{"title":"Analysis of the Structure of Various Components for Gross Fixed Capital Formation. Comparative Study Case for Poland and Other Selected European Countries","authors":"Izabela Szlaska","doi":"10.57017/jaes.v17.3(77).09","DOIUrl":"https://doi.org/10.57017/jaes.v17.3(77).09","url":null,"abstract":"Considering the literature which demonstrates the high importance of investment in creating a competitive advantage for the economy and economic growth, an analysis was made of the structure of some elements of gross fixed capital formation in the Polish economy and few selected European countries. This made it possible to identify the situation of the Polish economy over the years in terms of the structure of investment, and to attempt in answering to the question of whether the rate of accumulation of fixed capital in Poland is sufficient to close, or reduce the distance of development in relation to highly developed countries. In Poland, the leader among the sectors which absorb the largest percentage of investments remains expenditures with construction assets, and the smallest expenditure with intellectual property products. Poland is one of the countries with high GDP growth over the years. However, along with GDP growth, a decreasing trend can be seen in the sphere of investment expenditures, which does not allow for the reduction of the development gap. The methods used include an analysis of the literature, data contained in statistical databases (GUS and Eurostat) and specialized reports (PARP). The period of analysis covers the years 2004-2020 due to the fact that Poland's accession to the European Union took place in 2004, which allows for accurate international comparisons.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114980396","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}
{"title":"Decision Choice under Pareto Optimal Criteria","authors":"S. Chatterjee","doi":"10.57017/jaes.v17.3(77).03","DOIUrl":"https://doi.org/10.57017/jaes.v17.3(77).03","url":null,"abstract":"According to the axiomatic foundations of social choice theory, not all decisions benefit everyone. Often, decisions that do not have any implied benefit for the decision maker are made in the (best) interests of others. When a decision is made concerning welfare of others, some individuals - including the decision maker, may be on the receiving end. For, it is impossible to make social decisions by taking into account individual preferences that satisfy all and everyone. This is because of a great variety in individual choices and preferences ubiquitous among different individuals. Tastes vary among different people—so does individual preferences, and that is natural. Conflict of interests arises due to subtle variances in individual preferences. In this paper, we discuss about the decision choice that seldom works for every conceivable set of individual preferences. Following Arrovian precepts, it is impossible to satisfy all, for there remains a great diversity in individual preferences that result in the problem of choice. Hence, in this research, we develop a taste-based theory of social choice that attempts to address the problem of choice by helping individuals choose the best and the most effective and optimal option among a given set of alternatives that’s assumed to be rational.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129622735","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}
{"title":"Asymmetric Information and Ranked Information Are Equivalent in Making Information Utilization Heterogeneous","authors":"Taiji Harashima","doi":"10.57017/jaes.v17.3(77).07","DOIUrl":"https://doi.org/10.57017/jaes.v17.3(77).07","url":null,"abstract":"In information economics, any piece of information is assumed to have the same value across people, even if the information is distributed asymmetrically. However, in actuality, information has different values across people, even if it is distributed equally, because people utilize the same information differently and reach different conclusions with it. In this paper, I construct a model of heterogeneous information utilization by introducing the concept of ranked information. I conclude that the effects of asymmetric information and ranked information on economic activities are essentially equivalent. However, there are still some differences between them, and ranked information will be more economically important than asymmetric information. Furthermore, ranked information can cause an extreme economic inequality.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133908275","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}
{"title":"The Nexus Between Taxation and Gender-Based Informality: Evidence from Nigerian Enterprise Survey Data","authors":"Suleiman Tahir, A. Sanda, Dal Didia, Baban Hasnat","doi":"10.57017/jaes.v17.3(77).06","DOIUrl":"https://doi.org/10.57017/jaes.v17.3(77).06","url":null,"abstract":"Using the Nigerian enterprise survey data, this paper examines whether there is a gender dimension in the capacity of informal firms to contribute to tax revenues, a more specific question asked is whether tax rates and female gender ownership effects informality. Gender categorization of the firm’s ownership shows an overwhelming dominance of men holding over women, with a favorable ratio of 6:1 of the total sample. The results of the investigation on firms owned by females revealed that they are more likely to remain in the informal sector. By using the cross-sectional logit regression approach, we found no statistical significance between tax rates and a firm’s propensity to join the informal sector. It explains a typical scenario where the tax rates mechanism has failed to transmit effectively. Finally, we attained a divergent policy indication that suggests tax compliance enforcement and incentivizing female firms’ owners, among other measures. ","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"226 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126028947","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}
{"title":"Reaction of the Philippine Stock Market to Domestic Monetary Policy Surprises: An Event Study Approach","authors":"Raluca Maran","doi":"10.57017/jaes.v17.4(78).01","DOIUrl":"https://doi.org/10.57017/jaes.v17.4(78).01","url":null,"abstract":"This paper uses an event study analysis to assess how stock prices in the Philippines have reacted to domestic monetary-policy changes using data at a daily frequency from 2017 to 2022. A major contribution of this paper is the construction of a monetary-policy surprise measure for the Philippines, as the difference between the actual change in the monetary policy rate and the change anticipated by professional forecasters. My results are consistent with the literature, suggesting that unanticipated monetary policy changes exert a significant influence on stock prices in the Philippines. Overall, I find that an unexpected increase of 25 basis points in the monetary policy rate increases stock prices by about 1.09% on average. These results are robust to the inclusion of additional control variables in the baseline regression model, such as the implementation of restrictions to economic activity to curb the spread of the COVID-19 outbreak or revisions to macroeconomic forecasts released concomitantly with the monetary-policy rate announcement.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"34 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116499316","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}
