In the time of accession to the EU, Hungary drops to the second part of the programming period 2000-2006. The Central-Hungarian region (which includes the capital and Pest County) was classified as a less developed region, similarly to all of the six ‚rural‘ regions and thus the area received the highest amount of the supporting sources. In the programming period 2007–2013, the Central-Hungarian region belonged to the transitional regions and so it received continuously decreasing subsidies. In the case of Budapest, the value of GDP per capita refers to the development, but based on the measurement, Pest County was supposed to belong to the transitional areas. Between the years 2014–2020, the whole area of the Central-Hungarian region was getting to the level of a developed region. It means that this area is not entitled to get Cohesion sources anymore. On the 30th of October 2015, Pest County Assembly made a decision about Pest County’s disruption and declared its intent to create a separated region. As long as the government stood for the idea and it met with a warm response in Brussels, Pest County could operate as an independent region from 2018. Our study will draw attention to the huge territorial differences between the capital and its agglomeration and the surrounding areas.
Gambling is an ancient human activity with a prevalent position nowadays both as a social entertainment activity and as a way to gain money effortless. Every country has its specific pattern in gambling determined both by its cultural and macroeconomic determinants and by its national regulatory framework. Macroeconomic variables as gross national income per capita, annual variation of GDP or unemployment were previously proved to be connected with the gambling industry. The aim of this paper is to analyze the effects generated by the internal and external loss of confidence in the Italian economy, as an effect of the latest financial crisis, over the Italian gambling industry. The level of spread between the 10 years yield of Italian and German government bonds is used as a proxy for the international trust in the Italian economy and the Economic Sentiment Indicator is used to describe the Italian citizens' confidence. The main results show a strong positive, statistically significant correlation between skill games and spread and an unexpected negative significant correlations between spread and lottery, one of the purely fortune games that was often seen as an ultimate chance to survive the crisis. The Economic Sentiment Indicator seems not to be correlated with any of the gambling categories.
Based on the method of Compensated Successful Efforts, this paper proposes a structural variables model to assess pre-REDD+ (Reducing Emission from Deforestation and Degradation plus) policies; selecting economic development, population growth, initial forest area, agricultural commodity export prices, and timber prices as structural variables, and empirically analyzes 11 high-forest-growth countries’ policies from 1992 to 2011. Results show that the forest area growth rate was negatively correlated with the initial forest area and agricultural commodities export prices, and positively correlated with population density, GDP per capita, and timber export prices. China and India’s entity fixed effects are more significant; in different periods the rate of actual forest area growth exceeded that of structural forest area growth in 11 countries. Overall, Compensated Successful Efforts proved to be useful for evaluating the effects of the high forest area growth country policies. Regardless, these countries should join REDD+ organizations and continue enhancing their forest management and increasing forest area. As part of this effort, REDD+ negotiations should consider fully compensation mechanisms for these countries to attract more countries and promote the progress of international climate negotiations.
This study investigates the determinants of patent protection regimes with the use of the self-organizing map (SOM) method. Unlike any previous attempts in the existing literature, this paper takes into consideration the lack of analytical techniques in the past and tries to demonstrate a potential relationship between the patent protection and its determinants through the employment of a newer, more consistent method. The study consists of two main parts. Firstly, the patent protection strengths of 111 countries have been classified via a SOM-based model and it turns out that three types of clusters can be found around the world; low-, mid- and high-protection. The results also show that the densities of these clusters have dramatically changed in the post-1980 period. In the second part of the study, the determinants of the patent rights are examined for 49 developed and developing countries. After revisiting the older econometric models with recent data, this study also analyses the determinants with the SOM method. The findings suggest that there is a significant relationship between GDP per capita, human capital, R&D, market freedom, political rights and patent protection for about two-thirds of the sample; which implies that the patent policies of these countries are in accordance with the selected economic and social factors.
