Vilnius University Press Scholarly Journals
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Pilnamečio veiksnaus asmens rūpyba Lietuvoje: ar nacionalinė teisė atitinka tarptautinius Lietuvos įsipareigojimus?
No full textThe article deals with Article 509 of the Code of Civil Procedure of the Republic of Lithuania on guardianship of a person with capacity. Article 509 of the CPC is compared with the possible alternatives to the limitation of legal capacity currently available in the Lithuanian legal system. The guardianship of a person with legal capacity is examined in the context of the United Nations Convention on the Rights of Persons with Disabilities. Article 509 of the CPC is compared with other possible alternatives to the limitation of legal capacity. A brief overview of the types of limitation of legal capacity in Lithuania is given with the current legal regulation of incapacity in the German Federation.Straipsnyje nagrinėjamas Lietuvos Respublikos civilinio proceso kodekso 509 straipsnis, reglamentuojantis veiksnaus asmens rūpybą. CPK 509 straipsnis lyginamas su šiuo metu Lietuvos teisinėje sistemoje esančiomis veiksnumo ribojimo galimomis alternatyvomis. Veiksnaus asmens rūpyba nagrinėjama Jungtinių Tautų neįgaliųjų teisių konvencijos kontekste. CPK 509 straipsnis lyginamas su kitomis galimomis veiksnumo ribojimo alternatyvomis. Trumpai apžvelgiamos Lietuvos veiksnumo ribojimo rūšys su šiuo metu Vokietijos Federacijoje galiojančiu neveiksnumo teisiniu reguliavimu
Europos Sąjungos kriptoturto rinkų reglamento ir Jungtinių Amerikos Valstijų vykdymo užtikrinimu grindžiamo požiūrio į kriptoturto reguliavimą palyginimas
No full textThe rapidly evolving industry of crypto-assets presents significant regulatory challenges, which are further complicated by differing approaches in the European Union (EU) and the United States (US). This article compares these frameworks, while focusing on the EU’s Markets in Crypto-Assets (MiCAR) and the US’s Regulation by Enforcement strategies.The EU takes a proactive approach through its MiCA regulation, set to take effect on December 30, 2024. This regulation aims to harmonize the EU’s regulatory framework for crypto-assets and crypto-asset service providers (CASPs), by virtue of offering legal clarity and creating a stable environment for digital assets, and thus ensuring consumer protection similar to the traditional financial sector.Conversely, the US adopts a reactive stance, by applying the already existing legal rules to crypto-assets under the principle of technological neutrality. This ‘regulation by enforcement’ approach relies on established legal principles and regulatory discretion, while raising challenges related to legal predictability, supervisory powers, and the adaptation of the traditional laws to new technologies.The comparative analysis conducted in this article explores practical regulatory challenges and broader implications for consumer protection, market stability, legal predictability and innovation incentives. By examining these elements, it contributes to the discourse among scholars and young researchers in the field of legal innovation.Sparčiai besiplėtojant kriptoturto sektoriui susiduriama su jo reguliavimo iššūkiais, kuriuos spręsti apsunkina skirtingas požiūris į kriptoturto reguliavimą Europos Sąjungoje (ES) ir Jungtinėse Amerikos Valstijose (JAV). Šiame straipsnyje lyginamos šios dvi teisinės sistemos, daugiausia dėmesio skiriama ES kriptoturto rinkų reglamentui (angl. Markets in Crypto-Assets, MiCAR) ir JAV naudojamai „reguliavimo per vykdymo užtikrinimą“ strategijai.ES laikosi aktyvaus požiūrio, taikydama MiCA reglamentą, kuris įsigaliojo 2024 m. gruodžio 30 dieną. Šiuo reglamentu siekiama harmonizuoti ES kriptoturto ir kriptoturto paslaugų teikėjų (angl. crypto-asset service providers, CASP) reguliavimo taisykles, suteikti daugiau teisinio aiškumo ir sukurti stabilią aplinką skaitmeniniam turtui, taip pat užtikrinti vartotojų teisių apsaugą, panašią į teikiamą tradicinio finansų sektoriaus.JAV, priešingai, laikosi reaktyvios pozicijos, taikydamos esamas teisines taisykles kriptoturtui ir vadovaudamosi technologinio neutralumo principu. Toks vykdymo užtikrinimu grindžiamas požiūris į kriptoturto reguliavimą remiasi nusistovėjusiais teisiniais principais ir priežiūros institucijų diskrecija. Todėl kyla sunkumų dėl teisinio tikrumo, priežiūros institucijų įgaliojimų ir tradicinių teisės aktų pritaikymo naujoms technologijoms.Šiame straipsnyje remiantis pateikiama dviejų požiūrių lyginamąja analize nagrinėjami praktiniai reguliavimo iššūkiai ir vertinamos platesnės implikacijos vartotojų teisių apsaugai, rinkos stabilumui, teisiniam tikrumui ir paskatoms inovuoti. Nagrinėjant šiuos elementus, straipsnyje siekiama prisidėti prie mokslininkų ir jaunųjų tyrėjų diskusijų, susijusių su teisės inovacijų sritimi
