<abstract xmlns="http://www.w3.org/1999/xhtml">The rules and control mechanisms pertaining to the financial management of local governments enhance the sustainability of their budgets, that is, they have an operational risk mitigating effect. This paper presents the Hungarian system of self-government, and its fiscal rules, which have undergone a major reform since 2011, and the system of duties and financing have been aligned. The paper evaluates the reform process that commenced in 2011, and the effectiveness of budgetary regulations. The second half of the paper presents the control system of Hungarian local governments, the strengthening of which also has promoted the sustainability of financial management.</abstract>

Sustainability and Control Issues of the Financial Management of Local Governments – Through Hungary’s Example

<abstract xmlns="http://www.w3.org/1999/xhtml">The idea of the circular economy is gaining ground as one of the means to realize a sustainable future. The concept of a circular economy is an innovative alternative model to society‘s current “linear” mode of operation. An alternative to fossil fuels is a cycle in which carbon and methanol play a major role. Carbon use plays a major role in mitigating global climate change, while methanol as a renewable fuel can also mitigate the negative e~ects of climate change and bridge the problems of scarcity of ecosystem resources and rising levels of consumption. Despite the fact that a circular economy reduces the environmental burden while providing business bene˚ts, not all circular solutions have a positive impact on sustainability. The use of CO2 as a feedstock can be a very e~ective tool for reducing global carbon dioxide concentration as well as reducing dependence on fossil fuels. At the same time, the environmental impacts of the technologies developed need to be accounted for in order to highlight that the technology pathway actually contributes to the sustainability goals.</abstract>

The Connection of the Methanol Economy to the Concept of the Circular Economy and Its Impact on Sustainability

<abstract xmlns="http://www.w3.org/1999/xhtml">Organic agriculture ensures a balanced state of the ecosystem, which is the key to sustainable development of the economic and social spheres of society. European countries are in the process of historical development reached an understanding on the need for its further ecological progress. That is why the world market for organic products has formed. Studies show that the development of organic production began in the 20‘s of the twentieth century. Since then, markets for organic products began to grow rapidly in many countries. Among the world‘s regions, the largest areas of organic land are located in Oceania and Europe. The article is devoted to the study of foreign experience in the development of ecological agriculture. The variety of names of ecological systems of management in the countries of the world and the principles which are included in the concept “ecological agriculture“ are studied. The history of the emergence of organic agriculture has been explored. The analysis of the development of organic agricultural production at the world level, the countries of Europe and the European Union (EU) and individual countries has been analyzed. A grouping of organic farms in Europe has been organized in terms of size. Ukraine, with its significant natural and economic potential in the future may also be one of the important subjects that will form a proposal in this market. The environmental policy of the country has an important influence on the efficiency of organic farms.</abstract>

Features of Organic Agricultural Products Functioning in EU and Ukraine

<abstract xmlns="http://www.w3.org/1999/xhtml">It is proved that the effective development of small farms is ensured by the level of their resource supply and the balance of production resources, the efficiency of which we have been carried out on the basis of the calculation of allocative and technical efficiency. According to the obtained equation of production function, we conclude that the most elastic factor is the cost of seeds, fertilizers, feed and other material costs. An increase of this resource by 1% will lead to an increase in the result by 0.395%. The smallest value of the coefficient of elasticity was obtained from such production resource as arable land. The obtained model shows that there is a decreasing effect on the scale, since the sum of the regression coefficients is less than 1 (equal to 0.962), which means that if the resources increase in some proportion, then the volumes of revenue increase in a smaller proportion. It is substantiated that allocative inefficiency is caused not by the excessive use of resources in small farms, but by the higher prices for them and the underestimated agricultural output.</abstract>

Features of Formation and Use of Production Resources by Small Farms in Ukraine

<abstract xmlns="http://www.w3.org/1999/xhtml">The increasing consumption of energy, as well as exhaustibility of fossil resources, initiate the necessity of finding renewable resources. Especially biofuels represent the important role in terms of renewable resources, development of which is often question under debate in many countries. By increasing of blending mandate in the European Union (EU), the SR after joining the EU forced to implement the changes in its action plan for renewable energy in transport and set benchmarks share of methyl ester of rapeseed oil in diesel fuel. The aim of the paper is to evaluate the economic impact of biodiesel production in the Slovak republic. At the same time, biofuel production has an impact on the price of conventional fuels. The relationship between biofuel production and prices of agricultural crops as well as conventional fuels we examined through regression and correlation analysis, which showed that between production of biodiesel and the prices indicated exists certain dependency.</abstract>

