"Emerging Markets: Social, Political, and Economic Challenges"

Cairo, Egypt, July 2004

Stanislaw Rudolf (ed) Price: 35 PLN (Hardback) Publication date: 3 July 2004 2 volumes, 570 pages numerous tables and figures 234mm x 156mm ISBN 83-7171-748-2 ISBN 83-7171-750-4 The book is available to buy at: University Press of Lodz phone: +(48 42) 633 16 71 e-mail: wdwul@uni.lodz.pl

Contents

Introduction (Stanislaw Rudolf) 5

PART I. GLOBALISATION AND EMERGING MARKETS

1. Lease Market Structure in Russia: Sources of Market Power (Almira Yusupova) 11
2. Inflation and Unemployment as the Significant Barriers in the World Economy - General Trends (Janusz Skodlarski, Rafał Matera) 19
3. Fiscal Policy Constraints and Challenges for a Small Open Economy: The Case of Barbados (Daniel Boamah, Darrin A. Downes) 31
4. Saving, Investment, Growth and the Impact of International Financial Liberalisation in the Caribbean (Carlos Holder, Kevin Greenidge) 45
5. Restructuring of Mexican Automotive Industry using Continuous Improvement Management (Mariusz Bednarek) 59
6. Regional Competitiveness: the Need for Coordination Between Public and Private Actions (Antonio Loyola Alarcón) 67
7. Global Aspects of the New Transatlantic Marketplace Formation (Katarzyna Czerewacz) 97
8. The Model of Nordic Regional Integration in the Context of Globalisation Process: Historical Approach and Current View (Rafał Matera) 111
9. Economic Development, Social Capital and Welfare State (Helje Kaldaru, Kaie Kerem) 123
10. The Perspectives of Establishing FTAA (Free Trade Area of Americas) in the Context of NAFTA’s (North American Free Trade Agreement’s) Experience (Paulina Matera) 153
11. International Accounting Standards Do We Need Them? (Marc Massoud) 165
12. Accounting and Economic Development (Marc Massoud) 179
13. What did produce Long-run Economic Growth?: Is it not Education-related Brainpower Capacity Growth? (Venkareddy Chennareddy) 189
14. Regional Farm Business Bankruptcies In The United States: A Generalized Pooled Time–Series And Cross-Section Econometric Analysis – Parks Method (Venkareddy Chennareddy) 217
15. The Class Conflict Model: An Empirical Analysis (Barrington K. Brown) 237
16. The Class Conflict Model: Some Additional Remarks (Barrington K. Brown) 245
17. Transatlantic Disputes during War in Iraq - Influence on the Relations within Europe (Paulina Matera, Rafał Matera) 251

PART II. EMERGING MARKETS IN EUROPEAN UNION

18. Virtual Enterprise – Opportunities And Barriers (Wiesław M. Grudzewski, Irena K. Hejduk) 273
19. Virtualisation of Settlement Services – Virtual Accountancy Bureaus (Mariusz Pudło) 287
20. The Effect of European Integration to Payment Intermediation in Baltic Countries (Jelena Hartšenko) 297
21. Different Types of Atypical Employment and Work Organisation (Stanisława Borkowska) 305
22. Government Agencies’ Behavior and Their Influence on the Quality of Business Environment (Tatjana Polajeva, Vello Vensel) 331
23. The Economic Activation Programme Addressing Older Persons in Poland – Threats and Opportunities (Bogusława Urbaniak) 357
24. Growing Dynamics of Employee Participation in the European Union (Stanisław Rudolf) 379
25. Standardisation of the European Industrial Relations in the Field of Employee Participation (Katarzyna Skorupińska) 399
26. Development of Industrial Location in Estonia during the Integration into the EU (Grigory Fainstein) 413
27. Using Econometric Models for Forecasting the Amount of the Banking Services (August Aarma, Jaan Vainu) 431
28. Sustainable Development in the Political and Economic Strategies of EU Member Countries (Piotr Bartkowiak) 437
29. Determinants of Productivity of Labor in Industry in Poland (1996–2001) (Paweł Kaczorowski, Maciej Kozłowski) 451
30. Does CEO Compensation Reflect Performance or Size. An Empirical Test on Polish Public Companies (Piotr Urbanek) 473
31. The Influence of Human Capital on Corporate Innovativeness (Aneta Przybylska) 483
32. Convergence of Health Care Expenditure in CSE Countries to EU-15 Average Level (Kaie Kerem, Tiia Püss, Mare Viies) 493
33. The Comparative Analysis of Public Expenditures on Health Care in Poland and EU making Allowances for National Health Account Principles (Agnieszka Strzelecka) 513
34. TNC Strategies and the Effects of its Presence in Lodz (Bogna Gawrońska-Nowak, Grzegorz Walerysiak) 531
35. The New Solutions in Law on Corporate Bankruptcy and Reorganisation in Poland (Jerzy Lech Czarnota) 557
36. Credit Constrained Households in Estonia (Marge Sults) 563

