Situation of the R&D Sector in Poland in the Face of the Current Crisis

How has the current crisis caused by the COVID-19 pandemic affected R&D and innovation in Poland? Numerous international studies conducted after the Great Depression in 2008–2010 show a strong procyclicality of investments in R&D and innovation in companies: investments rise during the economic upturn and fall sharply during the crisis. This procyclicality is driven within firms both by internal financial resources and by differences in market incentives to innovate. It seems likely that the COVID-19 crisis caused financial weakness for many actors, having the most significant impact on the willingness or ability of smaller firms to support R&D and innovation. However, where firms are able to sustain these investments, evidence from the crisis a decade ago suggests that they will be more likely to survive, grow more strongly, and have higher profitability. Based on the analysis of the literature and macroeconomic data, this paper presents several recommendations that, if implemented by R&D actors, could help increase the efficiency of operations, even in times of crisis.

ANALYSIS OF FIELDWORK OF EXPEDITIONS AND TEAMS FROM THE MOSCOW BRANCH OF THE INSTITUTE FOR THE HISTORY OF MATERIAL CULTURE / INSTITUTE OF ARCHAEOLOGY, USSR ACADEMY OF SCIENCES, IN 1945-1964

В статье представлен обзор и анализ работ полевых экспедиций московского отделения центрального археологического учреждения страны - Института истории материальной культуры / Института археологии АН СССР в первые два послевоенных десятилетия. Этот период истории страны характеризуется общим восстановлением после трагедий войны в 1940-е - начале 1950-х гг., активным экономическим подъемом во время «оттепели», что прямым образом сказывается на организации полевых работ столичными археологами. Основой для анализа стала национальная карта «Археологические памятники России», материалами для создания которой выступают научные отчеты, хранящиеся в Научно-отраслевом архиве ИА РАН. В качестве дополнительных сведений привлекаются документы из фонда внутренней документации Института (приказы по экспедициям). Подобный подход позволил наметить и продемонстрировать тенденции и основные направления научных интересов сотрудников ИИМК/ИА. The paper provides an overview and analysis of the field expeditions organized by the Moscow Branch of the country's central archaeological institute - the Institute for the History of Material Culture/Institute of Archaeology, USSR Academy of Sciences -during the first postwar decades. This period in the country's history is characterized by rebuilding of the country in the 1940s - early 1950s after the war tragedies, and economic upturn during the thaw period which directly influenced the organization of fieldwork by archaeologists from the capital. The analysis was driven by the efforts to compile a national map of Archaeological Sites of Russia using the excavation reports from the Scientific Archives of the Institute of Archaeology, RAS. Documents from the internal documentation archive (directives related to the expeditions) were used as additional information. This approach helped identify and describe the trends and the main areas of research conducted by the Institute for the History of Material Culture / Institute of Archaeology.

EVALUATION OF THE LEVEL OF SHADOW ECONOMY IN LITHUANIAN REGIONS

The article addresses a topical issue which is extremely relevant in crisis periods – evaluation of the level of the shadow economy in all Lithuanian regions. By applying the MIMIC modelling, three equations were developed for three different periods: economic upturn, economic downturn (crisis) and economic recovery. The number of immigrants, employment rate and population’s density were identified as the major shadow economy determinants in Lithuanian regions. The determinants identified are unique in the case of Lithuania because they reveal that the labour market (employment rate, the number of immigrants) and population’s density are the key factors that show how municipalities address the issues of the shadow economy. 10 municipalities with respectively high or low levels of the shadow economy were ranked for each period under consideration. The maps developed for different periods illustrate the general trends of the evolution of the shadow economy. This is the first study that estimates the size of the shadow economy in 60 municipalities (a small regional division) with different economic periods taken into account. Scientific novelty manifests through consideration of the regional shadow economy and proving significance of the labour market and immigration in reducing regional disparities.

Education as a factor of life and career success of the Russians

The problem of studying education, values of education, and educational potential of the Russians is relevant in the current context, when professional, continuing education, and self-education become the intrinsic elements of modern life. Education is the factor of achieving life and career success, a crucial competitive advantage on the job market, opens career growth opportunities, such as prestigious and top-paying job. It plays one of the key roles in social development and ensuring economic upturn of the country. The subject of this research is education within the structure of factors of life and career success. The goal lies in the analysis of education as the factor of success of the Russians. As a result of theoretical analysis, the author offers the original structural model of life and career success, new empirical data on education within the structure of values of the youth, as well as materials of qualitative research on life and career success among youth. The conducted analysis demonstrates that education, including higher education, does not hold the leading position within the structure of values of Russian youth, yielding to family, health and material well-being. It is neither among the top factors of life success. At the same time, Russian youth agree to the fact that education contributes to career growth. Young people rate the knowledge high and are willing to give their best for decent education. Self-education, lifelong learning expands the career-building opportunities, allows getting a prestigious and top-paying job. At the same time, professional success requires personal efforts of the individual and fulfillment of their potential. Certain role in this process is played by the system of useful social contacts. The current socioeconomic situation in the country also affects education and educational plans of youth.

