Suchergebnisse

[full article and abstract in Lithuanian; abstract in English] Lithuanian economy, over the last century, has been subject to significant changes and various vicissitudes. After restoring its independence (1918), Lithuania had to start everything from the very beginning, i.e. as soon as possible to commence the development of its own economy under challenging and complex political conditions. Small and medium-sized business, crafts, retail trade were the first significant changes. Unfortunately, Lithuania, at that time, was missing its own independent, entrepreneurial, life-innovation-sensitive entrepreneurs' layer. The foregoing was determined both by objective (the global economic crisis) and subjective (lack of working capital, negligible purchasing power, public institutions' red tape, etc.) reasons. The inter-war period was too short for Lithuania's economy to obtain the best possible results though certain conditions were ensured, and much solid work was done in the field of social policy. Current politicians and economists still have what to learn from that time political insight, economic rationality, legislative technique. Unfortunately, the Second World War and the subsequent authoritarian character of the Soviet Union's economy influenced the nature of Lithuania's economy, irrational attitude towards its changes taking place at that time. For very many, restoration of independence was unexpected. It was necessary to start managing Lithuanian economy in the absence of almost any practical, scientific expertise and input so that to begin objective and significant economic reforms. In order to focus on European management standards, Lithuania should substantially improve its management in all activity fields. Unfortunately, Lithuania's science is still lacking the applied research orientation, natural connection of theory and practice. Becoming a Member State of the European Union, we should manage to realize ourselves. Only universal prosperity, high level of cultural and well educated youth, as well as proper and sufficient understanding of democracy ideals will enable Lithuania to speed up its efforts and to become a full member of the free EU. Marginal efficiency theory, Keynesian view, neoclassical attitude towards economics, Monetarism, Neoliberalism and institutionalists' attitudes, hopefully, will promote the efforts to form a base of uniform researches, favorable for political scientists and economists. Creation of macroeconomics, undoubtedly, is a major achievement of the 20th Century economics. Nobel Prize Laureates: Milton Friedman, James Tobin, Franco Modigliani, Lawrence R. Klein, Robert M. Solow and other famous scientists are the most prominent contributors in this field. Regretfully, the reverse process still often happens on the Lithuanian revival path: fragmentation of social sciences, i.e. theoretical researches are prevailing over the empirical studies in the field of social sciences abroad. Lithuania, however, is still lacking the same. The number of successors of the interwar-period intellectuals (D. Cesevičius, D. Budrys, P. Padalskis and others) is alarmingly low. Current economists do not have enough consistency and are not well prepared from the theoretical point of view. In my opinion, teaching assignments of the mathematized economic theory for the 21st Century's future economists shall be notably reinforced and enhanced. Furthermore, they should be able themselves not only to interpret such theories, but also to create new ones. Full symbiosis of the economic theory and practice is of vital importance.

[full article and abstract in Lithuanian; abstract in English] Lithuanian economy, over the last century, has been subject to significant changes and various vicissitudes. After restoring its independence (1918), Lithuania had to start everything from the very beginning, i.e. as soon as possible to commence the development of its own economy under challenging and complex political conditions. Small and medium-sized business, crafts, retail trade were the first significant changes. Unfortunately, Lithuania, at that time, was missing its own independent, entrepreneurial, life-innovation-sensitive entrepreneurs' layer. The foregoing was determined both by objective (the global economic crisis) and subjective (lack of working capital, negligible purchasing power, public institutions' red tape, etc.) reasons. The inter-war period was too short for Lithuania's economy to obtain the best possible results though certain conditions were ensured, and much solid work was done in the field of social policy. Current politicians and economists still have what to learn from that time political insight, economic rationality, legislative technique. Unfortunately, the Second World War and the subsequent authoritarian character of the Soviet Union's economy influenced the nature of Lithuania's economy, irrational attitude towards its changes taking place at that time. For very many, restoration of independence was unexpected. It was necessary to start managing Lithuanian economy in the absence of almost any practical, scientific expertise and input so that to begin objective and significant economic reforms. In order to focus on European management standards, Lithuania should substantially improve its management in all activity fields. Unfortunately, Lithuania's science is still lacking the applied research orientation, natural connection of theory and practice. Becoming a Member State of the European Union, we should manage to realize ourselves. Only universal prosperity, high level of cultural and well educated youth, as well as proper and sufficient understanding of democracy ideals will enable Lithuania to speed up its efforts and to become a full member of the free EU. Marginal efficiency theory, Keynesian view, neoclassical attitude towards economics, Monetarism, Neoliberalism and institutionalists' attitudes, hopefully, will promote the efforts to form a base of uniform researches, favorable for political scientists and economists. Creation of macroeconomics, undoubtedly, is a major achievement of the 20th Century economics. Nobel Prize Laureates: Milton Friedman, James Tobin, Franco Modigliani, Lawrence R. Klein, Robert M. Solow and other famous scientists are the most prominent contributors in this field. Regretfully, the reverse process still often happens on the Lithuanian revival path: fragmentation of social sciences, i.e. theoretical researches are prevailing over the empirical studies in the field of social sciences abroad. Lithuania, however, is still lacking the same. The number of successors of the interwar-period intellectuals (D. Cesevičius, D. Budrys, P. Padalskis and others) is alarmingly low. Current economists do not have enough consistency and are not well prepared from the theoretical point of view. In my opinion, teaching assignments of the mathematized economic theory for the 21st Century's future economists shall be notably reinforced and enhanced. Furthermore, they should be able themselves not only to interpret such theories, but also to create new ones. Full symbiosis of the economic theory and practice is of vital importance.

