Financial depth and economic growth - the case of Hungary, the Czech Republic and Poland

2004 ◽  
Vol 54 (3) ◽  
pp. 297-321
Author(s):  
Katalin Mérő
Keyword(s):  
Economic Growth ◽  
Czech Republic ◽  
Financial Intermediation ◽  
Bank Loans ◽  
Eastern European ◽  
Financial Deepening ◽  
The Czech Republic ◽  
Catching Up ◽  
European Economies ◽  
The Relationship

The article focuses on the relationship between economic growth and financial intermediation, with special focus on the process of catching up in three Central and Eastern European economies: Hungary, the Czech Republic and Poland (CEC-3). The depth of financial intermediation and economic growth exhibit a close, direct relationship with each other. According to recent studies the relationship is causal and the level of financial development is a good indicator of future economic growth. Examining the relationship between the two factors is especially important for these Central and Eastern European economies, where the level of financial intermediation is very low compared to that of developed countries. The lack of financial deepening is even more pronounced taking into consideration that there is a significant catching-up process in every other areas of the economy. The initial proposition here is that in order to these countries catching up, their economic growth must necessarily be accompanied by a marked financial deepening, without which long-term economic growth is impossible. It is absolutely necessary that in the future the role of bank loans in these economies increases significantly and that a period characterised by a lending boom follows. The lending boom should occur in CEC-3 is not an unequivocal sign of imprudent lending or a supply-side expansion of bank loans - on the contrary, it should be viewed as complementary to the economic development at the given economic stage.

Financial Intermediation and Growth: Theory and Some Cross-Country Evidence

1997 ◽  
Vol 36 (4II) ◽  
pp. 855-862
Author(s):  
Tayyeb Shabir
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Intermediation ◽  
Empirical Estimates ◽  
Financial Liberalisation ◽  
Cross Country ◽  
Level Of Significance ◽  
The Relationship ◽  
Positive Effect ◽  
Theoretical Developments

Well-functioning financial markets can have a positive effect on economic growth by facilitating savings and more efficient allocation of capital. This paper characterises some of the recent theoretical developments that analyse the relationship between financial intermediation and economic growth and presents empirical estimates based on a model of the linkage between financially intermediated investment and growth for two separate groups of countries, developing and advanced. Empirical estimates for both groups suggest that financial intermediation through the efficiency of investment leads to a higher rate of growth per capita. The relevant coefficient estimates show a higher level of significance for the developing countries. This financial liberalisation in the form of deregulation and establishment and development of stock markets can be expected to lead to enhanced economic growth.

scholarly journals Assigning a Value to Volunteering in Requests for Proposals

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110095
Author(s):  
Jakub Dostál
Keyword(s):  
Czech Republic ◽  
Theoretical Basis ◽  
Economic Value ◽  
European Economic Area ◽  
The Czech Republic ◽  
A Value ◽  
Economic Area ◽  
Different Types ◽  
The Relationship ◽  
Volunteer Time

The economic value of volunteering is an increasingly important part of volunteering management. It has become part of public policies. Some requests for proposals (RFP) enable nonprofits to include the value of volunteer time in compulsory co-financing. These RFP include the European Economic Area (EEA) Grants and Norway Grants. This article addresses the relationship in the value of volunteering, also called in-kind volunteering contributions. The research includes two case studies of finances from EEA and Norway Grants in the Czech Republic: the Czech NGO Programme, responsible for allocating grants between 2009 and 2014, and the Active Citizens Fund, responsible for allocating grants between 2014 and 2021. They share elements through the EEA and Norway Grants rules. However, they use different types of specialist replacement wages. The article summarizes the arguments for including in-kind volunteering contributions. It presents the possible values of these contributions in the selected cases, including the relationship between the type of volunteering and the number of hours necessary to achieve these values. The article defines the theoretical basis for calculating the value of in-kind volunteer contributions and illustrates this with real examples of allocations from EEA and Norway Grants.

