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Indicators for assessing the financial condition and municipality management

Author(s): Jarmila Šebestová,Ingrid Majerová,Irena Szarowská / Language(s): English Issue: 31/2018

The aim of the article is to create a set of indicators for assessing financial stability and municipality management. Local governments in the Czech Republic are fully financially responsible for their budget and management. Financial stability of municipalities is a crucial condition for long-term sustainable development as disproportionate debt can generate risks for providing public services and their standard functioning. The Ministry of Finance defined a set of financial indicators (SIMU system) which could be used for financial stability evaluation, but only two of them are obligatory (a share of liabilities to total assets in percentage, and the current ratio). Indisputable advantage is its standard form of financial evaluation for all municipalities and relatively simple method of calculation based on delivered data. Main disadvantage can be seen in the fact that the municipality receives feedback only for two indicators, which have a recommended value. The municipality does not get a clear idea of the state of its cash position and this approach is not taking into account short-term and long-term indebtedness as well as the size of the municipality. That is why a new methodology based on three groups of indicators (budgetary management, indebtedness and liquidity) was developed and tested. The article presents results about local governments in the Moravian-Silesian region. The methodology increases transparency in the municipality management and supports citizen´s engagement into public matters through standardized approach to each municipality based on seventeen ratios.

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Assessing Fiscal Sustainability in Ukraine: TVP and VAR/VEC Approaches

Author(s): Victor Shevchuk,Roman Kopych / Language(s): English Issue: 3/2018

Objective: The purpose of this article is to investigate fiscal sustainability in Ukraine, using quarterly data sample for the period between 2000 and 2016, in accordance with a recursive algorithm derived from the law of motion of the debt-to-GDP ratio developed by Croce and Juan-Ramon (2003). Research Design & Methods: An assessment of fiscal sustainability in Ukraine is provided according to a recursive algorithm derived from the law of motion of the debtto-GDP ratio, developed by Croce and Juan-Ramon (2003). Both time-varying parameters (TVP) and vector error-correction autoregression (VAR/VEC) models are used. Findings: It is found that there is causality running from the budget surplus to the gap between real interest rate and GDP growth rate, however it is not sufficient to guarantee a sustainable debt to GDP ratio. Implications & Recommendations: Our findings argue in favour of fiscal policy actions aimed at an increase in the government revenues, combined with the public sector expenditure cuts, as current policies do not seem to be sufficient to achieve fiscal sustainability. A more detailed study is needed in order to identify most efficient approaches for a decrease in the budget deficit across a detailed ‘menu’ of expenditure and revenues. Any attempts to decrease interest rate and/or stimulate output growth by an expansionary monetary stance are likely to be counterproductive in the presence of substantial public external debt. Contribution & Value Added: This empirical study provides an indication of the possibility of default on foreign public debt liabilities in Ukraine.

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The phenomenon of urban sprawl in modern Poland: Causes, effects and remedies

Author(s): Anna Karwińska,Aleksander Böhm,Michał Kudłacz / Language(s): English Issue: 45/2018

Objectives: The objective of this article is to identify the reasons for the emergence of urban sprawl in Poland, with particular reference to selected medium-sized cities in the Małopolska voivodeship, located at different distances from Kraków. The second objective of this article is to indicate the awareness of the authorities of these cities of the influence of the core city (Kraków) and their efforts to use this phenomenon for their own developmental goals. Research Design & Methods: Documents defining the socio-economic development policies of Limanowa, Niepołomic and Nowy Targ were used for the analysis, as well as selected quantitative data indicating the direction and strength of the urban sprawl. An important element of this article is an indication of the consequences of this phenomenon and remedies for public administration of various levels in Poland. The model of gravitational potential was utilised as the research basis.Contribution / Value Added: As an added value, an attempt should be made to indicate the relation between the values of indicators and the policy of local development (actions of local authorities to eliminate negative effects of the urban sprawl phenomenon).Implications / Recommendations: Although the urban sprawl phenomenon is involuntary (and ubiquitous), it can be controlled, and the lack of actions to control consequences will make them even more acute. Solutions should be systemic in nature and implemented at the level of central administration in Poland, but the attitude of local authorities is also important. In addition, the influence of Kraków on its functional surroundings has a different strength and character. From the point of view of local authorities, it is important to diagnose strength and character (positive or negative) in order to properly choose the direction of the given city’s development policy.

