A captive island: Kaliningrad between Moscow and the EU

Author(s): Jadwiga Rogoza,Agata Wierzbowska-Miazga,Iwona Wisniewska / Language(s): English / Publication Year: 2012

The Kaliningrad region can be called a 'captive island', because of its specific geopolitical location - it is part of the Russian legal, political and economic space, yet it is geographically separated from the rest of the Russian Federation, and it is particularly open to co-operation with its neighbours in the European Union. Moscow is trying to compensate the region for its separation, offering it financial support and economic privileges.At the same time, it is sensitive to any potential challenges to Russia's territorial integrity - and the centre's desire for control over the region often limits the latter's potential for cooperation and internal development. This report presents the situation in the region, and is intended to help develop a model for its effective regional co-operation with its EU neighbours.

A CASE STUDY ABOUT THE PERFORMANCE INDICATORS OF THE ROMANIAN CONSOLIDATED GENERAL BUDGET

Author(s): Liliana Manea,Ciprian GIJU / Language(s): English / Issue: 1/2019

The objective of this article is to develop an economic model quantifying for one of the main Romanian Consolidated General Budget performance indicators, the country risk. The analysis carried out over a 3 years period, and the data used had been reported, for the budget execution of this period. Through the study of the specialized literature and the analytical methods, a model of the Romanian country risk assessment developed, with the advantage of observational synthesis and the quantification of certain historical data, arising the possibility of forecasting, as well. The limitation of this analysis is about the allocations compared only at the level of the consolidated budget in relation to the state budget.

A centrum hitele: A magyar állam külső eladósodásának történetéről (Mong A.: Kádár hitele; Mihályi P.: A magyar gazdaság útja az adósságválságba)

Author(s): Márk Áron Éber / Language(s): Hungarian / Issue: 21/2014

A century of Polish economic policy

Author(s): Wojciech Morawski / Language(s): English / Issue: 3/2018

The economic policy of Polish governments changed but can be broadly divided into two groups. The first encompassed periods when Polish policy belonged to a widelyde defined world mainstream. The second - those when Polish governments attempted alternatives to the mainstream, looking for various ways of "taking a shortcut". In general, the first group helped economic development, the second hindered it, isolating the country from the world economy. The first group included the entire interwar period, when autarchic tendencies were mainstream, as well as the years 1944-1947 and 1989-2015.

A Classification of Polish Households Based on a Credit Portfolio and Debt Service Ratio

Author(s): Paulina Aniola-Mikolajczak / Language(s): English / Issue: 5/2016

The aim of this paper is to show the diversity of Polish households’ financial behavior in terms of debt as well as an identification of households that are characterized by a high debt to income ratio. The article also attempt to assess the debt to income ratio as a measure of households over-indebtedness. To achieve the main objective, the cluster analysis method was used. Based on the households credits portfolio and the level of debt to income ratio, 11 homogeneous groups of households were generated. Five of them were characterized by a high debt to income ratio (>30%), which classify them as overindebted.

A Comparative Analysis of Polish and Czech International New Ventures

Author(s): Lidia Danik,Izabela Kowalik,Petr Král / Language(s): English / Issue: 2/2016

The goal of this paper is to compare the characteristics of Polish and Czech companies which follow the Born Global internationalization model. More concretely, the analysis aims to discover the differences or similarities in terms of the internationalization paths of Polish and Czech SMEs in the characteristics of their managers in terms of the so-called "international vision" and in their innovativeness level. The introductory part of article provides a description of this internationalization model and the International New Ventures traits (INV) and summarizes the recent studies on this topic conducted in Poland and Czech Republic. In the empirical part, the International New Ventures from the two countries are compared. The Polish sample includes 105 companies which were surveyed with use of computer assisted telephone interviews in autumn 2014. For the Czech Republic, the sample consists of 54 small and medium-sized companies, which were surveyed using the computer assisted web interviews from November 2013 till January 2014. The surveyed companies in both countries fulfilled the definition of Born Globals. Descriptive statistics, cross-tabulation analysis and non-parametric tests are applied to accomplish the goals of the paper.

