abstracts - vsb.cz · abstracts 16-18 september 2009 trojanovice . 1 content consistency of tax...
TRANSCRIPT
VŠB - TECHNICAL UNIVERSITY OF OSTRAVA - Faculty of Economics
SILESIAN UNIVERSITY IN OPAVA - School of Business Administration in Karviná
ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES
(Hospodářská politika v zemích EU)
Proceedings from the 7th
International Conference
ABSTRACTS
16-18 September 2009
Trojanovice
1
Content
CONSISTENCY OF TAX CHANGES AND ITS APPLICATION TO THE CZECH REPUBLIC ......................................... 4
IGOR KOTLÁN
THE END OF TAX HAVENS? ................................................................................................................................................. 4
PAVEL PETR
HIGH TAXATION OF LABOUR – THE PROBLEM OF THE CURRENT TAX SYSTEMS ................................................ 5
MARCELA PRAUSOVÁ
HARMONIZATION OF INDIRECT TAXES AND SUBSIDIARITY – WHAT IS THE REALITY? .................................... 5
ZDENĚK ŠREIN
PROSPECTS FOR FOREIGN DIRECT INVESTMENT IN TIMES OF ECONOMIC CRISIS .............................................. 6
MARTIN ŠTĚPÁNEK
CURRENT PROBLEMS IN THE LABOUR MARKET........................................................................................................... 6
PETR ADÁMEK
THE STRUCTURE AND FACTORS OF LONG-TERM UNEMPLOYMENT IN THE MORAVIAN-SILESIAN REGION,
THE POSSIBILITY OF INFLUENCING ITS LEVEL USING THE INSTRUMENTS OF ACTIVE LABOUR MARKET
POLICIES .................................................................................................................................................................................. 7
JIŘÍ BALCAR
MILAN ŠIMEK
EXPECTATIONS OF COLLEGE STUDENT ABOUT THEIR OWN BUSINESS ................................................................. 7
MARTA FLEŠKOVÁ, BARBORA BABIAKOVÁ
RISK GROUPS OF PERSONS IN THE LABOUR MARKET ................................................................................................. 8
BARBORA FRIEDLOVÁ
LABOUR MIGRATION IN THE CZECH REPUBLIC IN THE CONTEXT OF ECONOMIC CRISIS ................................. 8
MILADA HORÁKOVÁ
ANALYSIS OF UNEMPLOYMENT IN SLOVAKIA USING THE PYRAMID MODEL...................................................... 9
ĽUBICA HURBÁNKOVÁ
IS INVESTING IN EDUCATION THE PATH TO ECONOMIC GROWTH? ........................................................................ 9
ZUZANA MACHOVÁ
THE IMPACT OF ROAD INFRASTRUCTURE ON EMPLOYMENT AND UNEMPLOYMENT ..................................... 10
JANA MASÁROVÁ
EFFECTS OF THE ECONOMIC DOWNTURN ON THE SLOVAK LABOUR MARKET ................................................. 10
LENKA MICHALIČKOVÁ
ACTIVE INCLUSION – A TOOL FOR ALLEVIATING AND ERADICATING POVERTY AND SOCIAL EXCLUSION
................................................................................................................................................................................................. 11
SILVIA OŠKOVÁ
THE IMPACT OF HEALTH CARE REFORM ON EMPLOYMENT IN THE HEALTH SECTOR..................................... 11
MICHAELA PECHOVÁ
ALTERNATIVE MODELS OF SOCIAL ECONOMY ........................................................................................................... 12
EVA PONGRÁCZOVÁ
FLEXICURITY – CHALLENGE TO IMPROVE CZECH LABOUR MARKET .................................................................. 12
ZUZANA POTUŽÁKOVÁ
DISADVANTAGED GROUPS OF CITIZENS IN THE LABOUR MARKET ...................................................................... 13
JANA ŠTRANGFELDOVÁ
2
THE SITUATION OF POLISH CONSTRUCTION INDUSTRY UNDER THE FINANCIAL CRISIS - SELECTED
PROBLEMS ............................................................................................................................................................................. 13
PIOTR TWOREK
EFFECTS OF THE ENDOGENEITY IN THE EUROPEAN MONETARY INTEGRATION PROCESS ............................ 14
PAVLA BEDNÁŘOVÁ
ON INSURANCE MARKET AND COMMERCIAL INSURANCE OF ENTREPRENEURS IN SLOVAKIA ................... 14
BARBORA DRUGDOVÁ
FINANCIAL CRISIS AND THE CZECH REPUBLIC'S ENTRY INTO THE EURO-AREA ............................................... 15
MOJMÍR HELÍSEK
THE FUNCTIONING OF THE ORIGINATE-TO-DISTRIBUTE MODEL IN LIGHT OF THE GLOBAL FINANCIAL
CRISIS ..................................................................................................................................................................................... 15
ZUZANA KUČEROVÁ
INFLATION TARGETING AND ITS IMPORTANCE .......................................................................................................... 16
HANA POLÁČKOVÁ
IS FLOATING EXCHANGE RATE ADVANTAGEOUS IN TIMES OF FINANCIAL AND ECONOMIC CRISIS? ......... 16
PETR TOMAN, LUBOR LACINA
AN ANALYSIS OF THE IMPACT OF THE EUROPEAN CONVERGENCE PROCESS ON INTERNATIONAL
INVESTMENTS IN THE NEW EU MEMBER COUNTRIES ............................................................................................... 17
VÁCLAV ŽĎÁREK
CHRISTIAN FRIEDRICH
ECONOMIC DEVELOPMENT OF THE NEW EU MEMBER COUNTRIES IN ECONOMIC CRISIS .............................. 17
VLASTA ADÁMKOVÁ
THE SIGNIFICANCE OF INFORMATION IN SOCIAL SPACE IN THE EUROPEAN UNION ....................................... 18
BOGUMIŁA BARAŃSKA
MIGRATION AND DEVELOPMENT: A CHALLENGE FOR EUROPE? ........................................................................... 18
LENKA FILIPOVÁ
THEORETICAL ASPECTS OF COMPETITIVE ADVANTAGE AND COMPETITION .................................................... 19
IVANA HUDÁKOVÁ
FINANCING OF SMALL AND MEDIUM ENTERPRISES IN SLOVAKIA ....................................................................... 19
EVA IVANOVÁ
CHALLENGES OF INFORMATION TECHNOLOGIES IN THE GLOBAL INFORMATION SOCIETY ......................... 20
MILENA JANÁKOVÁ
THE STRUCTURE OF EUROPEAN ECONOMIES IN TERMS OF INTERSECTORAL FEEDBACKS ........................... 20
MILAN KAŠTAN
ADAM SMITH AND THE CURRENT ECONOMIC CRISIS ............................................................................................... 21
CHRISTIANA KLIKOVÁ
COSTS AND CONSEQUENCES OF CORRUPTION – INITIAL EMPIRICAL ANALYSIS .............................................. 21
EVA KOTLÁNOVÁ
IMPACTS OF CRISIS OF 2008-2009 ON THE EU ECONOMY .......................................................................................... 22
IRAH KUČEROVÁ
INTERNATIONAL EVALUATION STANDARDS IN THE CONTEXT OF INTERCONNECTING THE WORLD
ECONOMY ............................................................................................................................................................................. 22
VERONIKA LITTVOVÁ
ELECTRONIC INSURANCE SERVICES AS PART OF FINANCIAL SERVICES ............................................................. 23
ZUZANA LITTVOVÁ
3
SOCIAL ACCEPTANCE AND ASSESSMENT OF POLAND’S MEMBERSHIP IN THE EUROPEAN UNION .............. 23
RENATA MAĆKOWSKA
SELECTED PROBLEMS OF THE PRESENT AND FUTURE OF THE GLOBAL ECONOMY AND THE ECONOMIC
POLICY OF SLOVAKIA ........................................................................................................................................................ 24
MARTIN MATUŠOVIČ, MONIKA MATUŠOVIČOVÁ
