Fiscal Policy in the Slovak Republic

On 1st January 1993, the independent Slovak Republic (SR) began to exist. During 1993 a democratic political system was created. It is a parliamentary democracy with a president at its head. The functions of the president were created and instituted, the Constitutional Court and Supreme Supervision Office were established. They began to create the relations determined by the constitution between the parliament (the National Council of the SR), government, president and judicial power. The functioning of the new state began to be confirmed by the issuing of new legislative norms and laws. Starting the incorporation of the SR into international structures was an important factor in the political life of the SR. The SR became a regular member of the Council of Europe, and signed a treaty on the SR becoming an associate member of the European Union. The specific factors of internal political development did not adversely affect the tendency to continue with the transformation process in the economy and society. The SR fully succeeded in maintaining the high level of liberalization of prices and economic relations, already achieved in the former Czecho - Slovak Federal Republic. The liberalization of foreign trade and the associated internal convertibility of the Slovak currency were maintained. In the context of the adopted conception of privatization, standard methods of privatization, justified by the specific characteristics of the Slovak economy, began to be implemented. This led to a slowing down of the progress of privatization of large and medium sized companies. The main role of macro-economic regulation was maintenance of internal and external balance. During 1993, the neutral monetary policy of the central bank, and the restrictive budgetary policy of the government, worked in favour of macro-economic stability. The absence of wage regulation, abolished under the influence of the trade unions, during this year, interfered with the stabilizing macro-economic tendencies. Problems and complications appeared in the progress of the transformation process, but the political groups did not take this as a reason to interrupt the process.Slovakia, fiscal policy

Strategies for sustainable socio-economic development and mechanisms their implementation in the global dimension

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches to developing and implementation strategies of sustainable socio-economic development in order to increase efficiency and competitiveness of economic entities. Basic research focuses on economic diagnostics of socio-economic potential and financial results of economic entities, transition period in the economy of individual countries and ensuring their competitiveness, assessment of educational processes and knowledge management. The research results have been implemented in the different models and strategies of supply and logistics management, development of non-profit organizations, competitiveness of tourism and transport, financing strategies for small and medium-sized enterprises, cross-border cooperation. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities on the basis of models and strategies for sustainable socio-economic development. The results can also be used by students and young scientists in modern concepts and mechanisms for management of sustainable socio-economic development of economic entities in the condition of global economic transformations and challenges

The influence of some selected variables from accounting system on profit or loss of agricultural companies in the Slovak republic

The article presents the influence assessment of significance of some selected variables from the entrepreneurs' accounting system on the achieved profit or loss of the agricultural companies in the Slovak Republic. Accounting information serves as an active tool for internal users for operational as well as strategic company management, and for external users the information is determined as legally binding output information which is a subject to disclosure. Individual financial statements of assessed agricultural companies are considered to be the relevant source of information. Agricultural companies are represented by commercial companies and agricultural cooperatives. Profit or loss after income tax presents the final complex effect of economic company's performance. The existence and development of companies is conditioned by assets which amount and structure depend on focus and the range of subject activity but as well as on specific factors set by the production process in the agricultural primary production. The increase in liabilities is notable by the influence of unsufficient amount of own company funding sources, mainly the increase in trade payables. The continuance of company reproduction process is secured by a bank loan drawdown. The income situation of companies of agricultural primary production is favourably influenced by the subsidies of non-investment character. During the observed period of years 2004 - 2014 the examined variables were assessed by means of statistical methods. The obtained results of rate determination of statistical correlation between selected variables by means of classical canonical analysis and non-parametric correlation analysis secured that in the assessed group of companies all analysed variables influenced statistically significantly profit or loss after income tax, mainly the total value of assets and non-investment subsidies, except for years 2010, 2012 a 2013, when the statistically insignificant correlations was determined between profit or loss and especially short-term trade payables and current bank loans. As regards the existence point of view it is recommended to companies to maintain the optimal assets and capital structure as well as the achievement of suitable profitability of company's activity. Only the complex attitude towards the subject issue can be the assumption of sustainability for companies of agricultural primary production in the Slovak Republic and the increase in their performance

Czech Agricultural Sector: Organisational Structure and Its Transformation

This paper describes and evaluates the impact of the transition process in the agricultural sector in the Czech Republic; its objective is to analyse and clarify the outcome of transition, and the prospects of the sector. The paper starts with examination of agriculture under the communist regime, continues with the transformation process, in particular changes in total economic output, employment, production and other structural attributes. The qualitative assessment examines the transformation of state and collective farms into other corporate structures, where assets are not based on collective ownership. The paper further questions the reasons for a lack of profit and credit sources. The analysis is concluded with suggestions for further restructuralisation.Agricultural and Food Policy,

Policy Reform and Agricultural Adjustment in Transition Countries

After the fall of the Berlin Wall at the end of the 1980s, dramatic institutional and economic reforms took place in countries in Eastern Europe and the former Soviet Union. Agriculture was dramatically affected by these changes in policies. There are significant differences among reform policies in transition. However, most implemented substantial reforms in price and trade policies; privatization of property rights of land, farms, and agri-food businesses; and reforms of the institutions governing exchange. In this paper, we review key reforms and adjustments and discuss the causes of the differences between countries. In most cases changes in output, input use, and productivity were caused by a combination of initial conditions and reform policies. These interactions are particularly important in understanding the changes in productivity and labor adjustment patterns.Agricultural and Food Policy,