Issues

Journal & Issues

AHEAD OF PRINT

Volume 66 (2021): Issue 4 (December 2021)

Volume 66 (2021): Issue 3 (December 2021)

Volume 66 (2021): Issue 2 (December 2021)

Volume 66 (2021): Issue 1 (December 2021)

Volume 65 (2020): Issue 1 (December 2020)

Volume 64 (2020): Issue 1 (December 2020)

Volume 63 (2020): Issue 1 (September 2020)

Volume 62 (2020): Issue 1 (June 2020)

Volume 61 (2020): Issue 1 (March 2020)

Volume 60 (2019): Issue 1 (December 2019)

Volume 59 (2019): Issue 1 (September 2019)

Volume 58 (2019): Issue 1 (June 2019)

Volume 57 (2019): Issue 1 (March 2019)

Volume 56 (2018): Issue 1 (December 2018)

Volume 55 (2018): Issue 1 (September 2018)

Volume 54 (2018): Issue 1 (June 2018)

Volume 53 (2018): Issue 1 (March 2018)

Volume 52 (2017): Issue 1 (December 2017)

Volume 51 (2017): Issue 1 (September 2017)

Volume 50 (2017): Issue 1 (June 2017)

Volume 49 (2017): Issue 1 (March 2017)

Volume 48 (2016): Issue 1 (December 2016)

Volume 47 (2016): Issue 1 (December 2016)

Volume 46 (2016): Issue 1 (September 2016)

Volume 45 (2016): Issue 1 (June 2016)

Volume 44 (2016): Issue 1 (March 2016)

Volume 43 (2015): Issue 1 (December 2015)

Volume 42 (2015): Issue 1 (September 2015)

Volume 41 (2015): Issue 1 (June 2015)

Volume 40 (2015): Issue 1 (March 2015)

Volume 39 (2014): Issue 1 (December 2014)

Volume 38 (2014): Issue 1 (September 2014)

Volume 37 (2014): Issue 1 (June 2014)
Mechanisms and Methods of Decision Making / Ed. by Ewa Roszkowska

Volume 36 (2014): Issue 1 (March 2014)

Volume 35 (2013): Issue 1 (December 2013)

Volume 34 (2013): Issue 1 (October 2013)

Volume 33 (2013): Issue 1 (August 2013)

Volume 32 (2013): Issue 1 (May 2013)

Journal Details
Format
Journal
eISSN
2199-6059
First Published
08 Aug 2013
Publication timeframe
4 times per year
Languages
English

Search

Volume 66 (2021): Issue 4 (December 2021)

Journal Details
Format
Journal
eISSN
2199-6059
First Published
08 Aug 2013
Publication timeframe
4 times per year
Languages
English

Search

12 Articles
Open Access

The Great Depression in the Eyes of the Silesian Christian Democrats

Published Online: 30 Dec 2021
Page range: 339 - 351

Abstract

Abstract

Goal – The great depression forced changes in the economic program of the Christian Democracy (Silesian Christian Democrats). Indicating the exceptional role of the Upper Silesian heavy industry in the economic potential of the Second Polish Republic, the program emerged from the criticism of the Sanation (Sanacja in Polish) program of surviving the crisis.

Research method – The study analyzes archival sources and literature on the subject, as well as statistical data.

Results – In the years of the great depression, official state authorities, as well as individual political groups formulated their own programs for overcoming the economic difficulties that were faced. Christian Democracy was one of these groups, but its program to combat the crisis was limited only to ad hoc measures aimed at mitigating the negative effects of the crisis. The activists of the Silesian Christian Democrats did not properly interpret the sources of economic difficulties, as they did not understand the core of the problem.

