The Impact of Tourism on Economic Growth in the Western Balkan Countries: An Empirical Analysis

Author(s): Nasir Selimi,Luljeta Sadiku,Murat Sadiku / Language(s): English Issue: 2/2017

Purpose: The purpose of this research paper is to empirically analyse the effects of tourism on economic growth in Western Balkan countries (Albania, Bosnia and Herzegovina, Croatia, FYROM, Montenegro and Serbia). Design/Methodology/Approach: The empirical analysis consists of 17-year panel data of 6 countries over the period 1998 to 2014. Several models are analysed using the panel regression econometric techniques. The study investigates the random and fixed effects, as well as individual heterogeneity across those countries. Also, the Hausman Taylor IV estimator is used as the most appropriate model for this analysis. The real income per capita of the sample countries is modelled as dependent on the lagged income per capita, tourist arrivals, tourism receipts, FDI stock, exports and government expenditures. Findings: The estimation results in all types of models, and indicate that tourism has a positive and significant impact on economic growth in the Western Balkan countries. The Hausman Taylor IV model suggests that for every 1% increase of tourist arrivals, the output will increase approximately by 0.08%. Research limitations/implications: Although the Hausman Taylor IV model performs well, the results should be interpreted with caution. The analysis has its limitations; firstly, the total number of observations is relatively small for a panel regression analysis; secondly, the problem of endogenity is not completely avoided. However, the study implies that these countries should enhance efforts for joint tourism sector policies to engender economic sustainability. Originality/Value: To our best knowledge, this is the first attempt of estimating the effects of tourism on economic growth in the Western Balkan countries using the Hausman Taylor IV model.

The development of the low-cost carriers’ business models. Southwest airlines case study

Author(s): Laura Diaconu (Maxim) / Language(s): English Issue: 1/2012

The aim of this paper is to analyze the development of the low-cost airline model, underlying the factors that have encouraged and/or inhibited the spatial and temporal spread of these operators. The study shows that there are significant differences in the business practices of the ‘low cost carriers’, depending on the particularities of the strategies that they have adopted, on how, when and where they were implemented, reason for which we refer to ‘business models’. In the end of the paper, we have conducted a detailed research, based on a questionnaire, on the company that has implemented for the first time the lowcost carrier model: Southwest Airlines.

Balanced scorecard – sustainable development tool

Author(s): Leontina Betianu,Sorin Briciu / Language(s): English Issue: Spec/2011

The sustainable management of a business requires the consideration of all the business components, both the economic activity and the aspects related to its impact on the environment and its social implications. The Balanced Scorecard (BSC) is a management tool supporting the successful implementation of corporative strategies. This helps connecting operational and non-financial activities that have a significant impact on the economic success of a business. BSC is therefore a promising starting point to include in a company’s management system both the social and environmental aspects. This paper deals with the traditional BSC and the current BSC development trends, which consider sustainability.

Rozwój kontenerowych przeładunków morskich w Polsce (na przykładzie DCT Gdańsk i BCT w Gdyni)

Author(s): Przemysław Zamachowski,Tomasz Rokicki / Language(s): Polish Issue: 4/2016

The article concerns the development of the maritime container transshipments in Poland in 2008–2014. Research is based on data from maritime container terminals BCT Gdynia and DCT Gdańsk. Issues related to multimodal transport and containers handling have been quoted and explained. Research have been conducted in order to determine the changes in transshipments volume in Polish container terminals and relationship between indicators of the economy and the volume of container transshipments.

W metodologiczno-dyskusyjnym sposobie zajmowania się kryzysem

Author(s): Stanisław Kaźmierczyk / Language(s): Polish Issue: 6/2013

In the article, the author discusses the issue of the crisis and wonders whether the economists, in the crisis environment, or while searching its origins, can pose the question towards the economy if it, on the basis of its current shape, is able to stand as the answer, what the crisis eventually generates and how it creates that. Going further, what must be creatively changed as far as science is concerned so as to receive the expected result.