{"title":"Testing Okun’s Law in South Africa","authors":"Sanele Stungwa, Tozamile Siphuxolo","doi":"10.57017/jaes.v17.2(76).06","DOIUrl":"https://doi.org/10.57017/jaes.v17.2(76).06","url":null,"abstract":"The purpose of this study is to see whether Okun's coefficient exists in South Africa. The study analysed yearly data from 1995 to 2020. The study used an error correction model (ECM) to assess the short-run relationship between the variables under investigation. The granger causality test is also used to examine the variables' short-run causality. According to the study's results, there is a negative and significant relationship between unemployment and GDP in the short run. As a result, Okun's Law applies in South Africa. The Granger causality test findings reveal that GDP Granger causes unemployment in South Africa. As a result, the study recommends that policymakers prioritize balancing labour-intensive and capital-intensive jobs, as well as encouraging entrepreneurship and sufficient education and training.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125888080","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}
{"title":"Linking the Concepts of Financial Stability: Crises, Competition, and Concentration","authors":"Cristeta B. Bagsic","doi":"10.57017/jaes.v17.2(76).05","DOIUrl":"https://doi.org/10.57017/jaes.v17.2(76).05","url":null,"abstract":"Findings herein indicate that there is a chance that competition engenders systemic banking crisis for ASEAN emerging market economies, that is, there could be a competition-fragility nexus. On the other hand, at decreasing levels of competition, increasing concentration could harm financial stability. Meanwhile, when banking markets are already highly concentrated, increased competition would either not encourage fragility or be good for stability, i.e., a concentration-stability link is established. When controls for regulation and macroprudential tools are introduced, the opposite effects of competition and concentration on financial stability become more apparent.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116567800","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}
{"title":"How Many Innovations Need to Be Produced in the Process of Endogenous Growth with Fluid Intelligence","authors":"Taiji Harashima","doi":"10.57017/jaes.v17.2(76).03","DOIUrl":"https://doi.org/10.57017/jaes.v17.2(76).03","url":null,"abstract":"In innovation-based endogenous (Schumpeterian) growth theory, the production of innovations is constrained basically by the finite nature of the labor supply. In this paper, I show that innovations are constrained because (1) the amount of fluid intelligence of researchers in an economy is limited and (2) the returns on investments in technologies and in capital are kept equal through arbitrage in markets. With these constraints, equilibrium values of the number of researchers and their average productivity in an economy exist, and the equilibrium value of average productivity determines the amount of innovation production in each period. Distributions of fluid intelligence among researchers are most likely heterogeneous across economies, but if economies are open to each other, an economy with a smaller number of researchers with a high level of fluid intelligence can grow at the same rate as an economy with more of them.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116044703","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}
{"title":"Political and Legal Determinants of Economic Cooperation between Belarus and Poland","authors":"P. Misztal, V. Kulakou","doi":"10.57017/jaes.v17.2(76).04","DOIUrl":"https://doi.org/10.57017/jaes.v17.2(76).04","url":null,"abstract":"The legal and political sphere consists of legislative regulations, resulting from the policy of the state in which the businesses operate. The aim of the study is to verify the research hypothesis according to which political and legal factors significantly determine the mutual economic cooperation between Belarus and Poland in the period 2016 - 2020/21. The article places particular emphasis on the analysis of political and legal factors on the side of Belarus, due to the current political and legal crises. Against this background, the analogous political and legal set-ups in Poland are also presented. The analysis took into account, in particular: political stability, democratic nature of the state policy, level of corruption of public authorities, membership in international organizations, stability of legislative structure, the independence and efficiency of the judiciary. The results of the conducted research indicate that the nature of Belarusian-Polish relations is significantly influenced by the political situation in Belarus and the authoritarian way of appeasing power by the president of this country. Without fundamental changes in the internal situation in Belarus, it is difficult to expect spectacular breakthroughs and changes in Belarus' relations with Poland.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116919067","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}
{"title":"Some Financial Aspects of the Corporate Groups that Operate in Food Distribution and Specialized Retail in the COVID-19 Pandemic. Outline of the Determined Financial Indicators of Jerónimo Martins, SGPS, S.A.","authors":"Michał Mrozek","doi":"10.57017/jaes.v17.2(76).01","DOIUrl":"https://doi.org/10.57017/jaes.v17.2(76).01","url":null,"abstract":"The paper regards the selected financial indicators of the Jerónimo Martins, SGPS, S.A.: LFL Growth, Employment, Net Sales and Services, EBITDA Mg, Long Term Borrowings, Short Term Borrowings, and Total Borrowings. The fundamental aim of the paper is the assessment of the selected financial indicators of the Jerónimo Martins, SGPS, S.A. in terms of the COVID-19 pandemic. The following research problems were put forward: What is the diversification of the financial indicators of the Jerónimo Martins, SGPS, S.A. as a Portuguese corporate group that operates in food distribution and specialized retail? Which of the researched financial aspects of the Jerónimo Martins, SGPS, S.A has the highest, the middle, and the lowest level in 2017-2021? In the theoretical part of the paper was depicted the portfolio of Jerónimo Martins, SGPS, S.A. The studies were carried out: documentation, statistical, comparative, and dynamics analysis. The results showed that the Jerónimo Martins, SGPS, S.A. in terms of the COVID-19 pandemic as a Portuguese corporate group that operates in food distribution and specialized retail had different tendencies. The inference process took place in a deductive way.","PeriodicalId":385824,"journal":{"name":"Journal of Applied Economic Sciences (JAES)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127831313","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}