The present paper examines whether multinational companies adapt their global advertising campaigns to the country of destination or standardise their communication strategy. The contingency hypothesis is widely accepted as an appropriate solution for the standardisation/adaptation debate. However, little research has been conducted to reveal which contingency variables are actually considered by multinational companies to define the appropriate degree of adaptation. We assume that the decision whether to convince by information or emotions depends upon the economic condition of the country of destination. The frequency of specific design elements is supposed to be influenced by the cultural profile of the target country. A content analysis of German and Russian print advertisements supports our assumptions to a large extent. Nevertheless, we found that German car manufacturers address the high Power Distance Index (PDI) of the Russian Federation insufficiently.

Key words:
Adaptation, standardisation, cross-cultural marketing, advertising, car manufacturer.

The article is devoted to investigation of the different approaches to treatment of the «globalization» concept in tourism: first , globalization as a synonym for «internationalization» and second , globalization as one of four foreign expansion strategies of tourist enterprises. The authors analyze the processes of cooperation on the world tourist market in the hotel sphere, sphere of passenger air transfers and sphere of tourist services sales. The authors establish basic tendencies in the functioning of cooperative societies, strategic alliances and franchising systems under conditions of globalization. The authors conclude that already today high on the agenda come the new forms of cooperation, such as virtual networks of cooperative societies: from computer reservation systems – to virtual tourist bureaus and tour operators. However, systems of tourist services demand new forms of international cooperation – the cooperation between tourist ministries and tourist businesses and unions.

Key words:
Airlines, cooperation, cooperative society, franchising system, globalization, hotel concern, internationalization, strategic alliance, tourism, tourist agency.

The authors offer a theoretical substantiation of the hypothesis about the direct relationship between investment flows and import restrictions: after introduction of the quota, imposition or increase of the customs duty – the capital starts to inflow into the economy of this country. The major investors in this case are international companies, which view the country that applies protectionist policy instruments as a promising market which is worth of being fought for and participating in its redistribution. The theoretical substantiation of the hypothesis is supported with propositions about optimization of government’s activity in pursuing the protectionist policy, as well as with empirical findings from the history of international companies, including those on the territory of the Belarus Republic. The authors formulate the theoretical basics of the preventive blow which precedes the imposition of import restrictions. The sphere of hypothesis application is state management of economy.

Key words:
Import restrictions, investments, protectionism, import quota, customs duty, decision-making process.

The paper substantiates the idea of common expansion of Greece and Ukraine on the world market. The economies of both countries are such that they can complement each other. The services of Ukrainian dentists and physiotherapists could be in high demand in western countries. The development of trade in educational services stipulates for both the education of Ukrainian migrants and their children in Greece, and the creation of joint international educational establishments to educate citizens of third countries. The author assumes that under condition of uniting the consulting and marketing specialists, we can figure on sizable commercial success of Greek-Ukrainian firms at the educational services market of post-soviet area. The author proves the feasibility of fostering in Ukraine the educational tourism to Greece, which can also be integrated in the educational business, as well as draws the promising future for the joint business of Ukrainian and Greek tourist firms in development of travels to ancient cities located in Ukraine (Chersoneses, Peloponnesus, etc).

Key words:
Ukrainian-Greek economic relations, export, import, services of Ukrainian physicians, business services, trade in educational services between Ukraine and Greece, tourism, science-intensive services.

After the partial privatization of pension systems in Central and Eastern European countries, politicians have come to realize that the financing of public unfunded parts of the pension systems remains difficult. It is not sufficient to downsize the public unfunded pension systems and to hope simply that it becomes easier to finance a smaller burden. On the contrary, it is necessary to reform the design of the unfunded parts of the pension systems. In this paper, it is illustrated that the human capital theory implies the integration of future generations in the design of unfunded pension systems. A proposal is made as to how this reformed unfunded pension system based on human capital of subsequent generation might work, indicating also which problems must be solved.

Key words:
Social security, public pension reform, internalize positive externalities, human capital, human capital investments, old-age security motive for fertility, pension formula.

Basic concepts of fiscal federalism, principles and models of interbudget relations both in unitary, and in federal countries are analyzed. The urgency of this research is conditioned by availability of several administrative-territorial levels in each country, which are having specific relations in the area of money resources redistribution (that is similar to regional budgets either receiving grants or contributing to a central budget). The priority lines are suggested to intensify the budget independence of subnational governments from the view of present day international practice of fiscal federalism and interbudget transfers.

Key words:
Fiscal federalism, interbudget transfers, federalism models, decentralization theorem, Tiebout hypothesis, spillover, «feet voting», «expenditure mandates», «fly paper effect».

The multifunctionality of agricultural development is caused by the vulnerability of agricultural production under conditions of economic globalization. The WTO Agricultural Agreement contains provisions directed at agricultural sector diversification, in particular at the cost of state agricultural sector financing through «green basket» measures. For the Republic of Belarus, the development of ecoagrotourism-related activity could be an effective way of agricultural production diversification.

Key words:
Agricultural complex, agricultural production, agriculture, agrotourism, diversification, ecotourism, ecoagrotourism, globalization, urbanization.