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    Long-term infrastructure investment: a new approach to the economics of location
    (Technická Univerzita v Liberci, ) Dlask, Petr; Beran, Václav; Ekonomická fakulta
    Contemporary modern development of a region (RD) is associated with some conception of economic volatility and technological knowledge. The RD is triggered by the existence of an infrastructure as a threshold. Only then can we expect the long-term economic and regional effects. From the long-term view, the development of most regions is also associated with a surprising diversity. The reasons for growth or stagnation are very often indistinct, and in some cases they are even unidentifiable.Existing development is a materialized foot print of earlier economic activities and there is more about that, for example, in Quality of life in cities, (European Commission, 2013). We should understand the economics of RD as an account; an account of either poor or successful regional management. In other words, regional economics and management (E&M) is at its causal roots a proof of the right or wrong decision rules and their implementation. This article argues that the state of municipalities and of regions is only partly a hostage of the regional investment economy and that a non-negligible way to success is paved by decision making processes especially through the use of certain decision criteria.The paper aims to demonstrate that:a) an elementary decision rule determines the decision space determining both time and conceivable actions, (timing of innovations, use and functions of areas, implementation of particular investments, localization of research directions, market expansion, etc.);b) dispersion effects are around and outside the primary investment that generates the growth;c) the burnout effect of the initial investment exists and begins to act after a certain time period; d) fixing the time of the initial investment burnout is identifiable and can be calculated.Point c) and d) represent triggers for any need of new investments, usually called innovation, modernization, reconstruction etc.
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    The impact of social expenditure on public debt in the Czech Republic and Slovakia
    (Technická Univerzita v Liberci, ) Raisová, Manuela; Pavliková, Ľudmila; Semančíková, Jozefína; Ekonomická fakulta
    Europe is facing the problem of growing consumption and increasing volume of public expenditure too for years. Financing of public expenditure (as a sum of short-term, medium or long term projects) is a complicated issue. Regarding the financial perspective, the primary result is the creation of budget deficits. Countries are currently not able to deal with them, and thus this problem leads to the creation of new deficits. Therefore, an economy creates public debt – through the accumulation of deficits. The aim of our paper is to examine the effect of social expenditure on public debt. We have focused on the examination of only two countries – the Czech Republic and Slovakia. Our findings confirm that social expenditure represents a significant proportion of public expenditure. Moreover, public expenditure and social expenditure as well have increased in volume in the previous years. Governments use them to fulfil their social role in the economy. From this perspective, financing of social expenditure also contributes to the deficit, and in the long term to the creation of public debt. For that reason, another objective of our paper is to verify the effect of social expenditure on public debt. We examine the primary hypothesis on the significant correlation between public expenditure and public debt. As a result, we created an econometric model to test our hypothesis that the variable of public expenditure is more significantly correlated with public debt than other selected economic variables. Moreover, we modified the model, and we tested the hypothesis that social expenditure is more significantly correlated with public debt than other selected economic variables. We found that hypothesis concerning public expenditure had been confirmed for both countries. Hypothesis about social expenditure was confirmed for the Czech Republic. However, in the case of Slovakia, this hypothesis could not be verified.
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    Factors of tourism's competitiveness in European union countries
    (Technická Univerzita v Liberci, ) Maráková, Vanda; Dyr, Tadeusz; Wolak-Tuzimek, Anna; Ekonomická fakulta
    Tourism is one of the most rapidly blossoming sectors of economy and its economic and social significance is expressed both in numbers (share in GNP, employment) and in a range of as important uncountable characteristics like expansion of a region, more intense development, building the spirit of local communities, actions preventing social exclusion or education of future generations for state progress. A number of countries, provinces and regions have achieved well-rounded social and economic growth by developing tourist economies and a range of necessary supporting measures, including complementary infrastructure, active and well-educated society by organising adequate living standards and fulfilling basic social requirements, etc. It is therefore important to determine factors that improve competitiveness of tourism to maximum extent. The objective of this paper is to evaluate dependences between competitiveness of the European Union member states and selected factors determining competitiveness of tourism in these states. A set of factors determining competitiveness of tourism is introduced, that is, capacity of tourist accommodation establishments, arrivals at tourist accommodation establishments, average expenditure of tourism trips (1 night or over) – domestic trips, average expenditure of tourism trips (1 night or over) – outbound trips, tourism domestic trips (1 night or over), tourism outbound trips (1 night or over) and their impact on levels of competitiveness is determined. Considerable geographical variation of availability of accommodation establishments in the European Union member states and high, statistically significance correlations between availability of accommodation establishments and numbers of tourists arriving in a given states and between competitiveness of the EU states and tourism expenditure are identified.
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    Supplier involvement in new product development: a case study from the semiconductor industry
    (Technická Univerzita v Liberci, ) Vayvay, Özalp; Cruz-Cunha, Maria Manuela; Ekonomická fakulta
    The global competition requires that the companies adapt themselves to technological changes rapidly, develop new products, reduce the cost, shorten the time to market, and increase the quality. In this context, supplier involvement in New Product Development (NPD) is determinant for a company to respond to the requirements of the increasingly dynamic markets. The main purpose of the paper is to demonstrate the importance of supplier involvement in NPD, buyer-supplier relationships and their effects on buyer’s NPD process, highlighting the benefits of supplier involvement, the barriers, the strategic aspects and industry aspects. These issues are addressed with a case study from the semiconductor industry. Besides helping to understand NPD in the semiconductor industry, the contribution and findings of this work are clear: the results achieved confirm the findings of studies referred in the literature review, and confirm that the semiconductor industry sector requires a closer and more complex relationship structure with suppliers, given the specificities and challenges of the sector, such as rapid technological changes, permanent innovation, global competition, reduction of cost and time-to-market cycle, increased capacity, among other. The main contribution of the paper to the scientific literature and to managers is the better understanding of the buyer-supplier relationships in NPD in the semiconductor industry.
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    On the gravity equation of trade: a case of Germany
    (Technická Univerzita v Liberci, ) Mazurek, Jiří; Ekonomická fakulta
    Gravity models (equations) of trade belong among the most successful empirical tools in the modern economics since their first economic applications in the yearly 1960s. They assume that bilateral trade is directly proportional to “economic sizes” (usually described in terms of GDP or income) of both trading partners and inversely proportional to their distance. The aim of this study was to examine Germany’s latest (2012) yearly aggregate exports to its major international partners by a gravity equation without and with selected trade frictions including a geographical adjacency (the so called border effect), an influence of the same or different currency (Euro), and a location in the Schengen Area, the zone of a free movement of persons. Gravity models both without and with selected trade frictions fitted the data well, while the model with frictions performed significantly better. The adjacency was found the most important single trade friction, the location in the Schengen Area appeared to be the least important friction (but it was still statistically significant). Other feasible trade frictions, such as border length, a location in Europe or democracy index were examined too, but their effect on the trade was rather negligible. A possible explanation of the border effect, based on information deficiency, is included in the study as well. Furthermore, it was observed that yearly Germany’s exports data are susceptible to large year-to-year fluctuations especially for countries with low imports. Therefore, using averaged data over five or ten years long periods might be more appropriate.