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ANALYSIS OF REGIONAL DISPARITIES IN THE SLOVAK REPUBLIC BY EXAMINING SELECTED INDICATORS

Author(s): Milan Maroš,Jarmila Hudáková,Michal Levický / Language(s): English Publication Year: 0

Regional disparities are typical for many countries of the world, as well as for the Slovak Republic. Increasing regional disparities is not in the interest of any country, and is, therefore, a constantly monitored issue. The aim of this article is to analyze the development of regional differences in the Slovak Republic through selected indicators. We performed the analysis at the level of the NUTS III category in the years 1995 to 2018. As selected indicators, we have chosen the development of regional GDP per capita in euros and in purchasing power parity. Several methods can be used to examine the evolution of regional differences. We mainly used the characteristics of variability and also the average growth rate, with which we tried to identify changes in regional differences over time. We found that in the observed period, the differences between the regions of Slovakia increased overall, but the increase in differences prevailed mainly in the pre-crisis years. In recent years, we have seen a slight convergence between the regions. The government in each country always tries to put in place different measures to address this issue, but it does not always succeed. Given the current world situation associated with COVID- 19, it is very difficult to predict developments in the coming years.

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The Finance-Growth Nexus for Turkey over the Period 1960-2020: A Markov-Switching Regime Shift Model

Author(s): Ahmet Gökçe Akpolat,Hasan Tansoy / Language(s): English Publication Year: 0

This paper addresses the finance-growth relationship employing Markov-switching regime shift model for Turkey over the period 1960-2020. Growth rate of real GDP is employed as a measure of economic growth while the change in ratio of broad money to GDP and the change in the ratio of domestic credits to GDP are used as two indicators of financial development. Findings show that a positive change in the ratio of broad money to GDP reduces the economic growth rate both before and after the global crisis. On the other hand, a positive change in the ratio of domestic credits to GDP increases the rate of economic growth in both of these two periods. Moreover, an increase in the ratio of broad money to GDP reduces the economic growth rate less before the global crisis than after the global crisis. Similarly, an increase in the ratio of domestic credits to GDP increases the economic growth rate more before the global crisis than after the global crisis. As a general assessment, it is seen that the positive effect of finance on the Turkish economy has weakened after the global crisis. In addition, it is considered that an increase in the money supply more than the economic growth rate can decrease the potential growth rate of the country.

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İstanbul Hisse Piyasasının Evrimi: Galata Bankerlerinden Borsa İstanbul’a Yolculuk

Author(s): Nuri Volkan Kayaçetin / Language(s): Turkish Publication Year: 0

The trading of capital assets in İstanbul, which has begun in the second half of the 19th century with the trading of debt securities among Galata merchants in the process of transitioning into a financial bourgeoisie, continues today under the roof of the modern Borsa İstanbul campus in Sarıyer, İstinye. This study discusses the evolution of capital asset trading activity in Istanbul from the late Ottoman period to the present day in the light of socioeconomic developments and events that have affected the economy. In this process, the exchange survived three moratoriums (1875, 1895 and 1958), two world wars (1914-1918 and 1939-1945), and more than a dozen economic crises and managed to emerge stronger from the bottlenecks experienced. Our modern stock exchange started its operations in its Cağaloğlu building with only 19 listed shares under the name of Istanbul Stock Exchange (ISE) on January 3, 1986, and merged with the Futures and Options Exchange and the Istanbul Gold Exchange on April 3, 2013, under the name of Borsa İstanbul (BIST). With 501 listed shares, a total market capitalization exceeding 1 trillion Turkish liras, and a monthly trading volume in excess of 100 million lots, BIST globally ranks thirty-seventh in terms of its market capitalization and first in terms of its average share turnover today.