A comparative analysis of research – development and innovation activities in Romania

Author(s): Laura Asandului,Livia Baciu / Language(s): English / Issue: Spec/2010

When adopting the recommendations of the Lisbon Agenda or Strategy, the European states have decided that in order to make the European Union a space of competitiveness and greater social cohesion and a model of sustainable economic growth, research-development and innovation (RDI) must become the main pillar of the member states common policies. Consequently, the European Council recommended more investment in research and development, setting the collective EU target of raising research investment to 3% of the GDP, namely 1% from public funds and 2% from private sector. The current economic and financial crisis and the pressure it poses on resources, public or private, ]has limited to some extent the achievement of these objectives. The investments might not increase as anticipated or they might even decrease. However, several states have understood that, in times of crisis, the investment in research and innovation might bring tremendous gains in terms of new technologies, human capital and knowledge or, in other words, gains in economic competitiveness. This paper aims at providing a comparative analysis of the Romanian situation using the statistical indicators of the knowledge economy, those related to RDI financing and also to RDI results for the short period of time when financing has increased as a result of applying the objectives set out by the Lisbon Strategy. We underline the fact that without financing there is no research and innovation and without policies to support RDI the delays in development cannot be recovered. The final part of the paper provides several recommendations aiming at improving the RDI policies in Romania in accordance with post-2010 Lisbon Strategy.

A Comparative Analysis of Sustainable Development in Romania and Moldova from an Institutionalist Perspective

Author(s): Andreea-Oana Iacobu?a,Rodica PERCIUN / Language(s): English / Issue: 11/2017

This paper takes an institutional perspective and puts forward the idea that ensuring sustainability, in all its three dimensions – economic, social and ecological, mainly depends on the rules of the game that guide human behavior. In other words, it is the right mix of formal (such as, well-defined and enforced property rights) and informal (for example, norms of reciprocity of trust, involvement, tolerance etc.) institutions that provides proper incentives for the individuals to take responsibility rather than make compromises for fear of being sanctioned. Using indicators on sustainable development and the quality of institutional framework, the paper provides a comparative analysis of Romanian and Moldova regarding these issues and discusses the potential of Romania and Moldova to reach sustainability.

A Comparative Analysis of the Ukraine Crisis Through the Prisms of Offensive Realism and Liberal Internationalism

Author(s): Eray Alim / Language(s): English / Issue: 1/2019

In this article, the Ukraine crisis will be analyzed through the prisms of two different International Relations (IR) theories, namely Offensive Realism and Liberal Internationalism. While presenting relevant theoretical discussions, this work will specifically focus on two IR experts, John J. Mearsheimer and John G. Ikenberry, whose names have been associated with these theories. By drawing on the works of Mearsheimer and Ikenberry’s for Offensive Realism and Liberal Internationalism respectively, this work will try to make sense of the developments surrounding the Ukraine crisis, while also exploring the explanatory capacities of these two theories through a comparative approach. The insights offered by these theories in explaining Russia’s actions and Ukraine’s motivation during the crisis will be put to test. In addition, with a focus on the West, this work also aims to offer perspectives through the prisms of these theories on ways to end the Ukraine crisis.

A Diagnosis of Polish Start-Ups

Author(s): Patrycja Marzec,Agnieszka Sitko-Lutek / Language(s): English / Issue: 3/2017

The paper analyses Polish start-ups operating on the market. In addition, it compares international trends, as well as ecosystems of innovative Polish start-ups. Particular attention was devoted to a meagre but ever-expanding market of start-ups in the Lublin Voivodeship. Clusters in the Lublin region, which constitute the main driving force behind the establishment of start-ups and support for young entrepreneurs in the region, were also discussed.

A Different Country. Russia’s Economic Resurgence

Author(s): Lucio Vinhas de Souza / Language(s): English / Publication Year: 2008

Russia is now once again one of the ten largest economies in the world (representing around 70% of Germany’s GDP in purchasing power parity in 2007). In addition, Russia is the third largest trading partner of the EU, the fourth largest trade partner of the eurozone and an essential energy supplier to the EU. This recovery makes Russia an economic – and political – actor that cannot be ignored. In this authoritative new book, Lúcio Vinhas de Souza, desk officer for Russia in the Directorate–General for Economic and Financial Affairs of the European Commission, reviews the country’s evolving macroeconomic performance and structural policy framework, from the difficult days of the recession in the early transition period and the 1998 crisis to Russia’s sustained and robust growth since 1999. He outlines the remaining reform priorities in Russia and concludes with pragmatic policy recommendations for the reform agenda.

