The improvement of public finances is an important issue for any country's development. This content is changing public sector and sustainability of citizens environment; therefore, much attention is paid to the widespread improvement of financial research. In addition, activities may be organized in connection with applicable higher education programs. On the other hand, education in the field of financial management in different countries is interpreted differently. It has become increasingly important that such a discussion does not directly contribute to the overall development of financial education in recent years. One of the possible ways to handle personal finances in various economic conditions may be to change the attitude of students to the knowledge provided by universities. Young people should be supported by financial education included in their study programs. Proper management of these programs helps to improve the educational process and their economic ituation. Ultimately, the best way to determine the tax paid by individuals and legal entities could be called their rate of tax burden. However, an ordinary citizen who lives only from the income related to labor relations and has a higher tax burden may be a more important problem. Another key objective of the paper is to disclose how citizens perceive taxation and public spending. The objective of the paper is to show the impact of the tax incidence in Lithuania during the last decade. Thus, we can consider almost doubled increase in the burden of direct taxes compared with the officially declared average tax burden of the country. Nonetheless, an additional tax burden includes hidden taxes related to payments from the individuals' total income. On the average, the tax burden for an ordinary worker can be about two-thirds of his/her gross annual income. The perception of the tax burden can lead every citizen of the country to be responsible for all the actions of public servants and budget planning processes. Raising government revenues is often difficult due to the use of the concept of fixed costs for public sector when a person directly pays additional payments for most public sector services. Thus, the confusion of terms is quite constant showing the need for literacy in public finance. In recent years, the accredited tax burden of Lithuania has been more than thirty per cent of the country's nominal gross domestic product. However, political leaders and experts suggest plans for increasing Lithuania's tax burden. Besides, there was a critical error concerning contributions to social insurance and compulsory health insurance funds. Fortunately, in 2018, the national budget included social payments in the budget revenues.
The improvement of public finances is an important issue for any country's development. This content is changing public sector and sustainability of citizens environment; therefore, much attention is paid to the widespread improvement of financial research. In addition, activities may be organized in connection with applicable higher education programs. On the other hand, education in the field of financial management in different countries is interpreted differently. It has become increasingly important that such a discussion does not directly contribute to the overall development of financial education in recent years. One of the possible ways to handle personal finances in various economic conditions may be to change the attitude of students to the knowledge provided by universities. Young people should be supported by financial education included in their study programs. Proper management of these programs helps to improve the educational process and their economic ituation. Ultimately, the best way to determine the tax paid by individuals and legal entities could be called their rate of tax burden. However, an ordinary citizen who lives only from the income related to labor relations and has a higher tax burden may be a more important problem. Another key objective of the paper is to disclose how citizens perceive taxation and public spending. The objective of the paper is to show the impact of the tax incidence in Lithuania during the last decade. Thus, we can consider almost doubled increase in the burden of direct taxes compared with the officially declared average tax burden of the country. Nonetheless, an additional tax burden includes hidden taxes related to payments from the individuals' total income. On the average, the tax burden for an ordinary worker can be about two-thirds of his/her gross annual income. The perception of the tax burden can lead every citizen of the country to be responsible for all the actions of public servants and budget planning processes. Raising government revenues is often difficult due to the use of the concept of fixed costs for public sector when a person directly pays additional payments for most public sector services. Thus, the confusion of terms is quite constant showing the need for literacy in public finance. In recent years, the accredited tax burden of Lithuania has been more than thirty per cent of the country's nominal gross domestic product. However, political leaders and experts suggest plans for increasing Lithuania's tax burden. Besides, there was a critical error concerning contributions to social insurance and compulsory health insurance funds. Fortunately, in 2018, the national budget included social payments in the budget revenues.
