Ekonomika
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PRODUCTIVITY OF UNIVERSITY HOSPITALS IN POLAND: A MALMQUIST-INDEX APPROACH
Get PDFThe purpose of this article is to present the result of productivity analysis of university hospitals in Poland. The hospital sector, and especially the tertiary hospital subsector, are a large consumer of scarce health care resources, and it is of particular relevance to use these scarce resources as effectively and efficiently as possible. This is why it is so important to measure the efficiency and productivity of a hospital to find out whether it is still possible to improve their performance. In this paper, an analysis of 40 tertiary hospitals (which are called university hospitals in Poland) for the period from 2000 to 2007 is presented. To measure hospital productivity, the Malmquist index was employed. The usage of the Malmquist index is based on the data envelopment analysis (DEA), a non-parametric method to estimate the frontier functions, and this is a reason why this method was also employed in this research. The data comprise the number of physicians and nurses employed in university hospitals, the number of beds and the total number of bed days. The results show that in general there has been a worsening of the productivity of these hospitals over this period, and it was caused by an inappropriate usage of inputs. The paper is organized as follows: a brief description of hospital systems in Poland and the concept of their efficiency and productivity are presented, and then the method and data are discussed. In the fourth section, the results are presented, followed by conclusions
STRUCTURED SECURITIES AND THEIR DEVELOPMENT IN LITHUANIA
Get PDFThe principal purpose of the article is to introduce structured securities, their particular features and advent into the Lithuanian financial market. The authors of the article address the premises and preconditions for the appearance of structured finance and structured securities, interpretations of related concepts and the global development trends.The system of structured securities is being designed on the basis of the principal methods of the composition of structured securities. The focus of the paper is on the group of financial instruments, including structured securities, currently designed and offered in the Lithuanian market.The article presents an analysis of the Lithuanian market in structured securities comparing it to traditional savingand investment instruments, issue volumes including the best and worst samples in terms of return rates, risks inherent to secondary securities markets and peculiarities of price calculation, also aspects of adaptation to market demands as well as the trends of its further development
THE MODEL OF TAX EVASION, ITS COHERENCE TO THE PRACTICAL TAX ADMINISTRATION
No full textIn this paper, a theoretical model of tax evasion, proposed by Allingham and Sandmo, is briefly presented. This model tries to explain the taxpayer’s decision to reveal only part of the taxable income and to evade taxes in this way. The main parameters of the model are personal income, the rates of tax and penalty, probability of the tax audit. By the method of comparative statics it is possible, at least partially, to evaluate the influence of changes of the model’s parameters on a person’s decision to evade tax.As some of the assumptions of the Allingam–Sandmo model differ from taxation rules in practice or the model’s conclusions do not match the actual taxpayers’ behaviour, in this paper some criticism and improvements of the proposed model are reviewed. A comparison of the model’s assumptions and actual aspects of the tax administration in Lithuania is also provided.This article contains also a model of tax evasion with regard for the peculiarities of tax administration in Lithuania and the possible corrections of tax audit probability function
EVALUATION OF PROBLEMS AND POSSIBILITIES OF INDUSTRIAL FISH UTILISATION FOR HUMAN CONSUPTION
Get PDFFish caught by Lithuanian Baltic Sea fishermen is used for industrial purposes to a relatively large proportion – 60–80 percent of the total volume versus 25–30 percent on the global level. There is no fully developed fishmeal industry in Lithuania, so industrial fish species are disposed of at foreign markets. The first sale prices for fish used for human consumption are higher. It is considered that saling sprats and herrings for human consumption would increase fishermen’s income, create an additional profit and value added. The purpose of the study was to determine the economic reasons why a large portion of Lithuanian landings of Baltic Sea pelagic fish species are used for industrial purposes. The study has shown that the main reasons are unstable, seasonal supply of sorted and good quality raw material and the lack of production sales markets. The authors have investigated the problem and proposed possibilities to increase the use of industrial fish for human consumption in Lithuania
APPLICATION OF TRADABLE DISCHARGE CREDITS TO WASTEWARTER MANAGEMENT: A FEASIBILITY STUDY
