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THE ITALIAN WAY TO FINANCIAL ACCUMULATION. PERSONAL NETWORKS AND INFORMAL PRACTICES OF THE ITALIAN ECONOMIC ELITES

Author(s): Joselle Dagnes,Angelo Salento / Language(s): English Issue: 2/2016

This paper challenges the belief that Italian capitalism is a static and unchanging one. Italian capitalism has retained some unique characteristics: an elitist structure, close personal relationships, a high degree of informality. However, far from being just the characteristics of an unchanging capitalism, these peculiarities were the resources that Italian capitalism exploited to change its mode of action. First, we identify the network of interlocking actors in the Italian stock market and their set of informal practices, illustrating the paramount role of families and informal relationships. Second, we show why these characteristics did not prevent Italian capitalists to enter an era of financial accumulation. Resilience is the keyword, understood both as adaptation to changing conditions and as active reaction, a proper transformation. As an example of adaptation, we analyse how Italian capitalism has faced some institutional changes preserving its traditional power structure. As an example of transformation, we show how Italian capitalism adopted patterns of financial accumulation and maximization of shareholder value. Finally, we argue that informality and the dissemination of personal relationships are not impediment to change: in the practical logic of social and economic actors they are rather resources to be exploited when it comes to make changes without sacrificing the status quo.

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Neoliberalna deregulacija kao biopolitička paradigma savremenog kapitalističkog društva

Author(s): Sonja Kuzmančev-Stanojević / Language(s): Serbian Issue: 1/2017

The main task of this paper consists in the analysis of neoliberal deregulation as biopolitical paradigm of contemporary capitalist society. The paper starts from the premise that the political strategy of deregulation clearly can be unmasked as a change of direction and the domain of government intervention or as some kind of re-regulation which implies a shift from state interventionism towards management that enables market. The neoliberal premise of deregulation does not imply a lack of government intervention in general, but rather a lack of government intervention in the economy while providing the same (market) economy to prosper. However, this is not (just) the result of actually existing neoliberalism, which would in practice of its implementation significantly departed from what could be called a postulates of neoliberal theory.Following the arguments of Michel Foucault, it becomes clear that neoliberalism is already in its theoretical and conceptual core a new technology of government, given that significantly departs from the political principles of the release of the market to operate as a self-regulatory mechanism, or the liberal premise of laissez-faire. This shift does not imply a change just in the economy of liberalism as much as in the liberalism as art of governing or governmentality doctrine. At the same time, the paper stresses that, despite the erosion of national sovereignty, biopolitical organization of power over life in the era of neoliberalism is not disappeared, but has taken on a new global and hegemonic form. It is not more biopolitics of single population, which has a clearly delimited border. It is now the overall organization of power over life, one that govern „without government”, because it is handled by human aspirations, wishes, happiness, fears, etc., internalizing as a global common sense, unquestionable modus vivendi and the global regime of truth.

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Instrumenty wspierania rozwoju gospodarczego w systemie zarządzania gospodarką lokalną w współczesnej Polsce

Author(s): Andrzej Kozera / Language(s): Polish Issue: 1/2012

The local authority should play a significant role in shaping the local development economic plane because according to the idea of self-government their task is to control the development of the local economy. The obligation to assist entrepreneurs in running a business is self-government’s primary task. Without the participation and help of self-government bodies the permanent and distinct economic development is not possible. It can be done only when the business activity of entrepreneurs in every region meets with the appropriate support. Local governments should be partners to entrepreneurs, serve them with comprehensive information as well as assistance. Since all governments care, or at least should care, about the economic development of a given area, this implies that particular self-governments are in huge competition for investors, investments and locations of new entities.

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Gospodarka Chińskiej Republiki Ludowej w warunkach reform systemowych

Author(s): Dariusz Wojnarski / Language(s): Polish Issue: 1/2008

The year 1978 initiated a new stage in the economic development of China. The communist country leaders decided that there were reasonable grounds for the development of the market system and a wider co-operation with the capitalist countries, which would include the facilitated import of the goods from abroad – the essential factor in modernization. The 90s witnessed progressive reforms in the system, as well as the entry into the international economic structures, e.g. The World Bank, International Monetary Fund, and later World Trade Organization (2001). Those changes resulted in the departure from the patronizing customs policy, limitations of subsidies, and the privatization of national enterprises. The undertaken reforms accelerated the economic growth, since then fueled by export and subsequent foreign capital stock investments.