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Frequency Domain Causal Effects of Geopolitical Risk and Economic Uncertainty on Green Bond Market Around the Invasion of Ukraine

Author(s): Remzi Gök / Language(s): English Publication Year: 0

We analyze causal effects of geopolitical risks and economic uncertainty indices on the green bond market, utilizing two causality tests, around the military conflict in Ukraine. Consistent with the existing literature, the results of Toda and Yamamoto (1995) and Breitung and Candelon (2006) in the static framework show no causal flows from geopolitical risks throughout the period, either before the war or during the war. Further, we find no evidence for both temporary and permanent causal impacts from the geopolitical risks on green bonds. However, we see that changes in economic policy uncertainty Granger-causes fluctuations in green bonds in both full and during the invasion of Ukraine. The results also reveal that the causality is temporary and permanent over the full period; temporary before the war; but turns out to be permanent and stronger during the war, indicating that uncertainty index can exert causal impacts on green bond indices regardless of market conditions and strengthens its power across extreme market conditions. Further, we resort to a time-varying approach of Breitung and Candelon (2006) causality test based on a rolling window of 50 and 60 daily observations. We find that the causal flows from both indicators appear significant and those causation impacts are not constant but time-varying. Economic policy uncertainty is stronger than geopolitics risks in forecasting the movements in green bonds given a higher rejection of the null hypothesis for the former variable. The causality is mostly permanent rather than temporary and the causation impacts from both variables are stronger during the war.

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Osmanlı Tarih Yazıcılığında Biyografi Türü: Taşköprülüzade’nin eş-Şakaiku’n-Nu‘mâniyye Eseri Üzerinden Genel Bir Değerlendirme

Author(s): Nejla Doğan / Language(s): Turkish Publication Year: 0

The present paper attempts to focus on the first work of biographical dictionary, al-Shaqâ’iq al- Numâniyya, which was completed in 1558 by the famous Ottoman scholar Ahmad b. Mustafâ Tasköprüzâde. After making a brief evaluation on the development of the biography genre in Ottoman historiography, the importance of Shaqâ’iq, which left its mark on the 16th century, and its related problems were discussed. The work, which contains valuable information about the biographies of important scholars, has not been evaluated as a simple collection of “life narrative”. The main problem of the study is to consider how to approach or how one should read this monumental book including biographies of ulema/jurists and sufi masters. As a result of the analysing and discussion held in the light of secondary sources, the biography data shows that they are fond of recording the life stories of the Ottoman world, as well as giving information about the type of biography of the period. Shaqâ’iq, containing biographies of sheiks and ulema, should be consulted for understanding the Ottoman cultural and scientific world rather than as a data collection purpose. It has been concluded that we can catch clues about the socio-economic and political networks of the Empire when we approach the work in question, which we will obtain more than factual information.

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Doğrusal Olmayan ve Fourier Temelli Birim Kök Testleriyle Dış Borçların Sürdürülebilirliği: MINT Ülkelerinden Ampirik Kanıtlar

Author(s): Ali Çelik / Language(s): Turkish Publication Year: 0

The study aims to investigate whether the external debts of Mexico, Indonesia, Nigeria, and Turkey (MINT) countries are sustainable. For this purpose, we test the data for the years 1970-2021 for four different ratios representing external debts employing ADF(1979), RALS ADF (2014), Kruse (2011), Fourier ADF (2012), Fourier KSS (2012), Flexible Fourier (2012), Omay (2015) and Güriş (2019) unit root tests. According to the results of the analysis, it is determined that the total external debt and short-term external debt stocks are not sustainable in all countries. However, it is seen that the long-term external debt stocks of Turkey and Nigeria and the share of external debt stock in total reserves are sustainable. Especially Fourier KSS (2012) unit root test results show that the share of external debt stock in total reserves is sustainable for all countries. The Guris (2019) unit root test also produces a similar result for the same series, except for Indonesia.

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Kadro Dergisinden Yönetim Anlayışı Üzerine Notlar

Author(s): H. Fatih Yakut / Language(s): Turkish Publication Year: 0

Kadro Dergisi 1932 Ocak ayında “Siyasi ve entelektüel” türde yayın olarak hayata başlamıştır. Derginin yayınlandığı 1932- 1934 yılları arasında, yönetim anlayışının düşünsel dünyasında, bir tarafta batı dünyasında, 1929 ekonomik krizi ile tartışılan serbest piyasa düşüncesi, diğer taraftan ise Marksist diyalektik anlayışta, “maddi dünyanın bilinçli şekillendirilmesi ile insan davranışlarının kendiliğinden şekilleneceği” düşüncesinin olduğu bir dönemdir. Dönemdeki bir başka gelişme ise ikinci dünya savaşına giden süreç içinde, yerel ve radikal bir akım olarak Nasyonal Sosyalizm’in yükselme döneminde olmasıdır.

