Financial determinants related to the budgetary situation of territorial self-government units play the most important role among all the factors affecting the undertaking and conducting of investments by territorial units. Finances are a key element in functioning of territorial self-government units as well as the primary determinant of viability and success of any investment. The objective of this article is to present financial determinants associated with the budgetary situation of territorial self-government units in Poland and their effects on investment execution by these entities. Consequently, investment expenditure, own income, and budgetary result with particular attention to operating surplus have been characterized.
In the European Union (EU), there are four Baltic Sea Region (BSR) states – Estonia, Latvia, Lithuania, and Poland – which are interlinked by the following facts: the common moment of obtaining EU membership, a common historical path from communism to democracy, and being part of the BSR. Although the selected countries share common roots, it seems that, in terms of the economic development, they may follow a different path. Investment development path (IDP), a concept developed by J.H. Dunning, stresses that the development of a country is a result of being an active exporter of capital. This paper aims to evaluate the progress of the four selected economies in terms of their IDP. The analysis takes into consideration their peculiar economic determinants. The methods used include quantitative and qualitative methods. Among the qualitative methods, a literature review briefly presents Dunning's IDP paradigm. The review of existing empirical research highlights the contributions of the paper. The quantitative methods cover the statistical data illustrating the progress of the selected countries in terms of the IDP. The data were obtained from United Nations Conference on Trade and Development (UNCTADStat) and Eurostat. The BSR states under investigation differ in terms of their economic growth. However, they share a common denominator of maintaining the role of importer of capital. The highest dynamics of the growth of the outward stock of Foreign Direct Investment (FDI) was observed in Poland and Lithuania. It is Poland and Estonia, however, that seemingly will climb on the ladder of IDP faster than Latvia and Lithuania. In all cases, these countries deal with higher dynamics of annual growth of Outward Foreign Direct Investment (OFDI) than Inward Foreign Direct Investment (IFDI), which suggests that all are at the third stage of IDI. However complex analysis reveals differences that shed new light on the progress of development paths of these BSR states.
TTIP - the Transatlantic Trade and Investment Partnership is an agreement that carries a number of risks for the economy, the natural environment, consumer rights, labour rights and access to public services in the European Union. The mechanisms included in the agreement, concerning the settlement of disputes between states and foreign investors, pose a number of threats to democracy as well. The benefits that are supposed to result from the implementation of the agreement will primarily be reaped by large corporations involved in the transatlantic trade. Mostly the citizens and societies of the EU member states will be under threat from the agreement. The principle of mutual recognition of regulations, which is expected to be practically universally used in accordance with the agreement, will mean in practice lowering safeguards protecting the rights of citizens, workers and consumers in the European Union. The liberalization of trade within the TTIP will be a factor forcing increased competition also in relation to the Polish small and medium-sized enterprises, and as a result, putting also pressure to reduce wages and other costs, including those related to the need of complying with the norms or standards. Thus, there are far more threats than benefits of the agreement.
Celem artykułu jest porównanie percepcji zachęty podatkowej w postaci zwolnienia podatkowego u polskich i zagranicznych inwestorów na tle innych narzędzi wspierania przedsiębiorstw w SSE oraz w kraju. Analizę oparto na wynikach badania ankietowego przeprowadzonego w ramach projektu badawczego pt. "Ocena efektywności pomocy publicznej w Specjalnych Strefach Ekonomicznych w Polsce" wśród przedsiębiorców funkcjonujących na terenie SSE. ; The aim of the article is to compare perception of state aid gained in the SEZ in Poland in the view of domestic and foreign investors against others forms of public support to entrepreneurs in Poland. The analysis is based on the results of research project entitled "The assessment of state aid effectiveness in SEZ in Poland" among entrepreneurs located in SEZ. The conducted research has led to the conclusion that domestic entrepreneurs and entities with foreign capital have similar hierarchy of aid instruments offered in SEZ. Among all of the available support instruments in SEZs tax exemption was ranked as the most attractive one.
