktorovich Pridvizhkin,Irina Sergeevna Pelymskaya,Elvira Antsasovna Rusetskaya / Language(s): English Issue: 47/2017

This study assesses the competitive status of the leading Russian metallurgical enterprises. The authors have demonstrated that the imperfection of the applied ranking methodology does not allow to use the existing ratings in order to assess the competitiveness of businesses. Due to this, it is concluded that the assessment of the impact of recessionary effects on the performance of the largest domestic metallurgical companies could only be accomplished through the application of analytical methods for assessing competitiveness. The basic methods of assessing the competitiveness of enterprises were reviewed. The authors substantiated that the most appropriate method to assess the competitive status of several businesses was to use dynamic method of assessment of the competitiveness of enterprises. The mathematical apparatus of the dynamic method of assessment of the competitiveness of enterprises was provided; its methodological principles were revealed. The calculations of the level of competitiveness of the leading Russian metallurgical enterprises were provided. Their competitiveness both in the domestic market and in the international arena was estimated. Competitive advantages and disadvantages of the companies were identified, and the basic ways to increase their competitiveness were defined. In conclusion, the authors determined the areas of further research on the subject.

More...

Download

Assessment of the Economic Potential of Sovereign Wealth Funds

Author(s): Olga Alekseevna Bykanova,Ravil Gabdullaevich Akhmadeev,Mikhail Evgenievich Kosov,Vadim Vitalievich Ponkratov,Vladimir Sergeevich Osipov,Yulia Vyacheslavovna Ragulina / Language(s): English Issue: 47/2017

Being the total of the state funds, sovereign wealth funds are generally accumulated in budget revenues as the surplus from sale of fossil fuels or non- oil and gas resources and aim to achieve specific macroeconomic goals set. Applying the method of correlation analysis, we evaluated the nature and degree of the relationship between the selected parameters. The Pearson simple linear correlation coefficient was used to measure the link between the rows. The relationship of x and y is considered linear if a straight line drawn through the center of the cluster of points presents the most appropriate approximation of the observed correlation. Using the method of correlation analysis to study sovereign wealth funds, we could formulate and prove the following hypotheses. Sovereign wealth funds generated from non- commodity exports do not depend on the size of the country’s GDP; the value of the correlation coefficient equaled 0.5998, which implies the weak dependence of the studied parameters. A similar pattern was observed when studying the sovereign wealth funds formed by hydrocarbon exports. Besides, no significant linear relationship was found when studying the dependence of the sovereign wealth funds and the impact of the potential of the country’s explored reserves.

More...

Download

Quantification of Possible Level of Cost Reduction in Enterprise as a Result of Intensification of Production Processes

Author(s): Josef Kašík,Petr Šnapka / Language(s): English Issue: 47/2017

The article presents a comparative model system for quantification of the level of change in total production process costs in enterprises. These are changes in the level of costs attained in connection with the application of intensification measures in a given production process or processes which are linked logistically with the production process and measures expressed in them in the production process. Intensification measures allow the attainment of higher process performance, which is expressed in a growth in the level of production. This fact has a possible echo in the possibility of reducing total process costs. The presented model allows an informationally correct quantification of the level of reduction in total process costs in the context of comparison of process variants. The article also presents an information analytical model determination of possible distortion in the level of change of total process costs in the case of a cost comparison of process variants. This information distortion of the level of savings on process costs then initiates a further distortion in potential decisions of managers, who apply these distorted information inputs to subsequent solutions of decisive situations in the enterprise. Our article has been written in order to avoid the occurrence of the input information conditions leading to the formation of such incorrectly taken decisions.

More...

Download

Innovation Capacity of the Regions of Siberian Federal District: Status and Dynamics

Author(s): Olga Vladimirova,Marina Malakhovskaya,Aida Petrova,Manon Khusainov,Irina Rouiga / Language(s): English Issue: 47/2017

Considerable changes in the income flows and in the structure of the expenses for mobilization of resources in the system of the economy generate the demand for innovations. The differences between the approaches to the regional innovation status estimation predetermine the differences in the tools for the implementation of the state innovation policy. The possibility to establish the interrelations between the specific features of regional economies and the quality of their innovation capacity serves as an indicator of the opportunity for regulatory intervention into innovation practices. Institutional analysis and the application of the ranking approach to the array of the public domain data on the contents, resources and the results of regional innovation systems in Siberian Federal District made it possible to suggest the methodology of indicative estimation of innovation capacity of the territorial subjects of the Russian Federation and to establish the interrelations between the rating change and the nature of innovations. The rating of the regions of Siberian Federal District is a result of the monitoring of innovation capacity of the regions and of the determination of the values of the indicators. Classification of the regions based on the initial level and on the innovation capacity rating change is represented by the matrix of the diverse tools for the regulation of the innovation systems that possess different quality of innovation capacity. The results of the undertaken investigation provide the foundations for the state regulatory authorities to formulate the effective approach to the implementation of the innovation policy taking into account the maturity of the innovation system in the region.

More...

Download

Vertical Fiscal Imbalance as an Integral Part of the Local Public Sector Financing: Its Determinants in the Case of New and Old European Union Member

Author(s): Lenka Maličká / Language(s): English Issue: 47/2017

Fiscal decentralization brings certain economic benefits, but also meets certain inconveniences. If the process of decentralization is realized in the mode, that the decentralization of expenditure and decentralization of revenue are divided, the success of its implementation is endangered. Excessive expenditure decentralization without adequate decentralization of revenues creates a gap, which is under the soft- budget constraints conditions completed by intergovernmental transfers. Intergovernmental transfers present a move of public financial resources from central level of government to local levels of government creating vertical fiscal imbalance. The theory is not clear about the eligibility of soft- budget constraints and vertical fiscal imbalance. The economic reality supports their existence and considers them as an integral part of local resources. In this paper vertical fiscal imbalances in the EU countries are analyzed. Using the panel regression with time effects for a sample of new and old EU member states, determinants of vertical fiscal imbalance are identified. Significant negative effect of public deficit and revenue decentralization is observed in all two samples. The impact of time effects differs according to the sample. This paper is published within the project VEGA no.1/0559/16.

More...

Download

Analysis of Factors of Investment Activity in Russia through the Construction of Econometric Model

Author(s): Konstantin Konstantinovich Pozdnyakov / Language(s): English Issue: 47/2017

Investment policy - is one of organic components of the economic policy. Implementation of effective investment policy in many respects depends on a strategy correctness and tactics of general economic reforms at the macro- as well as at the microlevel.

More...