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THE LINK BETWEEN ECONOMIC AND POLITICAL INTEGRATION IN EUROPE

Author(s): GILLES GRIN / Language(s): English Publication Year: 0

This contribution analyses the link between economic and political integration in Europe from a historical perspective. The aim is to shed light on the dynamics behind the various phases of European integration, which – it bears clarifying from the start – is first and foremost a political project. In the first part of the paper, I will look at the context in which the European Communities were created after the Second World War. I will then present Jean Monnet’s vision and analysis of Europe, before expanding the scope to include some competing visions. This will be followed by an explanation of the shift in European integration in the 1990s. I will conclude with a look at the latest integration-related issues and the prospects for the future.

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ИСТОРИЧЕСКИ АСПЕКТИ И АКТУАЛНОСТ НА ОБУЧЕНИЕТО В СПЕЦИАЛНОСТ „СТОКОЗНАНИЕ“ В ИКОНОМИЧЕСКИ УНИВЕРСИТЕТ - ВАРНА

Author(s): Dana Stefanova,Denka Zlateva / Language(s): Bulgarian Publication Year: 0

This study presents brief historical data on the establishment and development of the „Commodity Science“ program at the University of Economics - Varna. The actuality of the training in the field of commodity science, both in Bulgaria and in other European countries, has been revealed. Bachelor programs in lots of European universities were studied and it was found that there are many educational programs close to „Commodity Science“. While "Commodity Science" program at University of Economics – Varna prepares students both in the field of foodstuffs and industrial goods, in the majority of foreign universities training in the field of foodstuffs is more prevalent.

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4.90 €

Privredni i socijalni razlozi propasti Države Slovenaca, Hrvata i Srba

Author(s): Mira Kolar / Language(s): Croatian Publication Year: 0

This work clarifies the circumstances in Croatia and Slavonia in the autumn of 1918, that is, at the time of the activity of the National Council of Slovenes, Croats, and Serbs. The unification of the State of Slovenes, Croats, and Serbs was not only desired but demanded by the bourgeois ranks of society in order to preserve their social position and property. In Croatia, such a climate of hopelessness existed that it seemed to the bourgeoisie that acceptance of the internationally recognized and victorious Kingdom of Serbia was the only solution which could erase the stigma of alliance with the defeated forces of the First World War. The fall of 1918 was a time of upheaval and there was no force in Croatia which could have a calming effect on the anarchic conditions, because the old government had collapsed and the new one had yet to establish itself. The reasons for this were many, from discord among politicians, to the lack of financial resources, to the destruction of property and the appearance of looting in many areas. Without conditions, Croatia entered the embrace of Serbia, sacrificing in this process its most capable politicians and qualified specialists who were not in agreement with developments. Following the unification of 1 December 1918, hungry, poverty-stricken and war-deprived Croatia offered rather weak resistance to the hegemonic attitude of the Great Serbian nationalists in the Kingdom of Serbs, Croats, and Slovenes, or, as better known by its later name, the Kingdom of Yugoslavia.

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15.00 €

CROATIAN ECONOMY IN THE 19TH CENTURY

Author(s): Milan Vrbanus / Language(s): English Publication Year: 0

During the 19th century, Croatia was an agrarian country with a predominantly agricultural population, which in Banal Croatia made up more than three quarters of the total number of inhabitants at the turn of the 20th century, with a gradual increase in craftsmen and other occupations. The situation was similar in Istria and Dalmatia. The preconditions for the development of agriculture in Banal Croatia were quite poor in the 19th century. Although arable land accounted for more than half of all land suitable for cultivation, it was unevenly distributed, so most of it was in Slavonia, and the least in Lika and Gorski Kotar. In all these areas, there were good preconditions for forest exploitation and development of wood industry. Agriculture was especially weak in Istria and Dalmatia, where there was a noticeable lack of arable land, which was also of poorer quality, affected by frequent and prolonged droughts.

