Economic Review, Volume 39, 2010

Ekonomické rozhľady/Economic Review - Content Volume 39

Economic Review, Ekonomické rozhľady, abstracts/abstrakty, fulltext, volume/ročník 39, 4/2010, ISSN 0323-262X EV 4393/11

Sonia Ferenčiková, Alexandra Pappová - FOREIGN DIRECT INVESTMENT AS A DETERMINANT OF INVESTMENT DEVELOPMENT PATH OF SLOVAKIA

 

Abstrakt/Abstract: Slovakia’s economy has shown consistent and strong growth, especiallysince the early 2000s. Foreign investors, attracted by business-friendly government policies, favourable geographical location, and a skilled yet relatively low-cost labour force, have contributed significantly to this Slovakia’s economic boom. Indeed, foreign direct investment has been one of the major factors in the growth of the economy, particularly in the automotive and electronic sectors as well as in services. Accordingly, as the economy has been expanding, domestic firms have been investing outside Slovakia, as well, furthering the country’s economic development. The authors in the article show the development paths of Slovakia and discuss the stage in which Slovakia is positioned based on investment development path theory.
Keywords: foreign direct investment, investment development path
JEL: F 21, F 43
str./p. 459-472

 

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Gökhan Turan, İpek Eker, Juraj Pekár - SELECTION WITH TOPSIS METHOD AMONG OF EU CANDIDATE AND PRE-ACCESSION COUNTRIES

 

Abstrakt/Abstract: The paper deals with issues of admission of countries in the EuropeanUnion, which is discussed in terms of economic criteria and political criteria. The authors analyse this problem on the basis of economic criteria assessed by the EU. There are various methods to evaluate the variants, while the authors have chosen the TOPSIS method. The result of this method of multi-criterial evaluation of variants is the arrangement of alternatives, in our case – candidates and potential candidates for admission to the EU on the basis of GDP criteria (in real terms, annual % change), unemployment (LFS, in % of workface), current account balance (% of GDP), and inflation (consumer price index, annual % change), while it was EU reports that have been used as input data.
Keywords: EU, multi-criterial decision making, TOPSIS
JEL: C 6, C 61, C 63
str./p. 473-480

 

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Elena Šúbertová - SLOVENSKÉ VÝROBNÉ DRUŽSTEVNÍCTVO A JEHO AKTUÁLNE PROB-LÉMY V OBDOBÍ HOSPODÁRSKEJ KRÍZY


Abstrakt/Abstract: In Slovakia there are co-operatives that can be considered equivalent to those abroad, because the less favourable economic conditions in the past can still achieve the comparable record financial results. The advantage of the producer cooperatives is the fact that a higher number of members can create higher profits than an individual and do not need so much capital as an industrial enterprise in the form of a company (joint stock company, limited liability company). In our opinion, the greatest disadvantage is the fact that more members make decision making often cumbersome, and the principle of a member is applicable just during the economiccrisis, when it is necessary to act quickly, and states hinder their own further development. It is even more difficult if the producer cooperatives managements lack flexibility and cannot and/ or fail to cooperate and take advantage of membership in various organisations to secure a favourable economic growth.
Keywords: entrepreneurship producer co-operatives, top management, members
JEL: M 30, M 13
str./p. 481-491

 

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Dagmar Lesáková - CENOVÉ ROZHODOVANIE V SPOTREBITEĽSKOM SPRÁVANÍ

 

Abstrakt/Abstract: In the present research study a new approach towards price-decisionassessment is explored. It does not necessary include the use of dynamic model optimisation processes; however, it enables to gain the picture of a position of individual product category on the market. Such an approach could be of help to producers in positioning their brands based on price / quality comparisons; it generates data regarding expectations and requirements of various types of retailers. The method presented in the paper could be a useful issue for retailers in product and assortment development policy, taking into account the preferences for particular price levels in various product groups. Besides, it offers arguments in decision making on price-positioning of individual retailers.
Keywords: price-level, loss of middle-price-level, consumer purchase, product group.
JEL: C 61, L 81
str./p. 492-499

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Lea Škrovánková - MODERNÉ AKTUÁRSKE MODELY V POISŤOVNÍCTVE

 

Abstrakt/Abstract: The paper contains designing and utilisation of actuarial models in health and sickness insurance (sickness benefits and lump sum). A continuous general time model enables to consider a wide range of various conditions when creating the offer of health and sickness insurance products. That is why some calculations for continuous annuities within multi-level modelling are illustrated in this paper. Some of the many approaches that can be used for these calculations are multiple-state and decrement models. Their advantage is that they make use of stochastic approach for the transitions between the states. This brings with it a more faithful modelling of the real world than do the deterministic models.
Keywords: sickness and health insurance, differential equation, transition probability.
JEL: G 23
str./p. 500-509

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Peter Ďurka - MODEL S KOREKČNÝM ČLENOM PRE DOVOZ TOVAROV A SLUŽIEB DO SLOVENSKEJ REPUBLIKY

 

Abstrakt/Abstract: Imports of goods and services reflect the level of purchase effective inhabitants and their increase indicates a higher consumption of inhabitants (higher demand for foreign goods and services). In so small and open economy as Slovak economy is, import presents an important macroeconomic indicator which should be watched very carefully and the knowledge of its further development is important for the selection of correct actions by the state for support and growth of domesticeconomy. For these reasons we consider it important to analyse the determinants of the development of import. The architects of economic policies could use the results of those analyses as quantitative instruments for making their decisions. The aim of this paper is to create a macroeconomic model which is methodologically based upon the principles of error-correction models (ECM) and to forecast the development of import of goods and services in 2010.
Keywords: import of goods and services, error-correction model, ADF, forecast
JEL: E 17
str./p. 510-523

