Abstract Mathematical models of economic dynamics and growth are usually expressed in terms of differential equations/inclusions (in the case of continuous time) or difference equations/inclusions (if discrete time is assumed).3 This class of models includes von Neumann-Leontief-Gale type dynamic input-output models to which the paper refers. The paper focuses on the turnpike stability of optimal growth processes in a Gale non-stationary economy with discrete time in the neighbourhood of von Neumann dynamic equilibrium states (so-called growth equilibrium). The paper refers to Panek (2019, 2020) and shows an intermediate result between the strong and very strong turnpike theorem in the non-stationary Gale economy with changing technology assuming that the prices of temporary equilibrium in such an economy (so-called von Neumann prices) do not change rapidly. The aim of the paper is to bring mathematical proof that the introduction of these assumptions making the model more realistic does not change its asymptotic (turnpike-like) properties.
{"title":"Almost “very strong” multilane turnpike effect in a non-stationary Gale economy with a temporary von Neumann equilibrium and price constraints","authors":"E. Panek","doi":"10.18559/ebr.2020.2.5","DOIUrl":"https://doi.org/10.18559/ebr.2020.2.5","url":null,"abstract":"Abstract Mathematical models of economic dynamics and growth are usually expressed in terms of differential equations/inclusions (in the case of continuous time) or difference equations/inclusions (if discrete time is assumed).3 This class of models includes von Neumann-Leontief-Gale type dynamic input-output models to which the paper refers. The paper focuses on the turnpike stability of optimal growth processes in a Gale non-stationary economy with discrete time in the neighbourhood of von Neumann dynamic equilibrium states (so-called growth equilibrium). The paper refers to Panek (2019, 2020) and shows an intermediate result between the strong and very strong turnpike theorem in the non-stationary Gale economy with changing technology assuming that the prices of temporary equilibrium in such an economy (so-called von Neumann prices) do not change rapidly. The aim of the paper is to bring mathematical proof that the introduction of these assumptions making the model more realistic does not change its asymptotic (turnpike-like) properties.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"98 1","pages":"66 - 80"},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90528195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
“Poverty has no causes, wealth has causes”—this statement, attributed to the development economist Peter Bauer (1915-2002),1 may serve as the title of a book on the entire history of growth theory since Adam Smith’s An inquiry into the nature and causes of the wealth of nations (Smith, 1776). Indeed to understand why the standard of living differs across people, countries and time we need to understand the causes of wealth. This is the topic of the current Economics and Business Review. With this issue the Review honours the outstanding contribution of Professor Oded Galor, Herbert H. Goldberger Professor of Economics at Brown University, to the field of growth theory. At the same time it celebrates the degree of doctor honoris causa that the Poznań University of Economics and Business conferred on him in 2019.2 Oded Galor’s eminent research on the causes and the consequences of economic growth has substantially advanced our understanding of how and why economies accumulate wealth differently. His research has a tremendous impact on the scientific community. The breadth as well as the depth of his research agenda is impressive.3 Seminal contributions to the fields of inequality and economic growth (Galor & Zeira, 1993) and of comparative development (Ashraf & Galor, 2011) stand out. Research papers like Galor and Moav (2002) and Ashraf and Galor (2013) initiated a new literature on the deep roots in comparative economic development. In the profession and beyond, Oded Galor is probably best known as the founder of Unified Growth Theory (Galor, 2005, 2011). This fascinating theory depicts humanity’s process of economic development from the Malthusian Regime to the Modern Growth Regime in a single analytical framework that accounts for the specifics of each regime as well as for the endogenous transition between them. The first paper of this issue is Oded Galor’s article The journey of humanity: Roots of inequality in the wealth of nations. Here the author provides a brief and concise world economic history from the vantage point of Unified Growth Theory. Covering the time span from the appearance of Homo sapiens some 300,000 years up to now his focus is on two striking mysteries of human history namely, i) the emergence of sustained economic growth in large parts of
