scholarly journals The quality of public finance in the light of fiscal governance concept: implications for the European Union countries

Equilibrium ◽  
2018 ◽  
Vol 13 (3) ◽  
pp. 411-426
Author(s):  
Aneta Kargol-Wasiluk ◽  
Anna Wildowicz-Giegiel
Keyword(s):  
Public Finance ◽  
Descriptive Analysis ◽  
Value Added ◽  
Principal Component ◽  
Research Area ◽  
Point Of View ◽  
Fiscal Rules ◽  
The European Union ◽  
The Eu

Research background: The research area on the quality of public finance (QPF) appears to be intellectually attractive. In the light of the challenges of the 21st century, public finance should be characterized by adequate quality, ensuring effective implementation of the economic functions of government. The problem of QPF is increasingly more frequent in the face of a deteriorating fiscal situation of most countries in Europe and around the world. Hence, it is worth considering which factors determine the quality of public finance. Purpose of the article: This article aims to show the possibility of assessing the quality of public finance in the light of fiscal governance concept.  The identification of the key components of QPF seems to be useful from the point of view of empirical research, and can be implemented to assess the quality of public finance in the EU–28. Methods: Descriptive analysis along with principal component analysis (PCA) was implemented to indicate dimensions of QPF. Findings & Value added: The quality of public finance consists of a well-designed fiscal rules (numerical and non-numerical) and institutions, as well as structural reforms. The obtained results allow to characterize the quality of public finance through the prism of six identified principal components. They have a mixed character, two of them are partly or totally related to the institutional aspects of public finance, which proves their importance in the process of improving the quality of public finance. Improving the quality of public finance remains a key challenge for policy makers in the EU. The growing impact of globalization and the aging population also cause the need to improve the qualitative aspects of fiscal policy. The study contributes to the literature on public finance, particularly in the empirical dimension through broadening the knowledge on institutional factors which can be used to measure QPF index. The results of research have certainly enriched the existing knowledge on the phenomenon of QPF and the ways of its measurement.

scholarly journals National fiscal frameworks in the post-crisis European Union

Equilibrium ◽  
2018 ◽  
Vol 13 (4) ◽  
pp. 623-642
Author(s):  
Agata Szymańska
Keyword(s):  
Public Finance ◽  
European Union ◽  
Value Added ◽  
Fiscal Rules ◽  
Agglomerative Clustering ◽  
Clustering Method ◽  
Public Finances ◽  
Eu Countries ◽  
The Eu ◽  
Fiscal Frameworks

Research background: The latest economic and financial crisis has seriously injured European Union Member States, affecting the condition of their public finances. In the face of the crisis, the EU made a special effort to increase the effectiveness of national fiscal frameworks, e.g. by improving the compliance with legislation. The post 2009 reforms were aimed at providing a solid economic foundation for the national fiscal frameworks, especially in the high-debt euro area countries. Purpose of the article: The goal of this research is twofold. Firstly, it aims to provide an outline of the national fiscal governance in the EU. Secondly, the paper analyzes the changes in the core measures of fiscal governance in the EU between the crisis period and the year 2016 (due to the latest available data) and investigates the similarities in the progress made by the 28 EU countries in restoring balance in public finance. Methods: To achieve the goal, the literature review and the analysis of core elements of national fiscal frameworks are provided. In the empirical section the grouping method for all 28 EU countries based on the Ward's agglomerative hierarchical clustering method is employed. The study uses data derived from the AMECO database (in the case of fiscal data) and the European Commission thematic data for quality indexes of particular elements of fiscal governance (numerical fiscal rules, medium-term budgetary frameworks and independent fiscal institutions). Findings & Value added: This paper contributes to the literature by, on the one hand, attempting to analyze changes in main fiscal governance measures and, on the other hand, by assessing their link with public finance through employment of the agglomerative clustering method. Based on the results, the conclusion about the importance of the improvement in fiscal frameworks is provided. The analysis shows that countries with better national fiscal framework achieved better results in public finances regardless the macroeconomic conditions.

scholarly journals The dimensions of fiscal governance as the cornerstone of public finance sustainability: A general framework

