Journal of Economics - Obsahy ročníkov

This paper examines goals, themes, instruments and outcomes of research and development policies in ten new Member Countries of the EU. Intensity of the public and business R&D expenditure approaches the EU averages in the Czech Republic, Slovenia, Hungary and Estonia. These countries may consider shifts in their R&D policies and increase importance of indirect forms of support (tax allowances, financial engineering tools), and also cluster policies and net-working initiatives. Slovakia, Poland, Latvia, Lithuania, Bulgaria, Romania and Latvia, on the other hand, should primarily invest in improvements in the R&D infrastructure and increasing stocks and quality of researchers in public and private sectors. Keywords: research policy, management of R&D and technological innovation JEL Classification: I23, O32, O38

The objective of the presented paper is the exploration of compulsive buying, which is on the contrary to previous research understood as a function of various personal goals, rather than a result of psychological tension. Behavioural research has paid only marginal attention to the goal-basis of the consumer behaviour. Research of consumers as goal-oriented individuals could contribute to understand the question about the impact of personal goals on the process of buying behaviour. The research suggests that external goals such as financial success or attractive appearance are positively correlated with compulsive buying. On the other hand, internal goals, based on self-acceptance or links to community have a negative impact on compulsive buying. The findings indicate the need of further research in compulsive buying and could contribute to revealing the motives in compulsive buying. Keywords: compulsive buying, personal goals, external oriented goals, internal oriented goals, consumer behaviour JEL Classification: M31

This paper evaluates the differences in the degree to which the preferences of the Slovak right-wing and left-wing parties are affected by the development of consumer prices and unemployment. Using the linear regression approach, it provides evidence that Slovak left-wing voters are resistant to economic voting, which is demonstrated by the fact that changes in the preferences of the Slovak left-wing government during 2006 – 2008 did not react to changes in the CPI and the unemployment rate. By contrast, the Slovak right-wing is held account-able by its voters both for rising prices and unemployment. Thus, our research unveils a new, unexpected difference between left- and right-wing voters. Furthermore, it is argued that, under constantly decreasing monetary and fiscal sovereignty in EU member states, political parties that have voters highly responsive to economic conditions are in a disadvantage as their preferences are dependent on factors they can influence less than in the past. Keywords: economic voting, political voting, left-wing, right-wing, regression analysis JEL Classification: D72

European converging economies (ECE) are currently exposed to the large complex of implications of the economic crisis. Poor economic performance (real output downturn, high unemployment) of the ECE caused a negative development in their public finance budgets. Due to this fact the stimulatory effects of fiscal policy comes into the centre of the wide academic discussion. In the paper we analyze the effects of fiscal policies as well as fiscal impulses in ten ECE in period preceding a negative shock from the economic crisis followed by a negative development in the public finance budgets. Fiscal shocks are identified using Cholesky decomposition of the variance-covariance matrix of the VAR model residuals. Impulse-response functions are computed in order to estimate the real output responses to the fiscal shocks in ten ECE. Analysis of the real output fiscal determination in the precrisis period helps us to estimate the stimulatory potential of the fiscal policies in the ECE. Keywords: economic crisis, fiscal policy, government expenditures, tax revenues, unrestricted VAR, Cholesky decomposition, structural shocks, impulse-response function, fiscal impulse JEL Classification: C32, E62

The idea of cooperation and industrial clustering is not new. Enough of the practical experience shows that the idea of clustering is not always understand correctly what can delivers not correct results and effects. Business chains and industrial clusters do not represent a universal tool for solving economic problems of the regional economics. It is therefore necessary to provide adequate and effective practical tools what can identify the industrial sectors in which there is a potential of business clusters and chains birth and existence. The various methods analyzing the agglomeration and competitive advantages of the industrial sectors can be usefully used. The aim of this paper is to characterize the selected method – Ellison-Glaeser agglomeration index and its use. This method can help to detect agglomerated sectors, respectively geographic concentration what can be used during the industrial clustering process. Keywords: Ellison-Glaeser index, agglomeration, cluster, clustering JEL Classification: C83, R12, R15, R58

This article summarizes current issues regarding preparation and implementation of EU projects. Cohesion policy and regional policy as a main part of cohesion policy are the most important policies of European Union. This could be view also from the volume of financial resources allocated for these policies. One of the main current research issues is analyzing efficiency and effectiveness of these funds. Examining the effectiveness of funds we can see a number of shortcomings, from which the most significant are deadweight loss, lack of application of the principles of partnership, administrative burden focused on expenses and not results, the low multiplier effects and little focus on the priorities of promoting competitiveness. We have analyzed several of them directly in the case study of Banská Bystrica region. Keywords: cohesion policy, regional policy, structural funds JEL Classification: R58