Abstract The article presents the gist, the kinds and manifestations of justice, with the discussion of the controversies around social justice. The analysis deals with the relationship between social justice and economic efficiency and effectiveness – especially in the environmental protection – as well as the concepts of international and cross-generational justice. In summary, the authors discussed inequality of income and the structure of welfare benefits as well as the scale of poverty and social exclusion in Poland.
{"title":"The Issues of Justice in Economic and Environmental Policy","authors":"K. Górka, Agnieszka Thier","doi":"10.2478/ceej-2021-0013","DOIUrl":"https://doi.org/10.2478/ceej-2021-0013","url":null,"abstract":"Abstract The article presents the gist, the kinds and manifestations of justice, with the discussion of the controversies around social justice. The analysis deals with the relationship between social justice and economic efficiency and effectiveness – especially in the environmental protection – as well as the concepts of international and cross-generational justice. In summary, the authors discussed inequality of income and the structure of welfare benefits as well as the scale of poverty and social exclusion in Poland.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"24 1","pages":"191 - 200"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77922582","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 This paper aims to assess the impact of the effective and nominal household tax burden on household deposits in Ukrainian banks. We used the effective tax burden, which includes personal income taxes and value-added tax (VAT) paid. We considered changes in Ukrainian tax law from 2003 to 2016, which included a change from progressive income taxation to proportional income taxation, a decrease in tax rates in 2003, and an increase in tax rates in 2014–2016. The data sample consists of publicly available data on Ukrainian households’ income, savings, and taxes paid in 1996–2019. The analysis was performed using panel regression and the difference-in-difference (DID) method. The tax burden impact on bank deposits is significant and is caused partly by the shadow economy. The results of the study are relevant for Ukraine and countries with similar economies. The methodological approaches developed in the paper can be used for similar studies in other developing countries.
{"title":"Does Household Tax Burden Have an Impact on Individuals’ Savings in Banks? The Case of Ukraine","authors":"G. Sudak, Savchenko Yuliia","doi":"10.2478/ceej-2021-0025","DOIUrl":"https://doi.org/10.2478/ceej-2021-0025","url":null,"abstract":"Abstract This paper aims to assess the impact of the effective and nominal household tax burden on household deposits in Ukrainian banks. We used the effective tax burden, which includes personal income taxes and value-added tax (VAT) paid. We considered changes in Ukrainian tax law from 2003 to 2016, which included a change from progressive income taxation to proportional income taxation, a decrease in tax rates in 2003, and an increase in tax rates in 2014–2016. The data sample consists of publicly available data on Ukrainian households’ income, savings, and taxes paid in 1996–2019. The analysis was performed using panel regression and the difference-in-difference (DID) method. The tax burden impact on bank deposits is significant and is caused partly by the shadow economy. The results of the study are relevant for Ukraine and countries with similar economies. The methodological approaches developed in the paper can be used for similar studies in other developing countries.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"1 1","pages":"378 - 389"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76844005","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 We show a negative relation between the inflation rate and the unemployment rate, that is, the Phillips curve using a three-period overlapping generations (OLG) model with childhood period and pay-as-you-go pension for older generation under monopolistic competition with negative real balance effect. In a three-period OLG model, there may exist a negative real balance effect because consumers have debts and savings. A fall (or rise) in the nominal wage rate induces a fall (or rise) in the price, then by negative real balance effect, the unemployment rate rises (or falls), and we get a negative relation between the inflation rate and the unemployment rate. This conclusion is based on the premise of utility maximisation of consumers and profit maximisation of firms. Therefore, we present a microeconomic foundation for the Phillips curve. We also examine the effects of fiscal policy financed by seigniorage, which is represented by left-ward shift of the Phillips curve.