2014 ◽  
Vol 26 (1) ◽  
pp. 94-139 ◽  
Author(s):  
Alessandro Giosi ◽  
Silvia Testarmata ◽  
Sandro Brunelli ◽  
Bianca Staglianò
Keyword(s):  
Public Finance ◽  
European Union ◽  
Fiscal Policy ◽  
General Framework ◽  
European Countries ◽  
The European Union ◽  
Eu Countries ◽  
National Governments ◽  
The Eu

Recently many European countries have incurred crises in public finance despite the fact that EU institutions have pushed the national governments toward the sustainability of public finance with compulsory and voluntary rules regarding fiscal governance. This paper investigates the relations between the quality of fiscal governance and the financial virtuosity of national fiscal policy. We proposed a general framework for analyzing the fiscal governance issue and we empirically tested the correlation between the dimensions of fiscal governance and the budgetary performance of EU countries. The results showed a positive correlation between the quality of fiscal governance in the EU countries and financial surplus in the period concerned. However further investigations are needed and an effort should be made to collect uniform data on fiscal governance in the European Union.

scholarly journals Non-metropolitan Industrial NUTS 3 Sub-regions in the European Union – Identification and Typology

2016 ◽  
Vol 30 (2) ◽  
pp. 55-71
Author(s):  
Jacek Sołtys ◽  
Sławomir Dorocki
Keyword(s):  
Principal Component Analysis ◽  
Cluster Analysis ◽  
Metropolitan Areas ◽  
Value Added ◽  
Principal Component ◽  
Common Phenomenon ◽  
The European Union ◽  
The Subject ◽  
Per Capita ◽  
The Eu

A common phenomenon of development is the big difference in its levels, especially between metropolitan and non-metropolitan areas. Non-metropolitan areas are also very different. In some of them, industry plays a big role. European Union’s NUTS 3 non-metropolitan low developed sub-regions, whose gross domestic product per capita in 2011 was below 75% of the EU average, were the subject of research. It is based on the data and Principal Component Analysis used for the typology of 319 sub-regions prepared in 2014. The purposes of the research presented were to identify industrial sub-regions among aforementioned sub-regions, to investigate their diversity and to recognize more detailed sub-regions with the most developed industry. There was also a methodological purpose: to verify a concept for taking into account the weight of principal component in grouping sub-regions into types. As many as 53 sub-regions, in which the rate of gross value added in industry (in %) is 3 times bigger than average in the whole set of the sub-regions examined (that is more than 35%) were defined as industrial. Typology for these sub-regions was made by the cluster analysis using hierarchical method and grouping sub-regions into four types. More detailed characteristics of some sub-regions is the last part of this work.

scholarly journals The Innovation Gap between the Polish Economy and the European Union

2020 ◽  
Vol 23 (3) ◽  
pp. 63-73
Author(s):  
Edyta Dworak
Keyword(s):  
European Union ◽  
Statistical Data ◽  
Descriptive Analysis ◽  
Developed Countries ◽  
The European Union ◽  
European Union Countries ◽  
Innovative Economy ◽  
Polish Economy ◽  
The Eu

Knowledge and innovations are considered to be among the most important factors that determine the pace and quality of economic growth. Therefore, Poland is facing a serious challenge to effectively transform its economy into an innovative economy capable of competing with the most developed countries. The aim of the paper is to present the results of analysis aimed at estimating the innovation gap between Poland and the European Union countries on the basis of the Summary Innovation Index (SII), which was developed by the European Commission within the European Innovation Scoreboard (EIS) in the years 2010–2018. It reviewed the literature on the innovativeness of economies and the innovation gap. Descriptive analysis, statistical data analysis and comparative analysis methods were applied. Statistical data from the European Innovation Scoreboard 2019 were used. The paper formulates a research thesis that assumes that the level of innovativeness of the Polish economy in the analyzed period remained at a lower level than the EU average and therefore there is still an innovation gap between the Polish economy and the average for European Union countries. The results of the analysis confirm this thesis.

