Wyniki wyszukiwania - Biblioteka Nauki

1

PKB i poszukiwanie szczęścia

100%

Herman A.

|

tom 34

|

nr 1

4-5

EN

At the G-20 top leaders summit in Pittsburgh in 2009 was proposed the reform of the derivatives market, by obliging to settle centrally most standardized derivative contracts that are traded OTC. Because it was admitted that OTC transactions had a significant impact on the spread of the financial crisis and require greater control. As a result, the United States has been introduced the Dodd-Frank Act, and the European Un-ion adopted the regulation EMIR on derivatives traded OTC, central counterparties and trade repositories. The article includes an economic analysis of the law adopted in financial market regulation, with particular emphasis on the institutions of central counterparties and transactions repositories.

PL

Tematem rozważań jest problem wad wskaźnika PKB jako miernika produkcji rynkowej. Zdaniem autora poszukiwanie alternatywy dla PKB oznacza konieczność przyjęcia nowych, podstawowych założeń wyjściowych we współczesnej ekonomii, co staje się obecnie szczególnie ważnym wyzwaniem intelektualnym.

2

Clustering macroeconomic time series

71%

Augustyński I. , Laskoś-Grabowski P.

|

nr vol. 22 no. 2

74-88

EN

The data mining technique of time series clustering is well established. However, even when recognized as an unsupervised learning method, it does require making several design decisions that are nontrivially influenced by the nature of the data involved. By extensively testing various possibilities, we arrive at a choice of a dissimilarity measure (compression-based dissimilarity measure, or CDM) which is particularly suitable for clustering macroeconomic variables. We check that the results are stable in time and reflect large-scale phenomena, such as crises. We also successfully apply our findings to the analysis of national economies, specifically to identifying their structural relations.

3

PUBLIC SPENDING AND THE ECONOMIC GROWTH RATE IN THE EUROPEAN UNION COUNTRIES

71%

Heller J. , Roman D.

|

nr 2

181-195

EN

The aim of this study is to make an assessment of the relationship between the total amount of public spending and the economic growth rate. According to the study results, an increase in total amount of public spending (expressed as % of GDP) brings about a decrease in the real gross domestic product. An analysis of the public spending in selected EU countries in the period from 1996 to 2005, measured as its percentage of GDP, reveals its relationship with a change in real GDP value. The relationship is negative, which means that a 1% increase in public spending is accompanied by an average decrease in the real GDP growth rate by 0.151312%. The actual GDP growth rate differs from that estimated by the model by circa 0.13823%.

4

WEALTH OF THE NATIONS MEASUREMENT METHODS IN THE FACE OF CHANGING GLOBAL SOCIAL-ECONOMIC ENVIRONMENT (Sposoby pomiaru bogactwa narodów w obliczu zmieniajacego sie otoczenia ekonomiczno-spolecznego swiata)

71%

Opolski K. , Potocki T.

|

nr 3

1-10

EN

One of the main debates in economics concerns the analysis of the global wealth. Economics became multidisciplinary research field which includes achievements of psychology, neurology, ethics and social science. As a result, the GDP should increasingly become multi-polar indicator. Alongside this work authors underline growing recognition of the importance of other contributions to individual global wealth, most especially psychology factors, health status, IQ, environment, personal security and aspects of CSR

5

Konwergencja warunkowa w krajach transformacji

71%

Rogut A. , Roszkowska S.

Gospodarka Narodowa. The Polish Journal of Economics

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2006

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tom 210

|

nr 9

35-55

EN

The authors set out to determine if the convergence theory passes the test in 25 transition economies. On the basis of statistical data for the years 1991-2004, using an econometric model, they analyze the influence of GDP per employee on the growth of labor productivity. They also consider other factors with an influence on sustainable economic growth. Considering the significant heterogeneity of the analyzed economies in terms of market reforms and institutional conditions, the authors divided the sample into three relatively homogenous groups: 10 new European Union member states excluding Cyprus and Malta; 12 CIS countries; and five Southern and Eastern European economies. The authors evaluated conditional convergence in individual groups of economies, concluding that economies with lower GDP per employee at the start of transition were characterized by a higher rate of growth for most of the analyzed period. GDP per employee primarily depended on investment in physical and human capital, the share of government spending in GDP and inflation. Moreover, the analysis showed that convergence processes in individual countries led to converging long-term economic growth rates, which were positive rather than neutral, contrary to the classic convergence theory.

