War Games or a new economy? - CASE's Maciej Sobolewski during XXIV Economic Forum in Krynica

The increase in military expenditure from 1.95% (guaranteed by Polish law) to the NATO-recommended 2% of GDP, announced lately by President Komorowski, might have a positive impact not only on Polish defense capabilities, but also on our economy. How to ensure that this happens and what exactly might be the economic benefits of the modernization of defense capabilities, were some of the topics discussed during the panel "War Games or a new economy? How to stimulate economic growth in times of danger”, which took place during the second day of XXIV Economic Forum in Krynica. CASE was represented by our vice-president, Maciej Sobolewski. read more » about War Games or a new economy? - CASE's Maciej Sobolewski during XXIV Economic Forum in Krynica

Lessons learned for monetary policy from the recent crisis: mBank – CASE Seminar Proceedings No. 130

“Most people would say that Europe is still sort of coming out of the financial crisis that we had 5 years ago, which was probably the worst since the Great Depression of 1930s. Now just to keep things in context, at the time people were saying that it was going to be worse than The Great Depression, but it was not. It was big, but it was actually not that big compared to some of the crises, especially compared to what happened in the 1930s.” writes prof. Michael Bordo in the newly published mBank – CASE Seminar Proceedings No. 130. read more » about Lessons learned for monetary policy from the recent crisis: mBank – CASE Seminar Proceedings No. 130

Forecasting Financial Stress and the Economic Sensitivity in CEE Countries

Two unobservable phenomena, financial stress and economic sensitivity, have an important effect on the economic situation of a country. Economic sensitivity is defined as a lack of both balanced economic growth and a lack of stability of public finances. Financial stress is a disruption of the normal functioning of the markets, in that: large shifts in asset prices, an abrupt increase in risk and uncertainty about the value of assets, liquidity droughts, and concerns about the health of the banking system. In this report the authors present forecasts of the Financial Stress Index (FSI) and the Economic Sensitivity Index (ESI) for the year 2014 and 2015. Forecasting economic sensitivity and financial stress is a continuation of the endeavor to construct synthetic indices, the FSI and the ESI, for twelve Central and Eastern European countries (CEECs) in the period 2001-2012. read more » about Forecasting Financial Stress and the Economic Sensitivity in CEE Countries

Can public policies stimulate the demand for innovation in businesses?

PPI

Each year in Europe 19% of public spending, that is over 2.300bn euros, goes to the public procurement but only a tiny share of this is allocate to innovative projects. However, if these activities are to be effective, policies should focus more on the interplay between public organizations and private business - said Peter Lindholm during seminar “Can public policies stimulate the demand for innovation in businesses?”. Over years innovation policies have merely focused on implementing an innovation infrastructure that could supply services to firms willing to innovate. This includes physical infrastructures (technoparks, incubators, engineering centres, etc.) and soft infrastructure (financial support, business advisory services, etc.). The concept of stimulating the demand side for innovation was not actively pursued and little evidence were collected to determine which measures could work best in different business environments. read more » about Can public policies stimulate the demand for innovation in businesses?

Is Europe Overbanked?

Since the beginning of the economic crisis in 2008, academics, policy makers, and citizens alike have engaged in discussions about its causes and consequences, and which the appropriate counter-measures should be. The banking system has been carefully and repeatedly scrutinized. However, a broad consensus on the roots of the problem is unlikely to emerge anytime soon. During the 132nd mBank – CASE Seminar our guest, professor Marco Pagano of the Faculty of Economics at the University of Naples Federico II, took part in this debate. read more » about Is Europe Overbanked?

Institutions of the Russian fiscal federalism: 20 years of evolution

The degree of decentralization in Russia is somewhat lower than the average of federal countries such as Austria, Germany and the United States, at least when one measures it by the share of sub-national governments in general government spending and revenues. Given that in Russia revenues of the federal and subnational governments depend to a large extent on the price of oil, an important block of the federal fiscal legislation is the stabilization policy. The Reserve Fund, which was established in 2003, cushions the effect of the oil price fluctuations on the budget. In addition to the Reserve fund, Russia has a fiscal rule that ex ante caps federal government expenditures at a certain level which is determined by a five-year average of past oil prices. Fiscal legislation also establishes limits on deficits, debts and borrowing of sub-national governments. read more » about Institutions of the Russian fiscal federalism: 20 years of evolution

Healthcare human resources – trends and prospects for an aging society

The adverse demographic changes that are the major cause of population aging lead to an increased demand for medical and care staff in healthcare and long-term care (LTC) sectors. As far as LTC is concerned, the situation is especially dire, as this system is still under formation in Poland – these are the main conclusions of the presentation delivered by prof. Stanislawa Golinowska, dr. Agnieszka Sowa and dr. Ewa Kocot during the seminar “Healthcare human resources - trends and perspectives for an the ageing society.” read more » about Healthcare human resources – trends and prospects for an aging society

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More invisible hand in Ukraine
16.09.2014 | Bartosz Radzikowski

Since it gained independence 23 years ago, Ukraine has been on a good path to develop its own infrastructure and political and financial systems. It has achieved a lot, but it still has a long way to go if it really wants to become a powerful and independent country.

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Which Countries Are Likely to Lead the Upcoming Trade Credit and Investment Insurance Boom?

16.09.2014 | Bryane Michael

The video covers the Playing the Shadowy World of Emerging Market Shadow Banking article, written by CASE Fellow, Bryane Michael, which can be downloaded here.

Check Making law, economics and business easier youtube channel for more videos!