{"title":"Microeconomic Foundation for Phillips Curve with a Three-Period Overlapping Generations Model and Negative Real Balance Effect","authors":"Yasuhito Tanaka","doi":"10.2478/ceej-2021-0010","DOIUrl":"https://doi.org/10.2478/ceej-2021-0010","url":null,"abstract":"Abstract We show a negative relation between the inflation rate and the unemployment rate, that is, the Phillips curve using a three-period overlapping generations (OLG) model with childhood period and pay-as-you-go pension for older generation under monopolistic competition with negative real balance effect. In a three-period OLG model, there may exist a negative real balance effect because consumers have debts and savings. A fall (or rise) in the nominal wage rate induces a fall (or rise) in the price, then by negative real balance effect, the unemployment rate rises (or falls), and we get a negative relation between the inflation rate and the unemployment rate. This conclusion is based on the premise of utility maximisation of consumers and profit maximisation of firms. Therefore, we present a microeconomic foundation for the Phillips curve. We also examine the effects of fiscal policy financed by seigniorage, which is represented by left-ward shift of the Phillips curve.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"79 1","pages":"163 - 175"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75154651","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 This paper refers to the historical experience of Poland in order to demonstrate the importance of former institutions on present regional differences in the norms regarding education. Previous studies revealed significant discrepancies between the scholastic achievements of students in different regions in Poland, ones that correspond to the partition of the country by its three neighbours (Austria, Prussia, and Russia), lasting from the late 18th century to the close of WWI. In particular, students in the former Austrian partition perform better than their peers in the two other regions. In this study, a self-designed survey of parents is used to operationalize different kinds of norms regarding education. As it turns out, parents from the region formerly under Austrian rule show more trust in educational institutions, more belief in the formative role of schooling, and less conviction in the material returns from education. The results show that contemporary discussions on the geography of educational achievements need to take into account the broad cultural context of education.
{"title":"The Persistent Legacy of the Fallen Empires. Assessing the Effects of Poland's Historical Partitions on Contemporary Social Norms Regarding Education","authors":"M. Herbst","doi":"10.2478/ceej-2021-0023","DOIUrl":"https://doi.org/10.2478/ceej-2021-0023","url":null,"abstract":"Abstract This paper refers to the historical experience of Poland in order to demonstrate the importance of former institutions on present regional differences in the norms regarding education. Previous studies revealed significant discrepancies between the scholastic achievements of students in different regions in Poland, ones that correspond to the partition of the country by its three neighbours (Austria, Prussia, and Russia), lasting from the late 18th century to the close of WWI. In particular, students in the former Austrian partition perform better than their peers in the two other regions. In this study, a self-designed survey of parents is used to operationalize different kinds of norms regarding education. As it turns out, parents from the region formerly under Austrian rule show more trust in educational institutions, more belief in the formative role of schooling, and less conviction in the material returns from education. The results show that contemporary discussions on the geography of educational achievements need to take into account the broad cultural context of education.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"10 1","pages":"330 - 351"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81831096","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 International Accounting Standard Board (IASB) aimed to increase the decision usefulness of firms’ risk disclosures with the 2007 introduction of the International Financial Reporting Standards (IFRS) 7. Specifically, listed firms were mandated to provide information to the market on both their (1) exposure and (2) risk management, which are associated with holding their financial instruments. This study investigates whether IFRS 7 financial instruments and their disclosures are associated with firm valuation. Using data on premiumlisted United Kingdom (UK) companies, for the period 2007–2019, I find evidence that firm value (proxied by Tobin's Q) is negatively associated with the quantity of IFRS 7 interest and credit risk disclosures. I further find that the market value decreases with the presence of quantitative information tabulated in the disclosures. The findings of this study have important implications for the IASB's standard-setting process.