"Replika Endemi" Resistensi PSAK 71 Sebagai Countercylical Terhadap Sustainability Perbankan Ditengah Pandemi

Financial reports are important because they are useful for providing an overview for stakeholders in their decision making. Where in the preparation of financial statements the main regulation used is the Statement of Financial Accounting Standards (PSAK) established by the Indonesian Institute of Accountants (IAI) through the Financial Accounting Standards Board (DSAK). In the current status quo of Indonesia in facing the Covid-19 pandemic, the existence of PSAK has begun to be tested, adjustments must be made to financial accounting standards which are useful to strengthen the lines of corporate accountability in Indonesia and are able to answer the main urgency of Indonesia today, namely the weakening of the country's economy. The purpose of this paper is to produce a framework that can later become an alternative for banks in making decisions for implementing the PSAK 71 post model. The approach used in this paper is a qualitative approach by providing arguments and solutions for Indonesia's current economic conditions through the resulting framework design. After considering the aspects that affect the risk of bad credit, the conclusion is that PSAK 71 is able to trigger an economic upturn in Indonesia, because in its implementation it does not necessarily look at one aspect only but considers other aspects in responding to issues related to bad credit. Keywords: PSAK 71, Post Model Framework, Bad Credit, Indonesian Economy

Mindset as a value-related and conceptual factor of economic development of post-colonial states

The authors substantiate connection between the mindset and the state of social and economic development of post-colonial states which allowed to elucidate some of still underinvestigated cause and effect relations between the spiritual world of a nation and economic and industrial relations objectified within the social processes. By the example of 20 post-colonial states, it has been proven that economic prosperity became possible in the societies mentally oriented towards individualism. Mindset is a dynamically alterable value-related and conceptual «core» of the nation. Depending on how far the society is prepared to undergo changes and consciously assert its own subjective identity, will it ensure whether the colonial past would become its death «sentence» or a «launch platform» for its subsequent economic upturn.

CANONICAL VARIATE ANALYSIS APPLIED TO DETERMINE FACTORS INFLUENCING THE FINANCIAL SITUATION OF FEED ENTERPRISES

The purpose of this study was to present the factors that determine the financial situation of feed enterprises under different economic conditions. In the pursuit of its main objective, this paper also identifies enterprises which share similar financial characteristics. The goals defined above were sought with the use of canonical analysis. The variables used in the analysis were calculated based on the financial performance figures of feed enterprises carrying out economic activity in 2008-2013 on a continuous basis and delivering complete financial statements throughout that period. Their financial standing was assessed with indicators that allow to describe corporate operations in all areas of economic activity, i.e. liquidity, financial support, managerial efficiency and financial efficiency. This research found that while the group of feed enterprises is relatively homogeneous in terms of financial standing, it includes outliers exhibiting clearly different characteristics of the cash conversion cycle. The conclusion from this study is that operators who stand apart in terms of their different financial situation are engaged in animal production in addition to their core business (which is animal feed production). This suggests they follow a multi-modal activity pattern. The study also confirmed that during the economic downturn (in 2009), the operators surveyed saw their financial performance deteriorate. Conversely, they recorded an improvement in the years of economic upturn (2012). Another conclusion is that liquidity ratios exhibited greater variation.

Macau gambling industry's quick V-shape rebound from 2014 to 2019

PurposeThe purpose of this study is to summarize the factors that result in V-shape rebound of Macau gambling industry's from 2014 to 2019. Both internal and external factors are examined and discussed by representatives from academia, industry and government.Design/methodology/approachPractitioners from the gambling industry offered their cutting-edged analysis and viewpoints with observation and comments from scholars and government representatives in gambling domain.FindingsInternally, actions are taken by both the Macau government and Macau casino operators to rebrand Macau with nongambling elements and to adjust the strategies to attract more tourists from a wider range. Externally, global economic upturn and support from the China government also enhance Macau's quick rebound. A total of nine key factors are finally recognized.Originality/valueThis study provides answers and sense-making explanations to why Macau gambling industry can recover in such a short time after a big drop in Gross Gambling Revenue in 2014. This work reveals that Macau, by learning the lessons from the dramatic decline, conducts various self-rescue action plans which contribute to the quick V-shape rebound. This study is also a self-examination of Macau gambling industry from the firsthand perspectives of scholars, government representatives and casino management.

The fluctuations of China’s economic growth since the reform and opening up and the rational countermeasures

Purpose The purpose of this paper is to review the four large and two small fluctuations in China’s economic growth since the reform and opening up, which can be further divided into five periods of economic upturn and six periods of economic downturn. Design/methodology/approach This paper also analyzes the performance, causes and practical countermeasures of these fluctuations and summarizes the experience and lessons from the eight aspects of dealing with economic downturn and stabilizing growth since the reform and opening up. Findings At last, the paper puts forward some measures to cope with economic downturn and stabilize growth under the new normal in the new era. Originality/value Any country’s economic growth is a tortuous process with many fluctuations. The rate of economic growth cannot rise or go down straight for a long time, and China’s economic growth is no exception. The drastic fluctuations of economic growth can lead to serious overproduction, waste of resources, increased unemployment, decreased income or supply shortages, rising prices and decline of living standards.

Russian state banks will crowd out private sector

Subject Banking evolution in Russia. Significance Financial growth in the banking sector is concentrated at the top end among large state-owned institutions. An economic upturn helped corporate lending grow in 2018, while consumer credit shot up because interest rates fell and because households seem to be meeting spending shortfalls by borrowing. The Central Bank of Russia (CBR) continued its clean up, rescinding more bank licences. Impacts Pension age rises are likely to stimulate demand for savings products and mortgages. Payments into pension funds, often part of large banking groups, are likely to increase. Slowing domestic economic growth and increased competition will drive mergers and acquisitions among smaller private banks.