The sustainability of national finances is certainly an important issue for a country's development. These aggregate perceptions change the public sector of the nation and the safety of citizens' lives. Therefore, a significant focus on broadly improving financial research can be a significant issue. In addition, this activity may be organized in connection with applicable higher education programs. On the other hand, the understanding of financial management of governments in different countries are treated differently. This is becoming an increasingly important condition that broadly discussion does not directly benefit the overall development of financial education in recent years. One of the possible ways to deal with personal finances in various economic conditions may be a change in the attitude towards knowledge financing among top management in universities. Young people can be supported by financial education programs that are clearly included in their underground or postgraduate courses. A proper management of education programs can help improve student learning experiences and economic well-being. In addition, training based on transparent public administration reliably fosters patriots of the country and people's intolerance for non-transparent activities of public servants. Another important task of the paper is to show how the management of public debt and government spending can affect the sustainability of fiscal policy. In addition, this document also attempts to clarify questions about the economic importance of financial education at all levels of education. This concept of tax burden can encourage every citizen to be responsible for the activities of government employees and for the transparency of the budget planning process. Improving government revenues is indeed a complicated procedure. Because the same concept of taxes is used as in fixed costs for the public sector, when a person does not directly receive anything but additional payments for most public sector services. Thus, the confusion of economical terms is fairly constant, that again demonstrates a need for public finance literacy in all finance areas. Definitely it is a serious programme for scientists [.]
The sustainability of national finances is certainly an important issue for a country's development. These aggregate perceptions change the public sector of the nation and the safety of citizens' lives. Therefore, a significant focus on broadly improving financial research can be a significant issue. In addition, this activity may be organized in connection with applicable higher education programs. On the other hand, the understanding of financial management of governments in different countries are treated differently. This is becoming an increasingly important condition that broadly discussion does not directly benefit the overall development of financial education in recent years. One of the possible ways to deal with personal finances in various economic conditions may be a change in the attitude towards knowledge financing among top management in universities. Young people can be supported by financial education programs that are clearly included in their underground or postgraduate courses. A proper management of education programs can help improve student learning experiences and economic well-being. In addition, training based on transparent public administration reliably fosters patriots of the country and people's intolerance for non-transparent activities of public servants. Another important task of the paper is to show how the management of public debt and government spending can affect the sustainability of fiscal policy. In addition, this document also attempts to clarify questions about the economic importance of financial education at all levels of education. This concept of tax burden can encourage every citizen to be responsible for the activities of government employees and for the transparency of the budget planning process. Improving government revenues is indeed a complicated procedure. Because the same concept of taxes is used as in fixed costs for the public sector, when a person does not directly receive anything but additional payments for most public sector services. Thus, the confusion of economical terms is fairly constant, that again demonstrates a need for public finance literacy in all finance areas. Definitely it is a serious programme for scientists [.]
The improvement of public finances is an important issue for any country's development. This content is changing public sector and sustainability of citizens environment; therefore, much attention is paid to the widespread improvement of financial research. In addition, activities may be organized in connection with applicable higher education programs. On the other hand, education in the field of financial management in different countries is interpreted differently. It has become increasingly important that such a discussion does not directly contribute to the overall development of financial education in recent years. One of the possible ways to handle personal finances in various economic conditions may be to change the attitude of students to the knowledge provided by universities. Young people should be supported by financial education included in their study programs. Proper management of these programs helps to improve the educational process and their economic ituation. Ultimately, the best way to determine the tax paid by individuals and legal entities could be called their rate of tax burden. However, an ordinary citizen who lives only from the income related to labor relations and has a higher tax burden may be a more important problem. Another key objective of the paper is to disclose how citizens perceive taxation and public spending. The objective of the paper is to show the impact of the tax incidence in Lithuania during the last decade. Thus, we can consider almost doubled increase in the burden of direct taxes compared with the officially declared average tax burden of the country. Nonetheless, an additional tax burden includes hidden taxes related to payments from the individuals' total income. On the average, the tax burden for an ordinary worker can be about two-thirds of his/her gross annual income. The perception of the tax burden can lead every citizen of the country to be responsible for all the actions of public servants and budget planning processes. Raising government revenues is often difficult due to the use of the concept of fixed costs for public sector when a person directly pays additional payments for most public sector services. Thus, the confusion of terms is quite constant showing the need for literacy in public finance. In recent years, the accredited tax burden of Lithuania has been more than thirty per cent of the country's nominal gross domestic product. However, political leaders and experts suggest plans for increasing Lithuania's tax burden. Besides, there was a critical error concerning contributions to social insurance and compulsory health insurance funds. Fortunately, in 2018, the national budget included social payments in the budget revenues.