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Martin Grančay - ANALÝZA TRHU CIVILNEJ OSOBNEJ LETECKEJ DOPRAVY MEDZI SLOVENSKOU REPUBLIKOU A USA V PODMIENKACH LIBERALIZÁCIE LETECKEJ DOPRAVY A GLOBÁLNEJ KRÍZY

 

Abstrakt/Abstract: The paper analyses the forces of supply and demand on the bilateralair transportation market between Slovakia and the United States. It examines reasons why no airline offers direct flights between Slovakia and the United States and evaluates the possibility of introducing them. The paper comes to the conclusion that direct flights between the two countries would have only marginal economiceffects, and the business case for their launch is thus nonexistent. The reasons include small market size, satisfactory current network of indirect flights, proximity of airports with direct service to the United States, and a high volatility of demand on the North Atlantic air transportation market. The paper also presents results of a survey executed among students of the University of Economics in September 2010.
Keywords: air transportation, Slovakia, United States, Open skies
JEL: L 93
str./p. 524-538

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Dimitrios Giannias, Yuri Chepurko, Alessandro Figus - QUALITY OF LIFE INDICES AND THE EUROPEAN FUNDING PROGRA-MMES

 

Abstrakt/Abstract: Quality of life indices get special attention because of their all inclusive nature which focuses on the location specific characteristics. An analysisof consumer’s decision making indicates that the weights used for the regional amenities considered and included in the index should not vary across regions. Given this, a quality of life index is computed for various countries assuming that all amenities are equally weighted. All amenities considered are scaled from 0-100 so that the index is independent of units of measurement. Countries were ranked according to the adoped quality of life criterion. A comparison of quality of life values with the per capita European Commission funding programmes indicatesthat the allocation of funds supports the integration process of the Central and Eastern European Countries.
Keywords: Quality of life indices, isocost, isoutility, microeconomic classifications, regional and environmental policies
JEL: D 00, Q 56, R 58
str./p. 539-551

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Mária Kačírková - REGIONÁLNE PROSTREDIE V POZADÍ ZMIEN TECHNICKO-EKONOMICKEJ PARADIGMY

 

Abstrakt/Abstract: The article focuses on building a regional innovation environment that takes into account the demand of the present technological, economic and socio-institutional paradigms. This environment is seen as a system of innovation networks and institutions located within a region, with regular and strong internal interaction that promotes innovativeness. The main aspects behind the creation of efficient regional innovation policy are as follows: understanding the effects of the changing technological, economic and socio-institutional paradigms on the regional innovation environment, avoiding regional lock-in, creating multi-actor innovation networks, enhancing the absorptive capacity of the innovation networks, creating sufficiently creative social capital and understanding the multi-level governance environment in forming innovation policies and strategies.
Keywords: regional environment, regional innovation systems, networking, social capital, learning process
JEL: O 10, R 58
str./p. 552-564

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Ivana Lennerová - VÝHĽAD PRAKTICKEJ REALIZÁCIE ODPORÚČANÍ TEÓRIE MONETA-RIZMU V EUROZÓNE

 

Abstrakt/Abstract: The purpose of the present paper is to verify the hypothesis whether it would be possible to use the conclusions of individual representatives of monetarismin the implementation of monetary policy by the European Central Bank in the future.The paper is divided into two parts. The first chapter deals with the comparison of two methods/ approaches of selected central banks at the time of the global financial crisis in the implementation of monetary policy. The second chapter deals with prospects of monetarism in the implementation of monetary policy in euro-zone.The author presents her proposal for a new theoretical conception in the implementation of euro-zone monetary policy in the future. As regards the theoretical and empirical data on which the paper is based, the author has arrivedat the conclusion that it will not be possible to use the conclusions of individualrepresentatives in the implementation of the euro-zone monetary policy in the future. According to the author, it is easier for the ECB to respond to the shocks in the economy by means of the change in interest rate than by influencing the supply of money. For this reason, the author recommends to consider a theoretical conception of a new consensus in the future.
Keywords: monetarism, monetary policy, inflation, strategies of monetary policy, European Central Bank (ECB)
JEL: E 5
str./p. 565-578

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RECENZIE/REVIEWS

 


Danuša Lišková
ADAMCOVÁ, L: Einführung in das Studium der deutschen Sprache. München: Lincom, 2010, 216 s. ISBN: 978-3-89586-523-7
JEL: Y30
str./p. 579

Juraj Silvan
From Innovation to Social Justice
On the Completion of the Trilogy of the Post-crisis Development
JEL: Y30
str./p. 580-582

 

INFORMÁCIE/INFORMATIONS


Daniela Breveníková
Cudzie jazyky v premenách času
str./p. 583-584


 

Economic Review, Ekonomické rozhľady, abstracts/abstrakty, fulltext, volume/ročník 39, 3/2010, ISSN 0323-262X EV 4393/11

Štefan Slávik- NEFORMÁLNE A SPONTÁNNE POZADIE TVORBY STRATÉGIE

 

Abstrakt/Abstract: Traditional conceptions of strategic management are well known in practice and academic education, too. Planning concepts are systemic, logical and supplied with a great number of working  techniques. Nontraditional and emergent processes are participating in practice too, but scale of their formalization is low, working techniques intuitive in nature, they involve random events, and they are carried out beyond common working schemes and procedures; therefore they are a theme of research and education in small range only. Submitted article tries to undraw at least partially a curtain to reveal informal phenomenons and unplanned activities in strategic management and look at what is going on behind the scenes of formal processes.
Keywords: strategy, emergent strategy, informal background of strategy
formulation, intuition
JEL: M 10, L 21
str./p. 307-322