6

MILITARY EXPENDITURES AND ECONOMIC GROWTH: THE CASE OF EU COUNTRIES

71%

Daněk T.

|

nr 8

853 – 868

EN

This contribution examines the relationship between military expenditures and economic growth in 28 EU countries between 1993 and 2014. The paper aims to verify the first pioneering hypothesis which claims that there is a negative relationship between military expenditures and economic growth in relatively poorer countries and a positive relationship in relatively richer countries. A cluster analysis is used to divide the nations into individual groups. The Feder-Ram model and multiple regression analysis with modified variables are than estimated for all groups based on the cluster analysis. The findings of the regression analysis mainly verified the hypothesis and showed a significant positive relationship between defence spending and economic growth in the case of more resource- abundant countries and a significant negative relationship in the case of more resource-constrained countries. However, the Feder-Ram model showed statistically in significant effects of military expenditures on economic growth.

7

DO REMITTANCES MATTER FOR ECONOMIC GROWTH?

71%

Dujava D. , Kálovec M.

|

nr 9

869 – 894

EN

Remittances represent one of the most important money flows into the developing world comparable to, and often exceeding, earnings from exports of goods and services and foreign direct investments. Even though importance of remittances in poverty reduction has been documented, impact of remittances on economic growth remains under-investigated mainly due to a strong endogeneity of remittances with respect to both level and growth rates of GDP. We provide detailed look into this endogenous relationship and discuss possible instruments which can help to remedy this problem in IV-estimation. In order to establish a link between economic growth and remittances we use range of instrumental variables encompassing geographical, microeconomic-based and internal instruments. By interacting remittances with other determinants of economic growth we provide evidence that remittances are especially important source of growth in poor countries not because of low level of development per se, but because the effect of remittances on growth is stronger providing level of human capital and savings rate are low and financial markets are underdeveloped.

8

Fiscal divergence and business cycle synchronization: irresponsibility is idiosyncratic.

71%

Darvas Z. , Rose A. K. , Szapary , Gy.

|

nr 12

937-959

EN

Using panels of 115 countries of world - including 21 OECD countries - and 40 years of annual data, the authors find that countries with similar government budget positions tend to have business cycles that fluctuate more closely. Thus fiscal convergence (in the form of persistently similar ratios of government surplus/deficit to GDP) is systematically associated with more strongly synchronized business cycles. Evidence is also found that reduced fiscal deficits increase business-cycle synchronization. The Maastricht 'convergence criteria', used to determine eligibility for EMU, encouraged fiscal convergence and deficit reduction. So they may, indirectly, have moved Europe closer to an optimum currency area, by reducing countries' abilities to create idiosyncratic fiscal shocks. The empirical results of the study are economically and statistically significant, and robust.

9

Impact of broadband speed on economic outputs: An empirical study of OECD countries.

71%

Kongaut C. , Bohlin E.

|

tom 3(17)

|

nr 2

12-32

EN

A number of studies have indicated that higher broadband penetration leads to greater economic impacts. Nevertheless other characteristics of broadband services such as different speeds are becoming more important to determine the economic impacts. This study estimates the relationship between broadband speed and economic outputs. The results show that broadband speed contributes positively to economic outputs such as GDP. The effects of broadband speed are also greater in countries with lower income. The policy recommendation is therefore that countries should focus on and encourage high speed broadband infrastructure and its adoption in their national broadband plans and policies.

10

Krótkoterminowe kredyty bankowe dla przedsiębiorstw w warunkach kryzysu finansowego

71%

Mikołajczak P.

|

2014

|

nr 2(19)

122-137

EN

The economic slowdown in Poland, which is mainly a consequence of the ongoing global financial crisis since 2008, exposed Polish firms to the danger of loss of liquidity risk arising among others from the deteriorating financial condition of companies and limited access to short-term finance. It determines not only the proper functioning of any enterprise, but often the ability of surviving on the market. The article presents the results of analyzes of relationship between the dynamics of changes in different types of short-term loans and the gross domestic product. It also presents the most important types of financial crises and the factors that determine them. An attempt was made to present the credit policy of banks to changes in the economic situation in Poland.

