Journal of Economics - Obsahy ročníkov

The paper presents medium-term fiscal challenges faced by the Republic of Slovenia upon its accession to the European Union. At the beginning, two meth-odological issues are discussed. First, the difference between the calculated and actual net transfers between the EU budget and national budgets of the EU member states. Second, typology of fiscal effects the EU funds have on a member state’s na-tional budget, both on its overall level and on its expenditure structure. The following two parts of the paper provide quantification and an analysis of effects the EU membership is expected to have on Slovenia’s public finances in early post-EU accession years, i.e. in the 2004 – 2006 period, and in the period of the next medium-term financial perspective of the EU, covering the period between the years 2007 and 2013. Keywords: EU public finances, Slovenia, financial flows, fiscal adjustment JEL Classification: F36, F21

Retail banking presents a specific art of banking business, which is especially oriented on selling of bank products and services to the population and SME (tradesman, small companies). Retail banking can be defined as an system, which consists of following subsystems: strategy, culture, product, price, communication, distribution, personal; and the target of the fulfilling of the clients needs is to reach maximum profit and permanent growth of the bank. The target of this subscription is it to present the theoretical aspects of retail banking development and to define the actual trends of retail banking development in the EU countries and to compare these trends with the current situation in Slovakia. Keywords: banking sector, retail banking in Slovak republic, retail banking in EU JEL Classification: G21

Dynamically changing global social and economic climate influenced market visionaries to initiate a new marketing concept to promote and assure competitive ability for many enterprises in times of digital and information revolution. Today the concept of scientific managerial discipline is characterized and recognized as CRM (Customer Relationship Management)). This new concept represents a dynamic and integrated strategic system focused on a customer and on the improvement of customer relationship with the goal to create mutual values. Authors of this article intended to integrate up-to-date theoretical a practical knowledge into a new view and understanding of certain parts of this subject. Subsequently to promote introduction and development of marketing theory as the foundation of its successful application into business practices of most companies in Slovakia. Keywords: customer, relationship, value, marketing concept, transactional marketing, relationship marketing, customer relationship management JEL Classification: M31

This article highlights the application of CTB index – Contribution to the Trade Balance under Slovak and Czech conditions. Introductory parts are aimed at specifying theoretical background of CTB indicator as being incorporated into the World Competition Indices. CTB is in this article observed from different scientific point of views, however, being further applied and compared to RCA as a common indicator for measuring comparative advantages. Values presented in tables and graphs clearly point out the structural changes; production processes of both of the observed countries. Keywords: trade balance, net export, competitiveness, comparative and com-petitive advantages JEL Classification: F40, H60

As well as there is expected scientific and exact approach in handling technical problems it should be obvious in solving environmental problems too. However, in handling the social problems there are sometimes „non-professional“ procedures, with strong accent of subjective decisions. This issue is bold not only on the „high-level politics“ but also in administration, which is very often non-adequately slow and cumbrous. The contribution constitutes one of possible approaches to the support of decision making processes within creating and protection the environment. Keywords: environment, creation, protection, decision, optimization JEL Classification: C61

Most of the past empirical work has failed to detect any kind of strong positive relationship between capital account liberalization and economic growth, in contrast to what standard theory had predicted. Some researchers have argued that the increased frequency of financial crisis and the resulting macroeconomic instability is the main cost of capital account liberalization which may partly (or more than partly) offset its beneficial growth enhancing effects. In this paper, based on Turkish experience, we offer two additional mechanisms through which increased net capital inflows might exert negative impact on economic growth even when the years of deep financial crisis caused by capital reversals are not taken into account: The changing sectoral composition of output and employment against traded goods, and higher inflation. Keywords: capital account, liberalization, growth, traded goods, external debt, inflation rate JEL Classification: E24, E30, F30