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The article present the global trend of innovative development, a study of methodological foundations of commercialization of scientific and technical elaborations, the role and importance of higher education in the process of commercialization of scientific and technical elaborations at post-industrial society
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The paper analyses the environmental Kuznets curve relationship between greenhouse gases and chosen indicators of economic development based on the panel data of 20 countries of the EU in the period 2006–2013. Besides the typical variables, such as the share of a particular polluting industry, environmental taxes, energy taxes, research and development, the dummy variable of the crises and enterprise’s sustainability score were also included in the model. The fixed effect panel model was used as a framework for the analysis. The original contribution of this paper is that the factor referring to the enterprises’ sustainability was empirically tested in the expanded model. Higher energy taxes, research and development and the number of sustainable enterprises decrease the level of greenhouse gases. The size of agriculture, production and construction has a positive sign, which means that a higher value of the indicator is associated with a higher level of greenhouse gases. This implies that the analysed set of factors can be applied to adjust the trend in the region and might be useful for the climate change policy adjustment.
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Dealing with uncertainty of the economic environment on the decision to invest is not new. During the last three decades, a new strand of theory, Real options approach to investment, linking uncertainty and investments, has emerged. This theory is based on the simultaneous existence of three phenomena: uncertainty, irreversibility of investment and some freedom of choice on the timing of investment. Their interaction may generate an opportunity cost equivalent to the exercise of an option. As the article reveals, it adds an important dimension to the neoclassical theory of investment, while this one has not recognized the important qualitative and quantitative implications of this interaction. Moreover, it also explains some of its failures.
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In the economic literature, one can find many studies concerning motives for savings. Publications containing an empirical material usually originate on the basis of quantitative research; fewer publications refer to qualitative research. In his article, the author discussed findings of both types of research. An aim of considerations is to separate, based on the review of literature, the motives for saving, to arrange their hierarchy and to survey the contexts of their occurrence. The empirical materials were two quantitative research surveys carried out among households as well as qualitative research carried out among students and employees. The aims were being fulfilled by way of critical review of the literature (establishment of a coherent research proposal combining various approaches), own quantitative research (determination of the hierarchy of motives) as well as qualitative research (confirmation of motives occurrence, in-depth understanding thereof and the context).
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The improvement of Hungarian competitiveness is determined by its linkages to the concerning European developments and strategies. The first part of the study - starting from the competitiveness concept of the Scientific School - contains definitions and issues that will be used in the analysis. The European Union as an integration of national economies brings into the competitiveness analyses numerous new, additional elements that do not emerge on member-state level. The study introduces a model in order to describe and valuate the competitiveness of the EU considering the above-mentioned additional elements. Important feature of the model is the analysis of the single European market: this points to the issue that improving the competitiveness of a member state in itself is not sufficient, the coordinated development of regions and member states is required. The polarisation, the lack of a single strategy can impede the improvement of competitiveness even if certain parts achieve success. Strategy for a better European competitiveness must include advantages emerging from the competition of regions and member states, but also possibilities offered by the effective coordination of member states of the European single market. The second part of the study points to some important practical issues concerning competitiveness of the European Union, and on this base some conclusions regarding methodology and economic policy will be drawn as well.
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The paper aims to project Marxian model for progress of the society over the actual evidence from the present day developed economies in order to assess its adequacy, avoiding the ideological controversies as much as possible. Results from the original study show certain degree of adequacy – the basic difference and contradiction between the social strata are preserved and even aggravated through the deepening economic inequality. Two of the analyzed three variants of resolving the controversy are also congruent with the basic features of the Marxian model.
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The underlying purposes of the study are to examine global competitiveness and human development indicators as factor affecting foreign direct investment inflow using cross sectional data of 70 FDI receiving countries and implication for SAARC and ASEAN Countries. To examine the governance and economic performance affecting the growth of foreign direct investment inflow and implication for SAARC and ASEAN Countries and to suggests policy measures to improve foreign direct investment inflow in SAARC and ASEAN countries. FDI can play a vital role for the economic development of developing countries. The empirical study employing multiple regression analysis would suggest that the determinants of FDI especially the human development, global competitiveness and better business environment affects the growth of FDI. The study also would suggest that the countries do have high per capita income, domestic savings and other better domestic economic performances tend to receive more FDI. The non-economic performances of both the regions would suggest that the countries do have better governance in terms of government effectiveness, property rights and better control of corruption and political stability can attract more FDI. The countries in SAARC region needs to improve institutional effectiveness, human development and competitiveness more than the ASEAN countries to attract more FDI.
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The aim of the paper is to evaluate the Human Development Index (HDI) as an indicator of economic development. The analysis is based on case studies of five post‑socialist countries: the Czech Republic, Estonia, Hungary, Lithuania, and Poland. To carry out the assessment of the HDI, two approaches are employed. The first involves comparing the HDI values to seventeen other indicators related to different aspects of development chosen with reference to Amartya K. Sen’s approach. The second approach refers to public opinion surveys provided by the Eurobarometer and the European Quality of Life Survey programs. In the light of the analysis, it can be said that the HDI is a fairly good measure of economic development. However, certain important dimensions which have a significant impact on people’s living conditions are neglected. Knowing about Sen’s influence on the creation of the HDI and the emphasis he put on the relationship between democracy and development, it may be surprising that such neglected dimensions include the state of democracy.
