scholarly journals Bilateral Trade By Products Between the V4 Countries and China in Years 2009–2019

2021 ◽  
Vol 66 (4) ◽  
pp. 463-482
Author(s):  
Sylwia Pangsy-Kania
Keyword(s):  
International Trade ◽  
Czech Republic ◽  
Bilateral Trade ◽  
Inductive Inference ◽  
Slovak Republic ◽  
Annual Data ◽  
Starting Point ◽  
Inference Methods ◽  
Visegrad Group ◽  
By Products

Abstract Subject and purpose: Using annual data for the periods 2009–2019, this paper examines trade flows between China and the Visegrad Group countries. The aim of this article is to assess real changes taking place in international trade in the Visegrad Group countries (V4) over the last eleven years. The starting point for the analysis was 2009 – the time after the 2008 economic crisis, and it was compared especially to 2018 – a year marked by a significant improvement in the economy. The purpose is to discuss concerns related to the differences in bilateral trade between China and Poland, Czech Republic, Hungary, and Slovak Republic. The main aim of this research is to distinguish the characteristics of bilateral trade by products between V4 and China in years 2009–2019. The purpose of this article is also to systematize and discuss points of view, rationalizing further empirical research. Two research hypotheses, resulting from the research purpose, were formulated: H1: in the V4 countries import exceeds export, and this trend seems to be growing, H2: Chinese goods imported to the V4 are much more sophisticated than those exported. Design/Methodology/Approach: To assess the initial and current situation on international trade between the V4 and China, the author uses variables obtained from WTO and OEC resources, diagnosing the situation in Poland, Czech Republic, Hungary, and Slovak Republic. The collected empirical data were processed using theoretical methods such as analysis, synthesis, and comparison to formulate conclusions using deductive and inductive inference methods. Practical Implications: The results can be used in scientific and expert work on diagnostic and forecast trends in bilateral trade by products between the V4 and China. Originality/Value: It concerns the indication of the importance of the V4 trade with China compared to the share of the V4 countries in world trade. It was also possible to identify the top export and import products of the V4. The findings also confirm the significant change in China’s trading structure.

scholarly journals Assessment of the use level of direct mail in the V4 countries

2009 ◽  
Vol 57 (6) ◽  
pp. 169-178
Author(s):  
Ľudmila Nagyová ◽  
Patrik Rovný ◽  
Jana Stávková ◽  
Ľudmila Majchrovičová
Keyword(s):  
Czech Republic ◽  
Slovak Republic ◽  
Direct Marketing ◽  
Answer Sheet ◽  
Direct Mail ◽  
Purchasing Decisions ◽  
The Czech Republic ◽  
Mass Marketing ◽  
Visegrad Group ◽  
E Mail

The aim is to assess the possibilities of future developments of Direct Marketing in the Visegrad group. Particular attention is paid to the fact that even when there is a single political grouping of states, which between them reported psychological closeness, there are differences between them, to be taken into account. Significant differences are primarily in consumer attitudes and preferences, their purchasing decisions as well as acceptance of the various tools of communication mix.Direct Marketing is form of marketing communication aimed on exact selection of target group and its effective addressing. Contrary to the Mass Marketing, each customer is addressed individually and directly, and databases of potential or regular customers are used. One form of Direct Marketing is Direct Mail. It is the oldest and most advanced tool of Direct Marketing. Also called mailing, it is the most important tool of Direct Marketing.The country with the highest amount of delivered mailings is Czech Republic. Up to 82% of respondents indicated that Direct Mail receives often or very often. In Slovak Republic, Poland and the Czech Republic, more than half of respondents read the received mailings only occasionally. Significantly overwhelming majority of Slovaks, Czechs and Poles responds to the delivered mailings by checking out the sender’s web site firstly, or establishing the contact via e-mail. Hungarian respondents prefer answer sheet the most.

scholarly journals Comparative Analysis of Financing for Small and Medium-Sized Enterprises in the Visegrad Group

2021 ◽  
Vol 92 ◽  
pp. 06041
Author(s):  
Veronika Vrablova
Keyword(s):  
Czech Republic ◽  
Comparative Analysis ◽  
National Economy ◽  
Slovak Republic ◽  
Value Added ◽  
Bank Loans ◽  
Access To Finance ◽  
The Czech Republic ◽  
The World ◽  
Visegrad Group

