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EN
Researchers have been working on the topic of the XIX century Polish currency for decades now. They have been interested in both notes and coins. The complicated fate of Poland – which either did not exist on the map of Europe of that period or was shown as a quasi-state of the Duchy of Warsaw (1807–1815), the Kingdom of Poland (1815–1830) – till the November Uprising, the episode of the Free City of Cracow (1815–1846) and later as partition zones – was reflected in notes and coins. Those issued during Polish national uprisings played a special role. They influenced attempts to introduce and restitute currencies by state authorities that were then coming into being. This ideological trend includes the project of establishing currency for “New Poland” by the conspirator, socialist-utopist Rev. Piotr Ściegienny (1801–1890). It is worth mentioning that he was not only the hero of uprising or national liberation addresses, but also the author of a unique at that time (mid-XIX c.) vision of social, religious, economic changes in the Polish society. The face values of the designed coins were to be similar to those used earlier in the territory of the Kingdom of Poland. Due to the disintegration of the organization “Związek Chłopski” and lack of a possibility of starting a new uprising, Piotr Ściegienny’s currency for the utopian “New Poland” was never issued.
EN
The possibilities of Poland, Latvia and Lithuania to adopt the euro, which is one of most important task of the economic policy in these countries is analyzed in the article. The international importance of the euro, the advantages and disadvantages of the single currency are discussed. Experience of Germany in adopting of the euro is analyzed. The strategy of the adoption of the euro in Lithuania is presented. The analysis based on the data of Eurostat database shows that Poland is the country with most possibilities to adopt the euro. However both Lithuania and Latvia may become the euro zone member states, too, if they firstly will cope with financial problems of the government and will revitalise and develop their internal market.
EN
We have adopted Rodrik’s “undervaluation” hypothesis to verify the conjecture that innovative firms in Poland opt for a weak currency because they face obstacles in the labour and financial markets. We do it by exploring a new database on Polish manufacturing exporters in order to find some interrelations between the exchange rate level and innovation activity. Our findings suggest that a weak Zloty is preferred by exporting firms that have carried out product and process innovations and registered a trademark, patent or claimed a copyright. We confirmed that financial constraints and labour market regulations were important factors preventing the growth of innovative firms. Based on the research on Polish firms, we claim that although innovative companies use technology to gain competitive advantage, their success and innovation activity also hinge on prices in general and on a weak exchange rate in particular because it helps to overcome market imperfections related to financial and labour resources.
EN
In the article are examined current trends of the world monetary system in the context of the growing impact of globalization as the highest level of internationalization of the international economic relations and are determined the root principles to its reform in connection with the global economic crisis.
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