[full article and abstract in Lithuanian; abstract in English] Lithuanian economy, over the last century, has been subject to significant changes and various vicissitudes. After restoring its independence (1918), Lithuania had to start everything from the very beginning, i.e. as soon as possible to commence the development of its own economy under challenging and complex political conditions. Small and medium-sized business, crafts, retail trade were the first significant changes. Unfortunately, Lithuania, at that time, was missing its own independent, entrepreneurial, life-innovation-sensitive entrepreneurs' layer. The foregoing was determined both by objective (the global economic crisis) and subjective (lack of working capital, negligible purchasing power, public institutions' red tape, etc.) reasons. The inter-war period was too short for Lithuania's economy to obtain the best possible results though certain conditions were ensured, and much solid work was done in the field of social policy. Current politicians and economists still have what to learn from that time political insight, economic rationality, legislative technique. Unfortunately, the Second World War and the subsequent authoritarian character of the Soviet Union's economy influenced the nature of Lithuania's economy, irrational attitude towards its changes taking place at that time. For very many, restoration of independence was unexpected. It was necessary to start managing Lithuanian economy in the absence of almost any practical, scientific expertise and input so that to begin objective and significant economic reforms. In order to focus on European management standards, Lithuania should substantially improve its management in all activity fields. Unfortunately, Lithuania's science is still lacking the applied research orientation, natural connection of theory and practice. Becoming a Member State of the European Union, we should manage to realize ourselves. Only universal prosperity, high level of cultural and well educated youth, as well as proper and sufficient understanding of democracy ideals will enable Lithuania to speed up its efforts and to become a full member of the free EU. Marginal efficiency theory, Keynesian view, neoclassical attitude towards economics, Monetarism, Neoliberalism and institutionalists' attitudes, hopefully, will promote the efforts to form a base of uniform researches, favorable for political scientists and economists. Creation of macroeconomics, undoubtedly, is a major achievement of the 20th Century economics. Nobel Prize Laureates: Milton Friedman, James Tobin, Franco Modigliani, Lawrence R. Klein, Robert M. Solow and other famous scientists are the most prominent contributors in this field. Regretfully, the reverse process still often happens on the Lithuanian revival path: fragmentation of social sciences, i.e. theoretical researches are prevailing over the empirical studies in the field of social sciences abroad. Lithuania, however, is still lacking the same. The number of successors of the interwar-period intellectuals (D. Cesevičius, D. Budrys, P. Padalskis and others) is alarmingly low. Current economists do not have enough consistency and are not well prepared from the theoretical point of view. In my opinion, teaching assignments of the mathematized economic theory for the 21st Century's future economists shall be notably reinforced and enhanced. Furthermore, they should be able themselves not only to interpret such theories, but also to create new ones. Full symbiosis of the economic theory and practice is of vital importance.