“贫穷没有原因，财富有原因”——这句出自发展经济学家彼得·鲍尔(1915-2002)的话，可以作为自亚当·斯密的《国家财富的性质和原因的探究》(史密斯，1776)以来关于整个增长理论历史的一本书的标题。的确，要理解为什么不同的人、不同的国家和不同的时代的生活水平不同，我们需要了解财富的成因。这是本期《经济与商业评论》的主题。本期《经济评论》向布朗大学(Brown University)赫伯特·h·戈德伯格(Herbert H. Goldberger)经济学教授奥德·加罗尔(Oded Galor)教授在增长理论领域做出的杰出贡献表示敬意。与此同时，它庆祝波兹纳瓦经济与商业大学于2019年授予他荣誉博士学位。奥德·加洛尔在经济增长的原因和后果方面的杰出研究，大大提高了我们对经济如何以及为何以不同方式积累财富的理解。他的研究对科学界产生了巨大的影响。他研究议程的广度和深度都令人印象深刻在不平等和经济增长(Galor & Zeira, 1993)和比较发展(Ashraf & Galor, 2011)领域的开创性贡献脱颖而出。Galor and Moav(2002)和Ashraf and Galor(2013)等研究论文开创了关于比较经济发展深层根源的新文献。在这个行业内外，Oded Galor可能是最著名的统一增长理论的创始人(Galor, 2005,2011)。这个引人入胜的理论描述了人类经济发展的过程，从马尔萨斯制度到现代增长制度，在一个单一的分析框架，说明了每个制度的特点，以及它们之间的内生过渡。本期的第一篇论文是奥德·加洛的文章《人类之旅:国家财富不平等的根源》。在这里，作者从统一增长理论的角度提供了一个简短而简洁的世界经济史。从智人出现到现在的30万年时间跨度，他的重点是人类历史上两个惊人的谜团，即:1)在大部分地区出现持续的经济增长
{"title":"Editorial introduction","authors":"Andreas Irmen","doi":"10.18559/ebr.2020.2.1","DOIUrl":"https://doi.org/10.18559/ebr.2020.2.1","url":null,"abstract":"“Poverty has no causes, wealth has causes”—this statement, attributed to the development economist Peter Bauer (1915-2002),1 may serve as the title of a book on the entire history of growth theory since Adam Smith’s An inquiry into the nature and causes of the wealth of nations (Smith, 1776). Indeed to understand why the standard of living differs across people, countries and time we need to understand the causes of wealth. This is the topic of the current Economics and Business Review. With this issue the Review honours the outstanding contribution of Professor Oded Galor, Herbert H. Goldberger Professor of Economics at Brown University, to the field of growth theory. At the same time it celebrates the degree of doctor honoris causa that the Poznań University of Economics and Business conferred on him in 2019.2 Oded Galor’s eminent research on the causes and the consequences of economic growth has substantially advanced our understanding of how and why economies accumulate wealth differently. His research has a tremendous impact on the scientific community. The breadth as well as the depth of his research agenda is impressive.3 Seminal contributions to the fields of inequality and economic growth (Galor & Zeira, 1993) and of comparative development (Ashraf & Galor, 2011) stand out. Research papers like Galor and Moav (2002) and Ashraf and Galor (2013) initiated a new literature on the deep roots in comparative economic development. In the profession and beyond, Oded Galor is probably best known as the founder of Unified Growth Theory (Galor, 2005, 2011). This fascinating theory depicts humanity’s process of economic development from the Malthusian Regime to the Modern Growth Regime in a single analytical framework that accounts for the specifics of each regime as well as for the endogenous transition between them. The first paper of this issue is Oded Galor’s article The journey of humanity: Roots of inequality in the wealth of nations. Here the author provides a brief and concise world economic history from the vantage point of Unified Growth Theory. Covering the time span from the appearance of Homo sapiens some 300,000 years up to now his focus is on two striking mysteries of human history namely, i) the emergence of sustained economic growth in large parts of","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"61 1","pages":"3 - 6"},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90840095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of this paper is to examine a complex pattern of mutual interdependence between Unified Growth Theory (subroutine) and the evolution of the entire field of economic growth theories (main routine) from a philosophical and methodological perspective. The analysis utilises the recently introduced concept of research routine (and respectively, subroutine) aimed at an explanation of the evolution of scientific research. The study identifies the influence of the subroutine (and its specific concept of demographic transition) on the core concepts of the main routine: human capital, population growth and learning. The results are based on network analyses of extensive bibliometric evidence from Scopus and the Web of Knowledge.
