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International payment imbalances are usually discussed in the context of the U.S. - China relations. However, it is worth noticing that apart from China also Germany and Japan and many other countries (mainly raw-material exporters, such as Russia, Saudi Arabia, etc.) belong to surplus countries. Germany and Japan are characterized by specifi c features among which high international competitiveness...
Th e hospitality and tourism sector is experiencing numerous challenges as a result of the global economic crisis. Aft er a significant contraction in 2009, tourism rebounded strongly in 2010 and in 2011 the international tourist arrivals and receipts are projected to increase substantially. Th e hospitality industry is expected to show a sustained recovery in 2012. Th e crisis has particularly strong...
The main aim of the article is theoretical and empirical analysis of the causal relationship between the budget balance and the current account balance in the Baltic countries (Latvia, Lithuania and Estonia) in the period 1999-2010. In the paper are used methods based on the literature study of international economics and international fi nance as well as econometric methods (Vector Autoregressive...
The need for tighter and more robust supervision of the global financial system was apparent long before nowadays economic crisis burst out. Although Basel I was the cornerstone of the first effort for the imposition of international regulations to banks, soon it was outrun being substituted by Basel II. The economic shock of 2007 financial crisis led the Committee of Banking Supervision of Basel...
The aim of this paper is to discuss the real (gross) values of the management fees charged by the investment funds' managing firms in Poland as well as the difference between these values and the published ones on one hand and between them and the respective fees charged by the managing firms in Western European countries on the other. To meet this aim the concept of the real (gross) rate of return...
Sustainable development is the overarching long-term goal of the EU. In realizing its the European transport policy is playing the important part. Th e paper presents meaning of the transport policy in implementing the idea of sustainable development as well as the instru-ments favoring sustainable development.(original abstract)
In this paper we describe a decomposition of the Th eil measures of per capita income inequality which accounts for interaction eff ects between its multiplicative factors. Our theoretical evidence, supported by an empirical application referring to EU-27 countries in the year 2010, suggest that neglecting these eff ects may strongly bias the relative importance of some factors, with consequent misleading...
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