Journal of Economics - Obsahy ročníkov

The paper deals with economic development of both the Czech and Slovak Republics between the years 1970 and 1989. It focuses on the description of economy from nowadays perspective by the commonly used gross domestic product. The estimates were prepared by experts from the Department of Economic Statistics of the University of Economics in Prague. The paper describes the main conceptual differences between the previously used System of Material Product and the currently used System of National Accounts. The most important difference was in the coverage of economic activities that were considered productive for the value added estimation. The paper shows the comparison of previously published figures for Czechoslovakia with figures newly estimated for the Czech Republic and Slovakia. The key data sources consist of officially published figures on global product, national income and symmetric input-output tables. Keywords: material product system, system of national accounts, national income, gross domestic product JEL Classification: E01, C02, N01

The paper explains theoretical framework of how corruption hurts economic growth and reveals its application difficulties. Comparing views on corruption in terms of the problem of agency and the problem of rent-seeking we argue that corruption in general is the problem of legal setting and its enforcement and, if badly established, it does not promote economic growth. To verify the theoretical argument we present empirical Granger causality test to demonstrate that corruption precedes economic growth in Central and Eastern Europe. This means that legal setting and its enforcement rather allow for rent-seeking than promote economic growth. As a consequence we emphasize the necessity to focus on institutional framework to fight corruption and support economic growth. Keywords: agency theory, corruption, economic growth, rent seeking, Granger causality JEL Classification: D72, D73, O17

This study aims to examine relationships among higher education service quality and student satisfaction and their relatedness to students’ behavioural intentions. Slovak higher education setting has provided a framework to this study. Structural equation modelling, using LISREL 8.80, has been performed on student survey data and indicated that both higher education service quality and satisfaction are important determinants of students’ behavioural intentions. However satisfaction mediates the effect of service quality and exerts more significant impact on behavioural intentions. Findings of this study indicate that university administrators should pay special attention to satisfying existing students in order to motivate them to recommend the institution to prospective students and enrol higher levels of study within the same faculty. Implications of the study, limitations and directions for future research have been discussed. Keywords: behavioural intentions, higher education service quality, Slo-vakia, student satisfaction JEL Classification: C51, I21, M31

All MNEs generate their revenues through a business model which have a certain organization of functions performed, assets used and risks assumed. Nevertheless, the changes in economic environment have resulted into the situation, when all governments have been increasingly focused on raising revenues through taxation and conversely many MNEs have been focused on decreasing of their taxable business income with using various means. One possibility how to achieve it for both sides is a transfer pricing. The aim of the paper is to create a general model, under which the MNEs could decide for the best business model within the frame of the tax planning, but which would also enable to quantify the impacts on the state budget resulting from that tax planning strategy. Furthermore, the general model determinates more accurate arm's length transfer prices in the business model with respect to recommendations in OECD TP Guidelines, particularly functional and comparability analysis. Keywords: transfer prices, arm's length principle, tax burden, tax revenues, business model JEL Classification: F23, H21, K33, K33, H20

We summarize main effects which lead to the innovation rate in real economy being different from social optimum. From the viewpoint of theory of economic growth, it is possible that market subjects innovate less but also more than socially optimal. Intensity of competition is one of the most important determinants of innovation rate. We list main policy instruments which can influence rate of innovation. Keywords: dynamic efficiency, imperfect competition, innovations, perfect competition, static efficiency JEL Classification: O31, O33, O38

The globalization process has a crucial impact on the world economy and national states position. Developing the international division of labour the states strengthen globalization on one hand while they may slow it on the other. Along with hyperglobalization the national state role becomes weaker and various forms of transnational governance arise. According to D. Rodrik, the state submits to the global governance non-adequately. Nevertheless, globalization cannot be stopped; the forms of global governance can be only modified. The EU and its institutions oscillate between the transnational governance and the member states sovereignty observance. However, in spite of the transnational intervention limits, the economic crisis forces progress to a higher degree of integration. Thus, global governance is supported to the detriment of the national state. Keywords: globalization, national state, governance, European Union JEL Classification: F5