List of issues

Contents of issue 5-6/2006

Jacek Socha - The Creation and Loss of Jobs in the Polish Corporate Sector, abstract, article

Wojciech Jarecki - The Payback Period for Individual Investments in Higher Education, abstract, article

Radosław Owczarzak - The Measurement of the Advancement of Globalization Processes, abstract, article

Hanna Mizgalska - The Innovativeness of Small and Medium-Sized Enterprises in the Wielkopolska Region in 2001-2004, abstract, article


Edward Molendowski - Intra-Industry Trade Between CEFTA Countries and EU Member States, abstract, article


Zbigniewa Landau - Andrzej Grodek (1901-1959), abstract, article


Real Estate Funds in Poland - Sebastian Buczek

Book Review: Maria Johann, Polska-UE. Porównanie poziomu życia ludności (Poland-EU: A Comparison of Population Living Standards), Difin, Warsaw 2005, 143 pp. - reviewed by Marek Garbicz

The 19th Economic Knowledge Competition - Tadeusz Smuga

Jacek Socha - The Creation and Loss of Jobs in the Polish Corporate Sector

The article updates and broadens the existing body of knowledge on the creation and loss of jobs in Polish enterprises in 1996-2004. The author uses measures proposed by Davis (et al.) and a collection of data on the financial reporting of enterprises in the non-financial sector. He also calculates job creation and loss ratios. The study shows that average ratios for job creation and loss in the analyzed period ran at a relatively high level of 10.4 and 12.6 percent respectively. This indirectly shows that that the Polish labor market is relatively flexible and potential barriers only marginally apply to the creation and loss of jobs in enterprises. Moreover, the analysis shows that job flows are strictly related to economic growth. The research indicates that processes involving the creation and loss of jobs are characterized by considerable permanence. More than 80 percent of the jobs lost this year will not be recreated next year. On the other hand, in the case of job creation, only half the newly created jobs will be maintained next year.

Keywords: job creation, job loss, corporate sector, labor market
Article: PDF

Wojciech Jarecki - The Payback Period for Individual Investments in Higher Education

The author calculates the value of potential paychecks lost by those who enroll for college studies instead of starting a professional career directly after graduation from high school. The author also determines the total cost of university-level education depending on individual types of studies and economic sectors. He estimates the period after which the incomes of people with a secondary education and those with a university-level education will level out. The analysis applies to the years 2000-2004.
The amount of potential pay lost by college students was calculated by summing up the real remuneration of people with a secondary education in 2000-2004, considering the unemployment rate among people with a secondary education in the 15-24 age group. Total costs were determined by adding direct costs to pay lost. The payback period was calculated on the basis of the average 2004 pay of people with both a secondary and university-level education, considering the relevant unemployment rates and assuming steady geometric wage growth.
It turns out that the average payback period for investments in higher education is five years. The period tends to be longer for graduates of technological studies and shorter for economists, administration graduates and teachers.
The payback period is usually longer for studies with greater importance to the development of the economy (such as engineering) and the functioning of society (medicine and education). A short payback period is noted for investments in economic studies, which confirms the rationality of the choices made by many high-school graduates.

Keywords: investment, higher education, payback period
Article: PDF

Radosław Owczarzak - The Measurement of the Advancement of Globalization Processes

The article sets out to present a set of instruments to measure the advancement of globalization processes at the mesoeconomic level. This necessitates efforts to bring order to terminology involving the microeconomic aspects of globalization. The author offers an analytical arrangement for the examination of the influence of globalization processes on enterprises.
The proposed instruments to measure the advancement of globalization processes at the mesoeconomic level are an attempt to straighten out the terminology and outline general rules and directions of further research, which should serve both company managers and researchers.
The data presented by the author show the scope and dynamism of globalization and provide an analytical framework to determine the effect of globalization processes on enterprises. The proposed methods of measurement indicate the importance of knowledge about the advancement and dynamism of globalization in the sector as well as the formulation and implementation of enterprise strategies.
The diagnosis of the advancement of globalization processes in Wielkopolska’s manufacturing industry confirmed the usefulness of the developed method. The analysis points to a clear intensification in the effect of globalization on enterprises in the Wielkopolska region in the analyzed period, coupled with a high probability of further intensification of globalization changes in the area of individual measures.

Keywords: measurement, globalization, mesoeconomics, enterprise
Article: PDF

Hanna Mizgalska - The Innovativeness of Small and Medium-Sized Enterprises in the Wielkopolska Region in 2001-2004

The study examines the innovativeness of small and medium-sized enterprises (SMEs) in the Wielkopolska region and factors influencing innovation in 2001-2004. The analysis is made against the background of changes in innovativeness and factors determining innovation in 1992-2000. The author used the results of surveys conducted among 163 SMEs in Wielkopolska in 2005. Overall, SME innovativeness did not increase in the analyzed period compared with previous yeas. The innovativeness of enterprises tended to grow with an increase in company size, the level of education of company managers (owners) and the age of the company. Companies using the Internet, especially those using it for sale and purchase transactions, displayed greater innovativeness. Innovation is restrained by scant financial resources, outmoded equipment and machinery, high business risk and the absence of an active pro-innovation policy pursued by the government.

Keywords: innovativeness, small and medium-sized enterprises, Wielkopolska
Article: PDF

Edward Molendowski - Intra-Industry Trade Between CEFTA Countries and EU Member States

The article aims to show changes in the level and intensity of intra-industry trade between the Central European Free Trade Association (CEFTA) and the European Union. The analysis covers the period from CEFTA’s inception to the time when most of its member countries joined the EU. The structure of trade was examined using the Gruber-Lloyd indices of intra-industry trade (IIT), which are frequently used in such analyses. The IIT indices were calculated for 5,712 products according to 6-digit CN classification divided into 31 sections.
The analysis showed that in 1993-2003:
- The Gruber-Lloyd intra-industry trade indices for CEFTA’s trade with EU countries increased considerably. The greatest increase was noted for Poland (85%), Romania (61%), the Czech Republic (54%) and Slovakia (43%), while the slowest growth in the IIT index was reported for Bulgaria (20%).
- The analyzed period marked a clear diversification in the growth of IIT indices by CN section in reference to individual countries. Countries with the lowest IIT indices (Bulgaria, Romania and Slovakia) modified the structures of their trade with EU countries to a greater extent than countries with relatively high indices.
- Another important change is that most countries displayed a tendency toward concentration of trade with the highest IIT indices in an increasingly smaller number of CN sections. Notably, there was also a “shift” in the concentration of the highest IIT indices toward sections 15-20, meaning those characterized by a relatively high level of innovation and technological advancement.

Keywords: level, intensity, intra-industry trade, CEFTA, European Union
Article: PDF

Zbigniewa Landau - Andrzej Grodek (1901-1959)

Andrzej Grodek’s life revolved around the Warsaw School of Economics. He studied at SGH and became a teacher after graduation. He worked as deputy manager and subsequently manager of the school library. He then was a professor and head of the Economic History Faculty only to become a pro-rector and finally rector. His main idea was to maintain the original character of the school, which was especially important in 1949-1956 when the school’s profile was modified to suit the educational priorities of the communist government. After the political thaw of 1956, Grodek, as rector, made successful efforts to restore the school’s original academic character. In addition to his achievements as the school’s manager, Grodek was an eminent economic historian and a researcher of the Polish economic thought of the 18th and 19th centuries. His pursued an extensive range of research interests and published many analytical and descriptive works on the history of economic theory and synthetic studies of economic history. These works contributed new ideas to our knowledge about the history of the Polish economy. Grodek’s interests also included the methodology of economic research.

Article: PDF

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