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Search Results: 1 - 10 of 21486 matches for " Simon Gy?rgy Jr. "
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Some questions of world economic competition
Simon Gyrgy,Simon Gyrgy Jr.
Medjunarodni Problemi , 2008, DOI: 10.2298/medjp0803257s
Abstract: The paper searches for an answer to the following questions: why had the situation in Japan and the European Union situation improved in comparison with the one in United States prior to the first oil price shock; what factors altered this tendency later, especially from the 1990s onwards; what was the role of the international economic conditions in all that? Applying the models of mathematical economics, the authors have proven their main statements by an econometric investigation. The most important conclusion that can be drawn is that in the world economic competition the situation both in Japan and the European Union was primarily determined by the changes in the world economic conditions, chiefly the oil prices in the world market and the exchange rates, what can less be said of the United States.
The Japanese economic enigma
Gyrgy Simon,Gyrgy Simon Jr.
Medjunarodni Problemi , 2005, DOI: 10.2298/medjp0504449g
Abstract: The subject of this article is the Japanese enigma: the long-lasting extraordinarily rapid economic growth, the so-called Japanese economic miracle, and then a very sharp set-back in the growth rate, the prolonged recession. The authors, using an endogenous growth model, have proven that an economic miracle did not happen in Japan either: the very rapid growth proceeded in conformity with the general regularities of economic development. The main cause of prolonged recession, according to the empirical results, is the currency shock, occurred on the basis of an international agreement in the mid-1980s, which decelerated the hitherto extremely dynamic development of Japanese exports, considerably retarding the main factor of rapid economic growth.
The impact of the British model on economic growth
Simon Gyrgy Jr.
Economic Annals , 2007, DOI: 10.2298/eka0775045s
Abstract: The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom. The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and the Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatization with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.
Technical progress and its factors in Russia’s economy
Simon Gyrgy Jr.
Economic Annals , 2010, DOI: 10.2298/eka1086007s
Abstract: In this paper long-term growth in Russia’s economy is viewed in the context of technical progress, based on both neoclassical and endogenous theories. The dynamics of economic growth with some aspects of catch-up development are examined, as well as capital deepening. TFP is quantified in terms of both output and productivity increases to reveal the leading role of embodied technical progress in productivity growth. An endogenous growth model helped to discern three complex factors of technical progress in the Russian economy, to which at the macro level a factor related to natural wealth (oil and gas resources) was added. This enabled the author to conclude that the most important macroeconomic factor of Russia’s technical progress in the half century from the early 1960s to the late 2000s was its immobile component. At the manufacturing level the situation was more complicated, as the initial leadership of creative technical progress was superseded by the dominance of the mobile factor. The collapse of the Soviet Union made the Russian economy more service-oriented and radically changed the conditions of economic modernization, in which technology transfer ensured by FDI began to play a more prominent part, particularly after the default of 1998.
On the customs union of Belarus, Kazakhstan and Russia
Simon Gyrgy Jr.
Economic Annals , 2010, DOI: 10.2298/eka1084007s
Abstract: The article gives a general overview of the process of forming a customs union among three Soviet successor states - Belarus, Kazakhstan and Russia. Following some theoretical considerations, the author outlines the evolution of the idea of customs union within the CIS. Thereafter, he analyses the economic situation in its member states, with particular emphasis on their structural problems, economic efficiency and trade characteristics. He comes to the conclusion that the foregoing results have not helped diversify the economic structure of its participants and lessen their import dependence. Moreover, the declining level of intra-trade does not bode well for the future of this organization, while the situation is further complicated by the negative impact of the present global crisis and increasing geopolitical rivalry in the region.
Ireland’s “economic miracle” and globalisation
Gyrgy Simon Jr
Medjunarodni Problemi , 2005, DOI: 10.2298/medjp0502005s
Abstract: The paper gives a comprehensive picture of fundamental issues connected with the Irish “economic miracle”, with especial regard to globalisation effect. The analysis of Ireland’s economic development in the period from 1960 to 2003 answers the question why it decelerated, instead of accelerating, for a long time: two decades after the accession to the European Community in 1973 and mainly the enigma, the “economic miracle” why the rate of growth accelerated in the decade after 1993 to an extent (on annual average to almost 8 percent) similar to that previously observed only in East Asia. The country has not only caught up economically with the European Union, but has approximated the level of development of the United States. The analysis shows that all this can be attributed not only to Ireland’s favourable conditions, but also to an adequate economic policy and foreign direct investment. The author reveals the so-called globalisation effect that in Ireland after 1993 had a decisive role in the extraordinary acceleration of economic growth.
Market reforms in Russia: Problems and prospects
Simon Gyrgy Jr.
Medjunarodni Problemi , 2004, DOI: 10.2298/medjp0403155s
Abstract: The author analyses the economic reforms that have been implemented in Russia since 1991. In his opinion initial attempts to introduce market reforms by applying the shock therapy and forced-pace privatisation of state-owned enterprises caused high political and social costs to the Russia’s fragile democracy. Therefore the radical reform policy was temporarily suspended while the transition to a market economy was proceeded inconsistently and often unevenly. After the acute financial crisis took place in August 1998 the reform policy has been given new impetus. In the last few years substantial progress has been made in the process of privatisation implementation of reforms in the financial sphere, energy sector, in the approach to the agriculture, in the employment policy, in making changes of the tax and pension systems. All these changes contributed to attaining the sustainable economic growth. The author concludes that for the persisting crisis in a number of areas, the future of the Russian market reforms still remains largely uncertain.
Economic growth in the European Union
Simon Gyrgy Jr
Medjunarodni Problemi , 2006, DOI: 10.2298/medjp0604387s
Abstract: According to the empirical results expounded in the paper, the European Union’s economic growth since the 1960s has proceeded in many respects in conformity with regularities similar to those of the German economy. A combined influence was exerted by growth mechanism regularities, economic policy and international economic relations. Using models of mathematical economics, the author analyses the main relationships. The most important conclusion on the basis of empirical results is that the relatively slow economic growth of our days may be accelerated by a switch to a growth-oriented economic policy.
Germany and the European economy
Simon Gyrgy Jr.
Medjunarodni Problemi , 2011, DOI: 10.2298/medjp1101052s
Abstract: Germany has traditionally been the powerhouse of the European economy and integration. In this article, an attempt is made to put its economic development in a European context by comparing it with the achievements of the total group of more developed members of the European Union, the EU-15, prior to the current global crisis. The author applies both the methods of statistical analysis and models of mathematical economics to show the combined influence of growth mechanism regularities, economic policy and international economic relations on the long-term development of the German and European economy. Viewing economic growth as the central problem, he investigates the factors of its deviations from the equilibrium state, as well as the regularities affecting productivity and technical progress. His main conclusion is that the current economic crisis can be surmounted with the help of a growthoriented economic policy based on the intensification of technical progress and, first of all, of its creative component, which would create favorable conditions for improving competitiveness.
Basic questions of economic growth mechanism
Simon Gyrgy
Economic Annals , 2008, DOI: 10.2298/eka0876007s
Abstract: The author elaborated and, by a world economic investigation on 131 countries, verified a growth model considering both physical and human capital, as well as time, as the event space of creative economic activity. The main components of the model are the intensity functions using which one can map the three fundamental types of technical progress and thus economic growth and development from the initial state without physical capital to our days. The model is functioning well concerning both developed and developing countries, as demonstrated by the paper with the examples of the United States and India.
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