Industrial transition models review on Slovenia, Romania and Czech Republic
|
|
- Bertram Green
- 5 years ago
- Views:
Transcription
1 Industrial transition models review on Slovenia, Romania and Czech Republic Vladimir Kvetan Institute for Economic Research Slovak Academy of Sciences
2 Review Hearing 7 th march Ljubljana / Slovenia Academic view on transition process Jozef Mercinger Economic transformation process in Slovenia Gheorghe Zaman Economic transformation process in Romania Milan Žák Economic tranformation process in Czech Republic Practical point of view Josef Zbořil Restructuring in the chemical sector in the Czech Republic Samo Hribar Milič Restructuring in the Slovenian industrial sector Vanda Pečjak Restructuring in the Slovensian chemical sector Angela Pop Restructuring in the Romanian chemical sector
3 General tasks of transition process Privatization and private sector building Price liberalization Liberalization of foreign trade Monetary convertibility Slovenia and Czech Republic creation of national currency Heading to EU (mid 90 s) Restructuring the labour market Restructuring of foreign trade orientation
4 Starting points of transition Slovenia Different position compared to others No hard core communism and centralisation Part of Yugoslavia concentrated on industry for western teritories Tradition in self managing companies Short war with Croatia Romania Centralised economy Relatively underdeveloped industry Rural areas connected to agriculture
5 Starting points of transition Czech republic Part of Czechoslovakia peacefully spitted Highly centralized economy More final goods oriented industry compared to Slovakia Advantage in Prague as a seat of foreign trade organizations
6 Transition process background Slovenia Gradual approach Ignoring Washington agreement with assumption S>D Floating immediately Romania Effective mix of gradual reforms and rare shock therapy Czech Republic Shock therapy
7 Privatization process Slovenia Privatization equation ( (1-x)*40)+(20+x*40)=100 10% Pensioners funds 10% Restitutions 20% Development funds 40% social property 20% employees 0<x<1 x=1 small successful companies, majority of workers and management x=0 large unsuccessful companies, state property, PF, RF 0<x<1large successful companies, auctions for vouchers
8 Privatization process Romania Slow process 3 stages setting up commercial societies with private or mixed capital privatization law allows selling and buying the shares and state assest 1998 ongoing process - Mostly foreign strategic partners In 2006 only 71,6 % of GDP (by preliminary data) were made in private sector Czech Republic Small scale privatization SMEs Direct sales Restitutions Large scale privatization (vouchers)
9 Restructuring of industry Slovenia Retiring rather than firing Strong social dialoque Cautious approach to FDI Experience in Acquisitions rather than green field investments Not much technology transfers Increased imports more than exports Specialization within a multinationals Strong monopolies Income account deficits GDP vs. GNP FDI not positive or negative The policy was NOT TO HAVE AN INDUSTRIAL POLICY (Milič)
10 Restructuring of industry Romania Restructuring industry not a key role in transition process deindustrialization Wrong policy decisions (subsidies to wages rather than technology progress) Positive effect of FDI due technology transfer Czech republic Restructuring done by the system jump to water and swim Only key (network) industries were kept state owned as a social pillow FDI as a strategic partnership, neither saints or evil (Zbořil) Tunneling
11 Present state of industrial restructuring chemical industry Slovenia s success factors Fast and rational reactions to changes High investments to technology Openness to foreign investments take the best out of FDI (Pečjak) Professional leadership Employment policy following business needs good social mix
12 Present state of industrial restructuring chemical industry Czech republic Operation facilities survived the shareholder s shocks Further foreign strategic investors arrived There have been some victims but not too many causing not too much losses Looking back the privatization was fairly smooth and fast and ultimately, succesfull Romania Key factor of success Investment in modern equipment Re training of employees Environmental investments Customer orientation
13 Conclusions and findings Privatisation was an essential tool for industrial policy Not a clear industial policy in all cases Decentralised approach without state interventions Institutional quality is basic element FDIs are beneficial in greenfield investments Gradualism vs. shock therapy???
