Ekonomika
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ECONOMIC INEQUALITY: A SURVEY OF RECENT LITERATURE
Get PDFAbstract. The purpose of this paper is to review the recent literature on economic inequality. In particular, the developments in the fields of economic growth, financial crises, happiness and skill (capital) biased technological progress are surveyed. By using the methods of systematic and narrative literature review and conducting meta-synthesis of the recent studies, it is shows that conventional wisdom is contested in all of the mentioned fields. The rising economic inequality is linked to financial crises as well as the slower and shorter economic growth. The Easterlin paradox is losing support. Skill-biased technological progress is possibly evolved into a capital-biased one.Key words: economic inequality, financial crises, skill-biased productivity, capital-biased productivity, the Easterlin parado
THE IMPACT OF POPULATION IMMIGRATION ON THE LABOUR MARKET OF THE UNITED KINGDOM
Get PDFAbstract. The impact of immigration on the labour market has become a very important subject of public and political debates in recent years. The aim of this study was to estimate the impact of immigration on the labour market of the United Kingdom in 1991–2010. Using a system of equations for immigration, unemployment, wage and gross domestic product, the structural vector error correction model and linear regression models were developed. The application of the structural vector error correction model has shown that immigration has a negative impact on the country’s labour market in the short run as it reduces real wages and increases unemployment. The linear regression models have indicated that immigration, ceteris paribus, negatively influencesunemployment and real wages in the long run.Key words: immigration, labour market, impact, short run, long ru
EVALUATION OF THE EFFICIENCY OF ECONOMIC POLICY UNDER THE EUROPE-2020 STRATEGY IN SMALL EUROPEAN UNION COUNTRIES
Get PDFAbstract. The evaluation criteria to measure the efficiency of a state’s economic policy in terms of integration processes in the European Union were determined in the Europe 2020 Strategy endorsed by the European Council in June 2010. According to the Strategy, the European Union has committed to seek progress in the fields of employment, investment in R&D, climate change and energy, education, and poverty reduction. With a view to assessing the economic impact of the above commitments by the European Union vis-a-vis small European Union countries, this article provides an evaluation of the three objectives of the Europe 2020 Strategy – employment, education, and investment in R&D – and their impact on the economic growth in smaller countries of the European Union.This article concludes that many of the smaller European Union countries choose not to be ambitious enough in their national objectives of employment, education, and investment in R&D areas under the Europe 2020 Strategy and, during the 2011–2020 period, they show on average a 4.8% lower annual GDP growth than it could potentially be, i.e. they abandon far-reaching ambitious targets.Key words: economic policy, small European Union countries, Europe 2020 Strategy, employment, education, R&
HUMAN CAPITAL OF POLISH NON-GOVERNMENTAL ORGANISATIONS: FROM MACROECONOMIC CONTEXT TO MICROECONOMIC IMPLICATIONS
Get PDFAbstract. The paper1 aims at emphasizing the importance of a proper recognition and disclosure of human capital in non-governmental organizations (NGOs) on the example of Poland. Although NGOs do significantly contribute to social well-being, the economic focus paid to commercial businesses and public institutions causes that a scope of civil initiatives is not recognised to a sufficient extent. It is, therefore, a role of the Third Sector to promote its activities and to inform extensively on the effects generated. The issue which requires particular attention in this respect is the human capital which propels all benevolent activities.The author analyses, firstly, the historic, economic, and legal circumstances that shaped the modern Third Sector in Poland. Subsequently, an analysis of human resources available to Polish NGOs in comparison to the situation of their German and British counterparts is conducted. The results of a study on the attractiveness of the non-governmental sector as an employer are discussed next. The paper is concluded with a presentation of methods which enable to quantify and valuate human capital in a non-commercial environment, including the ratios used to monitor the development of that capital.The results presented in the paper clearly demonstrate that it was possible due to involvement of socially sensitive people to rebuild social activities in Poland after the long period of the state’s exclusivity in defining and addressing social issues. Those people made the initial human resources of Polish NGOs as their members, governors or volunteers. Nonetheless, the development of a comprehensive legal framework stimulating co-operation between the state and NGOs, and an extensive use of European funds helped to extend the labour force of the sector by 120 000 employees. A priority for now proves to be sustaining that growth by attracting young people. The results of the author’s study on the perception of the Third Sector by students show that most of them still know NGOs from mass media only, and one third of them would not consider working for an NGO in future. On the other hand, opinions of those who already work in a non-commercial environment prove to be positive, what entitles to formulate the conclusion that a better knowledge of the ways NGOs work is vital to build their human capital. If social managers develop proper systems of measuring and reporting human capital, such as the one presented in the paper, they will gain a tool to demonstrate that human capital of their organisations is used to make social initiatives as effective and efficient as possible.Key words: non-governmental organisation (NGO), the Third Sector, human resources, human capita
SOCIAL POLICY CHANGES IN THE THREE BALTIC STATES OVER THE LAST DECADE (2000–2012)
Get PDFAbstract. This paper deals with changes in social policy (social security and health care) in the three Baltic states over the last decade. It seeks to elucidate the emerging differences among the three Baltic states in their social policy arrangements. The study employs inductive methods for the analysis of social security institutions, pursuing a comparative institutional analysis by means of macro level descriptive statistics. The paper demonstrates that in the period 2008–2012, the differences among the three countries in social policy arrangements have exacerbated. Estonia has handled the global financial crisis much better and managed to keep more solidarity and universalism in so cial policy as well as higher benefit levels as compared with Latvia and Lithuania.Key words: social security, health care, Baltic states, welfare state, difference