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8.00 €

Fortified Towns of the Babonić Counts in Central and Lower Pounje as Non-Agrarian Settlements (13th-14th Centuries)

Author(s): Hrvoje Kekez / Language(s): English Publication Year: 0

From the ancient times, the Una valley (along with that of River Vrbas) was an important traffic and communication route connecting Pannonia and the eastern Adriatic, and it maintained this crucial function throughout the Middle Ages. This favourable geostrategic position led to the foundation of settlements in the Una valley during the medieval period, including the towns of Dubica, Kostajnica, Vodičevo, Zrin, Otoka, Krupa, Ostrožac, and Bihać, which were built at a distance of around 30 kilometres on the average, which was a day of journey for the merchants’ caravans.

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8.00 €

Nobility of the Croatian Kingdom between Zadar and Its Hinterland during the Late 14th and Early 15th Centuries

Author(s): Ivan Majnarić / Language(s): English Publication Year: 0

In the second half of the 14th century, Zadar became the centre of the Kingdoms of Dalmatia and Croatia. Then, and especially during the first half of the 15th century, it may be best described as a blooming town. The main reason for this situation was a combination of political, social, and economic circumstances, and the market of possibilities was equally open to peasants, craftsmen, merchants, educated administration, and the nobility. The city required personal presence and offered challenges in search for a better future or in establishing or improving one’s reputation. All these opportunities, and especially the last one, played a role in attracting the Croatian nobility, which will be the focus of this article.

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8.00 €

Property and Ownership in Dubrovnik's Confraternity of St Anthony in the Late Medieval and Early Modern Ages

Author(s): Zrinka Pešorda Vardić / Language(s): English Publication Year: 0

Throughout the centuries of its history, Dubrovnik’s confraternity of St Anthony was one of its most important institutions besides the official authorities and the Church. Established in 1432 by merging two earlier confraternities, that of the Holy Spirit and the Holy Saviour (founded in 1348) and that of St Anthony the First Ab-bot and St Peter (founded probably in 1363), it soon became the most distinguished confraternity in the city. It showed some typical features of a confraternity – focus on the spiritual needs of the brethren, care for the needs of its sick and dying members, offering the feeling of belonging to a community, the possibility of engaging in lay spirituality, and hope in eternal salvation. In the spirit of Christ’s words “Whatever you did for one of the least of these brothers and sisters of mine, you did for me,” con-fraternities were known for their charity work, which was not limited exclusively to its members, but also included the broader community and all people in need, which distinguished them from the exclusively professional guilds, who cared mostly for their own.

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8.00 €

Women and Property in Medieval Slavonian Towns

Author(s): Marija Karbić / Language(s): English Publication Year: 0

This article focuses on the position of women in medieval Slavonian towns regarding their right to possessing real estate and disposing with their immovable property. Even though there were many towns in the territory of medieval Slavonia or present-day north-western Croatia, be it free royal towns, which were directly subjected to the crown, or marketplaces, which formed a part of noble estates and enjoyed only limited autonomy, my research primarily focuses on Zagreb’s Gradec and Varaždin, mostly because their sources have been best preserved.

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4.90 €

Šume kao izvor prehrane. Uzgoj i trgovina kestenom u Požeštini u 16. i 17. stoljeću

Author(s): Anđelko Vlašić / Language(s): Croatian Publication Year: 0

In the second half of the 16th century, when the Požega area was under Ottoman rule, Hadži Mehmed-aga, a local strongman, was the owner of huge chestnut forests, exporting the nuts to adjacent Ottoman provinces. Numerous chestnut forests could be found throughout the Požega area as well as in the area around Orahovica, hence it is possible that other Ottoman lords cultivated and traded in chestnuts or merely sold them to Hadži Mehmed-aga. Požega was, during the Ottoman rule, a developed trading centre of the Sanjak of Pojega with a rich social life in which the Požega confectioners played a central role. Since the provincial centres such as Požega took the social life of the Ottoman centre as a role model, it can be assumed that the Požega populace also consumed chestnuts and used them in the preparation of their food, the confectioners and their products playing a major role. It is unknown whether this situation from the 16th century continued into the 17th century. It might be possible that the descendants of Hadži Mehmed-aga and other entrepreneurs of the Požega area and the Orahovica area continued to cultivate and export chestnuts; however no records have yet been found. It is likely that the cultivation of chestnuts during the 17th century declined due to the cold during the Little Ice Age. On the other hand, the increasing cultivation of crop plants such as potatoes and corn might have decreased the importance of chestnuts in the nutrition of the Požega area populace. In any event, in conclusion, the Ottoman Požega area of the 16th century, and probably at a later date, was characterized by a lively environment and an abundant everyday life where entrepreneurial-minded individuals knew how to utilize forest potentials, the potentials of chestnuts in particular.