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Diverging workplace innovation trajectories in the European public sector (a preliminary cross-country comparison)

Author(s): Csaba MAKÓI / Language(s): English Issue: 45/2018

Objectives: The core aim of this paper is to improve our knowledge base on the innovation process comparing how public and private organisations can develop abilities to innovate in order to cope with the challenges created by the changing priorities of the political market, the intensification of global competition and the higher speed of the technological changes. The authors intend to identify and compare the creative/learning capabilities of the workplaces in the EU-27 countries.Research Design & Methods: In testing empirically the various types of jobs our analysis uses the data sets of the fourth (2005), fifth (2010) and sixth (2015) waves of the European Working Conditions Survey (EWCS). The EWCS is a crosssectional survey taken in every five years since 1990, organised by the European Foundation for the Improvement of Living and Working Conditions (Eurofound, Dublin). The recent editions of this survey cover more than 40,000 workers in the EU member states and in various other European countries (Eurofound, 2017). We used a cluster analysis in order to identify three clusters of jobs in Europe and their prevalence in different countries and country groups.Findings: The data from the European Working Condition Surveys (2005, 2010 and 2015) shows that in the public administration boosts creative workplaces in all countries. The ability of organisations to mobilise their internal resources into efficient and dynamic routines depends on intangible resources (e.g. creativity) and less on such traditional tangible factors such as physical or financial sources. Powering public sector innovation is inhibited by the following major factors: unfavourable institutional settings; weak innovation leadership; lack of systematic knowledge of the innovation process; and a shortage of the systematic data collection at both the EU and Member State levels.Implications & Recommendations: The increasing rate of creative jobs may speed up the implementation of the “High-Engagement Civil Services” to improve both efficiency and quality of work in the public sector. A more profound and evidence-based understanding of the innovation processes at the workplace level would allow us to exploit the full potential thereof in terms of positive impacts on both employment and job quality.Contribution & Value Added: Despite the fact that innovation studies have been at the heart of socio-economic research for decades now, relatively little attention has been paid on innovation in the public sector. This research topic has gained more importance only in the 2010s and thus there is often a lack of empirical evidence for this sector, which plays a crucial role in all developed economies as a major employer as well as the main actor shaping the regulatory environment. This article is among the first attempts aimed at giving insights into the job characteristics of public sector organisations.

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Public procurement efficiency in agriculture and forestry in Slovakia

Author(s): Beata Gavurova,David Tucek,Andrea Tkáčová,Jakub Danko / Language(s): English Issue: 30/2018

Agriculture and forestry in Slovakia is a sector that includes the highest number of contract awards in public procurement. The main aim of this article is to identify an influence of selected determinants on public procurement efficiency in agricultural and forestry sector in Slovakia. There are created two basic types of models based on a sample of 291 contracts, which were formed by means of a multiple linear regression in program R. The first model examines an influence of variables on public procurement savings that is defined as a rate of the final and probable price of the contract. This model confirms a positive influence of a number of offers on savings’ formation, where each next offer increases saving of approximately 8.816 %. On the other hand, a subcontractor’s presence reduces saving by 19.9 %. The second model examines and influence of variables on a number of offers in public procurement. The number of offers in a given sector positively influences a public competition, while there is usually of three offers more than in the negotiating process. However, the number of offers decreases when a contract is financing from the EU funds and when contract specifies a criterion of quality.

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Recent Changes of IMF Conditionality and Its Effects on Social Spending

Author(s): Gurgen Ohanyan / Language(s): English Issue: 5/2015

The IMF programs have been long criticized for having adverse effects on social spending. Yet, on the onset of the global financial crisis, it has undergone major changes aiming at streamlining its conditionality by introducing novel arrangements and methods to safeguard spending on health and education. Thus, the paper seeks to reveal whether the reforms have been effective and produced real change of IMF conditionality through analysing primary documents, scholarly appraisals of IMF conditionality regarding social spending. Then, by applying “before-after” approach to the most recent database of monitoring of Fund arrangements, the article concludes that the IMF after 30 years of imposing neoliberal views through conditionality has achieved notable improvement, since it streamlined conditionality in non-core areas of its mandate and introduced measures to protect social spending in low-income countries.