Keywords

  • economic crisis
  • economic program
  • Christian Democracy
Open Access

Educated or Indoctrinated? Remarks on the Influence of Economic Teaching on Students’ Attitudes Based on Evidence from the Public Good Game Experiment

Published Online: 30 Dec 2021
Page range: 353 - 371

Abstract

Abstract

Economic education is frequently blamed for negatively affecting students’ values and attitudes. Economists are reported as less cooperative, more self-interested, and more prone to free-riding. However, empirical evidence is inconclusive – certain studies support while others gainsay the so-called indoctrination hypothesis. We contribute to the discussion by running a Public Good Game (PGG) quasi-experiment. Working with economics and non-economics graduates (N = 206), we compared contributions to the common fund by representatives of both subsamples. Students’ contributions were then juxtaposed against the scores they achieved from the exam items, testing their command of game theory to detect the supposed influence of economic teaching. We hypothesised that holders of a bachelor’s degree in economics and management would contribute less to finance the common good. We also expected that those whose exam scores were higher would donate less to the common fund in the PGG. Contrary to expectations and prior empirical evidence, students holding a bachelor’s degree in economics and management made higher contributions to the common fund than their non-economics counterparts. Also, we found no correlation between the level of donations and exam scores. We conclude that there are no grounds for considering economic teaching as promoting uncooperativeness and exerting the supposed harmful influence on students’ character. We claim that economic departments provide education rather than indoctrination.

Keywords

  • Public Good Game
  • economic education
  • indoctrination hypothesis
  • quasi-experiment
Open Access

The Impact of the Economic Crisis on Social Policy in Interwar Poland

Published Online: 30 Dec 2021
Page range: 373 - 387

Abstract

Abstract

The aim of this paper is to determine how the economic crisis, and the ad hoc attempts made by the authorities to counteract it, affected the Polish society and, above all, to prepare a multidimensional analysis of how the crisis impacted systemic changes in the Polish social policy. The author will examine both positive changes that followed the relevant global trends and also negative changes that resulted from the developmental lag, the country’s economic situation and especially the generally low involvement of the state via public funding in activities that were part of the state’s social policy.

Assessment of Polish social policy during the crisis must be ambiguous. On the one hand, systemic changes in social policy introduced as a result of the economic collapse can be clearly distinguished, on the other hand, however, the severity of the crisis visibly affected many activities of state and local governments in the social sphere. These activities posed unsuccessful attempts to rescue the situation in the labour market. Additionally, an effective response to deepening poverty was missing, amendments adopted to labour legislation were disadvantageous to employees, and finally fundamental sacrifices in terms of social policy were made as the lawmakers passed the Unification Act during the crisis. Polish social policy was unable, for a number of reasons, to essentially redefine its approach to addressing the numerous social issues it had to face.

Keywords

  • interwar Poland
  • Polish social policy
  • the Great Depression
  • employment policy
  • social security
Open Access

Values as Timeless Foundations of Today’s Economy – A Remedy for a Crisis in Economic Sciences

Published Online: 30 Dec 2021
Page range: 389 - 407

Abstract

Abstract

The presented paper refers to values as the timeless foundations of modern economics, and also to ethical limitations in the sphere of economic research, especially in the mainstream. The character of the paper is a review. The aim of the research is an attempt to show the fundamental importance of values, often rooted in history, for the development of modern economics and to present a remedy for the current analytical problems of economic sciences – considering the importance of axiology in economic research. The paper is divided into three main parts: introduction – theoretical considerations on the basis of the humanistic perspective of economics; first chapter – the place of values in philosophical and economic considerations, and second chapter – axiology as a complement to the gap in economic research (response to the crisis in the field of economic research). The authors proved that in the face of great crises, including the last one, which is the coronavirus crisis, there is an urgent need to extend economic analysis with values, which would make the science of economics more mature, perceiving an individual as an entity guided by a whole spectrum of principles. It is therefore necessary to go beyond the canon of rigid thinking, because otherwise we are threatened not only with the collapse of the economy, but the entire civilisation of the West. In this regard, let us provide a wider field for ethical analysis!

