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New Articles – Economics


SOCIO-ECONOMIC FACTORS INFLUENCING THE DEVELOPMENT OF RENEWABLE ENERGY PRODUCTION SECTOR IN POLAND

Tadeusz A. Grzeszczyk, Waldemar Izdebski, Michał Izdebski, Tadeusz Waściński

The EU policy is largely shaped by the idea of sustainable development, which is based on the assumption of satisfying the developmental aspirations of the present generation in such a way as to enable the next generations to achieve the same aspirations (Brundtland, 1987). For economists, the suitable way to sharpen this idea is to consider the various resources (including renewable and nonrenewable natural resources) that communities hold at any particular time. Resources passed to future generations should be comparable (in terms of the ability to provide an adequate standard of living) with the stocks inherited by their ancestors (Streimikiene & Mikalauskiene, 2016).
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THE EFFECT OF SECTORAL DIVISION ON GDP PER CAPITA IN THE SLOVAK REPUBLIC

Peter Burger, Lea Šlampiaková

The presumption that the production structure of an economy is the fundamental determinant of economic performance has been confirmed by previous economic literature. There is growth observed in a country when the production structure is composed of commodities with intense returns (Reinert, 2008; Andreoni & Scazzieri, 2014). Moreover, Andreoni (2014) has noted that the proximate source of innovation is a further source of importance in economic activities with increasing returns. According to Fourastié (1951), sectors are developing along with technological and innovation developments, but not evenly. In the sectoral structure of the national economy of the Slovak Republic, the main focus had been initially on agriculture, fishing and mining, until the industrialisation process began.
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INSTITUTIONAL INVESTOR, ECONOMIC POLICY UNCERTAINTY, AND INNOVATION INVESTMENT: EVIDENCE FROM CHINA

Zhenjiang Dou, Lei Wei, Jingyi Wang

Innovation-driven economic development is a global trend. Specifically, in the Sino-American trade war, the events, such as the suppression of Huawei 5G, knock the alarm bell of independent research and development (R&D) in all countries. Hence, the entire society is aware of the strategic signifikance of corporate innovation and key technologies to the companies and the entire country. Compared with traditional investments, such as fixed assets investment, the Innovation investment is featured by large capital demand, long recycling period, high risk, and others. The interruption of the capital supply chain will generate high adjustment costs and sunk costs (Ju et al., 2013; Gu et al., 2019). As important enterprise managers, institutional investors have become an important force that cannot be ignored in the current capital market.
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QUANTIFYING THE ECONOMIC DEVELOPMENT DYNAMICS OF A COUNTRY BASED ON THE LORENZ CURVE

Romualdas Ginevičius, Joanicjusz Nazarko, Dainora Gedvilaitė, Zdzisława Dacko-Pikiewicz

Today market players at all levels, from business operators to countries, strive to be competitive. This aspiration is not passive, and is not only about maintaining current positions. As a result of the global economic development of the world, the growth of global markets forces particular countries to increase the economic scale of the economic growth, otherwise they will lose their positions. The pursuit of an increasing share of international markets becomes the basis for a country’s competitive capacity. Only by keeping pace with the growth of the single market warranty that they remain competitive. Therefore, development becomes a hallmark of competitiveness. In this context, it is important for both science and practice to fully analyse the phenomenon of economic development.
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DETERMINANTS OF PERSISTENT AND TRANSIENT TECHNICAL EFFICIENCY OF MILK PRODUCTION IN EU

Gabriela Trnková, Zdeňka Žáková Kroupová

The evaluation of the competitiveness of different agriculture sectors has, traditionally, been based on the measurement of technical efficiency. We focus on the dairy sector because the EU dairy sector is one of the pivotal agricultural sectors in the EU. The dairy sector currently faces several challenges arising from growing EU and global demand, price volatility, fodder crisis as a result of climate change and the fact that dairy farms are highly specialized, which on the one hand may be an advantage, on the other hand a threat due to higher vulnerability to income shocks. Milk production is carried out on mixed farms or specialized farms. In 2012, the share of the sector covered by specialized farms in the FADN, on which this analysis is based, is more than 80% in the EU-15 (EU members until the 2004 enlargement) and around 50% in the other member states. There are big differences in coverage among EU countries: only 17% of milk production in Slovakia and 19% in the Czech Republic, but full production in Ireland and Finland.
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