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Views on the Absorption Rate of the European Social Fund in Romania

Author(s): Laura Elena Marinas,Eugen Prioteasa / Language(s): English Issue: 3/2015

Analysis of the absorption rate has a significant importance since it measures the capacity a state or region to make effective and efficient use of the funding available under cohesion policy which is considered the most important EU investment policy. This paper aims to analyze the factors influencing the absorption of EU funds (ESF) in Romania. The analysis will target, in particular the administrative capacity related factors. The methodology developed by the authors to measure absorption capacity was applied to the case of Romania’s ESF funded Operational Programs funded during 2007-2013 under Convergence Objective. The results obtained allowed the authors to reveal the main administrative weaknesses explaining why Romania has very low absorption rate; the bottlenecks identified should be lessons learnt and should be properly addressed by Romanian policy makers for 2014-2020 programming period.

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Local Government Financial Distress: International Comparison and Latest Developments in the Light of the Italian Spending Review Approach

Author(s): Paolo Ricci,Renato Civitillo / Language(s): English Issue: 2/2015

Although it is not difficult to note the increasing number of financial crises in the public sector field (municipalities, counties, states, etc.), it is quite easy to see that most of the literature has focused mainly on pathological situations occurred in private companies (Cahill and James, 1992; Honadle, 2003; Migliaccio, 2012). The key question, therefore, lies in the consequences for stakeholders involved arising from different remedies. USA and Italy legal system provides for a mechanism to be used trying to heal the crisis but they are forms of intervention after the crisis. The real question is to clarify why, today, is relatively simple and common for local governments to have over-spending crisis. The answer to this question lies, probably, in the correct vision and understanding of public administration and, in particular, of local government.

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The Role and Importance of Governance for the Public Sector. Case Study for Romania

Author(s): Adelina Dumitrescu / Language(s): English Issue: 4/2014

The development and modernization of public administration under restricted budgetary resources imposes a rigorous control on the spending of public funds. In this regard the modified law of internal public audit underlines the necessity for institutional governance in the public sector. The paper starts from these changes of the Romanian internal public audit law analyzing the relationship between audit and management, and the importance of governance in the public sector. The used method of research is based on the qualitative analysis of internal audit activities which are meant to add value to management processes in public entities. The originality of the paper consists in the qualitative study based on interpretative methods for understanding the effects of governance on management and audit. The conclusions of the study are presenting in the paper by a governance model for the public sector and can act as starting point for future research.

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National Debt Management

Author(s): Angelica Băcescu-Cărbunaru,Monica Condruz-Bacescu / Language(s): English Issue: 2/2013

According to Romania Constitution (Art.136) „the formation, administration, usage and control of state’ financial resources, of administrative units, and public institutions are regulated by law”. Also, the law regarding public financing states that the management of public financial resources is accomplished by a unitary system of budgets. This comprehensive, unified, correlated system of sources and resource needs form the general, consolidated budget, which reflects national public financial flows, in terms of formation and their destination, in accordance with the financial policy objectives specific to the period (year.) General consolidated budget represents a justification document of the public financial balance and a tracking one for observance throughout the budget year. The main component of the budget system is the state budget. An important issue regarding the state budget is that regarding the coverage of a country’s debts. Therefore, the article clarifies certain issues linked to the primary budget deficit, public debt, and the report between debt and income.

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Ranking Mechanisms in Public Investment

Author(s): Adriana Grigorescu,Andrei Claudiu MOTOC / Language(s): English Issue: 5/2011

Properly spending the budget on public investments is the main issue of public authorities. The investment projects sustained by the state are very important for the entire socio-economic life. This is the reason that put the selection process of the solution under question marks and suspicions. A stable and honest rankings mechanism that is taking into account multiple socio-economic indicators and their social importance could be a solution. The transparency of the process and the implication of the contributors/citizens should be taken into consideration. The paper presents the main characteristics of the public investments regulation and procedure in Romania and it focuses on three mechanisms of ranking the solutions for an investment project. The validation of the mechanism could be made using existing data by a panel of experts as further development of the research.