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Ján Rudy, Jana Fratričová - CHANGES IN JAPANESE HUMAN RESOURCE MANAGEMENT SYSTEM PART I: CHANGES IN THE POST-WAR ERA

 

Abstrakt/Abstract: Lifetime employment, seniority system, Ringi system of decision
making, and company trade unions are considered the typical characteristics or features of the traditional Japanese approach to management. In reality, majority of these features are related to human resource management practice in Japan. The paper deals with changes in Japanese management practice in both the post-war era and the lost ten years’ era. The post-war era includes about three decades since the 1950’s till the end of 1980’s. Period of the 1990’s till the beginning of the 21st century is regarded the lost ten years’ era in Japan. It makes sense to separate these periods as large industrial Japanese companies operated in different business environments in both periods. Changes that occurred in the Japanese management practice during both periods, of course, reflected these differences. Accordingly, the paper is published in two parts. The first part deals with changes in the post-war era.
Key words: American management, human resource management, Japanese
management, kanji, management theory, management practice, Ringi procedure
JEL: M 12
str./p. 323-331

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Michal Pružinský - VÝCHODISKÁ MALÝCH A STREDNÝCH PODNIKOV V RIEŠENÍ DOSAHU HOSPODÁRSKEJ RECESIE

 

Abstrakt/Abstract: Growth of national economies after two prosperous decades slowed down in most countries; there is a decrease. Examination of the economic processes is carried out from macroeconomic and microeconomic aspects. Ranges of measures made by national governments, which aim to help businesses overcome the difficult and complex period are similar in nature. However, they differ in terms of the support, the size of enterprises, types of industry, and the current transfer of aid to economic entities. On the part of enterprises themselves, in most cases the differences are in an innovative and flexible access to markets and to their customers. Small businesses are an important segment of the economy, consequently studying their performance highly relevant. Motivation of  entrepreneurs is essential for maintaing their activities. We are looking for answers to questions whether the performance of small businesses is on a lower scale in comparison with large busines-ses. It is a fact that, although SMEs employ more than 65% of the workforce, they produce less than 57% of Gross Domestic Product. Is the Gibrat regularity valid under current conditions ? We are looking for answers to whether and how the performance is affected by business size, its ownership structure and survival.
Keywords: economics, growth, small and medium-size enterprises, innovation, the enterprise’s performance
JEL: A 1, E 32, F 43
str./p. 332-341

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Michael Mamonov - ECONOMIC DETERMINATION OF PUBLIC MOOD OF THE RUSSIANS: MYTH OR REALITY?

 

Abstrakt/Abstract: The paper deals with the research in the correlation between the parameters of the economic situation and the state of public mood. On the basis of the data presented in the pa-per, the author draws five important conclusions concerning the nature of the public mood as well as social and political activities of the Russians. Firstly, the economic situation is not a basic determinant for the mass mood as for the social and political activities of the Russian population. Secondly, non-economic factors have a decisive influence on the assessments of the overall situation in Russia. Thirdly, emotional and psychological conditions of the Russians significantly determine the economic assessments. Fourthly, changes in the country‘s economic situation are neither reflected in mass consciousness nor in the results of the sociological surveys. Fifthly, the Russian population very faintly links the development of the economic situation with the activities of the RF government.
Keywords: assessment of the economy, economic crisis, economic assessment,
Russian Federation, public opinion, public mood
JEL: P 16
str./p. 342-351

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Ewa Bogalska-Martin - LA RHÉTORIQUE DE LA CRISE ET LE GRAND DÉVOILE- MENT. QUELQUES REMARQUES SOCIOLOGIQUES

 

Abstrakt/Abstract: Crisis is bound to be both social and political: it concerns in the first place indivi-duals; it highlights the issue of decision making and decision taking. We cannot leave this topic only to economists – specialists in statistical balance and to financiers. In the present paper authors are trying to find some elements of the answer to the following question: In whose services is the rhetoric crisis being mobilised? Who needs this kind of rhetoric to re-group social and economic structures and  enforce new forms of global, European and national dominance? Can also citizens have a say here? From a purely economic aspect, this crisis shows how new information and communication techno-logies get out of control of entities, but also how the entities that utilise them, get out of control of political and legal institutions. We can speak about the crisis that results from the failure of regula-tion mechanisms. At the same time, by pulling down its veil, the “crisis” reveals its permanent, structural, deep and hidden nature. In harmony with this interpretation, the present-day crisis is nothing but a revealing a conflict of reality interpretations.
Keywords: domino effect, failre of regulating mechanisms, real-life economy,
Greece, civil society
JEL: A 14, E 32, E 42, E 52, B 41, B 52
str./p. 352-361

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Aleksander Suseł, Paweł Żukowski - FERTILITY OF IMMIGRANTS AND NON-IMMIGRANTS IN THE UNITED STATES

 

Abstrakt/Abstract: The paper deals with fertility determinants in the populations of immigrants and non-immigrants in the United States. We consider the following determinants: age, marital status, education, religion, and race and Hispanic origin. The analyses show that a relation between fertility and place of birth was statistically significant in both populations, women and men. We prove that migration is a major source of variation in fertility between immigrants and non-immigrants, which may lead to the postponement of maternity or marriage. Finally, we find that the duration of resi-dence is positively correlated with fertility among US immigrants.
Keywords: immigrant, non-immigrant, income, fertility, USA
JEL: A 13, J 13
str./p. 362-377