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in this paper we empirically test the effect of social capital as a factor of inno vation. Theoretically we rely on Social Capital Theory with the main thesis that culture of the society has an economic outcome. We used for the anal ysis aggregate date from 44 countries in Europe. The data are taken from re levant international sources and researches. dependent variable in the rese arch was global innovation index. Social capital, as well as other predictors was taken from World Value Survey. Results of the hypothesis testing con firm a significant effect of social capital onto economic innovation. among few dimensions of social capital, by using regression analysis and Structural Equation Modeling we found that social trust has the strongest effect on innovation. in conclusion, we provide theoretical argumentation regarding the effect of culture onto economic outcomes. Finally, we assume that one of the factors of the low level of economic innovation in Serbia is due to the lack of social capital.
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The article highlights the presence of unfavourable climatic conditions in the agricultural production of the Republic of Moldova, which adversely affect the results of crop cultivation and the economic sustainability of enterprises. As a rule, the variation indicators are not taken into account and evaluated when calculating the efficiency of crops production and sales, and accordingly, the potential values of land use efficiency in the industry are not correctly predicted. In this regard, the aim of the study is to develop methodological approaches to assess the stability of production and to justify some features of calculating potential indicators of production and sales of crops. The article shows the dynamics of yield of leading crops over the past 16 years and estimates the instability of production. For this purpose formulas are proposed, with the help of which the level of sustainability of enterprises can be predicted. The suggested interrelationships are vividly presented on graphs. The proposed approaches will allow specialists of enterprises to calculate the financial safety margin and the risk zone for each crop, to predict economic development using, above all, the moving average indicators.
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The basic conditions of economic stabilisation, have been realised by the macroeconomic policy in Croatia. But only a longterm economic development strategy could provide answer to the following questions: With what and how can we approach the European and world economy? The purpose of this paper is to point out the essence of contemporary economic development trends and the preconditions that should be fullfilled in Croatia in order to join these trends as soon and as productively as possible. Qualitative analysis of contemporary literature dealing with this subject as well as the experience of developed economies indicate that economic growth causes high social costs. As transitional social costs that are already high should hot multiply, it is necessary for Croatia, while taking into consideration its specific conditions, to initiate economic growth congruent with the global development strategy - the strategy of sustainable development.
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This article seeks to examine the motives behind China’s active foreign policy toward the Middle East, using Fei-Ling Wang’s incentive structure of preservation (of its own political power), (economic) prosperity and (greater international) power. It argues that the political preservation of the Chinese Communist Party regime, China’s economic prosperity and China’s pursuit of power are three basic motives that shape China’s relations with Middle Eastern countries. On the preservation front, continued economic growth, Beijing’s policy of non-interference, and the importance of territorial integrity influence Sino-Middle Eastern relations. These relations reflect also China’s prosperity interests since the Middle East provides China with the bulk of its oil imports and a market for manufactured products. Finally, China’s relations with this region play an important role in its power calculations.
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Supporting entrepreneurship development within the SME sector is a priority at both European Union and national level, as this category can contribute to the sustainable development of the economic sector both economically, financially and especially socially. The number of SMEs at both national and European level is very high, i.e. over 90% of the number of economic agents. Encouraging SMEs through financial and fiscal measures and financial incentives to boost entrepreneurship can contribute to a more dynamic and flexible economy, with the role of SMEs being larger than large companies, which are considered to be the backbone of any modern economies. Moreover, as the family is the basic cell of society, we believe that SMEs are the basic cell of the economy. Through this paper, we aim to make an entrepreneurial radiography among SMEs in Romania, especially in the current European context.
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Nowadays, there is a big question how the public institution can achieve a progress through implementing new information technologies in its performance, which is known as E-government. Governments are in hurry to issue development plans aiming social and economic developments. Due to that, the E-corporate governance is highlighted by academicians and searchers in order to restructure the public institutions in a way of assure responsibility and transparency and after that the academicians and the searchers want to take the advantage of new technologies. The article will try to formulate main principles of E-government and to determine the requirements and the ability of E-government besides highlighting its benefits.
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Social sciences witness a steady interest in cross-cultural studies. Therefore, awareness of limitations and consequences of use of different languages in scientific research is crucial to its implementation. This paper addresses issues discussed above while presenting the study of the banking sector’s enterprise, which was created by the representatives of two countries: France and Poland. The research of the creation and development of this institution used the method of the biographical interview and data analysis. Due to the bilingualism of studied institution, two languages had to be used while collecting and analyzing empirical material. In this paper, the consequences of use of two different languages while conducting the qualitative research as well as impact of biculturalism (with emphasis on its linguistic aspect) on the course of the research will be presented.
