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.
In this paper, I examine differentiation, the policy approach implemented by “old” Member States of the European Union that are also members of the eurozone. The aim of the paper is twofold. First, it shows that while pro-integration attitudes are well-developed among the eurozone states, the policy model used (in the long run) comes at the expense of other states such as Poland. Second, it demonstrates that differentiation creates a serious impact both on Poland’s government policies with regard to its future membership in the eurozone and on Polish society, which is becoming less supportive of the changeover from zloty to euro. Thus, it is argued, that there is a strong relationship between the avidity of Poland to fulfil the convergence criteria and the external political conditions of membership in the eurozone.
More...
Global financial crisis influenced almost all sectors of countries, affecting significantly the social sectors such as education and healthcare. Many countries could not solely withstand adverse effects of recent crisis and resorted to the International Monetary Fund (IMF) for financial assistance. Given the large criticism of the IMF for neglecting social effects of its bailout conditionality, this paper contains an analysis of its impact on Romanian education and healthcare during the 6 years. Moreover, Romania has been largely criticized for inefficient use of available resources, poor working conditions, low salaries which contribute to mass migration of health and education employees. The research methodology is based on propensity scores in order to identify a counterfactual with similar pre-crisis economic characteristics and by comparative approach reveal whether the IMF programs have been effective in terms of education and healthcare. By selecting Bulgaria as a counterfactual for with-without approach based on proximity of propensity scores, it is revealed that IMF participation has had negative effects on Romanian education and healthcare by decreasing them more than in Bulgaria with selfconditioning. Our findings argue that Romanian authorities should be aware of negative effects of IMF predominantly neo-liberal measures to recover economy, since they are likely to hurt social sector in short and midi-term periods.
More...
The study aims to explain why European banks had different positions towards establishing the EU banking union. Most of the academic publications dedicated to analyze the very recently implemented EU financial sector reforms give particular attention to explaining why different EU member states opposed the creation of a full banking union as it was proposed by the European Commission while there is a lack of academic discussions raising the question of how to explain that European banks also had different positions towards the implementation of single supervisory and resolution mechanisms. The research poses the question of how to explain different banks’ positions towards the creation of the EU banking union. While some international banks were strongly promoting the new supranational supervisory and resolution mechanisms which would be applied to the whole EU banking sector the others voiced strong opposition to the points of governance and application scope of proposed EU banking sector reforms. The overall aim of the study is to give the possible explanation of why different banks had different positions towards shaping the EU banking union. The study is based on the hypothesis that highly internationalized banks preferred greater European regulatory harmonization in the banking supervision and resolution (creating single supervisory and resolution mechanisms which would include all euro zone banks, supranational governance of banking resolution and high degree of risk sharing) while low internationalized banks preferred more the national regulatory autonomy. The research is based on the theoretical framework suggested by A. Spendzharova. The author argues that the level of bank internationalisation is an important determinant of the extent to which governments were prepared to endorse European solutions in banking supervision and resolution or prefer the national regulation. The proposed framework of the analysis has been applied to analyse countries’ positions but it has not been applied to explain banks’ preferences on the proposed elements of the EU banking union. The conducted analysis revealed that the internationalisation level alone cannot fully explain the positions of the banks on the creation of the EU banking union. The analysis of 20 biggest European banks varying from global to local banks revealed that despite being internationalized differently the majority of the banks supported the creation of the common supervisory and resolution mechanisms which would be applied to all euro zone banks. Even banks having a low internationalisation level supported the creation of the proposed EU banking union and vice versa. It can be also noted, that the majority of the banks voiced the support for the supranational governance of the single resolution mechanism but opposed the high degree of risk sharing – the creation of the ex ante resolution fund.
More...
We are building a general equilibrium model in which the private sector can invest abroad or borrow there with a fixed interest rate. The public sector levies five types of taxes that are used to finance public consumption. The central bank determines the rate of inflation, which affects the real tax burden. Using optimal control theory we solve the model and analyze the relationship between inflation and welfare achieved by consumers. We demonstrate that there may exist a unique optimal rate of inflation.