The aim of the article is to compare perception of state aid gained in the SEZ in Poland in the view of domestic and foreign investors against others forms of public support to entrepreneurs in Poland. The analysis is based on the results of research project entitled "The assessment of state aid effectiveness in SEZ in Poland" among entrepreneurs located in SEZ. The conducted research has led to the conclusion that domestic entrepreneurs and entities with foreign capital have similar hierarchy of aid instruments offered in SEZ. Among all of the available support instruments in SEZs tax exemption was ranked as the most attractive one. ; Celem artykułu jest porównanie percepcji zachęty podatkowej w postaci zwolnienia podatkowego u polskich i zagranicznych inwestorów na tle innych narzędzi wspierania przedsiębiorstw w SSE oraz w kraju. Analizę oparto na wynikach badania ankietowego przeprowadzonego w ramach projektu badawczego pt. "Ocena efektywności pomocy publicznej w Specjalnych Strefach Ekonomicznych w Polsce" wśród przedsiębiorców funkcjonujących na terenie SSE.
The aim of this article is to examine the impact of the actions of Chinese capital on limiting the influence of the Russian Federation in Kazakhstan. The preliminary analysis allowed for the formulation of the research question: Does Kazakhstan still take political considerations into account when choosing between Russian and Chinese capital? It was possible to answer this question due to the analysis of the main investments implemented by the Pekin and Mosocow in terms of their compliance with the Kazakhstan2050 development plan, initiated by President Nursultan Nazarbayev in 2012. The main research methods used in the article included: the analysis of literature on the subject, comparison, inference and induction. Finding the relationship between the development plan and investments made it possible to formulate a research hypothesis that the evaluation was reversed in the Kazakh development strategy. The primary objective when choosing a strategic partner became the economic calculation and its benefits. Political considerations came only in second place.
Despite the progressing outer convergence of Poland, it can be stated that, with the exception of a few big cities and few areas attractive in terms of tourism and agriculture, all Polish voivodships are threatened by the peripheralization in the integrating Europe. Furthermore, the restructurization processes of industry and agriculture together with a slow privatization of these branches of economy, despite visible positive results, brought about threats of unemployment, a low investment ability, little competitiveness of enterprises or ineffectiveness of the institutional system. What is more, the above-mentioned dangers occur to different degrees in different regions. Therefore, a low socio-economic cohesion is itself an obstacle to the enlargement of the cohesion at the European level. This paper tries to present the current level of socio-economic development of Polish voivodships, especially Kujawsko-Pomorskie, within the context of cohesion policy of the European Union.
Publikacja recenzowana / Peer-reviewed publication ; The aim of the paper is to present signifi cance of Germany in Polish trade in goods and services as well as investment cooperation during the Poland's membership in the European Union. The role of Germany was compared to other EU-15 countries. The research was carried out using both the traditional foreign trade statistics (in gross terms) downloaded from WITS-Comtrade database and trade statistics in value added terms calculated based on World Input-Output Database (WIOD). The foreign direct investment data came from the National Bank of Poland. The research results show that since 1990s Germany has been the main trade and investment partner of Poland. It's accession to the European Union has accelerated the Polish-German economic cooperation. One of the most important factors infl uencing this cooperation was participation of Poland and Germany in global value chains.
Since 2005 an increased investment activity of territorial governments in Poland has been noticed. This was possible due to the availability of quite significant funds from the EU non--repayable aid. Investments that are being implemented have led, on the one hand, to the widening of the scope and the improvement of quality of local public services and, on the other hand, to the rise in the maintaining costs of the infrastructure that was brought to life. Investment needs of self--governments are still really high. This article aims to present financial investment opportunities of Polish self governments after the year 2012. Achieving such an aim was possible due to the analysis of historical data concerning revenues and expenses of LSE as well as their forecasts for the future. Study of theliterature was also carried out. Taking into consideration both the revenue and expenditure situation of self-governments and limitations in the indebtedness from 2014, it is possible to state that it is highly likely thata significant number of LSE will not be able to carry out investment activity, including this one, which can be financed from the EU non-repayable aid. Decreasing tax revenues together withincreasing running expenses caused by, among others, increase in the cost of debt service or salaries, will result in the higher difficulty for the self-governments to set investment funds aside.As the forecasted revenues and expenditures of LSE show, keeping the system of financing with no changes will lead to such a situation that LSE neither will be able to carry out investment activity nor pass the budget for the future years. According to the estimates, the number of suchLSEs can equal to 1300. Such a lingering situation in the long run will lead to the deepening of the infrastructural gap between Polish self-governments and better developed European countries.
