Gospodarka Narodowa-The Polish Journal of Economics最新文献

{"title":"Efficiency Determinants of Regional Innovation Systems in Polish Subregions","authors":"D. Ciołek, Anna Golejewska","doi":"10.33119/gn/151792","DOIUrl":"https://doi.org/10.33119/gn/151792","url":null,"abstract":"In the current knowledge-based economy paradigm, it is innovativeness that may enable lagging regions to be as competitive as more developed regions. The innovation and efficiency of regional innovation systems (RISs) are crucial for enhancing economic development. Using data envelopment analysis (DEA) with environmental factors, we conducted an assessment of the efficiency of RISs in Polish subregions. On this basis, a list was drawn up of efficient subregions with strong innovation as well as efficient regions with weak innovation. The results confirm that, in most cases, Polish subregions are not using their full potential. While estimating the panel model, RIS features that influenced efficiency were identified, and the positive impact of the innovative milieu, spatial proximity and the share of industry in value added were confirmed. The negative impact of unemployment and factors reflecting the low level of social capital were identified. The obtained results may be the basis for formulating an appropriate innovation policy at the regional level, especially in Central and Eastern European countries. We suggest that the use","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" 30","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41253477","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 Evolution of Fiscal Policy and Public Debt Dynamics: The Case of Sweden","authors":"A. Staszewska-Bystrova, V. Bystrov","doi":"10.33119/gn/151794","DOIUrl":"https://doi.org/10.33119/gn/151794","url":null,"abstract":"The aim of the paper is to evaluate the long-run sustainability of fiscal policy in Sweden using a time-varying fiscal reaction function. Sufficient sustainability conditions are discussed, and it is demonstrated that fiscal sustainability is consistent with various types of transient fiscal policy and temporary debt expansions. The fiscal response to the debt-to-income ratio is estimated recursively using constant gain least squares. The evolution of fiscal policy in Sweden is evaluated over the period from 1850 to 2014. It is demonstrated that a sustainable fiscal policy can be an outcome of a long-run process of learning. In this process, fiscal authorities are forced to adapt their policies to changes in the economic and political environment. It is concluded that fiscal sustainability should be judged by the eventual ability of fiscal authorities to stabilise debt rather than by transient debt dynamics.","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42464783","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":"Innovation Performance of Foreign Subsidiaries in Post-Transition Economy: Evidence from Poland","authors":"T. Gołębiowski, Lidia Danik, M. Lewandowska, Piotr Zaborek","doi":"10.33119/gn/151793","DOIUrl":"https://doi.org/10.33119/gn/151793","url":null,"abstract":"The host country environment is an important source of knowledge for multinational enterprises (MNEs). The resources and competencies of MNEs’ foreign subsidiaries (FS) as well as internal and external relationships are perceived to be critically important for their performance. This study intends to fill a cognitive gap in the understanding of factors influencing the innovation performance of FS established in Poland. FS innovation performance is explained by their resource-based specific advantages, internal embeddedness in the corporate network, external embeddedness, and by interactions between their systemic power and autonomy. The analysis is based on a 2018 survey of 436 manufacturing FS in Poland. The ordinary least squares (OLS) regression model was applied, along with three quantile regression equations to provide additional layers of detail. We observed a positive influence of FS’ own assets on innovation performance, especially if coupled with their deep internal embeddedness. The study also found a positive influence of internal embeddedness on innovation performance enhanced for high/ medium-high-tech firms if coinciding with strong resource-based specific advantages. Another finding was that the external embeddedness of FS had a positive effect on their innovation performance. Besides, the positive influence of systemic power on innovation performance was only revealed for high/medium-high-tech FS, while the subsidiaries’ autonomy showed no significant influence on their innovation performance. External embeddedness has a generally positive impact on innovation performance, enabling subsidiaries to take advantage of external links in knowledge sourcing. But again, in the case of low-tech firms, strong links with external partners did not support innovation performance as much as in the case of more technologically advanced industries. Interestingly, the positive effect of external embeddedness was also weaker in the case of large foreign subsidiaries. Such firms were probably less dependent on their local partners in their innovative activities. A possible explanation for this is that many of the large manufacturing subsidiaries located in Poland are included in the multinational enterprises’ global value chains as suppliers of intermediate or final goods, and innovation activities are mainly coordinated within multinational enterprise internal networks. results of the study indicate that foreign subsidiaries located in find it difficult to exploit potential benefits from interactions between internal and external relationships to increase their innovation performance. Dual embeddedness is recognised as an important mechanism by which the FS, being the link between the host country partners and the internal multinational enterprise network, is able to bind and recombine complementary knowledge extracted from both types of relationships. The resulting new competencies and innovative solutions and their application in the network inc","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44325331","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":"Urban Bioeconomy in Poland: Experience and Potential","authors":"A. Sobol","doi":"10.33119/gn/151796","DOIUrl":"https://doi.org/10.33119/gn/151796","url":null,"abstract":"The challenges of climate change require decision makers to put the emphasis on a resource-efficient and low-carbon urban economy. This course of action is promoted in the European Union’s “Green Deal” strategy. The policy includes a push for a circular economy, including bioeconomy. Urban areas are classified as centres of change: bioeconomy hubs. The aim of the paper is to present prevailing outcomes in the field of urban bioeconomy and to determine the potential of cities in Poland in this area. The potential to develop the urban bioeconomy in Polish cities is significant. In most Polish cities, there is still a significant share of