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Slavoj Czesaný - THE BUSINESS CYCLE IN THE CZECH REPUBLIC: TRENDS, CONTEXT AND ECONOMIC POLICY IMPLICA-TIONS

 

Abstrakt/Abstract: The goal of this analysis of the current business cycle in the Czech Republic is to identify the causes and consequences of fluctuations in economic activity in the period 2000–2009. The paper deals with the 2000–2007 expansion phase and the 2008–2009 contraction phase of the business cycle. A description of the links between changes in the economic environment, the nature of the demand and supply side of the economy and the character of the external and internal balance provides the economic framework for the analysis. Segmentation of supply and demand into its components enables us to identify their sensitivity to the business cycle. Special emphasis is put on the indicators of internal and external balance, which signal in advance the possibility of an economic slowdown or a drop in economic activity. The objective of this analysis is also to identify the position of the Czech Republic in international comparison as regards macroeconomic indicators connected with the monitoring of the business cycle. A macroeconomic forecast and economic policy implications form the last part of this article.
Keywords: economic cycle, financial crisis, recession, gross domestic product, demand components, supply components, sources of  
growth, monetary policy, fiscal policy, employment policy, economic outlook
JEL: E 21, E 23, O 11
str./p. 378-405

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Renáta Myšková, Ivana Linkeová - INDEX FINANČNÍHO ZAJIŠTĚNÍ OBYVATEL

 

Abstrakt/Abstract: Assessing the level of the region is possible through a series of indicators evalua-ting economic, social or environmental areas. The article emphasizes the economic aspect and focu-ses on the definition and simulation of the new index – the financial security index of inhabitants. The model is created in Microsoft Excel and real statistical data of the Pardubice Region were used for the inquiry.
Keywords: economic level, the Index of financial security of inhabitants/population financial security index, mathematical model
JEL: G 22, E 44, C 5
str./p. 406-417

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Jozef Čimo - ÚLOHA INOVATÍVNEHO MARKETINGU V KOMPLEXNEJ INOVAČNEJ STRATÉGII

 

Abstrakt/Abstract: The paper deals with the role and place of marketing in innovation process. The role of marketing is innovation process is indispensable. The first part deals with the theoretical explanation of innovation importance, innovation strategies, their creation and implementation. The second part deals with the integrating function of marketing and innovative marketing when designing the innovation strategy. This view highlights the function of marketing in product life-cycle and links research and technical preparation of production with potential users of products.
Keywords: innovations, innovation process, innovation strategy, marketing, marketing
strategy
JEL: M 31, B 83
str./p. 418-429

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Kateřina Hrazdilová Bočková - SOUČASNÝ INOVATIVNÍ MARKETING

 

Abstrakt/Abstract: The present paper deals with the issues of innovations in relation to customer. The impact of product changes on customer behaviour and the role of innovations in firm’s mana-gement are described; fundamental principles of innovative marketing, it course of action, and use in the present-day economic practice are depicted in the paper. Innovation strategy is linked to marketing, which results in an integration of innovation system and the area of the economy. The transformation of an innovating idea supported by marketing is defined as a competitive advantage; this is what enables the firm improve its position on the market and become more competitive.
Keywords: innovation, customer value, innovation
JEL: M 21, M 31, O 31
str./p. 430-438

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Jana Gašparíková - INOVÁCIE A ICH ZÁZEMIE

 

Abstrakt/Abstract: Innovations represent fundamental pillars for knowledge economy in general, its future development, but also for each country’s economic development. It is in the country’s best interest to underpin the real status quo of innovations in the Slovak Republic and their impact on the country’s future favourable or unfavourable economic development.
Keywords: regions, innovations, innovation policy
JEL: F 01, I 2, O 31, R 10
str./p. 439-450

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RECENZIE/REVIEWS

 


Pavel Vavrinčík
Thomasová, E.: Organizovanie (Organising)
str./p. 451
review/recenzia
Y 30


Juraj Silvan
Ivanička, K. et. al.: Overcoming Crisis - Creation of the New Model for Socio-Economic Development of Slovakia
str./p. 452-454
review/recenzia
Y30

 

INFORMÁCIE/INFORMATION


Marta Martincová
Knowledge-based Economy and Its Impact in Economics Theory and Economic Practice
str./p. 455
Information/informácia


Economic Review, Ekonomické rozhľady, abstracts/abstrakty, fulltext, volume/ročník 39, 2/2010, ISSN 0323-262X EV 4393/11

Jaroslav Kita, Pavol Kita, Marta Grossmanová - PRESENT APPROACHES OF ENTERPRISES TO OFFER WITHIN THE CUSTOMER-SUPPLIER RELATIONSHIPs IN THE SLOVAK INDUSTRIAL MARKET

 

Abstrakt/Abstract: Development of new business opportunities of enterprises assumes po-sitive decisions concerning offer within the customer-supplier relationships, which have an important task in development of competitiveness and making a long-term profit. The paper presents the results of research which has been done in the industrial enterprises in the terri-tory of the Slovak Republic. Its main aim is to clarify the present approaches of enterprises to offer from the aspect of its conformity with customers’ expectations and to verify the formula-ted hypotheses related to this issue.
Key words: industrial enterprise, customer-supplier relationship, offer, value, research
JEL: L 14
str./p. 159-175

