scholarly journals Monetary policy and investments in the Polish economy

2015 ◽  
Vol 6 (3) ◽  
pp. 7 ◽  
Author(s):  
Andrzej Jędruchniewicz
Keyword(s):  
Monetary Policy ◽  
Statistical Analysis ◽  
Capital Investment ◽  
Point Of View ◽  
Austrian School ◽  
Production Structure ◽  
Realistic Theory ◽  
School Research ◽  
National Bank ◽  
Polish Economy

Investments are an important source of development of enterprises and the economy. They depend on many factors. According to most of the major economic schools, an important factor influencing the level and dynamics of investment inputs is monetary policy. The main objective of the study is to investigate the influence of monetary policy of Polish National Bank on the dynamics and structure of investments in Poland. Due to the realistic theory of capital, investment changes were assessed primarily from the point of view of the Austrian school. Research methods that were used in this study include deduction and statistical analysis. In the years 2006-2013, the Polish economy has performed moderately linear relationship between the reference interest rate and the dynamics of investments. Changes in monetary policy led to a disproportionate growth of production of various goods both in periods of better and bad economic situation. Volatility of capital inputs was substantially higher than the production of consumer goods. Also, investments in industries at the early stages of the production structure changed more dynamically than those in sectors that are closest to the consumer. The obtained results confirm the theory of the Austrian School.

scholarly journals Model obiegu okrężnego z punktu widzenia teorii kapitału szkoły austriackiej

2019 ◽  
pp. 17-28
Author(s):  
Dawid Bródka ◽  
Andrzej Jędruchniewicz
Keyword(s):  
Production Process ◽  
Flow Model ◽  
Human Action ◽  
Point Of View ◽  
Austrian School ◽  
Structure Model ◽  
Production Structure ◽  
Circular Flow ◽  
Imperfect Knowledge

The aim of the article was to assess the circular flow model from the point of view of the theory of the Austrian School. The article discusses the theory of capital and the production structure model of this school. The issues discussed were related to the circular flow model that dominates the mainstream of economics. This model is criticized by the Austrian School because of too much simplification. The main allegations relate to the omission of: the creative nature of human action, the problems of imperfect knowledge and entrepreneurship that is associated with risk, the role of time in action and the production process, the vertical nature of production in the economy, linking savings and investments. The Austrian School also points to the aggregation of economic categories going too far in the circular flow model.

scholarly journals Model obiegu okrężnego z punktu widzenia teorii kapitału szkoły austriackiej

2019 ◽  
pp. 17-28
Author(s):  
Dawid Bródka ◽  
Andrzej Jędruchniewicz
Keyword(s):  
Production Process ◽  
Flow Model ◽  
Human Action ◽  
Point Of View ◽  
Austrian School ◽  
Structure Model ◽  
Production Structure ◽  
Circular Flow ◽  
Imperfect Knowledge

The aim of the article was to assess the circular flow model from the point of view of the theory of the Austrian School. The article discusses the theory of capital and the production structure model of this school. The issues discussed were related to the circular flow model that dominates the mainstream of economics. This model is criticized by the Austrian School because of too much simplification. The main allegations relate to the omission of: the creative nature of human action, the problems of imperfect knowledge and entrepreneurship that is associated with risk, the role of time in action and the production process, the vertical nature of production in the economy, linking savings and investments. The Austrian School also points to the aggregation of economic categories going too far in the circular flow model.

scholarly journals Economic features of monetary policy of countries in and their influence on unemployment rate of Ukraine

2016 ◽  
Vol 19 ◽  
pp. 15-26
Author(s):  
Iryna Navrotska
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Unemployment Rate ◽  
Capital Investment ◽  
The World Bank ◽  
National Bank ◽  
Countries In Transition ◽  
The International Monetary Fund ◽  
The Eu

Economic features of monetary policy of countries in transition and their influence on unemployment rate of UkraineThe aim of the article is to investigate the role of monetary policy in stimulating labor markets. The paper identifies instruments of monetary policy that affect labor market of countries in transition. The examined determinants are investment inflows, level of inflation and interest rate. Data were collected from the World Bank, the International Monetary Fund and the National Bank of Ukraine. The empirical results reveal that high interest rates of the countries in the EU are almost the lowest in comparison to those in transition economies, which reflects existing risk and instability of the economic system of countries in transition. Furthermore, the paper discovers gross capital investment to GDP per country and demonstrates Belarus leading in inflows of investment to the country. The research was conducted using the methods of theoretical explanations, descriptive and econometric analysis. The results of the empiric research have determined that for the period 2008–2016 asignificant relationship between refinance rate, amount of government securities and unemployment rate of Ukraine is observed. Consequently, Ukraine is provided with recommendations to decrease refinance rate for the purpose of stimulating inflows of investment to the country.

