List of issues

Contents of issue 10/2007

Joanna Tyrowicz, Piotr Wójcik - The Convergence of Unemployment Rates in Poland in 1999-2006, abstract, article

Marian Gorynia, Barbara Jankowska - The Internationalization Theories of the Firm: A Short Review, abstract, article

Andrzej Sznajder - The Characteristic Features of the Professional Sports Market, abstract, article

Ewa Baranowska-Prokop - Offset Transactions and Industrial Development, abstract, article

Arkadiusz Babczuk, Andrzej Dudek - The Forms of Auctioning Treasury Securities, abstract, article


Book Review: Johan Norberg, Spór o globalizację. Kto zyskuje, kto traci i dlaczego? (In Defense of Global Capitalism), Fijorr Publishing, Warsaw 2006, 346 pp. - reviewed by Piotr Ważniewski

Regional Development: Key Goals and Challenges - Tadeusz Smuga

Joanna Tyrowicz, Piotr Wójcik - The Convergence of Unemployment Rates in Poland in 1999-2006

The article discusses the convergence of unemployment rates at the county level in Poland in 1999-2006, on the basis of available statistical data. The authors examine both β- and δ-convergence; the former involves the relationship between the growth of the unemployment rate and its initial level, and the latter is based on an analysis of the dispersion of the rates and their changes over time. The authors use methods that enable them to examine changes in the distribution of the analyzed variables. These methods include transition matrices and a nonparametric kernel estimation method. Transition matrices make it possible to determine the likelihood of a county’s unemployment rate increasing, decreasing or remaining constant, while classifying the rates into several brackets. Kernel estimation, in turn, makes it possible to analyze the full conditional function of the density of the distribution of the unemployment rate at the county level and its changes over time. These methods were borrowed from research into regional convergence for income. They make it possible to detect the occurrence of polarization, or the so-called club convergence.
The analysis of unemployment rates at the county level in 1999-2006 reveals a far-reaching stability of the regional distribution of unemployment rates—in terms of both monthly and yearly changes. Over the past seven years, no δ-convergence has occurred. The researchers have only detected slightly growing similarities between labor markets in counties with the highest relative unemployment rates. The analysis of β-convergence reveals a far-reaching divergence of unemployment levels in individual counties in Poland. This trend is less pronounced in counties with the lowest relative unemployment rates, while being markedly stronger on labor markets heavily affected by joblessness.
Overall, the study places a question mark over the effectiveness of cohesion policies carried out in Poland through various channels since 1999.

Keywords: unemployment, regional convergence, kernel estimation
Article: PDF

Marian Gorynia, Barbara Jankowska - The Internationalization Theories of the Firm: A Short Review

The paper discusses some internationalization theories of the firm. The authors look for key factors behind internationalization processes, with a special emphasis on experience and knowledge as the determinants of the internationalization strategy of firms.
The review begins with a presentation of the Uppsala model and the approaches to internationalization developed by Cavusgil; Bilkley and Tesar; Cieślik; and Korth. Then the authors highlight concepts perceiving internationalization as a kind of innovation in the strategy of the enterprise as well as the concept of simultaneous internationalization. At the end of the paper, the authors draw the reader’s attention to a network approach toward internationalization. The analysis made in the paper allows the authors to conclude that the key determinants of the firm’s internationalization process come from the competitive potential of the company as well as the firm’s environment. Some theories of the foreign expansion of enterprises focus on internal factors, while others stress external factors. It seems that the best method is an eclectic approach and taking advantage of the complementary character of the theories discussed, the authors say.

Keywords: internationalization, firm, theory
Article: PDF

Andrzej Sznajder - The Characteristic Features of the Professional Sports Market

The author takes a look at the professional sports market and identifies its characteristic features. He analyzes literature on the economics of sports and the sports industry and describes the conditions underlying the operations of sports organizations, the features of sports goods, competition on the sports market, the functioning of sports clubs, and the behavior of buyers on this market. This allows Sznajder to determine the characteristic features of the sports business and the professional sports market.
Sznajder notes that sports have become a major industry today and that the sports market is increasingly global in nature. Sports clubs are transforming themselves from nonprofit associations into commercial companies that seek to be profitable and economical. Governments are changing their approach toward sports, and the systems for financing sports are being modified. The sports market is dual in nature, Sznajder says, because sports companies these days must do business according to both the business-to-consumer (B2C) and business-to-business (B2B) models. These two markets involve different kinds of sports products and different marketing approaches. The sports market shows considerable differences among market entities and their goals. At the same time, sports organizations, which act as suppliers on this market, heavily depend on the behavior of sports fans as customers. All this makes the sports industry a regulated market, the author concludes.

Keywords: sports market, competitive sports industry, sports clubs, business-to-consumer (B2C)/business-to-business (B2B) models
Article: PDF

Ewa Baranowska-Prokop - Offset Transactions and Industrial Development

The paper aims to show how offset transactions contribute to an accelerated development of various industries. The author describes the principal guidelines of government policy vis-à-vis offset agreements, showing a framework of relationships between the main forms of offset strategies and the goals of industrial development in both the civilian and defense sectors. Further in the article, the author offers a concise model of technological development spurred by offset transactions. The model is illustrated by numerous examples of offset transactions made in recent years between partners from various regions of the world.
The economic effects of offset transactions on industrial development are unclear, the author concludes, but a detailed analysis of specific examples of such transactions may help reveal the basic problems that arise in the course of such projects, along with the long-term implications of poor performance and negotiation mistakes in this area.
The paper ends with a brief analysis of Poland’s defense industry and its prospects for the future, including plans to establish a single defense corporation based on the use of new technology secured by Poland under offset agreements signed by the government over the past several years.

Keywords: tie-in transactions, offset projects, industrial development
Article: PDF

Arkadiusz Babczuk, Andrzej Dudek - The Forms of Auctioning Treasury Securities

The article discusses methods used in auctioning Treasury securities in Poland. Treasury auctions are widely used by authorities responsible for the management of public debt. The authors of the paper set out to identify auction mechanisms that maximize the expected income of the seller. The paper shows the effects of the single- and multiple-price auction systems in Poland. The authors use a research method developed by G.R. Kim, S. Oh and K. Ryu. Babczuk and Dudek conclude that the single-price auction system is safer for the issuer because revenue from single-price auctions is in most cases higher than that generated from multiple-price auction systems. At the same time, due to imperfect research methods, especially in estimating the issuer’s revenue from a single-price auction system, further in-depth studies are needed into methods for carrying out auctions for T-securities in Poland, the authors conclude.

Keywords: Treasury securities, auction, single-price/multiple-price auction systems
Article: PDF

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