The Effect of Foreign Direct Investment, Domestic Investment, and Trade on Economic Growth: Evidence from the Baltic Countries
No full textThis study investigates the impact of foreign direct investment (FDI), domestic investment, and trade on economic growth in the Baltic countries (Estonia, Latvia, and Lithuania). Using annual time-series data from the World Bank for the period 1995–2022, the analysis employs the Pooled Mean Group Autoregressive Distributed Lag (PMG-ARDL) approach. To ensure robustness, the study also applies the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) methods. The findings reveal that FDI negatively impacts economic growth in the long term, although it has a positive effect in the short term. In contrast, gross fixed capital formation (used as a proxy for domestic investment) positively influences economic growth over the long term but has no significant short-term effect. Domestic savings are found to contribute positively to long-term economic growth, while having a negative impact in the short term. Exports exhibit a negative long-term effect on economic growth, despite their positive short-term impact. The robustness checks using FMOLS and DOLS largely confirm the results obtained from the PMG-ARDL model. Additionally, the causality analysis reveals a unidirectional relationship between economic growth, domestic savings, and FDI. These findings emphasize the importance of considering both the short-term and long-term effects of FDI on economic growth. Policymakers in the Baltic countries are advised to adopt strategic investment policies that balance the benefits and challenges of FDI to address its long-term impacts. The practical implications include the need for targeted policies to promote sustainable economic growth by addressing the dynamic interactions between FDI, domestic investment, and trade
Does the Impact of Education Expenditures on Economic Growth Vary Between Developed and Developing Countries?
No full textEconomic growth has been a fundamental policy objective for countries throughout history. It signifies an enhancement in a country’s well-being and income levels. Education also plays a significant role in economic development and welfare improvement. This study aims to empirically examine and compare the impact of education expenditure on economic growth in developed and developing countries. The research employs a panel Autoregressive Distributed Lag method to analyze the influence of education expenditures on national income in 20 developing and 27 developed countries over the period 2000–2020. The findings indicate that variations in education expenditure positively affect national income in both developed and developing countries, with a more pronounced impact observed in developed countries. Based on these results, it is inferred that the prioritization of education expenditures in economic policies is crucial for fostering economic growth
Decline of Interest Rates under Inflation Targeting and Previous Regimes: Evidence from Latin America and Developed Countries
No full textThis study empirically investigates the impact of Inflation Targeting (IT) on nominal interest rates over the past 40 years, focusing on 10 advanced and emerging economies. By using a Binary Regime Model embedded within a Backward-Looking Taylor, our findings confirm that IT adoption has significantly contributed to reducing interest rates, with the strongest effects observed in Latin American countries. To reinforce these results, we incorporate Smooth Transition Regression (STR) models, with and without instrumental variables, allowing for a more suitable representation of gradual policy transitions. The STR estimates consistently support our main findings, validating the robustness of the observed impacts. Furthermore, we show that, both before and after IT implementation, central banks display a stronger emphasis on responding to inflation than to the output gap, with this focus intensifying under IT regimes
