Evaluation of relation between investments and savings in Central European countries

The paper is aimed at the evaluation of a relationship between the rate of investments and the rate of savings in selected Central European countries. A reference period for the analysis is 1995–2009. In all analysed Central European countries, the rate of investments permanently exceeded (but exceptions) the rate of savings in the period under investigation. Through fitting the development series of a calculated indicator as a difference of the rate of investments and the rate of savings in monitored countries by a polynomial of the second degree it was possible to compare developmental trends of this indicator in particular countries involved in this analysis. Polynomial trends of the difference indicator of the rate of investments and the rate of savings in Central European countries in the monitored period indicate similar developmental tendencies characterized (at the beginning of the reference period) by increasing the imbalance of the rate of investments and the rate of savings (on average until about 2003) and then by follow-up tendencies towards the gradual return to the balance. For the purpose of comparison, a difference was also monitored between the rate of investments and the rate of savings in EU15 countries as a whole, which permanently fluctuated around zero. The mean value of this indicator amounted to 0.11% for the period 1995–2009. Thus, in EU15 countries, the rate of investments roughly corresponded to the rate of savings (on a long-term basis). Based on this analysis, it follows that there is a correlation between the rate of investments and the rate of savings. Calculated parameters of particular regression functions are presented as Results in this paper. Indices of correlation and types of a regression function were calculated for particular countries. For the Czech Republic, these results are statistically highly significant using all three types of regression functions. In Poland, they can be indicated as statistically significant using the polynomial of the second and third degrees similarly as in Slovakia. In Hungary, already the use of a polynomial of the first degree results in statistically significant results. Using a polynomial of the third degree gives statistically highly significant results. The intertemporal analysis of investments and savings presented in this paper can be also used and developed as part of the problem of an intertemporal approach to the balance of payments

Unemployment and growth in advanced economies in the pre-crisis period

The paper is aimed at assessing the relationship between the unemployment growth rate and the real GDP growth rate in three biggest advanced economic bodies of the world. In the statistical part of the paper the correlation determination of the real GDP growth rate and unemployment rate has been examined. The results of quantitative methods especially regression and correlation analysis statistically approved the correlation of chosen characteristics including the statistical significance in Japan and the United States. The situation in the European Union differs from the results of two other examined economies and the existence correlation hadn’t been proven statistically. This might be caused by a relatively specific economic development, structural and institutional changes which had occurred in the European Union during the reference period and which has had significant impacts for output and unemployment

Effects of labour migration on economic development during economic downturn and recovery

International labour migration is mainly promoted by economic interests. This paper focuses on the period before and after the economic crisis and puts together important facts regarding motivation to labour migration and provides explanations of its causes and impacts on the macroeconomic level. The economic explanation why is migration so severely restricted is that migration policies are essentially distributive tools, aiming at reducing negative effects of migration on wages and unemployment among natives and moreover, we may stress out the gradualist tendencies of migration and such migration restrictions can mitigate supply-side shocks that may negatively affect incomes or jobs of some specific groups. A partial objective of the practical part of the paper is to evaluate relationships between the rate of migration and selected economic indicators using adequate quantitative methods. While the correlation between the crude rate of net migration and the GDP per capita is very low, the existence of correlation between the crude rate of net migration and the unemployment rate is evident in the most of analysed countries. Statistical insignificance of correlation indices in some countries can be then attributed to structural problems of those economies

Analysis of labour market in the Czech Republic with respect to unemployment considering other countries of EU

The paper deals with the analysis of labour market in the Czech Republic with respect to unemployment considering other countries of EU and existing economic development. Evaluation has been carried out of the specific development of labour market, employment and unemployment in the Czech Republic in the period 1993–2008, incl. possible causes and trends of the development and international comparison of selected characteristics of labour market using adequate quantitative methods. Analysis of the Czech labour market during the period of its existence includes the eva­lua­tion of supply and demand in the labour market. The most important causes were monitored of changes in the supply in the labour market affected by the demographic development and social environment and substantial causes of changes in the demand in the labour market, which were affected by the performance of the given economics, by the growth of labour productivity and the number of available jobs. This is followed by assessing the development of unemployment in the Czech Republic and European Union. Substantial aspects were identified of the development of labour market and unemployment in the Czech Republic and EU as a whole and trends of the future development were indicated in the studied area. The international comparison of selected characteristics of labour market in the member countries of EU carried out by means of quantitative methods allowed to assess high differences among unemployment rates in this community and created another information source regarding the position of the Czech Republic in the European Union during the selected reference period. Significant differences in unemployment between all member countries point out to marked structural or institutional differences in labour markets in particular countries. Only a negligible percentage out of the total economically active population in the European Union migrates over the border of its member countries. This situation only augments a durable long-term unemployment growth in particular countries. Beside the insufficient labour force movement throughout Europe a next important problem in structural unemployment presents e.g., the incongruity in qualifications between supply and demand on the labour market. The current financial and economic crisis has cut at all previous positive unemployment development during a few months