{"title":"Risk Disclosure and Firm Value: Evidence from the United Kingdom","authors":"Tache Marta","doi":"10.2478/ceej-2021-0002","DOIUrl":"https://doi.org/10.2478/ceej-2021-0002","url":null,"abstract":"Abstract The International Accounting Standard Board (IASB) aimed to increase the decision usefulness of firms’ risk disclosures with the 2007 introduction of the International Financial Reporting Standards (IFRS) 7. Specifically, listed firms were mandated to provide information to the market on both their (1) exposure and (2) risk management, which are associated with holding their financial instruments. This study investigates whether IFRS 7 financial instruments and their disclosures are associated with firm valuation. Using data on premiumlisted United Kingdom (UK) companies, for the period 2007–2019, I find evidence that firm value (proxied by Tobin's Q) is negatively associated with the quantity of IFRS 7 interest and credit risk disclosures. I further find that the market value decreases with the presence of quantitative information tabulated in the disclosures. The findings of this study have important implications for the IASB's standard-setting process.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"31 1","pages":"15 - 24"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77901242","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 option of using the contingent valuation method (CVM) to assess residents’ willingness to pay (WTP) for upgrading the quality of water resources in their communes is discussed in the article. Surveys were conducted using the direct interview method. The analysis included the application of CVM to examine the potential for financing projects that are focused on reducing the eutrophication process of the Baltic Sea, financing the construction of municipal sewage treatment plants in selected communes in Greece and Poland and financing the upgrade of sewage disposal and treatment standards in Śniadowo in north-eastern Poland. For authorities of a given area, the CVM is an instrument supporting the decision-making process regarding investments in water resources’ protection.
{"title":"Application of the Contingent Valuation Method in Water Resources Protection","authors":"R. Miłaszewski","doi":"10.2478/ceej-2021-0015","DOIUrl":"https://doi.org/10.2478/ceej-2021-0015","url":null,"abstract":"Abstract The option of using the contingent valuation method (CVM) to assess residents’ willingness to pay (WTP) for upgrading the quality of water resources in their communes is discussed in the article. Surveys were conducted using the direct interview method. The analysis included the application of CVM to examine the potential for financing projects that are focused on reducing the eutrophication process of the Baltic Sea, financing the construction of municipal sewage treatment plants in selected communes in Greece and Poland and financing the upgrade of sewage disposal and treatment standards in Śniadowo in north-eastern Poland. For authorities of a given area, the CVM is an instrument supporting the decision-making process regarding investments in water resources’ protection.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"33 1","pages":"212 - 218"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87975131","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 World experience shows that public participation in the budget process and openness in the public sector are the necessary conditions for a proper economic strategy of the State. Financial openness contributes to the efficient collection and distribution of public resources. It expands the responsibility of governments, strengthens the trust of citizens and prevents opportunities for corruption. Researchers around the world (Alt, Lassen, Skilling, Bernick, Gandía, Yannacopoulos, Darbyshire, Slukhai and others) and international organisations such as the International Monetary Fund, OECD, the World Bank, the International Budget Partnership (IBP), the Global Initiative for Financial Transparency and the Open Government Partnership have shown growing interest in financial openness issues in recent years. This paper attempts to develop and test a methodology for the operational analysis of online information openness and transparency of the budget process at the local level. The developed methodology used two criteria: (1) the level of transparency of the local budget and (2) an assessment of authority's efforts in ensuring transparency of local budgets. It is based on expert assessments of the informational significance of particular elements of websites of local authorities in issues of local finance and budget. We interpret the resulting assessment of the information content of the site with the local budget and finances data as the online openness and transparency of local budgets Online Local Budget Index of Transparency (OLBIT).
