Poland, although a few years ago was indicated among the countries that were in danger of falling into the middle income trap, nowadays in most studies is counted among the rich countries. Poland was examined in this article as a successful case of “escaping from middle income trap”. This article searched for the keys to the success story of Poland among its trade patterns. In the analysis the author used the product space approach first developed by Hidalgo et al. (2007), and added to it market analysis, mainly using the growth-share matrix of the Boston Consulting Group, first formulated by Henderson (1970). The results show that Poland is achieving a healthy transformation towards medium technology automotive and engineering products and some high technology products. To improve its position in world markets, Poland should also carefully examine the market structure of its exports.
{"title":"Escape from middle income trap: an export structure approach to the case of Poland","authors":"G. Bayar","doi":"10.15611/aoe.2021.2.07","DOIUrl":"https://doi.org/10.15611/aoe.2021.2.07","url":null,"abstract":"Poland, although a few years ago was indicated among the countries that were in danger of falling into the middle income trap, nowadays in most studies is counted among the rich countries. Poland was examined in this article as a successful case of “escaping from middle income trap”. This article searched for the keys to the success story of Poland among its trade patterns. In the analysis the author used the product space approach first developed by Hidalgo et al. (2007), and added to it market analysis, mainly using the growth-share matrix of the Boston Consulting Group, first formulated by Henderson (1970). The results show that Poland is achieving a healthy transformation towards medium technology automotive and engineering products and some high technology products. To improve its position in world markets, Poland should also carefully examine the market structure of its exports.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The authors studied the determinants of export complexity aiming at an assessment of the impact of European integration on increased sophistication of exported goods. It is possible that EU membership leads to higher export complexity due to the emergence of new (advanced-technology-oriented) comparative advantages and inflow of capital, for instance, in the form of FDI. At the same time, countries without the supply conditions necessary to produce sophisticated products, may specialize in goods that are less complex. Such a theoretical ambiguity leads to the need to empirically assess the importance of EU accession for export complexity.The study applied panel data analysis. The results indicate that the European Union may have increased the complexity in member states’ exports, especially in the less advanced economies.
{"title":"Does European integration make exports more complex?","authors":"Tomasz Serwach, Piotr Gabrielczak","doi":"10.15611/AOE.2021.1.07","DOIUrl":"https://doi.org/10.15611/AOE.2021.1.07","url":null,"abstract":"The authors studied the determinants of export complexity aiming at an assessment of the impact of European integration on increased sophistication of exported goods. It is possible that EU membership leads to higher export complexity due to the emergence of new (advanced-technology-oriented) comparative advantages and inflow of capital, for instance, in the form of FDI. At the same time, countries without the supply conditions necessary to produce sophisticated products, may specialize in goods that are less complex. Such a theoretical ambiguity leads to the need to empirically assess the importance of EU accession for export complexity.The study applied panel data analysis. The results indicate that the European Union may have increased the complexity in member states’ exports, especially in the less advanced economies.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aimed to measure the short and long-term relation between female unemployment and the basic factors for society’s human development, namely education, health conditions and income levels, therefore it was important to test the effect of inflation in the equation which deals with unemployment. The study covered the years from 1990 to 2016, and used the United Nations Development Programme’s (UNDP) Human Development Index (HDI) to measure human development and the obtained real human development values for Turkey. To analyse the effects of real human development, information and communication technologies (ICT) and inflation on female unemployment, the Autoregressive Distributed Lag (ARDL) bounds test and the Engle–Granger test was used. As a result of the analysis, a reasonably strong, significant and negative relation was found between human development and female unemployment in the long term.
