The role of Central Europe in the German economy. The political consequences

Author(s): Konrad Popławski / Language(s): English / Publication Year: 2016

Recent publications allow us to conclude that the economic relations between Germany and Central Europe have come to the ‘end of history’, and nothing new will happen. However, a deeper analysis of these relationships reveals interesting new trends. Since joining the European Union the states of Central Europe have not settled for maintaining the average level of economic development, but have continued to narrow the distance between them and Western Europe, something which the global financial crisis did not prevent. Their improved economic situation also affected their relations with Germany. The latest results from the Visegrád Group states show them to be Germany’s most important trading partner, and their balance of trade in goods is in a state of equilibrium, while many euro area countries have recorded high trade deficits with Germany. The aim of this report is to display the trends in trade and investment between Germany and Central Europe, based on the example of the Visegrád Group. The author will also attempt to answer the question of whether the advancing economic cooperation between Germany and the V4 countries will lead to the further modernisation of those countries’ economies, or whether it will run the risk of leaving them in the ‘middle income trap’.

The Role of Commercial Bank in Financing Small Scale Industries

A Case Study of Assin Fosu and Suame

Author(s): Ruth Asantewaa Owusu / Language(s): English / Publication Year: 0

Bank finance has been found as an important source of funds for most firms in Ghana. The study assessed the impact of GCB SME LOAN on the activities of Small Scale Industries. The study used primary data which were designed and administered to SMEs customers of GCB and staff of GCB. A sample size of 170 made up of 20 staff of GCB bank and 150 owners of SME customers who deal with the bank and have benefited from the SME LOAN SUITE. The study concluded that with the use of GCB SME LOAN, there has been improvement in the profits of both the customers and bank. Also, the study identified four main challenges which were; increased in the amount of money, reduce interest rate, advertisement and extend the period of bridge loan that militate against the GCB SME LOAN of GCB bank. It was recommended that since GCB bank is contributing more to SMEs, they should give in their best to increase the amount of the loan and to extend the period of bridge loan to help boost their outreach.

THE ROLE OF CURRENCY TRANSACTION TAXES IN REDUCING FINANCIAL INSTABILITY

Author(s): Marko Dimitrijević / Language(s): English / Issue: 2/2015

The subject of analysis in this article is the legal and fiscal role of the currency transaction taxes in reducing the financial instability of the market. In that sense, they are considered most precious need for the introduction of these taxes, with particular attention to the tax forms, tax object, tax base, tax rate and tax incentives. Then, it discusses the requirements for the implementation of the currency transaction taxes, benefits and shortcomings in its implementation with making some concrete proposals for improving its economic efficiency in fiscal system.

The Role Of Ecowas Protocol For The Movement Of Persons, Goods And Services In Promoting Economic Growth On Africa’s Development

Author(s): Anadi Ngozi Obeta,Mohammed Hilal Adamu / Language(s): English / Issue: 15/2019

This paper examined the legal instrument for regulating Economic Community for West African States framework for building common economic market through inter-regional trade to boost economic activity for Africa’s growth and sustainable development by movement of persons, goods and services. The paper adopted doctrinal method by examining the ECOWAS protocol and other regulations made by member states in providing enabling environment for establishment of common market by trade liberalization or common external tariffs. The result of the study revealed that there was significant achievement in the movement of persons within the ECOWAS community using unified travel documents, however, the movement in goods and services aspects has not been fully implemented by the member states owing to myriad of challenges that ranges from harmonization or streamlining of Common External Tariffs (CET) by the member states.

The Role of Energy in a Real Business Cycle Model with an Endogenous Capital Utilization Rate in a Government Sector: Lessons from Bulgaria (1999–2016)

Author(s): Aleksandar Vasilev / Language(s): English / Issue: 52/2018

We introduce a pro-cyclical endogenous utilization rate of physical capital stock into a real business cycle model augmented with a government sector in detail. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999–2016). We investigate the quantitative importance of the endogenous depreciation rate and the capital utilization mechanism working through the use of energy for cyclical fluctuations in Bulgaria. In particular, a positive shock to energy prices in the model works like a negative technological shock. Allowing for variations in factor utilization and the presence of energy as a factor of production improves the model performance against data, and in addition this extended setup dominates the standard RBC model framework with constant depreciation and a fixed utilization rate of physical capital (e.g., Vasilev (2009)).