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The modern way of doing business is characterized because increasing the business opportunities for enterprise development but increasing the risk of business failure. The main goal enterprises is remain to achieve a positive financial result at the end of the business year. For these reasons, the great task is put before the management of the company to adapt to the modern transformation of business in time, make correct strategic decisions and carry out business moves that will ensure the future existence, stability and operation of the company. Analysis of the financial statements of the company plays a significant role in strategic decision making and in modern business. It provides information on the results of the business of the company both to users within the company and to persons and organizations outside the company. The paper focuses on the analysis of the balance sheet and its importance for making correct strategic decisions in modern business conditions. Balance sheet is a financial statement that contains information about the assets and sources of funds that a particular company has at its disposal. Based on the analysis of the balance sheet, it is possible, apart from data on available funds and sources of funds, to determine the company's property and financial position, liquidity and solvency, as well as short-term and long-term financial balance that are very important for the financial stability of the company. Therefore, the basic goal set by this paper is to look at the relevant role of the balance sheet analysis in strategic decision making in the modern business environment and modern of doing business of the company.
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Economic development is a very complex process. This is the reason and explanation for a number of definitions, and attempts of determining and describing. Economic development is a process of national economy with low incomes are transformed into a modern industrial economy with a middle, upper middle and high income. Also, economic development is the development of resources of countries or regions, or urban or rural areas for the benefit of their inhabitants, and a sustainable increase in living standards, which suggests an increase in per capita income, better education and health, and better environmental protection. Economic development can be characterized as a complex multidimensional concept that includes improvements to the welfare of the people in any definition of the word, and can be defined as a fast and stable economic growth, the increase of wealth, full employment, controlled inflation. To make it come to economic growth and development, it is essential that there are resources to finance development.
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Growth rate of Krasnodar Krai’s economy demonstrates a pronounced slowdown in recent years. This dynamics resulted from both the completion of the regions’ previous investment cycle and Russia’s macro trends. Thus, the assessment of the effect of Crimean Bridge on gross regional product (GRP) is of a great methodological and practical interest. I hypothesize that region’s investments in fixed capital stimulate production and trade turnover. They, in turn, contribute to the dynamics of GRP through the increase in cargo traffic. I implemented the proposed solution to assessing the effect of Crimean Bridge’s launch on Krasnodar Krai by constructing a systemic and dynamic model of the region’s basic industries. I took into account interrelated econometric equations including the simulation component of the macro environment factor. Econometric equations that form the model’s structure are based on the chain of nonlinear interdependences of capital expenditures and dynamics of the regions’basic industries. They affect the volume of cargo traffic and, in turn, influence economic growth. I constructed the systemic and dynamic model with the simulation component via structural modelling package iThink 9.0.2. I applied the data provided by Federal State Statistics Service and federal ministries. As a result, I obtained the matrix demonstrating the states of Krasnodar Krai’s economy. Probabilistic outcome of these states depends on the implementation of the scenarios of investment activities and cargo traffic. The conservative estimate of infrastructural effect suggests an additional increase in Krasnodar Krai’s GRP in the range from 0.8 % to 1.19 %. The model’s first limitation is that the investment level corresponds to the forecast of the Ministry of Economic Development. The second limitation is that the structure of investment in the region is comparable with the structure of investment in the period of construction of econometric dependencies that underlining the model. The proposed model can be further modified by refining and detailing the underlying equations. Moreover, it can include alternative distribution functions of scenario variables.
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The aim of the article is to present and analyze the deep transformations that have occurred in the retail trade of the FMCG in Poland after 1989. It presents the phase nature of the transformations of this market, which led to its current diversified structure. Both the development of domestic trade and the expansion of foreign trade corporations were taken into account. The content includes issues such as market diversification and concentration, development within particular formats and the phenomenon of convergence. The paper takes advantage of ongoing qualitative and quantitative research (since 2012) of the FMCG retail market in Poland by Kondej Marketing. The survey is based on aggregation and analysis of available secondary data, market observations and primary direct interviews. Particular emphasis is placed on the impact of the demand factor on the development and shaping of the structure of this market. The influence of disposable income on the situation within the retail market of the FMCG industry was comprehensively presented. The preferences and purchasing behavior of Polish consumers, which are unique on a European scale, were also taken into account. This applies, in particular, to the attitude of smart shopping and the tendency to buy in stores located near buyers’ place of residence. The article presents the thesis that the purchasing preferences of Polish consumers have a significant impact on the development of the sector and its structure
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Statistical data in chronological or dynamic series is different from the other data series ordered according to the time variable. This is the importance of studying the chronological series. One can determine the important role of the time factor in social economic phenomena as in other areas. In fact, in the economic and social life much of the data subject to research is constituted as chronological series. An important component of the chronological series along with trend, random and cyclical oscillations are seasonal oscillations. The article presents the methods by which seasonal oscillations can be analyzed.
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