11

The Stock Market Situation and Economic Growth – An Attempt to Assess the Dependence

71%

Radke M.

|

nr 32

117-128

EN

The aim of the article: The main aim of the article is to analyze the relationship between the stock market situation and the real economy, measured by the strength of the correlation between the rate of return on the stock market and the rate of GDP growth in European capital markets. The next objective is to answer the question whether the stock market index changes are ahead of, and if so, by how much, GDP changes. The author’s hypothesis stipulates that the stock exchange situation precedes the change in economic activity and serves as its forecast. Methodology: The empirical research work was carried out on the basis of quarterly data value of the stock index and the GDP between 2010 and the first quarter of 2021 for 20 European countries. For indices and GDP, the quarterly dynamics of the rate of return and GDP were calculated. Data on the value of the stock exchange index was taken from the website www.stooq.pl, while data on GDP was taken from Eurostat. Subsequently, the analysis concerned the correlation relationships between the variables on the basis of the Pearson correlation coefficient. The correlation between the variables was calculated without delay, as well as with a delay of one, two or three quarters of the returns on stock indices. Results of the research: Changes in the value of the stock exchange index is in most cases positively correlated with the change in GDP and the correlation is pronounced, but it is low and moderate. The only market for which a significant correlation was observed, was the Polish market. At the same time, it can be stated that the rates of return on the stock exchange index precede a change in GDP by one or three quarters. No changes were observed for the analyzed countries for two quarters.

12

Empirical linkages between some economic factors and foreign direct investment in BRICS countries

71%

Gurshev O.

|

nr 9

122-135

EN

In 2003 Goldman Sachs published a report written by Wilson and Purushothaman entitled Global Economics Paper No. 99: Dreaming With BRICs: The Path to 2050, which central idea is that over the next 50 years, Brazil, Russia, India and China could become a much larger force in the world economy, even larger than the current G7 economies in US dollar terms. In 2017 BRICS joint contribution to the world economy was 23.6 per cent and according to the International Monetary Fund (IMF) predictions this is set to rise to 26.8 per cent by 2022. Based on the used estimation, the biggest contributor to the FDI inflows is an index of economic openness, where decreasing barriers for trade and investment increase country’s exposure to the global economy, which in return has a significant effect in attracting FDI to the economy. Secondly, in majority of cases change in both import and export values tend to negatively affect FDI inflows, such phenomenon does not necessarily mean that country must not engage and liberalize its trade policy, but that the impact of those factors is inconsistent and has to be researched further. Thirdly, GDP contribution confirms the gravity model hypothesis as larger economies tend to attract larger volumes of FDI inflows, however in case of China this effect seems to be slightly reversed. Lastly, the effect of trade balance on FDI inflows remains complex to capture, however a dummy variable method applied in this paper can be applied to countries that have both positive and negative trade balance dynamic.

PL

W 2003 roku Goldman Sachs opublikował raport napisany przez Wilsona i Purushothamana zatytułowany "Global Economics Paper No. 99: Dreaming With BRICs: The Path to 2050, którego główną ideą jest to, że w ciągu następnych 50 lat Brazylia, Rosja, Indie i Chiny mogą stać się znacznie większa siła w światowej gospodarce, nawet większa niż obecne gospodarki G7 w ujęciu dolarowym. W 2017 r. Wspólny wkład BRICS w gospodarkę światową wyniósł 23,6%, a według prognoz Międzynarodowego Funduszu Walutowego (MFW) do 2022 r. Ma wzrosnąć do 26,8%. Na podstawie wykorzystanych szacunków największy udział w napływie BIZ stanowi wskaźnik otwartości gospodarczej, gdzie malejące bariery w handlu i inwestycjach zwiększają ekspozycję kraju na globalną gospodarkę, co z kolei ma znaczący wpływ na przyciąganie bezpośrednich inwestycji zagranicznych do gospodarki. Po drugie, w większości przypadków zmiana zarówno wartości importu, jak i eksportu wpływa negatywnie na napływ BIZ, zjawisko to niekoniecznie oznacza, że kraj nie może angażować się i liberalizować swojej polityki handlowej, ale że wpływ tych czynników jest niespójny i musi być zbadałem dalej. Po trzecie, wkład PKB potwierdza hipotezę modelu grawitacji, ponieważ większe gospodarki mają tendencję do przyciągania większych wolumenów napływów BIZ, jednak w przypadku Chin efekt ten wydaje się być nieco odwrotny. Wreszcie, wpływ salda handlowego na napływ BIZ jest nadal trudny do uchwycenia, jednak zastosowana w niniejszym dokumencie metoda zmiennej fikcyjnej może być stosowana do krajów, które mają zarówno dodatnią, jak i ujemną dynamikę bilansu handlowego.