[full article and abstract in Lithuanian; abstract in English] Lithuanian economy, over the last century, has been subject to significant changes and various vicissitudes. After restoring its independence (1918), Lithuania had to start everything from the very beginning, i.e. as soon as possible to commence the development of its own economy under challenging and complex political conditions. Small and medium-sized business, crafts, retail trade were the first significant changes. Unfortunately, Lithuania, at that time, was missing its own independent, entrepreneurial, life-innovation-sensitive entrepreneurs' layer. The foregoing was determined both by objective (the global economic crisis) and subjective (lack of working capital, negligible purchasing power, public institutions' red tape, etc.) reasons. The inter-war period was too short for Lithuania's economy to obtain the best possible results though certain conditions were ensured, and much solid work was done in the field of social policy. Current politicians and economists still have what to learn from that time political insight, economic rationality, legislative technique. Unfortunately, the Second World War and the subsequent authoritarian character of the Soviet Union's economy influenced the nature of Lithuania's economy, irrational attitude towards its changes taking place at that time. For very many, restoration of independence was unexpected. It was necessary to start managing Lithuanian economy in the absence of almost any practical, scientific expertise and input so that to begin objective and significant economic reforms. In order to focus on European management standards, Lithuania should substantially improve its management in all activity fields. Unfortunately, Lithuania's science is still lacking the applied research orientation, natural connection of theory and practice. Becoming a Member State of the European Union, we should manage to realize ourselves. Only universal prosperity, high level of cultural and well educated youth, as well as proper and sufficient understanding of democracy ideals will enable Lithuania to speed up its efforts and to become a full member of the free EU. Marginal efficiency theory, Keynesian view, neoclassical attitude towards economics, Monetarism, Neoliberalism and institutionalists' attitudes, hopefully, will promote the efforts to form a base of uniform researches, favorable for political scientists and economists. Creation of macroeconomics, undoubtedly, is a major achievement of the 20th Century economics. Nobel Prize Laureates: Milton Friedman, James Tobin, Franco Modigliani, Lawrence R. Klein, Robert M. Solow and other famous scientists are the most prominent contributors in this field. Regretfully, the reverse process still often happens on the Lithuanian revival path: fragmentation of social sciences, i.e. theoretical researches are prevailing over the empirical studies in the field of social sciences abroad. Lithuania, however, is still lacking the same. The number of successors of the interwar-period intellectuals (D. Cesevičius, D. Budrys, P. Padalskis and others) is alarmingly low. Current economists do not have enough consistency and are not well prepared from the theoretical point of view. In my opinion, teaching assignments of the mathematized economic theory for the 21st Century's future economists shall be notably reinforced and enhanced. Furthermore, they should be able themselves not only to interpret such theories, but also to create new ones. Full symbiosis of the economic theory and practice is of vital importance.

Positive accounting theory is one of the basic financial accounting theories. This theory seeks to explain and predict accounting practice of the company. positive accounting theory include three mainstreams of empirical research: I) three hypotheses (the bonus plan hypothesis, the financial leverage hypothesis and the size hypothesis) explaining accounting policy choice by the managers are tested; 2) earnings manipuJation (earnings management, income smoothing, 'taking the bath') and creative accounting are anaJyzed; and 3) the reaction of capitaJ market to reported accounting numbers and changes of policy methods are researched. Positive accounting theory is considered as a good economic theory, but it is criticized by some authors. Positive accounting theory do not gives prescriptions for accounting practice, it does not say something about good or bad accounting policy of the company. researchers do not take into account relations between managers and accountants in the companies in their empirical investigations. Hypotheses of positive accounting theory and resuJts of many investigations are based on the accounting policy of large politica1Jy sensitive (for example, oi! and gas) companies in well-developed countries, but results of hypotheses' testing may differ analyzing accounting policy choices of small companies in the middle economy countries. Despite critics positive accounting theory stays mostly grounded accounting research paradigm during last decades.

Positive accounting theory is one of the basic financial accounting theories. This theory seeks to explain and predict accounting practice of the company. positive accounting theory include three mainstreams of empirical research: I) three hypotheses (the bonus plan hypothesis, the financial leverage hypothesis and the size hypothesis) explaining accounting policy choice by the managers are tested; 2) earnings manipuJation (earnings management, income smoothing, 'taking the bath') and creative accounting are anaJyzed; and 3) the reaction of capitaJ market to reported accounting numbers and changes of policy methods are researched. Positive accounting theory is considered as a good economic theory, but it is criticized by some authors. Positive accounting theory do not gives prescriptions for accounting practice, it does not say something about good or bad accounting policy of the company. researchers do not take into account relations between managers and accountants in the companies in their empirical investigations. Hypotheses of positive accounting theory and resuJts of many investigations are based on the accounting policy of large politica1Jy sensitive (for example, oi! and gas) companies in well-developed countries, but results of hypotheses' testing may differ analyzing accounting policy choices of small companies in the middle economy countries. Despite critics positive accounting theory stays mostly grounded accounting research paradigm during last decades.