The role of enviromental taxes in Serbian tax system

Author(s): Miloš Stojanović,Marina Đorđević / Language(s): English / Issue: 4/2016

The aim of this paper is to point out the lack of giving importance to ecological taxes and the low participation of dedicated revenues in the structure of these taxes in the tax system of the Republic of Serbia. Environmental taxes have gained in importance, especially through the ecological tax reform in a number of European countries, which have proved to be significantly more effective compared to other available instruments in the struggle against environmental problems. The premise of this paper is that the inadequate structure of environmental taxes has a negative impact on allocations in the field of environmental protection. This hypothesis will be tested by using statistical methods and comparative analysis.

THE ROLE OF EU FUNDS IN DEVELOPMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES IN POLAND

Author(s): Marta Kołodziej-Hajdo / Language(s): English / Publication Year: 0

European Union accession gave Polish enterprises a chance of increasing competitiveness thanks to EU funding. That should influence economic revival, especially increasing of entrepreneurship, including SME. This sector plays a significant role in Polish as well as in European economies and EU funds act as additional incentive of growth of this sector.

The Role of European Union Funds in Local Investment Policy: Evidence from Łodzkie Region

Author(s): Dominika Wojtowicz / Language(s): English / Issue: 29/2014

Effective investment policy executed by local governments improves the standard of living for residents and stimulates socio- economic development of a commune. After joining the European Union (EU) in 2004, Polish local governments (as well as all other accessing countries) gained a new source of financing for the development of local infrastructure. The article focuses on the role of EU structural among other sources of financing communes’ investment policy. We explore this issue within a case study of one of the Polish regions. The results confirm that EU structural funds have become an important source of external funding for local investments in Łodzkie voivodships, supporting mainly the development of environment protection and transport infrastructure. However, the role of these funds in investment policy realization is limited due to the stiff competition among local governments in applying for funds and specific procedures of obtaining such donations. The research also shows that the availability of EU funds significantly influences decisions of local leaders on investment policy implementation.

The role of Germany in the eurozone crisis – pragmatic rescuer or power-hungry torturer? An „Austrian” perspective

Author(s): Juergen Wandel / Language(s): English / Issue: 03/2016

Germany’s role in the eurozone crisis is a subject of debate. Does Europe’s largest economy act pragmatically and lend a helping hand to the crisis countries or does its fixation on austerity and structural reforms prevent their discovery? This article discusses this question using the business cycle theory of the Austrian School of Economics as normative benchmark. It is argued that Germany’s insistence on fiscal discipline and market-oriented reforms is basically in line with the normative conclusions of this theory, while the reforms suggested for the monetary system fail to adequately solve the crucial problem which is seen in the high politicization of this sector. It is shown that Germany only partially succeeded in implementing its policy preferences in the eurozone’s anti-crisis policy. This only holds for its claim for austerity and structural reforms, whereas it has not been influential enough to prevent the European Central Bank’s counterproductive ultra-loose monetary policy and its enlargement of power. It is contended that in the eurozone crisis Germany has so far performed the role of a pragmatic rescuer rather than of a merciless tormentor.

The role of government in forming agricultural policy: economic resilience measuring index exploited

Author(s): Mangirdas Morkūnas,Artiom Volkov,Yuriy Bilan,Agota Giedrė Raišienė / Language(s): English / Issue: 31/2018

EU member states economies are characterized by a high degree Government involvement into countries economy compared to some other Western states (Singapore, United States and etc.). There is a noticeable scientific thinking stating that too high Government involvement into the matters of its countries particular economic sector may bring adverse effects. It raises a scientific and practical problem: how to decide if Government should intervene into the particular economic sectors operations and when? In order to solve this issue, an economic resilience measuring index of agricultural sector was created. The agricultural sector consumes the biggest part of EU budget, acts as a main employer in rural regions of EU member states and is very susceptible to external perturbations, especially from the demand side, as supply cannot be timely adjusted to demand. Thus it was chosen as a target sector in our scientific research. In order to select the indicators for agricultural sector’s economic resilience measuring index we conducted an expert survey. Based on an Analytic Hierarchy Process model the final set of indicators and their weights for an agricultural sector’s resilience were established. The economic resilience index created in accordance to MCDM SAW method. A created index is appropriate in evaluating the resilience of agricultural sector in all open economies making it a versatile tool in a Government officials hands in order to decide the necessity of intervening actions into agricultural sector.

