Journal of Economics - Obsahy ročníkov

The study is focused on defining the position of the Slovak economy in terms of its technology and knowledge intensity catching up with the EU countries´ level. The differences between economies are quantified by a share of more or less technology and knowledge intensive segments on total employment, value added and foreign trade. Analysis indicated that Slovakia comparing with EU 15 markedly lags-behind in the development of knowledge intensive services and henceforth it keeps a considerably higher share of low and medium-low tech industries; the most remarkable differences have been discovered in the share of high technology manufactures on exports. Therefore, supporting of technology catching up has to become an important part of fulfilling the convergence objec-tives of Slovakia. Keywords: technological change, economic development JEL Classification: O39, O57

The positive effect of the foreign direct investments (FDI) on the economic growth is a generally accepted fact in Central and Eastern Europe. The aim of this article is to analyze this axiom on the set of eight new EU member states. The analysis is based on correlation analysis and regression analysis of the FDI inflow the GDP growth in the time period 1993 – 2003. The results of the correlation analysis are mixed – definite positive correlation can be noted only in three countries. The regression analysis brought controversial results. Regression tests show that the inflow of FDI failed to support economic growth and large FDI inflows are accompanied by slow GDP growth. The main factor behind these results is possibly the nature of the FDI inflows – more than 70 % of the total FDI inflows came through privatization and the short-term positive effect of these FDI are limited. Keywords: foreign direct investment, economic growth, Central and Eastern Europe, European Union JEL Classification: F21, F43

Purchasing Power Parity (PPP) is the most conventional and fundamental means through which the long-term equilibrium exchange rate can be explained. This article examines the monthly and quarterly data from January 1965 – January 1995 aiming at testing the validity of PPP as a long-term equilibrium condition for the bilateral exchange rates between US Dollar and the currencies of a set of five industrialized countries, namely Germany, France, Australia, Canada, and the United Kingdom, using Augmented Dickey Fuller (ADF) unit root test. Results indicate that both monthly and quarterly US Dollar – Canadian Dollar real exchange rates are stationary. In case of US Dollar – Australian Dollar real exchange rate, only monthly data is found to be stationary. Strong evidence emerges that US Dollar – French Franc, US Dollar – German Mark, and US Dollar – Great Britain Pound exchange rates are non-stationary, which invalidates the PPP hypothesis. Keywords: purchasing power parity, exchange rate determination, unit root test JEL Classification: C32, C52, E43

Industry used to be the decisive branch of Slovakia’s national economy until 1989. The aim of the article is to point to regional aspects of deindustrialising process in Slovakia by means of calculation of size of industrial centres (industrial centres represent the basic units of industrial regionalisation) and their share in regional employment for two time horizons. Comparison of regional differences of industrial employment in the pretransition and post-transition periods shows a persisting spatial inertia in the distribution of industry. In spite of uniqueness of some impacts of transition process on the life of society, two basic spatial dichotomies survive in the regional structure of industry in Slovakia: west – east and core – periphery. Keywords: industry, industrial centres, regional differentiation of industrial employment, Slovakia JEL Classification: R11, R12, R58

A lot of companies in Slovak republic end their activity by bankruptcy. When bankruptcy manager wants to sell the company as a one unit or as the parts of company, he needs the special expert evidence. In this expert evidence is used special coefficient which decreases or increases the final value of estimated company. We can call it marketability coefficient. Expertise’s agencies don’t have a technique how to determinate this coefficient. Article determines seven key factors which the most influence the coefficient. It is line organization, company’s position in sector, versatility of property, enterprising space, risk and average profitability, company’s size and optimal output and other impacts. All these factors were specified and quantified then was designed the way how to measure every factor and the procedure how to create the marketability coefficient. Keywords: bankruptcy, company valuation, expert evidence, marketability coefficient JEL Classification: G33

The Europe Union member states concentrate more and more at uncovering circle frauds. The amount of this frauds increases constantly. Because the mechanism of these frauds suppose their realisation in at least two Europe Union member states, international cooperation of tax administrations becomes necessary. Tax administrations of member states will have to cooperate more closely, better share mutual experiences in uncovering tax frauds, be able to adopt new methods of tax criminals more flexible (including circle frauds area) in future. There was already a document worked out by Europe Union member states for this purpose, which helps the tax administrations of member states to uncover frauds in particular in value added tax (VAT) area. Keywords: taxable information, taxable information exchange, cyclic VAT fraud JEL Classification: H26

The sector of information technology, in particular, now exhibits visible indications of a turnaround, having benefited from the recent period of deep restructuring and extensive streamlining. The use and application of information and communication technologies (ICT) remain the most powerful engines for economic growth. The objective of this paper therefore, is to identification the position of Slovak IT sector in the global and regional context among with both countries of European union and in particular countries of southeast Europe. In this analyses were used a quantum of data from IDC, WITA and EITO. The key factor of our analyses it was the level of investment to Slovak IT sector and the labor force employed in this sector. In this analyses we found that Slovak IT sector has experienced a maintained growth in the period 1995 – 2003 with average 10,2 per cent growth annually and particularly from 1999 to 2003. Keywords: Slovak IT sector, European IT sector JEL Classification: O14, O33

This article is about how creates and uses simple computer simulation to investigate evolution of virtual economy. Simulation model covers basic relationships between companies, employees and companies and their employees. The simulation model represents simplified view on objective and complex reality in virtual world, but in this state we can use it to understand the problem area better already. Keywords: evolution, virtual economy, multi-agent system, computer simulation, artificial intelligence, society JEL Classification: A20