CORPORATE DESIGN OF MANAGEMENT FACULTIES IN SLOVAKIA ...................................................................... 24
JURAJ MIŠÚN
EUROPE'S POSITION IN THE WORLD ECONOMY AND THE GLOBAL ECONOMIC CRISIS ................................... 25
PAVEL NEZVAL
A NEW VISION FOR THE SINGLE MARKET AND ITS IMPORTANCE FOR THE EU'S POSITION IN THE GLOBAL
ECONOMY ............................................................................................................................................................................. 25
JAROSLAV ŠUCHMAN
FOREIGN DIRECT INVESTMENT – THEORETICAL APPROACHES AND PRACTICAL ASPECTS ........................... 26
JUDITA TÁNCOŠOVÁ
PROPERTY RIGHTS AND ECONOMIC PROSPERITY – AN INSTITUTIONAL VIEW .................................................. 26
MICHAELA TICHÁ
REAL CONVERGENCE BETWEEN THE CZECH REPUBLIC AND THE EUROZONE IN TIMES OF ECONOMIC
CRISIS ..................................................................................................................................................................................... 27
PAVEL TULEJA
REAL AND NOMINAL CONVERGENCE IN THE VISEGRAD COUNTRIES .................................................................. 27
MICHAL TVRDOŇ
CREDIT RATING AGENCIES AND THE ECONOMIC CRISIS ......................................................................................... 28
NATALIE UHROVÁ
INNOVATION, ITS EFFICIENCY AND MEANING ............................................................................................................ 28
TOMÁŠ VERNER
PERFORMANCE MANAGEMENT AND HUMAN CAPITAL IN THE CONTEXT OF ECONOMIC TRENDS .............. 29
JOSEF VODÁK
GLOBAL CRISIS – BETWEEN CHAOS AND CONTROL .................................................................................................. 29
PETR VYMĚTAL
CRISIS, RESPONSIBILITY AND THE FUTURE OF EUROPE ........................................................................................... 30
PETR WAWROSZ
DOES INSTITUTIONAL ECONOMICS HAVE ANSWERS TO THE CAUSES, COURSE AND SOLUTION OF THE
CRISIS? ................................................................................................................................................................................... 30
MILAN ŽÁK
4
CONSISTENCY OF TAX CHANGES AND ITS APPLICATION TO
THE CZECH REPUBLIC
Igor Kotlán VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21 Ostrava 1
+420 597322161
KEYWORDS
Taxation, Tax Misery Index, Business Tax Index
ABSTRACT
The aim of this paper is to evaluate selected tax changes in 2007-2009 in the area of corporate
taxation from the perspective of the theory of the time, resp. dynamic inconsistency. This
analysis is necessary, in the opinion of the author, to evaluate the benefits or losses that
potential and actual tax amendment will bring. This type of analysis must be logically a
methodological complement to nomological considerations and legal opinions relating to tax
changes. Based on the results, the author recommends policy makers to consider the
credibility and reputation they have in the area of tax policy and tax reforms. This is certainly
different for different types of taxes. Rationally behaving actor on the basis of past experience
and utilization of all available information expects e.g. changes and amendments to the
income tax of individuals, but in the long run is optimistic about the nominal tax rate of the
corporate income tax.
THE END OF TAX HAVENS?
Pavel Petr Vysoká škola báňská – Technická univerzita Ostrava, katedra společenských věd
Dr. Malého 15, 702 00 Ostrava
+420 597321729
KEYWORDS
Tax Havens, G20, International Tax Planning, Offshore Company
ABSTRACT
The issue deals with the problemacy of tax havens and its future after the Group of Twenty
Finance Ministers and Central Bank Governors (hereinafter G20) meeting in London (August
2009). G20 declared growing pressure on countries provided the tax shelter legislation e.g.
Cyprus, British Virgin Islands, Republic of Seychelles, Republic of Panama etc. It is
estimated that even 9.000 czech firms has its seat in tax havens countries. The detection of tax
crimes (e.g. tax evasion) commited by such firms or its corporate bodies, is embarassed by the
misconduct of state authorities which is ironically conform to the law. We emphasize the
ways of legal adoption a and legal circumstances of tax shelters legislation.
5
HIGH TAXATION OF LABOUR – THE PROBLEM OF THE
CURRENT TAX SYSTEMS
Marcela Prausová Obchodně podnikatelská fakulta v Karviné
Univerzitní náměstí 1934/ 3, 733 40 Karviná
+420 596398111
KEYWORDS
Personal Pension Taxes, Taxpayer, Tributariness, Unemployment
ABSTRACT
This document will introduce an area of income taxation of dependent activity for individuals
in the Czech Republic with resulting comparison of tax liability in selected countries of EU.
Determines basic components of tax payment liability and will introduce a method of
dependent activity tax calculation in connection with super gross wage implementation and
equal 15% tax. Specifies total tax burden of individuals and performs cross-impact analysis
with selected country. In conclusion will underline an impact of income taxation of
individuals from dependent activity on the employment market, motivation or demotivation of
employees to look for a job.
HARMONIZATION OF INDIRECT TAXES AND SUBSIDIARITY
– WHAT IS THE REALITY?
Zdeněk Šrein J.E.Purkyne University, Dpt. of economics
Moskevská 54, 400 96 Ústí nad labem
+420 235323905
KEYWORDS
Value Added Tax, Tax Competition, Labour Intensive Services
ABSTRACT
The tax-competiton has remained an important feature of the Internal Market even in spite
of its known negative effects. A far-reachning harmonizatiton of direct taxes is still
impossible at present and even in the future, as long as the Member States emphasize their
state sovereignity. As for the indirect taxation: in my view, the subsidiarity principe is widely
neglected when the some detailed aspects of the VAT policy are analyzed. This refers, in
particular, to the the reduced VAT rates applied on labour intensive services. The
Community should ont intervene in this area at all.. Such services have not any impact on the
fairt competiton within the Internal Market .
6
PROSPECTS FOR FOREIGN DIRECT INVESTMENT IN TIMES
OF ECONOMIC CRISIS
Martin Štěpánek VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21 Ostrava 1
+420 597322329
KEYWORDS
Foreign Direct Investment, Perspective, Czech Republic, Economic Policy
ABSTRACT
According to global economic crisis foreign direct investment inflows dropped dramatically.
Even the perspective for future recovery is still unsure. The competition between countries for
needed capital is very high. Crisis also has strong negative impact on investment plans and
has uneven impact on particular sectors. The primary sector and services face better FDI
prospects than manufacturing. The impact also vary by regions, Western Europe and North
America remain major investment targets, while the attractiveness of Eastern Europe
particularly weakened. Region of East, South and South-East Asia continue to be top priority
for FDI, the rankings for Latin America and West Asia have improved. This situation leads to
changes in economic policy.