More...
the enlargement process is one of the key foreign policy instruments of the european union. expansion of the european union helped respond to major changes resulting from the collapse of the socialist system in europe, and consolidate democracy, human rights and stability in the Central and eastern european countries that became members of the european union. European union included the rest of the eastern neighborhoods within the policy of the eastern Partnership with whom, without the promise of the membership perspective, planned a similar scenario. However, after six years, this initiative neither hproved to be adequate in solving the problems of the eastern neighborhood, nor brough closer the countries of the eastern Partnership to the european values; as it was conceived within the european union. In addition, the failure of the implementation of the political goals of the eastern Partnership once again pointed to the lack of unity within the european union and the existence of different interests regards eastern neighbors. At the same time, new developments in the eastern neighborhoods – changing geopolitical context, russia’s foreign policy, ukrainian crisis, the emergence of alternative forms of integration in the eurasian economic Community – calling for a specific role of the european union towards its neighbors to the east and to redefine the eastern Partnership policy. this paper addresses the question of the future of the eastern Partnership policy with emphasis on the possibility of including the eastern neighborhood in the wider context of eu enlargement policy. although new enlargement quite certain will not be seen be in the foreseeable future, the european union should at least propose some new solutions in order to continue the process of rapprochement of the countries of the eastern Partnership to the eu. Given the current economic and political situation in the european union, the real changes can be expected only through reform of existing initiatives – eastern Partnership and the european neighbourhood Policy.
More...
The article concerns the phenomenon of poverty, which is inherent to social and economic life in Poland and in the world. This article aims to analyze strategic documents, both international and domestic, which shape policy to combat poverty. In addition, an overview of the main instruments used in the fight against this phenomenon in Poland is shown.
More...
In general terms, the more economic approach to the application of EU merger law implies increased reliance on theoretical concepts from industrial economics and quantitative methods of analysis, firstly in the case of investigations and, secondly, when formulating legislation and defining the criteria that are to be set. In other words, a tendency of the more economic approach to EU merger control is to base the evaluation of each specific case on an assessment of its anti- and pro-competitive effects (effects-based approach), rather than on the form of the intrinsic nature of a particular practice (form-based approach). In this article, the author presents the development of the more economic approach to the application of EU merger control and analyses the implications of this new trend which is present in the European Commission’s practice.
More...
Commodities exchange is an important element of market economy of a country. Being an organized commodities and capital market, it goes beyond the trade in a trade fair and particular trade in real commodities. It includes trading in exchangeable goods by standard label. As foundation of commodities exchange is expected in Croatia, the paper will explicate its status and operation in Slovakia, an EU member state that is similar to our country. The paper will focus on the legal status and organizational structure of consumer goods market in Bratislava. Although it has existed for just over 15 years, it is important to note that it actually goes back to the pre-Second World War Czechoslovakia. Also, to provide better understanding of its functioning, regulations defining the foundation and functioning of the commodities market will also be presented as well as the profile, method and types of operations, together with its positive effects.
More...
This empirical study employs a bivariate unobserved components model to estimate the permanent and transitory movements in real GDP and the unemployment rate and the relationships between them, using information from observable aggregates for the economy of Cyprus. The main motivation for quantifying this relationship is the absence of any measure for the Okun’s law that can be used to evaluate the effects of macroeconomic policy. The results suggest that both the transitory movements in Cypriot output and unemployment rate are critical for explaining overall fluctuations. The estimated Okun’s coefficient for transitory movements implies that a 1% change in transitory unemployment causes 1.73% change in transitory real GDP in the opposite direction.
More...
The paper analyzes Trump’s economic program. The overall impression is that this program echoes what has already been tried out during the Reagan era. In its philosophy it is reminiscent of Reagan’s “supply side” economics with its three major features: tax cuts and tax reform, massive deficit financing and finally, protectionism. Copying Reagan’s policies in a radically different environment in which the United States economy operates today is in itself dangerous. Considering that many economists see the Reagan economic legacy as highly flawed makes the perception of Trump’s proposals as even more risky. The belief that old policies can be used in situations that only superficially bear resemblance to past experiences is dangerous and leads to uncertainty and possible dire consequences for the global economy. This is even more accentuated with threats of tariff hikes, the scrapping of TPP and the renegotiation of NAFTA.
More...
The flow work is focused around discovering the aspects that fixed Argentina's during the recent (2014) crisis nation's destiny. Variables focused around prior analysis utilizing the logistic regression model conveyed for a twelve years period (2002-2013 to clarify the occurrence and checking whether conceivable elements could be foreseeable. The results demonstrate that foreign exchange reserves reduction, monetary aggregates (M3) raise, crises in trading partners, oil price and consumer price index level seem to boost early 2014 turbulence and they also predicted accurately the forthcoming crisis. Also the development of the phenomenon was rapid giving positive signs later than the previous works suggested. The capital flight named as the major factor that led to depreciation is statistically unimportant.
More...
The objective of this paper is to realize a configuration of today’s pension systems in the various countries member of the European Union. The authors put into discussion also the importance of private component in the supply of pensions, summarizing the debate regarding a certain harmonization between the pension systems from the member countries of European Union. In the final part of the paper, there is also brought into discussion the influence of the financial crisis on the current pension schemes, with its potential roll-backs of reforms made so far.
More...
