The local aspect of aging is often ignored. However, municipalities, in particular cities will be affected by the consequences of population aging, in particular a decrease in tax revenues and an increase of expenditures on public goods demanded by the elderly. In this paper we use a static general equilibrium model to analyse the impact of aging on city’s finances. We show that an increase in the number of pensioners will raise the cost of public goods. However, an increase in the number of working elderly can alleviate the situation.
Small and medium sized enterprises (SME) play an important role in the economies of numerous emerging economies. Despite the fact that the SME sector plays a significant role in the national economy it still suffers from the underdeveloped financial sector services. It results in the lower levels of indebtedness of private sector in Poland in relation to such emerging economies like Malaysia, Estonia or Chile. The commercial financial sector is inefficient in delivering funds to SME, the important role in this area is played by regional policy, especially supported from European regional funds. The distribution of development funds is realized with serious problems because SME are reluctant to financial sector services and besides typical grants, debt-type instruments meet serious problems. Polish SME are also reluctant to use support instruments aimed at developing innovations, R&D, and intellectual property (IP) protection. Imitation model of growth still dominates among Polish SME. To address this issue, in 2014 the University of Gdansk (UG) launched a project, supported by National Science Centre (NCN, governmental), on using behavioural interventions to increase the propensity of Polish SME to apply more ambitious development measures through support instruments. The research revealed, that the majority of tested behavioural interventions aimed at building friendly support environment proved to be efficient and increased the interest of SME in developmental activities.
One of the most critical aspects of mine design is to determine the optimum cut-off grade. Despite Lane’s theory, which aims to optimize the cut-off grade by maximizing the net present value (NPV), which is now an accepted principle used in open pit planning studies, it is less developed and applied in optimizing the cut-off grade for underground polymetallic mines than open pit mines, as optimization in underground polymetallic mines is more difficult. Since there is a similar potential for optimization between open pit mines and underground mines, this paper extends the utilization of Lane’s theory and proposes an optimization model of the cut-off grade applied to combined mining-mineral processing in underground mines with multi-metals. With the help of 3D visualization model of deposits and using the equivalent factors, the objective function is expressed as one variable function of the cut-off grade. Then, the curves of increment in present value versus the cut-off grade concerning different constraints of production capacities are constructed respectively, and the reasonable cut-off grade corresponding to each constraint is calculated by using the golden section search method. The defined criterion for the global optimization of the cut-off grade is determined by maximizing the overall marginal economics. An underground polymetallic copper deposit in Tibet is taken as an example to validate the proposed model in the case study. The results show that the overall optimum equivalent cut-off grade, 0.28%, improves NPV by RMB 170.2 million in comparison with the cut-off grade policy currently used. Thus, the application of the optimization model is conducive to achieving more satisfactory economic benefits under the premise of the rational utilization of mineral resources.
The paper attempted to define the basis of city transformations that conform to the smart concept. The objective of the paper is to relate the concept of a smart city, which is quite frequently discussed in literature related to the subject, with functioning and development of the city’s economy, in a way that would allow monitoring economic processes taking place in the city, and also to find a response to the question as to the extent to which the smart city creates a new city economy. Does it expand the city economy by new elements, generate new economic mechanisms, allow the implementation of growth paths different than those to date? This objective is particularised by a description of selected issues of urban economics. With this in mind the paper discusses an approach to managing supply and demand on the basis of theoretical assumptions defined by Mudie and Cottam (1993) transposed on realities connected with provision of municipal public services in conditions of a smart city. Furthermore, sample solutions were presented related to the smart city, which reflect theoretical conclusions contained in the paper. The paper ends with a presentation of logics related to growing economy in a smart city. The economy of a smart city, ultimately an intelligent economy of the city, is created in a laminar way. Under the pressure of technological, social and political surroundings the city is permeated by social and culture intelligence, forming gradually a new economic quality. In the paper we emphasised that the concept of a smart city still remains a question of the future to a much bigger extent than one of the present time. A smart city slowly emerges from the combination of diverse megatrends and development trends characteristic for communities and economies of the second decade of the 21st century.
The problem of regional diversity is the subject of a broad scientific discourse. The dynamics of territory development is connected with many factors. Among them, the so-called spaces for development opportunities of individual units and resiliance issues for external factors of regions. The author discusses the diversity of individuals from the point of view of these two factors. It indicates future directions of regional research, which will show why regions at the start with potentially the same structure are developing completely differently and why in most cases resistance is associated with innovation and in the case of Polish regions it is not.
The approach of a unilateral impact of the financial sector on economic growth was invalidated by the last financial crisis which very quickly changed into a global economic crisis.
The aim of the study is the analysis of the impact of the financial sector on economic growth in the context of the growing phenomenon of financialization, which was one of the significant reasons of the financial crisis. The study was focused on presenting the growing scale of this phenomenon and analysing the impact of money supply in USD and EUR on world GDP and the GDP of the USA and the Eurozone. The following hypothesis was postulated: the growing process of financialization causes the growth of the USD and EUR supply, influencing changes in the world GDP, the GDP of the USA and the Eurozone. The study confirmed the hypothesis of the relation of the money supply with changes in economic growth. However, influencing economic growth with the money supply causes the purchasing power of business entities to decrease and causes growing debt. Furthermore, it does not contribute to the strength of the real economy. A repair of the current “system“ should not be sought for in constantly increasing macroprudential regulations, but in a return to a country’s interventionism, leading to a change in the priorities of the actions of financial institutions; mainly banks, and the supply of money based on fixed parities (gold, energy).