The Proceedings of the Thirteenth Annual Convention

Lisbon, PORTUGAL

TABLE OF CONTENTS

ESTONIA
GLOBALIZATION, FISCAL STABILITY AND GROWTH

1. VELLO VENSEL – Estonia in the Globalizing World: Experience of a Successful Privatization (pp. 1-18)
2. KAIE KEREM – Fiscal Reforms During the Transition Process: The Estonian Case (pp. 19-36)
3. MART SORG, URMAS VERBLAME – Estonian Banks Entry to the Foreign Banking Markets (pp. 37–53)
4. MARGE SULTS – Government Impact on Allocation of Household Income: Between Consumption and Saving (pp. 54–62)

USA
RESEARCH AND METHODOLOGICAL ISSUES

5. VENKAREDDY CHENNAREDDY – A Pooled Cross–Section and Time–Series Socioeconometric Analysis of Automobile Accident Fatalities in the US (pp. 66–73)
6. VENKAREDDY CHENNAREDDY – Suicides in the United States: A Generalized Pooled Cross–Section and Time–Series Econometric Analysis – Parks Method (pp. 74–85)
7. VENKAREDDY CHENNAREDDY – Regional Intensities of Attractiveness to Various Types of Industries and Foreign Countries and Industry Type and Foreign /country Participation Intensities of Foreign Direct Investments in the United States (pp. 86–99)
8. VENKAREDDY CHENNAREDDY – The Long–Term Effect of Personal Bankruptcy Laws on State Level Personal Bankruptcy Filings and a Plea for Revision of National 1994 Personal Bankruptcy Law (pp. 100–116)

HUMAN CAPITAL AND CONFLICT

9. BARRINGTON BROWN – The Class Conflict Model: Theory and History (pp. 117-146)
10. BARRINGTON BROWN – Application of the Conflict Model: The Nature and Causes of Conflict (pp. 147-154)

POLAND
KNOWLEDGE MANAGEMENT AND COMPETITIVE INTELLIGENCE

11. WIESŁAW GRUDZEWSKI, IRENA HEJDUK – The Knowledge Management as a Basis for High Tech Companies` Activities (pp. 155-166)
12. WIESŁAW GRUDZEWSKI, IRENA HEJDUK – The Knowledge Management Systems Creation as a Basis for Achieving Competitive Advantage in Contemporary Enterprises (pp. 167-176)
13. WIESŁAW GRUDZEWSKI, IRENA HEJDUK – Virtual Organization As the Chance of Managing Small and Medium Enterprises (pp. 177-182)
14. ROBERT W. CIBOROWSKI – Innovativeness for Structural Change in Transition: The Case of Poland (pp. 183-198)

ISSUES IN POLISH MANAGEMENT

15. JERZY LECH CZARNOTA – The Profile of Polish Management System into the Company Insolvency (pp. 199-206)
16. ANNA RAKOWSKA – Competencies of Polish Managers in the Process of Transformation (pp. 207-221)
17. AGNIESZKA SITKO-LUTEK – Polish Business Culture in the Age of Globalization and Integration (pp. 222-235)
18. BARBARA POLSZAKIEWICZ – Stabilization Policy and the Opening up of the Polish Economy (pp. 236-245)
19. ANETA PRZYBYLSKA – Innovative Activity as a Factor of the Companies` Competitiveness Growth (pp. 246-251)

GLOBALIZATION, DIRECT FOREIGN INVESTMENTS AND ISSUES IN NATIONAL ECONOMICS

20. STANISŁAW RUDOLF – Employee Participation in International Level (european Works Councils) (pp. 252-268)

INNOVATION, CULTURE AND COMPETITION

21. ŁUKASZ SUŁKOWSKI – Corporate Culture as a Source of Competitive Advantage (pp. 269-279)
22. JAN WISNIEWSKI – Direct Foreign Investments and Their Influence on the Integration of Poland into Global Economy: Selected Problems (pp. 280-294)
23. ŁUKASZ SUŁKOWSKI – Examining Relations Between Corporate Culture and Communication System (pp. 295-298)
24. JAN JEŻAK – National Investment Funds Programme as an Element of Polish Transition Processi (pp. 299-308)