CURRENT PROBLEMS IN THE LABOUR MARKET
Petr Adámek VŠE, Faculty of Business Administration
Nám. Winstona Churchilla 4, 130 06 Prague 3
+420 224 098 345
KEYWORDS
Rate of Unemployment, Long-Term Unemployment, Active Policy of Unemployment
ABSTRACT
It is very strong assumption that impact of contemporary word crisis to Czech labour market
will accelerate in next period, especially in the year 2010. Demonstration of this development
will be increase rate of unemployment and worsen regional and structural disbalances in
Czech labour market. A special problem is part of long term unemployment (more than 40%)
which has been reduced only slightly. Among the long-term unemployment are people only
with an elementary education. One of the most important method for reducing rate of
unemployment is active policy of unemployment which can bring down specially structural
disbalances of labour market, too. Latest trends and also financial securing are explained in
text.
7
THE STRUCTURE AND FACTORS OF LONG-TERM
UNEMPLOYMENT IN THE MORAVIAN-SILESIAN REGION,
THE POSSIBILITY OF INFLUENCING ITS LEVEL USING THE
INSTRUMENTS OF ACTIVE LABOUR MARKET POLICIES
Jiří Balcar RPIC-VIP s.r.o.,
Výstavní 2224/8, 709 00, Ostrava
+420 597479272
Milan Šimek VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21, Ostrava 1
+420 597322402
KEYWORDS
Labour Market, Long-term Unemployment, Region, Active Labour Market Policy
ABSTRACT
This paper is focused on the analysis of personal characteristics of long-term unemployed
people in the Moravian-Silesian region from the perspective of their belong to the so-called
risk groups on the labour market. Findings flowing from the analysis will be further used in
discussion on real possibilities and limits of instruments of active employment policy.
EXPECTATIONS OF COLLEGE STUDENT ABOUT THEIR OWN
BUSINESS
Marta Flešková, Barbora Babiaková Ekonomická fakulta, Univerzita Mateja Bela v Banskej Bystrici
Tasovského 10, 975 90, Banská Bystrica
+421 4462651, +421 4462617
KEYWORDS
Students, Business, Notions, Employment, Personality Characteristics
ABSTRACT
The content of studies at university with economic scope prepares students not only for
employment in state or private organizations but guides them also to utilise opportunities to
start their own business. In the article authors present results of research realized on the
sample of university students in master degree. As the research method was used
questionnaire and personality inventory NEO FFI. The research was oriented on the
determination of students’ attitude to their own businesses and notions about starting their
own business. We also admired to find out if there are some differences in personality
8
characteristics BIG FIVE between students who consider about their own business after
graduation and students who prefer job as employee.
RISK GROUPS OF PERSONS IN THE LABOUR MARKET
Barbora Friedlová Probační a mediační služba ČR
Nádražní 20, 792 01 Bruntál
+420 737856386
KEYWORDS
Disadvantaged Groups, Human Capital, Labour Market, Unemployment
ABSTRACT
There are groups of people on the labour market in the frame to become unemployed or even
long-term unemployed. Concerned are among others mainly graduates, handicapped people,
people older than 50, low-qualified people or people without qualification at all. These people
represent a serious problem for the labour market as well as economics. They easily loose a
job and hardly find a new one. In that time they do not bring to the state any value, on the
other hand they are draining public money via allowances and social security benefits. It is
necessary to stimulate and motivate them and increase their possible utilization on the labour
market. One way to reach it is to increase of their human capital, i.e. their additional gradual
education.
LABOUR MIGRATION IN THE CZECH REPUBLIC IN THE
CONTEXT OF ECONOMIC CRISIS
Milada Horáková Výzkumný ústav práce a sociálních věcí
Palackého nám. 4, 128 00, Praha 2
+ 420 224972673
KEYWORDS
Labour Market, Labour Migration, Economic Crisis
ABSTRACT
The contribution concerns labour migration and labour market developments during the
period of existence of the independent Czech Republic in a context of economic
transformation and current economic crisis. The crisis changed also migration policy.
Migrations have inertia and policies always react with delays. External labour migration
decreased from December 2008 to March 2009 by about 21 thousand, but number of resident
permit holders increased from December 2008 to April 2009 by about 5 600. Anti-crisis
measures in neighbour countries such as scrap money can paradoxically counteract measures
adopted in the CR migration policy. The contribution tries to capture changes in labour
migration in the context of labour market. Contribution is based on data of CZSO, MoLSA,
MoIT, MoI, and Alien Police. It does not explicitly include grey economy.
9
ANALYSIS OF UNEMPLOYMENT IN SLOVAKIA USING THE
PYRAMID MODEL
Ľubica Hurbánková Ekonomická univerzita v Bratislave
Dolnozemská cesta 1, 852 35 Bratislava
+421 02/67295728
KEYWORDS
Number of Unemployed, Unemployment Rate, Rate of Economic Activity, Pyramidal Model
ABSTRACT
In this paper we analyse unemployment in Slovakia based on the indicator number of
unemployed in particular regions. We compared years 2003 and 2008 to find out an impact of
economic crisis in this area. We use for this analysis pyramidal model with the top indicator
number of unemployed. We reseach how is this indicator affected with particular factors –
unemployment rate, rate od economic activity, ratio of population aged 15 + and whole
population, whole population. We find out which factor causes an increase and which an
decrease of number of unemployed.
IS INVESTING IN EDUCATION THE PATH TO ECONOMIC
GROWTH?
Zuzana Machová VŠB – TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21, Ostrava 1
+420 597322328
KEYWORDS
Labour Market, Lisbon Strategy, European Employment Strategy, Human Capital, Education,
Lisbon Targets
ABSTRACT
As a part of Lisbon process, the Brussels European Council in 2003 agreed on five targets of
European Employment Strategy in the field of education and training to be reached by 2010
and, according to human capital theory, increase EU economic performance and global
competitiveness. The main three of them states that the percentage of early school leavers
should be at most 10 % on average, the European Union average level of participation in
lifelong learning should be at least 12,5 % of the adult working age population and that at
least 85 % of 22 year olds in the European Union should have completed upper secondary
education or higher. The article is aimed on how EU member states achieve the targets in
comparison to their labour productivity. Alternative concepts of cultural or social capital in
connection with economic performance are also mentioned.
10
THE IMPACT OF ROAD INFRASTRUCTURE ON
EMPLOYMENT AND UNEMPLOYMENT
Jana Masárová Alexander Dubcek University of Trencin, Faculty of Social and Economic Relations
Študentská 2, 911 50 Trenčín
+421 0327400496
KEYWORDS
Road Infrastructure, Employment, Unemployment, Region
ABSTRACT
The significant factor, which affects the economic level of countries and regions, is the road
infrastructure. Quality and branched road infrastructure is thinking of one of bearing pillar for
economic growth achieving, raise of competitiveness and prosperity. It has the big importance
for the mobility of labour power. It goes towards the raising the employment and decreasing
the unemployment. It supports to improve the social position of population and eliminates the
gaps of less development regions.
In this article we analyse the relation between the road infrastructure and the employment and
unemployment in Slovak republic.
EFFECTS OF THE ECONOMIC DOWNTURN ON THE SLOVAK
LABOUR MARKET
Lenka Michaličková Ekonomická univerzita, NHF, Katedra sociálneho rozvoja a práce
Dolnozemská cesta 1, 852 35 Bratislava 5
+421 910455913
KEYWORDS
Labour Market, Crises, Collective Redundancies, Company, Enterprise, Unemployment
ABSTRACT
The article deals with the consequences of the economic crises on the Slovak labour market.
In the period of the recession has happened some changes in the advancement of
macroeconomic ´s indicators which are deposed about the country ´s conditions and directly
influence its movement on the domestic labour market. The crises is deeply evident as in the
social as in the economical area of the country, but the most in the enterprise sector. A lot of
companies fight with crises with various methods. Many of them make the collective
redundancies or are definitely closed. The article next analyzes the collective redundancies,
the impacts of this process and its occurrence in the Slovak economy that leads to the growth
of the unemployment and it is direct aftermath of the actual running crises.