{"title":"The short and long-term relation between human development and female unemployment: the case of Turkey","authors":"Halim Tatli, Kenan Tasci","doi":"10.15611/aoe.2021.2.10","DOIUrl":"https://doi.org/10.15611/aoe.2021.2.10","url":null,"abstract":"This study aimed to measure the short and long-term relation between female unemployment and the basic factors for society’s human development, namely education, health conditions and income levels, therefore it was important to test the effect of inflation in the equation which deals with unemployment. The study covered the years from 1990 to 2016, and used the United Nations Development Programme’s (UNDP) Human Development Index (HDI) to measure human development and the obtained real human development values for Turkey. To analyse the effects of real human development, information and communication technologies (ICT) and inflation on female unemployment, the Autoregressive Distributed Lag (ARDL) bounds test and the Engle–Granger test was used. As a result of the analysis, a reasonably strong, significant and negative relation was found between human development and female unemployment in the long term.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
For Generation Z (born after 1995) tourism during the summer usually means visiting festivals (especially music festivals) seeking extraordinary experiences. For them the classic tourist attractions are not satisfying and interesting anymore. The aim of the paper was to examine the measurement methods for sharing experiences related to these festivals and tourist programmes, and understand how other tourists use these shared experiences during the information gathering phase. The methodology is based on literature review and quantitative primary research. A structured questionnaire was used for the quantitative research focusing on the motivations of sharing travel experience and sources of information gathering. The data were collected by means of an on line survey via LimeSurvey, and descriptive statistics was used to interpret the acquired data. As a result of the quantitative research, three different groups of Hungarian youngsters visiting local music festivals were formed. For them, sharing that experience means different things: some only create memories for themselves, some try to create valuable content that may help others, and some want to become a social media celebrity. They use social media and they also gather information in a different way. Knowing how these groups use social media to share experiences and to get information are key factors for marketing managers in order to use an efficient communication method with each group. It is also an important factor to understand the differences in people’s motivations with the aim to create a well-planned marketing campaign.
{"title":"Understanding visitors’ motivations of sharing experiences related to Hungarian tourism events and festivals","authors":"T. Iványi, Szilvia Bíró-Szigeti","doi":"10.15611/aoe.2021.2.05","DOIUrl":"https://doi.org/10.15611/aoe.2021.2.05","url":null,"abstract":"For Generation Z (born after 1995) tourism during the summer usually means visiting festivals (especially music festivals) seeking extraordinary experiences. For them the classic tourist attractions are not satisfying and interesting anymore. The aim of the paper was to examine the measurement methods for sharing experiences related to these festivals and tourist programmes, and understand how other tourists use these shared experiences during the information gathering phase. The methodology is based on literature review and quantitative primary research. A structured questionnaire was used for the quantitative research focusing on the motivations of sharing travel experience and sources of information gathering. The data were collected by means of an on line survey via LimeSurvey, and descriptive statistics was used to interpret the acquired data. As a result of the quantitative research, three different groups of Hungarian youngsters visiting local music festivals were formed. For them, sharing that experience means different things: some only create memories for themselves, some try to create valuable content that may help others, and some want to become a social media celebrity. They use social media and they also gather information in a different way. Knowing how these groups use social media to share experiences and to get information are key factors for marketing managers in order to use an efficient communication method with each group. It is also an important factor to understand the differences in people’s motivations with the aim to create a well-planned marketing campaign.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The importance of knowledge for the success of modern organizations results in growing interest in the issue of the professional development and the employability of public sector employees. Constant development and professional training are necessary. This situation poses a serious challenge for many employees, affecting their job satisfaction and opportunities for career success. The paper attempted to answer the question of what are the relations between training and professional development, and employability, job satisfaction and the subjective career success of public sector employees? This goal was achieved by examining the results of surveys conducted in public sector organizations. The results indicate that employee training and development positively influence employability, as well as employee career success and job satisfaction. Moreover, the positive impact of job satisfaction on subjective career success was identified.
