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Supporting Ecological Innovation as a Factor for Economic Development

Abstract

The paper deals with the evaluation of the ecological innovation as a factor for economic development through the correlation and regression analysis. The paper.analysis the.total ecological.innovation index of Slovakia within the.European Union and in relationship to growth GDP of Slovakia. Correlation and. regression analysis. examines the interdependence between.total ecological innovation index and economic growth. GDP is one of the key elements of effective support for eco-innovation.

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Technological competitiveness of the EU member states in the era of the fourth industrial revolution

Abstract

The aim of this paper is to investigate the implications of the fourth industrial revolution for technological competitiveness, its definition and measurement methods. An empirical part is aimed at identifying comparative advantages of the European Union in digital technologies. Recently new approaches have appeared to measure digital competitiveness, however they use a broad definition of competitiveness that encompasses not only technological factors but also the macroeconomic and institutional environment (IMD, 2017; WEF, 2018). There is still a limited number of studies focused on the technological dimension of competitiveness in digital technologies. This paper fills the gap by developing a conceptual framework based on patent indicators, i.e. Patent Share and Revealed Technological Advantage indices. It allows a consistent analysis of the comparative advantages of the EU member states in digital technologies to be conducted. The results confirm a huge diversity within the EU in terms of digital technologies, their global impact and comparative advantages.

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Technological Environment as a Factor of Development for Enterprises Providing Accommodation Services

Summary

Subject and purpose of work: The objective of this article was to present opinions of owners of all-year-round accommodation facilities operating within the area of the Lublin Voivodeship with regards to the meaning and manner of impacting on the development of enterprises by technological environment factors.

Materials and methods: In April and May of 2018 field research was realized by means of CAT method within the area of Lublin Voivodeship. The research covered 110 economic entities.

Results: The most numerous group of research participants - more than 80% considered the development of Internet as a rather contributing or definitely contributing to the growth of their economic entities. More than 60% of research participants noted that growth of computer systems, video and mobile telephones as well as development of transportation networks rather contributed to or definitely contributed to better functioning of accommodation facilities in the area of the Lublin Voivodeship.

Conclusions: Vast majority of entrepreneurs considered factors of technological environment, specified during research as contributing and definitely contributing to the development of Lublin accommodation facilities. The impact of Internet seems especially important. The type of commune does not differentiate in any statistically significant manner the entrepreneurs’ assesment regarding the impact related to the factors of technological environment on the growth of their companies.

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Ten Years Later: Lessons for DSGE Builders and Czech Policy Makers

Abstract

We show an example of a small open economy – the Czech Republic – where the fiscal restriction was put in place between 2010 and 2013 in a negative output gap and zero lower bound on nominal interest rates. According to our results, such fiscal policy seems to have been mistaken, as the restriction may apparently have caused a second recession in the Czech Republic in 2012/2013 (after the global recession in 2008/2009). Instead of the dynamic stochastic general equilibrium approach (DSGE), we applied a tractable static deterministic partial equilibrium approach using the IS-LM framework. We derived mathematically from the IS-LM model that expansionary fiscal policy acting via higher government investment can be an appropriate tool for reacting to a crisis in the very short run when interest rates hit the zero lower bound. Expansionary fiscal policy after the 2008/2009 crisis would probably have led to faster stabilisation of the Czech economy. We simulate a potential increase in government investment of 8% yearly between 2011 and 2013. This would have added 0.4 pp to GDP growth and increased the inflation rate by about 0.5 pp. Hence, the inflation outlook in 2013 would not have been negative and would consequently have led to less pressure for monetary policy expansion using unconventional interventions against the Czech koruna.

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Transfer Prices and Aggressive Tax Optimization

Summary

Subject and purpose of work: The subject of this study is transfer prices and their use for optimization of financial burdens of international companies (capital groups). The purpose of this study was to present transfer pricing issues in the light of applicable law and using them for tax purposes.

Materials and methods: The study uses literature and data from the World Bank and Google. Methods of descriptive and tabular analysis and inference were used.

Results: Google makes 91% of its revenues outside the US.

Conclusions: Transfer pricing is a tool for optimizing tax burden of international companies that bring them benefits in the form of the so-called “globalization annuity”, which makes them economically stronger and more technologically competitive. Polish tax law on transfer pricing has been tightened since 2001; transfer pricing issues are also regulated by the European Union and the Organization for Economic Cooperation and Development (OECD).

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Transparency in Public Procurement – the Case of Slovenia

Abstract

Public procurement is one of the key points of contact between public administration and the economy, while the amount of public resources is a possible source of conflict of interest and corruption. The article aims to contribute to improvements in public procurement legislation and practice. The article examines the practice of supervisory bodies and assesses the frequency of violations of the principle of transparency. The main findings of the article are that over the years of application of the Public Procurement Act in versions ZJN-2 and ZJN-3, the number of violations of the basic principle of transparency increased – the most frequent violations concerning discriminatory criteria set by the contracting authorities and their implementation in the selection phase – and that local municipal bodies violated the principle of transparency more often than state bodies.

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The Unemployment of Highly Educated People in Romania. A Panel VAR Approach

Abstract

The insertion of graduates of higher education on the labor market is one of the problems faced by the Romanian labor market. Based on a VAR model in the panel, the number of unemployed with higher education in Romania is explained in correlation with variables related to the educational environment. As the number of graduates, the number of teaching staff and the number of faculties increase the unemployment rate among people with higher education also increases slightly, showing that they have not immediately integrated into the labor market. A shock (an innovation) in the series of unemployed numbers results in an increase in the number of unemployed and a long-term stabilization of the influence to positive values. A shock to the data series on the number of graduates, the number of faculties and teaching staff does not have an immediate effect on the number of unemployed with higher education.

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The Use of Municipal Bonds in Financing Regional Economic Development in Poland

Summary

Subject and purpose of work: The article presents an analysis of the use of municipal bonds in financing the development activities of local governments in Poland.

Materials and methods: The study uses data from the Ministry of Finance, the European Central Bank, the Central Statistical Office and the CATALYST platform.

Results: The results of the research show that the level of using bonds by local governments in Poland is lower than the EU average. Poland’s accession to the EU and the inflow of structural funds significantly increased local governments’ interest in the implementation of bonds to fund investments, especially in 2008-2010.

Conclusions: A significant part of funds from the issues of municipal bonds was allocated to regional development projects, mainly infrastructure. In 2008-2012 the value of newly issued municipal bonds increased, however, after that the number and value of new issues significantly decreased.

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Use of TOPSIS Method for Assessing of Good Governance in European Union Countries

Abstract

Good Governance presents the contemporary trend of managing public affairs worldwide. This concept is promoting the basic elements of subsidiarity, participation, and democracy in modern public administration. Presented article is focused on the evaluation of Good Governance development in the European Union countries in the long-term, in the period 2007–2017. The evaluation is based on the application of multiple criteria decision-making methods, concrete The Technique for Order Preference by Similarity to Ideal Solution. The original data used in the research were the values of Worldwide Governance Indicators monitored and processed by the World Bank. The article presents a complete assessment of European Union countries according to the level of Good Governance. There are identified countries that have been successful in this area in the long-term, in particular the Nordic countries - Finland, Sweden and Denmark. On the contrary, there are countries that show greater shortcomings in terms of Good Governance as Romania, Bulgaria or Greece. The European Union countries were also grouped into clusters and the overview of rankings of individual countries for the period 2007–2017 was completed.

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