11
ACTIVE INCLUSION – A TOOL FOR ALLEVIATING AND
ERADICATING POVERTY AND SOCIAL EXCLUSION
Silvia Ošková Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Katedra sociálneho rozvoja
a práce
Dolnozemská 1, 852 35, Bratislava
+421 267291426
KEYWORDS
Poverty, Social Exclusion, Social Inclusion, Tools of Active Labor Market Policy
ABSTRACT
The poverty is significant problem in spite of society development that interfere considerable
part of population. The year 2010 was submitted as the year of fight anti poverty and social
exclusion in the Member States of EU. According to Slovak Government the main aims of
poverty and social exclusion eliminating and preventing are: decrease the children poverty;
increase the inclusion of risk group and fight against discrimination, improve the access to the
labor market and increase of employment and unemployment disadvantage group of
inhabitants. The new instruments of active labor market policy have to increase of active
inclusion of people in need by creating labor opportunities that raise their come back to labor
market.
THE IMPACT OF HEALTH CARE REFORM ON EMPLOYMENT
IN THE HEALTH SECTOR
Michaela Pechová Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Katedra sociálneho rozvoja
a práce
Dolnozemská 1, 852 35 Bratislava
+421 267291426
KEYWORDS
Healthcare Reform, Employment, Wages, Number of Practitioners per 1000 Inhabitants
ABSTRACT
Healthcare reform was one of most radical and most complicated reform in Slovak republic. It
implement a market principal in to healthcare providing. New six reform acts helps to change
state position from owner (investor) position to position or regulator.
All important competences are displaced to particular subjects of healthcare market and they
expressly support responsibility of patients, responsibility of health insurance companies and
responsibility of healthcare providers.
12
ALTERNATIVE MODELS OF SOCIAL ECONOMY
Eva Pongráczová Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Katedra sociálního rozvoja
a práce
Dolnozemská cesta č. 1, 852 19 Bratislava
+421 267291463
KEYWORDS
Social Economy, Social Entrepreneurship, Social Aim, Microfinance, Time bank, Alternative
Value
ABSTRACT
Social economy and its tool - social enterpreneurship make a chance for reduction of social
exclusion, to increase of employment and assist to solving of problems, where public and
private sector is inefficient. For social enterpreneurship is characterized that prefers the social
aim to achievement of profit. We know not only basic tools of social enterpreneurship, but
also alternative tools - for example the microfinance, time bank and the alternative currency.
These tools help to increase a social inclusion with reintegration of excluded people.
FLEXICURITY – CHALLENGE TO IMPROVE CZECH LABOUR
MARKET
Zuzana Potužáková MUP, o.p.s. Katedra ekonomie
Dubečská 900/10, 100 60, Praha 10
+420 274815044
KEYWORDS
Flexicurity, Labour Markets, EU, Czech Republic
ABSTRACT
Flexicurity reflects current basic trend of the EU in guaranteeing high employment levels and
attainability of national fiscal systems. It was introduced in Denmark in 90ties and helped
there to reduce the unemployment levels significantly. The Czech labour market, despite the
trasformation process, has still a space for further improvement, especially in the time of
ecoonimc slow-down. The best way is to try to apply elements and components which have
been already successfully implemented in the other EU Member States. The aim of the paper
is (based on the statistical indicators and official documents concerning labour markets topic)
to find the components of the flexicurity model, which could be used also in the Czech
Republic and change up labour market operation.
13
DISADVANTAGED GROUPS OF CITIZENS IN THE LABOUR
MARKET
Jana Štrangfeldová Ekonomická fakulta Univerzity Mateja Bela Katedra verejnej ekonomiky
Tajovského 10, 975 90 Banská Bystrica
+421 0484462316
KEYWORDS
Labor Market, Disadvantaged Citizens, Employment
ABSTRACT
Currently, the labor market significantly impacts resulting global economic and financial
crisis. Application of the disadvantaged groups of citizens (young people, disabled, long-term
unemployed, minority, etc.) however, it is also problematic at the time of upward economic
cycles.
The aim of the article is to identify the most serious obstacles to the application of a selected
group of disadvantaged citizens in the labor market and suggest policy measures which would
apply to a certain extent eliminated the problems of entry of these citizens in the labor market.
THE SITUATION OF POLISH CONSTRUCTION INDUSTRY
UNDER THE FINANCIAL CRISIS - SELECTED PROBLEMS
Piotr Tworek The Karol Adamiecki University of Economics, Department of Investments and Real-Estate
1 Maja 50, 40-287 Katowice, Poland
+48 322577510
KEYWORDS
Construction Industry, Construction Companies, Financial Situation, Employment, Financial
Ratios, Financial Crisis
ABSTRACT
In the time of the world economy recession, the crisis effects can be felt in many branches of
economy. Also in Poland, the current financial crisis is distinctly having an impact on many
fields of the business life. This also refers to the construction industry, in which the slump in
the demand for construction services rendered by the construction businesses has been
observed. Almost all the financial ratios have deteriorated, relevant to the construction
companies in Poland. Plenty of contractors face difficulties with the financial liquidity. The
unemployment rate has increased in the branch.
14
EFFECTS OF THE ENDOGENEITY IN THE EUROPEAN
MONETARY INTEGRATION PROCESS
Pavla Bednářová Technická univerzita v Liberci, Hospodářská fakulta, katedra ekonomie
Voroněžská 13, 460 01, Liberec 1
+420 485352355
KEYWORDS
Economic Integration, Monetary Integration, Eurozona, Optimum Currency Area,
Endogeneities of Monetary Integration
ABSTRACT
The main theoretical basis for analyses of monetary integration is the Theory of Optimum
Currency Areas (OCA). On the basis of the theoretical principles, the benefits and costs
connected with the use of single currency are compared. Monetary integration can be
described as a dynamic process influencing the real and nominal convergence of the
economies participating in it. The endogenous effects of the European monetary integration
are a set of interacting processes improving the OCA-ratings of a currency area. The focus is
on four areas: the endogeneity of economic integration, the endogeneity of symmetry of
shocks, the endogeneity of product and labour market flexibility, and the endogeneity of
financial integration and the insurance provided by capital markets.
ON INSURANCE MARKET AND COMMERCIAL INSURANCE
OF ENTREPRENEURS IN SLOVAKIA
Barbora Drugdová Ekonomická univerzita v Bratislave, Katedra ekonomickej teórie
Dolnozemská cesta 1, 852 35, Bratislava
KEYWORDS
Commercial Business Insurance, Non-life Insurance, Insurance Products, Insurance Market
ABSTRACT
The article is concentrated on the Slovak insurance and commercial business insurance.
Commercial business insurance may be characterized as a group of insurance products
designed to cover the risks inherent in the business activities of entrepreneurial entities.
Commercial insurers offer insurance products that cover both businesses’ property and their
liability. The insurance companies associated in the Slovak Insurance Companies' Association deal
with insuring international risks on the Slovak insurance market. By 31 December 2007, there were
24 commercial insurance companies on the Slovak insurance market, of which 24 were associated in
the Slovak Insurance Companies' Association. The article lists insurance products offered on the
Slovak insurance market by commercial insurers.
