SYSTEM REZERWY FEDERALNEJ

Author(s): Wojciech Kwiatkowski / Language(s): Polish

Jest to pierwsza w literaturze polskiej książka, w której omówiono w sposób systematyczny kluczowe zagadnienia związane z funkcjonowaniem banku centralnego Stanów Zjednoczonych tj. Systemu Rezerwy Federalnej. Autor przedstawia historię tworzenia banku, jego strukturę organizacyjną, cele i zadania oraz sposoby ich realizacji, a także mechanizmy podejmowania decyzji przez jego organy i zakres ich autonomii w strukturze władzy USA. Książka przynosi wiedzę pozwalającą odrzucić istniejące w sferze publicznej i często bezkrytycznie przyjmowane (także w Polsce) teorie spiskowe dotyczące powstania i funkcjonowania Systemu Rezerwy Federalnej. Ich żywotność wynika zarówno z nieznajomości tego z jakimi kwestiami bank centralny USA musi zmagać się na co dzień w realiach amerykańskich, ale też z niezwykle złożonego systemu polityczno-prawnego Stanów Zjednoczonych.

Decentralizimi Fiskal në Republikën Çeke: Çështjet Aktuale dhe Problemet

Author(s): Phillip J. Bryson,Gary C. Cornia / Language(s): Albanian Publication Year: 0

The Czech Republic's economic and fiscal transition to a market-oriented and decentralized economy, as well as progress in achieving local self-government, have been notable. These achievements have placed the Czech Republic on the list of countries aspiring to be part of the European Union. This is the second time that the Czechs have come close to membership as a modern democracy. At the end of World War I, Bohemia and Moravia were no longer part of the Austro-Hungarian Empire. By then, they had secured limited self-government and had embarked on a path toward industrial development. When the Empire dissolved in 1918, Slovakia joined Bohemia and Moravia to form the Federal State of Czechoslovakia. This first and temporary experiment in federalism gave the new federation an opportunity to experiment with democracy and begin a tradition of local self-government.

Decentralizimi fiskal në Poloni

Author(s): Bartlomiej Gurba / Language(s): Albanian Publication Year: 0

This paper describes two reforms of the intergovernmental fiscal system in Poland, which took place during the last decade. The 1991 decentralization reform aimed at self-government at the local level, while the 1998 reform targeted the regional and intermediate levels. The framework for this analysis is the definition of the concept of decentralization and the classification of its three dimensions according to Rondinelli (1981). The aim of this paper is to find out how deep fiscal decentralization is in Poland, i.e. the first dimension, and whether it is satisfactorily combined with the other two dimensions - political and administrative decentralization. According to Rondinelli, decentralization is a transfer of authority and responsibilities for public functions from the central government to lower forms of government that have a high degree of independence. Rondinelli distinguishes between three types of decentralization: political decentralization, administrative decentralization and fiscal decentralization.

Transferta e granteve në Financat e Qeverisjes Lokale në Poloni

Author(s): Piotr Bury,Paweł Swianiewicz / Language(s): Albanian Publication Year: 0

Local government reform was one of the main priorities of the first post-communist government, which was formed in September 1989. The 1990 reform included elected local government in municipalities, while the higher levels continued to be managed by the state administration. At the end of 1998, the government decided to change the territorial organization of the state and establish a new (higher) level of local government. As a result of this process, there are now three levels of territorial government: almost 2,500 municipalities, 315 counties (plus 65 cities with county status) and 16 regions. Self-government is the only form of public administration for the two levels: municipalities and counties. At the regional level, there is a dual structure - on the one hand, elected self-government, and on the other - a governor (wojewoda), appointed by the Prime Minister, with his/her administrative apparatus.

Transfertat e Granteve dhe Mbikëqyrja Financiare në Bullgari: Parime dhe Praktikë

Author(s): Svetlana Alexandrova / Language(s): Albanian Publication Year: 0

The development of local democracy requires financial, legislative and territorial administration conditions. The transformation of the regional and local structure is a change first of all in the local institutional structure and then in the behavior of administrators and in the role of civil society.

