Search results for "Market economy"

The Impact of Business Group Affiliation and Country-Level Institutions on Corporate Governance of Emerging Market Firms

2020

This study outlines how the corporate governance of emerging market firms is influenced by corporate affiliation and institutional embeddedness. We argue that the stronger the business group affiliation, the less likely is the emerging market firm to adopt shareholder value enhancing corporate governance, and that this relationship is moderated by institutional quality and tribalism. Based on189 initial public offerings (IPOs) from 22 African countries between 2000and 2016, we find a significant negative relationship between business group ownership and IPO firms’ quality of corporate governance. We also find this relationship to be significantly negatively moderated by country-level instit…

Poland Twenty Years With Market Economy

2010

This article presents the main factors behind the developement of the Polish economy since the introduction of a market economy twenty years ago. First there is a decription of how the privatisation process actually took place. Then is followed by some information about the development of a financial market, i.e. the banking sector. At the end there is a summary of some of the main factors behind the huge inflow of foreign investments to Poland during this period.

The Concept of Labour Market Flexicurity in the Eurozone

2013

This chapter discusses the evolution of the idea of a flexible labour market as a smooth shock absorber in case of asymmetric shocks. The concept of flexible labour markets became an institutionally well-established concept when the OECD constructed its index of labour market strictness. The OECD recognised, however, the weakness of its narrow approach and the European Commission put forward the more novel notion of flexicurity. Next, this chapter explains how the proposal of the concept of flexicurity aims at reaching a reasonable agreement between both the efficiency and the security principles by taking into consideration the interest of all the stakeholders in the labour market, includi…

Politics, Economics and Tourism Development in Egypt: insights into the sectoral transformations of a neo-patrimonial rentier state

2008

This article challenges claims that liberalising state-regulated markets in developing countries may induce lasting economic development. An analysis of the rise of tourism in Egypt during the past three decades suggests that the effects of liberalisation and structural adjustment are constrained by the neo-patrimonial character of the Egyptian political system. Since the decline of oil-rent revenues during the 1980s tourism development has been the optimal strategy to compensate for the resulting fiscal losses. Increasing tourism revenues have helped in coping with macroeconomic imbalances and in avoiding more costly adjustment of traditional economic sectors. Additionally they provided th…

Open It And They Will Come? The Impact of Fallen Barriers on Securities Market Participation

2017

Various barriers may prevent people from entering a market. Will they participate in the market despite their inexperience once the barriers fall? I exploit the socalled German reunification experiment in order to assess the impact of removed market barriers on participation rates: While East Germans were deprived of the possibility to participate in capitalist securities markets before 1989, the reunification of Germany offered access to those markets. I estimate that a person is, ceteris paribus, by 25–30 percentage points less likely to participate over a 3–7 years horizon after being initially excluded from the securities market, suggesting a prominent role of financial experience in ex…

Breaking the law? Varieties of social dumping in a pan- European labour market

2015

Non-competitive Elections at the Local Level and the Incumbency Advantage of Mayors – Research Experiences from Poland

2021

The objective of this paper is an attempt to answer if non-competitive elections to commune councils in Poland may be the result of incumbency advantage of mayors. The author assumes, that the effects of incumbency advantage of mayors in influence not only the competition for the office of mayor, but also the entire local political scene. These effects may weaken the competitiveness of elections and lead to the cartelisation of local political scenes. In extreme cases, it may even cause the degeneration of political pluralism and lead to non-competitive elections at both the executive and legislative levels. The paper analyses relationships between the competitiveness of elections at the lo…

Financialization of the Russian economy: features and role in stimulating investment activity

2019

Introduction: conceptualizing EU policy on labour migration

2015

This introduction sets the scene for the articles in this themed section. The starting point is the relatively recent but important developments that have occurred in the area of EU labour migratio...

Sustainability in the Contemporary Market Economy

2021

Abstract Over time, the market economy has undergone many changes caused by the processes underlying its operation, and have focused on the scarcity of resources, interdependencies between economic agents, intensified exchanges, technical and scientific progress and computerization of economic systems. Given the many variables that act and ensure the functionality of the contemporary market economy, it is particularly important that the interdependencies between them be addressed in terms of sustainability. This paper addresses sustainability as a condition for supporting sustainable economic development, starting from the main links that support economic growth, namely production and consu…