This paper aims to present the role of Germany in the global value chains (GVCs) of 10 Central and Eastern European countries (CEECs) in 1995–2011. GVCs, being a result of the fragmentation of production processes, have changed the nature of economic globalisation. The study covers five Central European countries (CECs) (the Czech Republic, Hungary, Poland, Slovakia and Slovenia), the three Baltic States (Estonia, Lithuania and Latvia) as well as Bulgaria and Romania. Germany is chosen because it is the main trading partner of the majority of the CEECs. The illustration of the position of Germany in GVCs of the CEECs is based on trade statistics in value added terms. The research results show that Germany has become an engine of increasing integration of the CECs in the GVCs. The role of Germany as a supplier of inputs to the CECs’ exports (backward linkages) is larger than its role as an exporter of value added originating from the CECs (forward linkages).
Authors:Tomislav Galović, Heri Bezić, and Petar Mišević
The main aim of this paper is to measure the consequences of terrorist activities on capital flows of the developed countries. Capital flows are interpreted as FDI inflows and outflows. The methodology is based on the dynamic panel data models (System-2 step-GMM estimator) using a sample of 36 developed countries all over the world from 2000 to 2016. The key results indicate that the terrorist incidents have different impact on capital flows of the developed countries compared to impacts of economic and institutional variables. All the variables used in the paper show the level of their impact on capital flows. The results indicate that terrorist activities weaken economic activity of a country, while minimising capital flows in certain situations. The recommendations and proposals are given based on the results of research.
The global automotive industry has been exposed to an overproduction crisis for several decades. Under the pressure of restructuring, automotive companies renew both the geographical scope and the technological standardization of their production processes. We analyze the effects this restructuring had on the development of European economies in order to understand whether vertical specializations in the automotive value chain can lead to Central and Eastern European countries’ catching up to advanced economies, or whether such specializations reproduce new forms of core-periphery relations. In order to answer this question, we introduce a new methodological approach to understand vertical specialization in the global value chain from a semi-peripheral perspective. We combine the theory of global value chains with Vernon's product life-cycle theory. In the research we focus on the standardization of the production of electric engines behind the geographical relocation of production between core and periphery.
The kinetics of isothermal decomposition of solid K2Zr2(O2)2F6·2H2O have been studied in the temperature range 100–226° under vacuum. The fractional decomposition α has been determined by measuring the pressure of evolved oxygen during pyrolysis with the help of a McLeod gauge. The α values ranged from 0.05 to 0.62. The αvs. t data showed that the kinetics are deceleratory throughout the course of the reaction. The initial part of the decomposition reaction could be best described by a unimolecular decay law, while the later stages obey contracting volume kinetics. The activation energies have been determined and the respective values for the above stages are 13.6 and 6.9 kcal·mole−1.
Alternative Investment Management Association, AIMA’s Roadmap to Hedge Funds (4th edn, 2012 ), <https://www.aima.org/uploads/assets/uploaded/1225c1ba-f62b-439a-904d60564a441200.pdf> accessed 27 April 2017
Authors:A. Kabas, A. Ersoy, S. Zengin, and M. Golukcu
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