14 For more insight to transition process Kiglics Istvan, Rebuilding the Market Economy in Central East Europe and the Baltic Countries, Akademiai Kiado, Budapest, 2007, ISBN
15 Thank you for your attention
Inequality in the Western Balkans and former Yugoslavia. Will Bartlett Visiting Fellow, LSEE & International Inequalities Institute
Inequality in the Western Balkans and former Yugoslavia Will Bartlett Visiting Fellow, LSEE & International Inequalities Institute International Inequalities Institute project: Specific research questions
More informationRESTRUCTURING IN THE ROMANIAN CHEMICAL SECTOR An employees point of view
RESTRUCTURING IN THE ROMANIAN CHEMICAL SECTOR An employees point of view ANGELA POP Comparison of industrial transition models LJUBLJANA, SLOVENIA 7 March 2008 1 Who am I? 2 My name is Angela Pop. I am
More informationTurkey and the Emerging. the Global Crisis. Yelda Yücel 14 June 2009 Nicosia
Turkey and the Emerging Market Economies during the Global Crisis Yelda Yücel 14 June 2009 Nicosia Green Shoots in The Global Economy? There are more signs of easing of the global recession in the second
More informationCURRENT ECONOMIC PERFORMANCE AND CHALLENGES FOR LITHUANIAN ECONOMY ALGIRDAS MISKINIS VILNIUS UNIVERSITY
CURRENT ECONOMIC PERFORMANCE AND CHALLENGES FOR LITHUANIAN ECONOMY ALGIRDAS MISKINIS VILNIUS UNIVERSITY Presentation prepared for the Conference: Competitiveness Strategies for the EU Small States Chambre
More informationCenter for East European Studies. Niels Mygind. Ten years of transition from plan to market. Working Paper no. 38 December 2000
Center for East European Studies Niels Mygind Ten years of transition from plan to market Working Paper no. 38 December 2000 the author, 2000 Further copies of this and other working papers from the Center
More informationTHE PROCESS OF INTEGRATION THE CZECH REPUBLIC INTO THE EUROPEAN UNION
THE PROCESS OF INTEGRATION THE CZECH REPUBLIC INTO THE EUROPEAN UNION VÍTĚZSLAV BALHAR TIBOR PAULÍK Silesian University in Opava School of Business Administration in Karviná Department of Economics Czech
More informationInvestment horizon in Syria facts & numbers
Investment horizon in Syria facts & numbers Syrian economy has achieved a noticeable development in the last few years, through a gradual reform process targets to encourage private sector to play its
More informationBig debate in the beginning of transition on privatization. Absence of preexisting wealth in population required developing new methods.
7. Privatization and. Big debate in the beginning of transition on privatization. Absence of preexisting wealth in population required developing new methods. Proponents of mass privatization (giveaway
More informationDEVELOPMENTAL PRIORITIES OF THE REPUBLIC OF CROATIA
GOVERNMENT OF THE REPUBLIC OF CROATIA DEVELOPMENTAL PRIORITIES OF THE REPUBLIC OF CROATIA 2002-2004 GROWTH OF EMPLOYMENT AND STANDARD OPENNESS COMPETITIVENESS STABILITY Zagreb, November 12, 2001 BACKGROUND
More informationHungary FDI and how it affects employment. 23rd May 2014
Hungary FDI and how it affects employment 23rd May 2014 Business environment Location: a market of 507 million EU citizens with access to the market of 205 million people of Russia, Ukraine and the Western
More informationNPLs in Hungary. a regional perspective. Budapest, March 3, 2015
NPLs in a regional perspective Budapest, March 3, 215 James Roaf Senior Resident Representative IMF Regional Office for Central and Eastern Europe, Warsaw Diverging NPL ratios 2 NPLs as percent of total
More informationby Svetla Trifonova Marinova and Martin Alexandrov Marinov Aldershot, Ashgate Pp. 352
Book Review For oreign Direct Investment in Central and Eastern Europe by Svetla Trifonova Marinova and Martin Alexandrov Marinov Aldershot, Ashgate 2003. Pp. 352 reviewed by Dimitrios Kyrkilis* Since
More informationPlace based intervention in Pomurje. Jurij Kobal, Slovenia
Place based intervention in Pomurje Jurij Kobal, Slovenia Jurij Kobal Oikos, company working in Pomurje region on Government s Place Based Intervention. Working in Slovenia, Croatia, Montenegro, Serbia,
More informationSummary of the Partnership Agreement for Croatia,
EUROPEAN COMMISSION Brussels, 30 October 2014 Summary of the Partnership Agreement for Croatia, 2014-2020 Overall information The Partnership Agreement (PA) covers five funds: the European Regional Development
More informationReport on EIB operations Inside the EU With the three pillar Assessment methodology. SMEs. Employment and growth
Report on EIB operations Inside the EU 2015 With the three pillar Assessment methodology SMEs Employment and growth 1 SMEs and Midcaps finance SMEs and Midcaps are vital to the wellbeing of Europe s economy.