DYNAMIC AND STATIC NETWORKING: MAIN IDEAS AND NATURE, SPECIFICS IN A COUNTRY WITH EMERGING MARKET
Get PDFAbstract. The objective of the article is to systematize the dynamic and especially static entrepreneurial networks as they look, appear, and act in a country with so-called emerging markets. This is accomplished on the example of Russia. Special attention is paid to relevant business goals and patterns to typical members of such networks, to why, when and how one passes from outsourcing in dynamic networks to static networking.The article contains a field research based on (1) access to public databases like Spark-Interfax in Russia, with updated information on registered firms (their founders, affiliated companies, businesses) and (2) interviews with businessmen who agreed to comment on the problems under discussion.As regards the results of the research, two points seem to be especially important. First, when, according to legislation, information on registered firms and their statistical reports is public, it is not too problematic to find out and monitor the activities of practically all types of business static networks in all industries. Second, when the business environment becomes more competitive, dynamic networks tend to be transformed into static ones not only due to considerable contract risks, but also because one needs to select from wider samples of possible suppliers the most competitive and those who are ready to invest into the technological innovations.The general conclusion is that in countries with a dynamic economic growth and increasing competitiveness of the business environment, like in Russia, this advantage of static networking might prevail, especially if static networks appear as a result of selecting business partners from the firm’s experience in outsourcing.Key words: static and dynamic networks, outsourcing, information networking, affiliated companiesp
AN ECONOMIC APPROACH TO CORRUPTION TYPES
No full textAbstract. The objective of the article is to review specific criteria for the classification of corruption in the context of economic relations, to discuss its types and subtypes, and to reveal the peculiarities of transnational corruption in modern conditions. The classification of corruption highlights the significance of systemic approach, as well as emphasizes that corrupt relations can be studied both as a separate system and a subsystem. The article reveals the purpose of a corruption classification, correlation between corruption types and forms, and the main indicators for the classification of their qualitative and quantitative traits. It discusses the impact of most significant economic processes on different types of corrupt relations. Transnational corruption is analysed as a globalization stimulating, competition limiting factor. By emphasizing the danger of corruption, corruption concealment options in transnational transactions under the guise of public interest are discussed.Key words: corruption, corrupt transactions, demand-induced corruption, supply-induced corruption, transnational corruptio
FORMATION OF INVESTMENT STRATEGY IN FINANCIAL INDUSTRIAL GROUPS USING SYSTEM ANALYSIS
No full textAbstract. In the article, the author investigates the definition of the investment strategy that will bring the maximum effect, which is the main objective of target coordination. The proposed model takes into accountthe factors of investment projects that are particularly important for financial and industrial groups, for evaluating investment projects and the impact of individual elements on other units.Key words: investment projects, economic efficiency, economic and mathematical models, comparison criteria, portfolio investment
BARRIERS TO EXPORT FROM INDIA TO THE EUROPEAN UNION
Get PDFIndia is an important trade partner for the European Union. The European Union’s export to India is higher relative to India’s export to the European Union. An analysis of barriers is needed for international trade as it may assist in finding out why exporters are not able to exploit their full potential. The main goal of this research is to analyze the barriers faced by Indian exporters during export to the European Union. This research was done by an empirical investigation of barriers’ perception by Indian exporters. A literature review was also done to enlist the barriers faced by exporters. Analysis of data was done with the help of SPSS (Version 20) software.While previous researches talk about the most common barriers, this research talks about all the possible ones, i.e. common as well as naturally existing, and finds the major ones. This research has shown that exporters have a significant feeling for governmental regulations, customs procedure and licensing, technical standards and health regulations, sanitary and phytosanitary measures, and certification as the major barriers to export. There are some naturally existing barriers to the trade among which labeling and packaging, and market access problems are the major barriers to export.Decreasing the strength of these barriers will lead to an increase in export as exporters are ready to export more from India to the European Union if these barriers will be removed or the strength of these barriers will be less. Also, due to the low barriers, non-exporters will start export, and the increase in export will lead to the economic growth of India
THE ECONOMETRIC MODELING OF UKRAINIAN MACROECONOMIC TENDENCIES
Get PDFEconometric models are widely used in economic policies of many states. They help to build a great variety of econometric systems for every country and take into account the specifics of each economy.In this article, the structural macroeconomic models that describe the main aspects of the economic policy were applied. The interdependence between the level of inflation, the value of investment, savings, consumption, export and import transactions, taxes on the foreign trade were defined based on the analysis of the key macroeconomic parameters of Ukraine. After investigating all economic indicators, they were transformed into stationary time series for a correct use in the model. In addition, heteroscedasticity and autocorrelation of residuals were excluded in all econometric equations.As a result, the research shows that a large share of black economy leads to a rather high level of inflation in the state, because its value is primarily determined by expectations of the population under such circumstances. The paper indicates that the further export growth leads to a lower consumption growth and also to a lower growth of savings. Such a situation indicates an insufficient development of the domestic market. Investment growth has been fund not to be directly linked to consumption increase and economic development in general. Unfortunately, the main sources of investment in Ukraine are the funds of enterprises and foreign sources. The analysis shows a need to encourage public involvement into investment processes. For example, the creation of public–private partnerships is especially useful while implementing infrastructural projects