{"title":"The role of training in improving employability, job satisfaction and the career success of public sector employees","authors":"I. Marzec, A. Austen","doi":"10.15611/aoe.2021.2.08","DOIUrl":"https://doi.org/10.15611/aoe.2021.2.08","url":null,"abstract":"The importance of knowledge for the success of modern organizations results in growing interest in the issue of the professional development and the employability of public sector employees. Constant development and professional training are necessary. This situation poses a serious challenge for many employees, affecting their job satisfaction and opportunities for career success. The paper attempted to answer the question of what are the relations between training and professional development, and employability, job satisfaction and the subjective career success of public sector employees? This goal was achieved by examining the results of surveys conducted in public sector organizations. The results indicate that employee training and development positively influence employability, as well as employee career success and job satisfaction. Moreover, the positive impact of job satisfaction on subjective career success was identified.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"21 6 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67085454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Małgorzata Iwanicz-Drozdowska, Marta Penczar, L. Kujawski, Monika Liszewska
The paper analyses the bank-specific and macroeconomic factors which determined the share of deposits in the funding structure of 184 EU listed banks in 2004-2016. The findings show that the global financial crisis (GFC) was one of the main factors that influenced the banks’ funding models. The authors document the banks’ return to funding from retail and corporate deposit markets, reducing the diversity in European banking sectors. The paper reports that the set of determinants affecting the banks’ funding policies were different in the GFC in comparison to periods before and after the crisis. The authors concluded that the influence of the net loans to the total deposit ratio on the deposit to total assets ratio was higher in the crisis period. On the other hand, return on assets had a lower negative impact on the banks’ funding model since they were forced to improve their profitability during the GFC. 1
{"title":"Deposits as a stable source of bank funding. Did the global finance crisis influence the banks’ funding structure?","authors":"Małgorzata Iwanicz-Drozdowska, Marta Penczar, L. Kujawski, Monika Liszewska","doi":"10.15611/aoe.2021.2.02","DOIUrl":"https://doi.org/10.15611/aoe.2021.2.02","url":null,"abstract":"The paper analyses the bank-specific and macroeconomic factors which determined the share of deposits in the funding structure of 184 EU listed banks in 2004-2016. The findings show that the global financial crisis (GFC) was one of the main factors that influenced the banks’ funding models. The authors document the banks’ return to funding from retail and corporate deposit markets, reducing the diversity in European banking sectors. The paper reports that the set of determinants affecting the banks’ funding policies were different in the GFC in comparison to periods before and after the crisis. The authors concluded that the influence of the net loans to the total deposit ratio on the deposit to total assets ratio was higher in the crisis period. On the other hand, return on assets had a lower negative impact on the banks’ funding model since they were forced to improve their profitability during the GFC. 1","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"19 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Under the Basel III and Basel IV accords, risk model validation remains based on the VaR measure. According to the industry practice, VaR backtesting procedures rely on two likelihood ratio tests, which, in light of the academic research, have been criticized for their unsatisfactory power. This paper aims to show the differences between VaR model evaluation based on the standard likelihood ratio approach and backtesting by means of other econometric methods applicable to the binary VaR failure process. The author decomposed the model evaluation into testing the unconditional coverage, replaced the likelihood ratio with a normal statistic, and in the next stage in order to verify the conditional coverage, employed the Ljung-Box statistic. The study experimentally confirmed the superiority of the proposed procedures over the industry standards. The main contribution, however, is the empirical study designed to demonstrate the practical differences in risk analysis attributable to the choice of the backtesting method. Using data on leading stock market indexes, from various periods, the author showed that the practical conclusions from backtesting diverge markedly due to the test choice. The proposed, more powerful tests, contrary to the standard procedures, allowed for distinguishing distinct models of index behaviour connected with undergoing the financial crises.
{"title":"Industry standard and econometric standard: the search for powerful approach to evaluate var models","authors":"Marta Małecka","doi":"10.15611/AOE.2021.1.01","DOIUrl":"https://doi.org/10.15611/AOE.2021.1.01","url":null,"abstract":"Under the Basel III and Basel IV accords, risk model validation remains based on the VaR measure. According to the industry practice, VaR backtesting procedures rely on two likelihood ratio tests, which, in light of the academic research, have been criticized for their unsatisfactory power. This paper aims to show the differences between VaR model evaluation based on the standard likelihood ratio approach and backtesting by means of other econometric methods applicable to the binary VaR failure process. The author decomposed the model evaluation into testing the unconditional coverage, replaced the likelihood ratio with a normal statistic, and in the next stage in order to verify the conditional coverage, employed the Ljung-Box statistic. The study experimentally confirmed the superiority of the proposed procedures over the industry standards. The main contribution, however, is the empirical study designed to demonstrate the practical differences in risk analysis attributable to the choice of the backtesting method. Using data on leading stock market indexes, from various periods, the author showed that the practical conclusions from backtesting diverge markedly due to the test choice. The proposed, more powerful tests, contrary to the standard procedures, allowed for distinguishing distinct models of index behaviour connected with undergoing the financial crises.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research funded by the National Science Centre in Cracow in the framework of the project entitled “Competence potential of selected employees groups in terms of diversity management in innovative enterprises” 2013/09/B/HS4/01307.