ISSUES IN ENTERPRENEURSHIP AND DIVERSITY

25. STEFAN LACHIEWICZ – The Small and Medium-Sized Enterprises in Poland (pp. 309-321)

GLOBAL ISSUES CONCERNING LABOUR

26. BOGUSŁAWA URBANIAK, STANISŁAWA BORKOWSKA – Labour Costs in the Process of European Integration (pp. 322-337)
27. STANISŁAWA BORKOWSKA, BOGUSŁAWA URBANIAK – Convergence Process on the Polish Labour Market (pp. 338-355)
28. BARBARA A. DESPINEY-ZOCHOWSKA ROSES – From Marshallian District to Localized Productive Systems. A Polish Case (pp. 356-378)
29. RAFAL MATERA, JANUSZ SKODLARSKI – The Origin of the World Economy: The Beginning of Globalization (pp. 379-391)
30. ELZBIETA SKRZYPEK – Influence of Knowledge and Intellectual Capital Management on the Value of Enterprise in the Decade of Globalization (pp. 392–403)
31. IRMELA GORGES – Public Opinion Research During the Nazi Regime in Germany 1939-1945 (pp. 404-415)

The Proceedings of the Twelfth Annual Convention

Las Vegas, Nevada, USA

TABLE OF CONTENTS

1. MAŁGORZATA GABLETA, MAGDALENA BILIŃSKA – Contemporary Problems in Human Resources Management and Trnds for Their Solutions (pp. 4–15)
2. VENKAREDDY CHENNAREDDY – Humanpower and Economic Prosperity in the United States, 1929–99 (pp. 16–31)
3. VENKAREDDY CHENNAREDDY – U.S. Direct Investments Abroad: A Generalized Pooled Cross–Section and Time–Series Econometric Analysis–Park Method (pp. 32–45)
4. EWA OKOŃ–HORODYŃSKA – Special Economic Zone – Is it an Effective Factor of the Sustainable Development in Transforming Countries? (pp. 46–58)
5. EWA OKOŃ–HORODYŃSKA – Innovative Enterpreneurship Development in Poland as a Key of a Global Competition (pp. 59–68)
6. JERZY PASZKOWSKI – Companies` Public Function Evolution in Poland (pp. 69–78)
7. STANISŁAW RUDOLF – Participative Management Forms and Development Prospacts in Polish Conditions (pp. 79–92)
8. CECYLIA SADOWSKA–SNARSKA – The Problems of the Labour Market in Poland (pp. 93–101)
9. WAGIHA TAYLOR – The Economics of Technology in Developing Countries (pp. 102–107)

The Proceedings of the Eleventh Annual Convention

London, ENGLAND

TABLE OF CONTENTS

1. VENKAREDDY CHENNAREDDY – Is Foreign Direct Capital Stock Conducive to Economic Growth in the United States.
2. VENKAREDDY CHENNAREDDY – Foreign Ownership of U.S. Assets by Advanced Country of Origin: A Generalized Pooled Cross-Section and Time Series Econometric Analysis-Park Method.
3. JOSEPH HORTON, BONNIE SELTING – Clustered Learning – An Innovation in Teaching English Composition and Political Economy.
4. ISMAIL SHARIFF – Will Emerging Globalization Stimulate Growth in the Developing Countries in the New Millennium?
5. VED P. DUGGAL – Capitalism, Globalization, Economic Policy, and the World Economic Situation.
6. STANISŁAW RUDOLF – Effectiveness of Corporate Governance in Polish Companies.
7. ZOFIA WYSOKIŃSKA, JANINA WITKOWSKA – Technical Competitiveness of Central and Eastern Europe within the Globalization Process.
8. VELLE VENSEL – Development of the Economic Environment and FDI into Estonia.
9. BALWANT SINGH, PETER KRESEL – Export Promotion and Financial Recovery in Emerging Economies.
10. ANNETTE FORTI – Styles of Teaching Economics for the New Economy.
11. JIRUI GU – Rise of Network Economy and its Potentiality in Chinese Market.
12. RICHARD A. COHN, BHARAT A. KOLLRI – The Interest Elasticity of Savings in the G-7 Countries.
13. KAZIMIERZ MEREDYK – Institutions of Economic Growth in Poland: 1991-2000.
14. WILIAM R. WARNE � Lessons Learned from the Korean Financial Crisis.
15. AL. MICKENS – Financial Crisis and the Role of Debt: Observation an Hyman Minsky.
16. SALIM QURESHI – A Taxonomy of Internet Marketing.
17. J. MICHAEL MORGAN, B. PERRY WOODSIDE – Market Vs Social Discount Rates: Applications and Implementations for 21st Century.
18. JOHN A. MAYER – Futures Roles for the IMF and World Bank: Proposals and Controversy.
19. M. HOSEIN ABGHARI – Nationalization and Islamization of Banking in Iran: Implications for Growth.
20. EIMAN ZEIN–ELABSON Agriculture and Forest Management in Zimbabwe.