This study examines the impact of monetary policy on economic growth in Ukraine between 2006 and 2019. After the stationarity and co-integration tests, a vector- autoregressive model (VAM) was used to estimate the impact of monetary factors on economic growth in Ukraine. The research results show that GDP changes are largely explained by its own earlier dynamics, but in the long-run real GDP quite strongly depends on the money supply, exchange rate against euro, and basic interest rate. At the same time GDP is weakly dependent on the exchange rate against US dollar, CPI and PPI, the volume of loans to business and external debt. The authors explain their findings and compare them with several other empirical studies on the subject concerning some other countries.
The paper presents the results of the energy analysis of the conversion of solar radiation energy into electrical energy in Polish weather conditions. The effect of sunlight and working temperature on the photovoltaic module on its power curve P = f(U) is shown. STC and NOCT conditions are described for which the manufacturers specify the parameters of the photovoltaic modules. The manufacturers of photovoltaic panels should give the PPV = f(E) characteristic for the different values of the operating temperature of the modules. An analysis of the economic efficiency of a photovoltaic power plant investment of 1 MWp taking the current legal regulations for the three variants into account was presented. Variant I – the investor benefits from the support of public aid of operational only, Variant II – the investor benefits from the support of public aid for investment in the amount of PLN 1 million, Variant III – the investor benefits from the support of public aid for investment in the amount of PLN 2 million. For all variants, indicators for assessing the economic effectiveness of the investment and the value of the auction price from the maximum price to the price at which the project loses its profitability are determined.
The aim of the article is to present the problem of revitalization of marketplaces in the context of the challenges they face in contemporary socio-economic conditions. This issue was developed based on desk research and inquiry conducted on a representative marketplace in Gdańsk Oliwa. They served to formulate guidelines for the implementation project aimed at improving the image and economic condition of traditional marketplaces in Poland. Despite significant importance for the local economy, traditional marketplaces are not able to compete with shopping malls and shopping centers, as a result of which they become unsustainable. The ongoing degradation of marketplace areas reduce their attractiveness and role they play in public spaces network. The authors of the project recognize that the solution to the issue of marginalization of traditional marketplaces is to strengthen their image in both physical and media realms. One of the proposed solutions is institutional support for marketplaces by non-governmental organizations involved in the revitalization and aestheticisation of urban areas.
The activity of territorial self-government shaped institutionally during the development process is characterized by a significant scope of care for the financial situation, which determines the efficiency of its functioning. The general availability of public services is a condition for the assessment of the activities of municipalities (powiats, voivodeships). Institutional economy as a real one, takes into account an integrated point of view. The aim of the study is to present the territorial differentiation of the eff ectiveness of communes’ activities in the context of institutional economics and to present the possibility of using a synthetic measure in this process. The synthetic measure of development fluctuated within the limits of 0.30 – Wąchock (Starachowice poviat, urban-rural commune) to 0.41 – Ostrowiec Św. (Ostrowiecki poviat, urban commune) in 2009, 0.32 – Łączna (Skarżysko poviat, rural commune) to 0.40 – Starachowice (Starachowice poviat, municipal commune) in 2015. The results of the analysis confirm the existence of small differences in the assessment of development communes of the Kamienna Basin. This approach allows the assessment of municipalities using one size and allows you to organize the analyzed objects in terms of the considered phenomenon.
The aim of the article is to present international economic integration as one of the mega trends that infl uence on the redefi nition of the factors of socio-economic development. The research procedure includes three stages. In the fi rst stage, the most important modern mega trends of socio-economic changes are organized in a synthetic way. In the second step, the genesis and changes of the process of international economic integration are elaborated. In the third stage, the infl uence of international economic integration on the changes of factors of socio-economic development is systematized. This study is being carried out as part of the FORSED research project (http://www.forsed.amu.edu.pl) fi nanced by the National Science Center as part of OPUS competition 10 – 2015/19/B/HS5/00012: New challenges of regional policy in shaping the socio-economic development factors of less developed regions.
The aim of the article is to analyse the spread and diffusion of socio-economic development in Poland in 2004-2016, while considering spatial aspects. Using the linear ordering method in the non-pattern version, a synthetic development measure for all municipalities in Poland was built based on a set of 77 features illustrating various socio-economic aspects, reduced to 25 features. For the measure constructed in this way, the convergence of the beta and sigma type has been examined, divided into 3 groups of municipalities (rural, urban and urban-rural), as well as in regional division. Using the methods of spatial econometrics, the occurrence of spatial effects was examined, in particular the attention was paid to the relationship between the processes of spreading development and spatial forms of diffusion of development. The analysis also allowed to determine the strength of local impacts of spatial connections between individual municipalities.
The aim of the paper is to present the metropolis of Wroclaw with special emphasis laid upon its socio-economic development. Starting with a concise presentation of the history of the city after the political and economic transition, we subsequently carry out a descriptive analysis of the economic development of Wroclaw and its specifics. It provides us with a grounding to highlight what a development narrative of the metropolis has been up to now and how it should be shaped in the future. Further on, we present the main challenges for the development path of Wroclaw. With obtained outcomes we clearly show that the Wroclaw metropolitan area distinguishes itself against the background of Krakow, Poznan and Szczecin in terms of its development. However, the current development narrative seems to be coming to an end which implies a comprehensive policy feedback.
The article presents scientific achievements of Alfred Nobel Memorial Prize Laureates in economic sciences in 2019: Esther Duflo, Abhijit Banerjee, and Michael Kremer. The paper describes their contribution to the research on the sources of poverty in the world and the ways of alleviating it, and their contribution to the development of experimental research in social sciences using randomized control trials (RCT). In this context, the authors explain the reasons for growing popularity of this approach in development economics and discuss its strengths and weaknesses.