A Disequilibrium Model for Lei-Denominated Non-Governmental Credit in Romania

Author(s): Cristian-Florin Dananau / Language(s): English / Issue: 07/2015

We empirically investigate through an econometric approach the Romanian credit market, namely the lei-denominated part of it, and the factors that interact with it. The main goal is to assess whether a credit crunch occurred in Romania during the economic crisis. To this end we employ the disequilibrium model framework, set up in economic literature some 40 years ago. Our investigation takes into consideration the main macroeconomic determinants of this market, that interact with demand and supply. Our approach has in view the macroeconomic variables such as output, interest rates and foreign currency credit. The demand and supply function are estimated through the maximization of a certain maximum likelihood function. The final conclusion is that, based on the estimated model, one cannot detect a credit crunch in the after-crisis period. This paper’s results show that empirically-constructed disequilibrium models can be used to properly describe the behavior of the lei-denominated credit market, by taking necessary precautions.

A Dynamic Approach to a Comparative Evaluation of Financial Performance of Sections and Sectors of the Polish Economy

Author(s): Wanda Skoczylas,Barbara Batóg / Language(s): English / Issue: 343/2019

Financial performance of companies and their groups is of major interest to all stakeholders. As a result, they assess categories such as profitability, financial liquidity, financial independence, and risk. Separate analyses carried out for each of those elements alone do not always deliver conclusive findings, which is where synthetic methods are helpful. A ranking based on the taxonomic measure of development is one of such methods. The aim of the paper is, firstly, to present opportunities for using a dynamic version of the taxonomic measure of development in a comparative and complex assessment of financial performance in PKD divisions (Polish Classification of Activity), and, secondly, to evaluate changes in this area in the years 2014–2016. The data used for developing the ranking were sourced from the joint publication of industry indicators by the Financial Analysis Commission at the Research Council of the Accountants Association in Poland and InfoCredit, and from the Statistics Poland.

A fair tax (system) or an ethical taxpayer?

Author(s): Tamás Bánfi / Language(s): English / Issue: s1/2015

An interpretation of fairness based on the equal sacrifice principle is not clear; three taxation rules can be derived from it. Instead of searching for a fair tax system, ethical behavior of the taxpayer should be expected and set as a target. Ethical taxation can be encouraged and the propensity to pay taxes could be reinforced by abolishing the secrecy of individual and family tax returns, setting restrictions on cash operations which are associated with corruption, and gradually eliminating tax havens and offshore areas.

A Financial Analysis of the Liquidity Creation and the Capital Holdings of Turkish Banks

Author(s): Gamze Ozturk Danisman / Language(s): English / Issue: 3/2018

In this paper, the impact of the amount of bank capital on the bank liquidity creation is explored using a sample of 21 Turkish banks and quarterly data for the period 2010Q1- 2017Q4. Our methodology involves fixed effects panel data estimation techniques and we use lagged independent variables to control for endogeneity. Our findings indicate that the liquidity creation of Turkish banks has dramatically increased over time and it is primarily driven by large banks. Our results from the regression analysis indicate that bank liquidity creation is increased under higher levels of capital for the whole sample. While a higher level of bank capital increases bank liquidity for small banks, the opposite case occurs for large banks, namely, the created liquidity decreases by more bank capital. We offer some important policy implications in that while regulators in the emerging markets impose capital requirements on banks, they need to consider the impact on liquidity creation of banks of different sizes.

A Framework for the Evaluation of the Feasibility of Public – Private Partnership in Local Government in Serbia

Author(s): Sladana Benkovic,Nemanja Milanovic,Milos Milosavljevic / Language(s): English / Issue: 4/2017

The adoption of the New Law for Local Government Financing is currently underway in a Serbian Parliament procedure. The goal of the new law is the creation of clear government regulations which will define the system of financing for local government entities. This will furthermore create an environment of stability and predictability with regard to revenue planning when preparing local government entities’ budgets, as well as achieving a vertical balance when distributing revenues amongst various state levels. Additionally, these goals are reflected in the establishment of a system to increase the share of public investment in the total expenses of counties and cities, as well as in the vertical balance with regard to the distribution of revenue and jurisdiction at various state levels. In that sense, it is preferable to understand financial models such as public-private partnerships, which have still not, to an adequate degree, been adopted in Serbia, but one which could potentially contribute to the introduction of additional sources of local government financing. In order to better perceive the current capacities of this model of financing local government in Serbia, a study was conducted during the spring and summer of 2016, taking into account a sample of 150 examinees. The results of the study indicate very low human resource and technical capacities in local government with regard to realizing and comprehending the concept of public-private partnership.

