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ECONOMICS
Innovative and Economic Research Journal
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The determinants of local public spending on culture

1 Introduction Many factors explain public sector support for culture. Cultural activity creates positive external effects for future generation. Some cultural goods have public goods characteristic (e.g. historic monuments). The cultural activity of individuals and societies create human and social capital. This activity increases the well-being of people and takes also an important part in the local and regional development ( Bille 2006 ; McGuigan 1996 ; Rushton 2004 ; Karwińska 2015 ; Poprawski 2016 ). These last arguments for public support for

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Poland’s Economic Performance in Global and Long-term Perspective: Surprises so far and Risks in the Years Ahead

Schumpeter argued that capitalism would give way to socialism. Although their arguments were quite different, they rested on assumptions concerning the innovation process and its effects. Innovations have been largely labour saving, as Marx assumed, but, contrary to his expectations, they have not caused the increasing and eventually massive unemployment which was supposed to lead to a super- economic crisis and, eventually, to the overthrow of the capitalist system… Marx clearly underestimated, or simply overlooked, the positive effect of innovations on (average) wage

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Sovereign default and the structure of private external debt

The literature on sovereign default is abundant and uniformly admits that since the government cannot be forced to repay its debts, the explanation of why in spite of this it usually honors its obligations, is not straightforward. The literature that aims to explain this phenomenon points to several factors that affect the probability of sovereign default. A thorough summary of the literature on sovereign default can be found for example in Panizza et al ., (2009); hence, we provide below just a very brief recapitulation of the main arguments, pointing to the

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Dynamic Fiscal Solvency with Consumption and Capital Taxes

presented a number of arguments for differential taxation, we are still far from fully understanding what the main determinants of the direct to indirect tax mix are ( Martinez-Vazquez, Vulovic and Liu 2011 , 38). So far, however, the main focus of the literature has been put on the effects of the structures composed of labour and consumption taxes, and on a possibility to substitute one for another in order to increase welfare. Yet, to be efficient, an increase in the labour tax requires a low elasticity of labour income and remains unpopular for social and political

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Leasing Puzzle in Polish Small Firms Listed on the Alternative Market

inclusion of a tax shield may be higher than in the case of leasing Source: Own elaboration. Using leasing does not block enterprises from using loans, as it does not lower their creditworthiness. All payments related with leasing may be deducted from taxable profits, thus reducing the tax income. The argument in favour of choosing leasing as a financing form are higher tax benefits than in the case of bank loans, especially considering the possibility to recognise a part of capital instalment of operational leasing in tax deductible costs ( Infor

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On the Relation Between Health and Income: A Cross-Country Analysis

needed to link these concepts in a growth theory. Indeed, there are many channels through which health can positively influence the income of an individual. The very term of human capital is used to represent the stock of skills, education, various competencies and health ( Becker 1964 ). School and health have become important in what we call demographic transformation , thanks to two Scheffler (2004) also introduces a third argument. He holds that the adult education of women reduces the cost of making the population healthy. In his opinion, education of females

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Empowerment Rights and Happiness Gap in Post-socialist Countries

the relations between individuals or groups that are similar to each other (bonding capital) and relations between entities that are different (bridging capital) ( Helliwell, Layard, Sachs, 2012 ). Empowerment rights strengthen both bonding and bridging capital by securing the legal position end ensuring equal treatment of all individuals in the community and thus increasing the overall level of trust in the society. As a result, they contribute to the increase of the subjective well-being of the inhabitants of the county. Another argumentation in favour of the

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Post-socialist Myanmar and the East Asian Development Model

foundation for economic policy and explains the involvement of protectionist mechanisms aimed at shielding the national economy from unwanted penetration by foreign business entities. It is about creating a specific cocoon in which the local business sector develops without the need to compete with foreign enterprises. Naturally, the above argument can be reversed, suggesting that the lack of competition from foreign entities causes delays in the modernisation and development of local companies. State interventionism thus generates numerous market entry barriers. The

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Double Jeopardy: How Refugees Fare in One European Labor Market

strong insider–outsider divide. The question of how existing social rights and protections can be balanced with the goal of integrating refugees into the labor market thus presents itself with particular saliency in Belgium. The remainder of this paper unfolds as follows. In Section 2 , we begin with a short review of the main theoretical arguments and the available empirical evidence on refugee labor market integration. In Section 3 , we describe the Belgian setting, by contextualizing asylum migration in relation to other forms of migration flows in Belgium. In

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