Regional competitiveness is considered to be an alternative basis for the determination of regional interventions. However, the composite competitiveness indicator is quite sensitive to the weights of sub-indicators, no matter what methodology is being used. To avoid this uncertainty in the determination of regional interventions, we proposed a new non-compensatory resonance approach that is focused on the hierarchical coincidence between weaknesses of NUTS 1 and NUTS 2 regions measuring the extensive and intensive components of competitiveness. Such a coincidence, being perceived as a resonance effect, is supposed to increase the effectiveness of interventions triggering synergetic effects and stirring up local regional potentials. The components of competitiveness are obtained through synthesising DEA methodology and Hellwig’s index, correspondingly focusing on the measurement of technical efficiency and resource level. In analysing Ukrainian regions, no correlation between resonance interventions and the composite competitiveness indicator or GDP per capita was found, pointing toward a completely different direction in resonance approach. In western Ukraine, the congestion of six NUTS 2 regions was defined as a homogeneous area of analogous resonance interventions focused on improving business efficiency.
The existing studies on private savings have mostly investigated the long run and short association of different variables with private savings, whereas no known study has investigated both long run and short run causality of variables against private savings by using data of Pakistan. The current study used time series data of Pakistan over the period of 1972 to 2012 and employed long run cointegration test, first normalized equation for long run association, vector error correction model for short run association, Toda Yamamoto technique for long run causality and Granger causality test for short run causality. The results suggest that GDP per capita, inflation rate, financial development, dependency ratio and fiscal development have impact on the private savings rate in Pakistan. The findings of the current study can be used to increase the private savings’ rate. In the long run government can increase the private savings by controlling fiscal deficit and promoting the investment by private investors. Whereas, in the short run, government can increase the deposit rate to increase the private savings. The current study is unique in its nature as it simultaneously provides the long run and short run causality and association and can contribute significantly in improving savings rate in developing economies like Pakistan.
Financial Inclusion plays an important role in terms of economic growth and poverty reduction owing to inequality, therefore, it is a key aspect of public policy in many governments. This study explores those variables that influence financial inclusion in some Latin American countries, through the use of the panel data econometric technique, based on information provided by the World Bank's Global Findex, and the Statistical Yearbook of the World Bank. ECLAC (Economic Commission for Latin America), during the period between 2007 and 2015. The sample includes 7 countries, namely, Argentina, Brazil, Chile, Colombia, Ecuador, Mexico and Peru. The results indicate that financial inclusion has a positive and significant relationship with the value of GDP per capita, such that the greater the income level which families have, the greater will be the participation in the financial system, and consequently, the greater the degree of financial inclusion. On the other hand, the variable public debt, shows that a high level of indebtedness hinders financial inclusion, therefore, its relationship is negative.
The present study investigates the country-specific determinants of intra-industry trade between Poland and its European Union trading partners in agricultural and food products during the time period 2002-2011. An econometric model for panel data is applied for the analysis of the factors determining Polish bilateral intra-industry trade with European Union countries. The research leads to the formulation of a statement that the intensity of intra-industry trade in agricultural and food products is positively influenced by the intensity of trade with EU countries and the level of economic development of the member countries (as measured by the size of their GDP per capita). Increase in intra-trade turnover is also facilitated by EU membership and by the fact that Poland’s trade partners use similar Slavic-based languages. Relative differences in the size of the economies and relative differences in Poland’s and its trading partners’ levels of economic development have a negative impact. The degree of the imbalance of trade turnover between trading partners also negatively influences the intensity of intra-trade exchange. The research confirms that the impact of all of the identified factors determining intra-industry trade is consistent with the predictions of the theory.
Mykolas Navickas, Vytautas Juščius and Valentinas Navickas
In this article the relationship between shadow economy and its’ determinants has been examined. Ten Eastern countries from European Union were chosen due to specific particularities, which may cause higher shadow economy levels in the investigated countries compared with the EU average. Time span of 2003-2016 was selected, as 2017 data has yet to be released at the time of the analysis. Article consists of examination of the current situation and shadow economy trends in Eastern European countries; overview of shadow economy scientific literature followed by hypothesis, which are examined by constructing regression models. Models aim to distinguish the relationship between selected determinants and shadow economy size. Scientific literature analysis revealed that increase of tax burden on labor is seen as a primary reason for the increase of shadow economy, however, such relation has not been identified. Furthermore, results show that unemployment and self-employed people ratio affect shadow economy insignificantly. This suggests that further analysis is needed. Nonetheless, regression model has not rejected the hypotheses of corruption level, income inequality, business freedom and GDP per capita effect on shadow economy. Thus, it can be stated that these variables are determinants of shadow economy in Eastern European countries.
Šárka Laboutková, Pavla Bednářová and Vladimíra Hovorková Valentová
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