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Istota i znaczenie szarej strefy w krajach członkowskich Unii Europejskiej

Author(s): Piotr Misztal / Language(s): Polish Issue: 2/2018

The shadow economy is a diverse concept and encompasses a series of phenomena whose common feature is the fact that it is beyond the control of the state. The complexity of the definition of the shadow economy also has its consequences, among others in its proper measurement and creating precise mechanisms aimed at combating it. The underground economy is constantly changing and adapting to current market conditions. In particular, the latest changes in the ways of working and business models, the development of the digital economy, wider social changes and globalization make new activities appear in the shadow economy and some existing ones expand their intensity and scope. They can create new social problems and may potentially undermine tax compliance in a wider scope. Therefore, the aim of this publication is to diagnose the main areas of activity in the shadow economy, with simultaneous indication of the causes and economic effects of its functioning and to determine the importance of the shadow economy in the EU member states.

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MARKETING DEPARTMENT AS A PART OF ORGANIZATIONAL STRUCTURE OF UNIVERSITY AND FACULTY HOSPITALS IN SLOVAKIA

Author(s): Matej Martovič / Language(s): English Issue: 1/2018

In the environment of Slovak hospitals, marketing is usually unappreciated and often considered unnecessary. In countries which rank among the best in the healthcare quality measuring, hospitals have marketing departments as a part of their organizational structure. The article is going to address the issue of marketing departments and marketing implementation in the university and faculty hospitals in Slovakia.

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Does Demography Matters in Growth of Government Expenditure? A Case Study of Jammu and Kashmir (India) With Co-Integration Approach

Author(s): Samir Ul Hassan,Biswhambara Mishra / Language(s): English Issue: 11/2017

The paper investigates the behavior of demographic dimension on the growth of aggregate Government expenditure in the state of Jammu and Kashmir (India) in long and short run. Demographic dimensions, anywhere, are related to different aspects of population which pushes the government expenditure to higher level. The state of Jammu and Kashmir is not the exception, the increasing trend in different aspects of population, rising needs and aspirations of the growing population forces the government to increase expenditure on that count, which result in increase in aggregate government expenditure. Using multivariate co-integration technique followed by VAR model on annual time series data for the period 1984-2013, the study found that demographic dimensions do not have long run association with government expenditure. The demographic variables affect government expenditure only in short run. Our study found that population above 65 and rate of urbanization are significant demographic factors which produce positive change in government expenditure while increase in total population is insignificant to produce change in government expenditure.

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Стратегия на Европейската комисия за обществените поръчки. Възприемане на европейските приоритети в областта на обществените поръчки от Република България

Author(s): Momchil Mavrov / Language(s): Bulgarian Issue: 3/2018

Within the European Union, a very large percentage of public investment is spent through public procurement. This trend has a significant impact on the financial costs of the Union, which is why a number of measures have been taken to create an adequate and flexible legal framework to ensure the delivery of better and more efficient public procurement. Some of these measures are aimed at adopting appropriate acts in the field, such as: Directive 2007/66 / EC of the European Parliament and of the Council, Directives 89/665 / EEC and 92/13 / EEC, the Single Market Strategy (COM (2015)) 550), as well as the European Commission‘s 2017 Public Procurement Strategy. The latter document is important for improving European practices in the field, as it defines priorities in Community policy with regard to public procurement. The Bulgarian legislator should be well acquainted with the European legal framework for public procurement with a view to its proper application in national law.

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Theoretical approaches on international projects/programs

Author(s): Doru Cristian Todorescu / Language(s): English Issue: 1/2014

The modern world of the beginning of the twenty-first century finds itself in a complex system of interdependences in which the economic factor has a definitive role to play. These realities produced by “the third wave” surprised both Europe and the rest of the world at the end of the sixth decade of the last century, trapped in an archaic depiction, but have resulted in a very different world. Project management has emerged in this process as a natural consequence of globalization processes manifested in all areas of economic, social, political, military, cultural, and legal. Whether it was the strategy of multinational companies or the visions of socio-political development of world states, the project in its essence as a possible solution to a problem has become a universally accepted way of getting things done, internationally. Conceiving performance projects that utilize resources effectively and respond timely to the needs of society has become the concern of specialists who founded and developed the science named management of international projects.

