Yevhen Savelyev
Opening remarks
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 3-4
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Theodoros Papaelias, Nicos Stroblos, Vassilis Panagou
Accounting imprint of macroeconomic magnitude: vertically integrated sectors of the Greek economy
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 5-20
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The productivity indicators are based either on the microeconomic or the macroeconomic notion of sectors of production and vertically integrated sectors of production correspondingly. The first refers to the set of factors of production implemented by the enterprise, whereas the others are the utilized factors employed in other sectors added to the microeconomic sectors. In a traditional approach the microeconomic sectors of production play a dominant role in the analysis of economic development. This paper suggests a microeconomic approach of macroeconomic production factors with the realism implied by using the Computable General Equilibrium (CGE) Models, while enhances the study of areas which are difficultly examined by the aggregate production function. The proposed methodological tool is applied to the Greek economy. Key words: Microeconomic and macroeconomic production functions, capital, labor, closed economy, a final or intermediate commodity, vertically integrated sectors, aggregate production function, economic growth. |
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Ihor Lyashenko, Yuriy Tadeyev
Optimum trajectory of inter-branch model of ecologic-economical development
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 21-30
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This paper analyses a question of expansion of classic dynamic interbranch model in case of the ecological-economic system. There is main trajectory of the balanced development of Neyman built for the offered dynamic interbranch ecological-economic model. Key words: Ecological-economic system, inter-branch ecological-economic model, dynamic equilibrium, main trajectory, maximal rate of the economic growth, the Neyman ray. |
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Yevhen Savelyev
International capital flows into and acroos Ukraine
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 31-54
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The paper reviews on theoretical basis international capital flow movements. It proposes few new trends that exist in the capital markets, the waychanges are taking place in Ukrainian financial market and its further integration in the world market. The paper proposes few ways in which, a financial offshore center can be created in Ukraine. It also discusses the advantages of having a financial offshore center in Ukraine at both political and economic levels. Key words: International capital flow, foreign direct investment, portfolio foreign investment, international lending, international financial centers, offshore areas, internationalization of bank concentration of capital, internationalization of capital allocation. |
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Yuriy Vasylenko, Dmytro Vasylenko
Necessary and sufficient conditions for foreign trade balance stabilization by means of devaluation in Ukraine
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 55-77
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This paper defines necessary and sufficient conditions of trade balance stabilization in Ukraine that, contrary to well-known Marshall-Lerner and Bickerdike-Robinson-Metzler conditions, is applicable to non-zero trade balance and to any elasticity of export and import. It also presents and analyses quantitative estimations of changes of physical volumes, prices and values of export and import after some devaluation. For practical purposes the authors received the diapasons of elasticity of exports and imports, in which devaluation makes negative trade balance positive or zero. Key words: Trade balance stabilization, devaluation, necessary and sufficient conditions. |
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Olha Kyrylenko, Andriy Luchka, Bohdan Malynyak
Municipal bond market in Ukraine: historical background and prospects
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 78-98
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The paper reviews the historical background and the development of the local loans markets in Ukraine. The paper examines the municipal loans markets in other EU and Asian countries. The paper also examines the current issues of the development of the local loans market in Ukraine. The paper ends with certain suggestion for improvement in the national system for allocation of local budgets. Key words: Local (domestic) loans, home debt, securities, project borrowings, loans to redeem the temporary cash gaps, municipal securities market, restricting norms, rating agency, default, debt refinancing, emergency budget. |
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Iryna Biletska
The research of market concentration of ferroalloys production branch
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 99-114
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This paper determines a level of a market power and competitive structure of the world market of ferroalloys. The firms that are forming «core» of the market are identified and their role in a global competition of ferroalloy manufacturers is determined. Key words: The cconcentration index; Lind’s Index; Herfindal-Hirshman Index; the entropy index; the logarithm dispersion of the market shares ratio; Ginni Index; Lorenz Curve. |
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Yevhen Savelyev
Opening Remarks
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 129-131
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Henning Klodt
Global economic policy for the modern world economy