15
FINANCIAL CRISIS AND THE CZECH REPUBLIC'S ENTRY
INTO THE EURO-AREA
Mojmír Helísek Vysoká škola finanční a správní
Estonská 500, 101 00 Praha 10
+420 210088830
KEYWORDS
Euro, Euro Area, Euro Area Enlargement, Financial Crisis, Monetary Crisis
ABSTRACT
The Czech economy shows a high level in fulfillment of criteria for euro adoption from the
point of view of nominal and real convergency. Financial crisis and economic recession
complicate fulfilling the criteria of public finance deficit. But the evaluation of it will take
place (depending on the nearest possible date of euro adoption) in the years of 2011 and 2012.
Crisis and recession also increase volatility of exchange rate and a risk of speculative attack
on currency of a small open economy. Sovereign monetary policy is a questionable argument
in favour of national currency. Financial crisis is therefore an appeal for effort to adopting
euro without any delay.
THE FUNCTIONING OF THE ORIGINATE-TO-DISTRIBUTE
MODEL IN LIGHT OF THE GLOBAL FINANCIAL CRISIS
Zuzana Kučerová VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská tř. 33, 701 21, Ostrava 1
+420 596992405
KEYWORDS
Financial Innovation, Financial Markets, Originate-to-Distribute Model, Securitization
ABSTRACT
Text is focused on the process of securitization and the “originate-to-distribute” (OTD) model
in the light of the present world financial crisis. The aim of the text is to analyze present
existence of securitization through the OTD model, including data description of Europe and
USA, with subsequent suggestions of specific measures ensuring future existence of the OTD
model. Data set illustrates that American and European financial institutions have participated
in the securitization process in recent years, regardless of the risk associated with this process.
Banks have eased the credit underwriting practices as well. Consequently, these institutions
have suffered high losses since the financial crisis erupted in summer 2007. Nevertheless, the
OTD model should not be rejected. However, it is necessary for its future existence, that the
basic assumptions of this model are kept.
16
INFLATION TARGETING AND ITS IMPORTANCE
Hana Poláčková1 Ekonomická univerzita v Bratislave, Katedra ekonomickej teórie
Dolnozemská cesta 1, 852 35, Bratislava
+421 267291572
KEYWORDS
Inflation, Price Stability, Economic Growth, Inflation Targeting, EMU (European Monetary
Union)
ABSTRACT
This paper is focus on the problem of price stability and the importance of inflation targeting
policy in recent times. It summarizes the basic reasons of inflation targeting policy and
tendencies to assure the stabile price level in connection with economic growth. It is dealing
with the difference in the inflation targeting policy from the point of view of the country
which belongs to the Economic and Monetary Union (SR) in comparison to the country where
its own currency is circulating.
IS FLOATING EXCHANGE RATE ADVANTAGEOUS IN TIMES
OF FINANCIAL AND ECONOMIC CRISIS?
Petr Toman, Lubor Lacina PEF MZLU v Brně, Ústav financí
Zemědělská 1, 613 00, Brno
+420 545132404, +420 545132433
[email protected], [email protected]
KEYWORDS
Exchange Rate Volatility, Economic Crisis, Hedging
ABSTRACT
The exchange rate of Czech koruna reveals high volatility due to current world economic
crisis. The paper focuses on influence of increased exchange rate fluctuations upon the
exporting companies and sheds some light on a difficulty of their hedging. The text also deals
with an evaluation of the benefits of floating exchange rate regime in the time of current crisis
based on the comparison of the Czech and Slovak economies.
1 Príspevok je súčasťou výskumného projektu 1/0478/08 Teoretické a praktické aspekty novej (znalostnej)
ekonomiky.
17
AN ANALYSIS OF THE IMPACT OF THE EUROPEAN
CONVERGENCE PROCESS ON INTERNATIONAL
INVESTMENTS IN THE NEW EU MEMBER COUNTRIES
Václav Žďárek Centre for Economic Studies, University of Economics and Management
Nárožní 2600/9a, 158 00, Prague 5, the Czech Republic
+420 235312604
Christian Friedrich Institute for the World Economy
Düsternbrooker Weg 120, 24 105 Kiel, Germany
+490 1758964523
KEYWORDS
Capital Flows, Determinants, New EU Member States, European Integration, Panel Data
ABSTRACT
This paper examines how international investors decide on investments in the new EU
Member states (NMS). Our theoretical framework is based on the so called "Push-Pull" factor
approach and the Modern Portfolio Theory. Empirical analysis uses a data set of international
investment position for the (NMS) ranging from 1993 to 2007 that extends Lane and Milesi-
Ferretti’s External Wealth of Nations Mark II Database. An extensive set of domestic and
international variables (risk, liquidity and return) that might serve as transmission channels is
tested. We analyze these effects by applying a panel data approach with FGLS and PCSE
methods as proposed by Beck and Katz (1995). Our results indicate that convergence towards
EU had a significant impact on investments in the NMS. However, this influence seems to be
smaller than the one of global forces present at the same time.
ECONOMIC DEVELOPMENT OF THE NEW EU MEMBER
COUNTRIES IN ECONOMIC CRISIS
Vlasta Adámková Vysoká škola ekonomická Praha, fakulta mezinárodních vztahů, katedra světové ekonomiky
nám. W. Churchilla 4, Praha 3
+420 224095282
KEYWORDS
European Union, New Member Countries, Economic Development, Convergence Processes,
Economic Crisis
ABSTRACT
Article deals new member countries´ economic development in the time of the increased
effect of global financial and economic crisis. The crisis impact on their processes of real and
nominal convergence is analyzed. The next part is dedicated to the eastern enlargement´s
impact on the EU roles in the world economy when the integration of Central and Eastern
Europe countries into the EU made it possibly more difficult to manage.
18
THE SIGNIFICANCE OF INFORMATION IN SOCIAL SPACE IN
THE EUROPEAN UNION
Bogumiła Barańska University of Economics Katowice
ul. 1 Maja 50, Katowice, Poland
+48 032 2577500
KEYWORDS:
Media, Media Communication, Communication Space
ABSTRACT:
A lot of images and information in our minds, according to Lippman, come from media. Only
few of us can afford to obtain important information without turning to the media. A number
of different consequences of mass communication may occur, yet without one universal
pattern of an impact or a direction of influence it is impossible for a state to implement an
active regional policy. Thanks to PR specialists, we can prevent the politicization of
regionalism and the raising the regional issue. Another factor in the process of the media
information transfer is to obtain a response to unpopular issues and create mutual respect for
intellectual otherness, but, at the same time, indicate objective symbols shaping the social
reality in the European Union.
MIGRATION AND DEVELOPMENT: A CHALLENGE FOR
EUROPE?
Lenka Filipová VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská tř. 33, 701 21, Ostrava 1
+420 596992406
KEYWORDS
Migration, Economic Development, Poverty, Brain Drain, Brain Gain
ABSTRACT
Immigration has allways been a sensitive issue in Europe particularly in association with
labour market and public expenditures. This view is especially demonstrated in times of
recession when low-skilled workers are considered to be the reason for higher unemployment
of nationals. Recent action of the Czech and Spanish government has been an example of this
fact. However, a lot of global political debate has been recently emphasizing the increasing
role of globalization not only in trade and capital but also in the labour market with special
attention to the positive linkages between migration and development. In other words,
properly managed international migration can bring positive effects for sending as well as
receiving countries (remittances, diaspora networks and return migration). The aim of this
paper is to analyze the impact of low and high skilled migration on the economic
development of receiving countries (selected European countries) as well as sending countries
(selected African countries).