Evaluation of Economic Impacts of Biodiesel Production in Slovakia

<abstract xmlns="http://www.w3.org/1999/xhtml">A systematic analysis of the volumes of fish and seafood production in Ukraine and European countries is conducted, the issue of the ratio of import and export of fishery products in Ukraine is highlighted. It is shown that the fish and seafood market of Ukraine is far from being saturated, but also even from the minimum satisfaction of the domestic needs of the country’s population. The average annual consumption of fish and seafood in Ukraine is much lower than the world average. The main supply of fishery products in the domestic market is provided by imported supplies, which is about 75% of domestic consumption. The expediency of using the European experience, in particular regarding the use of the principles of the Common Fisheries Policy, is outlined.</abstract>

Fish and Seafood Market Research in Ukraine

<abstract xmlns="http://www.w3.org/1999/xhtml">The paper deals with the analysis of factors that influence the change in return on equity (<italic>ROE</italic>) in farms of individual V4 countries – in Slovakia, Poland, Hungary and the Czech Republic. DuPont analysis denotes the decomposition of the <italic>ROE</italic> indicator and is classified as a basic pyramid decomposition. The pyramid system captures the relationship between indicators, where one synthetic indicator (<italic>ROE</italic>) is broken down into analytical indicators through linkages. In the case of a multiplicative link between indicators, the functional and logarithmic method is used. The source of data is the Farm Accountancy Data Network for the period 2009–2017. Comparing the first and last year we can conclude that the <italic>ROE</italic> indicator decreased in farms of all V4 countries (in Slovakia by 155%, in Czech Republic by 133%, in Hungary by 52% and in Poland by 19%). The predominantly positive or negative impact on its development was mainly influenced by two indicators: return on assets and return on sales in all countries.</abstract>

Dupont Analysis of Farms in V4 Countries

<abstract xmlns="http://www.w3.org/1999/xhtml">The main purpose of this paper is to study the influence of home-multinational enterprises on country global competitiveness and to determine how this influence changes with the stage of country competitiveness. Based on the regression model, Variance Inflation Factor test and Agglomerative Hierarchical Clustering method, we analyzed the WEF Global Competitiveness Index 2017–2018 of those countries whose multinational firms were included into the Forbes Global 2000 list of 2017. The findings highlighted the important role of home-MNEs as determinants of countries‘ competitiveness, however MNE-related contribution of different pillars and components of the Global Competitiveness Index vary, depending on the stage of competitiveness of the studied 58 countries.</abstract>

The Relationship between the Country‘s Global Competitiveness and its National MNEs

AHEAD OF PRINT

Volume 12 (2023): Issue 2 (December 2023)

Volume 12 (2023): Issue 1 (June 2023)

Volume 11 (2022): Issue 2 (December 2022)

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Volume 10 (2021): Issue 2 (December 2021)

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Volume 6 (2017): Issue 2 (November 2017)

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Volume 5 (2016): Issue 2 (November 2016)

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Volume 3 (2014): Issue 2 (December 2014)

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Volume 2 (2013): Issue 2 (December 2013)

Volume 2 (2013): Issue 1 (September 2013)

Visegrad Journal on Bioeconomy and Sustainable Development

The international scientific journal “Visegrad Journal on Bioeconomy and Sustainable Development” was published as a part of the IVF Strategic Project “Sustainability in Agrisector of V4 Countries and Cooperating Regions” by the Faculty of Economics and Management. Published since 2011.    The journal is administered by an international Editorial Board.  The journal is published twice a year.   The journal focuses on issues of the Visegrad countries and cooperating regions in the area of sustainable development and bioeconomy and especially on the following topics:　    Integrated Bioeconomy at global, European, regional, and local levels,  Sustainable management of natural resources and sustainable agri-food production,  Sustainability, traceability, and food security in the supply chains,  Global sustainable development and its challenges,  Climate change mitigation, land degradation and biodiversity,  Green economy agenda and institutional framework,  Renewable resources of energy,  Rural, agricultural and forestry development,  Entrepreneurship, international trade, and innovations.   Papers are published in English.  Why subscribe and read  "Visegrad Journal on Bioeconomy and Sustainable Development" is an excellent international scientific journal with the focus on the issues of the Visegrad countries and cooperating regions in the area of sustainable development and bioeconomy.  Why submit  The journal offers the authors a great opportunity to publish their papers in a quality international scientific journal enabling them to share the results of their research.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 