摘要本文旨在从哲学和方法论的角度审视统一增长理论(子程序)与整个经济增长理论领域(主程序)的演变之间相互依存的复杂模式。分析利用了最近引入的研究例程(以及相应的子例程)的概念，旨在解释科学研究的演变。该研究确定了子程序(及其人口转型的具体概念)对主程序的核心概念:人力资本、人口增长和学习的影响。这些结果是基于对来自Scopus和Web of Knowledge的大量文献计量证据的网络分析。
{"title":"The dynamics of theories of economic growth: An impact of Unified Growth Theory","authors":"P. Kawalec","doi":"10.18559/ebr.2020.2.3","DOIUrl":"https://doi.org/10.18559/ebr.2020.2.3","url":null,"abstract":"Abstract The aim of this paper is to examine a complex pattern of mutual interdependence between Unified Growth Theory (subroutine) and the evolution of the entire field of economic growth theories (main routine) from a philosophical and methodological perspective. The analysis utilises the recently introduced concept of research routine (and respectively, subroutine) aimed at an explanation of the evolution of scientific research. The study identifies the influence of the subroutine (and its specific concept of demographic transition) on the core concepts of the main routine: human capital, population growth and learning. The results are based on network analyses of extensive bibliometric evidence from Scopus and the Web of Knowledge.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"126 1","pages":"19 - 44"},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75824624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The Israeli economy in the first two decades of the 21st century is an example of an economic transformation that may serve as a role model for addressing many challenges to economic growth. Data from this period have shown significant developments in economic growth over this relatively short period of time and indicate that these advances are attributable to policies targeting inflation, labor force participation and education. While challenges remain—including economic inequality, suboptimal health care and the threat of coronavirus pandemic to global growth—we explore developments evidenced to promote economic growth.
{"title":"Macroeconomic performance of the Israeli economy in the 21st millennium","authors":"Yochanan Shachmurove, B. Zilberfarb","doi":"10.18559/ebr.2020.2.4","DOIUrl":"https://doi.org/10.18559/ebr.2020.2.4","url":null,"abstract":"Abstract The Israeli economy in the first two decades of the 21st century is an example of an economic transformation that may serve as a role model for addressing many challenges to economic growth. Data from this period have shown significant developments in economic growth over this relatively short period of time and indicate that these advances are attributable to policies targeting inflation, labor force participation and education. While challenges remain—including economic inequality, suboptimal health care and the threat of coronavirus pandemic to global growth—we explore developments evidenced to promote economic growth.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"37 1","pages":"45 - 65"},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85809652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract In the article an attempt is made to identify the quality of credit exposure determinants of banks in European Union countries that were characterized by a high level of impaired loans at the end of 2017 (Bulgaria, Croatia, Cyprus, Italy, Ireland, Greece, Portugal). Using the static panel-based approach the non-performing loan (NPL) determinants for the period from 2011 to 2017 were analyzed. The results showed that the high level of NPLs can be explained mainly by both macroeconomic and microeconomic factors. In particular, it has been shown that in the surveyed countries supervisory authorities should pay special attention to smaller banks with high dynamics of new loans and a low return on assets due to the fact that these entities are characterized by a higher NPL ratio. A higher level of NPL is also affected by a high concentration of the banking sector and higher interest rates on newly granted loans. As a result of research it was also shown that the majority of NPL determinants are the same in all types of banks, regardless of the business model and the scope of banking supervision. The differences were noticeable in characteristics regarding the housing market as well as the profitability of operations and lending dynamics of the analyzed entities.