19
THEORETICAL ASPECTS OF COMPETITIVE ADVANTAGE
AND COMPETITION
Ivana Hudáková Ekonomická univerzita v Bratislave, Katedra manažmentu
Dolnozemská cesta 1, 852 35 Bratislava
+421 267295613
KEYWORDS
Competitive Advantage, Competition, Competitiveness, Hypercompetition
ABSTRACT
The aim of this contribution is to describe and define the terms „competitive advantage“ and
„competition“ on theoretical grounds since opinions vary on definition of the above terms.
There exist many theoretical conceptions that determine the term competitive advantage in
various conditions of its origination, starting with company environment, through its inter-
branch level up to understanding competitive advantage in particular segments of economy,
and the results can vary.
Nevertheless, one thing is sure - competitive advantage is becoming a phenomenon that is
multicomponent, multi-layer, dynamic and complementary.
FINANCING OF SMALL AND MEDIUM ENTERPRISES IN
SLOVAKIA
Eva Ivanová Alexander Dubcek University of Trencin, Faculty of Social and Economic Relations
Študentská 2, 911 50 Trenčín
+421 0327400297
KEYWORDS
Small and Medium Enterprises, Activities on Innovation, Funds, Alternative Resources of
Funding
ABSTRACT
SME – Small and medium enterprises represent an important element in countries where
market economy is implemented.SME flexibility and creativity allow them to react
immediately and meet market requirements and customer needs. Innovation done in SME
needs a lot of funds needed in the process of founding, running and developing companies
and enterprises. Lack of funds prevents SME from developing. Furthermore there is another
fact that hinders the development of SME. Enterprises use classical resources, loans and
credits when funding their activities. They do not use alternative forms of funding like credits
and funds available from local and national governments – “contribution programmes”,
national government funds from the state budget, structural funds, factoring, forfeiting and
risk capital as well that are available to start up a firm or a business. These alternative
resources of funding form a good modern financial potential in the future.
20
CHALLENGES OF INFORMATION TECHNOLOGIES IN THE
GLOBAL INFORMATION SOCIETY
Milena Janáková SU SBA in Karvina, Department of Informatics
Univerzitní nám. 1934, 733 40 Karviná
+420 596398111
KEYWORDS
Information Technology, Database and Operating Systems, Support Competitive Advantage
ABSTRACT
The modern information technologies maintain information anywhere and anytime, based on
accessing tools and applications with intuitive navigation. These technologies have positive
effect to business and education. For some midsize and small organizations, the most-cost-
effective solution may be implementation of database system for customer support on World
Wide Web. This solution includes many opportunities as data optimization, automation and
visibility. Search a new occasions and removing market barriers require to analyze saved data
with goal to get unhoped-for relationship. The correct education is important in this area. The
aim of education is to help students and users to utilize needed products and methods. We
must respect that information technologies make competitive differentiator for users in the
EU.
THE STRUCTURE OF EUROPEAN ECONOMIES IN TERMS OF
INTERSECTORAL FEEDBACKS
Milan Kaštan VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21, Ostrava 1
+420 597322328
KEYWORDS
Backward Linkages, European Union, Structure of Economy, Inter-industrial
ABSTRACT
This paper is focused on structure of selected European economies. It works with Eurostat
Symmetric input-output tables (SIOT) dataset. Inter-industrial backward linkage is a ratio
which indicates interdependence of particular industries and it can be computed using SIOT.
Backward linkages are analysed for eleven European countries. Presented analysis uses
supportive indicators (Export/Final Use ratio; Households Consumption/Final Use ratio;
Industry Production/Total Production ratio) to point out differences and similarities in
structures of analysed economies.
21
ADAM SMITH AND THE CURRENT ECONOMIC CRISIS
Christiana Kliková Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné,
Univerzitní nám. 1934/3, 73340, Karviná
+420 596398347
KEYWORDS
Adam Smith, Liberalism, Free Market, Global Economic Crisis, Index of Economic Freedom,
GDP per capita
ABSTRACT
At present the name of Adam Smith is often cited; mostly as a name of the economist who
laid the foundations of the modern political economy, nevertheless his theory does not include
efficient method of how to extricate from the economical crisis and how to fight it the fastest.
The Smith´s basic leitmotiv is a belief that if a man follows just his own goals the whole
society will be benefit; providing that the society is based on a free market, private property
and the distribution of labour.
The aim of the article is to verify, whether this statement be applied also on the current global
economical crisis.
COSTS AND CONSEQUENCES OF CORRUPTION – INITIAL
EMPIRICAL ANALYSIS
Eva Kotlánová OPF v Karviné - SU v Opavě, Katedra ekonomie
Univerzitní náměstí 1934/3, 733 40, Karviná
+420 596398460
KEYWORDS
Corruption, Cost and Consequences, Analysis, Economic Growth
ABSTRACT
In papers and special articles we can read that the consequences of corruption for economic
and social development are detrimental. It erodes macroeconomic and fiscal stability and
spurs inequality. It reduces the effectiveness of public administration and distorts public
expenditure decisions, channeling resources away from sectors such as health and education
to corruption-prone sectors or personal enrichment. It erodes the rule of law and harms the
reputation of and trust in the state. Not least corruption deters investment and hinders growth.
The aim of this paper is to present and describe briefly these costs and consequences and
acquaint you with principals of empirical analysis which is applied to consequences of
corruption for economic growth.
22
IMPACTS OF CRISIS OF 2008-2009 ON THE EU ECONOMY
Irah Kučerová FSV UK,
U kříže 8, 158 00 Praha 5
KEYWORDS
Economic Crisis, European Union, Financial Crisis, Symptoms of the Crisis
ABSTRACT
The current global crisis wasn’t a bolt from the blue; tumultuous world market trends of the
last two decades were potentially heading to a situation, in which most of the economics
involved in the international financial and trade flows would have been endangered almost at
one dash. The crisis hit the Western Europe already in the end of the year 2007. There are
many causes of EU’s susceptibility to falling into crisis. Firstly, there has been a combination
of a too early recession and some concrete symptoms of the financial crisis, caused by the
interconnection between world finance markets, raised by new technologies of the financial
sector, as are internet banking, internet investing and new created financial products.
Secondly, it were politic conditions of preparations for European Parliamentary and
Commissional elections, which contributed to the depression in the EU – it led to a political
corruption and a reluctance against a penetrative solution. According typical heterogeneity of
the EU member states they have different macro-economic potentials; and therefore impacts
of the crisis in the states will diverse and so will governmental solutions of the crisis.
INTERNATIONAL EVALUATION STANDARDS IN THE
CONTEXT OF INTERCONNECTING THE WORLD ECONOMY
Veronika Littvová Ekonomická univerzita v Bratislave, Fakulta podnikového manažmentu, Katedra
podnikovohospodárska
Dolnozemská cesta 1, 85235, Bratislava
KEYWORDS
the International Valuation Standards History, the International Valuation Standards, the
International Valuation Standards Committee
ABSTRACT
The world economy is in the globalization process, which is associated with an increase in the
international trade and investment. In the terms of their comparability, it is necessary to have
uniform evaluation criterias. Such criterias are the valuation standards. The paper deals with
valuation international standards issue. It refers to the initiatives that had led to the generation
of the international standards, their history and development up to the present. The paper
describes the current issues of membership in the commission of international valuation
standards.
23
ELECTRONIC INSURANCE SERVICES AS PART OF
FINANCIAL SERVICES
Zuzana Littvová Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Katedra poisťovníctva
Dolnozemská cesta 1, 852 35, Bratislava
+421 267291530
KEYWORDS
Electronic Commerce - eCommerce, Electronic Insurance - eInsurance, Insurance Company,
Marketing Strategy
ABSTRACT
The eCommerce is the important marketing strategy part of each insurance company, which
takes concern in the provision of the insurance services complexity and the unlimited access
to the information to its clients, in the present global economy.