A Mistrustful Society?

2020 ◽  
Vol 10 (2) ◽  
pp. 52-71
Author(s):  
Nicole Horáková
Keyword(s):  
Czech Republic ◽  
Empirical Data ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
State Institutions ◽  
Government Institutions ◽  
European Values ◽  
European Values Study ◽  
Eastern European Countries

The level of trust in politicians also in government institutions is taken as an indicator of the state of society in general. Various studies have shown that the population of the Central Eastern European countries, and especially the citizens of the Czech Republic, lack trust in state institutions and democratic structures. The trust of the Czech population in government institutions is, compared to other (Western) European countries, at a relatively low level. This article aims to discuss different factors that are currently influencing this lack of trust: the historical, cultural, and institutional. The empirical data for this article is based on the European Values Study and Czech surveys of public opinion concerning trust in government institutions.

scholarly journals Inclusive Growth in CEE Countries as a Determinant of Sustainable Development

2018 ◽  
Vol 10 (11) ◽  
pp. 3973 ◽  
Author(s):  
Ewa Cichowicz ◽  
Ewa Rollnik-Sadowska
Keyword(s):  
Sustainable Development ◽  
Multivariate Analysis ◽  
Czech Republic ◽  
Transition Economies ◽  
Eastern European ◽  
Inclusive Growth ◽  
Development Research ◽  
The Czech Republic ◽  
Components Analysis ◽  
Eastern European Countries

Pursuant to the concept of inclusive growth, the authors analyze the transition economies of Central and Eastern European countries, which have become EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia, and Slovenia). CEE countries characterized by comparable historic and economic backgrounds now seem to reach diversified stages of development. The objective of the study is to identify the level of inclusive growth among CEE countries by taking into account indicators assigned to its seven pillars. The article’s thesis is that CEE countries represent social and economic heterogeneity as well as varied levels of sustainable development. Research methods included the application of the principal components analysis and the multivariate analysis. For a literature review, the bibliometric analysis was conducted with the visualization prepared by the VOSviewer software. The main findings suggest that Estonia, Slovenia, and the Czech Republic seem to exhibit the highest level of inclusive growth while Bulgaria and Romania represent the lowest level of indicators measured.

scholarly journals The relation and development of expenditure inequality and income inequality of Czech households

2012 ◽  
Vol 57 (192) ◽  
pp. 55-78 ◽  
Author(s):  
Zdeňka Malá ◽  
Gabriela Cervená
Keyword(s):  
Economic Growth ◽  
Czech Republic ◽  
Income Inequality ◽  
Mutual Relationship ◽  
Consumer Expenditure ◽  
Economic Decline ◽  
The Czech Republic ◽  
Main Determinant ◽  
Methodological Tool ◽  
Relationship Of

The paper focuses on an analysis of income inequality and expenditure inequality of households in the Czech Republic for the period 2001 - 2009, based on data from the Statistics of Family Accounts. The basic methodological tool is the Gini coefficient and its decomposition according to individual categories of consumer expenditure. The conducted research reaches the conclusion that income inequality is higher than inequality in consumer expenditure, and income inequality for the analyzed period is growing at a higher rate than expenditure inequality. Tax-transfer tools effectively eliminate income inequality, but nevertheless inequality of disposable income exceeds the inequality of net monetary expenditure. As regards the mutual relationship of income inequality and expenditure inequality, expenditure inequality within a period of economic growth and boom copied the course of income inequality, while within a period of economic decline and recession both inequalities showed a completely different development. The main determinant affecting income inequality may be considered to be non-consumer expenditure, particularly expenditure for the acquisition of real estate.

scholarly journals Regional Branding: Customer’s Experience with the Certified Products