{"title":"Well-being and job satisfaction of employees aged 50+, perceived organizational support for development and innovation","authors":"A. Rakowska, S. D. Juana-Espinosa, I. Mendryk","doi":"10.15611/aoe.2020.1.07","DOIUrl":"https://doi.org/10.15611/aoe.2020.1.07","url":null,"abstract":"Research funded by the National Science Centre in Cracow in the framework of the project entitled “Competence potential of selected employees groups in terms of diversity management in innovative enterprises” 2013/09/B/HS4/01307.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In an environment of growing real prices and changing consumption patterns in the tobacco market, the question arises whether the price elasticities of demand may be estimated as constant parameters over multi-annual samples. The authors develop a methodological framework for estimating time-varying demand elasticities in a state-space model, estimated via maximum likelihood based on the Kalman filter. This model is applied to evaluate various, alternative paths of tobacco excise tax rates. Importantly, both in estimation and in simulations, the authors account not only for changes in the level, but also in the structure of excise tax by exploring the market segmentation into a lower and a higher end of the market. This allows the authors to contribute to the existing literature about the optimum structuring of the tax between the specific and ad valorem rates and to analyse the Laffer surface (rather than a curve). The measurement results indicate some growth in the magnitude of price elasticity of demand since 2005, and the simulations show that the differences between the actual and the optimum taxation policy for tobacco products were marginal in the 2014-2018 period.
{"title":"How time-varying elasticities of demand translate into the excise-related laffer surface","authors":"Bartosz Olesiński, Marek Rozkrut, Andrzej Torój","doi":"10.15611/aoe.2020.1.11","DOIUrl":"https://doi.org/10.15611/aoe.2020.1.11","url":null,"abstract":"In an environment of growing real prices and changing consumption patterns in the tobacco market, the question arises whether the price elasticities of demand may be estimated as constant parameters over multi-annual samples. The authors develop a methodological framework for estimating time-varying demand elasticities in a state-space model, estimated via maximum likelihood based on the Kalman filter. This model is applied to evaluate various, alternative paths of tobacco excise tax rates. Importantly, both in estimation and in simulations, the authors account not only for changes in the level, but also in the structure of excise tax by exploring the market segmentation into a lower and a higher end of the market. This allows the authors to contribute to the existing literature about the optimum structuring of the tax between the specific and ad valorem rates and to analyse the Laffer surface (rather than a curve). The measurement results indicate some growth in the magnitude of price elasticity of demand since 2005, and the simulations show that the differences between the actual and the optimum taxation policy for tobacco products were marginal in the 2014-2018 period.","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"2019 1","pages":"257-299"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Do firms really need public support in order to offer product and process innovations? Recent articles and professional reports reflect the importance of public support for private innovations. The issue is actual and relevant both from scientific and practical points of view. Public support for actions aimed at developing crucial innovations is an example of creating institutional incentives for the desired behaviour of firms. The question of public support for innovations is critical for ongoing national and international policies in raising the innovativeness of economies. The main goal of the paper is to review the idea of public support for innovativeness and to verify its effects in European countries empirically, by using simple probit and bivariate probit models. This paper aims to provide a systematic analysis of the problem from an institutional perspective. The results of the analysis contribute to a better understanding of the nature of public spending on private innovations and the outcome of such innovation policies. It is also an added value to the discussion over actual public policies which has been so far inconclusive
{"title":"Incentives for private innovations – is public support necessary?","authors":"A. Lewczuk, Jacek Lewkowicz","doi":"10.15611/aoe.2020.2.05","DOIUrl":"https://doi.org/10.15611/aoe.2020.2.05","url":null,"abstract":"Do firms really need public support in order to offer product and process innovations? Recent articles and professional reports reflect the importance of public support for private innovations. The issue is actual and relevant both from scientific and practical points of view. Public support for actions aimed at developing crucial innovations is an example of creating institutional incentives for the desired behaviour of firms. The question of public support for innovations is critical for ongoing national and international policies in raising the innovativeness of economies. The main goal of the paper is to review the idea of public support for innovativeness and to verify its effects in European countries empirically, by using simple probit and bivariate probit models. This paper aims to provide a systematic analysis of the problem from an institutional perspective. The results of the analysis contribute to a better understanding of the nature of public spending on private innovations and the outcome of such innovation policies. It is also an added value to the discussion over actual public policies which has been so far inconclusive","PeriodicalId":43088,"journal":{"name":"Argumenta Oeconomica","volume":"2020 1","pages":"105-139"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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