The aim of this paper is to point out the challenges in the eInsurance area, which are
connected with this trade area, mainly from the view of opportunities to sell insurance
services to anyone and anywhere by the effective way at reduced costs and various marketing
strategies of the market expansion from the local market to the global one.
SOCIAL ACCEPTANCE AND ASSESSMENT OF POLAND’S
MEMBERSHIP IN THE EUROPEAN UNION
Renata Maćkowska University of Economics Katowice
ul. 1 Maja 50, Katowice, Poland
+480 322577500
KEYWORDS:
Social Acceptance, Public Debate, the European Union
ABSTRACT
Poland’s EU membership has transformed the public debate, deepened the reflection on
Poland’s position in the European Community, the membership conditions that we negotiated
and ways of implementing these conditions. Although the debate is fraught with
inconsistencies in the opinions presented by different political groups, these wide-ranging
views on the European Union are not reflected in the overall public opinion on Poland’s
membership. Public opinion polls show that social acceptance for Poland’s EU membership
has steadily been growing in the last 5 years. In the face of the economic crisis, the economic
benefits of the EU integration are gaining in importance. In the awareness of Poles, the
European space is being reconstructed and Poland’s political and social relations with other
EU members are more and more important.
24
SELECTED PROBLEMS OF THE PRESENT AND FUTURE OF
THE GLOBAL ECONOMY AND THE ECONOMIC POLICY OF
SLOVAKIA
Martin Matušovič, Monika Matušovičová Ekonomická univerzita v Bratislave, FPM, KPH
Dolnozemská cesta 1/b, 852 35, Bratislava
+421 905443222
KEYWORDS
the Globalization, the Crisis, the New Economics, the Strategies, the Intellectual Property,
the Innovations
ABSTRACT
The new global economic order brings new opportunities and challenges. Business persons
have to be competitive and more inventive, to react more flexible to the market needs and
broader context, too. There are frequent changes in micro and macro-environment. The global
economy has been struggling with a lack of energy, labour and other resources. The
demographic changes, the security needs growth, the changes in the environment are
worrying, too. These processes consequence is increasingly prediction difficulty in order to
identify, to minimize and to eliminate future risks. The invention, the intellectual property
promotion and its usage are one of the main instruments for the global economy sustainable
development creation and the life quality improvement in the future.
CORPORATE DESIGN OF MANAGEMENT FACULTIES IN
SLOVAKIA
Juraj Mišún Ekonomická univerzita v Bratislavě, FPM – Katedra manažmentu
Dolnozemská cesta 1, 852 35 Bratislava V
+421 267295632
KEYWORDS
Corporate Design, Corporate Identity, Corporate Image, University, Management
ABSTRACT
The corporate design belongs along with the corporate communication and the corporate
behavior to the set of instruments of the corporate identity. The company introduces itself to
the environment through the corporate design. The components of the corporate design are the
logotype/brand, the corporate type, the corporate color, the raster, the product design and the
communication design. Maybe the most visible medium of the corporate design is in
nowadays World Wide Web. The corporate identity (despite of its name) is used also by state
institutions, just like universities and colleges. On the base of most visible instrument of the
corporate identity, what corporate design truly is, we can evaluate the approach of the
university to the corporate identity development and acknowledgement of the corporate image
as a competitive advantage.
25
EUROPE'S POSITION IN THE WORLD ECONOMY AND THE
GLOBAL ECONOMIC CRISIS
Pavel Nezval Obchodně podnikatelská fakulta v Karviné, katedra ekonomie
Univerzitní náměstí 1934/3, 73340 Karviná
+420 603596277
KEYWORDS
Position of the Economy, the European Union, International Relationships, World Depression
ABSTRACT
This paper aimed with world depression and its impact on position of centres of the world
economy. Author describes cause of depression and different access to depression in the EU
and the USA. Author means that world depression bringing changes in position of centres of
the world economy. It shows increasing impact of economy of the China and changes
relationships between the USA and the China. It shows changes of position biggest trade
partner of the EU. Author means that the position of the EU in world economy declines.
A NEW VISION FOR THE SINGLE MARKET AND ITS
IMPORTANCE FOR THE EU'S POSITION IN THE GLOBAL
ECONOMY
Jaroslav Šuchman Jan Evangelista Purkyně University, Faculty of Social and Economic Studies
Moskevská 54 , Ústí nad Labem, PSČ 400 96
+420 261263336
KEYWORDS
Enlarged Single Market, Reforms, Services Directive, Network Industries, Convergence,
Global Competitiveness
ABSTRACT
The Single Market is the most successful European integration project, and by no means only
in the economic sphere. From the Single Act to enlargement in the years 1995-2007 and the
present, it has a proven track record contributing to stable macroeconomic environment in the
Union. Though the accession of new Member States /incl. Czech Republic/ led to greater
heterogeneity and more difficult direction, it has at the same time opened new opportunities
for all the 27 countries. Raising the level of transposition and implementation are just starting
points. New real vision of the Single Market must include true liberalization of intellectual
property services market, creation of competition and customer protection in network
industries, cross-border trade labour mobility and better infrastructure. Refusing reforms bears
high costs. The global crisis can be taken as a challenge for the EU and the world economy.
26
FOREIGN DIRECT INVESTMENT – THEORETICAL
APPROACHES AND PRACTICAL ASPECTS
Judita Táncošová Vysoká škola ekonómie a manažmentu verejnej správy v Bratislave
Železničná 14, 821 07 Bratislava
KEYWORDS
Foreign Direct Investment (FDI), Portfolio Investment, the Motivation of Investors, Foreign
Investors, the Theory of FDI
ABSTRACT
FDI is actively searching for almost every country. They are considered an effective form of
penetration of foreign capital into the country. These are investments that provide the investor
a share in the ownership and effective control. Today, many theories are addressed and in
terms of many aspects. We knew as: Theory 5W + 1H. The prospective investor has a lot of
investment opportunities in different regions of the world, and their entry into the country
arises fierce. The motivation of investors and the country receiving the investment is
different, and belongs to them and lack of internal resources, but also other developing
deficits, and the technological level, know-how, distribution networks, the low share of world
market and below. Entry of FDI in the host country increases the total amount of investment
and thus the overall production potential in the country.
PROPERTY RIGHTS AND ECONOMIC PROSPERITY – AN
INSTITUTIONAL VIEW
Michaela Tichá VŠB-TU Ostrava, Ekonomická fakulta, Katedra národohospodářská
Sokolská třída 33, 701 21 Ostrava 1
+420 597322410
KEYWORDS
Property Rights, Institutional Economics, Path Dependence, Economic Prosperity
ABSTRACT
Institutional economics modifies classic and neoclassic economics principles and offers
theoretic frame for connection of economic and sociological approach to human behavior.
Analysis of property institute is one of topics both American (old) institutionalism and
consequential new institutional economics because property, legal, political and economic
institutions strongly influence economic prosperity of countries. According to North’s path
dependence point of view present conditions for optimal exploitation resources depend on not
only present law (including informal customs and morality), but also on historical
development of property rights formation. While property rights security is obvious thing in
some countries for many years other countries have different property model saved in their
historic memory. This paper contributes to analysis of property rights influence on last and
present economic development of selected countries.