The Role of Green Public Procurement in the Implementation of Sustainable Development. City of Łódź Case Study

Author(s): Małgorzata Burchard-Dziubińska,Tomasz Jakubiec / Language(s): English / Issue: 4/2018

The article concerns the practical use of green public procurement to implement sustainable development. The use of this type of instrument in the investment activity of the city in the years 2007–2017 is presented on the example of the City of Łódź. Documents related to the implementation of public procurement were analyzed. The research was subordinated to the verification of the hypothesis that the implementation of urban investments using green public procurement and ecological criteria is an effective mechanism for the implementation of sustainable development by the territorial self-government. The results confirmed that green public procurement contributes to the improvement of the natural environment and the quality of life of residents in accordance with the concept of sustainable development.

The Role Of Grenelle in Corporate Social Responsibility Integrated Reporting

Author(s): Radoslaw Wolniak / Language(s): English / Issue: 18/2013

There is in the paper, the analysis of the Grenelle II act from Corporate Social Responsibility reporting point of view. France has long been an important global champion of corporate sustainability reporting. While this trend has advanced the integration of CSR into business practices, the increasing number of regulations has also made it more complicated and costly for international companies to create reports that fulfill the differing requirements of each foreign law. The Grenelle 2 law adopted in July 2010, implements the Grenelle I goals. It sets specific objectives, strategic, incentives and regulations. This Act aims at forcing companies to progress in reporting their environmental and social information: there is no sanction (such as fines), requirements are on a “coin ply or explain” basis and the implementation is progressive. The main advantage of such an Grenelle II Act is a beginning and will have to be rewritten and improved, taking into account the international movement — is to shift minds regarding CSR. CSR and extra—financial information has nothing to do with communication anymore it is clearly a strategic and management process, facilitated by the reporting process.

The role of institutions for cluster development based on the regional labour force concentration

Author(s): Vera Boronenko,Zane Zeibote / Language(s): English / Issue: 2/2011

The objective of this paper is to examine the role of institutions and policy support for cluster development and competitive advantages of regions based on the regional labour force concentration. The tool of the cluster identification in regional economy - Localisation Quotient (LQ) - has been applied to measure the concentration of the labour force in main economic sectors in Latvia and Finland. This comparative analysis has shown that Finland has much stronger regional labour force concentration in certain sectors of the economy, which is not typical for Latvia, revealing that the regional economy of Latvia has much lower potential for cluster development and competitiveness in global markets as Finland. Results of this research confirm that governments should support cluster development based on naturally growth poles exploiting potential of regional comparative advantages, such as specific concentration of skills and knowledge (labour force), concentration of industries, natural resources, etc. to achieve sustainable long term development by applying cluster approach, but not concentrate on short term priorities in cluster development.

The role of Katowice Special Economic Zone Co. Marketing consistent with the “Programme For Silesia”

Author(s): Ewa Dudzic,Wiktor Widera / Language(s): English / Issue: 1/2/2017

The aim of the article is to indicate the role of marketing, consistent with the Programme for Silesia in the functioning of the Katowice Special Economic Zone Co. The Katowice Special Economic Zone Co. manages the Katowice Special Economic Zone, which is one of the Special Economic Zones set up in the period of economic and political change in Poland to activate the region and eliminate unemployment. In the Strategy for Responsible Development, adopted in Poland by the Council of Ministers on 14 February 2017, Silesia is recognized as one of the key areas requiring support from the national level. The Programme for Silesia, listed as one of strategic plans in the Strategy for Responsible Development has been in consultation process with the economic and social entities. The consultation draft of the Programme for Silesia made the Katowice Special Economic Zone Co. consider carrying out new tasks that might fit into its implementation. These tasks would require professional marketing effort and introduction of additional points in Katowice Special Economic Zone Co. Operational Plan for coming years.

THE ROLE OF LOCAL AUTHORITIES IN THE NEW DIGITAL EUROPE FRAMEWORK. WHAT CAN THEY BRING TO THE TABLE?