{"title":"Online Openness and Transparency of Local Budgets in Belarus","authors":"Юрий Васильевич Криворотько, Dmitriy V. Sokol","doi":"10.2478/ceej-2021-0009","DOIUrl":"https://doi.org/10.2478/ceej-2021-0009","url":null,"abstract":"Abstract World experience shows that public participation in the budget process and openness in the public sector are the necessary conditions for a proper economic strategy of the State. Financial openness contributes to the efficient collection and distribution of public resources. It expands the responsibility of governments, strengthens the trust of citizens and prevents opportunities for corruption. Researchers around the world (Alt, Lassen, Skilling, Bernick, Gandía, Yannacopoulos, Darbyshire, Slukhai and others) and international organisations such as the International Monetary Fund, OECD, the World Bank, the International Budget Partnership (IBP), the Global Initiative for Financial Transparency and the Open Government Partnership have shown growing interest in financial openness issues in recent years. This paper attempts to develop and test a methodology for the operational analysis of online information openness and transparency of the budget process at the local level. The developed methodology used two criteria: (1) the level of transparency of the local budget and (2) an assessment of authority's efforts in ensuring transparency of local budgets. It is based on expert assessments of the informational significance of particular elements of websites of local authorities in issues of local finance and budget. We interpret the resulting assessment of the information content of the site with the local budget and finances data as the online openness and transparency of local budgets Online Local Budget Index of Transparency (OLBIT).","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"8 1","pages":"144 - 162"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84810745","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 Competence frameworks are increasingly used in several practice fields and have been an object of research. A typical development trend has been encapsulation into a particular field, not considering the developments in related fields. Similarly, in research, learning from neighbouring disciplines has been rare. Yet, during the past decade, there have been several attempts at linking essentially related disciplines in practice, such as entrepreneurship and project management. This is a reaction to the trends in the labour market – a growing demand for people with diverse competences. In this context, converging different fields via competences deserves more attention. This paper compares the competences required for project managers and entrepreneurs; in addition, it explores the possibilities for mutual enrichment, contributing to further linking of project management and entrepreneurship conceptually. The cross-examination of competences for entrepreneurs (The Entrepreneurship Competence Framework or EntreComp) and for project managers (International Project Management Association's Individual Competence Baseline [IPMA-ICB]) reveals some quite significant, but also weak, correlations. The linguistic approach used has natural limitations, as different terms have been used to convey the same concepts. Thus, a relational linguistic analysis and conceptual analysis have also been applied. The main implication is the recommendation to integrate core project management competences into competence models for entrepreneurs. A natural progression of this work is to build a common competence model for entrepreneurs and project managers.
{"title":"Project management and entrepreneurship competences","authors":"Taavi Tamberg, Arvi Kuura, Reet Soosaar","doi":"10.2478/ceej-2021-0003","DOIUrl":"https://doi.org/10.2478/ceej-2021-0003","url":null,"abstract":"Abstract Competence frameworks are increasingly used in several practice fields and have been an object of research. A typical development trend has been encapsulation into a particular field, not considering the developments in related fields. Similarly, in research, learning from neighbouring disciplines has been rare. Yet, during the past decade, there have been several attempts at linking essentially related disciplines in practice, such as entrepreneurship and project management. This is a reaction to the trends in the labour market – a growing demand for people with diverse competences. In this context, converging different fields via competences deserves more attention. This paper compares the competences required for project managers and entrepreneurs; in addition, it explores the possibilities for mutual enrichment, contributing to further linking of project management and entrepreneurship conceptually. The cross-examination of competences for entrepreneurs (The Entrepreneurship Competence Framework or EntreComp) and for project managers (International Project Management Association's Individual Competence Baseline [IPMA-ICB]) reveals some quite significant, but also weak, correlations. The linguistic approach used has natural limitations, as different terms have been used to convey the same concepts. Thus, a relational linguistic analysis and conceptual analysis have also been applied. The main implication is the recommendation to integrate core project management competences into competence models for entrepreneurs. A natural progression of this work is to build a common competence model for entrepreneurs and project managers.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"34 1","pages":"25 - 43"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89636818","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 paper analyses the economic implications of the accession of New Member States (NMS) to the European Union (EU) in 2004 and 2007. The estimation effects of integration with the EU were carried out as a comparative case study using the synthetic control method (SCM) proposed by Abadie and Gardeazabal. Compared to previous studies analysing the effects of accession to the EU (Campos, Coricelli and Moretti), we check for the importance of the quality of economic institutions for the matching process of the analysed economies with their comparators. The results of the econometric analysis show a positive impact on the country performance 6 years and 12 years after accession to the EU. The gains from accession are large but not universal. For 5 of the 10 analysed countries the difference in levels of per capita gross domestic product (GDP) against the counterfactual is at least 30%.