13

Transport Intensity of the Global Economy in 1995-2015

71%

Mindur M.

|

2018

|

tom 37

69-76

EN

Transport covers the area where mutual relations between economy and its requirements take place, and where it affects – not always in a positive way – its surrounding. Simultaneously, it is the transport that marks the direction for the infrastructure development, and hence for the whole economy. The close association between the economy and transport is confirmed by the amount of carriages in the world. The excessive increase of the transport intensity is one of the phenomena that negatively affect the economy. Expenditures incurred for the transport activities are expressed indirectly by the amount of traffic (in tonnes) and by the volume of transport performance (in tonne-km). In contrast, the effect of socio-economic activities are values of global product and national income. The article studied the transport activity in terms of volume of transport work (in tkm) total for all modes of transport, the effects of economic and social activity expressed by means of the value of gross domestic product, as well as the development of the transport intensity of national economies for the selected countries (regions) and for Poland. Analysed were both the curve with exponential functions and polynomial curves, and on their basis conclusions were drawn.

14

EFFECTS OF GLOBALIZATION AND CORRUPTION ON THE OUTWARD FDI IN OECD COUNTRIES

62%

Bojnec Š. , Fertӧ I.

|

nr 3

201 – 219

EN

The paper investigates impacts of globalization and corruption-free on the outward foreign direct investment (FDI) for 22 OECD countries. The baseline model confirms the positive link of home and host country gross domestic product (GDP) per capita and Linder’s hypothesis, home and host size of GDP and its similarity, host agglomeration of multinational enterprises, common currency euro, and the negative link with geographical distance. The results for the effects of globalization and corruption-free on the outward FDI are mixed. The significant positive association pertained to home and host country economic globalization is confirmed, but the significant negative association pertained to home and host county social globalization. The significant positive association of outward FDI with the corruption-free in host country and the significant negative association with the corruption-free in home country and for corruption similarity suggest FDI outflows from low corruption-free home country to high corruption-free host country. This finding implies FDI preference for corruption-free economically globalized OECD host countries.

15

Badanie zależności pomiędzy handlem zagranicznym a PKB z wykorzystaniem modelu VAR oraz przyczynowości Grangera

62%

Pisarski M.

Econometrics. Ekonometria. Advances in Applied Data Analytics

|

2013

|

nr 4(42)

103-116

EN

The main goal of this paper is to examine relationships between GDP and inter-national trade (exports and imports). Foreign trade channels which can affect national in-come have been listed and the impact of trade on GDP was described. Differences between a closed and an open economy are shown. The autoregression vector (VAR) model was used as well as Granger causality test. Quarterly dataset for the USA, the period from 1997:Q1 to 2013:Q3 was used. The results of Granger causality test led us to the conclusion that export causes GDP and also GDP and import affect each other (in Granger causality).

16

MEASUREMENT OF REAL CONVERGENCE IN THE EU-28 BY USING THE ENTROPY METHOD

62%

Durkaliċ D. , Fedajev A. , Furtula S. , Stanišiċ N.

Ekonomický časopis (Journal of Economics)

|

2019

|

tom 67

|

nr 7

698 – 724

EN

A convergence process, defined as the process of the economic indicators harmonization within the European Union, can be observed from the nominal and the real point of view. A real convergence is a quite interesting issue since it has a long-term influence on the growth and development of this regional integration as a whole and its competitive position in the global market. Therefore, the topic of this paper refers to the measurement of the real convergence in the EU during the period from 2004 to 2016, using the entropy method. The entropy method is a fairly suitable method for investigation of the real convergence since it measures the divergence across the sub-systems of a certain system (in this case, the EU member countries) by the level of entropy. In this paper, the real convergence is measured by the PPP-based GDP per capita, the unemployment rate, the GDP per worker and the gross capital formation (as % of the GDP). The obtained results pointed out that the most pronounced differences among EU economies exist in labour productivity, represented by GDP per worker, while the differences in domestic investment, expressed by gross capital formation, were the lowest.

