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The aim of the article is to identify a degree of inclusive growth and to examine the influence of determinants of inclusive growth in the European Union (EU-27) countries, with particular emphasis on factors related to the influe...
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The aim of the article is to identify a degree of inclusive growth and to examine the influence of determinants of inclusive growth in the European Union (EU-27) countries, with particular emphasis on factors related to the influence of governments and central banks. The study took advantage of the weight correlation method, which was used to build an inclusive growth measure for the EU-27 for the years 2000, 2008, and 2020. For the construction of the inclusive growth rate, 42 factors were selected that affect inclusive growth in the economic, financial, and non-wage area. These determinants are found in the area of the influence of economic authorities, and mainly in the area of authorities responsible for conducting monetary and fiscal policy and general governance. On the basis of the built-up indicator of inclusive growth, it was noticed that among the 27 EU countries in the studied three years, only four countries distinguished themselves with the highest inclusive growth over the last 21 years, these are Denmark, Luxembourg, Sweden, and Finland. On the other hand, invariably, three countries recorded the lowest inclusive growth, i.e., Bulgaria, Croatia, and Romania. The added value of the structure of the inclusive growth indicator was a possibility to observe which of the three areas economic, financial, or non-wage, had a significant impact on the position of a given country in the compiled inclusive growth ranking.
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Our aim is to identify periods of restrictive versus expansionary economic policy in the euro area in the last two decades. We firstly conducted the study for identifying the dominant trend in fiscal policies and then in monetary ...
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Our aim is to identify periods of restrictive versus expansionary economic policy in the euro area in the last two decades. We firstly conducted the study for identifying the dominant trend in fiscal policies and then in monetary policies. We studied several fiscal outputs, focusing on the cyclical adjusted primary balance. We also analysed the European long-term and short-term interest rates. The study was conducted for several windows, namely for 3-, 4- and 5-year periods. Additional procedures were conducted for robustness checks, namely the study of structural breaks in the analysed time series as well as a study of them recurring to Markov-Switching Regimes models. For most of the analysed periods and subperiods of the series, we concluded for the presence of expansionary policies either in the fiscal or in monetary European domains. Finally, the results and the analysis of dependencies in the euro area economy favour the evidence that economic authorities in the euro area have sought to coordinate monetary and fiscal policy to stabilise the economy.
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The purpose of the article is to identify the factors determining the rate of entrepreneurship in selected regions of Poland and the Czech Republic, two neighboring countries, within the period 2007 - 2017. This period includes th...
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The purpose of the article is to identify the factors determining the rate of entrepreneurship in selected regions of Poland and the Czech Republic, two neighboring countries, within the period 2007 - 2017. This period includes the time of the financial and economic crisis, which could have influenced the entrepreneurship determinants in the regions under study in varying degrees. The differentiation of the impact of selected variables on the entrepreneurship rate had its basis in many elements. To achieve this objective, the following research methods were used: presentation of statistical data, statistical and econometric research methods - the logarithmic panel model with delays. The article also emphasizes the importance of entrepreneurship for the development of a country's economy. Considering the high level of competitiveness in local and global markets, enterprises should pay increasing attention to micro-environment and some regional conditions, because an enterprise depends on these conditions and may influence many of them. The results of the research and thus the contribution and their added value are as follows: an increase in local entrepreneurship is positively transferred to the growth of international entrepreneurship, while R&D expenditure and average remuneration in the economy are the crucial factors influencing the development of entrepreneurship.
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Farming is treated as one of the riskiest businesses. Political decisions, especially these related to the agricultural sector, may be treated as of a great importance. As a consequence, farm owners seek to diversify their sources...
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Farming is treated as one of the riskiest businesses. Political decisions, especially these related to the agricultural sector, may be treated as of a great importance. As a consequence, farm owners seek to diversify their sources of income and run other strategies aiming to stabilize their earnings i.e. by off-farm activities. The paper selected key groups of the determinants of the off-farm income with the aim to evaluate the current state and to propose further steps of the detailed analysis. The authors identified the mechanisms how the particular instruments influence farmers' decisions on generating the off-farm income. It may be concluded that the significance of direct payments is still very high. Subsidies generally discourage farmers from the non-agriculture employment. The influence of socio-demographic characteristics is significant, however, the strength of this impact is determined by the additional factors like the situation in the labour market. In case of environmental determinants, it should be noted that there is a limited group of factors that may be out of control by the farm operators. The value added of the article is an attempt to identify the mechanisms how the particular instruments may influence farmers' decisions on generating the off-farm income. The article finishes with the authors' recommendations for further empirical studies.
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