2018 ◽  
Vol 66 (6) ◽  
pp. 1549-1556 ◽  
Author(s):  
Klára Margarisová ◽  
Lucie Vokáčová ◽  
Kateřina Kuralová ◽  
Tomáš Hlavsa
Keyword(s):  
Czech Republic ◽  
Questionnaire Survey ◽  
The Czech Republic ◽  
Agricultural Produce ◽  
Regional Brand ◽  
The Given ◽  
The Relationship

This article focuses on the experience of Czech customers with the purchase of products labelled by the Association of Regional Brands and Bohemian Paradise Association. The aim of this paper is to evaluate selected indicators associated with purchasing certified regional products. The studied characteristics focus on the knowledge and perception of several chosen microregional brands and on the purchase of a certified product itself. The article presents the results of research conducted through a questionnaire survey, whose 1390 respondents are residents as well as visitors of eight different micro‑regions in the Czech Republic. Awareness of regional brands within the sample surveyed is around 46 %. The relationship between awareness of regional brand and respondents’ age, education and status towards the region has been identified. The perception of consumers considered, a brand is most often associated with tangible products, namely food and agricultural produce. Consumers view brands chiefly as a guarantee of production in the given region and a certain tradition. Most often, the respondents take notice of brands on the packaging of a particular certified product.

scholarly journals Inclusive Growth of the CEE Countries as a Determinant of Sustainable Development

2018 ◽  
Author(s):  
Ewa Cichowicz ◽  
Ewa Rollnik-Sadowska
Keyword(s):  
Sustainable Development ◽  
Czech Republic ◽  
Transition Economies ◽  
Eastern European ◽  
Inclusive Growth ◽  
The Czech Republic ◽  
Economic Background ◽  
Components Analysis ◽  
Eastern European Countries ◽  
Different Levels

Referring to the concept of inclusive growth, the authors analyse the transition economies of the Central and Eastern European countries, which are the current EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia and Slovenia). That region was selected as the CEE countries characterized by comparable historic and economic background but now they seem to reach diversified stages of development. The objective of the study is to identify the level of inclusive growth among the CEE countries, taking into account indicators assigned to its seven pillars. The thesis is that the CEE countries represent socio and economic heterogeneity as well as different levels of sustainable development. The research methods involved the application of the principal components analysis and the multivariate analysis. For literature review, the bibliometric analysis was conducted with the visualization prepared by the VOSviewer software. The main findings suggest that Estonia, Slovenia and the Czech Republic seem to be the ones with the highest inclusive growth. On the other hand, Bulgaria and Romania represent the lowest level of inclusive growth indicators.

scholarly journals Controversial approach to wolf management in the Czech Republic

2021 ◽  
Vol 67 (No. 1) ◽  
pp. 1-10
Author(s):  
Jana Lososová ◽  
Jindřiška Kouřilová ◽  
Nikola Soukupová
Keyword(s):  
Czech Republic ◽  
Population Density ◽  
Preventive Measures ◽  
Management Programme ◽  
Wolf Population ◽  
Public Funds ◽  
The Czech Republic ◽  
Wolf Management ◽  
Key Issues ◽  
The Relationship

Expansion of the wolf in the Czech Republic results in an increasing conflict between nature conservationists and other landscape users. In March 2020, the Ministry of the Environment of the Czech Republic issued the "Wolf Management Programme". The document provoked negative reactions from organisations of farmers, breeders, and hunters. The article deals with the key issues triggered by the conflict and the attitudes of actors involved. We want to clarify to what extent the solutions designed by individual parties help to mitigate the conflict and how the financial demands related to this issue have been evolving. The problem may seem marginal in the Czech Republic, but the wolf population density in some regions may already be close to its bearable maximum. Key problems are the identification of specific target numbers of wolves, the absence of zoning as a future option, and clear rules for dealing with direct encounters of wolves with humans. The benefit of wolf management is primarily the sum of preventive measures it aims to address, but the relationship with other main actors and the area of education and promotion is debatable as it represents a further increase in the absorption of public funds without guarantees of effectiveness.

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