More informationCommunication on the future of the CAP
Communication on the future of the CAP The CAP towards 2020: meeting the food, natural resources and territorial challenges of the future Tassos Haniotis, Director Agricultural Policy Analysis and Perspectives
More informationTwo Decades of Post-Communist Change in Europe and the CIS: What Has Been Achieved? What Is Still To Be Done? CRCE Colloquium- September 2011
Two Decades of Post-Communist Change in Europe and the CIS: What Has Been Achieved? What Is Still To Be Done? CRCE Colloquium- September 2011 Central Europe (1) Chairman: John Moore Discussion Leader:
More informationStudy on the framework conditions for High Growth Innovative Enterprises (HGIEs)
Study on the framework conditions for High Growth Innovative Enterprises : framework conditions selected, measurement, data availability and contingency measures : Innovation, high-growth and internationalization
More informationPreliminary results of International Trade in 2014: in nominal terms exports increased by 1.8% and imports increased by 3.
International Trade Statistics 7 July, 215 Preliminary results of International Trade in : in nominal terms exports increased by 1.8% and imports increased by 3.2% vis-à-vis 213 In, exports of goods increased
More informationPension Policy: Reversals of Funded Schemes
Public Disclosure Authorized Public Disclosure Authorized Pension Policy: Reversals of Funded Schemes Public Disclosure Authorized Agnieszka Chłoń-Domińczak, Ph. D. Warsaw School of Economics Washington
More information9707/1,2 Business Studies Unit 1: Business & Environment A Levels
9707/1,2 Business Studies : Business & Environment BUSINESS ORGANIZATIONS MARKET ECONOMIES QUICK TIPS PLANNED ECONOMY / COMMAND - all major assets are owned by government - state ownership - prices are
More informationThe Role of Financial System in Promoting Growth in Emerging Economies
The Role of Financial System in Promoting Growth in Emerging Economies Vladimir Tomsik International Conference of Banking Supervisors September 25, 2014, Tianjin, China Contents Size of the financial
More informationManaging the State Aid in Romania According to European Union s Policy
Managing the State Aid in Romania According to European Union s Policy Cristian BUŞU 1 ABSTRACT The importance of state aid has gradually increased in the recent decades. Aid allocations in the EU Member
More information> Slovenská sporiteľňa Reaching the top in lending
> >4 th Capital Markets Day > Bucharest, > Regina Ovesny-Straka, CEO, Slovenská sporiteľňa > Disclaimer Cautionary note regarding forward-looking statements THE INFORMATION CONTAINED IN THIS DOCUMENT HAS
More informationPKO Bank Polski. Poland - an interesting place on the investment map for the Danish entrepreneurs
PKO Bank Polski Poland - an interesting place on the investment map for the Danish entrepreneurs Copenhagen, 29th of April 2014 Leading bank in Poland and CEE The largest universal bank in Poland since
More information4. Balance of Payments and Foreign Trade
24 4. Balance of Payments and Foreign Trade 4. Balance of Payments and Foreign Trade Current account deficit in 2014 was lower than the one realised in 2013 In the period January- November 2014, current
More informationNotes on the monetary transmission mechanism in the Czech economy
Notes on the monetary transmission mechanism in the Czech economy Luděk Niedermayer 1 This paper discusses several empirical aspects of the monetary transmission mechanism in the Czech economy. The introduction
More informationBojan Markovic EBRD. Forces Shaping the Future of Europe and Much of the World. Financial and macroeconomic challenges
Bojan Markovic EBRD Forces Shaping the Future of Europe and Much of the World Financial and macroeconomic challenges ICTF Annual Global Trade Symposium Ft Lauderdale, 14 November 2016 1 Outline Longer
More informationKorean Economic Trend and Economic Partnership between Korea and China
March 16, 2012 Korean Economic Trend and Economic Partnership between Korea and China Byung-Jun Song President, KIET Good evening ladies and gentlemen. It is a great honor to be a part of this interesting
More informationCANADA EUROPEAN UNION
THE EUROPEAN UNION S PROFILE Economic Indicators Gross domestic product (GDP) at purchasing power parity (PPP): US$20.3 trillion (2016) GDP per capita at PPP: US$39,600 (2016) Population: 511.5 million