The impact of intangible resources on economy in the EU

Author(s): Žaneta Karazijienė,Artūras Jurgelevičius / Language(s): English Issue: 2/2017

To maintain the growth rate and insure the secure and sustainable development of economies, EU countries have to come up with and manage a new source of growth – intangible resources. The intangible resources are relatively a new concept analyzed in scientific literature. A diverse, multi-angle and complex nature of intangible resources can be treated as a new factor in production function. In the knowledge based economy, creativity, generation of knowledge and transmission of it must interact with each other and be combined with entrepreneurship skills. Only interaction between these three key intangible resources could ensure the transition of economy to a new stage of economic development. The purpose of the research paper is to reveal econometrical relationship between intangible resources and its impact on economy in the EU. As a result of analysis, the theoretical framework to evaluate intangible resources has been provided and the accumulation level of intangible resources in EU countries has been estimated. The econometrical relationship suggests the intangible resources have a very important impact on GDP accumulated level. The findings reveal that highest level of intangible resources is observed in Finland, Sweden, Germany, Denmark and Luxembourg. The lowest rate of intangible resources is observed in Cyprus, Romania, Poland, Bulgaria, Lithuania, Latvia and Greece. The conducted research also revealed that there is a strong statistical relationship between input and output of intangible resources. The constructed econometrical model suggests that the modern economic growth much depends on the level of accumulated intangible resources in the country. The change of estimated composite indicator of intangible resources by 1% influences the change of GDP by 0.954%.

Sharing economy jako ważny trend w obszarze zrównoważonej konsumpcji

Author(s): Barbara Jaroszuk / Language(s): Polish Issue: 5/2016

The purpose of the discussion is to approximate the problem of shared consumption as a model of consumption, which largely opposes the traditional model of property-based consumption. The essence of sharing economy is cooperation, direct or using the Internet. The sharing economy includes such behavior as sharing, exchanging goods, borrowing, renting, reusing, volunteering, repairing, buying together. At present, it is difficult to clearly define the extent to which sharing economy is a manifestation of sustainable consumption. Certainly it is possible to some extent to materialize the consumption sector and to better promote services, but there is still a lack of research that will address the final impact of such practices on the environment. It should be emphasized at the same time that the sharing economy is conducive to maintaining modern social relationships and shaping mutual trust. The article is a review of literature.

The Role of Outdoor Markets in the Food Supply Chain of Regional Food in Poland

Author(s): Agnieszka Borowska / Language(s): English Issue: 3/2016

The article focuses on the importance of all-year and seasonal outdoor markets in the supply chain of regional food marked Protected Designation of Origin and Protected Geographical Indication. The author has elaborated on changes undergoing in the sales level and structure of outdoor markets in Poland between 2004 and 2013. Attention was paid to the role which is contemporary played by the concept of sustainability in the supply chain, especially the advantages of direct sales in case of regional products, in particular honey. The author used primary information sources originating from research done in the period 2012-2015 among all 35 honey producers of 5 types of regional honey marked with PDO and PGI, as well as the data from Central Statistical Office. The article ends with thoughts on the possibility of developing direct sales of quality food of animal and plant origin through outdoor markets in Poland.

Czynniki rozwoju rynków elektronicznych B2B

Author(s): Dariusz Strzębicki / Language(s): Polish Issue: 3/2016

The aim of the paper is to identify the factors affecting the development of B2B electronic markets. The article belongs to the category of literature review and uses the deductive approach. The paper discusses the nature of electronic marketplaces, the benefits of participation in e-marketplaces, and the problems encountered in their development. An analysis of the factors promoting and impeding development of the selected B2B electronic marketplaces from different countries has been conducted. The analysis revealed similar factors affecting the development of e-markets, which include widening the supplier base and a set of buyers, eliminating middlemen, more effective pricing and supporting cooperation in the supply chain. The article shows that the development of the electronic B2B marketplace regardless of the owner type is a complex project, which development depends on many factors inherent in the electronics marketplace, enterprises, which are its participants, and environmental factors.