Grantet e Transferueshme dhe Mbikëqyrja Financiare në Rumani: Fokus mbi Reformat Kryesore të Prezantuara nga Ligji i Financave Publike

Author(s): Clare Romanik,Francis Conway / Language(s): Albanian Publication Year: 0

The basic structure of local government in Romania is defined by the Constitution, under which local public administration shall be carried out “in administrative territorial units ... based on the principles of local autonomy and decentralization of public services”. Each administrative unit is organized as a legal person and has all the rights, obligations and functions defined by the laws of Romania. The two levels of local government in Romania are the County Council and the Local Council, with divisions in municipalities, cities and communes. There is no real or presumed hierarchical relationship between the two levels of local government. The Municipality of Bucharest has a special status and function from both the municipal and the city perspective.

Sistemi Financiar i Sektorit Publik në Bjellorusi: Problemet e mbi-centralizimit

Author(s): Željko Šević,Pliskevich Leonida / Language(s): Albanian Publication Year: 0

The Republic of Belarus is still a highly centralized state, despite the fact that some financial decentralization reforms have been implemented since 1997. For a long time, the central government has concentrated everything in its hands and controls almost the entire society. The country has a very brutal presidential regime, according to the “Executive President” model, where the president is officially the Head of State and at the same time the head of the executive branch. The Republic of Belarus is also called a “presidential state”, in which the President has the power of executive power, in addition to being officially the Head of State.

Grantet e Transferueshme dhe Mbikëqyrja Financiare në Kirgistan

Author(s): Nazira Tiuliundieva / Language(s): Albanian Publication Year: 0

The Kyrgyz government has made great progress in stabilizing the economy and reforming various sectors. Thanks to the support of the World Bank, the Public Sector Resource Management Adjustment Program (PSRMAC) has been adopted and steps have been taken in the 1997 budget to implement various elements of the reforms.

INDEPENDENCE OF PUBLIC PROCUREMENT AUTHORITY

Author(s): Mária Patakyová / Language(s): English Publication Year: 0

Nowadays, many countries suffer from loss of confidence of their citizens. Huge protests are spread throughout many states even in the EU. The time has come to analyze the principles of good governance in order to make states trustworthy organizations again. This paper aims to contribute to the discussion by focusing on independence of state authorities. As public spending is often a cause of citizens’ dissatisfaction with governments, the independence of public procurement authorities shall be analyzed in particular. This paper deals with requirements for independence and applies them to a chosen public procurement authority, the Office for Public Procurement, which is the central authority for administration of public procurements in the Slovak Republic. Since there have been many affairs related to misspending of public resources, the de facto independence of the Office for Public Procurement can be questioned. Therefore, the paper puts forward the legal framework in which the Office for Public Procurement operates, and discusses its functioning in practice.

BANK RESTRUCTURING THROUGH THE PROCESS OF BANK INTEGRATION DURING THE GLOBAL FINANCIAL CRISES OF 2007

Author(s): Irena Lekoska / Language(s): English Publication Year: 0

The global financial, marked as a systemic crisis of investment banking, was caused by the activities of one of the most exploited financial derivatives – the process of securitization. Considering the fact that the financial sector is one of the most globalized sectors, the financial crisis from the United States immediately struck the European market and has grown into a worldwide financial crisis. In the context of the processes of banks integration in the condition of the financial crisis, the question is whether there is a trend of increase or decrease of these processes? Therefore, the main objective of the paper is an analysis of the activities of banks integration during the financial crises and the adoption of appropriate conclusions.

SOURCES AND RESOURCES FOR FUNDING SPORT IN EUROPE

Author(s): Septimiu Ioan Puţ / Language(s): English Publication Year: 0

Direct or indirect public funding of sports activities is a reality in all European countries, except that political and legal funding models differ according to culture and civilisation, sports tradition and sports practitioners, mentalities and financial power. Private funding of sport or self-financing of sport is complementary to public funding and must ensure, in particular through revenue from games, betting and lotteries, revenue from the exploitation of property rights in sporting events and competitions, revenue from intellectual property rights, revenue from the issue and sale of securities, revenue from sponsorship, revenue from the transfer of professional athletes, adequate and sufficient funding for the development and support of sporting competitions and participation in sporting competitions. Contemporary sport is a complex machine that is constantly fed with considerable amounts of money in order to function and produce competitive performance. Without funding, sport cannot be competitive, it cannot achieve its specific goals in a world where the profit motive is irresistible.