Keywords

  • economy
  • values
  • crisis
  • axiology
Open Access

Situation of the R&D Sector in Poland in the Face of the Current Crisis

Published Online: 30 Dec 2021
Page range: 409 - 424

Abstract

Abstract

How has the current crisis caused by the COVID-19 pandemic affected R&D and innovation in Poland? Numerous international studies conducted after the Great Depression in 2008–2010 show a strong procyclicality of investments in R&D and innovation in companies: investments rise during the economic upturn and fall sharply during the crisis. This procyclicality is driven within firms both by internal financial resources and by differences in market incentives to innovate. It seems likely that the COVID-19 crisis caused financial weakness for many actors, having the most significant impact on the willingness or ability of smaller firms to support R&D and innovation. However, where firms are able to sustain these investments, evidence from the crisis a decade ago suggests that they will be more likely to survive, grow more strongly, and have higher profitability. Based on the analysis of the literature and macroeconomic data, this paper presents several recommendations that, if implemented by R&D actors, could help increase the efficiency of operations, even in times of crisis.

Keywords

  • crisis
  • COVID-19
  • R&D
  • innovation
Open Access

Crisis and Innovations: Are they Constructive or Destructive?

Published Online: 30 Dec 2021
Page range: 425 - 449

Abstract

Abstract

An interdisciplinary approach was used to analyse multicomplex issues of the Covid-19 crisis, demonstrated also by the Economics of innovation. The Economics of innovation is useful when analysing a unique feedback of megatrends and the emergence of liminal crisis innovations. The purpose of this paper is, in spite of many statements to the contrary, to prove that innovative activity may serve as the key to unlocking a post-crisis economic development. Analyses presented in the paper are based on the Polish and foreign literature on the subject, reports on research conducted in many research centres and the author’s own observation at the Social Innovation Council. Three research themes are signalled: 1) the reality of the crisis in the aspect of Covid-19 pandemic and other crises in the literature studies and in practice; 2) innovation as the driving force for recovering from the Covid-19 crisis; 3) Coronavirus support: the activity of the state and social expectations. Conclusions and recommendations contained in this paper are, to a large extent, based on hermeneutics; they also stem from statistical data analyses and own research.

Keywords

  • crisis
  • Covid-19
  • liminal innovations
  • Coronavirus support
Open Access

The Logic of Gig Economy (Origins and Growth Prospects)

Published Online: 30 Dec 2021
Page range: 451 - 462

Abstract

Abstract

The 2007+ crisis led to an increase in occasional and task work, which unleashed the potential of new technological and organizational solutions. The advancements in digital technological platforms stimulated the growth of the segment referred to as gig economy. The article aims to apply a systematic approach to the driving forces behind the emergence of gig economy and its success to date and to assess its development prospects. It argues to confirm the thesis that gig economy has its own inherent logic, while it remains part of the multi-stage process of the evolution of employee-employer relations, from the industrial stage to the digital era to platform-mediated work. Based on the analysis of the current world literature, the article posits that gig economy, as the next stage of development, has significantly reduced the quality of work, but it may also not meet the individual needs of the contemporary consumer. This increases the likelihood of the need for its change. The article also envisages the direction of this change towards post-platform economy based on distributed market spaces and provides the characteristics of its determinants, including social capital and a sense of individual entrepreneurship. The primary methods used in the study involved analysis and critique of the current world literature as well as the method of analysis and logical construction.

Keywords

  • gig economy
  • crowdwork
  • platforms
  • post-platform economy
Open Access

Bilateral Trade By Products Between the V4 Countries and China in Years 2009–2019

Published Online: 30 Dec 2021
Page range: 463 - 482

Abstract

Abstract

Subject and purpose: Using annual data for the periods 2009–2019, this paper examines trade flows between China and the Visegrad Group countries. The aim of this article is to assess real changes taking place in international trade in the Visegrad Group countries (V4) over the last eleven years. The starting point for the analysis was 2009 – the time after the 2008 economic crisis, and it was compared especially to 2018 – a year marked by a significant improvement in the economy. The purpose is to discuss concerns related to the differences in bilateral trade between China and Poland, Czech Republic, Hungary, and Slovak Republic. The main aim of this research is to distinguish the characteristics of bilateral trade by products between V4 and China in years 2009–2019. The purpose of this article is also to systematize and discuss points of view, rationalizing further empirical research. Two research hypotheses, resulting from the research purpose, were formulated: H1: in the V4 countries import exceeds export, and this trend seems to be growing, H2: Chinese goods imported to the V4 are much more sophisticated than those exported.