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Ján Rudy, Jana Fratričová - CHANGES IN JAPANESE HUMAN RESOURCE MANAGEMENT SYSTEM PART I: CHANGES IN THE POST-WAR ERA


Abstrakt/Abstract: Lifetime employment, seniority system, Ringi system of decision making, and company trade unions are considered the typical characteristics or features of the tradi-tional Japanese approach to management. In reality, majority of these features are related to human resource management practice in Japan. The paper deals with changes in Japanese management practice in both the post-war era and the lost ten years’ era. The post-war era includes about three decades since the 1950’s till the end of 1980’s. Period of the 1990’s till the beginning of the 21st century is regarded the lost ten years’ era in Japan. It makes sense to separate these periods as large industrial Japanese companies operated in different busi-ness environments in both periods. Changes that occurred in the Japanese management practice during both periods, of course, reflected these differences. Accordingly, the paper is published in two parts. The first part deals with changes in the post-war era.
Key words: American management, human resource management, Japanese management, kanji, management theory, management practice, Ringi procedure
JEL: M 12
str./p. 176-191

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Mária Vojtková - HODNOTENIE ZAMESTNANOSTI V REGIÓNOCH KRAJÍN V4

 

Abstrakt/Abstract: The aim of this paper is to provide an analysis of regional employment in the V4 countries in the NUTS 2 (Nomenclature of Territorial Units for Statistics) in the year 2008 in comparison with the year 2004. This period is chosen mainly because of comparisons of the most recent data (2008) and those from the period of entry of the Visegrad countries into the European Union. The secondary aim of the paper is to describe the possibility of evaluating employment from a multi-dimensional aspect, i.e. to find hidden data dimensions. The second part of the paper contains a brief methodological description of the method that makes it possible to apply a multidimensional evaluation by means of main components to-gether with specific results of its application to employment in V-4 countries’ regions. The method applied enables us not only to evaluate selected regions but also helps to quantify
regional differences in levels of employment.
Key words: regional employment, Visegrad countries, multidimensional analysis, principal component analysis
JEL: J 21, C 49
str./p. 192-206

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Richard Outrata - KONKURENCIESCHOPNOSŤ A PROCES DOBIEHANIA METODOLOGICKÉ VÝCHODISKÁ

 

Abstrakt/Abstract: This paper deals with the main methodological issues as framework for elaborating a more detailed national approach to measurement and appreciation of competi-tiveness on the national economy’s level. The author identifies new global conditions for competitiveness agenda, i.e. new dimensions of competition, regional integration within the EU and the rise of the catching-up process in new EU member states. Competitiveness con-cept is defined in a broader framework, through shifting the competitiveness agenda, to the national economy level apart from the firm’s level, and taking into account technological and productivity, social and environmental dimensions of competitiveness as key parts of this concept. In measuring and appreciating the catching-up process development, the author prefers the competitiveness approach as one that is more objective, compared with the macroeconomic analysis one. The delimitation of the mutual relation between competitiveness and knowledge-based economy phenomena and a useful distinction made between nominal and real convergence, as well, in the framework of the whole catching-up process are further metho-dological issues considered in this paper.
Key words: catching-up process, competitiveness on firm’s and national economy level, knowledge based economy, country’s aspiration in catching-up
competitiveness process
JEL: E 60, F 43, O 10, O 11
str./p. 207-218

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Peter Markovič, Michal Šinský, Peter Šinský - VPLYV FENOMÉNU INFORMAČNÉHO UKOTVENIA NA PROCES ROZHO-DOVANIA – EXPERIMENTÁLNA ŠTÚDIA

 

Abstrakt/Abstract: Many lab and field studies have demonstrated that in judgments under uncertainty, e.g. for estimating unknown quantities, individuals start froman initial value (the anchor) and adjust this upwards or downwards to account for the information they have avai-lable. This heuristic (simple rule of thumb) is known as anchoring and adjustment heuristic, first developed by Tversky & Kahneman (1974). Unfortunately, the use of this heuristic leads to insufficient adjustments and final estimates are systematically and predictably biased. We examined anchoring bias in two experimental settings depending upon the type of available information (relevant information or irrelevant information). Finally, we confirmed anchoring bias as quite robust bias in our experimental settings.
Key words: anchoring effect, laboratory experiment, judgment and decision making, heuris-tic
JEL: C 81, C 91, D 80
str./p. 219-233

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Arnold Dávid, František Peller - ELASTICITA COBBOVEJ-DOUGLASOVEJ PRODUKČNEJ FUNKCIE

 

Abstrakt/Abstract: The aim of this article is to demonstrate a simple and easy mathematics related to some production functions. The statements relate to marginal analysis of basic economic functions, especially production functions.
Key words: economy, mathematics, price, revenue, optimalisation, elasticity
JEL: C 2, D 1, D 2, D 4
str./p. 234-245

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Pavlína Ivanová - INOVAČNÉ PROSTREDIE FÍNSKA

 