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Hospodářský rozměr české zahraniční politiky: Hledání optimálního modelu ekonomické diplomacie pokračuje

Author(s): Jan Hrích / Language(s): Czech Publication Year: 0

Na rok 2008 bude z hlediska globálního ekonomického vývoje v budoucnu pravděpodobně pohlíženo jako na celek sesazený dohromady ze dvou značně odlišných částí, přičemž předěl tvoří – velmi zhruba – rozhraní mezi třetím a čtvrtým kvartálem. Zatímco až do přelomu léta a podzimu převládaly ještě optimistické tóny, byť „vzdálené hřmění“ a rovněž varovná slova některých prozíravějších pozorovatelů se již někdy ozývala, prudké vzplanutí americké finanční krize na počátku podzimu a její rychlá ozvěna v Evropě i v dalších částech světa velmi prudce srazily důvěru v ekonomiky a jejich další vývoj a jako velmi reálnou perspektivu pro období nejméně příštího roku či dvou let před světovou ekonomiku vytyčily stagnaci či dokonce krizi.

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The Economic Dimension of the Czech Foreign Policy

Author(s): Štěpánka Zemanová,Jana Peterková / Language(s): English Publication Year: 0

The external economic relations of a state may be understood in two different ways – as a part of foreign policy or as an integral part of domestic economic policy. In the following text we focus on the first aspect – the economic dimension of the Czech foreign policy from 2007 till 2009. There is no doubt that this dimension of foreign policy or of external economic relations encouragement, sometimes also called economic diplomacy, plays an important role in the field of the external relations of the Czech Republic. Looking back at the last three years, we cannot say that there was any revolution in understanding, explanations or even administration performance in this area. But we can say that there was an important evolution in understanding what economic diplomacy is, which actors are involved in it and how important this area is for the whole state.

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Hospodářský rozměr české zahraniční politiky

Author(s): Štěpánka Zemanová / Language(s): Czech Publication Year: 0

Podpora vnějších ekonomických vztahů (VEV) donedávna patřila k turbulentním oblastem české zahraniční politiky, a to zejména v důsledku kompetenčních sporů mezi ministerstvem zahraničních věcí (MZV) a ministerstvem průmyslu a obchodu (MPO). Druhá polovina roku 2013 však do této agendy přinesla určité uklidnění. Přispěla k němu především koncepční ukotvenost – základní strategický rámec vznikl již v letech 2011–2012 a stěžejním úkolem se nyní stala jeho implementace. Pozitivní úlohu paradoxně sehrál i pád Nečasovy vlády. Rychlé ukončení tahanic mezi klíčovými mi-nisterstvy se za výrazné podpory prezidenta Zemana zařadilo mezi priority Rusnokova kabinetu a brzy vyústilo v uzavření Ujednání o společném zastupování ČR v zahraničí.

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Kapitalismus, industrializace a sociální otázka

Author(s): Lukáš Fasora / Language(s): Czech Publication Year: 0

Vysvětlit problematiku industrializace jako projev závažné hospodářské a společenské změny z pohledu aktérů; postavit studenty před otázky po strategiích, které volí konkrétní člověk tváří v tvář nastávající velké technologické, hospodářské a společenské změně, jakou roli hraje jeho racionální uvažování. Součástí rozvahy je debata o vítězích a poražených procesu industrializace, tzv. sociální otázka. Téma je aktuální v souvislosti s právě probíhajícími změnami profilu české a evropské ekonomiky a s tím souvisejícími změnami na pracovním trhu.

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