Yevhen Savelyev
What day to come, what is it bearing?
Journal of European Economy, Volume 4, Issue 4, December 2005, pp. 379-380
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Iryna Hladiy
The peculiarities and development dynamics of regional trade agreements at the beginning of XXIst century
Journal of European Economy, Volume 4, Issue 4, December 2005, pp. 381-398
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The formation of transcontinental trade networks is among the outcomes of the process that intensifies the creation of regional blocks. Under these conditions, not only economic and political mechanisms for international flows regulation, but also the distribution of forces and the priorities of major actors on the world market are transformed. Therefore, singling out the peculiarities of and development trends in modern regional trade agreements (RTAs), likewise description of their spatial and economic configuration, allows having a new vision on how the RTAs affect the globalization process at the world market. Key words: bilateral and multilateral agreements, foreign trade policy, GATT, interregional RTA networks, preferences, process of regionalization, regional trade agreements, regulatory structure of WTO, trans-regional markets |
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Thi Thu Lin Nguen
Retrospective analysis of the process of Vietnam's international economic integration
Journal of European Economy, Volume 4, Issue 4, December 2005, pp. 399-410
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Somesh K. Mathur
Growth accounting: a data envelopment analysis
Journal of European Economy, Volume 4, Issue 4, December 2005, pp.411-441
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We estimate technical efficiency levels for 29 countries including some selected South Asian, East Asian and EU countries by means of data envelopment analysis. Luxembourg has an efficiency score of one (most efficient) in all the years analyzed. The Netherlands also have an efficiency score of one in 1966, 1971, 1976, and 1981. Japan, UK, Belgium, Ireland, Indonesia, Spain, and Germany have an efficiency score of one in at least one of the years from 1966 to 2000. In the year 2000 though, mean efficiency levels (excluding life expectancy as input) of South Asian countries are higher than those of the European countries (EU15 + Norway) and East Asian countries. In 1966–2000, Japan has the highest average efficiency followed by Hong Kong in the East Asian region. We also decompose labour productivity growth into components attributable to technological changes (shifts in the overall production frontier), technological catch-up or efficiency changes (movement to or off the frontier), capital accumulation (movement along the frontier), and human capital accumulation (proxied by life expectancy). The overall production frontier is constructed using deterministic methods requiring neither specification of functional form for the technology nor any assumption about market structure or absence of market imperfections. Growth accounting results tend to convey that labour productivity changes over 1966–2000 were induced mostly by efficiency changes (technological catch-up) in the case of East Asian and South Asian countries, and by technical changes in the case of the European countries (EU+ Norway). We also use Kernel densities to analyze the evolution of cross-country labour productivity distribution for the 29 countries included in our sample. There seem to be other factors, such as trade openness, government quality, populations’ growth rate, savings rate, corruption perception indices, rule-of-law index, social capital and trust variables, formal and informal rules governing the society not included in this growth accounting exercise, which may be primarily responsible for the existence of bi-modal labour productivity distribution for the countries in the sample. However, this growth accounting exercise does find that there is convergence in the statistical terms of efficiency changes and human capital accumulation across the countries of the EU and South and East Asia. Key words: capital accumulation, counterfactual distributions, cross-country labour productivity distribution, data envelopment analysis, efficiency change, growth accounting, human capital accumulation, kernel smoothing, technical efficiency, technological change |
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Bruno Wurm
Factual and conceptual fundamental principles of controlling
Journal of European Economy, Volume 4, Issue 4, December 2005, pp.442- 454
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The author characterises the controller’s work in middle and big businesses as the transposition of the function of management. Special attention is directed to tree groups of work: evaluation of operational accounting, management consulting, auditing, and organisation of company’s weak area elimination. Key words: auditing, controller, controlling, tasks of controlling organization, the controller’s specialist knowledge. |
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Ihor Zaytkovskyi
Integrated corporate structures under transition economy: compliance with the world standards of legal and economic practice
Journal of European Economy, Volume 4, Issue 4, December 2005, pp.455-470
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By analyzing the organizational and methodological principles and financial aspects of establishing integrated corporate structures in Ukraine, the author determines the degree of compliance of the domestic version of business groups organization with the world practice, as well as discusses the drawbacks of the legal basis for creation of the given structures. Key words: business-group, consolidation of industrial and financial capital, corporate rights, corporation, domestic capital market, economic power, holding, industrial and financial group, integration of enterprises, synergetic effects |
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