Austrian Veto against European Union Membership Negotiations with Turkey

2020 ◽  
Vol 8 (1) ◽  
pp. 103-122
Author(s):  
Ewa Kaczan-Winiarska
Keyword(s):  
European Union ◽  
European Commission ◽  
Security Policy ◽  
Negotiation Process ◽  
Point Of View ◽  
The European Union ◽  
Strategic Partner ◽  
Key Factor ◽  
European Standards ◽  
The Eu

The Austrian government is extremely sceptical about the accession negotiations which are conducted by the European Commission on behalf of the European Union with Turkey and calls for the negotiation process to end. Serious reservations of Vienna have been raised by the current political situation in Turkey under the rule of President Recep Tayyip Erdogan, as well as by the standards of democracy in Turkey, which differ greatly from European standards. Serious deficiencies in rule of law, freedom of speech and independence of the judiciary, confirmed in the latest European Commission report on Turkey, do not justify, from Vienna’s point of view, the continuation of talks with Ankara on EU membership. In fact, Austria’s scepticism about the European perspective for Turkey has a longer tradition. This was marked previously in 2005 when the accession negotiations began. Until now, Austria’s position has not had enough clout within the European arena. Pragmatic cooperation with Turkey as a strategic partner of the EU, both in the context of the migration crisis and security policy, proved to be a key factor. The question is whether Austria, which took over the EU presidency from 1.7.2018, will be able to more strongly accentuate its reservations about Turkey and even build an alliance of Member States strong enough to block Turkey’s accession process.

scholarly journals Sounding out falsified medicines from genuine medicines using Broadband Acoustic Resonance Dissolution Spectroscopy (BARDS)

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Anas Alfarsi ◽  
Céline Caillet ◽  
Garry Fawbert ◽  
Simon Lawrence ◽  
Jacob Krüse ◽  
...  
Keyword(s):  
Active Ingredient ◽  
Lower Cost ◽  
Principal Component ◽  
Acoustic Resonance ◽  
South East Asia ◽  
Acoustic Signatures ◽  
Falsified Medicines ◽  
Acoustic Phenomenon ◽  
The Eu

AbstractThe trade in falsified medicine has increased significantly and it is estimated that global falsified sales have reached $100 billion in 2020. The EU Falsified Medicines Directive states that falsified medicines do not only reach patients through illegal routes but also via the legal supply chain. Falsified medicines can contain harmful ingredients. They can also contain too little or too much active ingredient or no active ingredient at all. BARDS (Broadband Acoustic Resonance Dissolution Spectroscopy) harnesses an acoustic phenomenon associated with the dissolution of a sample (tablet or powder). The resulting acoustic spectrum is unique and intrinsic to the sample and can be used as an identifier or signature profile. BARDS was evaluated in this study to determine whether a product is falsified or genuine in a rapid manner and at lower cost than many existing technologies. A range of genuine and falsified medicines, including falsified antimalarial tablets from south-east Asia, were tested, and compared to their counterpart genuine products. Significant differences between genuine and falsified doses were found in their acoustic signatures as they disintegrate and dissolve. Principal component analysis was employed to differentiate between the genuine and falsified medicines. This demonstrates that the tablets and capsules included here have intrinsic acoustic signatures which could be used to screen the quality of medicines.

scholarly journals Characteristics of Plastic Waste Processing in the Modern Recycling Plant Operating in Poland

Energies ◽  
2020 ◽  
Vol 14 (1) ◽  
pp. 35
Author(s):  
Elżbieta Szostak ◽  
Piotr Duda ◽  
Andrzej Duda ◽  
Natalia Górska ◽  
Arkadiusz Fenicki ◽  
...  
Keyword(s):  
Distillation Column ◽  
Solid Particles ◽  
Fuel Quality ◽  
Waste Processing ◽  
The European Union ◽  
Recycling Process ◽  
Heat Demand ◽  
Fuel Components ◽  
The Eu

Although Poland is one of the leading recipients of the waste stream in the European Union (EU), it is at the same time below the average in terms of efficiency of their use/utilization. The adopted technological solutions cause waste processing rates to be relatively low in Poland. As a result, the report of the Early Warning and Response System (EWRS) of the EU indicated Poland as one of the 14 countries of the EU which are at risk in terms of possibility of achieving 50% recycling of waste. This article discusses the implemented technological solutions, and shows the profitability of the investment and the values of the process heat demand both for extractor and reactor. The experimental part analyzed the composition of the input and output of the process and compared it to the required fuel specifications. Attention was drawn to the need to improve the recycling process in order to increase the quality of manufactured fuel components. As potential ways of solving the problem of low fuel quality, cleaning the sorted reaction mass from solid particles and extending the technological line with a distillation column have been proposed. The recommended direction of improvement of the technology is also the optimization of the process of the reactor’s purification and removal of contaminants.