biologically active areas, agricultural land and forests. The potential of biologically active spaces in most Polish cities is underestimated. To this end, the analysis undertaken in this article is based on an investigation of scientific studies, internet sources and other data, including public statistics.","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44598919","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":"Long Shadows of Financial Shocks: An Endogenous Growth Perspective","authors":"M. Bielecki","doi":"10.33119/gn/151795","DOIUrl":"https://doi.org/10.33119/gn/151795","url":null,"abstract":"The Great Recession has resulted in a seemingly permanent level shift in many macroeconomic variables. This paper presents a microfounded general equilibrium model featuring frictional labor markets and financial frictions that generates procyclical R&D expenditures and replicates business cycle features of establishment dynamics. This allows demonstrating the channels through which productivity and financial shocks influence the aggregate endogenous growth rate of the economy, creating level shifts in its balanced growth path. I find that financial shocks are an important driver of the aggregate fluctuations and their influence is especially pronounced for establishment entry. Since the growth rate of the economy can in principle be affected by policy measures, I examine the macroeconomic and welfare effects of applying several subsidy schemes.","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45749789","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":"Cost of Active Management in Polish Investment Funds","authors":"Artur A. Trzebiński","doi":"10.33119/gn/151791","DOIUrl":"https://doi.org/10.33119/gn/151791","url":null,"abstract":"The article presents a study on the costs of active management based on five different measures: the active expense ratio, the active fee, the new active fee, the active to passive fee, and the maximum acceptable fee (MAF) ratio. There are two main objectives of the article. The first one is to indicate which measure is best in estimating the costs of active management. The second one is to check whether the costs incurred are related to the value added for investors. In the study, 34 Polish equity mutual funds are evaluated. Based on the obtained results, it can be concluded that two measures, the active to passive ratio and the MAF ratio, provide the most practical information. What’s more, active management does not generate any excess returns. On the contrary, a reduction can be observed.","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47689309","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":"Labour Market Policies and Other Determinants of Employment Flexibility","authors":"Michał Taracha, Krzysztof Mirowski","doi":"10.33119/gn/149197","DOIUrl":"https://doi.org/10.33119/gn/149197","url":null,"abstract":"","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47710899","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":"A Simple Model of Educated Hand-to-Mouth Consumers","authors":"A. Pigoń","doi":"10.33119/gn/144196","DOIUrl":"https://doi.org/10.33119/gn/144196","url":null,"abstract":"The main goal of this paper is to analyse the role of human capital in the incidence of hand-to-mouth ( HtM ) consumers: those who have no liquid resources. The proposed model is based on a two-asset model by Kaplan, Violante and Weidner [ 2014 ] with an extension to allow for endogenous accumulation of human capital and is confronted with empirical data on US households from the Survey of Consumer Finances (SCF). I show how the HtM status of consumers depends on their innate abilities, time preference and initial resources. Wealthy HtM households, i.e. households with illiquid resources but with little or no liquidity, are more able, more patient and initially richer than poor HtM households. As a consequence, they accumulate more human capital than poor HtM households. For both types of households, their status depends on having a steep income path, which is endogenous because of endogenous human capital accumulation. The correlation of observable characteristics with HtM behaviour may be of interest to","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45554414","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":"Regulation of Usury: Justification, Consequences, and Some Lessons from Polish Experience","authors":"R. Kowalski, G. Wałęga","doi":"10.33119/gn/149195","DOIUrl":"https://doi.org/10.33119/gn/149195","url":null,"abstract":"In this paper we analyse a recent debate on justification of usury regulations and their implications. To investigate the impact of liberal, competition-enhancing policy on usurious practices, we present a case study of the Polish payday loan market after 2008. We also examine the efficacy of usury regulations in Poland. Our study finds that consumer welfare, social welfare, and the risk of exploitation of borrowers are the main arguments for introducing interest caps. We demonstrate that, in pursuit of greater profits, loan companies use additional non-inter-est fees and commissions as well as bundling, and thereby reduce the transparency of loan agreements. We show that rising competition on the payday loan market is not sufficient to reduce the cost of loans, especially when the efficacy of regulatory control is deficient and unsatisfactory. Therefore, the size of to the of their welfare ; an empirical relationship between a present and an increased they themselves is correlative in Thus, the results of their study do not confirm the theoretical findings which assume the causal character of this relationship.","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45715131","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":"Evaluating Poland’s Family 500+ Child Support Programme","authors":"Filip Premik","doi":"10.33119/gn/149193","DOIUrl":"https://doi.org/10.33119/gn/149193","url":null,"abstract":"I investigate the immediate effects of the introduction of a large-scale child benefit programme on the labour supply of household members in Poland. Due to non-ran-dom eligibility and the universal character of the programme, standard evaluation estimators may be inconsistent. In order to address this issue, I propose an approach that combines difference-in-difference (DID) propensity score based methods with the covariate balancing propensity score (CBPS) approach developed by Imai and Ratkovic [ 2014 ]. The DID estimators exploit the time dimension to uncover the causal effect of interest. The CBPS method is expected to significantly reduce the bias resulting from systematic differences between treated and untreated subpopulations. I also account for potential heterogeneity among households by focus-ing on comparisons between locally defined subpopulations","PeriodicalId":40977,"journal":{"name":"Gospodarka Narodowa-The Polish Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46468541","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}