{"title":"Determinants of the non-performing loan ratio in the European Union banking sectors with a high level of impaired loans","authors":"R. Ciukaj, K. Kil","doi":"10.18559/ebr.2020.1.2","DOIUrl":"https://doi.org/10.18559/ebr.2020.1.2","url":null,"abstract":"Abstract In the article an attempt is made to identify the quality of credit exposure determinants of banks in European Union countries that were characterized by a high level of impaired loans at the end of 2017 (Bulgaria, Croatia, Cyprus, Italy, Ireland, Greece, Portugal). Using the static panel-based approach the non-performing loan (NPL) determinants for the period from 2011 to 2017 were analyzed. The results showed that the high level of NPLs can be explained mainly by both macroeconomic and microeconomic factors. In particular, it has been shown that in the surveyed countries supervisory authorities should pay special attention to smaller banks with high dynamics of new loans and a low return on assets due to the fact that these entities are characterized by a higher NPL ratio. A higher level of NPL is also affected by a high concentration of the banking sector and higher interest rates on newly granted loans. As a result of research it was also shown that the majority of NPL determinants are the same in all types of banks, regardless of the business model and the scope of banking supervision. The differences were noticeable in characteristics regarding the housing market as well as the profitability of operations and lending dynamics of the analyzed entities.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"213 1","pages":"22 - 45"},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73231155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of this paper is to bring together some of the foundational and recent literature interlinking corporate governance and the leadership role of the board of directors. Strategic leadership is widely assumed to be a responsibility that defaults to the Chief Executive Officers (CEOs). However, in practice, what most CEOs do is strategic management rather than strategic leadership. While strategic management does share key aspects of strategic leadership CEOs are expected to prioritize the managerial side over the leadership side. This is just one of the situations in which the board-room assumes the leadership role. This paper discusses how boards of directors conduct the process of strategic leadership in their organizations. In recent years there has been an increasing interest among scholars to understand how boards strategize from a behavioral point of view. This growing interest has resulted in the development of various typologies regarding boards’ involvement in the strategic leadership processes.
{"title":"Boardroom leadership: The board of directors as a source of strategic leadership","authors":"J. Castellanos, Babu George","doi":"10.18559/ebr.2020.1.5","DOIUrl":"https://doi.org/10.18559/ebr.2020.1.5","url":null,"abstract":"Abstract The aim of this paper is to bring together some of the foundational and recent literature interlinking corporate governance and the leadership role of the board of directors. Strategic leadership is widely assumed to be a responsibility that defaults to the Chief Executive Officers (CEOs). However, in practice, what most CEOs do is strategic management rather than strategic leadership. While strategic management does share key aspects of strategic leadership CEOs are expected to prioritize the managerial side over the leadership side. This is just one of the situations in which the board-room assumes the leadership role. This paper discusses how boards of directors conduct the process of strategic leadership in their organizations. In recent years there has been an increasing interest among scholars to understand how boards strategize from a behavioral point of view. This growing interest has resulted in the development of various typologies regarding boards’ involvement in the strategic leadership processes.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"6 1","pages":"103 - 119"},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78116942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The main goal of this research is to analyse the investment benefits from an incorporation of the volatility exposure to the diversified portfolio from the perspective of a Polish investor. Volatility, treated as a new asset class, may improve the performance of the portfolio due to its negative correlation with most types of assets. This topic has been widely investigated for the United States and Europe whereas the Polish market appears to be not heavily researched and this study may fill this gap. The research covers the period from October 2010 to July 2018 and is performed on daily close prices. To construct the portfolios the analysis uses the mean-variance framework and the naïve diversification approach. The comparison of risk-adjusted returns between investments with and without volatility exposure enables an answer to the research question about an improvement of the results by the addition of a non-standard asset to the diversified portfolios. The VXX is considered as the proxy for volatility as it is the most popular ETN which follows the volatility index derivatives with the given maturity. To test the robustness of the results the portfolios are constructed with a broad range of different parameters and assumptions imposed on the optimization procedure.