More informationGovernor of the Bank of Latvia
Lessons from Latvia s internal adjustment strategy Ilmārs Rimšēvičs Governor of the Bank of Latvia September 4, 2012 Presentation outline Overheating of Latvia s economy Expansionary consolidation Lessons
More informationNeoclassicism in the Balkans
Neoclassicism in the Balkans Vladimir Gligorov Vienna, May 12, 21 Neoclassical Growth> Stylized Foreign investment driven because of higher productivity in capital scarce countries Investments mostly in
More informationIndustrial Policy. by Allan H. Meltzer. Testimony Before the Joint Economic Committee October 31, 1983
Industrial Policy by Allan H. Meltzer Testimony Before the Joint Economic Committee October 31, 1983 Industrial policy is defined in the Chairman's letter of invitation as the coordination of Federal fiscal,
More informationThe solid performance of CEE. Central and Eastern Europe pulled along by banks
The opening of the credit sector to outside investors has been a key part of the process of transforming and modernising the entire area and its economy. Western banks now play a leading role in many countries,
More informationThe New Role of Growth Financing
OMV Aktiengesellschaft The New Role of Growth Financing Conference on European Economic Integration Vienna, 15 November 2010 Wolfgang Ruttenstorfer CEO and Chairman of the Executive Board OMV Aktiengesellschaft
More informationEuropean Advertising Business Climate Index Q4 2016/Q #AdIndex2017
European Advertising Business Climate Index Q4 216/Q1 217 ABOUT Quarterly survey of European advertising and market research companies Provides information about: managers assessment of their business
More informationList of Projects. Vladimir Gligorov
http://wiiw.ac.at List of Projects Vladimir Gligorov Capacity building for Central, East and Southeast Europe: Joint Vienna Institute January 2009 - December 2019 For more than two decades, wiiw has been
More informationRecent Macroeconomic and Monetary Developments in the Czech Republic and Outlook
Recent Macroeconomic and Monetary Developments in the Czech Republic and Outlook Miroslav Singer Governor, Czech National Bank FORECASTING DINNER 212, Czech CFA Society Prague, 22 February 212 M. Recent
More informationNot all FDI contribute equally to capital accumulation and economic growth
Not all FDI contribute equally to capital accumulation and economic growth Author Kristofor Pavlov, Chief Economist of UniCredit Bulbank Prepared for the conference Attracting Investments: Strategies and
More informationAustrian outward FDI by selected countries and industries
Wiener Institut für Internationale Wirtschaftsvergleiche The Vienna Institute for International Economic Studies www.wiiw.ac.at Austrian outward FDI by selected countries and industries Gabor Hunya hunya@wiiw.ac.at
More informationEF.IO/3/05 22 May 2005
Organization for Security and Co-operation in Europe Secretariat EF.IO/3/5 May 5 ENGLISH only Conference Services Please find attached the presentation by Ms. Vanessa Mitchell-Thomson, Principal Economist,
More informationTHE STRUCTURAL CHARACTERISTICS OF WORLD TRADE AND THE MERCHANDISE EXPORTS OF SERBIA
ECONOMIC ANNALS, Volume LIV, No. 181, April June 2009 UDC: 3.33 ISSN: 0013-3264 SCIENTIFIC PAPERS Radovan Kovačević* DOI:10.2298/EKA0981055K THE STRUCTURAL CHARACTERISTICS OF WORLD TRADE AND THE MERCHANDISE
More informationBulgaria in the EU: Challenges and opportunities
Bulgaria in the EU: Challenges and opportunities 60 days before EU: what to expect, what to do? Sofia, October 18, 2006 Maria Laura Lanzeni Head of Emerging Markets Global Risk Analysis Think tank of Deutsche
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 28.10.2005 COM(2005) 537 final REPORT FROM THE COMMISSION TO THE COUNCIL, THE EUROPEAN PARLIAMENT, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE
More informationOECD-US Treasury Conference on Financial Education Washington, DC May 8, 2008
OECD-US Treasury Conference on Financial Education Washington, DC May 8, 2008 Sue Rutledge Regional Coordinator, Corporate Governance and Consumer Protection World Bank srutledge@worldbank.org WORLD BANK
More informationREPUBLIC OF CROATIA CROATIAN COMPETITION AGENCY ANNUAL REPORT. on State Aid for 2007
REPUBLIC OF CROATIA CROATIAN COMPETITION AGENCY ANNUAL REPORT on State Aid for 2007 (English summary) November 2008 CONTENTS 1. INTRODUCTION 3 2. STATE AID IN 2007 5 2.1. Categories of state aid 9 2.2.