TRENDS IN THE FORMATION OF POLAND'S ENERGY POLICY IN THE FUEL AND ENERGY SECTOR OF THE EU COUNTRIES

2021 ◽  
Vol 2 (11) ◽  
pp. 167-173
Author(s):  
Mihail V. Rybin ◽  
◽  
Alexander A. Stepanov ◽  
Nadezhda V. Morozova ◽  
◽  
...  
Keyword(s):  
European Union ◽  
Energy Policy ◽  
Energy Sector ◽  
Green Energy ◽  
Point Of View ◽  
The European Union ◽  
The Russian Federation ◽  
Regional Programs ◽  
The Eu ◽  
Fuel And Energy Sector

The article reveals and analyzes conceptual approaches to the formation of strategic directions of energy policy of the European Union and Poland in the first decades of the XXI century. A critical assess-ment is given from the point of view of international cooperation in the field of energy between the Russian Federation, Poland and the EU as a whole and, in particular, European, national and regional programs for the transformation of the fuel and energy sector in the conditions of decarbonization and transition to green energy.

scholarly journals An Assessment of Carousel Value-Added Tax Fraud in The European Carbon Market

2017 ◽  
Vol 13 (2) ◽  
Author(s):  
Maria Berrittella ◽  
Filippo Alessandro Cimino
Keyword(s):  
Computable General Equilibrium ◽  
Emission Trading ◽  
Value Added ◽  
Carbon Market ◽  
Eu Ets ◽  
The European Union ◽  
Value Added Tax ◽  
Member States ◽  
Eu Member States ◽  
The Eu

AbstractThe literature on the European Union Emission Trading System (EU ETS) is by now very rich. Much is known about the efficiency, the effectiveness, and the environmental and distributional impacts of the EU ETS. Less, however, is known about the carousel value-added-tax (VAT) fraud phenomena in the European carbon market. This article evaluates the welfare effects of carousel VAT fraud in the EU ETS using a computable general equilibrium (CGE) analysis. According to our findings, if VAT fraud occurs in the EU ETS, the effects on welfare for the EU Member States are negative, with welfare loss significantly higher than the VAT fraud value. This article also discusses the reverse charge mechanism that EU Member States could adopt to reduce the VAT fraud phenomena in the European carbon market.

scholarly journals THE INFLUENCE OF THE INTEGRATION IN THE EUROPEAN UNION ON THE ROMANIAN FISCAL LEGISLATION

2008 ◽  
pp. 56
Author(s):  
Mircea Muntean ◽  
Doina Pacurari
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Negative Impact ◽  
Value Added ◽  
The European Union ◽  
European Directives ◽  
Eu Directives ◽  
Dividend Tax ◽  
Excise Duties ◽  
The Eu

Fiscal policy constitutes – within the state's economic policy – a system by means of which the taxes and duties owed to the country's consolidated budget are established and collected. Taking into account the role fiscal policy has been playing since Romania's admission in the European Union, one of the goals ceaselessly looked for is its adapting to the international community's acquis through the implementation of the European directives in our context. The EU directives make reference to direct taxes: dividend tax, interest income tax, assets transfer, shares exchange, income taxation for the non-residents, and so on, along with the indirect taxes: value-added tax, excise duties, etc. The paper approaches the main provisions within the contents of the European directives as well as the means of their implementation in the Romanian fiscal legislation regarding various types of taxes. The implementation of the European directives has been simultaneous with the establishing of measures concerning fiscal fraud prevention, frauds liable to have a negative impact on the state's consolidated budget.

Sign in / Sign up

Export Citation Format

Share Document