{"title":"Does the inclusion of exposure to volatility into diversified portfolio improve the investment results? Portfolio construction from the perspective of a Polish investor","authors":"Michał Latoszek, R. Ślepaczuk","doi":"10.18559/ebr.2020.1.3","DOIUrl":"https://doi.org/10.18559/ebr.2020.1.3","url":null,"abstract":"Abstract The main goal of this research is to analyse the investment benefits from an incorporation of the volatility exposure to the diversified portfolio from the perspective of a Polish investor. Volatility, treated as a new asset class, may improve the performance of the portfolio due to its negative correlation with most types of assets. This topic has been widely investigated for the United States and Europe whereas the Polish market appears to be not heavily researched and this study may fill this gap. The research covers the period from October 2010 to July 2018 and is performed on daily close prices. To construct the portfolios the analysis uses the mean-variance framework and the naïve diversification approach. The comparison of risk-adjusted returns between investments with and without volatility exposure enables an answer to the research question about an improvement of the results by the addition of a non-standard asset to the diversified portfolios. The VXX is considered as the proxy for volatility as it is the most popular ETN which follows the volatility index derivatives with the given maturity. To test the robustness of the results the portfolios are constructed with a broad range of different parameters and assumptions imposed on the optimization procedure.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"1 1","pages":"46 - 81"},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88918810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Following Chilean experiences as well as the World Bank suggestions post-communist Poland and post-collectivist Israel—underwent deep reforms which led to the privatization of old age security. The aim of the article is to compare the Polish and Israeli paths of pension privatization in the last thirty years. The main conclusions are: (1) the economic, demographic and political environments at the moment of the design and implementation of the pension reform were quite similar in both countries; however (2) the scope and scale of the privatization was different: in Poland there was only partial shift towards private pension system while in Israel full privatization of the system was implemented; (3) the decisive factors were: the inertia of the already existing pension systems and the power of foreign influencers; (4) the retreat from privatization in Poland and the increase in Israel took place due to the different mix of disadvantages of the new pension arrangements, short-term political aims and international pressure.
{"title":"Shift to private pension system: The case of Poland and Israel","authors":"Moshe Manor, Joanna Ratajczak","doi":"10.18559/ebr.2020.1.4","DOIUrl":"https://doi.org/10.18559/ebr.2020.1.4","url":null,"abstract":"Abstract Following Chilean experiences as well as the World Bank suggestions post-communist Poland and post-collectivist Israel—underwent deep reforms which led to the privatization of old age security. The aim of the article is to compare the Polish and Israeli paths of pension privatization in the last thirty years. The main conclusions are: (1) the economic, demographic and political environments at the moment of the design and implementation of the pension reform were quite similar in both countries; however (2) the scope and scale of the privatization was different: in Poland there was only partial shift towards private pension system while in Israel full privatization of the system was implemented; (3) the decisive factors were: the inertia of the already existing pension systems and the power of foreign influencers; (4) the retreat from privatization in Poland and the increase in Israel took place due to the different mix of disadvantages of the new pension arrangements, short-term political aims and international pressure.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"86 1","pages":"102 - 82"},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74012301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract With the increase in global spatial mobility the importance of migration policy (including integration policy) is increasing day by day, both in developed countries and new market economies. In the course of the research on migration policy various measures were constructed. Even though the particular measures relate to different areas of migration policy, they do not refer to the effectiveness of migration policy. The aim of this study is to assess the effectiveness of the integration of immigrants into the labour market in the countries that belong to the Organisation for Economic Co-Operation and Development (OECD) and to analyse the relationships between these effects and the integration policy adopted by the individual countries. The TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) method and the CRITIC (Criteria Importance Through Intercriteria Correlation) method were used in the research. The results indicate that the highest effectiveness of migration policy in terms of integration of immigrants into the labour market was reported in the following OECD countries: Iceland, Switzerland and New Zealand. The results also suggest that the higher the level of integration policy restrictiveness in a given country, the worse the effects in terms of integration of immigrants into the labour market that were noticed by this country.
