Journal of Economics - Obsahy ročníkov

The transformation of the Slovak economy went through stages of varying quality over time. The current second stage of depoliticization of economy is rounding up along with reforms undertaken typically not only by transforming countries but also by economically more advanced states. Having analyzed the criteria for a completed transformation process one may conclude that despite a substantial shift towards the standard market economy model the transformation has not been entirely completed by the time Slovakia became a member of the European Union. The Slovak economy, on the other hand, has already managed a critical mass of changes and would be considered by the economically more advanced countries as a peer in the economic area. Notwithstanding this advance the authors of the economic policy need address the convergence task along with the removal of the remaining transformation deformities. Keywords: economic policy, transition JEL Classification: E60, E61, E63

This paper describes behavior of Slovak economy during transformation process using tools of mathematical economy. As a base the IS-LM model for open economy is taken which is further modified to meet specifics of small open economy. The transition process of Slovak economy is divided into three periods and for each one modification of general model is used. The results prove that Slovak economy started with behavior considerably different from the one described by standard model, but it was moving closer to it as the transition process continued. Keywords: Mundel-Fleming model, economic transition, mathematical economics, small open economy JEL Classification: P24, E20, C32

This paper is devoted to the problems of the transformation of the enterprise sphere in the SR. It concentrates on the three fundamental problems which are: the course of the transformational process of the enterprise in the SR, competitiveness of the Slovak enterprises and the transformation in the sectors of the national economy. The transformational process of the enterprise sphere is unprecedented and spontaneous succession of the procedures resulting in the change of the enterprise behaviour of the market subject. The aim of this process is the increase of the competitiveness. Very important role in the transformation of the enterprises has the business environment. Keywords: transformational process, enterprise sphere, competitiveness, business environment JEL Classification: D01, D21, M13, O12

The paper analyses more than a decade of corporate governance development in the Slovak Republic. After the Introductory part (Part 1), the second part analyses ownership concentration patterns of the Slovak listed companies. Part 3 focuses on corporate restructuring as developed due to ownership changes. Corporate governance in banking sector is the topic of the Part 4. Evaluation of the impact of management changes on corporate governance system is studied in Part 5.In Part 6 are discussed changes in corporate governance as a consequen-ce of implementation of legislation, regulation and self regulation. Non-governmental initiatives, supporting the effort for higher transparency on capital market and better corporate governance, are studied in Part 7. In the final part (Part 8), a brief evaluation of expected development in the area of activities initiated at international and supranational levels is outlined. Keywords: corporate governance, restructuring, ownership concentration, transition economy, Slovak Republic JEL Classification: G30, G34, G38, P29

This paper addresses the changes in behaviour and situation of the households during the transition period. It emphasizes the processes of differentiation that were manifested in every singly family, and eventually lead to the changes in the processes of adaptation. Theoretical approach toward the stratification is accompanied with an analysis of the income differentiation of households, which has evolved and partially stabilized during the transition period. Key words: strafication of the society, human capital, adaptation mechanisms, the income of households JEL Classification: D10, E24, J3O

Process of economy transformation has had various impacts to individual regions of Slovakia. Developed regions with diversified branch structure were able to adapt with no serious problems, traditionally fossil and stagnant regions were not able to react to transformation process running and their stagnancy was getting deeper. Accordingly the number of regions with acute problems in economic and social development was extended. Different position, great contrasts in regions efficiency and level became a starting point that did not give a chance to solve their problems in medium horizont. It creates hard and very difficult emplacement of troubleshooting (fossil and stagnant) regions in their effort to achieve regional cohesion. Keywords: economy transformation process, regional disparities, regional system policy, regional cohesion JEL Classification: O18, P25, R11, R58