Brexit is an unofficial term for the referendum, that took place in United Kingdom of Great Britain and Northern Ireland at 23rd June 2016, as well as an informal designation of the whole process of leaving the European Union by UK. This event indicates challenges of identifcational and defnitional problems with reference to the European integration process, as well asto dynamically transforming standards of activities and information transmissions within the frames of sovereign nation states in the context of manifestations of factors arising from Europeanisation and globalization processes. Among other consequences here appears the challenge associated with the issue of responsibility of selected professional groups with reference to both form and content of information conveyed within public sphere. Such perspective leads in turn to the questions about the role of representatives of social sciences and humanities within the field of politics, that is interactions between the field of politics and the field of science devoted to it.
More...
The objective of the study was an evaluation of the regional diversity of the innovation system in Poland and changes which took place in this realm between 2009 and 2014. In the study, numerical taxonomy methods were used. A synthetic innovation index was built with the use of the non-model method. The results of analyses may be summarised as follows: regional disparities in the level of the innovation system in Poland have slightly decreased; however, they are still at the average level. This is confirmed by the value of the variability index, which dropped from the level of 31.6% in 2009 to the level of 29.9% in 2014. Regional convergence in the area of the innovation system was accompanied by internal convergence and divergence processes occurring in parallel in provinces. Internal convergence processes were observed in 11 provinces, and internal divergence processes were observed in the remaining five provinces, yet in the case of three of them, i.e. Kujawsko-Pomorskie, Świętokrzyskie and Warmińsko-Mazurskie, such processes had a marginalising effect.
More...
This article discusses the segments of contemporary labour markets and identifies the causes of evolution and the present-day manifestations and mechanisms of segmentation. To this end, changes occurring in the world today and the progress of research into labour market phenomena over the last 25 years are analysed. The article also provides an insight into the various types of labour market segmentation that underlie its functioning, i.e. competition-driven segmentation, informational segmentation, network-based segmentation and behavioural segmentation. The theoretical underpinning of the article is the concept of a dual labour market made up of a primary market and a secondary market. The analysis offers two main conclusions. Firstly, the labour market segmentation that we observe today causes an expansion of its secondary segment. Secondly, to identify the contemporary face of labour market segmentation, many extensive studies of the institutional, economic, social and psychological aspects of this process are necessary.
More...
The decade of Poland’s membership in the European Union disposes to the reflection how this period is perceived in the area of Polish consumers’ protection. An aim of considerations is to answer the two basic questions: How does the consumer policy at the level of the European Union translate into consumer protection in Poland? And: Is the Polish consumer more aware of their rights, competent, do they vindicate their claims? The article is of the theoretical and empirical nature. The presented research findings show that Poles better and better perceive the consumer policy, though Poles’ consumer knowledge not always allows them to be a partner for business. The issue of consumer protection is an important element of the implemented economic policy but also it plays an important social role.
More...
An aim of considerations is to present the basic mechanisms occurring in the market for automotive branch based on the two characteristic phenomena, i.e. capital concentration and production delocalisation. Research approach: the study was carried out on the basis of an analysis of foreign and national publication as well as by way of desk research where there were used the accessible primary and secondary data such as publications, branch reports, statistical data available in reports, data bases, information accessible on websites of automotive firms. Basic conclusions: the analysis of the issue of capital concentration revealed that entrepreneurs of key firms in the automotive branch prefer the use of investments and business strategy by way of the measures of the type: corporate cooperation on the joint venture (JV) principle and strategical alliances; moreover, mergers and acquisitions as well as outsourcing, activities carried out to the benefit of suppliers and contracting with manufacturers. The made decisions and carried out activities of delocalisation of production in the automotive branch became an integral element of the long-term strategy for activities of many automotive concerns. The basis for making decisions on production delocalisation is an analysis and optimisation of production costs within the available capacities and, owing to that, gaining and offering new advantages for the customer. Practical consequences: entrepreneurs care of undertaking measures aimed at reduction of production costs while maintaining the recognised quality standards. Social consequences: of a material importance for production localisation are technical and economical as well as socio-political factors. In the regions, where there were established and are still set up branches of firms, there takes place an uninterrupted process of development of many areas, inter alia, the infrastructure for transport and logistics as well as telecommunications. As important factors of localisation of industrial centres were also considered stability of the social climate, local labour skills, labour costs, the existing sales market, size and types of taxes in a given region as well as flexibility of the labour law. The article concerns the economic practice.
More...
An aim of considerations is an attempt to explain the impact of competitiveness on functioning of local self-governments as well as to indicate the importance of this orientation for an effective management of those entities. There are also explained such notions as competing, competitiveness, competitive advantage, competitive potential, and instruments of competing. The author also defined the determinants of market orientation of local self-government management. In the final part of the article, the author assessed the quality of public services rendered by local self-governments. The article belongs to the literature review category
More...