{"title":"Economic impact of the EU Eastern enlargement on New Member States revisited: The role of economic institutions","authors":"J. Hagemejer, J. Michałek, Pavel Svatko","doi":"10.2478/ceej-2021-0008","DOIUrl":"https://doi.org/10.2478/ceej-2021-0008","url":null,"abstract":"Abstract The paper analyses the economic implications of the accession of New Member States (NMS) to the European Union (EU) in 2004 and 2007. The estimation effects of integration with the EU were carried out as a comparative case study using the synthetic control method (SCM) proposed by Abadie and Gardeazabal. Compared to previous studies analysing the effects of accession to the EU (Campos, Coricelli and Moretti), we check for the importance of the quality of economic institutions for the matching process of the analysed economies with their comparators. The results of the econometric analysis show a positive impact on the country performance 6 years and 12 years after accession to the EU. The gains from accession are large but not universal. For 5 of the 10 analysed countries the difference in levels of per capita gross domestic product (GDP) against the counterfactual is at least 30%.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"84 1","pages":"126 - 143"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86101110","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 article aims to verify whether, in the 1980s, there was a significant decrease in the involvement of the regional communist party structures in charge of economic affairs in Poland. The analysis is made on the case of the Warsaw Committee (KW) of the Polish United Workers’ Party (PUWP). Archival documents gathered in the State Archive in Warsaw were used to perform the analysis. The protocols of the meetings of the Executive and Secretariat 1970–1989 were collected, described and analysed. Moreover, the analysis was supplemented by the Statistical Yearbooks of Warsaw (GUS, 1957–1974), the Statistical Yearbooks of the Capital City of Warsaw (GUS, 1976–1981) and the Journal of Laws of the People's Republic of Poland 1970–1989. A statistical analysis of economic activity of the KW of the PUWP in the context of macroeconomic variables and economic activity of central authorities was performed. The correlation coefficient between macroeconomic performance and Party activity indicates the convergence of both trends in the 1970s and the lack of correlation in the 1980s. The decline in engagement after 1978 was unprecedented. In this period, there was a discrepancy between the activities of the central government and the Party apparatus, which remained in place until the end of the system. Institutional mechanisms in the Principal–Agent relation weakened significantly in 1980s.
{"title":"Activity of the Regional Polish United Workers’ Party Apparatus in 1970–1989","authors":"Dariusz Standerski","doi":"10.2478/ceej-2021-0006","DOIUrl":"https://doi.org/10.2478/ceej-2021-0006","url":null,"abstract":"Abstract The article aims to verify whether, in the 1980s, there was a significant decrease in the involvement of the regional communist party structures in charge of economic affairs in Poland. The analysis is made on the case of the Warsaw Committee (KW) of the Polish United Workers’ Party (PUWP). Archival documents gathered in the State Archive in Warsaw were used to perform the analysis. The protocols of the meetings of the Executive and Secretariat 1970–1989 were collected, described and analysed. Moreover, the analysis was supplemented by the Statistical Yearbooks of Warsaw (GUS, 1957–1974), the Statistical Yearbooks of the Capital City of Warsaw (GUS, 1976–1981) and the Journal of Laws of the People's Republic of Poland 1970–1989. A statistical analysis of economic activity of the KW of the PUWP in the context of macroeconomic variables and economic activity of central authorities was performed. The correlation coefficient between macroeconomic performance and Party activity indicates the convergence of both trends in the 1970s and the lack of correlation in the 1980s. The decline in engagement after 1978 was unprecedented. In this period, there was a discrepancy between the activities of the central government and the Party apparatus, which remained in place until the end of the system. Institutional mechanisms in the Principal–Agent relation weakened significantly in 1980s.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":"54 1","pages":"79 - 94"},"PeriodicalIF":0.2,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80134787","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：