Design/Methodology/Approach: To assess the initial and current situation on international trade between the V4 and China, the author uses variables obtained from WTO and OEC resources, diagnosing the situation in Poland, Czech Republic, Hungary, and Slovak Republic. The collected empirical data were processed using theoretical methods such as analysis, synthesis, and comparison to formulate conclusions using deductive and inductive inference methods.

Practical Implications: The results can be used in scientific and expert work on diagnostic and forecast trends in bilateral trade by products between the V4 and China.

Originality/Value: It concerns the indication of the importance of the V4 trade with China compared to the share of the V4 countries in world trade. It was also possible to identify the top export and import products of the V4. The findings also confirm the significant change in China’s trading structure.

Keywords

  • foreign trade
  • bilateral trade
  • Visegrad Group
  • V4
  • Poland
  • Czech Republic
  • Slovak Republic
  • Hungary
  • China
  • export of products
  • import of products
Open Access

Implications of the COVID-19 Crisis on the Creation of Innovations – Assessment Attempt

Published Online: 30 Dec 2021
Page range: 483 - 495

Abstract

Abstract

The aim of the article is an attempt to analyze the impact of the pandemic crisis (caused by the COVID-19 coronavirus) on innovations created by economic entities. The ongoing economic downturn has reasons different from previous economic peturbations, and has much more extensive effects across the entire global economy. Hence the need to analyze not individual economies as trends (megatrends) in the emergence of innovations initiated or significantly accelerated by the pandemic crisis. The analysis was made on the basis of reports from institutions such as the World Economic Forum, OECD or ESPAS, as well as preliminary studies conducted in some countries (eg the USA). It should be emphasized that due to the ongoing perturbations and the pandemic not ending, precise research results will be possible to obtain in later years.

Keywords

  • innovation
  • innovative activity
  • financial crisis
  • COVID-19 crisis
  • innovation trends
Open Access

What Did Central Banks Learn from Financial Crises?

Published Online: 30 Dec 2021
Page range: 497 - 512

Abstract

Abstract

During the global financial crisis (GFC) of 2007–2009 and the currentCovid-19 debacle, central banks acted quickly, boldly, and effectively. The paper argues that they did so thanks to the lessons learned from the past financial crises, which provided them with opportunities to reconsider their previous beliefs. A case in point is the banking crisis in the United States during the Great Depression of the 1930s that taught central banks to act rapidly and decisively in order to prevent an initial liquidity crisis from escalating into a solvency crisis leading to bankruptcies of banks with potentially disastrous consequences for the entire economy. The paper revisits the consequences of the currency crises of the 1990s, which transformed exchange rate regimes across the world: the EMS one of 1992–1993 that accelerated the launch of the euro, and the Asian one of 1997–1998 resulted in the proliferation of floating exchange rates in emerging economies.

Keywords

  • banking crisis
  • financial crises
  • central banks
Open Access

Gender and Economic Downturn. The Focus on Women and the Pandemic Crisis

Published Online: 30 Dec 2021
Page range: 513 - 530

Abstract

Abstract

The goal of the paper is to consider whether women are vulnerable or protected on the labour market during the pandemic crisis, seeking answers in the wider context of previous downturns and economic theory. In times of crisis, female employment is likely to be more susceptible to cuts, for several reasons explained i.a. by the flexible buffers hypothesis or sex segregation hypothesis. Since the pandemic crisis is still unfolding, many of its effects are still unknown but it can be expected that the COVID-19 crisis may have an unequal impact on women and men. Additional challenges in this crisis can be found in the home. Gender effects vary across EU countries, however, it is essential to develop at both the European and national level effective policy responses leading to gender balance in various dimensions (including paid and unpaid work).