Research background: Small and medium-sized enterprises form the backbone of any national economy. Therefore, sources of financing are important for the enterprise´s growth around the world. Finance for enterprises can be divided into classic and alternative. Recently, alternative ways of financing experienced a boom, especially venture capital, business angels, and crowdfunding. Although this type of funding is well known around the world, there are difficulties in using alternative financing among the Visegrad group. Moreover, there are lots of other factors curbing the expansion of enterprises. Purpose of the article: The purpose of this paper is to identify and compare sources of financing for small and medium-sized enterprises among the Visegrad group with focus on alternative financing. Visegrad group consists of the Slovak Republic, the Czech Republic, the Hungary, and the Poland. This paper presents an overview of available financing for small and medium-sized enterprises among the Visegrad group. Methods: For analysis, we used data from the the Survey on the access to finance for enterprises in 2019. Moreover, we also did hypothesis testing to compare the usage of financing through bank overdraft in the year 2019. Findings & Value added: We have reached several conclusions. Firstly, this paper suggests that classic sources of financing are used more than alternative ways, from which the bank loans and leasing are used the most. Secondly, the best condition of financing among countries of the Visegrad group is in Poland, but also other countries have huge potential. And finally, financing of enterprises is not the main issue causing difficulties in making business.

scholarly journals The Machine Prediction of the Mutual Trade between the PRC and the Czech Republic in the Global Extraordinary Situation

2021 ◽  
Vol 92 ◽  
pp. 09006
Author(s):  
Jakub Horak ◽  
Jiri Kucera
Keyword(s):  
Time Series ◽  
International Trade ◽  
Czech Republic ◽  
Bilateral Trade ◽  
Trade Flow ◽  
Value Added ◽  
The Czech Republic ◽  
Mutual Trade ◽  
Bilateral Trade Flow ◽  
The Usa

Research background: International trade is a substantial constituent of the global and regional economic development. The analysis of mutual trade serves as a tool for a monetary expression of economic transactions between a particular country and its foreign partners for a specific period. For the Czech Republic (CR), the People’s Republic of China (PRC) is the biggest exporter and the second biggest importer. The USA, however, imposes a number of economic sanctions against the PRC that do not have any significant impact on the trade between both countries and the overall growth of the Chinese economy, yet they affect the behavior of consumers and producers both in the USA and in the PRC. Purpose of the article: The aim of this paper is to use machine learning for predicting the future values of the mutual trade between the CR and the PRC for one calendar year (i.e. 12 months). Methods: Monthly data of these two states´ import and export are used to predict bilateral trade flow. The time series begins in January 2005 and ends in April 2020. Thus, the time series contains 184 data lines. Artificial intelligence - artificial neural networks - is used to predict bilateral trade flow between the PRC and the CR. The development of trade is then compared with the mutual sanctions of the PRC and the USA. Findings & Value added: This is expected that the mutual trade balance to be negative from the perspective of the CR. COVID-19 or the sanctions imposed in the international trade will not significantly affect the development of the mutual trade between the CR and the PRC.

scholarly journals The Energy Transition in the Visegrad Group Countries

Energies ◽  
2021 ◽  
Vol 14 (8) ◽  
pp. 2212
Author(s):  
Ewelina Kochanek
Keyword(s):  
Renewable Energy Sources ◽  
Mining Industry ◽  
Energy Transition ◽  
Green Energy ◽  
Political Elite ◽  
Energy Transformation ◽  
Diagnostic Features ◽  
Difficult Situation ◽  
Starting Point ◽  
Visegrad Group