Alternatywne formy konsumpcji wobec konsumpcjonizmu

Author(s): Felicjan Bylok / Language(s): Polish Issue: 2/2016

There is a multitude of varying theories to be found in literature in terms of approaches relating to the direction of the development of consumption. Some of them perceive consumerism and the culture of consumption as the driving forces of contemporary consumption, while others indicate the social movements of consumers in the pursuit of the restriction of over-consumption. The principal aim of this paper is a description of the alternative forms of consumption with regard to hyperconsumption stimulated by the ideology of consumerism. The realisation of the assumed aim was rendered possible thanks to the application of the method of critical analysis of both national and international literary sources with reference to consumption. As a result of research, various alternative forms of undertakings have been indicated which restrict the impact of the ideology of consumerism in terms of consumer decisions. The anti-consumption movement has been illustrated as a counterbalance to consumerism. The practical implications of the research run are the indication of the two contrasting directions of the development of consumption, namely the increased consumption of goods to satisfy higher level needs and the growing significance of the attitudes and behaviour associated with the restriction of consumption. However, the social implication of the paper is an emphasis of the significance of the forms of alternative consumption in terms of the development of consumption itself.

Procesy konsumpcji – nowe tendencje i formy

Author(s): Aniela Styś,Stanisław Styś / Language(s): Polish Issue: 2/2016

The main purpose of the article is to pay attention to the new trends in the consumption process. They show the important role of the consumer in development processes, especially the connection with many contemporary social, economic, and ecological problems. Based on the review of the world literature, the authors present the main trends in consumption. The most important are those that change consumer perception of the expected value. The results of these analysis could be used for business strategy improvement.

Alternatywy dla dochodu podstawowego: przegląd krytyczny

Author(s): Guy Standing / Language(s): Polish Issue: 24/2017

A chapter of Guy Standing's book „Basic Income: And How Can We Make It Happen”. The author analyses several policies aimed at dealing with economic crises, inequality and poverty: minimum wage, contributory social insurance, means-tested social assistance, subsidized food, tax credits, workfare and job guarantee. He evaluates those policies with regard to social justice principles and compares them with basic income.

Wielokryterialna ocena projektów bezwarunkowego dochodu podstawowego i gwarantowanego zatrudnienia

Author(s): Mariusz Baranowski,Bartosz Mika / Language(s): Polish Issue: 24/2017

The main aim of this article is to compare two widely discussed proposals for the reform of the developed welfare state: Unconditional Basic Income and the Job Guarantee. These proposals will be reviewed by taking into account the costs and the financing conditions, the impact on the existing the social security network, the impact on income inequality, the emancipation effect and the political possibilities of implementation. The conclusions highlighted in the summary focus on the differing needs of the core and peripheral countries, and suggest that a small empirical experience of the UBI, its potentially unfavorable macroeconomic impact, and the uncertain emancipation points towards the more convincing proposition of a job guarantee.

„Inny świat jest możliwy”: z gwarantowaną pracą czy z gwarantowanym dochodem? Przypadek Marinaledy

Author(s): Angelina Kussy,Félix Talego Vázquez / Language(s): Polish Issue: 24/2017

The article presents the results of two periods of long-term fieldwork in Marinaleda, an ‘anti-capitalist’ Spanish village. It aims to reflect on the genealogy of the modern understanding of the term ‘work’ and to critically approach its philosophical and anthropological assumptions. We want to prove that the proposition of the village, declared by alter-globalists as the practical realisation of the slogan ’another world is possible‘, is based on their striving to reinforce the condition of people as workers and actors in the ‘production’ process. In Marinaleda, both the prevailing discourse and social practices in fact focus on ‘work’; this term however — according to the gathered ethnographic interviews and observations — remains to be understood by the supporters of the ‘alternative’ project in a way that has been shaped in the modern West, and is thus not any different from the definition of ‘work’ in capitalism. We therefore want to address the question of limits of the emancipation projects that do not challenge the concepts of ‘work’ and ‘production’. Furthermore, we believe that adopting the construct of work that started to be formulated in the time of mercantilism and matured in the liberal and subsequently Marxist thought is related to taking a position of subordination. This is why we suggest Universal Basic Income as one of the tools that can weaken the link between the subject and such understood ‘work’ and consequently reinforce its political ties.