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Europa mai aproape de tine

Author(s): Narcis Jitaru / Language(s): Romanian Issue: 1/2012

With the integration into the European Union in our country there have been established several specialized centers on communication and information for different groups of people and institutions. I will now report some of these European centers’ active role in public debates and public activities. The “Europe Direct” European Information Centers have a pro‑active role in stimulating public debate and dialogue. They are hosted by various NGOs, municipalities, county councils, universities and municipal libraries. Among the 30 Europe Direct centers in Romania are: Europe Direct Bacau, the host structure Alecsandri University of Bacau, Europe Direct Comanesti host structure Comanesti City Hall. The “Europe Direct” network is coordinated by the European Commission Representation in Romania by Ioana Marchis – communication advisor. Other European information centers: the European Documentation Centre (EDC) study and research promoting and enhancing European integration. CDE is working in Universities and research institutes and make available to students and professionals comprehensive information on legislation, policies and institutions of the European Union; the Cultural Contact Point (CCP) is an office to promote the Culture Programme (2007–2013) in Romania; Enterprise Europe Network helps SMEs to develop their innovative potential and to raise their awareness on Commission policies; EURES provides information, advice and services recruitment /placement (finding candidate / job right) in benefit workers and employers, as well as any citizen wishing to benefit from the free movement of persons; EURODESK responses to requests from young people about EU funding opportunities, as well as those related to mobility; SOLVIT is a network solution problems, in which EU Member States work together to solve without using legal procedures, problems occurred due to improper application of Internal Market law by public authorities.

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FRAGMENTATION OF TRUST. ECONOMIC GROWTH, SOCIAL INEQUALITY AND THE NEW INTERFACE OF THE INDIVIDUAL FEARS

Author(s): Radu Gheorghe / Language(s): English Issue: 2/2020

According to the Edelman Trust Barometer 2020, beyond the presence of a strong global economy and a very low level of unemployment, people not longer trust institutions. In their opinion, even in the current favorable living circumstances, they see the future more uncertain than ever. In their vision, a first step would be that the trust in institutions, now undermined by the proliferation of inequity and inequality, to be “granted” only on the basis of “two criteria”: competence (the institution has “the ability to deliver on promises”) and ethical behavior (the institution “acts correctly and contributes to change for the better of society”). The people phylosophy is a new one: they have interests not only in the application of technical knowledge (what you do), but especially in the ethical meaning of behavior in the social actions (how you do). Moreover, the people is increasingly interested in slowing down and in stopping the vehicle of social polarization and then in forcing the start of debates centered on social inequality. (Edelman Trust Barometer, 2020)

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Medicine of the Future: The Power of Artificial Intelligence (AI) and Big Data in Healthcare

Author(s): Julia M. Puaschunder,Josef Mantl,Bernd Plank / Language(s): English Issue: 1/2020

Artificial Intelligence (AI), Robotics and Big Data revolutionized the world. Digitalization opened unprecedented opportunities and potentials in healthcare. No other scientific field grants as much hope in the determination of life and death and fastest-pace innovation potential with economically highest profit margin prospects as does medical care. The currently ongoing digital disruption enabled big data-driven tailored personal medical care. Efficiency, precision and better quality work are beneficial advancements of AI and big data in the healthcare sector. Decentralized preventive healthcare and telemedicine open access to personalized, affordable healthcare. The currently ongoing COVID-19 crisis draws attention to international differences in healthcare. The article presents digitalization in the healthcare sector in North America and Europe in order to derive inferences on opportunities to establish a leadership in digitalized, tailored healthcare solutions for individual well-being and public care.

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Modelling the Impact of International Migration on Economic Development of a Country: Case Study of Ukraine

Author(s): Viktoriia Adamyk,Liana Chernobay,Oleh Kuz'min,Svyatoslav Malibroda / Language(s): English Issue: 01/2020

The article presents an attempt to combine some of the links between migration and development into a model to evaluate the influence of migration on economy of sending and receiving countries and then define the factors of this kind of an influence. Developed model describes the migration influence on GDP, consumption, budget revenues and expenses, current account balance receipts and expenditures, labor force, unemployment rate. Calculation methodology with limitation for use is provided. The end of the article presents the results of calculations for Ukraine as the sending country according to the proposed model during 2010 – 2015.

