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1 – 10 of 26Katarzyna Szarzec, Dawid Piątek and Bartosz Totleben
At the beginning of the 1990s, the Polish economic situation was extremely difficult: high public debt, shortages, high inflation and more than 8,000 state-owned enterprises…
Abstract
Research Background
At the beginning of the 1990s, the Polish economic situation was extremely difficult: high public debt, shortages, high inflation and more than 8,000 state-owned enterprises (SOEs) waiting to be restructured and/or privatised; along with a GDP per capita lower than in Ukraine.
Purpose of the Article
This chapter provides an overview of the Polish economic transition, and presents the results of this process, taking into account four aspects of the changes, i.e. stabilisation, liberalisation, institutional reforms and privatisation. Special attention is paid to intentionally unfinished privatisation and the still significant role of state-owned enterprises, which have remained important economic agents.
Methodology
Critical analyses were made of the literature dedicated to the economic transition and of the role and characteristics of state-owned enterprises. Empirical evidence is drawn from original datasets about the scale of SOEs in the contemporary economy and rotations in management and supervisory boards in Polish joint-stock companies.
Findings
Despite the unfavourable initial conditions, Poland soon emerged as a leader in economic growth, successfully stabilising, liberalising and privatising its economy. The institutional foundations of a democratic market economy were consistently built, and the applications for membership in the OECD, the EU and NATO were an important driver of institutional reforms. In terms of state institutions, political and economic freedom and quality of governance, Poland is more similar to the G7 countries than to the other post-socialist countries, though the need to maintain high-quality state institutions is still a priority. The significant share of SOE is regarded as a challenge of the Polish economy because state-owned enterprises are an object of rent-seeking by politicians and political parties.
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Joaquín Arriola and Juan Barredo-Zuriarrain
Weak regional commercial and productive integration and monetary dependence on the economic poles are evidence of the consolidation of Latin America's peripheral position in the…
Abstract
Weak regional commercial and productive integration and monetary dependence on the economic poles are evidence of the consolidation of Latin America's peripheral position in the world economy. This research analyzes different monetary initiatives launched individually or collectively by countries in the region to alleviate this position, such as the petro, the SUCRE, or El Salvador's bet on the legal acceptance of bitcoin as a payment instrument. After identifying some of their limitations, we propose some basis for monetary coordination with which to advance in the dynamization of productivity and trade complementarity of the countries of the region.
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Hugo Iasco-Pereira and Rafael Duregger
Our study aims to evaluate the impact of infrastructure and public investment on private investment in machinery and equipment in Brazil from 1947 to 2017. The contribution of our…
Abstract
Purpose
Our study aims to evaluate the impact of infrastructure and public investment on private investment in machinery and equipment in Brazil from 1947 to 2017. The contribution of our article to the existing literature lies in providing a more comprehensive understanding of the presence or absence of the crowding effect in the Brazilian economy by leveraging an extensive historical database. Our central argument posits that the recent decline in private capital accumulation over the last few decades can be attributed to shifts in economic policies – moving from a developmentalist orientation to nondevelopmental guidance since the early 1990s, which is reflected in the diminished levels of public investment and infrastructure since the 1980s.
Design/methodology/approach
We conducted a series of econometric regressions utilizing the autoregressive distributed lag (ARDL) model as our chosen econometric methodology.
Findings
Employing two different variables to measure public investment and infrastructure, our results – robust across various specifications – have substantiated the existence of a crowding-in effect in Brazil over the examined period. Thus, we have empirical evidence indicating that the state has influenced private capital accumulation in the Brazilian economy over the past decades.
Originality/value
Our article contributes to the existing literature by offering a more comprehensive understanding of the crowding effect in the Brazilian economy, utilizing an extensive historical database.
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ARGENTINA: Economy will decide Milei's support
Details
DOI: 10.1108/OXAN-ES285354
ISSN: 2633-304X
Keywords
Geographic
Topical
ARGENTINA: Milei takes office warning of pain to come
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DOI: 10.1108/OXAN-ES283937
ISSN: 2633-304X
Keywords
Geographic
Topical
This followed a cyberattack at the airport that promulgated a warning against Shia political-military movement Hezbollah and its escalation against Israel. The Forces of Change…
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DOI: 10.1108/OXAN-DB284528
ISSN: 2633-304X
Keywords
Geographic
Topical
This is despite the efforts of a succession of US presidents and Venezuelan opposition leaders, and despite the US sanctions regime. Given his record of victories against external…
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DOI: 10.1108/OXAN-DB284579
ISSN: 2633-304X
Keywords
Geographic
Topical
Milei met National Security Advisor Jake Sullivan, while his team met the Treasury and IMF to present a structural adjustment plan. Likely Foreign Minister Diana Mondino also…
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DOI: 10.1108/OXAN-DB283702
ISSN: 2633-304X
Keywords
Geographic
Topical
Camilo Antonio Mejia Reatiga, David Juliao and Andres Castellanos
This case study seeks to develop the analytical and critical thinking skills of the students so that they can not only understand and carry out a comprehensive diagnosis of the…
Abstract
Learning outcomes
This case study seeks to develop the analytical and critical thinking skills of the students so that they can not only understand and carry out a comprehensive diagnosis of the case in its facets of entrepreneurship but also see reflected the inherent difficulties of the process and how these can be overcome, based on available resources and capabilities. In the same way, it seeks to develop students’ capacity for critical analysis when making a decision in which, on the one hand, there is a very large market potential that they can try to exploit, taking into account the political transformation that modifies the rules of the game with which the business began, in addition, of course, to the case of a security breach specified in the case and, on the other hand, the possibility of resigning, avoiding greater losses.
Case overview/synopsis
This case study exposes the situation of the company Max Drone Venezuela, which had been dedicated to the service, repair and training of drones. This family-owned company had gone through a series of stages that clearly exemplified how environmental factors served to identify opportunities in the early stages of the business, promote strategic actions to maintain itself, guide the course to sustain itself and seek development in hostile environments.
Complexity academic level
Given the characteristics of this case study, it can be used for the teaching and learning of business or business administration, marketing, economics or related students, at higher or postgraduate levels (graduate school).
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS3: Entrepreneurship.
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