Recent migration developments in the European perspective

The aim of the paper is to evaluate the development of international migration in relationship to the recent economic situation in member countries of the European Union using quantitative methods including cluster analysis. The number of immigration in Europe has declined since the start of the global recession. The main reason was the decrease of demand in many sectors of the national economy, for instance the demand for retail and construction workers. Despite the drop in new immigration, labour markets of the EU countries were hit very severely. Unemployment rates in the most of European countries increased much more in the category of migrants than among natives. Despite the general decline in immigration in Europe during the economic crisis, the number of immigrants employed in educational sector and health care has increased. Also the number of female immigrants has been growing. The cluster analysis uses a multidimensional variable that includes GDP, unemployment, inflation rate and also net migration. We can distinguish two main clusters in 2010. The majority of highly developed West European countries are a part of the first cluster; the second cluster includes the group of post-communist countries. The latter countries form two sub-groups. A relatively independent sub-cluster is formed by some of the EU15 countries that were hit by the financial crisis the most. In general, the main two clusters illustrate that the economic division of established and new member countries of the European Union is still present

Foreign direct investment with regard to the economic growth of the Japanese economy

Foreign direct investment presents an indivisible part of the global economy and a major catalyst to development. The paper stresses out the importance of FDI in boosting the growth of the nation’s economy and is aimed at assessing the flow of inward FDI into Japan in the frame of the economic development of the country. Many studies reflected the superior managerial efficiency and productivity of foreign business companies operating in Japan and this is considered to be an asset of inward FDI into Japan. From the beginning of the reference period (with an exception of last two decades) the ratio of FDI on gross domestic product in Japan remained quite stable. This economy witnessed augmented FDI flows in the 1990s but current economic situation aggravated by the global financial and economic crisis differs significantly from the development in previous years. A fitted developmental series using a logarithmic polynomial indicate the described trend of FDI in Japan. Based on results of methods of regression and correlation analysis (including testing the statistical significance), the correlation is evident between FDI and gross domestic product in the monitored country and the existence of a growth impact of FDI can be thus accepted

Cooperation as a competitive advantage: Public private partnership in R&D

This paper is aimed at evaluation the current situation of cooperation of private companies with public research organizations and it gives recommendations for improvements in this area. The main reason of low level cooperation of the university sector with enterprises is that this form of cooperation has not a long tradition in the Czech Republic and is not supported from the academic sector actively. At the present innovative enterprises cooperate on innovation especially together with suppliers and customers. Unfortunately there is not a deeper cooperation between innovative firms and public research organizations. Appropriate tools to promote collaboration between companies and public research could be tax deductions for companies that purchase results from public research organizations, innovation vouchers, or programs that promote long-term cooperation or horizontal mobility programs and counselling

Economic appraisal of the commodity vertical of pork market and its input prices in the Czech Republic

The aim of the article is to evaluate economic aspects of commodity verticals of pork market, including pigs for slaughter and pork meat taking into account input prices in the Czech Republic. In the Czech Republic, pig breeding and pork production had a traditional and significant position, which has been hampered by foreign competition in recent years. Czech pro-ducers can hardly compete with large enterprises from Germany or the Netherlands with modern infrastructure, concentrated production and are thus able to benefit from the economies of scale. Lower competitiveness of the Czech Republic in the production of pork reflects also in its high focus on imports. A result of several years of decline in the total number of pigs is high non-self-sufficiency of the Czech Republic in the production of pork and a high focus on imports. This is also evident from the calculated models of development trends in pork production in the Czech Republic. Correlations of pig breeding and other indicators were determined on the basis of selected indicators and create a basis for further analyses. A multidimensional regression analysis was performed using the backward stepwise regression method to evaluate pork production and selected economic indicators in the Czech Republic and confirmed an assumption that input prices have a significant impact on pork production in the Czech Republic. © 2020, Agricultural Academy, Bulgaria. All rights reserved.[VGS 2019K01