The Proceedings of the Tenth Annual Convention

Tallinn, ESTONIA

TABLE OF CONTENTS

EDITORIAL NOTE

1. HAROLD CODRINGTON – Social Partnership in Economic Development: Lessons from the Barbados Experience (pp. 2-22)
2. CLARENCE M. CONDON AND J. MICHAEL MORGAN - Do Prices Have a Role to Play in the Allocation of Human Organs for Transplantation? (pp. 29-46)
3. ULO ENNUSTE – On the Estimation of the Determinants of the Estonian Economic System and Harmonization Indexes: An Estonian Illustration for 1987–1999 (pp. 47-66)
4. WEI GE – From Export-Processing Zone to Export-Led Growth: The role of Technological Learning (pp. 67-86)
5. IRMELA GORGES – The Public Debate on Immigration and Citizenship in Germany with Particular Attention to Berlin (pp. 87-96)
6. JOSEPH HORTON – Nicholas Copernicus: Political Economist (pp. 97–106)
7. KAIE KAREM, MARE RANDVEER – The Role of Human Capital in the Economic Growth in Estonian Economy (pp. 107–118)
8. EDWARD C. KOZIARA, CHIOU–SHUANG YAN – Comparative Advantage and International Trade (pp. 119–134)
9. EDWARD C. KOZIARA, CHIOU–SHUANG YAN – President Clinton, Economic Performance, Political Business Cycles and the Dow (pp. 134-144)
10. EDWARD C. KOZIARA, CHIOU-SHUANG YAN – The Euro: Problems, Potential and Very Earlier Experience (pp. 145–154)
11. PETER K. KRESL, BALWANT SINGH – Financial Crises and Recovery in the Emerging Economies (pp. 155–164)
12. JOHN MEYER AND HILLAR NEUMANN JR. – Model Legislation to Limit Foreign Aid and IFI Development Assistance to Systematically Corrupt Nations (pp. 165–182)
13. ALARI PURJU – Recent Macroeconomic Developments in Estonia and Foreign Trade (pp. 183–210)
14. TIIA PUSS – Development of the Social Protection System: The Case of Estonia (pp. 211–220)
15. STANISLAW RUDOLF – Corporate Governance Effectiveness of Stakeholders` Influence on the Company's Effects (pp. 221–236)
16. JYRI SEPP, RALPH M. WROBEL – The Limits of Information Policy in a Market Economy: The Case of Estonia (pp. 237–242)
17. FRITZ G. STEYN – The Relationship Between Labour Market Institutional Changes and Labour Market Outcomes in South Africa Since 1994 (pp. 243-258)
18. MART SORG, VELLO VENSEL – Experience of Operating the Currency Board Arrangement in Estonia (pp. 259–278)
19. LISA WILDER, MARY ELLEN BENEDICT, MARE VIIES – Gender Differences in Earnings in Estonia (pp. 279–299)

The Proceedings of the Ninth Annual Convention

BARBADOS

TABLE OF CONTENTS

EDITORIAL NOTE

1. WINSTON A. COX – Address by Winston A. Cox Governor Central Bank of Barbados to the Congress of Political Economists (COPE) Luncheon at the Sherbourne Conference Centre (pp. 1-4)
2. HIROYA AKIBA – Role of Expectation in Commodity Futures Markets (pp. 5-20)
3. DERRICK GONDWE, MWANGI WA GITHINJI – Income Distribution in Malawi (pp. 21-36)
4. HILLAR NEUMANN, JOHN MEYER – Currency Boards: An Anchor for Economic Stability? (pp. 37-49)
5. STANISŁAW RUDOLF – Employee Participation Forms in European Transnationals (European Works Council) (pp. 50-69)
6. VELLO VENSEL – Banks Performance in Emerging Markets Economies (pp. 70-88)
7. JANINA WITKOWSKA – Adjustment Processes in the Field of Capital Movements Between Poland and the European Union in the Prospect of Poland´s Accession to the EU (pp. 89-100)
8. ZOFIA WYSOKIŃSKA – Effects Brought by the CEFTA for Poland´s Foreign Trade in Industrial and Agricultural Products (pp. 101-128)

