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- ItemThe impact of social expenditure on public debt in the Czech Republic and Slovakia(Technická Univerzita v Liberci, ) Raisová, Manuela; Pavliková, Ľudmila; Semančíková, Jozefína; Ekonomická fakultaEurope 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.
- ItemOn the gravity equation of trade: a case of Germany(Technická Univerzita v Liberci, ) Mazurek, Jiří; Ekonomická fakultaGravity 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.
- ItemResearch on the demand for parking lots of shopping centres(Technická Univerzita v Liberci, ) Palevičius, Vytautas; Burinskienė, Marija; Podvezko, Valentinas; Paliulis, Gražvydas Mykolas; Šarkienė, Edita; Šaparauskas, Jonas; Ekonomická fakultaOver the last decade, in the cities of Lithuania the number of shopping centres has been increasingly growing, they were provided with large parking lots. The development of shopping centres has formed a new structural and very concentrated urban element the result of activity of which has not been widely studied from the transportation point of view. When implementing a sustainable urban development the authors of the article aimed at ensuring the effective use of the parking lots of shopping centres during twenty four hours. For this purpose, an empirical research was carried out which resulted in a comprehensive analysis of the parking lots of 49 shopping centres in Vilnius City. The research used observation method to determine a design capacity of the parking lots of shopping centres, their occupancy, to additionally define the number of residents living in the closest proximity to the parking lot, the number of flats, the value of flats, the number of working population, the demand for parking spaces, occupancy of the parking lots with cars, etc. The expert method was used to select the main criteria characterizing interaction of the parking lots of shopping centres with the multi-storey housing area. With the help of expert questionnaire the weights and significances of criteria were determined. Using the multiple-criteria methods a priority use of the parking lots of shopping centres for parking of passenger cars was calculated and assessed. The article gives development priorities and outlines the strategy of implementing the given recommendations. This is one of the first attempts to use the parking lots of shopping centres to park passenger cars at night. If the suggested system is put into practice it would help to reduce up to 20% the demand for parking spaces in the urbanized multi-storey housing areas.
- ItemFactors of tourism's competitiveness in European union countries(Technická Univerzita v Liberci, ) Maráková, Vanda; Dyr, Tadeusz; Wolak-Tuzimek, Anna; Ekonomická fakultaTourism 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.
- ItemThe strategic location of regional headquarters for multinationals in Africa: south Africa as a host country(Technická Univerzita v Liberci, ) Luiz, John M.; Radebe, Busi; Ekonomická fakultaMultinationals enterprises are aiming to strike a balance between local responsiveness and global integration. The establishment of regional offices allows multinational companies to have a local insight of the market, competition landscape and customer preferences. With such detailed insight, multinational companies are then able to formulate effective and responsive regional strategies. The importance and value of regional headquarters in the academic literature has generally focused on them in industrialized countries. The result is that we do not yet fully possess an overall framework for understanding how value and decisions are devolved, how location decisions are made and how their structures and strategies are evolving to accommodate the growth in emerging markets. The study examines the dominant criteria used by multinational enterprises to choose their locations for regional headquarters in Africa by examining South Africa as a host country for the continent. We find that the main criteria are linked to the advantages of agglomeration and the accompanying economies of scale, and a sound institutional framework which provides a predictable economic climate. In emerging markets which often suffer from institutional voids and thus higher country risk profiles, multinationals choose to locate in the environment which is most familiar to its home rules and use it as a springboard to do business in more ‘hostile’ milieus. The implications for managers looking to do business in Africa is to recognize that this is a continent still consolidating its transition to a sounder institutional environment. Given the unique business environment it will be a difficult region to manage successfully from centralized headquarters and thus using regional headquarters with local knowledge has real advantages.