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IS THERE A TREND OF EUROIZATION OF EU COUNTRIES STILL USING THEIR NATIONAL CURRENCIES? TRADE AND INVOICING

Jan Mačí

Once entering the European Union, the Czech Republic as well as at present six other countries which are not currently members of the EMU committed to accept common currency – the euro. For example, Sweden accessed in 1995, the Czech Republic in 2004 and these two countries are still using their national currencies. By coincidence, these two countries use for payments their crowns – Czech koruna, respectively Swedish kronor. What is more, in case of these two countries, a date of EMU accession has not been set yet. In fact, due to several major unfortunately rather negative, economic events that have taken place over the last decade (i.e. financial crisis, debt crisis), and due to several ongoing economic problems of the Eurozone (e.g. significant public debt burden for Greece or Italy; the budgetary problems of Italy and, to some extent, France; esponsibility for indebtedness of national economies, etc), the relevant EU institutions do not even put pressure on countries still using their national currencies in order to fulfil the commitment of euro adoption.
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COMPETITIVENESS OF MUTUAL AGRARIAN FOREIGN TRADE OF THE POST-SOVIET COUNTRIES

Irena Benešová, Luboš Smutka, Jana Hinke, Adriana Laputková

The paper is an analysis of foreign trade of the post-Soviet countries conducted for years 2000 and 2015. The aims of the research were thus twofold: to examine the bilateral trade scheme for the selected countries and to attempt to explore relations between competitiveness and thus the position of the agricultural commodity aggregates. The UN COMTRADE database was used. In the monitored countries, there is continuous growth of the commodity aggregate 0 – Food and live animals, which is strongly influenced by the commodity sub-aggregates 02 – Dairy products and bird eggs, S3-04 – Cereals and cereal preparations. The first phase entailed calculations of individual indicators of mutual trade (RCA, LFI, GLI and coverage of import). Subsequently, the indicators were used as input variables for further analyses. Using RCA and LFI indexes, the commodity aggregates were classified into 4 quadrants according to their position within the comparative advantage and competitiveness. Using a cluster analysis (based on Euclidian distance and Ward’s method), individual commodity aggregates for the monitored countries were divided into groups based on the values of GLI, LFI and coverage of import. The groups were subsequently characterized for individual countries. Based on the conducted analyses, it can be stated that hypothesis 0 about the non-existence of significant changes within the group structure does not reflect the reality. Between 2000 and 2015, substantial changes occurred in terms of dividing the commodity aggregates into groups based on their common characteristics with regard to foreign trade. In addition, the diversity within foreign trade decreased between 2000 and 2015, and more commodity aggregates attain values around or below the average of a given aggregate. When assessing the intraindustry trade, it can be stated that some commodity aggregates can be regarded as important only with regard to Azerbaijan, Russia, Belarus, Kazakhstan and Ukraine. In these countries, this phenomenon is most frequently evident in the commodity aggregates Beverages or Vegetables and fruit.
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VULNERABILITY TO THE CONSEQUENCES OF BREXIT: EVIDENCE FOR POLISH AND SPANISH REGIONS

Jarosław M. Nazarczuk, Stanisław Umiński, Laura Márquez-Ramos

In this paper, we focus on Poland and Spain in order to analyse the potential consequences at the sub-national level of a reversal of European economic integration. The latest Parliament Eurobarometer survey confirms citizens’ growing support for European economic integration. In this survey (European Parliament, 2018), the 28 European member states (MS) have been positioned according to their views with reference to two dimensions. Firstly, ‘the right direction’ in their own country and, secondly, ‘the right direction’ in the European Union (EU). The question asked is: ‘At the present time, would you say that, in general, things are going in the right direction or in the wrong direction, in…? (Our country/EU)’. According to this survey, Poland is in the group of countries with the most positive perceptions in both dimensions (i.e. things are going in the right direction in both Poland and in the EU). On the other side of the spectrum, the Eurobarometer shows that citizens in Spain believe that things are taking the wrong direction, both in Spain and in the EU.
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COUNTRY-SPECIFIC DETERMINANTS OF INTRA-INDUSTRY TRADE IN PHARMACEUTICALS: THE CASE OF POLAND AND ITS EUROPEAN UNION PARTNERS

Justyna Łapińska, Jana Meluzínová, Jiří Uhman

Pharmaceuticals are chemical and biological substances produced by the pharmaceutical industry, used in therapies and prevention of various diseases. They cover an extremely wide range of products, ranging from simple medicinal preparations, to extremely advanced technological specifics. Similar to food, pharmaceutical products are believed to be one of the most important needs of human beings. They have a significant impact on their health, often support and extend their lives. Due to their specific properties and healthcare function of pharmaceuticals, they are contained in the category of basic products and their significance is appreciated not only by buyers (patients) but also by authorities in most countries. That is why in many countries special attention is paid to the development of production and trade in pharmaceutical products.
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THE IMPACT OF SPECIAL ECONOMIC ZONES ON EXPORT BEHAVIOUR. EVIDENCE FROM POLISH FIRM-LEVEL DATA

Jarosław Michał Nazarczuk, Stanisław Umiński

The establishment of Special Economic Zones (SEZ), and other types of privileged areas, is a common policy approach adopted by countries in order to attract domestic and foreign capital, increase exports or employment, increase trade openness or facilitate minor economic transitions within the country. By setting a preferential business climate, with lower taxes and tariffs made available in a restricted territory, governments promote investment inflow and encourage flourishing businesses to grow and cluster within zones, thus generating positive spill-over effects to the neighbouring areas.
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CHANGES IN INDUSTRIAL STRUCTURE AND POTENTIAL: THE CASE OF LITHUANIA

Asta Saboniene

Every economy aspires to enlarge the share of high-tech industries in its industrial structure, considering this share as one of the main determinants of country’s economic development. Hence, the induction of high and medium-high technology industries through R&D support, stimulation of innovation activities and higher quality may help economies to avoid getting trapped in the low-tech specialization during the long term.
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ON THE GRAVITY EQUATION OF TRADE: A CASE OF GERMANY

Jiří Mazurek

The gravity model (or equation) of international trade is an economic analogy to Newton’s Law of gravity. The economic version of this law assumes that international bilateral trade is directly proportional to ‘sizes’ of trading economies, and indirectly proportional to their distance.
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THE EFFECT OF THE EXCHANGE RATE ON INDUSTRY-LEVEL TRADE FLOWS IN CZECHIA

Jana Šimáková, Daniel Stavárek

The relationship between exchange rates and international trade belongs among the topics that have attracted considerable interest in both academic research and policy making. An extensive body of literature has been published, particularly since the collapse of the Bretton Woods system, which brought about floating exchange rates of the major world currencies and increased exchange rate uncertainty. The effects of exchange rate on international trade can be examined from various perspectives.
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ECONOMIC DEGLOBALIZATION – FROM HYPOTHESIS TO REALITY

Cătălin Postelnicu, Vasile Dinu, Dan-Cristian Dabija

Benefits of globalization in the economy of the country is a contentious issue not only in general public but also among academics and professionals of the world economy and international trade, management and marketing, who hold important positions in European or international financial institutions.
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DETERMINANTS OF THE EUROPEAN UNION’S TRADE – EVIDENCE FROM A PANEL ESTIMATION OF THE GRAVITY MODEL

Michał Bernard Pietrzak, Justyna Łapińska

In the world’s economy the last two decades have been a period of development of regional integration groups. A number of new groups came into being and the already existing ones followed the path of deepening the integration process.
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