Keywords

  • crisis
  • COVID-19
  • gender balance
  • labour market
  • unemployment rate
Open Access

Alternative Methods of Financing Humanitarian Crises. Crowdfunding

Published Online: 30 Dec 2021
Page range: 531 - 546

Abstract

Abstract

There is a continuous increase in the number of humanitarian crises around the world. The number of armed conflicts and attacks on civilians is increasing at an alarming rate. Natural disasters compounded by climate change and population growth are also occurring more frequently and with increasing intensity. Given that over 60 million people have been forcibly displaced worldwide, prolonged forced displacement has become the biggest humanitarian, development, political and economic challenge. The needs are increasingly outweighing resources, and humanitarian aid and civil protection are becoming increasingly complex.

Funds for humanitarian aid come from the budgets of individual countries. In situations of severe crisis, other state authorities may also decide to grant humanitarian aid from the funds at their disposal. In addition, there are many options for providing humanitarian aid. The purpose of the article is to present methods as crowdfunding for financing humanitarian crises that do not belong to state funds. Most often they come from community collections or projects where more people are involved. It must be admitted, however, that this assistance still seems disproportionately small in relation to the needs.

Keywords

  • humanitarian crisies
  • humanitarian aid
  • humanitarian needs
  • financing
12 Articles
Open Access

The Great Depression in the Eyes of the Silesian Christian Democrats

Published Online: 30 Dec 2021
Page range: 339 - 351

Abstract

Abstract

Goal – The great depression forced changes in the economic program of the Christian Democracy (Silesian Christian Democrats). Indicating the exceptional role of the Upper Silesian heavy industry in the economic potential of the Second Polish Republic, the program emerged from the criticism of the Sanation (Sanacja in Polish) program of surviving the crisis.

Research method – The study analyzes archival sources and literature on the subject, as well as statistical data.

Results – In the years of the great depression, official state authorities, as well as individual political groups formulated their own programs for overcoming the economic difficulties that were faced. Christian Democracy was one of these groups, but its program to combat the crisis was limited only to ad hoc measures aimed at mitigating the negative effects of the crisis. The activists of the Silesian Christian Democrats did not properly interpret the sources of economic difficulties, as they did not understand the core of the problem.

Keywords

  • economic crisis
  • economic program
  • Christian Democracy
Open Access

Educated or Indoctrinated? Remarks on the Influence of Economic Teaching on Students’ Attitudes Based on Evidence from the Public Good Game Experiment

Published Online: 30 Dec 2021
Page range: 353 - 371

Abstract

Abstract

Economic education is frequently blamed for negatively affecting students’ values and attitudes. Economists are reported as less cooperative, more self-interested, and more prone to free-riding. However, empirical evidence is inconclusive – certain studies support while others gainsay the so-called indoctrination hypothesis. We contribute to the discussion by running a Public Good Game (PGG) quasi-experiment. Working with economics and non-economics graduates (N = 206), we compared contributions to the common fund by representatives of both subsamples. Students’ contributions were then juxtaposed against the scores they achieved from the exam items, testing their command of game theory to detect the supposed influence of economic teaching. We hypothesised that holders of a bachelor’s degree in economics and management would contribute less to finance the common good. We also expected that those whose exam scores were higher would donate less to the common fund in the PGG. Contrary to expectations and prior empirical evidence, students holding a bachelor’s degree in economics and management made higher contributions to the common fund than their non-economics counterparts. Also, we found no correlation between the level of donations and exam scores. We conclude that there are no grounds for considering economic teaching as promoting uncooperativeness and exerting the supposed harmful influence on students’ character. We claim that economic departments provide education rather than indoctrination.