Positive accounting theory is one of the basic financial accounting theories. This theory seeks to explain and predict accounting practice of the company. positive accounting theory include three mainstreams of empirical research: I) three hypotheses (the bonus plan hypothesis, the financial leverage hypothesis and the size hypothesis) explaining accounting policy choice by the managers are tested; 2) earnings manipuJation (earnings management, income smoothing, 'taking the bath') and creative accounting are anaJyzed; and 3) the reaction of capitaJ market to reported accounting numbers and changes of policy methods are researched. Positive accounting theory is considered as a good economic theory, but it is criticized by some authors. Positive accounting theory do not gives prescriptions for accounting practice, it does not say something about good or bad accounting policy of the company. researchers do not take into account relations between managers and accountants in the companies in their empirical investigations. Hypotheses of positive accounting theory and resuJts of many investigations are based on the accounting policy of large politica1Jy sensitive (for example, oi! and gas) companies in well-developed countries, but results of hypotheses' testing may differ analyzing accounting policy choices of small companies in the middle economy countries. Despite critics positive accounting theory stays mostly grounded accounting research paradigm during last decades.

Positive accounting theory is one of the basic financial accounting theories. This theory seeks to explain and predict accounting practice of the company. positive accounting theory include three mainstreams of empirical research: I) three hypotheses (the bonus plan hypothesis, the financial leverage hypothesis and the size hypothesis) explaining accounting policy choice by the managers are tested; 2) earnings manipuJation (earnings management, income smoothing, 'taking the bath') and creative accounting are anaJyzed; and 3) the reaction of capitaJ market to reported accounting numbers and changes of policy methods are researched. Positive accounting theory is considered as a good economic theory, but it is criticized by some authors. Positive accounting theory do not gives prescriptions for accounting practice, it does not say something about good or bad accounting policy of the company. researchers do not take into account relations between managers and accountants in the companies in their empirical investigations. Hypotheses of positive accounting theory and resuJts of many investigations are based on the accounting policy of large politica1Jy sensitive (for example, oi! and gas) companies in well-developed countries, but results of hypotheses' testing may differ analyzing accounting policy choices of small companies in the middle economy countries. Despite critics positive accounting theory stays mostly grounded accounting research paradigm during last decades.

The topic of regional economic growth was relevant to the various schools of economic theory during the last sixty years. Topics previously interesting only to economists, in the recent years are extensively analysed by social scientists, politics and other social science researchers. This interest in regional economic growth is partly attributable to the recognition that the national economic development depends on the natural factors with a spatial dimension, and the market itself does not guarantee sustainable development. During the last decade regional economic researches were reviving with the interest in the mechanisms supporting knowledge and its embodiment in human capital as a factor of production growth and distribution. Terms such as knowledge-based economy, learning economies, have become classics of regional studies that are increasing in number. Researchers' interest in and development programs on this matter and impact of higher education institutions on the regions were influenced by the change of economic conditions at the regional and international level. Researches have shown that economic development depends not only on capital, but also on the ability to use capital efficiently, and long-term regional growth strategy should be based on human capital accumulation and development. It was understood that economic growth should encourage and give impetus to the regions, rather than permanent shocks from the outside. Institutions responsible for national and regional economic development are interested in developing strategies to encourage the creation of a knowledge economy. [.]

The topic of regional economic growth was relevant to the various schools of economic theory during the last sixty years. Topics previously interesting only to economists, in the recent years are extensively analysed by social scientists, politics and other social science researchers. This interest in regional economic growth is partly attributable to the recognition that the national economic development depends on the natural factors with a spatial dimension, and the market itself does not guarantee sustainable development. During the last decade regional economic researches were reviving with the interest in the mechanisms supporting knowledge and its embodiment in human capital as a factor of production growth and distribution. Terms such as knowledge-based economy, learning economies, have become classics of regional studies that are increasing in number. Researchers' interest in and development programs on this matter and impact of higher education institutions on the regions were influenced by the change of economic conditions at the regional and international level. Researches have shown that economic development depends not only on capital, but also on the ability to use capital efficiently, and long-term regional growth strategy should be based on human capital accumulation and development. It was understood that economic growth should encourage and give impetus to the regions, rather than permanent shocks from the outside. Institutions responsible for national and regional economic development are interested in developing strategies to encourage the creation of a knowledge economy. [.]