Etyka troski a gospodarka przyszłości

Author(s): Zofia Łapniewska / Language(s): Polish Issue: 24/2017

For decades, economic theories have been changing due to historical events and economic turbulences, yet each time they have had an actual impact on the lives of societies. Today, when neo-liberal theories are no longer appreciated, the divide between the richest and the poorest members of society is growing almost exponentially, and technological development drastically changes working conditions, new visions of a future economy are needed – ones in which everyone can find their place and live a life worth living. My suggestion is that this economy should be based on the ethics of care – a line of argument presented in this article. It opens with an outline of the ongoing economic changes. There then follows an explanation of the importance of ethics of care, as well as of the care necessary for the development and reproduction of societies, as the main framework for further consideration of job guarantee and unconditional basic income, to which the subsequent sections of the article are devoted. The analysis of these theories from a feminist perspective will also be enriched with proposals for additional solutions that go beyond the current paradigm of growth.

Jakie są względne zalety makroekonomiczne i wpływ na środowisko płynące z bezpośredniego tworzenia miejsc pracy oraz dochodu podstawowego?

Author(s): Pavlina R. Tcherneva / Language(s): Polish Issue: 24/2017

There is a body of literature that favors universal and unconditional public assurance policies over those that are targeted and means-tested. Two such proposals—the basic income proposal and job guarantees—are discussed here. The paper evaluates the impact of each program on macroeconomic stability, arguing that direct job creation has inherent stabilization features that are lacking in the basic income proposal. A discussion of modern finance and labor market dynamics renders the latter proposal inherently inflationary, and potentially stagflationary. After studying the macroeconomic viability of each program, the paper elaborates on their environmental merits. It is argued that the “green” consequences of the basic income proposal are likely to emerge, not from its modus operandi, but from the tax schemes that have been advanced for its financing. By contrast, the job guarantee proposal can serve as an institutional vehicle for achieving various environmental goals by explicitly targeting environmental rehabilitation, conservation, and sustainability. Finally, in the hope of consensus building, the paper advances a joint policy proposal that is economically viable, environmentally friendly, and socially just.

Problemy z argumentacją zwolenników Nowoczesnej Teorii Pieniężnej przeciw dochodowi podstawowemu: Komentarz do tłumaczenia

Author(s): Maciej Szlinder / Language(s): Polish Issue: 24/2017

Dlaczego trzeba wprowadzić bezwarunkowy dochód podstawowy? Recenzja z książki Guya Standinga “Basic Income: And How Can We Make It Happen”

Author(s): Mikołaj Ratajczak / Language(s): Polish Issue: 24/2017

A review of Guy Standing's book "Basic Income: And How Can We Make It Happen". Author reconstructs two general lines of Standing's argumentation for introducing basic income: the analysis of the "corruption of capitalism" in the context of the eponymical publication from year 2016 on the one hand, and the presentation of UBI as a universal law providing the freedom from domination.

O niebezpieczeństwach fetyszyzacji – czyli komu zawdzięczamy rewolucje technologiczne?

Author(s): Maciej J. Grodzicki / Language(s): Polish Issue: 24/2017

The aim of the article is to present the arguments of the work of Marianna Mazzucato, The Entrepreneurial State, in the context of the neoschumpeterian economics. The author demonstrates the key role of state institutions in creating breakthrough technologies and undermines the conviction of innovativeness as an exclusive attribute of private enterprises.

Michał Kalecki i problem racjonalnej alokacji zasobów w socjalizmie

Author(s): Damian Winczewski / Language(s): Polish Issue: 24/2017

The aim of this article is the reconstruction of the views of Michael Kalecki and his followers on rational calculation and allocation of resources in a socialist economy, and also to try to compare their statements with the views of both supporters of capitalism, as well as alternative models of socialism. In this matter the piece examines articles of Polish economists on the pattern formation of prices in capitalism and socialism, the role of the working class and the system of incentives and economic governance. In this paper, we have also discussed the views of the authors who, based on the work of Kalecki, took up a controversy with a circulation narrative explaining the failure of socialism. The conclusion that flows from the preceding analysis is as follows: Real capitalism and real socialism struggle with problems of imperfect information, and soft budgets; a particular model of economic management in this regard is not the direct cause of the failure of the socialist project. In addition to the problem of innovation and optimal investment, from the Kaleckian perspective, a fundamental problem of socialism appears to be the appropriate relations of production in the Marxist sense, understood as democratization of the relationship between the working class and the production management layer.