The sustainability of national finances is certainly an important issue for a country's development. These aggregate perceptions change the public sector of the nation and the safety of citizens' lives. Therefore, a significant focus on broadly improving financial research can be a significant issue. In addition, this activity may be organized in connection with applicable higher education programs. On the other hand, the understanding of financial management of governments in different countries are treated differently. This is becoming an increasingly important condition that broadly discussion does not directly benefit the overall development of financial education in recent years. One of the possible ways to deal with personal finances in various economic conditions may be a change in the attitude towards knowledge financing among top management in universities. Young people can be supported by financial education programs that are clearly included in their underground or postgraduate courses. A proper management of education programs can help improve student learning experiences and economic well-being. In addition, training based on transparent public administration reliably fosters patriots of the country and people's intolerance for non-transparent activities of public servants. Another important task of the paper is to show how the management of public debt and government spending can affect the sustainability of fiscal policy. In addition, this document also attempts to clarify questions about the economic importance of financial education at all levels of education. This concept of tax burden can encourage every citizen to be responsible for the activities of government employees and for the transparency of the budget planning process. Improving government revenues is indeed a complicated procedure. Because the same concept of taxes is used as in fixed costs for the public sector, when a person does not directly receive anything but additional payments for most public sector services. Thus, the confusion of economical terms is fairly constant, that again demonstrates a need for public finance literacy in all finance areas. Definitely it is a serious programme for scientists [.]
The improvement of public finances is an important issue for any country's development. This content is changing public sector and sustainability of citizens environment; therefore, much attention is paid to the widespread improvement of financial research. In addition, activities may be organized in connection with applicable higher education programs. On the other hand, education in the field of financial management in different countries is interpreted differently. It has become increasingly important that such a discussion does not directly contribute to the overall development of financial education in recent years. One of the possible ways to handle personal finances in various economic conditions may be to change the attitude of students to the knowledge provided by universities. Young people should be supported by financial education included in their study programs. Proper management of these programs helps to improve the educational process and their economic ituation. Ultimately, the best way to determine the tax paid by individuals and legal entities could be called their rate of tax burden. However, an ordinary citizen who lives only from the income related to labor relations and has a higher tax burden may be a more important problem. Another key objective of the paper is to disclose how citizens perceive taxation and public spending. The objective of the paper is to show the impact of the tax incidence in Lithuania during the last decade. Thus, we can consider almost doubled increase in the burden of direct taxes compared with the officially declared average tax burden of the country. Nonetheless, an additional tax burden includes hidden taxes related to payments from the individuals' total income. On the average, the tax burden for an ordinary worker can be about two-thirds of his/her gross annual income. The perception of the tax burden can lead every citizen of the country to be responsible for all the actions of public servants and budget planning processes. Raising government revenues is often difficult due to the use of the concept of fixed costs for public sector when a person directly pays additional payments for most public sector services. Thus, the confusion of terms is quite constant showing the need for literacy in public finance. In recent years, the accredited tax burden of Lithuania has been more than thirty per cent of the country's nominal gross domestic product. However, political leaders and experts suggest plans for increasing Lithuania's tax burden. Besides, there was a critical error concerning contributions to social insurance and compulsory health insurance funds. Fortunately, in 2018, the national budget included social payments in the budget revenues.