{"title":"Integration of immigrants and the role of policy in the OECD countries","authors":"K. Wożniak","doi":"10.18559/ebr.2020.1.1","DOIUrl":"https://doi.org/10.18559/ebr.2020.1.1","url":null,"abstract":"Abstract With the increase in global spatial mobility the importance of migration policy (including integration policy) is increasing day by day, both in developed countries and new market economies. In the course of the research on migration policy various measures were constructed. Even though the particular measures relate to different areas of migration policy, they do not refer to the effectiveness of migration policy. The aim of this study is to assess the effectiveness of the integration of immigrants into the labour market in the countries that belong to the Organisation for Economic Co-Operation and Development (OECD) and to analyse the relationships between these effects and the integration policy adopted by the individual countries. The TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) method and the CRITIC (Criteria Importance Through Intercriteria Correlation) method were used in the research. The results indicate that the highest effectiveness of migration policy in terms of integration of immigrants into the labour market was reported in the following OECD countries: Iceland, Switzerland and New Zealand. The results also suggest that the higher the level of integration policy restrictiveness in a given country, the worse the effects in terms of integration of immigrants into the labour market that were noticed by this country.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"37 1 1","pages":"21 - 3"},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89143787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Countries can check the performance of their logistics’ activities to determine their competitiveness in trade logistics. One way to check these performances is to analyze the country’s LPI value in detail which is released by the WB every two years. When calculating the LPI, six indicators (criteria) are taken into account. The weights (importance level) of these criteria are important for countries which would like to focus more on the most important criteria and move their ranking up in the LPI list. However the WB takes into account indicators (criteria) weights equally when calculating LPI values. In order to overcome this problem some studies have used subjective weighting methods and others have used objective weighting methods. Both methods have advantages and disadvantages. The aim of this study is to integrate two weighting methods (subjective (SWARA) and objective (CRITIC)) in determining the weights of criteria in order to balance the two weighting methods. Unlike other studies in the literature this study combines two weighting methods. Additionally the PIV method, which is seldom used to address any MCDM problem, is used in this study and a new integrated MCDM model is introduced to literature. In this respect this study contributes to the literature.
{"title":"An analysis of the logistics performance index of EU countries with an integrated MCDM model","authors":"A. Ulutaş, Çağatay Karaköy","doi":"10.18559/ebr.2019.4.3","DOIUrl":"https://doi.org/10.18559/ebr.2019.4.3","url":null,"abstract":"Abstract Countries can check the performance of their logistics’ activities to determine their competitiveness in trade logistics. One way to check these performances is to analyze the country’s LPI value in detail which is released by the WB every two years. When calculating the LPI, six indicators (criteria) are taken into account. The weights (importance level) of these criteria are important for countries which would like to focus more on the most important criteria and move their ranking up in the LPI list. However the WB takes into account indicators (criteria) weights equally when calculating LPI values. In order to overcome this problem some studies have used subjective weighting methods and others have used objective weighting methods. Both methods have advantages and disadvantages. The aim of this study is to integrate two weighting methods (subjective (SWARA) and objective (CRITIC)) in determining the weights of criteria in order to balance the two weighting methods. Unlike other studies in the literature this study combines two weighting methods. Additionally the PIV method, which is seldom used to address any MCDM problem, is used in this study and a new integrated MCDM model is introduced to literature. In this respect this study contributes to the literature.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":"20 1","pages":"49 - 69"},"PeriodicalIF":0.7,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89452783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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