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Europos Sąjungos finansuotų 2004–2006 ir 2007–2013 m. socialinės politikos projektų pasiskirstymas tarp Lietuvos savivaldybių

Author(s): Monika Ūselytė-Kravčionok / Language(s): Lithuanian Issue: 4/2018

From the start of membership in the European Union (EU), Lithuania implemented two EU funding periods, from 2004 to 2006 and from 2007 to 2013. The current funding period for 2014–2020 is not covered. During each period, different goals were raised. The first period was dedicated for infrastructure projects which was important to provide the basis for further development. Mostly social service centers, pre-primary education institutions, elderly care centers, schools and other social service infrastructure have been improved or developed. During the second financing period, the aim of projects was to develop social dialogue, services and service quality assurance, life-long education and human resources. Because of the absence of knowledge how EU-funded projects are distributed by Lithuanian municipalities this article attempts to answer this question. This article presents the distribution of EU-funded social policy projects in Lithuanian municipalities. All projects are quantitatively mapped. The analysis of the maps divides municipalities into five categories according to the number of implemented projects. During the first funding period, projects were unevenly distributed in municipalities, but the gap between the major cities of Lithuania was quite proportional to the size of municipalities. During the second funding period, Vilnius and Kaunas municipalities increased the number of realised projects by four and five times, respectively. For the whole period 2004–2013, the largest potential of EU-funded projects was realised in the two major cities of Lithuania, Vilnius and Kaunas, with a disproportionate gap between them and both the third largest city and other municipalities.

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ПЕТТЕ ОБЩЕСТВЕНИ ДОГОВОРА – ПРОБЛЕМИ И РЕШЕНИЯ ЗА БЪЛГАРИЯ

Author(s): Bancho Banov / Language(s): Bulgarian Issue: 1/2019

The Article takes credit from notorious book of Jean Jacques Rousseau “The Social Contract“and develops the idea.The author stipulates the thesis that nowadays, especially for small countries like Bulgaria, there are not one – but five social contracts.First – between the voters and the parties in National Parliament.Second between ruling Party in Parliament and domestic business.Third –between the ruling Party (and the state itself) and foreign creditors of the country – including access to domestic markets by foreign firms. Fourth – between the ruling Party (and the state itself) and foreign companies for access to domestic resources.And fifth between the ruling Party (and the state itself) and foreign countries for the defense of the country. The contracts are fulfilled from No. 5 towards No.1.All cost money for the domestic economy.It depends how they are concluded for the fact whether there will be enough money for contact No.1 – between the ruling party and its citizens.

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Monetary Policy and the Causality Between Inflation and Money Supply in Indonesia

Author(s): Gatot Sasongko,Andrian Dolfriandra Huruta / Language(s): English Issue: 1/2018

Conceptually and empirically, inflation volatility in Indonesia is a monetary and fiscal phenomenon. This study focuses on the macroeconomic policy and public policy especially causality between two variables namely inflation and money supply in Indonesia. This study uses Indonesian macroeconomic data of inflation and money supply from the Bank of Indonesia publication during 2007.1–2017.7. Inflation is measured by the consumer price index, reflects the annual percentage change in costs of acquiring a basket of goods and services to the average consumers that may change at specified intervals. Meanwhile, money supply is measured by the currency, demand deposits, time deposits, and saving deposits. Methodically, this study uses the Granger Causality model to determine the causality between inflation and money supply. The results show that there is a one-way causality between inflation and money supply in Indonesia. These findings imply that money supply causes inflation, but not vice versa. This condition implies that the role of Indonesian Government and Bank of Indonesia were very crucial in managing and controlling macroeconomic policy and public policy. Then, analysis of money supply and inflation also related to impacting factors such as money laundering, role of banks, taxation, tax evasion, and corruption.

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TÜRKİYE’DE HARCAMALAR YÖNTEMİYLE MİLLİ GELİR TAHMİNİ: EŞANLI DENKLEM MODELLERİ VE GENELLEŞTİRİLMİŞ MOMENTLER YÖNTEMİ İLE TAHMİN

Author(s): Yunus Bulut,Fatih KAPLAN / Language(s): Turkish Issue: 1/2011

In this survey, simultaneous equations systems which define the relationship between correlational dependent variables, estimations that are used in the case of forming from single-equations and multi-equations of these systems. Furthermore, Generalized Method of Moments which is unrestricted like homoskedasticity and uncorrelated of error term for the effectiveness of results, analysis for GDP (gdp), Government Expenditure (gov), Consumption Expenditure (cns), Investment Expenditure (ins) and Net Exports (nx) that are concerning to 2001:1-2010:2 period for Turkey for quarterly macroeconomics variables.

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