Get PDFThe paper presents results of a field study on the feasibility of applying tradable discharge credits approach to wastewater management. The hypothesis that formed the basis of the present study is that conversion of the existing municipal wastewater discharge management system in Lithuania into the one that uses tradable discharge credits can bring both private and overall (social) economic benefits in the form of increased flexibility of the sewerage subscribers to select the most cost-effective means of compliance with the discharge limits. Research has been conducted in order to determine whether the tradable discharge credits can be employed for municipal wastewater management and, if so, how it can be done. The presented framework of wastewater management, based on tradable discharge credits, can serve as a blueprint for similar applications in other countries or regions, as well as a basis for policy steps
TESTING THE HOMOGENEOUS INTEREST RATES ASSUMPTION BY PRINCIPAL COMPONENT ANALYSIS: THE EURO AREA CASE
Get PDFAlthough there are many different interest rates in the economy, in theoretical and applied model building these distinctions are usually ignored by assuming that there is only one, “true” interest rate. Hence, the aim of this article is twofold. First, we empirically examine whether such assumption is plausible for the Euro area yield curve data. Second, using different time spans we try to assess the impact of the financial crisis on the validity of this assumption. For both purposes, the principal component analysis technique will be employed
STOCK MARKET DEVELOPMENT IN CEE COUNTRIES – THE PANEL DATA ANALYSIS
Get PDFSince financial system development is a necessary condition of the long-run economic growth, in this paper we address the question about the factors that may drive in particular the development of stock market segment. We propose a set of potential determinants and then empirically verify their importance, employing panel data methodology. We focus our attention on the thirteen CEE states and look for the conclusions that may be specific for transition economies in this region. Finally, we formulate the finding that large budget deficitshave affected significantly and adversely the CEE countries’ stock markets growth.p
THE EVALUATION OF THE INFLUENCE OF A POLITICAL FACTOR FOR ECONOMIC GROWTH IN UKRAINE
No full textThe article deals with the complex of economic-mathematical models applied for the investigation of the influence of some kinds of budget expenses on economic growth considering changes in the Ukrainian economic system over the last years. The main idea of the investigation is to analyze the effectiveness of budget expenditures under the political changes that took place in Ukraine in 2005–2009.p
STABILITY POLICY DURING ECONOMIC DOWNTURN: INSTITUTIONAL AND INTERVENTIONALISTIC ASPECTS
Get PDFThe issue of stable policy became extremely relevant during the recession. Stable policy encompasses recovery of the lost equilibrium, prevention of the undesirable situation and assurance of sustainable economic development. Two competitive decisions of stable policy – intervention and institutional – can be accentuated. Intervention strategy means supply stimulation and balance recovery through fiscal and monetary policy. Institutional stable policy stresses the prevention of unwanted situations through creating a resilient institutional economic structure and freeing the market self-regulation mechanism. The article compares both strategies, analyzes their consequences, influence on the development and depth of the crisis, and possibilities of the national adaptation mechanism
SOCIAL CONSEQUENCES OF ECONOMIC DOWNTURN (2008) IN LITHUANIA
Get PDFThe world economic recession has a significant adverse impact on social economic development in Lithuania. The article aims at assessing the possible long-term social consequences of the economic downturn in Lithuania if no actions are taken from the Government, as well as at designing recommendations on the implementation of measures with a view to mitigate the consequences of the recession.The article analyses various social economic indicators in Lithuania with the aim to highlight the impact of the recent economic downturn on different aspects of living standards in the country. The article seeks to provide evidence on the critical need to address social problems in Lithuania as well as to outline the next steps to be taken to mitigate the negative consequences of the economic downturn.The analysis has shown that in Lithuania, the major negative social consequences of the economic decline for the population manifest themselves in job losses and income decrease, which in turn result in the rising long-term unemployment, growing social exclusion, higher emigration and other negative consequences. With regard to this, long-term negative consequences of the economic recession could be mitigated by addressing two vital issues, namely job losses and a decrease in household income in Lithuania