Suchergebnisse

Available studies indicate a strong negative correlation between poverty and social expenditures in EU countries. It means that the country's at-risk-of-poverty rate tends to erode with increasing social expenditure. However, the studies have demonstrated that the impact of government spending on poverty may vary according to the sector of spending, how well it is targeted, and the way in which it is financed. Some countries manage to achieve a rather significant poverty rate reduction even with relatively low, in the context of other Member States, social expenditure (percentage of GDP). This suggests that in order to reduce poverty rates, it is important to consider not only the amount allocated to social spending, but also the areas the social transfers are channelled to. The article aims to analyse how the composition and the extent of social spending/transfers may affect poverty reduction in EU countries. The analysis showed that social protection transfers reduce the percentage of people at-risk-of-poverty in all countries, however, to a very different extent. Regression analysis demonstrated that social exclusion and family/children expenditure was found to be the most important predictor for a relative antipoverty effect of social transfers: even a small percentage increase in such expenditure allows quite a significant increase in the relative antipoverty effect of social transfers.

Available studies indicate a strong negative correlation between poverty and social expenditures in EU countries. It means that the country's at-risk-of-poverty rate tends to erode with increasing social expenditure. However, the studies have demonstrated that the impact of government spending on poverty may vary according to the sector of spending, how well it is targeted, and the way in which it is financed. Some countries manage to achieve a rather significant poverty rate reduction even with relatively low, in the context of other Member States, social expenditure (percentage of GDP). This suggests that in order to reduce poverty rates, it is important to consider not only the amount allocated to social spending, but also the areas the social transfers are channelled to. The article aims to analyse how the composition and the extent of social spending/transfers may affect poverty reduction in EU countries. The analysis showed that social protection transfers reduce the percentage of people at-risk-of-poverty in all countries, however, to a very different extent. Regression analysis demonstrated that social exclusion and family/children expenditure was found to be the most important predictor for a relative antipoverty effect of social transfers: even a small percentage increase in such expenditure allows quite a significant increase in the relative antipoverty effect of social transfers.

Available studies indicate a strong negative correlation between poverty and social expenditures in EU countries. It means that the country's at-risk-of-poverty rate tends to erode with increasing social expenditure. However, the studies have demonstrated that the impact of government spending on poverty may vary according to the sector of spending, how well it is targeted, and the way in which it is financed. Some countries manage to achieve a rather significant poverty rate reduction even with relatively low, in the context of other Member States, social expenditure (percentage of GDP). This suggests that in order to reduce poverty rates, it is important to consider not only the amount allocated to social spending, but also the areas the social transfers are channelled to. The article aims to analyse how the composition and the extent of social spending/transfers may affect poverty reduction in EU countries. The analysis showed that social protection transfers reduce the percentage of people at-risk-of-poverty in all countries, however, to a very different extent. Regression analysis demonstrated that social exclusion and family/children expenditure was found to be the most important predictor for a relative antipoverty effect of social transfers: even a small percentage increase in such expenditure allows quite a significant increase in the relative antipoverty effect of social transfers.

Available studies indicate a strong negative correlation between poverty and social expenditures in EU countries. It means that the country's at-risk-of-poverty rate tends to erode with increasing social expenditure. However, the studies have demonstrated that the impact of government spending on poverty may vary according to the sector of spending, how well it is targeted, and the way in which it is financed. Some countries manage to achieve a rather significant poverty rate reduction even with relatively low, in the context of other Member States, social expenditure (percentage of GDP). This suggests that in order to reduce poverty rates, it is important to consider not only the amount allocated to social spending, but also the areas the social transfers are channelled to. The article aims to analyse how the composition and the extent of social spending/transfers may affect poverty reduction in EU countries. The analysis showed that social protection transfers reduce the percentage of people at-risk-of-poverty in all countries, however, to a very different extent. Regression analysis demonstrated that social exclusion and family/children expenditure was found to be the most important predictor for a relative antipoverty effect of social transfers: even a small percentage increase in such expenditure allows quite a significant increase in the relative antipoverty effect of social transfers.

