MICHAL HRNČIAR - INEQUALITIES IN THE LABOUR MARKET AND IN THE EDUCATION SYSTEM IN THE CONTEXT OF CURRENT SOCIAL CHANGES FOR A SELECTED SECTOR IN THE SLOVAK REPUBLIC (Nerovnosti na trhu práce a vo vzdelávacom systéme v kontexte súčasných sociálnych zmien vo vybranom sektore v Slovenskej republike)
Abstract: The presented paper analyzes the sector of transport, logistics, and postal services in the Slovak Republic in terms of inequalities in the labour market. In the first part, the author deals with the impact of innovation on human resources in the sector (describes the most important innovations for the sector in the coming years and gives an example of the impact of these innovations on human resources) and then points to labour market disparities due to staff shortages and high outflows. graduates to other sectors. For the purposes of the paper, the author's analyzes were evaluated in cooperation with an expert team, which is created within the national project Sector-Driven Innovation. The author of the paper is directly involved in the implementation of project activities and participates in the research of changes in the labour market caused by incoming innovations. These results are analyzed in combination with the national project Labour Market Forecasts II, the data of which point to disparities in the labour market in this sector. Through cooperation with representatives of the most important sectoral companies operating in the Slovak Republic, it is possible to indicate the highly real impact of innovations on the labour market over the next 10 years. Such findings are one of the most important sources for changes in the education system, which on the one hand prepares the future workforce for this sector and for relevant institutions providing lifelong learning to people who might otherwise be at risk of future changes.
Keywords: Forecasting, Innovation, Labour market, Education
JEL Classification: J01, O33
DÁVID HOJDAN - TESTING HUMAN CAPITAL PROXIES IN THE SOLOW MODEL (Testovanie proxy indikátorov ľudského kapitálu v Solowovom modeli)
Abstract: In their famous article, Mankiw, Romer and Weil (1992) concluded that estimates based on the augmented Solow model imply output elasticities of physical and human capital at about 0.3. When replicating the authors’ methodological approach to our own data, there is a significant overestimation of the impact of physical capital in recent periods compared to the conclusions of Mankiw, Romer and Weil (1992). We consider the main determinant of this overestimation to be an imperfectly chosen proxy variable, which does not capture well the stock of human capital essential for the current economic growth. In this paper, we tested four different proxy variables for human capital in the augmented Solow model. We found that the proportion of people with at least some tertiary education is the best variable in analyzing data between 1960 – 2000. When examining recent periods, the better proxy variable is the average length of schooling.
Keywords: Solow model, Human capital, Cross-sectional data
JEL Classification: O47, I25
BARBORA DRUŽBACKÁ - TURKISH-CHINESE COOPERATION ON THE BELT & ROAD INITIATIVE (Turecko-čínska spolupráca v rámci iniciatívy Jedno pásmo, jedna cesta)
Abstract: China’s ambition to get to the top of the largest economies is obvious. This is also the reason in 2013 China launched the largest initiative in modern history – the Belt & Road Initiative (BRI) – to revive the ancient Silk Road using state-of-the-art technology and to connect the Eurasian continent. In this context, China has cooperated with many countries, including Turkey. China and Turkey have a history of complicated relations, but it turns out that it is the cooperation on the ongoing projects of the BRI that could improve relations. This article aims to highlight Turkey’s position in the BRI, describes relations between these countries, analyses mutual trade, Chinese investment in Turkish territory and focuses on major projects under the initiative. The results showed that countries in economic interest are deepening their mutual cooperation despite cultural and ethical problems, but there is a large imbalance in market reciprocity. The paper also points out the most important BRI projects, with the opening of the Baku–Tbilisi–Kars railway being identified as the most significant project implemented. This railway opens an alternative land route so-called southern branch of the New Silk Road. Turkey is becoming an important country as a gateway to Europe.
