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Contents of issue 7-8/2005

Krzysztof Kostro - Social Capital in Economic Theory, summary, article

Marcin Kalinowski - The Economic Premises of Lobbying in Light of the Public Choice Theory, summary, article

Katarzyna Kowalska - Contracts and Transaction Costs in New Institutional Economics, summary, article

Jacek Socha - Demand for Labor in Medium-Sized and Large Enterprises in Poland’s Manufacturing Industry in 1996-2003, summary, article


EUROPEAN INTEGRATION

Joanna Siwńska - The Influence of Fiscal Policy on Household Consumption in the European Union, summary, article

Mieczysław Kowerski - The Influence of Poland’s EU Accession on Business Sentiment in Lublin Province, summary, article


CONFRENCES - POLEMICS - REVIEWS

Book Review: Małgorzata Kulowa (ed.), Czesław Bobrowski - mistrz ekonomii stosowanej (Czesław Bobrowski: A Master of Applied Economics), Wydawnictwo Uniwersytetu Warszawskiego WUW, Warsaw 2004, 210 pp. - reviewed by Tadeusz Smuga

Enterprise Bankruptcy in Poland - Tadeusz Smuga





Krzysztof Kostro - Social Capital in Economic Theory

The article analyzes the concept of social capital popular in social sciences in recent years. The author outlines the theoretical frameworks of the concept and reflects on the importance of social capital for economic analysis. The first part of the article presents definitions, various interpretations and research into social capital. The next part shows the different approaches adopted by researchers such as Bourdieu, Coleman, Putnam and Fukuyama. Further on, the article refers to the discussion on the economic significance of the term (according to economic terminology) and presents several methods to measure it. It then examines the issue of social capital in the context of economic research and presents conclusions on the influence of this factor on economic systems. The article ends with concluding remarks about the "dark side" of social capital, or its negative effects on society and the economy.

Article: PDF



Marcin Kalinowski - The Economic Premises of Lobbying in Light of the Public Choice Theory

The author analyzes the key factors that determine the effective functioning of pressure groups in democratic societies. The starting point for the research into the mechanism of the division and redistribution of public goods is the "political influence market" paradigm whereby consumers, taxpayers and organized pressure groups represent the demand side, and elected politicians and appointed officials are the supply side. The asymmetry of political information leads to a greater bargaining power of pressure groups, which secure specific economic benefits at the expense of the rest of society. Law makers tolerate lobbying because they are motivated by private political gains. The author extensively discusses the collective action model of Mancur Olson, showing the logic of group choices. The theoretical considerations presented in the article are based on the research achievements of the “school of public choice.”

Article: PDF



Katarzyna Kowalska - Contracts and Transaction Costs in New Institutional Economics

The aim of the article is to review and systematize concepts used in an approach known as new institutional economics (NIE). The considerable development of NIE reflects the growing interest in the functioning of markets and enterprises under information asymmetry and non-cooperative market player behaviors. The negative effects of information asymmetry can be reduced or completely eliminated with the help of institutional solutions. The article focuses on contracts and transaction costs. The author argues that the key role of contracts is to enable maximum savings of resources and their allocation to areas with the highest rates of growth. This approach leads to reduced transaction costs and is a viable measure of the effectiveness of business contracts.

Article: PDF



Jacek Socha - Demand for Labor in Medium-Sized and Large Enterprises in Poland’s Manufacturing Industry in 1996-2003

Using a collection of statistical data from Polish manufacturing enterprises, the author has developed a dynamic model of demand for labor. His analysis indicates that the demand for labor in enterprises can be defined by means of a standard function where the number of employees depends on labor costs and the demand for an enterprise’s products. The research shows that the influence of capital costs is low or statistically insignificant. Data used by the author covered the 1996-2003 period and made it possible to check hypotheses about changes in parameters over time. The results obtained show that enterprises, as a result of a slump in the economy, were forced to undergo deep restructuring. This chiefly occurred through adjustments in employment.

Article: PDF



Joanna Siwńska - The Influence of Fiscal Policy on Household Consumption in the European Union

The influence of fiscal policy on economic trends is a disputed issue in both theoretical and empirical terms. Theoretical considerations on the short-term influence of fiscal policy on aggregate demand feature three basic approaches: Keynesian, neoclassicist-based on the theory of permanent income-and one tentatively referred to as „non-Keynesian” or „nonlinear.” According to this last hypothesis, the effects of fiscal policy may be nonlinear, which means that the same policy may produce different results if applied in different conditions.
These different theoretical predictions about the effects of fiscal policy result from different approaches to the response of consumers to fiscal policy changes. The article sets out to examine the influence of fiscal policy on household consumption in developed European Union countries.
The article is made up of two main parts, a theoretical part that presents models applying to the short-term influence of fiscal policy on private consumption, and an empirical part that describes the results of the author’s own research into this problem. Conclusions presented in the article indicate that the influence of fiscal policy modifications on consumption may be nonlinear. When the public finance deficit is excessive, the influence of fiscal policy changes is Keynesian in nature. This means that a reduction of the deficit leads to a decrease in consumption and the other way round. When the public finance balance is upset, the influence of fiscal policy on consumption is much smaller.

Article: PDF



Mieczysław Kowerski - The Influence of Poland’s EU Accession on Business Sentiment in Lublin Province

The article shows that business sentiment measured with general economic and sector barometers in Lublin province in 2004 was influenced by Poland’s accession to the European Union. In the second quarter of 2004, mood in the corporate sector was much better than suggested by forecasts taking into account long-term trends. A similar trend, though less intense, was noted in the third quarter. However, that optimism was short-lived. In the fourth quarter, business sentiment barometers were lower than predicted. This trend should be taken into account when analyzing business sentiment in the future.

Article: PDF

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