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 132-141
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The author elaborates the criteria which may be applied in a number of economic policy areas that are in the spotlight international policy debate. Key words: Economic policy, global governance, international coordination, quadrant of the system of coordinates, Tobin tax |
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Timotej Jagrič, Sebastjan Strašek
Comovements of economic activity in the post-communist economies
Journal of European Economy, Volume 4, Issue 2, June 2005, pp.142-157
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This paper studies the cyclic patterns in transition economies with multivariate spectral analysis. It examines whether the transition in Slovenia and Croatia was marked by a significant shift in aggregate economic activity, which corresponds to the definition of the business cycle, and whether the cycles are synchronized with the cycle of the EU. For Slovenia, we find very close synchronization. The testing for Croatia, however, suggests that there is no typical EU component in its business cycle. To additionally support the results obtained with multivariate spectral analysis, we also employed the Granger causality test. According to lag selection criteria, economic activity in Slovenia lags behind the EU economic activity for 1 month. Granger causality test also supports the results for Croatia. We could not find any significant connection between economic activity in Croatia and the EU. Key words: Business cycle, multivariate spectral analysis, Granger causality synchronization. |
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Svitlana Blahodeteleva-Vovk
The bank's dominant goals and values in the context of determining the sense of its activity in a globalized world
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 158-169
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The paper reviews the aspects of setting goals, formulating values and determining the sense of banking from the viewpoint of cultural peculiarities of the countries where banks are functioning, to make cross-cultural dialogue, and to overcome the contradictions of globalization. Key words: Bank’s goals, globalization, bank’s values, strategy of the banking institution. |
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Oleksandr Amosha, Olha Novikova
The problems related to social orientation of the Ukrainian economy and the ways to provide it
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 170-180
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This paper estimates the situation and trends in the social sphere of Ukraine. The authors analyze the legal support to the social policy and substantiate the directions for providing the social orientation of the economy. Key words: Social sphere, social policy, social orientation of economy, social interests, social labour relations, labour market, employment, unemployment, social protection. |
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Andriy Krysovatyi, Tetyana Koshchuk
The dialectics of tax policy transformation in Ukraine in the context of European integration
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 181-196
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The article substantiates theoretical principles of optimal tax infrastructure for ensuring economic growth in Ukraine within the framework of EU integration. Having analyzed the European experience of tax regulations and national practice of tax policy formation and realization, the authors determine strategic goals and tactical measures for tax transformation. Key words: Tax, tax policy, tax infrastructure, tax regulation, tax unification, direct and indirect taxation, tax preferences, economic and institutional basis of tax transformation. |
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V. Balaji Venkatachalam, Viktoriya Kramar
Human resource management in Ukrainian banks: a strategic perspective in the context of increased activity in the retail banking segment
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 197-208
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Banking is a heavily capitalized sector whose investments consist essentially of employees to such an extent that the transformation required can only be affected over time. Strategically, if Ukrainian banks are to be successful, in the near future they will have to redefine the principles of Human Resource Management (HRM) and make it of top priorities. HRM practices are most effective when matched with the strategies of organization. By adapting highperformance workplace practices, banks in Ukraine can create capabilities that will add value to their operations. Key words: Ukrainian banking sector, Human Resource Management, strategic HRM, retail banking. |
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Helena Żukowska, Roman Oleynyuk
Credit bureaus and the bureau of economic information in the Polish banking system
Journal of European Economy, Volume 4, Issue 2, June 2005, pp. 209-215
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Unfairness in business is a common feature known around the world, but in the countries with the developed economy there are quite effective mechanisms and institutions that hedge (limit) dishonesty in economic relations. In the economic systems that are just developing, to which one can refer the new members of the European Union and Ukraine, many good companies bear huge losses because of the unfair partners and debtors with bad reputation. This article will try to reveal the experience of fighting with this feature in the Polish economy. Key words: Credit bureau, Bureau of credit information, credit risk, client with bad reputation, Bureau of economic information, client database. |
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