scholarly journals Cykl koniunkturalny w rolnictwie z perspektywy austriackiej szkoły ekonomii

2015 ◽  
pp. 111-121
Author(s):  
Jacek Maśniak
Keyword(s):  
Monetary Policy ◽  
Business Cycle ◽  
Growth Phase ◽  
Food Production ◽  
Production Structure ◽  
Business Cycle Theory ◽  
Austrian Business Cycle Theory ◽  
Austrian Business Cycle ◽  
The Business Cycle ◽  
Polish Economy

The aim of the article is to present the business cycle in Polish agriculture from the Austrian school of economics perspective. According to the Austrian business cycle theory, the main cause of business cycle is an expansionary monetary policy. It leads to lengthening the production structure in the growth phase. The largest growth is observed in sectors situated far away from the consumer. However, in the recession phase these sectors face the biggest downswings. The agriculture is relatively prone to fluctuations of production. A study carried out for the Polish economy in years 1999–2013 showed that the fluctuations of global and final agriculture output was larger than the food production, but smaller than the industry production.

scholarly journals Chosen Aspects of Modernization Processes in EU Countries and in Poland - Classical Point of View

2009 ◽  
Vol 12 (3) ◽  
pp. 83-96
Author(s):  
Edyta Dworak ◽  
Anna Malarska
Keyword(s):  
Statistical Analysis ◽  
Point Of View ◽  
Eu Countries ◽  
Sectoral Structure ◽  
Modernization Process ◽  
Polish Economy ◽  
Classical Point

The aim of this paper is an evaluation of changes in a sectoral structure of the employment in EU-countries in time. Against this background there are exposed changes in Polish economy in the period 1997-2008. There were used classical tools of the statistical analysis to illustrate and initially verification the theory of three sectors by A. Fisher, C. Clark i J. Fourastiè, orientated to the evaluation of the modernization process of EU-economies

scholarly journals Budget of the EU and Common Agricultural Policy for 2014-2020 in the light of the polish interests

Management ◽  
2014 ◽  
Vol 18 (1) ◽  
pp. 473-487
Author(s):  
Andrzej Czyżewski ◽  
Sebastian Stępień
Keyword(s):  
European Commission ◽  
Agricultural Policy ◽  
Common Agricultural Policy ◽  
European Parliament ◽  
Point Of View ◽  
European Council ◽  
The Political ◽  
The Common ◽  
Polish Economy ◽  
The Eu

Summary The objective of the paper is to present the results of negotiations on the EU budget for 2014-2020, with particular emphasis on the Common Agricultural Policy. Authors indicate the steps for establishing the budget, from the proposal of the European Commission presented in 2011, ending with the draft of UE budget agreed at the meeting of the European Council on February 2013 and the meeting of the AGRIFISH on March 2013 and then approved by the political agreement of the European Commission, European Parliament and European Council on June 2013. In this context, there will be an assessment of the new budget from the point of view of Polish economy and agriculture.

scholarly journals Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions?

2016 ◽  
pp. 6-12 ◽  
Author(s):  
Marko Skreb ◽  
Kostiantyn Khvedchuk
Keyword(s):  
Monetary Policy ◽  
Financial System ◽  
Underground Economy ◽  
Transmission Mechanism ◽  
Substantial Part ◽  
Negative Consequences ◽  
National Bank ◽  
System Improvement

The National Bank of Ukraine stepped on the track to a cashless economy aiming at reforming the financial system, improvement of the transmission mechanism, and reduction of the underground economy and corruption. A substantial part of money in the Ukrainian economy is estimated to be foreign cash in circulation. This article underlines the importance of considering it while conducting monetary policy. Negative consequences of high dollarization and proliferation of cash are emphasized. We discuss measures that are helpful in decreasing usage of cash in general and foreign cash in particular.