Keywords: Belt and Road Initiative, BRI, Cooperation, Investment, China, Turkey
JEL Classification: F20, F50, P45
VERONIKA PIOVARČI - THE EFFECT OF SOCIO-ECONOMIC AND DEMOGRAPHIC FACTORS ON HOUSEHOLD INDEBTEDNESS: EVIDENCE FROM SLOVAKIA (Socioekonomické a demografické faktory zadlženosti domácností na príklade Slovenska)
Abstract: Lower interest rates and easier access to credit have elevated demand for debt over the last two decades. However, Slovak household indebtedness has increased most significantly among the European Union countries. Therefore, understanding the factors which drive Slovak households to the debt is crucial for policymakers, regulators, and financial institutions. The main goal was to analyse relevant socio-economic and demographic characteristics of indebted and non-indebted Slovak households. This analysis was based on microeconomic data collected through a survey on Household Financing and Consumption in 2017. Firstly, we performed a descriptive analysis which closer identified factors related to household indebtedness. Subsequently, a logistic regression model was tested based on univariate analysis. Then, we illustrated the significant average marginal effects of selected socio-economic and demographic factors on the probability of indebtedness of Slovak households graphically and numerically. After all, the results suggest that the likelihood of household participation in the credit market increases with increasing levels of wealth, while the level of household income does not have a statistically significant effect on debt distribution. Also, households with more members and households with two children are more likely to hold any debt. An opposite effect was observed in households where the reference person was economically inactive, achieved a higher level of education, or was older.
Keywords: HFCS, Indebtedness, Slovak households, Socio-economic and demographic factors, Microeconomic data analysis
JEL Classification: C25, D14, G51
ANDRIANNA BALEHA - ENVIRONMENTAL SAFETY OF THE INDUSTRIAL SECTOR OF KAZAKHSTAN: REDUCTION, RECYCLING AND DISPOSAL OF WASTE IN THE COUNTRY (Environmentálna bezpečnosť priemyselného sektora Kazachstanu: zníženie, recyklovanie a likvidácia odpadu v krajine)
Abstract: The Republic of Kazakhstan is an economic leader in the region of Central Asia, and also belongs to the world leaders in the availability and production of natural resources. Oil, natural gas and black coal are the main export commodities of Kazakhstan. But in addition to economic growth, the mining and quarrying industry are significant sources of environmental pollution. The environmental safety of the Republic of Kazakhstan is also largely violated due to improper waste management. In this article, we analyzed the trend in the generation and waste management system in Kazakhstan for the period 2014 – 2019 and came to the conclusion that despite the increase in the cost of environmental protection and waste management, the ecological situation in the country needs careful monitoring and reform.
Keywords: Environmental safety, Waste management, Republic of Kazakhstan.
JEL Classification: F64, Q53
ANABELA LUPTÁKOVÁ - THE EUROPEAN UNION’S FOREIGN TRADE COOPERATION WITH EURASIAN ECONOMIC UNION: SELECTED INDICES (Spolupráca Európskej únie s Euroázijskou ekonomickou úniou v oblasti zahraničného obchodu: vybrané ukazovatele)
Abstract: The European Union (EU) has a long-term negative trade balance with the Eurasian Economic Union (EAEU). The ongoing sanctions between the EU and Russia have affected trade relations also with the EAEU, as the EAEU is a customs union. Calculations of revealed comparative advantages and intra-industry trade between the EU and the EAEU illustrate how agrifood sanctions alter their trade cooperation in that commodity group. A significant decrease in the EU’s revealed comparative advantages of the EU in the commodity group of food, drinks and tobacco after 2014 was observed. During the last ten years, there was an increase in the index of intra-industry trade by 50% in the same group. The EU has a moderate revealed comparative advantage in the machinery and transport equipment, which is also its most exported item. On the contrary, the EU has comparative disadvantages in mineral fuels, which perform almost 70% of the total imports from the EAEU. The EAEU could be perceived as a vital partner for the EU, considering its strategic raw materials and geographical interconnectedness within the Eurasian continent.
Keywords: Eurasian Economic Union, European Union, Foreign trade, Intra-industry trade, Revealed comparative advantages.
JEL Classification: F10, F15, F60
