COMPOSITION OF PUBLIC INVESTMENT AND FISCAL FEDERALISM: PANEL DATA EVIDENCE FROM EUROPE

We present some stylised facts about the composition of public investment in Europe and analyse its determinants, with a special focus on the role of fiscal decentralisation. The empirical analysis is conducted both for levels of different types of public investment and for their shares in total public investment. The results suggest that fiscal decentralisation boosts economically productive public investment, notably infrastructure, and curbs the relative share of economically less productive public investment, such as recreational facilities. While not readily reconcilable with the traditional theory of fiscal federalism, especially as regards the provision of local public goods, these findings can be interpreted in terms of the literature on fiscal competition, with not only tax rates but also the quality of public expenditure weighing in firms' location decisions.Public investment; fiscal decentralisation; Europe

Information and communication technologies in Germany : Is there a remaining role for sector-specific regulation?

In order to analyze the remaining role for sector-specific regulation the focus of this paper is on those elements of the Internet periphery and Internet service provision, which are strongly based on telecommunications, in particular Internet access and Internet backbone. Section 2 deals with the role of telecommunications for the Internet, differentiating between local network access and long distance network capacity. In section 3 the new regulatory arrangements for communications services within Europe, with particular emphasis on Germany, are explained. In order to analyze the future role of sector-specific regulation from a normative point of view, in section 4 the network economic concept of a disaggregated regulatory approach is provided. Section 5 deals with phasing-out potentials for sector-specific regulation due to increasing competition within the local loop. In section 6 the role of technology-neutral regulation is considered, which implies that in an environment of competing network infrastructures sector- specific regulation should not be extended, but removed. Finally, section 7 explains the role of competition in the markets for backbone interconnectivity. --

Regulatory unbundling in telecommunications

Due to its dynamic nature, and the increasing importance of competitive sub-parts, the telecommunications sector provides particularly interesting insights for studying regulatory unbundling. Based on the theory of monopolistic bottle-necks the fallacies of overregulation by undue unbundling obligations are indicated. Neither the promotion of infrastructure competition by mandatory un-bundling of competitive subparts of telecommunications infrastructure, nor regulatory induced network fragmentation within monopolistic bottleneck com-ponents is justified. The impact of the shrinking of the areas of network specific market power on the remaining unbundling regulation is analyzed. Finally, the phasing-out potentials of unbundling regulation in European telecommunica-tions markets are pointed out. --

Conditions of the Development of Logistic Centers in Poland in the Context of European States Experiences

The article is, for the most part, the aftermath of his own examinations carried out in years 2007-2010 and concerning logistic centers development conditioning.Artykuł jest w znacznej mierze pokłosiem badań własnych autora przeprowadzonych w latach: 2007-2010 dotyczących uwarunkowań rozwoju centrów logistycznych

Sustainability of Corn Stover Harvest for Biomass

Off-farm demand for crop residues is expected to grow as bioenergy policies become effective. Demand for residues will provide farmers with an additional source of revenue but it may also trigger losses in soil organic carbon and increases in fertilizer application. This study develops a dynamic economic model of stover harvest that permits conceptualization and quantification of these potential tradeoffs. We parameterize our model based on publicly available studies of soil biophysical relationships in the Corn Belt. Under these parameter values and 2010 corn and fertilizer prices harvesting stover is not economically convenient at prices below $53 per dry ton of stover. Results suggest that the rate of stover harvest may be quite sensitive and negatively linked to corn prices, which means that policies favoring the use of stover for biomass may be overridden by further increases in corn price. The negative link between stover harvest and corn prices, while somewhat counterintuitive, is driven by the fact that removal of stover reduces future grain yield (through reductions in soil organic carbon). Results also seem to indicate that, under plausible parameter values, profit maximizing farmers would increase stover supply in response to increases in stover price. However increases in supply are, according to our simulations, associated with (potentially significant) reductions in soil organic carbon (and hence carbon emissions as these are positively linked) and increases in nitrogen application (and potential runoffs). This result suggests that concerns about adverse environmental implications of harvesting stover may be justified, and more precise quantification of environmental tradeoffs should be pursued by future research.stover supply, biomass, soil productivity, soil organic carbon, nitrogen, Environmental Economics and Policy, Farm Management, Land Economics/Use, Resource /Energy Economics and Policy, C61, Q12, Q24, Q42, Q53,

The Political Significance of the Gulf Cooperation Countries’ Sovereign Wealth Funds’ Investments in Central and Eastern Europe

Although there has been vivid academic debate as to what extent Sovereign Wealth Funds (SWFs) are motivated by political reasons, it is rather clear that countries can use state-owned investment funds as a tool of their foreign policy. Even Barack Obama, during his initial presidential campaign in 2008 commented: “I am obviously concerned if these… sovereign wealth funds are motivated by more than just market consideration and that’s obviously a possibility”. This book looks at SWF activities in Central and Eastern Europe (CEE) to determine the main motives for SWF presence in CEE. Are the potential financial gains the only reason behind their investments? Are SWF activities in the region dangerous for the stability and security of the CEE countries? The book is pioneering analyses of SWFs behaviour in the region, based on empirical data collected from the Sovereign Wealth Fund Institute Transaction Database, arguably the most comprehensive and authoritative resource tracking SWF investment behaviour globally.Rozdział pochodzi z książki: Political Players? Sovereign Wealth Funds’ Investments in Central and Eastern Europe, T. Kamiński (ed.), Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2017.This book was published in frames of project “Political significance of the Sovereign Wealth Funds’ investments in the Central and Eastern Europe”. The project was financed by the Polish National Science Centre (Decision no. DEC-2012/07/B/HS5/03797)

The small and medium enterprises Act as catalyst for economic growth and development in Pakistan: Economic growth and development perspective

This paper explores the value of small and medium enterprises for the economic growth and development especially in Pakistan. Moreover, it assesses the usage of information technology in SMEs sector of Pakistan. According to the recent Census of Establishments conducted by the Federal Bureau of Statistics (FBS) there are about 3.2 million economic establishments in Pakistan. Out of these Small & Medium sized enterprises (SMEs) (with employment base up to 99) constitute 90% of all private enterprises employing approximately 78% of non-agriculture labor force1. SMEs contributed over 30% to GDP, 25% in export earnings besides sharing 35% in manufacturing value addition2. The paper suggests that SMEs act as a catalyst to economical growth and development where IT embedded in their operations, planning and decisions like Hong Kong, Denmark and USA. Many other societies also place great value on the small and medium enterprises and encourage their activity. In fact, wealth and a high majority of jobs are created by small & medium businesses in the world. As a result, many experienced business people, political leaders, economists, and educators believe that fostering a robust small and medium business culture will maximize individual and collective economic and social success on a local, national, and global scale. It is recommended that SMEs may be offered access to inexpensive capital, tax exemptions and management advice & experiences and IT infrastructure which further leads toward the economical growth & development. The economical growth and development in a country can brings happiness and prosperity to its nation

Analysing how constraints impact architectural decision-making

Architectural design projects are characterised by a high number of constraints. Along with planning, energy performance and fire safety regulations, current designers have to face constraining factors related to budget, acoustics, orientation, wind turbulence, accessibility for the disabled, and so forth. These constraints steer the design process implicitly and explicitly in certain directions as soon as architectural designers aim at satisfying design briefs. We aim in this article at analysing the impact of such constraints on the design process. At this end, we have studied four design sessions in a particular (student) design use case. In analysing these four sessions, we used linkography as a method, because this appeared to be one of the better options to obtain a more quantitative assessment of the design process. The linkography method was combined with an interview of the student design team, in order to check the correctness of our conclusions