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A KNIFE TO A GUNFIGHT: ENDOGENOUS DEVELOPMENT THROUGH LEADER AS CONTRADICTORY POLICY PRESCRIPTION

Author(s): George Iulian Zamfir / Language(s): English Issue: 1/2020

By now a preferred EU instrument aimed at stirring rural development, LEADER initially constituted an alleged departure from the top-down productivist agenda of the CAP towards locally-led development. The exogenous-endogenous explanatory model legitimized the adoption of economistic assumptions into EU rural development policy. As the CAP policy genealogy conveys, agricultural policies occurred at the intersection of internal and external factors, whereas the endogenous framework evicts structural explanations for territorial marginalization. A case study from North-western Romania provides details on the implementation of the endogenous agenda from the perspective of public actors. Rather than inducing an alleged alternative development model, LEADER acts as adjuvant to other policies and, overall, as a pedagogical exercise in uneven development.

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Social Factors in the Digital Government Formation in Russia

Author(s): Vladimir Petrovich VASILIEV,Natalia Gennadievna DEKHANOVA,Yury Aleksandrovich KHOLODENKO / Language(s): English Issue: 2supl1/2020

Transformation of the e-government into the digital one is analyzed in the context of postmodern socio-economic factors. The stages of implementing accessibility and openness of executive authorities in the framework of administrative reform in the Russian Federation are presented. The weak and strong sides of forming accessibility of authorities in the electronic environment are identified. The risks of the digital divide associated with factors not only of an economic but also of a status nature are identified. Data on the use of digital communication by the population related to the conditions of social and spatial development are presented. The article considers the target directions of the transition to the digital government technology platform and the expected results in the short term. The transition from electronic to digital development of public administration is defined as a path to project management based on the creation of a new material base and the implementation of the principles of sustainable development. The social components of the transition – elimination of social Internet exclusion-are shown.

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Zróżnicowanie płacy w Polsce w ujęciu regionalnym i jej wpływ na proces wzrostu gospodarczego

Author(s): Damian Mowczan / Language(s): Polish Issue: 02/2015

The article presents the statistical series characterizing the uneven distribution of wages in Polish voivodships in 2000–2010, measured in concentration Lorenz index. This information was used to examine the relationship between wage differentials and economic growth at the regional level. The optimal level of wage differentiation understood as the level that maximizes the rate of economic growth was determined.

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Wpływ zagranicznych inwestycji bezpośrednich na gospodarkę świata oraz wnioski wynikające z niektórych modyfikacji systemów ekonomicznych

Author(s): Jacek Ziemiecki / Language(s): Polish Issue: 02/2015

Foreign direct investment is one of the most dynamic cells of the global economy since the success of the GATT (General Agreement on Tariffs and Trade) on customs reductions. Growth trend is strongly supported by the population of developed countries, which passes more and more funds for investment, where income exceeds the level of extra-consumption. These investments and other of transnational companies are increasingly invested in developing countries, where the rate of return on invested capital are generally higher than in developed economies. This is reflected also in the more or less developed countries of the European Union.

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TÜRKİYE’DE İHRACAT VE İSTİHDAMIN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİSİ: ARDL SINIR TESTİ ve VECM NEDENSELLİK TESTİ YAKLAŞIMI

