Although writing as an economist, János Kornai addressed fundamental questions of political economy throughout his career. These considerations began with his model of state socialist economies, but were explicit in his work on transitions and the political economy of reform as well. This paper provides an overview of those contributions, with a particular attention to the relationship between regime type – democracy and authoritarian rule – and economic structures, processes, and outcomes.
Based on a literature review, we develop a research profile that illustrates that survey-based, trustrelated empirical research has severe limitations. It usually carries out general relationship analysis using single end or quasi two-sided sampling and classic statistical constructs. We designed and carried out an empirical research that was highly situational, applied dyadic operationalisation, pairwise sampling, and dyadic data analysis — a special statistical approach and toolset developed by psychologists and used to analyse interdependencies in relationships. Our main contribution is methodological and theoretical since the paper gives a structured overview on the methodological challenges in analysing mutuality in trust, but also in other relational attributes. The paper not only makes these methodological problems explicit, but also offers a potential solution to overcome some of their limitations.
The paper aims to analyse state-owned enterprises (SOEs) in 11 post-socialist Central-Eastern European (CEE) countries. Based on the individual data of large non-financial companies, we estimated the real state share in the years 2014 and 2015. We consider both direct and indirect state ownership and apply an explicit classification of companies as majority and minority state-owned, which is neglected in a lot of research. The countries with the highest values of the ‘Country SOE index’ were Slovenia and Latvia, while the lowest were Lithuania and Hungary. State ownership is dominant in transportation and storage and energy supply. The lower return on assets (ROA), return on equity (ROE) and return on capital employed (ROCE) ratios of SOEs imply that capital in this group of companies is used less efficiently. Furthermore, they are characterised by higher wage costs. At the same time, SOEs have higher earnings before interest, taxes, depreciation and amortization (EBITDA) margins and better ability to turn operating revenue into cash than their privately-owned counterparts.
framework. It is better to have an explicit, inclusive and orderly MSTL union than to pursue a disorderly and inconsistent unitary federal integration ( Acemoglu – Robinson 2012; Rosefielde – Pfouts 2014 ). The present EU MSTL is anything but an idea, caught
and the target, which is almost always the case in economics, especially when one explicitly discards resemblance understood as realistic description, as Sugden does. This is the point at which Cartwright's and Grüne-Yanoff's critiques meet. It follows
turned into proper policies and implementation projects. Only after the devastating effects of the global financial crisis, an umbrella strategic document for an explicit formulation of all development policies, strategies and reforms appear. Namely, at
classifications of liquidity measures are (i) transaction cost measures, (ii) volume-based measures, (iii) equilibrium price-based measures, and (iv) market impact measures. The transaction cost measures can be further divided into explicit and implicit
Authors:Mirjana Gligorić Matić, Biljana Jovanović Gavrilović, and Nenad Stanišić
showed higher coefficients for independent variables (initial prosperity indices) compared to the equivalent cross-sectional regressions, indicating higher speed of convergence. Main reason for this could be the fact that panel data take explicit account
meaning. As a result, there are no explicit and widely accepted theoretical economic models explaining FDI in ABS. Anyway, a very useful approach to BS and international flows was provided by Markusen – Strand (2009) . Their starting point was to
explicitly ruled out in terms of intra-area relations. 2 Moreover, the inescapable need for a common monetary policy stance may pose a dilemma for the central bank of the currency area. This trap arises if actual intra-area economic fluctuations are