Keywords

  • Public Good Game
  • economic education
  • indoctrination hypothesis
  • quasi-experiment
Open Access

The Impact of the Economic Crisis on Social Policy in Interwar Poland

Published Online: 30 Dec 2021
Page range: 373 - 387

Abstract

Abstract

The aim of this paper is to determine how the economic crisis, and the ad hoc attempts made by the authorities to counteract it, affected the Polish society and, above all, to prepare a multidimensional analysis of how the crisis impacted systemic changes in the Polish social policy. The author will examine both positive changes that followed the relevant global trends and also negative changes that resulted from the developmental lag, the country’s economic situation and especially the generally low involvement of the state via public funding in activities that were part of the state’s social policy.

Assessment of Polish social policy during the crisis must be ambiguous. On the one hand, systemic changes in social policy introduced as a result of the economic collapse can be clearly distinguished, on the other hand, however, the severity of the crisis visibly affected many activities of state and local governments in the social sphere. These activities posed unsuccessful attempts to rescue the situation in the labour market. Additionally, an effective response to deepening poverty was missing, amendments adopted to labour legislation were disadvantageous to employees, and finally fundamental sacrifices in terms of social policy were made as the lawmakers passed the Unification Act during the crisis. Polish social policy was unable, for a number of reasons, to essentially redefine its approach to addressing the numerous social issues it had to face.

Keywords

  • interwar Poland
  • Polish social policy
  • the Great Depression
  • employment policy
  • social security
Open Access

Values as Timeless Foundations of Today’s Economy – A Remedy for a Crisis in Economic Sciences

Published Online: 30 Dec 2021
Page range: 389 - 407

Abstract

Abstract

The presented paper refers to values as the timeless foundations of modern economics, and also to ethical limitations in the sphere of economic research, especially in the mainstream. The character of the paper is a review. The aim of the research is an attempt to show the fundamental importance of values, often rooted in history, for the development of modern economics and to present a remedy for the current analytical problems of economic sciences – considering the importance of axiology in economic research. The paper is divided into three main parts: introduction – theoretical considerations on the basis of the humanistic perspective of economics; first chapter – the place of values in philosophical and economic considerations, and second chapter – axiology as a complement to the gap in economic research (response to the crisis in the field of economic research). The authors proved that in the face of great crises, including the last one, which is the coronavirus crisis, there is an urgent need to extend economic analysis with values, which would make the science of economics more mature, perceiving an individual as an entity guided by a whole spectrum of principles. It is therefore necessary to go beyond the canon of rigid thinking, because otherwise we are threatened not only with the collapse of the economy, but the entire civilisation of the West. In this regard, let us provide a wider field for ethical analysis!

Keywords

  • economy
  • values
  • crisis
  • axiology
Open Access

Situation of the R&D Sector in Poland in the Face of the Current Crisis

Published Online: 30 Dec 2021
Page range: 409 - 424

Abstract

Abstract

How has the current crisis caused by the COVID-19 pandemic affected R&D and innovation in Poland? Numerous international studies conducted after the Great Depression in 2008–2010 show a strong procyclicality of investments in R&D and innovation in companies: investments rise during the economic upturn and fall sharply during the crisis. This procyclicality is driven within firms both by internal financial resources and by differences in market incentives to innovate. It seems likely that the COVID-19 crisis caused financial weakness for many actors, having the most significant impact on the willingness or ability of smaller firms to support R&D and innovation. However, where firms are able to sustain these investments, evidence from the crisis a decade ago suggests that they will be more likely to survive, grow more strongly, and have higher profitability. Based on the analysis of the literature and macroeconomic data, this paper presents several recommendations that, if implemented by R&D actors, could help increase the efficiency of operations, even in times of crisis.

Keywords

  • crisis
  • COVID-19
  • R&D
  • innovation
Open Access

Crisis and Innovations: Are they Constructive or Destructive?