Author(s): Ali Konak / Language(s): Turkish Issue: 1/2020

It is possible to say that there are many macro sizes used to evaluate the development level and economic structure of a country, however, among these macro sizes, changes in export volume, employment rate and economic growth rate come to the fore. These macro variables affect each other directly or indirectly and significantly. The impact of export volume and employment rate developments in Turkey on economic growth and the direction of the relationship, using the annual data from 1991-2018 from the World Bank data system, ARDL (Auto Regressive Distrubuted Lag Models) was analyzed with the boundary test approach and VECM (Vector Error Correction Model) causality test. As a result of the analysis made, test results of the error correction model based on ARDL shows that a unit deviation that will occur in the short run in the series reaches equilibrium in 0.76 period, and in approximately 9.1 months on year basis. According to the estimates of the ARDL model, 1% increase in exports during the period examined increases economic growth by approximately 0,48%. In other words, increase in exports by 10% (e.g. increasing from 70% to 80%) increases economic growth by 4.8% (e.g. from 5% to 9.8%). Finally, when the direction of causality relationship between the variables is examined, there is only one way causality relationship from economic growth to export in the short term. However, it was determined that there was no causality relationship between the other variables. In the long term, there is a two-way causality relationship between exports and economic growth, as well as a one-way causality relationship from unemployment to economic growth. However, it was concluded that there was no any causal relationship between economic growth and unemployment.

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Comparative Analysis of R&D in the Visegrad Group Countries in the Years 2004–2018

Author(s): Małgorzata Jabłońska / Language(s): English Issue: 4/2020

The purpose of this paper is to present a comparative analysis of basic measures that demonstrate the development of R&D in the Visegrad Group countries (Poland, the Czech Republic, Hungary, and Slovakia) in the years 2004–2018. The preliminary analysis of the problem allowed for the formulation of a research hypothesis, which reads: Since becoming a member of the EU, the innovation of the economies of the Visegrad Group countries has improved. The analysis shows that the structure and dynamics of R&D expenditure in these countries are diverse, although the innovation potential of the regions of the Visegrad Group countries is still low compared to the average EU level.

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An Empirical Study of the Effects of Demographic Factors on Economic Growth in Advanced and Developing Countries

Author(s): Serhii Kozlovskyi,Mykola Pasichnyi,Ruslan Lavrov,Natalya Ivanyuta,Anton Nepytaliuk / Language(s): English Issue: 4/2020

In this article, an updated approach to investigate the effects of demographic factors on economic growth is proposed. The initial hypothesis was that these factors significantly affected production proportions, determining development vectors. The predictable shifts in production dynamics are considered for the institutional framework. The article investigates the statistically significant relationships between the demographic variables and economic growth for the sample of the OECD countries (excluding Columbia) and Armenia, Belarus, Bulgaria, Croatia, Georgia, Kazakhstan, Romania, the Russian Federation, and Ukraine, from 1990 to 2017; unbalanced panel data was used. The investigation aimed to highlight the intrinsic interconnection between the changes in demographic variables (e.g., the working‑age population growth rate and the average life expectancy growth rate) and economic growth. Our investigation focused on the issue of whether demographic influence on economics was the same for advanced and developing countries in the sample. Over the period, a significant increase in life expectancy adversely affected the real GDP per capita growth rate. However, the empirical study pointed out that life expectancy was strongly linked to nominal GDP per capita. In advanced countries, the demographic indicator was considerably higher than in emerging markets. We found that the rise in the working‑age stratum of the nation’s population radically reduced the output dynamics as well, but that interconnection was not robust. The institutional framework should be taken into account in order to achieve a favorable performance of public governance in the long‑run. The main demographic variables should be properly forecasted and calibrated for potential endogenous economic triggers. Both public and private investments are important when considering the economic growth rates that are achieved. We propose a balanced approach to macroeconomic policy regarding both demographic and institutional determinants.

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An Economic Value Approach to Intellectual Capital Accounting: A Case Study of Oman's Hospitality Industry

Author(s): Sandeep Ojha,Mohammed Bakhit Kashoob / Language(s): English Issue: 2/2020

In the earliest ages people's commercial activities were predominantly based upon direct haggle system and subsequently, the keeping of records wasn't a part of commercial entities. Later on, in production activities, people started using some initial inputs thus, trifling prerequisite of estimation and transactions in monetary term was realized that helped to originate the coins and alternative currencies. Most of the transactions were wiped out of money, and principles of transactions upon credit terms became a part of business activities, recording of transactions became a compulsion to know the amount were outstanding to him by his customers and what as owing by him to his creditors. Now the day’s commercial activities have reached at its advanced stage. In any form of business two categories of resources are used; active resources and inactive resources. A business cannot be operated without human resource. Human resource also be called as active resource as it uses the non-active resource and makes it doable to the most effective utilization of that inactive resource (Ojha 2013). We can understand that in contemporary production troposphere the indispensability of human resource has been reduced up to a great extent but still without a minimum quantity and quality of human resource, a business cannot be operated. Hence, the human resource will continuously have greater degree of favorable position over the inactive resources. This paper is an effort to explore prevailing practices of HRA in hospitality industry of Dhofar region in Sultanate of Oman by applying reformed Lev & Schwartz model.