КВАЛИТЕТОТ НА ИНСТИТУЦИИТЕ И НА ВЛАДЕЕЊЕТО (GOVERNANCE) ВО РЕПУБЛИКА МАКЕДОНИЈА

Author(s): Taki Fiti / Language(s): Macedonian Publication Year: 0

Уместно ли е счетоводното отчитане на отсрочени данъчни активи и пасиви в България

Author(s): Nikolay Oresharov / Language(s): Bulgarian Publication Year: 0

This paper examines whether the recognition of deferred tax assets and liabilities through the use of the temporary difference approach, required by the accounting standards applicable in the country, is useful for users of general purpose financial statements in Bulgaria. For this purpose, the influence on the value of the coefficient of financial autonomy was analyzed, if instead of the temporary difference approach, the tax payable approach is applied. The temporary difference approach requires the recognition of deferred tax assets and deferred tax liabilities for most differences between the carrying amount and the tax basis of the assets and liabilities where they differ. The tax payable approach is alternative. With it, a liability is recognized in the accounting balance only in the amount of the income taxes due for payment, calculated by converting the accounting financial result in accordance with the requirements of the material tax law. The results of the research show that the recognition of deferred tax assets and liabilities in the balance sheet does not bring informational utility to users, as it does not have a statistically significant impact on the variance of the coefficient of financial autonomy. These results justify the conclusion that, for the moment, in Bulgaria, the reporting of deferred tax assets and liabilities is irrelevant, as it is inconsequential to the decisions that users of the financial statements can make. Therefore, it is suggested that entity applying national accounting standards should account for income taxes using the tax payable approach.

ФИСКАЛНА И ЕКОЛОШКА ОДРЖИВОСТ – ИЗАЗОВ КОЈИ ЈЕ (НЕ)МОГУЋЕ ПОСТИЋИ

Author(s): Branka Topić Pavković / Language(s): Serbian Publication Year: 0

The transition to an economy that uses resources efficiently and protects people from the negative consequences of environmental change is set as one of the main goals of modern states. Countries are implementing various reforms and policies to address these challenges and improve mechanisms and strategies to protect the environment. States are expected to increase public investment for climate change adaptation, reduce the costs of more severe climate events and use fiscal instruments to support and facilitate the green transition. The key question is how to achieve the goals of environmental and fiscal sustainability at the same time, given that economic policy has set other priorities after the crisis.

ВЪЗМОЖНОСТИ ЗА УСТОЙЧИВО ИНТЕГРИРАНО РЕГИОНАЛНО И МЕСТНО РАЗВИТИЕ НА ТЕРИТОРИЯТА НА ОБЛАСТ БУРГАС

Author(s): Kamen Petrov,Nikola Tanakov / Language(s): Bulgarian Publication Year: 0

This report is devoted to the problems of regional development and the regional economy in Burgas region. The peculiarities of the spatial development and the problems of the territorial unit are presented. The report presents a characteristic of the area, an analytical evaluation of the economic situation has been prepared, outlining the main regional problems. At the same time, solutions and regional activities are proposed through which to improve the socio-economic situation of the region and to shape its new sectoral model for regional development. The problems in the territorial development of the Burgas region and especially the trends and peculiarities in the regional development of the municipalities and their focus and opportunities for improvement of the regional infrastructure and connectivity are presented.

ПРЕДИЗВИКАТЕЛСТВАТА ПРЕД ИНФРАСТРУКТУРНОТО И РЕГИОНАЛНО РАЗВИТИЕ НА ПРИСТАНИЩНИЯ СЕКТОР

Author(s): Maria Neikova,Niko Kukov / Language(s): Bulgarian Publication Year: 0

Ports are important critical infrastructures as key providers of services and goods for the entire economy. Cities can benefit from ports by providing employment, tax revenues and overall economic development, but a large part of ports can also have negative impacts on cities such as traffic congestion, air, noise, and security issues.

