Journal of Economics - Obsahy ročníkov

This article presents the idea that euro area is an „immature“ monetary union, which is far from optimum currency area. The „immaturity“ of EMU which is associated with its heterogeneous asymmetric economic structure, can be deepened along with further enlargement of European Monetary Union. Single monetary policy does not satisfy various interests of all EMU members. Keywords: costs and benefits of EMU, hypothesis of the endogeneity of OCA criteria, symmetric and asymmetric shocks, asymmetric structure of EMU JEL Classification: E52, F15, F33

The article analyses the basic aspects of technological and innovation development. The history and present state of understanding the technology is discussed both in general and economically in particular. Hard and soft technologies are distinguished between. The categorization of production factors is characterized from the view of technology development, and so are transfer and diffusion of technology, and sustainable technology development. The concept of innovation and intra- and extra-enterprise sources of innovation are dealt with. By way of conclusion, technological and innovation policies and their development stages are analysed. Keywords: technology, innovation, research, knowledge, production factors, transfer and diffusion of technology, generations of technology and innovation policies JEL Classification: O31, O38, O33

The paper incorporates censored tobit regression analysis to detect whether the changes in banking efficiency in Visegrad countries should be explained by country specific environmental factors or the internal variables. The results sug-gest that the level of efficiency may be explained mainly by banking specific characteristics. The country’s environmental factors are likely to be statistically insignificant. Consequently, the paper sheds some light on the issue of the optimal architecture of a banking system. If combined together, the positive effects of capitalization, market concentration and foreign ownership on efficiency indicators suggest that banking sectors with few large, well capitalized banks owned by strategic foreign owner are supposed to generate better efficiency and higher rates of intermediation. Keywords: efficiency, determinants, banking intermediation, tobit model, Cen-tral Europe JEL Classification: C14, C34, G21

Article presented by the author refers to importance and grounds of marketing conception in conditions of global economy in spite of scepticism and criticism of marketing by the part of theory and according to Slovak and International companies it also refers to important tendencies marketing theory and practice is going through. The paper presents the development of Marketing Theorie from beginning till present. It analyses influence of global processes on the companies marketing activities, which enterprise on global, international an local markets. Keywords: marketing, market globalization, competition, marketing strategy, marketing mixture, opinion poll JEL Classification: M31, F23, F40

Reinsurance is undoubtedly the ideal way of risk compensation. First part is dedicated to a description and analysis of various types of protections with emphasis on a graphical presentation. The second part of the article deals with the question of optimal reinsurance with the goal of ensuring that the insurer will not bear unnecessary risk. The problem of finding an optimal chain of reinsurance protection is solved with the use of collective risk models. Keywords: reinsurance protection, proportional and non-proportional reinsu-rance, quota share, surplus, priority for excess of loss, priority for stop loss, collective risk models JEL Classification: G22

Turkish efforts for the EU membership from 1963 to the 17th of Dec. 2004 were finally successful. The date of accession negotiations was set on the 3rd of Oct. 2005. Concerning geography and culture Turkey is more Asian than European country. It is possible that it becomes full EU member in next 10 – 15 years. There will be advantages for both sides. Turkey will gain advantages from its membership – after the creation of customs union with the EU in 1996, Turkey will also acquire access to the four freedoms of common market of the EU. There is also a certain threat for Turkey concerning the free movement of labour – Turkey will have only limited access to this freedom. On the other side, the EU will acquire country with great growth dynamics and with wide market. Concerning risks, we have to mention relative political instability which is to be solved before the accession to the EU. Keywords: EU enlargement, Turkey, integration, accession aspects JEL Classification: F15