Abstrakt/Abstract: The main aim of the report is to show the relation between innovative policy, employment and economic growth in a small open economy that is a member of the EU. Actual employment factors and factors of economic growth have encountered their natu-ral boundaries and the innovative policy has become a decisive generator for workplaces creation. Small economies have an extra hindered situation, as the national market is too small and the size of resources from public finances is limited. In regard to this fact, Finland is an example for the EU. Beside this, Finland is not so dependent on transnational corporations (TNCs) as for example Slovakia. On a long-term period basis Finland creates conditions fo-rinnovative development. The comparison of Slovakia and Finland is very interesting not only when speaking about innovations and pro-innovative climate, but also considering its impacts on development of national employment. This is directly connected with the new 2020 EU agenda. Apart from this, the social climate in Finland strongly reduces corruption, black and grey economy, which supports the law enforcement and transparency in public finances, and this is also an important aspect of its success. It is also being proved that an appropriate cre-ation of state budget surplus in times of expansion in a good social climate of the society is an important source of growth and employment support in times of recession. In compari-son with the time period of the 90’s, Nowadays Finland is minimally indebted and the ratio of net loans size of the state to the GDP is 0.5%. Slovakia also shows an acceptable rate of the national indebtedness value and the volume of net loans to GDP is at 20 %. The problem is that Slovakia is dependent on the production of 22 TNCs that realize their production in Slo-vakia and so determine the development of the Slovak economy in a fundamental way. If Slovakia wants to emancipate from this dependence, it has to go the way as Finland did, the way of innovation and education support to be able to offset its handicaps, just like Finland did.
Key words: innovations, innovative transformation, employment, economic growth, educa-tion, corruption, social climate, technological progress, requalification, pro-innovative infra-structure
JEL: O 31, O 32
str./p. 246-257

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Eleonóra Matoušková - SPOTREBA POTRAVÍN V SR A ICH KVALITA


Abstrakt/Abstract: The main goal of agricultural production is to secure the provision of suf-ficient quantity of good quality, health-friendly foodstuffs to nourish the population. The paper deals with the question of the quantity and structure of consumption, consumer expenditures for foodstuffs in Slovakia and EU-15. In Slovakia the expenditures spent on the purchase of foodstuffs are double of EU-15. On the basis of the comparison of the quantity of individual categories of foodstuffs consumed with suggested quantities we conclude that eating habits of the Slovak population as well as those of EU-15 population are not healthy.
Key words: consumption habits, consumption expenditures on foodstuffs, suggested daily consumption of foodstuffs, health standards
JEL: Q 11, Q 13, Q 19
str./p. 258-267

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Jozef Mihalik - KRÍZA A STROSKOTANIE MODELU NEOLIBERÁLNEJ PODOBY KAPITA-LIZMU A TOTALITNÉHO SOCIALIZMU AKO VÝCHODISKO NOVÉHO, LEPŠIEHO MODELU KAPITALIZMU

 


Abstrakt/Abstract: The G20 Summit held in April 2009 started a new period of history, which will be characteristic of several versions of capitalism, free market and globalisation. The US–Anglo–Saxon model of capitalism will be one of them. The 2009 G20 Summit indicated the upcoming end of the US model of capitalism, dominant in the past years and referred to as a free market state formed by globalization across the world. Capitalism in itself should not be blamed for the crisis. The main responsibility should be found with neoliberal face of capitalism. The G20 Summit proved that economic power had shifted from the current eco-nomic
centres to eastern and southern parts of the world. China, Russia, India, South East Asia, and Latin America have decided to follow another path.
Key words: variants of capitalism, free market, globalization, US-Anglo-Saxon model of ca-pitalism, new economic and social model of capitalism
JEL: P 16
str./p. 268-279

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Vladimír Choluj - O POTREBE VEDECKÉHO PROJEKTU EKONOMICKEJ ENCYKLOPÉDIE

 

Abstrakt/Abstract: The present paper deals with ideas that arose from the use of the first editions of encyclopaedia of economics written by Slovak authors. The author presents his suggestions for analyzing terms and developing this way a logical arrangement of this kind of document, which would lead to a higher quality of future editions. On the basis of the analysis of form and content in several editions of Slovak encyclopaedia of economics, the author claims it would be efficient to adopt a new approach in subsequent editions – namely, apply methods used in a scientific project, extend the content, and apply a systemic approach in designing the structure of a new encyclopaedia in terms of arrangement of its basic parts, mainly explanatory sections. The author lists numerous cases when it would be suitable to work out
new definitions of concepts, proposes to use cross-referencing, work out a systemic hierar-chical arrangement of partial knowledge of a particular area of topics, which would avoid se-mantic gaps in the text, and suggests some lexicographic solutions that would contribute to the improvement of this kind of encyclopaedia as well as to a more efficient study of the knowledge base of economics.
Key words: encyclopaedia of economics, role of encyclopaedia, concept of encyclopaedia, prolegomena, lexical units, word associations, structure definitions, model definition, links between concepts, registers
JEL: A 33
str./p. 280-295

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RECENZIE/REVIEWS


Katarína Sakálová
PELLER, F. – STAREČKOVÁ, A. – PINDA, Ľ.: Matematika. Bratislava: Vydavateľstvo EKONÓM 2009, 358 s., ISBN 978-80-225-2698-2
JEL: Y30
str./p. 295

 

Elena Kašťáková
ŠKORVAGOVÁ, S. – ZORKÓCIOVÁ, O.: Perspektívy vývoja medzinárodného marketingu. Bratislava: Vydavateľstvo EKONÓM, 2009, 312 s.
ISBN 978-80-225-2562-6
JEL: Y30
str./p. 296

 

Rudolf Šlosár
GONDA, V. a kolektív: Metodika vedeckej práce. Bratislava: Vydavateľstvo EKONÓM 2009, 252 s., ISBN 978-80-225-2797-2
JEL: Y30
str./p. 297-298

 

INFORMÁCIE/INFORMATION


Mária Husáková
Nové výzvy pre sociálnu politiku v období globálnej krízy
str. /p. 299-300

Economic Review, Ekonomické rozhľady, abstracts/abstrakty, fulltext, volume/ročník 39, 1/2010, ISSN 0323-262X EV 4393/11