scholarly journals MONETARY POLICY OF THE REPUBLIC OF KAZAKHSTAN

2019 ◽  
Vol 7 (5) ◽  
pp. 103-110
Author(s):  
Ilyasova Gulmira Garifollaevna ◽  
Bekmukhametova Assemgul Bauirzhanovna
Keyword(s):  
Sustainable Development ◽  
Monetary Policy ◽  
Central Banks ◽  
Inclusive Growth ◽  
External Shocks ◽  
Credit Policy ◽  
Methodological Research ◽  
National Bank ◽  
The Republic ◽  
Near Future

Purpose: Currently due to Kazakhstan's high vulnerability to external shocks, Kazakhstan needs new growth factors to accelerate and provide more inclusive growth. The National Bank of Kazakhstan, as the central bank, is responsible for the development and implementation of state monetary and credit policy within the framework of powers provided by current legislation. Objectives of monetary policy are primarily carried out to achieve this goal. Restoration of trust to actions of economic authorities is possible only if a balanced and responsible policy, supported by concrete actions and results, is implemented. Methodology: This study provides a literature review of domestic and foreign authors, who conducted the study of monetary policy of Central Banks of countries in various aspects of international experience.  The study gives an analytical overview of the current monetary policy of the Republic of Kazakhstan. Main Findings: The study discusses the importance of Kazakhstan’s monetary-credit regulation as only by means of effective monetary policy state can mitigate economic crises, restrain inflation growth and stimulate investments in various sectors of country's economy. The studies are systematized theoretical and methodological research aspects of the monetary policy of Kazakhstan of which the conclusions and recommendations proposed to improve the economy of our country. Implications/Applications:  This suggests that we should work in the near future, look for drivers of growth, so as to ensure not just an anti-crisis manual management of the economy, but to enter the rails of sustainable development.

scholarly journals Young farmers’ income generating capacity and capital requirement

2016 ◽  
Vol 5 (1-2) ◽  
pp. 119-125
Author(s):  
Zoltán István Privóczki ◽  
Csaba Borbély ◽  
Károly Bodnár
Keyword(s):  
Capital Requirements ◽  
Point Of View ◽  
Plant Production ◽  
Capital Requirement ◽  
Production Structure ◽  
Young Plant ◽  
Economic Point ◽  
Arable Crops ◽  
Operation Period ◽  
Generating Capacity

The study examines the farms growing on arable crops run by yotmg farmers from economic point of view. The income generating capacity and capital needs of the sectors based on com cultivation are assessed, while the announced tender scoring system is taken into account. The number of agricultural and horticultural sectors with specialized young plant production farms increased strongly in recent years, so the results of these agricultural businesses have always been and still are in close connection with their production structure. The amount of income on these farms basically depends on the structure of production influenced by the income generating capacity, the capital requirements, the amount of the subsidies and the use of the relations opportunities of the industry. The versatility of the use of com produces different income generating capability and capital requirements which young farmers can successfully take advantage of during the design and operation period of their enterprises.

scholarly journals The Position of Heterodox Economics in Economic Science

2021 ◽  
Vol 66 (2) ◽  
pp. 275-290
Author(s):  
Eleonóra Matoušková
Keyword(s):  
Point Of View ◽  
Austrian School ◽  
Economic Science ◽  
Left Wing ◽  
Mathematical Methods ◽  
Heterodox Economics ◽  
Homo Economicus ◽  
Common Features ◽  
Economic Problems ◽  
Theoretical Approaches

In economic science dominate orthodox economics (mainstream economics respectively neoclassical economics). Despite its numerous intellectual failures, orthodox economics continue to prevail in teaching at universities. A certain alternative to orthodox economics is heterodox economics, which consists of three groups of theoretical approaches, represented by the Left-wing heterodoxy and Neo-Austrian school (we include them together in the Old heterodoxy) and the New heterodoxy. The objective of this article is to define the differences between orthodox economics and heterodox economics, to find common features of individual heterodox approaches and identify substantial differences between them and also highlight the relevance of these heterodox approaches from the point of view of the challenges we are facing today. A common characteristic of heterodoxy is the rejection of orthodoxy, especially its research methods. Heterodox economists reject the axiom that individuals are always rational, the concept of ‘homo economicus’, the application of a formal-deductive approach, the use of mathematical methods in cases that are not appropriate for this, and access from a closed system position. Heterodoxy is a very diverse theoretical tradition, and there are differences not only between the Left-wing heterodoxy, Neo-Austrian school and New heterodoxy, but also within these heterodox groups. They differ on specific topics they deal with and proposed solutions to socio-economic problems.

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