The paper aims to develop our understanding of the processes and mechanisms leading to economic instability. The research design and methods: the paper employs a simple game-theoretic model aimed at depicting why the mechanism connecting nonmaterial motivation of managers and the propensity of economic systems is unstable. The findings are as follows: managers, driven by the nonmaterial value of work, choose strategies that maximize the likelihood of prolonging their employment. Shortsighted CEOs may prefer strategies that offer smooth returns and an unlikely “catastrophic event.” If the unification of strategies occurs, the situation leads to a crisis and recession in the long run. The model put forth in this paper is shown to resemble the mechanism of the 2007-2008 financial crisis.
In our paper a very simple model is used to analyze the relationship between trade globalization, inequality and economic policy. Although the local government exclusively maximizes the welfare of the marginalized (unemployed) people, the inequality of relative consumption between employed and unemployed will increase with intensified trade liberalization. In contrast to this result the relative income inequality may fall in certain situations.
The aim of the paper is to provide further insights into the mechanisms contributing to the integration of immigrants in higher education. Recent immigration waves into Europe place pressure on European communities; However, mass immigration is only expected to increase. The immigrants’ influence on their host countries depends on their economic performance and how well they adapt. In this regard education serves as a key component towards successful integration. As European higher education transforms the influence of these reforms on the participation rates of immigrants is of relevance. A comparison between the participation rates of immigrants following the Europeanization of the Scandinavian higher education system provides interesting insights to these issues.
The German unification in 1990 generated many benefits, but also many disappointments. After the introduction of the monetary union between the GDR and West Germany on 1 July 1990, the East German industry collapsed, and mass unemployment became persistent. Ever since the modalities of the monetary union have been discussed controversially. This paper reconstructs the decision-making processes and negotiations towards monetary union. To a high extent, this reconstruction is based on original documents. Early on in Bonn a consensus was reached that monetary union had to be introduced soon, the rapid decline of the GDR making stepwise approaches impossible. Many officials were aware of the detrimental effects of a 1:1 conversion of the wages. But few dared to go against the widespread demands for 1:1 in the GDR population and government, not the least because of over-optimistic promises before the elections in the GDR in March 1990.
The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an entrepreneur insolvency. The impact of sanctions on transaction costs, including their identification and types, as well as the impact on the protection of creditor rights, has been poorly recognized in the subject literature to date. This article investigates the theory of transaction costs and property rights by providing an identification and description of formal negative sanctions, as well as their impact on counteracting the appropriation of creditors’ rights in bankruptcy proceedings. These studies are part of the discussion on the role of formalized negative sanctions, in terms of enforcing behaviours expected by the legislator.
This paper analyzes the differences between strategic trade and the competitionm policies (in the form of inward Foreign Direct Investment) to regulate a unionized monopoly in the domestic country. With decentralized negotiations both policies reduce labour and product market distortions. However the fixed cost for the foreign entrant and the degree of product differentiation determine which policy should be implemented to maximize national welfare, and the cases in which the domestic government can intervene, to achieve a Pareto-improvement.
At present, under the conditions of some turbulent changes observed in our environment, micro-enterprises seek for opportunities to win their competitive positions in the market and in the sectors in which they operate The aim of the article is to present marketing and logistics management as one of the methods applied to achieve the market objectives of micro-enterprises. As an integrated method, marketing and logistics management may contribute to the improvement in competitiveness; hence, the recognition of conditions required for the application of this method may also contribute to the improvement in competitiveness. In the article, a review of literature related to the discussed problems is presented. The expert literature on the analysed subject does not provide any publications on micro-enterprise management, and scientific research in that sector is very scarce and provides only some general data. Therefore, it is necessary to analyse the processes taking place in the micro-enterprise sector in more detail, especially in the field of modern methods of management. In the article, some considerations on the specificity of integrated logistics and marketing processes are presented. Research methods: a review of expert literature and the Author’s own case-study research. The research was carried out in the years 2015-2018 among a group of micro-enterprises in the Kujawsko-Pomorskie Province, Łódzkie Province, Mazowieckie Province and Wielkopolskie Province. The aim of the research was to identify conditions required for marketing and logistics management in micro-enterprises and to define the impact exerted by the factors that determine the implementation of that process. Recognising knowledge as a fundamental determinant of the implementation of modern management methods in the aspect of micro-enterprise operation requires some in-depth analysis. The article presents the results of the research based on the case-study of integrated marketing and logistics management, on the example of a virtual micro-enterprise. The main conclusions: In a virtual micro-enterprise, it is possible to indicate the field of integration of marketing and logistics processes and to define their courses and conditions. Knowledge of logistics and marketing allows us to extend the field referring to the environment of the analysed company in virtual space.
The aim of the article is to identify the main determinants of categories ascribed to scientific research units in the field of Economic Sciences in 2017. In the first part of the article, the legal and substantive basis for the evaluation of such institutions is presented. The second part of the text provides a verification of the evaluation assumptions included in the legal regulations (their advisability and significance). The verification is based on the statistical analysis of the obtained results. There are only two criteria out of four that determine the ascribed scientific categories: the first criterion refers to scientific achievements (publications) and the second one refers to scientific potential (scientific promotion and academic staff mobility). The other criteria - the third one (commercialisation of the research) and the fourth one (impact of the research exerted on economy and its internationalisation) did not affect the comprehensive evaluation in any significant way. The number of registered academic employees was not of any significance either.
The European Union (EU) and International Maritime Organisation (IMO) strongly feel the need for initiating measures to reduce greenhouse gas (GHG) emissions from international shipping lines regionally and globally using a package of tools called Green Shipping Practices (GSP). The GSP includes the use of global market-based mechanisms (MBMs), adoption of the energy efficiency design index (EEDI), establishing compulsory energy efficiency standards for all new ships, and the ship energy efficiency management plan (SEEMP) recommended as a new management tool for ship owners. Furthermore, the European Commission (EC) has proposed that owners of large ships using EU ports should report their verified emissions (Monitoring, Reporting and Verification of Carbon dioxide (CO2) emissions (MRV)) from 2018. In addition, IMO has introduced collection and reporting of ship fuel consumption data (SFCD) under the IMO SFCD scheme based on similar conditions, but related to global shipping. By providing a holistic analysis of the above-mentioned tools with a special focus on MRV and SFCD, this paper presents their economical and operational implications on the maritime transport processes. The working hypothesis that there is a correlation between the introduction of MRV and SFCD tools and reduction of maritime transport anthropopresure has been proved.