 

Miroslav Grznár, Ľuboslav Szabo - Výkonosť a produktivita slovenského poľnohospodárstva po vstupe do Európskej únie


Abstract/Abstrakt: After Slovakia's admission to the European, the Slovak agriculture defined its multifunctional mission: apart from the provisioning of agricultural commodities for the nourishment of population, the use of sources allocated to this sector, the focus will also be on externalities, e.g. environmental protection and support of rural activities and life in the country. The focus of the paper is on the analysis of production function in the long-term perspective: first of all, on those areas where Slovakia lags behind the most developed EU countries in terms of efficiency and productivity of business companies – corporate entities. The analysis has confirmed that the lag persists, and our companies are still behind the average of EU–15, also in terms of the indicators of performance and productivity. An increasing support from EU sources and also from the state budget is not adequately reflected in the increase of efficiency of market-oriented companies operating in production conditions.
Key words: multifunctional mission, performance and productivity of company, disparity of economy, farmers’ cooperation, business company
JEL: Q 12, Q 13
str./p. 7-21

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Dagmar Lesáková, Markus Reheis - Analysis of customer relationship development

 

Abstract/Abstrakt: The focus of this paper is on customer relationship development. The goal of our research study was to identify and analyse the indicators of customer relationship development in human resources recruitment / leasing companies. The indicators were made sequentially operational in order to translate customer relationship development into specific activities designed to increase business performance. The final purpose of the research is to determine the strength of the relationship between business performance and customer relationship. This paper presents the research results and discusses the appropriateness of the customer relationship indicators applied in human resources recruitment companies. It is a part of the research project VEGA 1/0652/10.
Key words: customer focus, market orientation, business performance, customer satisfaction
JEL: M 15
str./p. 21-30

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Daria Rozborilová - MODIFIKÁCIA VEĽKOSTI, ŠTRUKTÚRY A ALOKÁCIE ÚSPOR DOMÁCNOSTÍ A JEJ SÚVISLOSTI1


Abstract/Abstrakt: The declining interest on the part of many countries in the creation of savings combined with the effects of financial and economic crisis at the beginning of the 21st century increases the urgency of the reverse of this negative trend. This is because no economy can be independent, efficient and competitive in the long term, if does not have its own adequate resources. The aim of this paper is to highlight the ambiguity of perceiving the conditional nature of savings, investment, economic growth and prosperity, the ambiguity of the impact of the particular individual determinants that affect the formation, size, structure, and allocation of savings. The general tendency of underestimating the creation of savings requires a solution in global context: cooperation between academics and practitioners in designing measures that would motivate the creation of the savings, the modification of their structure as well as their rational allocation.
Key words: determinants of savings, household saving rates, structure of savings,allocation of savings, economic growth, welfare
JEL: D 1, D 31, E 21
str./p. 31-48

 

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Vít Pošta - Co-integration Tests of Exchange Rate Parity Conditions and a Monetary Model of Exchange Rate : Evidence from the Czech Republic,Hungary, Poland, and Slovakia


Abstract/Abstrakt: Purchasing power parity and uncovered interest rate parity conditions are both an important building block of any modern approach towards the theory and modelling of exchange rate behaviour. Empirical analyses for these conditions across developed and “stable” economies render mixed results. An interesting question to ask is whether and to what extent the exchange rate behaviour is in accordance with these conditions in emerging foreign exchange markets. In addition to testing the conditions themselves, the paper also tests the relationship between exchange rates on the one hand and interest rates and rates of inflation on the other hand within the context of a basic monetary model of exchange rate. Regarding the time series properties required for testing the parity conditions, co-integration and vector error correction model are acceptable. The focus in this paper is laid on the most developed non-euro (by the end of 2008) countries which entered the European Union in 2004.
Key words: co-integration, monetary model, purchasing power parity, uncovered interest rate parity, VECM
JEL: E 44, F 41, C 32
str./p. 49-66

 

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Magdaléna Přívarová - PRÍSPEVOK TEÓRIE REGULOVANIA K POŇATIU HOSPODÁRSKYCH KRÍZ

 

Abstract/Abstrakt: The Regulation School looks at the capitalist economy as a historically specific system of capital accumulation, as a function of social and institutional systems. Regulationist economists distinguish between cyclical crisis and structural crisis. (They study only structural crisis.) On the basis of this differentiation, the regulationists have developed a typology of crises (the exogenic crises, the endogenous crises, the crisis of the mode of regulation, the crisis of the mode of accumulation, and the crisis of the mode of production) which gives an account of various disarrangements in the institutional configuration.
Key words: Regulation School, institutionalism, regimes of accumulation, modes of regulation, degree of stability, Fordism, cyclical crisis and structural crisis, institutional forms.
JEL: E 32, G 21, E 12
str./p. 67-75

 

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Karol Szomolányi, Martin Lukáčik, Adriana Lukáčiková - PROBLÉM DÔVERYHODNOSTI A TEÓRIA HROZBY TRESTU V MONETÁRNEJ POLITIKE


Abstract/Abstrakt: The paper offers an explanation of the inflation by time inconsistency of the monetary policy problem. The central bank has an incentive to raise the production above its potential level, and it systematically generates an inflation bias. A low inflation may be sustained (inter alia) by punishment equilibria. The monetary policymaker maximises the welfare of society subject to the structure of the economy in an indefinite time horizon. The inflation bias represents a benefit today but cost in the future. The more important the future is for the society, the lower the central banker's incentive is to deviate.
Key words: time consistency of the monetary policy, inflation bias, punishment equilibria
JEL: E 51, E 52
str./p. 76-86