27
REAL CONVERGENCE BETWEEN THE CZECH REPUBLIC
AND THE EUROZONE IN TIMES OF ECONOMIC CRISIS
Pavel Tuleja Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné, katedra ekonomie
Univerzitní nám. 1934/3, 733 40, Karviná
+420 596398259
KEYWORDS
Euro, Foreign Trade, Global Crisis, Potential Product, Real Convergence, Structure
ABSTRACT
In spite of the fact that the Czech Republic, on its entry into the European Union, undertook,
within the shortest possible time limit, to meet all the terms and conditions which are required
for adoption of the common European currency, the Euro, it is apparent at the present time
that the Czech shall not be able to meet this undertaking until 2014. The current crisis of the
real economy can be regarded as one of causes of this delay. Although the global crisis
threatens the degree of compliance with the Maastricht nominal convergence criteria, in our
opinion, the country’s compliance with the real economic convergence criteria is coessential
on its entry into the Euro Area. Within the analyses which we have completed, we have
arrived at the conclusion that the Czech economy will need to undergo quite a dramatic
process of convergence with the Euro Area’s economy, since the current state of its real
convergence is accompanied by a myriad of risks, which in case of an early adoption of the
Euro might result in severe economic trouble.
REAL AND NOMINAL CONVERGENCE IN THE VISEGRAD
COUNTRIES
Michal Tvrdoň Slezská univerzita, Obchodně podnikatelská fakulta, katedra ekonomie
Univerzitní nám.1934/3, 733 40, Karviná
+420 596398460
KEYWORDS
Real Convergence, Nominal Convergence, Visegrád Group
ABSTRACT
The article is focused on the progress in real convergence in the Czech Republic and in the
new EU member states (NMS) and on the relationship between real and nominal
convergence. Factors of economic growth acceleration in the Czech Republic and in the other
Visegrad group countries (V-4) prior and after joining the EU are discussed. In particular, the
impact of the initial economic level at the beginning of transformation on the speed of real
convergence is analysed. The real convergence is closely interrelated with the nominal
convergence and results in a narrowing of the price and wage levels gap and in an
appreciation of the real exchange rate in catching-up economies. Two channels give changes
of comparative price level: a higher domestic rate of inflation (inflation channel) and an
appreciation of nominal exchange rate (exchange rate channel). The Czech price level is still
lower in comparison with the similar income level economies. The last part is focused on the
specifics concerning euro adoption.
28
CREDIT RATING AGENCIES AND THE ECONOMIC CRISIS
Natalie Uhrová EKF VŠB-TU Ostrava, katedra národohospodářská
Sokolská 33, 701 21, Ostrava 1
+420 597322452
KEYWORDS
Rating Agencies, Economic Crisis, Efficiency of Economic Policy
ABSTRACT
The credit rating is an evaluation of credit worthiness of individual countries on international
markets. Countries gain their rating on the basis of an evaluation of criteria such as political,
economical and others. Ratings are also one of the options for appraising efficiency of the
economic policy. The credit ratings are provided by special agencies which should be
independent, credible and objective. It should be expected that they would warn investors
about dangers associated with risky investments, but that did not happen at the onset of the
global economic crisis. The Czech Republic is one of few countries where the government did
not need to bail out banks due to collapsing financial system. Banks in the Czech Republic
did not function as investment banks (as for example in the USA or Iceland) and adopted
conservative approach characterized by caution towards toxic assets. In spite of this, Czech
bank were unable to avoid lower ratings.
INNOVATION, ITS EFFICIENCY AND MEANING
Tomáš Verner Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné
Univerzitní náměstí 1934/3, 733 40, Karviná
+420 596398269
KEYWORDS
Innovation, Innovation Costs, Government Aid, Economic Policy, Innovation Efficiency,
International Comparison
ABSTRACT
The aim of this article is to accent importance of innovation in current economic situation. It
deals with evaluation of status quo and development of innovation and their efficiency in
Czech Republic. Although innovation concern especially enterprises the article try to explain
the role of economic policy and government.
29
PERFORMANCE MANAGEMENT AND HUMAN CAPITAL IN
THE CONTEXT OF ECONOMIC TRENDS
Josef Vodák FRI Žilinská univerzita
Univerzitná 8215/1, 010 26 Žilina
+421 415134452
KEYWORDS
Performance Management, Human Capital, Education, Talent Management, Economic Crisis
ABSTRACT
In this article we discuss today and future requirements on organization in present
globalization tendencies and stress of economic crisis with the focus of human resources and
human capital in the context of performance management. It's a matter of future requirements,
trends and impacts on the work with human resources in organizations. On the other words
there are a question of challenges that must human resource managers to solve in their daily
processes and in the area of development and education of employee and work with talents
too.
GLOBAL CRISIS – BETWEEN CHAOS AND CONTROL
Petr Vymětal Vysoká škola ekonomická v Praze, Fakulta mezinárodních vztahů, Katedra politologie
W. Churchill Square 4, 130 67, Prague 3
+420 224095298
KEYWORDS
Governance, Liberalism, Regulation
ABSTRACT
The global financial crisis that followed after the successful era of economic growth and
advanced liberalism, uncovers several problems. Current approach for coping with it
traditionally offers two extreme solutions – a strict liberalism or state intervention. If we
suppose that market mechanism remains the main and the most important coordination
mechanism, crisis highlighted it must be strengthen and replenished with other instruments
and mechanisms that should moderate the risk of the deep crises in the future. That also
means coordination of economic policies, stable but adaptable institutional framework,
strengthening accountability and responsibility and redefinition of the role of the state in the
societal activities especially. This article tries to sum up the causes of current crises and offer
some alternative instruments for managing and preventing them in the future.
30
CRISIS, RESPONSIBILITY AND THE FUTURE OF EUROPE
Petr Wawrosz Institute of Finance and Administration, Department of Economics and International Affairs
Estonska 500, 101 00 Prague, Czech republic
+420 777189183
KEYWORDS
Crisis, Responsibility, Economic Paradigm, Basic Economic Principle, Alternative Economic
Approaches
ABSTRACT
The article things that main reason of the present economic crisis was irresponsible behaviour
many subject – as private person and firms as government organization. So the present crisis
can be titled the crisis of responsibility. However the characteristic feature of Europe
development is that a man things about his responsibility, that man criticises starting points of
his thinking and tries to find other concepts. Europe developed many centuries due this
approach including economic development and achieving of economic growth. So the article
analyses the main present economic paradigm, especially principle constituting the basic of
present economic theory. The article shows their advantages and disadvantages and also tries
suggests alternative economic concepts a theories leading to future European economic
development.
DOES INSTITUTIONAL ECONOMICS HAVE ANSWERS TO
THE CAUSES, COURSE AND SOLUTION OF THE CRISIS?
Milan Žák Centrum ekonomických studií Vysoké školy ekonomie a managementu
Nárožní 2600/9a, 158 00, Praha 5-Stodůlky
+420 235312603
KEYWORDS
New Institutional Economics, World Crisis, Political Aspects, Economic Aspects,
Psychological Aspects
ABSTRACT
The contribution is an attempt to explain the current world crisis from the perspective of new
institutional economics (NIE).Text is based on the belief, that the crisis is an integral part of
the development and have the character of a restoration. Their origin, the course and possible
solutions are particularly affected by the activities of government (political aspects), operation
of financial markets (economic aspects) and responses of consumers (psychological aspects).
NIE his range allows to combine these views. The basic cause of the current crisis is a gauge
between ethics and economics, influenced the course of exaggerated political response of
governments today, and mood in society. Remission of the crisis should provide a return of
confidence in the markets, greater economic freedom, restoration of fiber ethics with
economics and enhance prudence in government spending.