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Alvija Sumskaite and Inga Juknyte-Petreikiene

Practice of Internationalisation of Higher Education and Its Counterparts in Lithuania . Kaunas: ISM. Beerkens, H. J. J. G. (2004). Global and institutional embeddedness: Higher education consortia in Europe and Southeast Asia. CHEPS [online]. Retrieved from http://www.utwente.nl/cheps/documenten/thesisbeerkens.pdf . Brodin, J. (2010). Education for Global Competencies. An EU-Canada Exchange Programme in Higher Education and Training. Journal of Studies in International Education, 14 (5), 569-584. Bucharest Communique. (2012). Retrieved from http

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Rita Remeikiene and Ligita Gaspareniene

References Aiello, F. & Pupo, V. (2012). Structural Funds and The Economic Divide in Italy. Journal of Policy Modeling, 34 (3), 403-418. Andrulevičiūtė, V. (2015, September 21). Will Lithuania survive without EU structural funds? Delfi News. Retrieved from http://en.delfi.lt/lithuania/economy/will-lithuania-survive-without-eu-structural-funds.d?id=67941614 Balzaravičienė, S., & Pilinkienė, V. (2012). Comparison and Review of Competitiveness Indexes: Towards the EU policy. Economics and Management, 17 (1), 103

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Piotr Wiśniewski, Tomasz Kamiński and Marcin Obroniecki

Abstract

The Central and Eastern European (CEE) capital markets (of Poland, Lithuania, Latvia, Estonia, the Czech Republic, Slovakia, Hungary, Ukraine and, to a limited extent, Belarus) are gradually evolving towards increased breadth (diversity) and depth (liquidity), however, they are still exposed to considerable cross-country volatility and interdependence spill-overs - especially in times of capital flight to more established asset classes (“safe havens”). Sovereign Wealth Funds (SWFs) have widely been censured for their undesirable political interference and chronic operational opacity. This paper demonstrates that in CEE, contrary to widespread perceptions attributable to developed markets, SWFs can act as natural and powerful risk mitigators (contributing to a more stable capital base and reduced systemic volatility). Such a proposition is premised on several factors specific to SWFs oriented to CEE. They comprise: strategic long-termism and patience in overcoming interim pricing deficiencies, commitments to elements of a broadly interpreted infrastructure, and absence of overt conflicts of interest with the CEE host economies. The paper, besides reviewing the utilitarianism of SWFs in the CEE’s risk mitigation context, highlights regulatory and technical barriers to more SWF funding for CEE. It also recommends policy measures to the CEE economies aimed at luring more host-friendly SWF investment into the region.

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Simona Sabou, Bianca Avram-Pop and Liliana Adela Zima

Abstract

The purpose of this study is to identify the behavior of customers in the online environment. We analyzed the evolution, characteristics, advantages and disadvantages of this type of commerce, and its implications on the consumers. In order to identify the customers’ behavior online, we selected three variables which are characterized by time intervals of the latest online order, and six variables which analyze the main problems faced by consumers of goods/services bought online (a long shipping time, damaged products, non-compliant products, fraud related issues, underperforming complaint system, technical issues, lack of customer and legal aspects). Online commerce is less developed in the Czech Republic, Romania, Poland, Lithuania, Ireland, Bulgaria, Estonia, Slovenia and Norway. But, the advantages of ecommerce weigh more for the consumer than the problems they face, for example: online shoppers will continue to make online purchases even if they have experienced delays in delivering goods/services, damaged products, online fraud, technical problems or difficulties in finding information about the warranty of goods/services.

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Marta Świerczyńska and Mariola Węglińska

. Beer, Ch., Ongena, S., Peter, M. (2010a). The Austrian Carry Trade: What Are The Characteristics of Households Borrowing in Foreign Currency? OeNB Financial Stability Report , no. 16. Beer, Ch., Ongena, S., Peter, M. (2010b). Borrowing in Foreign Currency: Austrian Households as Carry Traders. Journal of Banking & Finance, 34 (2010), 2198-2211. Board Decision Dated 20 of Jan. 2009 Regarding Granting a Medium Term Financial Help for Lithuania, EU Official Journal, 2009/290/WE. Brief Outline of the Regulation Concerning FX Lending In Hungary (2013

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Ada Domańska and Robert Zajkowski

R eferences Aidis, R., Mickiewicz, T. (2006). Entrepreneurs, Expectations and Business Expansion: Lessons from Lithuania. Europe-Asia Studies, 58 , 855-880. Afonso, A., Schuknecht, L., Tanzi, V. (2005). Public Sector Efficiency: an International Comparison. Public choice, 123 (3-4), 321-347. Benedek, D., Crivelli, E., Gupta, S., Muthoora, P. (2014). Foreign Aid and Revenue: Still a Crowding-Out Effect?.FinanzArchiv: Public Finance Analysis, 70 (1), 67-96. Boix, C. (2001). Democracy, Development, and The Public Sector. American Journal

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Edyta Marcinkiewicz

between these indicators and several distinguishing factors. The data cover 10 countries (Bulgaria, Croatia, Czechia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia) studied in the period of 2006−2014. The paper is structured as follows. First, it discusses previous studies that are related. Then, it presents an overview of the funded pension schemes in the countries under investigation, as well as some quantitative information on voluntary pension plans in the CEE region. Next, the description and the results of empirical research are provided

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Karolina Wojcicka

, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. (17.08.2010). Retrieved from http://www.riksbank.se/Upload/Dokument_riksbank/Kat_AFS/2010/8a37263c.pdf. Craig, B.R., Dinger, V. (2010). Deposit Market Competition , Wholesale Funding, and Bank Risk. European Banking Center Discussion Paper, No. 210-17S, 1-34. Davis, K. (2007, August). Banking Concentration, Financial Stability and Public Policy. Paper presented at the Conference on The Structure and Resilience of the Financial System, Sydney, Australia. De

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Nikola Kosović and Daria Copîl

References Aidukaite, J. (2004). The emergence of the post-socialist welfare state: the case of the Baltic states: Estonia, Latvia and Lithuania. Huddinge: Södertörns högskola. Aidukaite, J. (2006). The formation of social insurance institutions of the Baltic States in the post-socialist era. Journal of European Social Policy, 16(3), 259-270. doi:10.1177/0958928706065597. Aidukaite, J. (2011). Welfare reforms and socio-economic trends in the 10 new EU member states of Central and Eastern Europe. Communist and