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Viera Čihovská - EUROMARKETING – MANAŽÉRSKA KONCEPCIA PRE EURÓPSKY TRH

 

Abstract/Abstrakt: The present-day European Union includes many different countries, which differ in terms of their economic development, size, cultures, languages, religions, customs and habits, and history. The main aim of the EU is to make up an economic and currency union that is competitive under conditions of the global economy. Consequently, in the course of integration process an important role is to be played by the support of the competitiveness of all the EU member countries, including competitiveness of companies in these countries, and creating a uniform European market; this is the very area where the European marketing
may be found to be very helpful.
Key words: European Union, European marketing, marketing conception, global marketing, intercultural marketing, segmentation, convergency, divergency
JEL: J 11, A 1
str./p. 87-100

 

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Richard Melišek - EURÓPSKA ÚNIA A REGIONÁLNE OBCHODNÉ DOHODY


Abstract/Abstrakt: The EU ascribes a great significance to external economic relations and to the common trade policy. The common trade policy is based on unified export policy principles, setting of customs tariffs, unification of liberalisation measures, and also on the closing of negotiated trade agreements. Regional trade agreements (RTAs) help in the liberalisation of the world trade and are important in the relations of EU member countries with third countries. The contractual parties provide different trade preferences on the basis of these agreements. In the current period the members of these agreements are involved in approximately 40 % of the world’s trade exchange. On the basis of these arguments the author analyses the issues of RTAs. The focus of the paper is on the characteristics, analysis and evaluation of the following agreements:
• EU–Mercosur Association Agreement
• EU–Andean Community of Nations Cooperation Agreement
• EU–ACP (Africa, the Caribbean, the Pacific) Countries Partnership Agreement
• Agreement on Economic Cooperation between the EU and CARIFORUM (Forum of the Caribbean ACP States)
Key words: European Union, World Trade Organization, liberalisation of trade, regional trade agreements, Mercosur, Andean Community of Nations, African, Caribbean and Pacific Countries, Cariforum
JEL: F 13, F 14, O 24, O 52, O 54, O 56
str./p. 101-119

 

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Miroslava Szarková - ŠTRUKTÚRA VNÚTROPODNIKOVÝCH KOMUNIKAČNÝCH NÁSTROJOV V PODNIKOCH PôSOBIACICH V SR

 

Abstract/Abstrakt: Communication tools, their selection and content and their use in practice are closely interconnected and create the base of the internal (intra-company) communication. In domestic and foreign sources, these skills are referred to as the key factors that enter internal (intra-company) systems and company management processes and regulate, accelerate and improve them to various extent. Their importance is rising with the advancing internationalisation and globalisation processes in the economic sphere. These developments radically affect the external environment in which companies communicate. At the same time, the internal environment is changing, while its cultural and language heterogeneity is changing. The present paper deals with these problems. Its aim is to monitor the communication tools in the small and medium-sized companies in the Slovak Republic; it classifies them and reveals their basic features, communication noise and communication filters, and the frequency of their use in internal communication flows. The research described in the paper was carried out under the VEGA project 1/4591/07.
Key words: communication tools, structure, classification, e-communication tools, classic communication tools, communication filter, communication noise
JEL: D 23
str./p. 120-132

 

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RECENZIE/REVIEWS


Jana Mikócziová
SIVÁK, R. – GERTLER, Ľ. – KOVÁČ, U.: Riziká vo financiách a v bankovníctve. Bratislava: Sprint dva, 2009, 345 s., ISBN 978-80-89393-03-9.
JEL: Y30
str./p. 133-134


Vladimír Gonda
MENBERE T. WORKIE a kol.: Vývoj a perspektívy svetovej ekonomiky: Globálna finančná a hospodárska kríza. Príčiny – náklady – východiská. Bratislava: EÚ SAV, 2009. 284 s. ISBN 978-80-7144-175-5.
JEL: Y30
str./p. 134-135

Natália Vašková
KRUGMAN, Paul: Návrat ekonomické krize. Vyšehrad, spol. s r.o., 2009. ISBN 978-80-7021-984-3.
JEL: Y30
str./p. 135-139


Ľubomíra Gertler
PETR DOSTÁL: Pokročilé metody analýz a modelování v podnikatelství a veřejné správě. Brno: AKADEMICKÉ NAKLADATELSTVÍ CERM, s. r. o., 2008. 340 s. ISBN 978-80-7204-605-8.
JEL: Y30
str./p. 139-141


Ľudmila Velichová
NOVÁK, J.: Didaktika personalistiky. Bratislava: Vydavateľstvo EKONÓM, 2009, 234 s.
JEL: Y30
str./p. 141

Darina Orbánová
KOMPOLTOVÁ, S.: Pedagogika. Bratislava: Vydavateľstvo EKONÓM, 2009, 219s.
JEL: Y30
str./p. 142


Elena Thomasová
MAJTÁN, M.: Projektový manažment. Bratislava: Vydavateľstvo Sprint dva, 2009, 299 s. ISBN 978-80-89393-05-3.
JEL: Y30
str./p. 143-146

INFORMÁCIE/INFORMATIONS

 


Alžbeta Ivaničková
Znalostná ekonomika a spoločnosť – väzby, siete, impulzy
str./p. 147-151


Miriam Lovászová
Cena rektora Ekonomickej univerzity v Bratislave za publikačnú činnosť v roku 2009
str. 151-152