The aim of this paper is to analyze the influence of foreign capital on the commercial banking sector of the emerging markets. The entry of foreign banks into the markets of Central and Eastern European countries (CEECs) has been rapid, remarkable and massive. This paper presents some empirical results of foreign banks' entry, activities, operation and strategies in four CEECs (Estonia, Lithuania, Poland, and Romania); the first three of them have already joined the European Union integrated financial market in May 2004. The paper is based on a special survey results obtained by the authors from domestic and foreign-owned banks in these countries. Meanwhile mergers and acquisitions of the domestic banks are rather technical details of a foreign capital influx. According to our results, the main incentives motivating foreign entry have been to exploit new business opportunities and/or market expansion strategies. The host country market specifics, advantages and disadvantages of foreign banks, main target groups, and fields of activities, as well as foreign banks' motives for strategic long-term stay in the host country market some more important characteristics of banks' governance and management are also discussed. Interesting are the questions who are the key decision-makers in the majority of foreign-owned banks, how banks have adopted knowhow and risk management systems from the mother bank, how the mother bank helps its daughter in the host country, etc. The issues of the competitive pressure by foreign banks and the domestic banks' survival prospects are also addressed in the paper. ; Šios publikacijos tikslas yra apžvelgti užsienio finansų institucijų įtaką kai kurių naujų ES narių ir Lietuvos komercinei bankininkystei pereinant iš centrinio planavimo į rinkos ekonomiką. Darbe naudoti aprašomasis ir priežastinės lyginamosios analizės tyrimo metodai Buvo atlikta Lietuvos komercinių bankų vadovų ir darbuotojų apklausa pagal autoriaus parengtą anketą, kuri sudaryta bendradarbiaujant su Talino technikos universiteto, Kopenhagos verslo mokyklos bei Poznanės ekonomikos universiteto mokslininkais. Straipsnyje nagrinėjami kredito rinkų globalizacijos XX ir XXI amžių sandūroje klausimai. Vienas iš svaTbiausių struktūrinių XX amžiaus devintojo dešimtmečio pabaigos Vidurio ir Rytų Europos finansų sistemų pokyčių buvo užsienio kapitalo valdomų finansų institucijų įtaka tų šalių bankinėje sistemoje. Daugelis naujų rinkų sumažino prekybos barjerus finansinėms paslaugoms jau nuo XX amžiaus devintojo dešimtmečio pradžios. Padidėjęs užsienio kapitalo dalyvavimas paskatino parengti nemažai mokslinių tyrimų ir studijų, skirtų išsiaiškinti užsienio bankų dalyvavimo įtaką valstybės finansinėse sistemose (Mathieson, 2001; Repullo, 2000; Saavalainon, 1995). Šiame tyrime pateikiama užsienio ir vietos bankų funkcijų analizė Lietuvos valstybės kontekste. Pateiktame darbe tiriama užsienio finansų institucijų siūlomas produktų ir paslaugų asortimentas bei jų palyginimą su vietinių bankų paslaugų ir bankinių prekių pasiūlymais. Skirtumai tarp strategijų, produktų ir paslaugų, vadovavimo procesų bei vadybinės informacinės sistemos užsienio ir vietos bankuose yra gana dideli. Istoriškai užsienio bankų veikla naujose rinkose dažnai buvo ribojama. Daugelyje šalių tokia veikla ir dabar griežtai kontroliuojama. Pavyzdžiui uždrausta arba apribota atidaryti naujus filialus ar skyrius. Dėl to užsienio kapitalo bankai sukaupė dali bankinių aktyvų kitose šalyse (Pomerleano, 2001). Peržvelgus pastarųjų dešimtmečių bankų istoriją mažai yra pasaulyje šalių, kurios išvengė mažesnės ar didesnės bankų krizės. Thi paveikė net ir Vakarų Europos ir Šiaurės Amerikos industrines šalis, tačiau finansinės problemos ir krizės padariniai šiose šalyse yra skirtingi industrinės šalys į finansinę krizę dažnai patenka dėl makroekonominių problemų (Bonin, 1998). Kylančios ekonomikos šalyse prie ekonominių problemų neretai prisideda vyriausybės veiklos