17

РОЗВИТОК СІЛЬСЬКОГО ГОСПОДАРСТВА ТА ЙОГО ІНВЕСТИЦІЙНЕ ЗАБЕЗПЕЧЕННЯ

62%

В.О. Н.

Zeszyty Naukowe PWSZ w Płocku. Nauki Ekonomiczne

|

2014

|

tom 19

EN

The article analyzes the current state of agriculture in Ukraine. Definitely investments in fixed capital industry.

18

REGIONÁLNÍ INPUT-OUTPUT TABULKY: PRAKTICKÉ ASPEKTY JEJICH SESTAVOVÁNÍ PRO KRAJE ČESKÉ REPUBLIKY

62%

Sixta J. , Vltavská K.

|

2016

|

tom 64

|

nr 1

56 – 69

EN

The paper describes practical aspects of the compilation of regional input-output tables of the Czech Republic. Regional input-output tables (RIOTs) are not compiled by the official statistics. RIOTs represent a supplement of published indicators of regional accounts. The compilation of RIOTs is based on the combination of different data sources. The matrix of technical coefficients derived from national input-output tables represents the fundamental base of the tables. With respect to users, the results are consistent with macroeconomic aggregates and therefore they are directly suitable for economic modelling. Moreover, RIOTs comprise the examination of elementary relationships between regions and advanced structural analysis. The paper outlines how to develop the methodology of the regional input-output tables’ compilation and illustrates the possibility of regional structural analysis.

19

Bezrobocie transformacyjne w Europie Środkowej i Wschodniej

62%

Adamczyk A. , Tokarski T. , Włodarczyk R. W.

Gospodarka Narodowa. The Polish Journal of Economics

|

2006

|

tom 210

|

nr 9

1-33

EN

Market transition in Central and Eastern Europe triggered many new socioeconomic developments. One of them was the appearance of open unemployment vastly different from that noted in most developed economies around the world. As a result, the term “transformation unemployment” began to be used in literature on the subject. The authors of the article analyze the trend from a theoretical point of view and then follow up with an empirical study of unemployment. They present changes in the labor force and GDP in several groups of countries: Central Europe (Czech Republic, Poland, Slovakia and Hungary) plus Slovenia; Lithuania, Latvia and Estonia; Russia, Ukraine, Belarus and Moldova; Georgia, Armenia and Azerbaijan; and Balkan countries (former Yugoslav states except Slovenia as well as Albania, Bulgaria and Romania). The authors offer a statistical analysis of GDP growth and unemployment in individual groups of countries. In the final part of the article, the most important conclusions are summed up. These include the fact that the analyzed groups of countries display major differences in unemployment rates, along with changes in employment figures and labor productivity. Moreover, in most these countries, GDP growth has had a limited effect on unemployment. The only exception is Central Europe, though the European members of the Commonwealth of Independent States and transition economies in the Balkans also stand out positively.

20

CHANGES OF THE ECONOMIC SITUATIONVS. THE STATE OF PUBLIC FINANCES IN POLAND IN 2007-2015

62%

Zieliński M.

|

nr 2

118-129

EN

The paper is devoted to the analysis of the impact of changes in the level of economic growth on the volumes deciding about the condition of public finances. The main hypothesis put forward in the paper is the assertion that the changes of the economic situation affect substantially the state of public finances, causing changes on the level of revenues and expenditures of public sector. The second hypothesis is the assertion that fiscal policy in Poland, in the analyzed period, was of a passive nature. The paper contains data analysis of the period between 2007 and 2015 provided by the Central Statistical Office with the use of correlation rates. Statistically significant negative dependence was observed between GDP growth and expenditures of the State budget, total public debt and government sub-sector debt. Such results indicate the dominance of passive fiscal policy during the analyzed period.