The aim of the research is to analyse the energy transition in the Visegrad Group countries, because they depend on the production of energy from the burning of fossil fuels, and transition is a huge challenge for them. The diversity of the energy transformation in the V4 countries was examined by using two qualitative methods, including literature analysis and comparative analysis. The timeframe of the study was set for the period from 2020 to 2030, as these years are crucial for the implementation of the European Green Deal Programme. Four diagnostic features were taken into account in the analysis: the share of RES in final energy consumption, reduction of CO2 emissions in the non-Emissions Trading System (ETS) sector, date of withdrawal of coal from the economy, and energy efficiency. The analysis shows that the V4 countries have different approaches and levels of energy transformation in their economies. Poland is in the most difficult situation, being the most dependent on the production of electricity from coal, as well as having the largest number of employees in the coal and around coal sector. The other countries of the group can base their transformation on nuclear energy, as each of them has at least four such power units. The increased use of biomass for energy and heat production is the most important stimulus for Renewable Energy Sources (RES) growth in the analysed countries. The ambivalent attitude of the political elite to unconventional sources in the four analysed countries significantly hinders the development of certain forms of green energy. However, it has been observed that an increasing proportion of the population, especially those living in regions of the country where there is no fossil fuel mining industry, has a positive attitude towards energy transformation. The study is the first that shows the state of involvement in the process of systemic change of the Visegrad Group countries. The results can serve as a starting point for understanding the reticence of this group of European countries towards the transformation phenomenon, as well as contributing to further research on the implementation of closed-circuit economies in the Visegrad Group countries.

scholarly journals Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact

2021 ◽  
Vol 13 (10) ◽  
pp. 5418
Author(s):  
Nashwan M. A. Saif ◽  
Jianping Ruan ◽  
Bojan Obrenovic
Keyword(s):  
International Trade ◽  
Bilateral Trade ◽  
Production Costs ◽  
Research Directions ◽  
Economic Distance ◽  
Conceptual Paper ◽  
Sudden Decrease ◽  
Further Development ◽  
Conceptual Research

The conceptual research aims to identify antecedents conducive to bilateral trade during the COVID-19 pandemic. Considering the relevance of bilateral trade for foreign policy and economy studies, there is a need for a renewed framework in times of extreme economic instability. As international commerce is essential for improving the country’s economy, we have examined how economic distance, population, trade percentage of GDP, exchange rate, and political changes interconnect and relate to COVID-19, influencing trade flows. This conceptual paper illustrates the likely impact of COVID-19 on international trade by exploring pandemics’ effects on standard trading parameters such as GDP, distance, policy stability, and population. We model the resulting shock as a multifaceted variable reflected in capital underutilization, manufacturing output decline, international trade costs inflation, production costs inflation, decrease in demand for certain services and shift from everyday needs towards activities that exclude the proximity between people, e.g., proclivity towards virtual market products. The sudden decrease in GDP and bilateral trade, as well as FDI, is amplified by further development of pandemics’ long-term consequences. We take COVID-19 to be a technological, financial, and policy shock significantly influencing international trade and economic development and argue that it will have a varying impact on diverse sectors and economies. The paper offers preliminary insight into the pandemic-related economics that are unfolding and deduce recommendations on positive changes in trading policy to fully leverage on arising trading opportunities and point to potential research directions.

scholarly journals A Reappraisal of the Prebisch-Singer Hypothesis Using Wavelets Analysis

2021 ◽  
Vol 14 (7) ◽  
pp. 319
Author(s):  
Hany Fahmy
Keyword(s):  
International Trade ◽  
Structural Breaks ◽  
Developing Economies ◽  
Commodity Prices ◽  
Commodity Price ◽  
Data Set ◽  
Price Series ◽  
Long Run ◽  
Starting Point ◽  
The Impact

The Prebisch-Singer (PS) hypothesis, which postulates the presence of a downward secular trend in the price of primary commodities relative to manufacturers, remains at the core of a continuing debate among international trade economists. The reason is that the results of testing the PS hypothesis depend on the starting point of the technical analysis, i.e., stationarity, nonlinearity, and the existence of structural breaks. The objective of this paper is to appraise the PS hypothesis in the short- and long-run by employing a novel multiresolution wavelets decomposition to a unique data set of commodity prices. The paper also seeks to assess the impact of the terms of trade (also known as Incoterms) on the test results. The analysis reveals that the PS hypothesis is not supported in the long run for the aggregate commodity price index and for most of the individual commodity price series forming it. Furthermore, in addition to the starting point of the analysis, the results show that the PS test depends on the term of trade classification of commodity prices. These findings are of particular significance to international trade regulators and policymakers of developing economies that depend mainly on primary commodities in their exports.

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