problemos, centrinio banko komercinių bankų priežiūros klaidos bei ydingas bankų valdymas. Todėl tokia bankinės krizės priežasčių gausybė sukuria pagrindą praktiniam moksliniam tyrimui ne tik istoriniu, bet ir teoriniu aspektu. Tho požiūriu Lietuva nėra išimtis Vidurio ir Rytų Europos kylančiose finansų rinkose (Bannerjee, 1995).Apžvelgiant Lietuvos bankų ir kredito rinkų globalizacijos aspektus reiktų pažymėti, kad tik po Lietuvos Nepriklausomybės atkūrimo buvo pradėta reforma, lėmusi perėjimą į rinkos ekonomiką. Pastaraisiais metais viena iš svarbiausių tebevykstančios transformacijos problemų Vidurio ir Rytų Europos rinkoje yra bankinio sektoriaus restruktūrizacija, ypač atsižvelgiant į artėjančią Europos Sąjungos narystę. Perėjimas prie rinkos ekonomikos nulėmė, jog komerciniai bankai turėjo būti restruktūrizuotis kad vykdytų tradicines Vakarų šalių bankų operacijas (Chakravarty, 1998). Straipsnyje taip pat nagrinėjamos kai kurios teorinės ir praktinės priežastys, kodėl užsienio kapitalo bankai išeina ir lieka kitose šalyse. Bankų įsigijimai ir susiliejimai gali būti nagrinėjami kaip techniniai metodai užsienio kapitalui ateinant į šalies šeimininkės finansų rinkas, ir tai nėra šio straipsnio tikslas. Apibendrinant atliktus tyrimus, įvertinami užsienio kapitalo bankų konkurenciniai pranašumai ir trūkumai bei galimos Lietuvos kapitalo komercinių bankų strateginės perspektyvos. Taip pat pateikiami užsienio ir nacionalinio kapitalo bankų valdymo principų skirtumai ir panašumai. Gauti apklausos rezultatai parodo, kad užsienio kapitalo valdomi bankai dominuoja stambių įmonių kreditavimo ir paskolų rizikos vadybos srityje, o pagrindinė užsienio kapitalo bankų atėjimo į Lietuvos rinką priežastis yra naujos verslo galimybės. Tai skiriasi nuo panašių apklausų, atliktų Estijoje ir Lenkijoje rezultatų, kur svarbesnės užsienio kapitalo bankų skverbimosi priežastys yra naujų vartotojų ir rinkų ieškojimas. Beje, požiūriai į šiuos reiškinius yra panašūs, apklausiant tos pačios šalies vietos ir užsienio kapitalo bankus. Apžvelgiant rezultatus, matyt, kad naujų verslo galimybių ir naujų klientų paieška vertinama kaip svarbus užsienio kapitalo bankų investicijų motyvas. Be to, kiti užsienio kapitalo bankų pranašumai Lietuvoje yra geresnės paskolų palūkanos, platesnis kapitalo šaltinių prieinamumas, gera reputacija ir aiškesnis rizikos valdymas. Kita vertus, nacionalinio kapitalo bankų pranašumai yra geresnis vartotojų poreikių žinojimas ir ilgalaikiai verslo ryšiai su jais. Beje, toks rezultatas sutampa ir su bankų internacionalizacijos teorija, apžvelgta šiame straipsnyje. Lietuvos rinkoje užsienio ir vietos kapitalo bankai išskiria skirtingas tikslinių klientų grupes, bei skirtingas veiklos sritis. Gana akivaizdu, kad užsienio kapitalo bankų atėjimas pagerino naujų paslaugų teikimą Lietuvos bankininkystėje. Tai parodo platus bankinių paslaugų spektras, kuri pateikia Vilniaus bankas ir Haosabankas, šiuo metu didžiausi Lietuvos bankai, taip pat turintys ir didžiausią užsienio kapitalo dalį. Pžymėtina, kad iš užsienio kapitalo bankų yra perimta nauja rizikos valdymo patirtis bei šiuolaikiniai vadybos metodai. Atliekant tyrimą paaiškėjo, jog nacionalinio kapitalo bankai yra sunerimę dėl didelio užsienio kapitalo bankų konkurencinio spaudimo artimoje ateityje. Geriausi verslo klientai bei ilgalaikių paskolų rinkos segmentai gali būti prarasti Kita vertus nacionalinio kapitalo bankai mato savo perspektyvas namų ūkio taupomosiose ir einamosiose sąskaitose bei vartojimo paskolose. Iširimo duomenimis, dauguma nacionalinio kapitalo bankų numato visai nepriklausomą veiklą tik netolimoje ateityje, tai yra maždaug iki penkerių metų. Be to, perspektyvos parduoti kontrolinį akcijų paketą užsienio kapitalo partneriui dominuoja, planuojant šių bankų ateitį. Šio tyrimo rezultatai rodo, kad dėl užsienio kapitalo atėjimo į Lietuvos finansų rinkas komerciniai bankai bendrai tapo labiau konkurencingi o bankininkystės sektorius gerokai patikimesnis.