More informationIrish Economy and Growth Legal Framework for Growth and Jobs High Level Workshop, Sofia
Irish Economy and Growth Legal Framework for Growth and Jobs High Level Workshop, Sofia Diarmaid Smyth, Central Bank of Ireland 18 June 2015 Agenda 1 Background to Irish economic performance 2 Economic
More informationNational Strategy for Development of the Capital Market in the Czech Republic
Ministry of Finance of the Czech Republic Letenská 15 118 1 Praha 1 www.mfcr.cz National Strategy for Development of the Capital Market in the Czech Republic 219-223 Ministry of Finance of the Czech Republic
More informationFDI in Central, East and Southeast Europe: Declines due to Disinvestment
Wiener Institut für Internationale Wirtschaftsvergleiche The Vienna Institute for International Economic Studies www.wiiw.ac.at wiiw FDI Report 218 FDI in Central, East and Southeast Europe: Declines due
More informationInstrument for Pre-accession Assistance (IPA): the Rural Development Component IPARD
Instrument for Pre-accession Assistance (IPA): the Rural Development Component IPARD Elitsa Yanakieva European Commission, DG AGRI, Unit for Pre-accession assistance 5th meeting of EU-the former Yugoslav
More informationMacroeconomic Developments in Central European Economies
Macroeconomic Developments in Central European Economies Jan Frait Presentation for 2nd Clearstream Summit for Enlarged Europe Prague, Hotel Renaissance May 18, 26 I. Current developments in CEC Current
More informationThe Payments Systems and the Financial Stability. Pavel Racocha. Member of the Bank Board, Czech National Bank
The Payments Systems and the Financial Stability Pavel Racocha Member of the Bank Board, Czech National Bank Keynote Presentation at Conference Payment Systems in Central and Eastern Europe, Prague, July
More informationActivities Implemented to Date 1. FOREIGN DIRECT INVESTMENT POLICIES AND PROGRAMMES
MONTENEGRO 101 Summary The activities of the Government of in 2000 were aimed at transformation and privatisation of the economy and the establishment of the structural preconditions for a functioning
More informationP3: Causes of Globalisation
Learning Aim B P3: Causes of Globalisation The main features of globalisation e.g. trading blocs, international mobility of labour and capital, international currencies, multinational corporations, international
More informationRomania Riding the Convergence Wave by Steven van Groningen CEO Romania
Romania Riding the Convergence Wave by Steven van Groningen CEO Romania Capital Markets Day, September 28 Slide 1 Inflation Increased in 27, But Under Control Real GDP Development 8.5% 7.9% 5. 6. 4. Downward
More informationInvestment in France and the EU
Investment in and the EU Natacha Valla March 2017 22/02/2017 1 Change relative to 2008Q1 % of GDP Slow recovery of investment, and with strong heterogeneity Overall Europe s recovery in investment is slow,
More informationTHE HUNGARIAN TRANSITION EXPERIENCE, : LESSONS FOR CUBA
THE HUNGARIAN TRANSITION EXPERIENCE, 1989 2006: LESSONS FOR CUBA Rolando H. Castañeda and Geni Gómez Multi-country transition studies, by their very nature, tend to mask issues and strategies that were
More informationRiding the global growth wave. Richard Grieveson. Press conference, 13 March New wiiw forecast for Central, East and Southeast Europe,
Wiener Institut für Internationale Wirtschaftsvergleiche The Vienna Institute for International Economic Studies wiiw.ac.at Press conference, 13 March 2018 New wiiw forecast for Central, East and Southeast
More informationFINANCING SMEs IN SERBIA * Introduction
FINANCING SMEs IN SERBIA * Ivan Stošić 1, Đuro Đurić 2, Bojana Radovanović 3 Abstract The sector of small and medium-sized enterprises (SME) has an extremely important role for the Serbian economic development.
