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Presently services are most important sector of economy in most countries. Economies can
not develop without modern services e.g. telecommunication insurance, informatics, financial
services. In foreign trade those services are called „other”. They hale been growing very Fast
along with development of technology. Development countries tale the biggest advantage о fit
and dominate in word trade...
The EU is one of the most prosperous economic areas in the world but disparities are significant.
The whole history of European integration has been marked by a strong tendency towards
economic and social cohesion. The main goal of the EU cohesion policy is to reduce
economic, social and territorial disparities within the European Union. Council Regulations
laying down general provisions on the...
Human capital is one of the most important factors of the socio-economic development. In
the paper there are presented the selected issues concerning human capital in Poland in the context
of membership in the European Union. The attention is given to a notion of human capital,
human capital in Poland against a background of EU countries, Poles' foreign migrations,
National Strategic Reference...
The purpose of this article is to present the nature of credit rating and the role of rating in
the process of raising capital.
The credit rating plays more and more important role on the financial markets, especially
on the international debt capital market. The main role of credit ratings is to enhance transparency
in financial markets by reducing an information asymmetry between borrowers and...
There are many determinants of currency composition of foreign reserves. The most important
are: the currency pegs, the direction of trade, the currency of foreign debt, the liquidity and depth of
financial markets. Accumulation of foreign reserves and euro as a new currency add a new stimulus to
a diversification of reserves. However, there is high inertia in reserve composition.
Well developed...
The article discusses theoretical premises for the influence of financial risk management on
firm’s value. Financial risk management presents a firm with the possibility of a reduction in the
volatility of future earnings and assets’ value. This can lead to an increase in an enterprise value
by means of:
- reduction in the required rate of return for investors, providers of debt and other stakeholders...
The article presents past and current challenges connected with legal regulations concerning
European undertakings for collective investment. Introduced and planned changes were presented
in this article. Particular emphasis was pul on foundations of Green Book and White Book
connected with investment funds market. Additionally, the article presents the development of
European institution of collective...
The interrelationships between the development of the financial system and the growth in
the economy are the subject of the research of many authors. The research on these relations is
being conducted both on theoretical and empirical land. On the basis of current analyses and
studies concerning the relation between the financial development and the growth in the economy
it is hard explicitly...
The paper presents an analysis of balance of payments and its influence on international investment
position of Central and Eastern European countries in the period 1996-2006. During
that period CEE countries experienced high current account deficits covered by rising foreign
capital flows. That led to a sharp increase in foreign liabilities. However, a deterioration of net
foreign investment...
Poland, being one of the UE’s countries, finally will bccame the euro’s territory. There is a few
criterions which must be done in the future. The criterions were included in the Maastricht Tract and they
concern:
• Stabilized government’s budgetary politics,
• Stabilized monetary rate,
• Limiting differences in the interest rates to 2 points to countries which have the least index of
...
The theory often sees options as financial instruments very similar to other derivatives in
that sense that their value depends on prices o f other assets called underlying instruments. The
feature that makes options different from other derivative instruments is that their value also depends on volatility of market prices. In fact speculation on prices, which is a dominating use
of let’s say futures,...
The changes which take place in world economy influence the organizational systems and
strategies of global market payers. It seems that the most important participants of that process
are international corporations. Their position is the consequence of the capitalism transformation
and its evolution from the enterprise to management and later investors’ form.
The main aim of the paper is to prove...
The suspension of Doha negotiations in July 2006 does not imply that the Round will finally
collapse. It seems interesting to evaluate from the current Polish perspective whether multilateral
system for agriculture should be maintained in its present form. Thinking globally, multilateral
liberalisation is good since, in terms of welfare, the EU will be its main beneficiary and Poland
became a...
Cultural differences of world market cause detaching of particular groups of individuals
characterized by similar features. They are elements (criterion) which are a base of the division.
There are many different classifications based on different criterions which were prepared and
partly researched by different authors. Using those criterions the features of cultures (societies)
or cultural groups...
This article presents the problem of stranded cost in the European electricity sector and especially
in the new EU member states. Stranded costs are costs that were incurred by companies
before the liberalisation of the electricity sector and that the effects of the liberalisation makes it
impossible or very difficult to recover. The appearance of stranded costs influences negative the
liberalisation...
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