IMPACT OF VERTICAL QUALIFICATION MISMATCH ON ECONOMIC GROWTH

Author(s): Mariya Neycheva / Language(s): English Publication Year: 0

Recent increase of educational attainment of the population in the developed world entails both positive and negative effects on the economic development of today’s economies. One of the most serious consequences is the growing skill mismatch among tertiary education graduates. Generally speaking, the vertical qualification mismatch is defined as employment below the theoretical skill level acquired. With regard to higher education, it comprises university graduates with any occupation different from Managers, Professionals, Technicians and Associate professionals since according to the International Standard Classification of Occupations (ISCO-08) they require an academic degree. As the competition among graduates at the labor market tightens, the most qualified ones are expected to be hired at job positions corresponding most closely to the educational degree acquired. Therefore, it is reasonable to accept that the rate of qualification mismatch is an indicator of the quality of nation’s human capital. Table 1 presents data on the labor force with tertiary education (ISCED 5-8) in the 11th new EU member states from Central and Eastern Europe. The percentage has been continuously increasing, thus reaching on average 30% in 2016 compared to only 18% in 2000. In five countries – Czech Republic, Poland, Romania, Slovenia and Slovakia – the cumulative rise is around or above 100%. It is clearly visible that the rate of job mismatch was growing up parallel to the broadening share of graduates in the active population. At least a double-digit increase is observed in all countries except Estonia and Lithuania. This tendency is more clearly expressed in countries with a lower starting level of the most educated human resources such as Poland, Slovakia, Czech Republic, and Romania.

РИСКОВЕ И УСТОЙЧИВО РАЗВИТИЕ В ЧЕРНОМОРСКИЯ РЕГИОН

Author(s): Vladimir Kanev,Marusya Lyubcheva,Sabina Georgieva / Language(s): Bulgarian Publication Year: 0

The Black Sea Basin is a territory that is distributed between countries with different status and level of economic and social development, in which various historical, cultural and social transformations have been and continue to be realized, in which challenges and risks of a different nature are encountered. Today, although formally, the territory around the Black Sea is identified as the “Black Sea Region”. It is important for it to share the principles of sustainable development and to create models through which various risks are overcome – economic, social, natural, technological. The research is aimed at preventing natural and technological risks in coastal zones and the water area, as a prerequisite for sustainable development, associated with the constantly complicating technical and technological processes. The development proposes the use of specialized software for risk assessment and analysis and prevention management, the application of which creates a prospect for more secure social and economic development and sustainable growth.

Rola funduszy Unii Europejskiej w promowaniu zrównoważonego rozwoju

Author(s): Mateusz Dyrlica / Language(s): Polish Publication Year: 0

This chapter analyses the impact of European Union funds on achieving sustainable development goals. The EU budget, although it constitutes only 1% of the entire Union’s GNI, plays a key role in financing initiatives supporting sustainable development. This chapter presents the history of the EU’s sustainable development policy, with particular emphasison funds such as the European Regional Development Fund, the Cohesion Fund, and the European Social Fund+, including the latest initiatives, like the “Europe 2020” strategy andthe “Fit for 55” package, aimed directly at combating climate change and supporting thetransition to a sustainable economy. The analysis includes a critical review of both Polishand foreign literature, as well as source materials and statistical data from EU institutions, highlighting the importance of the EU budget policy in supporting sustainable development,particularly in relation to Poland within the financial perspective for 2021–2027.

Изследване връзката между инфлационните очаквания, ипотечното кредитиране и паричната политика на централната банка в условията на валутен борд

Author(s): Elena Stavrova / Language(s): Bulgarian Publication Year: 0

It is the goal of every central bank and government to keep prices stable. To this end, the object of its money supply management policy is to keep inflation—the rate at which the prices of goods and services change over time—always low, sustainable and predictable. The BNB's target is an inflation target of 2% in the medium term as a criterion from Maastricht and the upcoming adoption of the euro as the national currency. Additional limitations are the conditions of the currency board as a system that determines the possibilities of the central bank for interventions. Inflation as a process creates a sense of increased risk of loss of value, which leads citizens and economic agents to seek long-term sustainable investments. As a result, the demand for mortgage loans has increased. The level of inflation today can affect people's expectations of price developments in the future. If consumers and business owners form their policies with very low or very high inflation, they have an expectation that it will stay that way. These expectations are important. Citizens use them when making decisions about spending, borrowing and investing. Firms also take these expectations into account when pricing their goods and services. When these expectations move away from the central bank's inflation target, it becomes very difficult for it to direct real price dynamics in the economy back to this target. The central bank can contribute to avoiding the creation of such expectations by having a clear target and keeping inflation close to it, using, albeit limited, its influence in such conditions. To study the development of these important macroeconomic variables, the methods of econometric analysis based on time series were used for the dynamics of inflation expectations of citizens, inflation, the instruments used by the central bank for influence and the dynamics of mortgage loans granted to citizens.