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

Electronic Money: Issues of Legal Regulation Consistent legal regulation of e-money in European Union has started by adoption of the Directive 2000/46/EB - it was the first legal act which has set the definition and basic rules on e-money institutions. Despite the fact that Commission had seen e-money as potential to encourage electronic commerce and innovation in EU and probably the way to cashless society, the first e-money Directive was far from reaching these objectives and instead of fostering innovation and competition, hindered it. The Directive 2000/46/EB had created an inconsistent legal regime for e-money institutions: prudential rules were still too restrictive and the idea of considering e-money institutions as a subcategory of credit institution was highly doubtful. The definition of e-money received a lot of criticism, because it had created legal uncertainty, Directive's scope of applicability was unclear and open to interpretations. The main shortcomings were recognized and the new e-money Directive 2009/110/EB has made significant changes in legal regulation of e-money. First of all, e-money institutions are not considered as a subcategory of credit institutions anymore. The concept of e-money is now more closely linked to payment services rather than credit institutions. As a result, more proportionate prudential requirements are set: lover capital requirements, possibility to deploy other activities, etc. Furthermore, the Directive 2009/110/EB has established more technically neutral and simpler definition of e-money, stating that e-money is electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than the electronic money issuer. Most issues of legal regulation are largely caused by the newness of e-money as means of payment, ambitious Commission's choice of early regulation, lack of consideration of consistent and appropriate definition of e-money and realistic predictions of future market development.

Electronic Money: Issues of Legal Regulation Consistent legal regulation of e-money in European Union has started by adoption of the Directive 2000/46/EB - it was the first legal act which has set the definition and basic rules on e-money institutions. Despite the fact that Commission had seen e-money as potential to encourage electronic commerce and innovation in EU and probably the way to cashless society, the first e-money Directive was far from reaching these objectives and instead of fostering innovation and competition, hindered it. The Directive 2000/46/EB had created an inconsistent legal regime for e-money institutions: prudential rules were still too restrictive and the idea of considering e-money institutions as a subcategory of credit institution was highly doubtful. The definition of e-money received a lot of criticism, because it had created legal uncertainty, Directive's scope of applicability was unclear and open to interpretations. The main shortcomings were recognized and the new e-money Directive 2009/110/EB has made significant changes in legal regulation of e-money. First of all, e-money institutions are not considered as a subcategory of credit institutions anymore. The concept of e-money is now more closely linked to payment services rather than credit institutions. As a result, more proportionate prudential requirements are set: lover capital requirements, possibility to deploy other activities, etc. Furthermore, the Directive 2009/110/EB has established more technically neutral and simpler definition of e-money, stating that e-money is electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than the electronic money issuer. Most issues of legal regulation are largely caused by the newness of e-money as means of payment, ambitious Commission's choice of early regulation, lack of consideration of consistent and appropriate definition of e-money and realistic predictions of future market development.

Spanish electronic government projects are analysed in this article. These projects are the reduction of prices for the Internet connection, information society development, modern tax system in Internet, electronic election possibilities and perspectives, "Unified Internet window" project, electronic certificates project, telework establishment and the perspectives of electronic administration. Spanish electronic government were creating in the realization of individual projects from the year 1998. Spain is a young and quickly developing European Union state and because of this the experience of Spanish e-government projects would be very useful for Lithuania.

Spanish electronic government projects are analysed in this article. These projects are the reduction of prices for the Internet connection, information society development, modern tax system in Internet, electronic election possibilities and perspectives, "Unified Internet window" project, electronic certificates project, telework establishment and the perspectives of electronic administration. Spanish electronic government were creating in the realization of individual projects from the year 1998. Spain is a young and quickly developing European Union state and because of this the experience of Spanish e-government projects would be very useful for Lithuania.

Innovations in the field of the electronic payment instruments were determined by a fast development of technologies and electronic commerce. Electronic money, as one of kinds of the electronic payment instruments, gradually becomes an important subject of research performed by representatives of economics and law sciences. By adopting the Directive 2000/46/EC of the European Parliament and of the Council (of 18 September 2000) on the taking up, pursuit of and prudential supervision of the business of electronic money institutions and the Directive 2000/28/EC of the European Parliament and of the Council (of 18 September 2000) amending the Directive 2000/12/EC relating to the taking up and pursuit of the business of credit institutions, the concerted regulation of legal relations in the field of electronic money was established in the European Union Law and now is being reviewed seeking, first of all, to soften some of requirements applied to the electronic money institutions. "Electronic money", following the Directive 2000/46/EB, shall mean the monetary value which is: (i) stored on an electronic device; (ii) issued on receipt of funds of an amount not less in value than the monetary value issued; (iii) accepted as means of payment by undertakings other than the issuer. Electronic money can be considered an electronic surrogate for coins and banknotes, which is stored on an electronic device such as a chip card or computer memory. Furthermore, it is prohibited to be engaged in activities on the electronic money issue for entities other than credit institutions. Meanwhile, Lithuania, on May 1st, 2004, having entered into the European Union as a full member state, has undertaken to harmonize the national law with the law of the European Union in the field of electronic money. When estimating the implementation of provisions of the European Union legal acts in the national law, it may be noticed that provisions of the European Union legal acts, as a matter of fact, have been duly transferred to the national law, with except of certain inaccuracies especially in the sense of terminology.