A fuzzy multi-criteria decision making methodology based upon the interval Type-2 fuzzy sets for evaluating renewable energy alternatives in Turkey

Author(s): Abit Balin,Hayri Baraçli / Language(s): English / Issue: 5/2017

Energy is substantial for social development and has an essential role for the survival and development of human as an environmental factor. Due to the serious increase ofthe world's primary energy price and rapid development of Turkey's economy, energy consumption of Turkey has become a major problem. For that purpose, opinions of the decision makers upon the relative importance of selection criteria are determined by using a fuzzy AHP procedure based upon type-2 fuzzy sets, and fuzzy multi-criteria decision-making based upon the interval type-2 TOPSIS method is used to rank the best renewable alternative energy. In this paper, a fuzzy multi criteria decision making (MCDM) methodology was proposed to determine the best renewable energy alternatives for Turkey, because type-2 fuzzy sets provide additional degrees of independence to represent the uncertainty and the fuzziness of real world applications. The results showed that wind was the best alternative for Turkey's energy investments, as being followed subsequently by solar, biomass, geothermal, hydraulic and hydrogen. The results were based upon the opinions of three energy planning experts who ranked the energy alternatives according to the ten criteria we have selected.

A GENERALIZED EXPONENTIAL TYPE ESTIMATOR OF POPULATION MEAN IN THE PRESENCE OF NON-RESPONSE

Author(s): Siraj Muneer,Javid Shabbir,Alamgir Khalil / Language(s): English / Issue: 2/2018

In this article, we propose a class of generalized exponential type estimators to estimate the finite population mean by using two auxiliary variables under non-response in simple random sampling. The proposed estimator under non-response in different situations has been studied and gives minimum mean square error as compared to all other considered estimators. Usual exponential ratio type estimator, exponential product type estimator and many more estimators are also identified from the proposed estimator. We use three real data sets to obtain the efficiencies of estimators.

A GENERALIZED RANDOMIZED RESPONSE MODEL

Author(s): Housila P. Singh,Gorey Swarangi M. / Language(s): English / Issue: 4/2017

In this paper we have suggested a generalized version of the Gjestvang and Singh (2006) model and have studied its properties. We have shown that the randomized response models due to Warner (1965), Mangat and Singh (1990), Mangat (1994) and Gjestvang and Singh (2006) are members of the proposed RR model. The conditions are obtained in which the suggested RR model is more efficient than the Warner (1965) model, Mangat and Singh (1990) model and Mangat (1994) model and Gjestvang and Singh (2006) model. A numerical illustration is given in support of the present study.

A geography graduate's transition into the labour market in Poland:a quantitative and qualitative evaluation of the process

Author(s): Danuta Piróg / Language(s): English / Issue: 29/2015

Transition, i.e. the education-to-work shift, is considered one of the most important processes in human life. The characteristics of transition hinge on, first of all, the labour market situation, the economic climate in the region, the educational services market and the aspirations of society. Virtually unlimited access to education at an academic level and the growing appetite of young people for degrees have resulted in a rapid increase in the number of university graduates. Consequently, there has been a high supply of employees with university degrees. However, the speed and type of transition among recent graduates is one of the least investigated processes on the labour market in Poland. The article presents the results of a survey on how Polish geographers enter the job market. The study compares geographers' professional qualifications, aspirations and plans about their future job at the time of graduation with the actual fulfilment of those plans six months later. Quantitative analysis of the process shows that half the graduates have succeeded in finding employment. Qualitative analysis of the type of jobs shows that the university-to-work transition was unsatisfactory in many respects. For example, the new position was unlikely to require the graduates to use the competences acquired during the course of study, the job offered limited career development opportunities and had a low remuneration. All the above raise concerns regarding the limited opportunity for successful transition and the respondents' low satisfaction level.