More informationPublic consultation on EU funds in the area of investment, research & innovation, SMEs and single market
Public consultation on EU funds in the area of investment, research & innovation, SMEs and single market Fields marked with * are mandatory. Public consultation on EU funds in the area of of investment,
More informationREPORT ON THE RISKS IN THE BANKING SYSTEM OF THE REPUBLIC OF MACEDONIA IN 2013
National Bank of the Republic of Macedonia Supervision, Banking Regulation and Financial Stability Sector Financial Stability and Banking Regulations Department REPORT ON THE RISKS IN THE BANKING SYSTEM
More informationCatching up with the EU - the economic case of Macedonia
MPRA Munich Personal RePEc Archive Catching up with the EU - the economic case of Macedonia College of Europe 1. November 2005 Online at http://mpra.ub.uni-muenchen.de/6542/ MPRA Paper No. 6542, posted
More informationThe macroeconomic effects of a carbon tax in the Netherlands Íde Kearney, 13 th September 2018.
The macroeconomic effects of a carbon tax in the Netherlands Íde Kearney, th September 08. This note reports estimates of the economic impact of introducing a carbon tax of 50 per ton of CO in the Netherlands.
More informationInvestment issues in South-Eastern Europe
Economic and Financial Report 2000/02 Investment issues in South-Eastern Europe Christopher Hurst and Kristian Uppenberg European Investment Bank 100, blvd. Konrad Adenauer L-2950 Luxembourg FAX: (352)
More informationKEY CHALLENGES OF FINANCIAL MARKET IN POLAND. MAIN TENDENCIES IN RETAIL, SME AND CORPORATE.
Center for Social and Economic Research http://www.case.com.pl Jadwiga Zaręba KEY CHALLENGES OF FINANCIAL MARKET IN POLAND. MAIN TENDENCIES IN RETAIL, SME AND CORPORATE. EXECUTIVE SUMMARY This conference,
More informationUkraine Economic Growth and Financial Infrastructure. Michael Bleyzer March 2005 v10
Ukraine Economic Growth and Financial Infrastructure Michael Bleyzer March 2005 v10 1 UKRAINE: Economic Highlights Few non-oil producing countries in the world can show the following combination of economic
More informationBelarusian Industrial Sector: Performance, Trends and Issues. Belarus Economic Policy Note July 8, 2010, Minsk
Belarusian Industrial Sector: Performance, Trends and Issues Belarus Economic Policy Note July 8, 2010, Minsk Outline Industrial performance in 2005-08: sources of growth Below the surface: warning signs
More informationEconomy-Wide and Sector Effects of Russia s Accession to the WTO
Economy-Wide and Sector Effects of Russia s Accession to the WTO by Jesper Jensen, Copenhagen Economics Thomas Rutherford, University of Colorado and David Tarr, The World Bank I. Introduction We believe
More informationSUMMARY of ISSUES for COAL INDUSTRY RESTRUCTURING in CEE/CIS REGION. Mücella ERSOY Turkish Coal Enterprises. February 2006
SUMMARY of ISSUES for COAL INDUSTRY RESTRUCTURING in CEE/CIS REGION Mücella ERSOY Turkish Coal Enterprises Ad Hoc Group of Experts on Coal in Sustainable Development Eight Session, Geneva,, 2-32 February
More informationIs economic growth sustainable in Romania?