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THE IMPACT OF MIGRATION ON THE COUNTRY OF ORIGIN

Author(s): Brînduşa-Mihaela Radu,Mariana Bălan,Carmen Uzlau / Language(s): English Issue: 3/2020

The analysis of the problems related to the migration of Romanians presupposes the detailed knowledge of the motivations and characteristics of the migrants, of their circulation, but also of some related data, whose influence on the migration phenomenon can be direct or indirect. Knowing the motivations of Romanians to emigrate, but also the strategies used to leave Romania, can give us an overview of the migration phenomenon, with all the variety it covers. These strategies were adapted according to the period in which they migrated, but also according to the possibilities of each individual. Until 2014, the strategies used were: permanent (stable) migration, circular migration, internal migration, return migration and double migration (remigration). After 2015, a new orientation emerged (multiple migration), determined in particular by the fact that these migrants could not adapt to the places where they resettled. These areas represented either Romania or other places in the countries belonging to the European Union1. The migratory itinerary and social networks argue the existence of the social capital necessary to obtain the migration project. The migration phenomenon can largely be considered positive for the country of origin, but this phenomenon can also have negative consequences: due to the migration of women of childbearing age; due to the fact that migrants are not only those with an average level of education, but also an important part of intellectual capital; due to the accentuation of depopulation in rural Romania (visible consequence of migration), which has intensified especially in the last two decades (Aceleanu, 2011).

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RISK MANAGEMENT IN PUBLIC ENTITIES – MANDATORY ELEMENTS

Author(s): Viorel Bulmez / Language(s): English Issue: 3/2020

In its historical dimension, risk is a young concept while being one of the few business terms with direct origins within the commercial and financial field, and not derived from the military, psychologically or scientifically vocabulary. A general response to the following question: ”why is it necessary a risk management?” is induced by the observation which proves that in any organization, or field that this one takes action into exists uncertainties seen as threats in accomplishing the given objectives. Therefore, to implement functional politics of management of risk in the public entities it is necessary to follow some mandatory steps: Understanding the concept of risk by the management of the public entities; Awareness of internal and external factors of risk; Identification of risks which may negatively affect necessary activities for accomplishing the objectives of public entities; Evaluation and ranking of risks; Establishment and implementation of countermeasures of risks; and Periodic evaluation of risk’s level.

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Progress in Achieving Sustainable Industrial Development – the Case of the Czech Republic and Poland

Author(s): Marta Ulbrych / Language(s): English Issue: 4/2020

The aim of this paper is to clarify the concept of sustainable industrial development and present the results of a study on the progress in achieving goals in this field adopted by the United Nations (UN) in 2015. The research covered the Czech and Polish economies in the period 2000–2018. Under the United Nations 2030 Agenda for Sustainable Development, the need to promote inclusive and sustainable industrialisation was identified. In the context of sustainable industrial development, it is emphasised that it should encourage a competitive economy, create employment, and protect the environment by efficiently utilising non‑renewable resources. To assess this phenomenon in the analysed economies, indicators identified by the UN under SDG9 were used.

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Evoluții și politici demografice

Author(s): Ioan M. Copil / Language(s): Romanian Issue: 4/2006

Preoccupation with the evolution of the population, globally or regionally, is the core activity of various international bodies. Demographic policy programmes are included in the agenda of European Union summits and special bodies. Family planning programmes initiated by non-governmental organizations all over the world are financed through the United Nations Fund for Population Activities. The purpose of population programmes consists, beside reduction of the growth rate of the world population, in fighting against demographic pollution phenomena: demographic explosions and implosions, lack of demographic education, limited access to education, information and training, imbalance between the population growth rate and the diminution of natural and processed resources, the population ageing, genetic and behavioural degenerations, etc.

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