Dynamic Equal Co-movements Measurement for Volatility of Returns in Financial Markets: Evidence from the US, China, and Some Arab Countries Using the DECO-GARCH Model
No full textThe research aims to use the Dynamic Equality Condition Correlation (DECO-GARCH) model to test the general movements and conditional relationships regarding the return on investment in a financial market. This is distinguished from other models, particularly from the DCC model, as it is based on calculating the pairwise correlations of assets (joint return volatilities) at one time for all assets, while relying on the history of those assets. This study focused on the returns of US stock market indices, the Chinese stock market index, and financial markets in some Middle Eastern countries, (S&P 500, DJI, NASDAQ Composite, Shanghai Composite, Saudi General, Dubai General, Bahrain General, Amman General, Iraq Stock Exchange). We conduct this research on the grounds of understanding the impact of financial crises on asset returns in these markets, the interconnections that govern them, and the extent to which investors can hedge their investments in these markets. The results have revealed significant and varying correlations between these indices, with increased equal relationships observed in 2015–2016 and 2020–2021, which corresponding to the dates of the European debt crisis, the collapse of the Chinese stock market, and the COVID-19 pandemic. Overall, there was noticeable fluctuation in the conditional dynamic equality among the studied indices during the study period, thus supporting the hypothesis of contagion effects and emphasizing the importance of considering the evolving nature of relationships between these indices when making asset allocation decisions
Emocijos televizijos naujienose: žurnalistų vaidmuo ir iššūkiai po-tiesos (išeitos tiesos) amžiaus medijų lauke
No full textIn the current environment of information disruptions and rising social media popularity, the abundance of information enables a shift of attention to news presentation and sparking viewer interest. The selection of news is associated with their presentation, whereas emphasis is placed on such news that is ‘in high demand. Journalists play a key role in this, as seemingly more and more journalists are aiming to stand out by means of emotional reconstruction of the news. By selecting and giving priority to certain news, journalists decide which information is real and relevant. Therefore, in the most general sense, they are constantly evaluating news. In today’s post-truth era, public opinion is more influenced by emotional appeals than by objective facts. Therefore, it is importance to understand how journalists themselves define the roles they create in the news production process. Ultimately, this will help to understand the challenges that the emotional content they produce poses in the context of striving for a resilient democratic society, especially considering the various forms of disinformation and the public space polarization.Socialinių medijų populiarėjimo, „informacinių trikdžių“ kupinoje komunikacinėje aplinkoje informacijos gausa įgalina daug dėmesio skirti naujienų pateikimui ir siekiui sudominti auditoriją. Naujienų atranka siejama su jos pateikimu, skiriamas ypatingas reikšmingumas tam, kokios naujienos yra paklausios. Šioje vietoje pabrėžiamas žurnalistų vaidmuo ir vis labiau pastebimas noras išsiskirti, kuris pasireiškia tik ypatingai emociškai paveikiai konstruojant, perkonstruojant žinias. Atrinkdami naujienas, suteikdami joms prioritetą, žurnalistai sprendžia, kas informacijoje yra tikra, kas aktualu, todėl bendriausia prasme jie nuolat atlieka vertinimą. Šiandien viešajai nuomonei didesnę įtaką daro apeliavimas į emocijas, o ne objektyvūs faktai (po-tiesos amžiaus), todėl svarbu suprasti, kaip patys žurnalistai apibrėžia savo kuriamus vaidmenis naujienų gamybos procese. Galiausiai tai padės suprasti, kokius iššūkius emocionalus jų konstruojamas turinys kelia atsparios demokratinės visuomenės siekiamybės kontekste, ypač atsižvelgiant į šiandien daug diskusijų keliančias įvairias dezinformacijos formas ir viešosios erdvės poliarizaciją