Published Online: 30 Dec 2021
Page range: 425 - 449

Abstract

Abstract

An interdisciplinary approach was used to analyse multicomplex issues of the Covid-19 crisis, demonstrated also by the Economics of innovation. The Economics of innovation is useful when analysing a unique feedback of megatrends and the emergence of liminal crisis innovations. The purpose of this paper is, in spite of many statements to the contrary, to prove that innovative activity may serve as the key to unlocking a post-crisis economic development. Analyses presented in the paper are based on the Polish and foreign literature on the subject, reports on research conducted in many research centres and the author’s own observation at the Social Innovation Council. Three research themes are signalled: 1) the reality of the crisis in the aspect of Covid-19 pandemic and other crises in the literature studies and in practice; 2) innovation as the driving force for recovering from the Covid-19 crisis; 3) Coronavirus support: the activity of the state and social expectations. Conclusions and recommendations contained in this paper are, to a large extent, based on hermeneutics; they also stem from statistical data analyses and own research.

Keywords

  • crisis
  • Covid-19
  • liminal innovations
  • Coronavirus support
Open Access

The Logic of Gig Economy (Origins and Growth Prospects)

Published Online: 30 Dec 2021
Page range: 451 - 462

Abstract

Abstract

The 2007+ crisis led to an increase in occasional and task work, which unleashed the potential of new technological and organizational solutions. The advancements in digital technological platforms stimulated the growth of the segment referred to as gig economy. The article aims to apply a systematic approach to the driving forces behind the emergence of gig economy and its success to date and to assess its development prospects. It argues to confirm the thesis that gig economy has its own inherent logic, while it remains part of the multi-stage process of the evolution of employee-employer relations, from the industrial stage to the digital era to platform-mediated work. Based on the analysis of the current world literature, the article posits that gig economy, as the next stage of development, has significantly reduced the quality of work, but it may also not meet the individual needs of the contemporary consumer. This increases the likelihood of the need for its change. The article also envisages the direction of this change towards post-platform economy based on distributed market spaces and provides the characteristics of its determinants, including social capital and a sense of individual entrepreneurship. The primary methods used in the study involved analysis and critique of the current world literature as well as the method of analysis and logical construction.

Keywords

  • gig economy
  • crowdwork
  • platforms
  • post-platform economy
Open Access

Bilateral Trade By Products Between the V4 Countries and China in Years 2009–2019

Published Online: 30 Dec 2021
Page range: 463 - 482

Abstract

Abstract

Subject and purpose: Using annual data for the periods 2009–2019, this paper examines trade flows between China and the Visegrad Group countries. The aim of this article is to assess real changes taking place in international trade in the Visegrad Group countries (V4) over the last eleven years. The starting point for the analysis was 2009 – the time after the 2008 economic crisis, and it was compared especially to 2018 – a year marked by a significant improvement in the economy. The purpose is to discuss concerns related to the differences in bilateral trade between China and Poland, Czech Republic, Hungary, and Slovak Republic. The main aim of this research is to distinguish the characteristics of bilateral trade by products between V4 and China in years 2009–2019. The purpose of this article is also to systematize and discuss points of view, rationalizing further empirical research. Two research hypotheses, resulting from the research purpose, were formulated: H1: in the V4 countries import exceeds export, and this trend seems to be growing, H2: Chinese goods imported to the V4 are much more sophisticated than those exported.

Design/Methodology/Approach: To assess the initial and current situation on international trade between the V4 and China, the author uses variables obtained from WTO and OEC resources, diagnosing the situation in Poland, Czech Republic, Hungary, and Slovak Republic. The collected empirical data were processed using theoretical methods such as analysis, synthesis, and comparison to formulate conclusions using deductive and inductive inference methods.

Practical Implications: The results can be used in scientific and expert work on diagnostic and forecast trends in bilateral trade by products between the V4 and China.

Originality/Value: It concerns the indication of the importance of the V4 trade with China compared to the share of the V4 countries in world trade. It was also possible to identify the top export and import products of the V4. The findings also confirm the significant change in China’s trading structure.

