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1

INOVAČNÉ PROCESY Z POHĽADU TEÓRIE ENDOGÉNNEHO RASTU

100%
Dujava D.
Ekonomický časopis (Journal of Economics)
|
2013
|
vol. 61
|
issue 6
618 – 633
EN
We summarize main effects which lead to the innovation rate in real economy being different from social optimum. From the viewpoint of theory of economic growth, it is possible that market subjects innovate less but also more than socially optimal. Intensity of competition is one of the most important determinants of innovation rate. We list main policy instruments which can influence rate of innovation.
2

DO REMITTANCES MATTER FOR ECONOMIC GROWTH?

63%
Dujava D., Kálovec M.
Ekonomický časopis (Journal of Economics)
|
2020
|
vol. 68
|
issue 9
869 – 894
EN
Remittances represent one of the most important money flows into the developing world comparable to, and often exceeding, earnings from exports of goods and services and foreign direct investments. Even though importance of remittances in poverty reduction has been documented, impact of remittances on economic growth remains under-investigated mainly due to a strong endogeneity of remittances with respect to both level and growth rates of GDP. We provide detailed look into this endogenous relationship and discuss possible instruments which can help to remedy this problem in IV-estimation. In order to establish a link between economic growth and remittances we use range of instrumental variables encompassing geographical, microeconomic-based and internal instruments. By interacting remittances with other determinants of economic growth we provide evidence that remittances are especially important source of growth in poor countries not because of low level of development per se, but because the effect of remittances on growth is stronger providing level of human capital and savings rate are low and financial markets are underdeveloped.
3

REÁLNY EKONOMICKÝ CYKLUS V PODMIENKACH NEDOKONALÉHO FUNGOVANIA TRHU KAPITÁLU

63%
Dujava D., Lisý J.
Ekonomický časopis (Journal of Economics)
|
2010
|
vol. 58
|
issue 10
1006 – 1025
EN
In this paper the authors deal with a question of how imperfect flexibility of interest rate and prices of capital goods on market of capital influences welfare if an economy is submitted to technology shocks. By the use of the basic real-business-cycle model they explain how positive technology shocks may lower welfare. The authors identify factors influencing the need of flexible interest rate and flexible prices of capital goods. Their model predicts significant influence of elasticity of substitution of factors of production, of persistency and of intensity of technology shocks on welfare under the conditions of imperfect working capital market. Efficient capital market becomes more important with a slower rate of operation of diminishing marginal product of capital, lower persistency and higher intensity of technology shocks.
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