MPRA Munich Personal RePEc Archive Is economic growth sustainable in Romania? George Ciobanu and Andreea Maria Ciobanu 18. March 2008 Online at http://mpra.ub.uni-muenchen.de/7810/ MPRA Paper No. 7810,
More informationUBS Global Financial Services conference New York, May 16, Jan Lidén CEO
UBS Global Financial Services conference New York, May 16, 27 Jan Lidén CEO The leading bank in four small countries Sweden Total population: 9.m Private customers: 4.1m Corp. customers: 262, Organisations:
More informationEnterprise Europe Network SME growth forecast
Enterprise Europe Network SME growth forecast 2017-18 een.ec.europa.eu Foreword Since we came into office three years ago, this European Commission has put the creation of more jobs and growth at the centre
More informationBulletin of the Institute for Western Affairs
` Bulletin of the Institute for Western Affairs Outward FDI Policies in Visegrad countries Country report Hungary In the Central and Eastern European region Hungary was the first country that invested
More informationThe Analysis of the Situation of Foreign Direct Investments in Romania
The Analysis of the Situation of Foreign Direct Investments in Romania Camelia Milea 1, Florin Bălăşescu 2 Abstract: Foreign direct investments represent one of the ways of financing any economy. But like
More informationEvaluation Only. Created with Aspose.Words. Copyright Aspose Pty Ltd. International Monetary Fund
Evaluation Only. Created with Aspose.Words. Copyright 2003-2011 Aspose Pty Ltd. International Monetary Fund Czech Republic 2010 Article IV Consultation Concluding Statement January 25, 2010 The macroeconomic
More informationGross Domestic Product of the Czech Republic in
Gross Domestic Product of the Czech Republic in 1970 1990 1. Jaroslav Sixta 2, Jakub Fischer University of Economics, Prague, Czech Republic Abstract The paper shows the results of our research aimed at
More informationPRACTICAL ASPECTS AND DILEMMAS OF MEDIUM TERM FISCAL PLANNING - CASE OF SLOVENIA. Copyright rests with the author. All rights reserved.
PRACTICAL ASPECTS AND DILEMMAS OF MEDIUM TERM FISCAL PLANNING - CASE OF SLOVENIA Copyright rests with the author. All rights reserved. Saša Jazbec, Ministry of Finance Republic of Slovenia MARCH 2018 Agenda
More informationPositive Outlook Central Europe CFO Survey results 6 th edition Slovakia
Positive Outlook Central Europe CFO Survey 0 0 results th edition Slovakia Contents Introduction Introduction Macroeconomic Insight About the sixth Deloitte CE CFO Survey Key findings Growth Risk Debt
More informationReport on the distribution of direct payments to agricultural producers (financial year 2016)
Report on the distribution of direct payments to agricultural producers (financial year 2016) Every year, the Commission publishes the distribution of direct payments to farmers by Member State. Figures
More informationNon-Performing Loans in CESEE
Non-Performing Loans in CESEE Vienna, September 23, 2014 James Roaf Senior Resident Representative IMF Regional Office for Central and Eastern Europe, Warsaw High NPLs ratios need to be addressed Boom-bust
More informationJózsef Hegedüs: New housing policies in CEE? Divergence or convergence?
József Hegedüs: New housing policies in CEE? Divergence or convergence? Housing Market Challenges in Europe and the US any solutions available? Wien, September 29, 2008 ÖNB workshop Metropolitan Research
More informationINDONESIA EMPLOYMENT POLICIES: PROBLEMS AND CHALLENGES
INDONESIA EMPLOYMENT POLICIES: PROBLEMS AND CHALLENGES Rahma Iryanti Deputy Minister for Poverty, Labor, and SMEs National Development Planning Agency 24 February 2015 BACKGROUND From 2005 to 2014, Indonesia
More informationBy Zuzana Brixiova 1. Introduction
PROMOTING ECONOMIC TRANSITION IN BELARUS By Zuzana Brixiova 1 Introduction I would like to thank the organizers of this seminar for the opportunity to speak about how to promote economic reforms in Belarus.