Keywords

  • foreign trade
  • bilateral trade
  • Visegrad Group
  • V4
  • Poland
  • Czech Republic
  • Slovak Republic
  • Hungary
  • China
  • export of products
  • import of products
Open Access

Implications of the COVID-19 Crisis on the Creation of Innovations – Assessment Attempt

Published Online: 30 Dec 2021
Page range: 483 - 495

Abstract

Abstract

The aim of the article is an attempt to analyze the impact of the pandemic crisis (caused by the COVID-19 coronavirus) on innovations created by economic entities. The ongoing economic downturn has reasons different from previous economic peturbations, and has much more extensive effects across the entire global economy. Hence the need to analyze not individual economies as trends (megatrends) in the emergence of innovations initiated or significantly accelerated by the pandemic crisis. The analysis was made on the basis of reports from institutions such as the World Economic Forum, OECD or ESPAS, as well as preliminary studies conducted in some countries (eg the USA). It should be emphasized that due to the ongoing perturbations and the pandemic not ending, precise research results will be possible to obtain in later years.

Keywords

  • innovation
  • innovative activity
  • financial crisis
  • COVID-19 crisis
  • innovation trends
Open Access

What Did Central Banks Learn from Financial Crises?

Published Online: 30 Dec 2021
Page range: 497 - 512

Abstract

Abstract

During the global financial crisis (GFC) of 2007–2009 and the currentCovid-19 debacle, central banks acted quickly, boldly, and effectively. The paper argues that they did so thanks to the lessons learned from the past financial crises, which provided them with opportunities to reconsider their previous beliefs. A case in point is the banking crisis in the United States during the Great Depression of the 1930s that taught central banks to act rapidly and decisively in order to prevent an initial liquidity crisis from escalating into a solvency crisis leading to bankruptcies of banks with potentially disastrous consequences for the entire economy. The paper revisits the consequences of the currency crises of the 1990s, which transformed exchange rate regimes across the world: the EMS one of 1992–1993 that accelerated the launch of the euro, and the Asian one of 1997–1998 resulted in the proliferation of floating exchange rates in emerging economies.

Keywords

  • banking crisis
  • financial crises
  • central banks
Open Access

Gender and Economic Downturn. The Focus on Women and the Pandemic Crisis

Published Online: 30 Dec 2021
Page range: 513 - 530

Abstract

Abstract

The goal of the paper is to consider whether women are vulnerable or protected on the labour market during the pandemic crisis, seeking answers in the wider context of previous downturns and economic theory. In times of crisis, female employment is likely to be more susceptible to cuts, for several reasons explained i.a. by the flexible buffers hypothesis or sex segregation hypothesis. Since the pandemic crisis is still unfolding, many of its effects are still unknown but it can be expected that the COVID-19 crisis may have an unequal impact on women and men. Additional challenges in this crisis can be found in the home. Gender effects vary across EU countries, however, it is essential to develop at both the European and national level effective policy responses leading to gender balance in various dimensions (including paid and unpaid work).

Keywords

  • crisis
  • COVID-19
  • gender balance
  • labour market
  • unemployment rate
Open Access

Alternative Methods of Financing Humanitarian Crises. Crowdfunding

Published Online: 30 Dec 2021
Page range: 531 - 546

Abstract

Abstract

There is a continuous increase in the number of humanitarian crises around the world. The number of armed conflicts and attacks on civilians is increasing at an alarming rate. Natural disasters compounded by climate change and population growth are also occurring more frequently and with increasing intensity. Given that over 60 million people have been forcibly displaced worldwide, prolonged forced displacement has become the biggest humanitarian, development, political and economic challenge. The needs are increasingly outweighing resources, and humanitarian aid and civil protection are becoming increasingly complex.

Funds for humanitarian aid come from the budgets of individual countries. In situations of severe crisis, other state authorities may also decide to grant humanitarian aid from the funds at their disposal. In addition, there are many options for providing humanitarian aid. The purpose of the article is to present methods as crowdfunding for financing humanitarian crises that do not belong to state funds. Most often they come from community collections or projects where more people are involved. It must be admitted, however, that this assistance still seems disproportionately small in relation to the needs.

Keywords

  • humanitarian crisies
  • humanitarian aid
  • humanitarian needs
  • financing

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