Impacts of Technology on Economic Growth: With Difference Between Tourism Countries and Industry Countries Aspect
Ceren Demir, Ebru Gül Yilmaz, Sureyya Imre
Abstract: The effects of technology on economic growth and development have been an area that many economists have focused on, especially since the post-World War II period. This study aims to analyze the differing technological impact between countries with a high share of tourism in their gross domestic product and countries with a high share of the industry. Another aim of the study is to determine the direction of the net effect of technology for the determined country groups. In such a way that, by increasing productivity, technology is the most important factor in solving the world’s scarce resources problem. However, it also causes both social and economic problems in terms of creating negative externalities such as environmental pollution and global warming. To set the impact differences and clarify the net effect of technology, two different country groups have been defined consisting of 30 tourism countries and 30 industrialized countries. The same growth model was imposed in which capital, labor, tourism income, trade openness and middle and high-technology export level as independent variables for both groups. GMM-Generelazied Moment of Moment estimator was applied and it is surprisingly concluded that technology has a negative impact on both country groups’ economic growth.
Keywords: Economic Growth, Tourism, Technology, Industry
JEL classification: F10, O11, O14
Contextual Research of Strategic Theories for Non-financial Reporting: A System-Structural Approach to Formulating Reporting Principles
Ivan Derun, Hanna Mysaka, Iryna Skliaruk
Abstract: The principles of non-financial reporting are a prerequisite for the harmonization of reporting standards and a guarantee of comparability of reporting indicators. A lack of a long-term and established practice in preparing non-financial reporting does not allow forming its principles as generally accepted rules for the preparation of reporting data. Therefore, the system of principles of non-financial reporting should be based on the results of scientific research on the theories of disclosure of non-financial information, including publications indexed in the SCOPUS. Based on the results of the bibliometric and linguistic analysis of the selected scientific publications, the correspondence was established between the content substance of the postulates of the most popular motivational theories of non-financial reporting (agency theory, institutional theory, legitimacy theory, stakeholder theory) and individual components of the mechanism of disclosure of non-financial information. The identified causal relationships allowed formalizing the principles of preparing non-financial statements and combining them into a coherent system that covers informational, legal, organizational and communicative aspects of the reporting mechanism and consists of such principles as: application of differentiated metrics; the predominance of substance over form; business accountability; access to information of public interest; reporting coherence; reporting preparation periodicity; full coverage; consistent and continuous disclosure. The formed system of principles of non-financial reporting comprehensively takes into account the peculiarities of the process of preparation of reporting data which mainly contains non-financial information. Therefore, its use as a basis for non-financial reporting standards will contribute to their harmonization and increase the comparability of reporting data.
Keywords: Legitimacy Theory, Institutional Theory, Agency Theory, Non-Financial Reporting, Stakeholder Theory, Principles Of Non-Financial Reporting
JEL classification: M14, M40, Q56, B41
The Influence of the Economic Disparities Between Regions on Political Polarisation in the Czech Republic
Abstract: This paper aims to evaluate how the economic prosperity of regions affects the polarization of political representation, and thus of society. It examines whether economically prosperous regions, represented by economic well-being, show lower political polarisation, and whether regions with lower levels of economic prosperity are more likely to elect polarised and extreme political representatives. The paper focuses on the period from the establishment of the Czech Republic in 1993, to the last elections in 2021 in the NUTS 3 regions of the Czech Republic. Evidence was provided through a determination of the effect of economic well-being, defined by three indicators, i.e., gross domestic product per capita, unemployment, and disposable income per capita, on the development of a created political polarisation index. This index is based on the left-right ideological party division combined with election results for the Chambers of Deputies of the Parliament of the Czech Republic of regional districts. Sociodemographic indicators of the development of the individual regions were used as control variables. These include the average population, share of the university-educated population, age indicators, population density of a given region, voter turnout in a specific election year, and various positions in the institutional setting of the Czech Republic. The most significant components of economic well-being that influence the development of polarisation are the growth of disposable income and unemployment. This is demonstrated through a quantitative economic analysis of the panel dataset using the least squares with fixed effects method that uses time-fixed and region-fixed effects.
Keywords: Czech Republic, Polarisation, Politics, Economic Well-Being, Political Economics, Disposable Income
JEL classification: D72, E61, I31, P16
Fiscal Compliance and Fiscal Response to the COVID-19 Crisis in Visegrad and Baltic States
Romana Provazníková, Denys Dmytrenko
Abstract: The coronavirus crisis, which began in 2020, had a major impact on the fiscal policies of the EU member states. Governments increased their spending to support economies affected by quarantine measures. Expenditure increase and revenue reduction made EU countries non-compliant with the requirements set by the Stability and Growth Pact, adopted to balance fiscal policies. However, countries were affected differently and used different fiscal measures. The paper discusses differences in fiscal response to the COVID-19 crisis among Baltic and Visegrad countries. The paper aims to analyse how the fiscal response in 2020 correlates with their fiscal indicator's compliance in the pre-crisis period (2004-2019). The results suggest that the states could be divided into two subgroups according to their fiscal stance before 2020 and their reactions to the shock. The first group, consisting of Hungary, Poland, and Slovakia, represent states with a higher level of public debt, lower compliance with the debt and deficit rules, and higher expenditures. Hungary stands out among the states, while Estonia and the Czech Republic have the best compliance scores.
Keywords: Correlation Analysis, Fiscal Reactions, Fiscal Rules, Fiscal Compliance, Covid-19 Crisis
JEL classification: E62, E63, H50
Enhancing Citizen Participation through Social Media Engagement: The Case of Czech Municipal Facebook
Nikola Svirak, Tomáš Urbánek
Abstract: The popularity of social media is expanding, and so is the interaction between towns and residents. Municipalities in the Czech Republic rely heavily on Facebook as a direct communication medium with citizens. The main goal of this research is to assess the drivers of municipal social media engagement with citizens. To do so, we looked at 183 official Facebook sites of Czech municipalities with extended powers. We applied the first generational statistical techniques, specifically the correlation and regression analyses in delving into the nexus between the citizenry engagement on local government issues via facebook toward onward local government development. Our results indicated that indeed most local governments have a Facebook page with little activity and large municipalities dominated most social media activity. The study found out that Facebook activity, interactivity and mood are the factors driving citizen engagement on municipality social media pages.
Keywords: Czech Republic, Social Media, Municipality, Citizen Engagement, Communication Strategy
JEL classification: D83