The Proceedings of the Eighth Annual Convention

Łódź, POLAND

TABLE OF CONTENTS

FOREWORD (pp. 7–8)

PART I

SOCIAL AND ECONOMIC PROBLEMS OF TRANSFORMATION

1. WALI I. MONDAL – Privatization and Growth of New Bussines in Poland (pp. 11–26)
2. STANISLAW RUDOLF – Role and Position of Corporate Governance in Transition Economy (pp. 27–42)
3. JANINA WITKOWSKA – Determinants of Foreign Direct Investment in Poland. Empirical Research Results (pp. 43–54)
4. ZOFIA WYSOKIŃSKA – Adjustment Processes in the Polish Economy in the Context of the European Integration (pp. 55–68)
5. FAOUZI RASSI – Financial, Economic and Other Reform in Selected Emergin Countries in Transition (Mainly in Bulgaria) (pp. 69–80)
6. BELA MUKHOTI – Economics of Land Reform in Russia and Ukraine (pp. 81–96)
7. ROBERT WARNE – Asia`s Expanding Role in Central Europe: the Korean Experience (pp. 97–108)
8. ANDRE C. JORDAN – Structural Adjustment and the African Alternative Versus the South African Approach (pp. 109–120)
9. CHRIS HARMSE – Economic Systems Approach and Economic Transition in Post Apartheid South Africa (pp. 121–132)
10. FRANKLIN Y. HO – Community Enterprises in Economies in Transition (pp. 133–140)

PART II

PROBLEMS OF ECONOMIC GROWTH AND DEVELOPMENT

11. JAMES N. BLIGNAUT – Economic System Approach: A South African Application (pp. 142–156)
12. YOLANDA JORDAAN – The Influence of Social and Technological Developments on Direct Marketing in South Africa (pp. 157–170)
13. NIEK SCHOEMAN – The Evolution of Economic Thought on Public Finance. Is South Africa on Track ? (pp. 171–180)
14. WINSTON H. GRIFFITH – Caribbean Monetary Integration (pp. 181–198)
15. EDWARD C. KOZIARA, CHIOU–SHUANG YAN – Clinton and Political Business Cycles: is the Pattern Maintained? (pp. 199–210)
16. CHIOU–SHUANG YAN, EDWARD C. KOZIARA – Trade Pattern and Divergence of Exchange Rate from PPP in Europe (pp. 211–220)
17. JONG SEOK KIM – Korea`s Economic Development: Processes and Elements (pp. 221–236)
18. SUKHO SONU – Corporate Governance Systemin Korea: Issues and Remedies (pp. 237–248)
19. JAN PETER WOGART – The Fading East Asian Economic Miracle: Lesson of Transition (pp. 249–262)
20. IAN LAMBERT – George Versus George

PART III

SOCIAL, POLITICAL AND IDEOLOGICAL PROBLEMS

21. RICHARD WOODWARD – Management–Employee Buyouts in Poland (pp. 279–298)
22. MACIEJ KOZŁOWSKI – The Self–Managed Enterprise: Theoretical Principles (pp. 299–314)
23. JOUNG–WOO LEE – Korea`s Worker Participation in Internetional Perspective (pp. 315–326)
24. KEIKO MORITA – Strategic Ideologies with Empirical Illustrations from Japan and UK (pp. 327–336)
25. EDWARD C. KOZIARA, CHIOU–SHUANG YAN – Legal and Illegal Immigration and Unemployment in the United States (pp. 337–348)
26. J.W. SMITH – Elite–Protective, Social Control, Belief Systems (pp. 349–362)
27. ARLEN RICHARD LESSIN – The International Institute for Enterpreneurship Development and Its Potential Politico–Economic Impacts (pp. 363–366)
28. IRMELA GEORGES – The Historical School of National Economy and the Development of Methods of Sociological Research in the German Kaiserreich 1871–1914 (pp. 367–374)

CENTER FOR PARTICIPATIVE MANAGEMENT (pp. 375–376)
LIST OF PARTICIPANTS (pp. 377–378)