In this article theoretical aspects of globalization and economic growth connection are analysed while looking for an answer how globalization affect countries economic growth. Three globalization dimensions – economic, social and political – are being examined. An empirical part of the article reviews the research on the impact of globalization on economic growth. The aim is to summarize the results of research carried out by researchers on how globalization and its dimensions affect economic growth. According to the results of the research, conclusions are made on the link between globalization and economic growth.

In this article theoretical aspects of globalization and economic growth connection are analysed while looking for an answer how globalization affect countries economic growth. Three globalization dimensions – economic, social and political – are being examined. An empirical part of the article reviews the research on the impact of globalization on economic growth. The aim is to summarize the results of research carried out by researchers on how globalization and its dimensions affect economic growth. According to the results of the research, conclusions are made on the link between globalization and economic growth.

The article discusses the principle of consumer sovereignty (considering the satisfaction of consumers' private wants as the ultimate end of economy and most important criterion of economic welfare) which together with the principles of freedom of choice and Pareto optimality constitutes the core of liberal libertarian apology for market economy. As a matter of fact, there are no empirically observable market economies without state regulation of consumption. This regulation includes prohibition to consume some products (e.g., drugs) and services, the restrictions (e.g., alcohol) on and sponsorship for consumption of some other products (e.g., theatre performances). The article discusses whether and under what conditions state regulation of consumption is paternalist and when it is consistent with consumer sovereignty. The consumer welfare (defined by the satisfaction of private (self-regarding) wants) is considered as only a special aspect of total social welfare (including also the satisfaction of non-partial other-regarding (ethical) wants) which is theoretically inconsistent concept because of the unsolved aggregation problems disclosed by famous Arrow theorem. Because of the pluralism of ethical values, visions of good life and good society characteristic for (post)modern Western society, consumer sovereignty is considered as the only viable foundation of economic politics committed to values of tolerance and negative liberty.

The article discusses the principle of consumer sovereignty (considering the satisfaction of consumers' private wants as the ultimate end of economy and most important criterion of economic welfare) which together with the principles of freedom of choice and Pareto optimality constitutes the core of liberal libertarian apology for market economy. As a matter of fact, there are no empirically observable market economies without state regulation of consumption. This regulation includes prohibition to consume some products (e.g., drugs) and services, the restrictions (e.g., alcohol) on and sponsorship for consumption of some other products (e.g., theatre performances). The article discusses whether and under what conditions state regulation of consumption is paternalist and when it is consistent with consumer sovereignty. The consumer welfare (defined by the satisfaction of private (self-regarding) wants) is considered as only a special aspect of total social welfare (including also the satisfaction of non-partial other-regarding (ethical) wants) which is theoretically inconsistent concept because of the unsolved aggregation problems disclosed by famous Arrow theorem. Because of the pluralism of ethical values, visions of good life and good society characteristic for (post)modern Western society, consumer sovereignty is considered as the only viable foundation of economic politics committed to values of tolerance and negative liberty.

The article discusses the principle of consumer sovereignty (considering the satisfaction of consumers' private wants as the ultimate end of economy and most important criterion of economic welfare) which together with the principles of freedom of choice and Pareto optimality constitutes the core of liberal libertarian apology for market economy. As a matter of fact, there are no empirically observable market economies without state regulation of consumption. This regulation includes prohibition to consume some products (e.g., drugs) and services, the restrictions (e.g., alcohol) on and sponsorship for consumption of some other products (e.g., theatre performances). The article discusses whether and under what conditions state regulation of consumption is paternalist and when it is consistent with consumer sovereignty. The consumer welfare (defined by the satisfaction of private (self-regarding) wants) is considered as only a special aspect of total social welfare (including also the satisfaction of non-partial other-regarding (ethical) wants) which is theoretically inconsistent concept because of the unsolved aggregation problems disclosed by famous Arrow theorem. Because of the pluralism of ethical values, visions of good life and good society characteristic for (post)modern Western society, consumer sovereignty is considered as the only viable foundation of economic politics committed to values of tolerance and negative liberty.