More informationVALUATION FOR PROPERTY TAX PURPOSE. ANALYSIS OF THE EU TRANSITIONAL COUNTRIES
VALUATION FOR PROPERTY TAX PURPOSE. ANALYSIS OF THE EU TRANSITIONAL COUNTRIES Ion ANGHEL, Bucharest University of Economics, Romania Ciprian SIPOS, The West University of Timisoara, Romania Key words:
More informationStructure of Banking Systems in Developed and Transition Economies
LAB Assignment Term-I Structure of Banking Systems in Developed and Transition Economies Faculty: Prof. I. Sridhar Prepared By: Ashis Lamba (005EPGP2014) 1 CONTENTS INTRODUCTION...3 EMERGENCE OF BANKING
More informationA Transition to Sustainable and Shared Prosperity. Joseph E. Stiglitz Tokyo March 14, 2017
A Transition to Sustainable and Shared Prosperity Joseph E. Stiglitz Tokyo March 14, 2017 Brief diagnosis of the current situation This century has been marked by slow growth And what growth that has occurred
More informationVI. PUBLIC ECONOMY. VI.1 State Budget VI. PUBLIC ECONOMY. State Budget - Plans and Reality
VI. PUBLIC ECONOMY VI.1 State Budget 560 550 State Budget - Plans and Reality 549.0 540 530 bil. CZK 520 510 500 490 491.0 510.3 496.8 488.3 480 470 460 450 Budget '96 Original budget '97 Reconsidered
More informationFrom Communism to Capitalism: Private Versus Public Property and Inequality in China and Russia
WID.world WORKING PAPERS SERIES N 2018/2 From Communism to Capitalism: Private Versus Public Property and Inequality in China and Russia Filip Novokmet Thomas Piketty Li Yang Gabriel Zucman January 2018
More informationSingle Market Scoreboard
Single Market Scoreboard Performance per Member State Romania (Reporting period: 2017) Transposition of law In 2016, the Member States had to transpose 66 new directives, which represents a large increase
More informationEVOLUTION OF INSOLVENCY REGULATIONS IN ROMANIA
EVOLUTION OF INSOLVENCY REGULATIONS IN ROMANIA Elena Cristina Baciu Alexandru Ioan Cuza University of Iaşi, România baciu.elenacristina@yahoo.com Abstract: The financial situation of a firm represents
More information5th Capital Markets Day 21 September 2007, Bratislava
5th Capital Markets Day, Bratislava Regina Ovesny-Straka, CEO, Slovenská sporiteľňa Disclaimer Cautionary note regarding forward-looking statements THE INFORMATION CONTAINED IN THIS DOCUMENT HAS NOT BEEN
More informationGrowth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso,
Growth, competitiveness and jobs: priorities for the European Semester 213 Presentation of J.M. Barroso, President of the European Commission, to the European Council of 14-1 March 213 Economic recovery
More informationDynamic and Continuous Expansion of the Network
Country Overview Herbert Stepic, CEO Dynamic and Continuous Expansion of the Network Successful greenfield strategy Hungary Poland Czech Republic Bulgaria Russia Ukraine Serbia Slovakia Croatia Romania
More informationINVEST IN MACEDONIA. D eputy - CEO, Agency for FDI June, Agency for Foreign Investments and Export Promotion.
INVEST IN MACEDONIA Kliment Sekerovski D eputy - CEO, Agency for FDI June, 2015 1 Location and Transport Infrastructure Two Pan-European corridors: East-West Corridor 8 North-South Corridor 10 Road network:
More informationCESEE DELEVERAGING AND CREDIT MONITOR 1
CESEE DELEVERAGING AND CREDIT MONITOR 1 November 17, 215 Key developments in BIS Banks External Positions and Domestic Credit The reduction of external positions of BIS reporting banks vis-à-vis Central,
More informationREPORT ON WORK WITH THE PRE-ACCESSION-COUNTRIES (PACS) - Financial National Accounts, monetary and other financial statistics
REPORT ON WORK WITH THE PRE-ACCESSION-COUNTRIES (PACS) In Spring 1996 Eurostat was requested by the Commission of the European Union to make arrangements, by end 1997, for the provision of adequate macro-economic
More informationCESEE DELEVERAGING AND CREDIT MONITOR 1
CESEE DELEVERAGING AND CREDIT MONITOR 1 December 6, 216 Key developments in BIS Banks External Positions and Domestic Credit and Key Messages from the CESEE Bank Lending Survey The external positions of
More information3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a
3 Labour Costs Indicator 3.1a Indicator 3.1b Indicator 3.1c Indicator 3.2a Indicator 3.2b Indicator 3.3 Indicator 3.4 Cost of Employing Labour Across Advanced EU Economies (EU15) Cost of Employing Labour
More informationEconomic overview and investment trends. Pēteris Strautiņš, Luminor September 26, 2018
Economic overview and investment trends Pēteris Strautiņš, Luminor September 26, 2018 Baltic picture Baltic economies During this and the next year Latvia is likely to be the fastest growing economy in
More informationMulti-pillar Pension Systems: Lessons from Central Europe. Heinz P. Rudolph, World Bank Will Price, World Bank Brussels, Belgium June 25-26, 2012
Multi-pillar Pension Systems: Lessons from Central Europe Heinz P. Rudolph, World Bank Will Price, World Bank Brussels, Belgium June 25-26, 2012 Overview of the Presentation Initial expectations The multi-pillar
More information