Author(s): Mirela Marcut / Language(s): English / Issue: 12/2020

This article analyzes the contribution of local authorities, either cities or regions, to the new EU digital strategy, based on the acknowledgment of the need for strengthened coordination among societal actors for digital transformation. By using document analysis of the new policy documents on Digital Europe, the article postulates that the new digital policy is different from previous endeavors and, as such, more active involvement should be sought from various actors. The article lists two potential pillars in which local authorities contribute, namely either by direct involvement, based on the main ideas from the strategy, or by indirect involvement. The indirect involvement regards the building of trust and the encouragement of citizen participation so as to increase the transparency of digital transformation with ramifications up to the European level.

The Role of Pre-Accession Non-Reimbursable Funds in Preparing the Access to and the Absorption of Non-Reimbursable Assistance of the 2007-2013

Author(s): Mihai Ovidiu Cercel,Laura Elena Marinas / Language(s): English / Issue: 32/2011

The pre-accession instruments that supported the adhesion of new Member States in 2004 and 2007, as well as the new instrument, have an important component of technical assistance designed to support future Member States to access and manage structural funds - the main form of non-reimbursable assistance to Member States. The technical assistance measures applied are designed to support future Member States to build institutional and legal framework, including the training of human resources required for the new created structures.

The Role of Regional Development Policies in Reducing Territorial Disparities

Author(s): Constanţa Enea,Constantin Enea / Language(s): English / Issue: 2/2010

This paper aim is to analyze the variance of the net nominal monthly earnings by counties and development regions using the most recent estimated statistics from Statistical yearbook 2007. We applied one-factor analysis of variance – ANOVA. We considered that the „Romanian development regions” is a factor of interest and we tested if it has a significant effect on the “net nominal monthly earnings” regional differences.

The Role of Sovereign Wealth Funds in the Global Economy: Conclusions for Poland

Author(s): Damian Wnukowski / Language(s): English / Publication Year: 2016

Sovereign wealth funds (SWF) have become important investors in the global economy. However, they are not only a source of capital but also instruments of foreign policy. From Poland’s point of view, cooperation with such funds can be beneficial in, for example, the realisation of an investment, such as infrastructure, as well as in the development of a capital market. Nevertheless, some challenges related to these funds must be considered, such as the frequent lack of transparency. There is also debate in Poland about the creation of the country’s own wealth fund. It can be used for investing abroad and attracting other funds for projects in Poland.

THE ROLE OF THE STATE AND UNIVERSITIES IN GENERATING INNOVATION

Author(s): Victoria Sîrbu / Language(s): English / Issue: 10/2018

It cannot be denied that innovation is a process that is happening continuously and in every sector of the economy. This is why the question who is the main force behind innovation appeared. Some scholars think that the private sector does the job, while others believe that the university and the public sector play a big role in creating innovation. Even so, as this qualitative research shows, neither actor is more important than the other, as they all contribute to generating innovation. Moreover, the Entrepreneurial State theory by M. Mazzucato and the Triple-Helix Model by Etzkowitz H./Leydesdorff L. come to explain that the state and university has a significant role in innovation, similar to the private sector. On top of it, the Triple-Helix Model suggests that the innovation of nowadays is a result of interconnections between the university-industry-government and it cannot develop without the other. Thus, this leads to the idea that innovation is happening because of more factors that need to be properly commercialized and made visible to the public in order to change the misunderstanding created.

THE ROLE OF THE STATE IN DETERMINING THE EFFECTIVENESS OF ENVIRONMENTAL INSURANCE

Author(s): Malwina Lemkowska / Language(s): English / Issue: 2/2017

The concern for the natural environment gives rise to the need for corporate developments toward systemic management tools for environmental risk management, including private insurance. The purpose of this research was to answer the questions: what are the premises for the effectiveness of insurance in environmental risk management and what is / should be the role of the state in the moulding of these premises? It was assumed that effectiveness is a multidimensional concept linked to the subject-centred idea of risk. Description and clarification were performed on the basis of inference as a method of logical reasoning. The attributes of the natural environment and the external effects of human activity validate the state’s intervention in the system of environmental risk management. Additionally, the passive attitude of insurers and the potentially insured increases the need for governmental activity. It may amount to substantive, factual participation or providing stimuli and organising a common platform for cooperation of competent entities. The effectiveness of a macroeconomic risk management system depends on the system’s effectiveness on the micro-level (the degree of fulfilment of goals for insurers and the insured). This argument should be decisive with regards to the selection and structure of the state insurance strategy and its instruments