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EN
Rapidly expanding literature on the new strand in the new trade theo- ry and empirical research in this area indicate factors which can posi- tively influence export participation of firms. The analysis presented in this study concentrates on verifying which barriers met by the European firms are significant constraints to their exports with an aim of ascertaining if problems identified at the microeconomic level may have their roots in macroeconomic situation. Estimation results indicate that the probability of exporting depends on a combination of a wide set of firms’ characteristics. Country-level macroeconomic and institutional conditions are responsible for a considerable part of country specific determinants of firms’ export and significantly influence participation in the international trade. The level of economic development, economic freedom and financial market regulations are important determinants of export decisions. The constraints perceived by the European entrepreneurs have rather limited direct impact on a probability of being exporter, however they influence negatively firms’ main competitiveness factor − TFP. Moreover, the analysis suggests that government policy going beyond creating friendly business environment and supporting the development of financial institutions is not effective. Any kind of public support, even directed to particular firms, does not increase their international competitiveness.
EN
The author endeavors to establish if Poland’s small and medium-sized enterprises (SMEs) are undergoing internationalization in line with the rules described in the theory of gradual internationalization. This theory is generally used to explain the behaviors of companies on foreign markets. The author carries out a quantitative analysis on a sample of more than 100 exporting manufacturing enterprises based in Poland’s Małopolska province. The study shows that the behavior of most surveyed companies accords with the rules followed in other countries and the guidelines of the gradual internationalization theory. In particular, as their experience grows, companies are entering new markets and increasing the share of exports in their total revenue. Morawczyński’s study shows that companies are entering foreign markets at an increasingly faster rate. This conclusion is compatible with the latest findings in other countries. Beginning exporters usually choose countries that are considered to be close “psychologically,” the author says. Unexpectedly, Morawczyński finds a weaker-than-expected link between the level of internationalization and the system of knowledge associated with operations abroad. The surveyed companies break away from the pattern mapped out by the gradual internationalization theory. This is largely due to a global business concept increasingly popular in recent years whereby companies are encouraged to pursue global operations from inception onward.
EN
The paper aims to identify the effects of internationalization on firms’ financial performance. Numerous empirical investigations have attempted to study the relationship between internationalization and firm performance, producing both monotonic and curvilinear findings. The paper uses a sample of Polish businesses from the 2005-2006 period based on an annual league table of Poland’s 500 largest companies ranked by Rzeczpospolita daily newspaper. The dependent variable, firm performance, was measured using the return on assets. The key independent variable, the degree of internationalization, was measured by the ratio of foreign sales (exports) to total sales. The authors controlled for firm size, which was measured by the natural logarithm of total employment. The econometric analysis of a cross-sectional data set of multinational firms yielded results that point to a non-monotonic relationship between the degree of internationalization and firm performance, Doryń and Stachera say. The study shows that there is a standard U-shaped curvilinear relationship between international diversification and firm performance. Polish firms initially suffer a decline in profits as they expand internationally, but over time, through gaining experience and through organizational learning, they begin to derive benefits from their international expansion and their performance improves.
EN
This paper examines the effect of Exchange Rate Volatility (ERV) on the aggregate exports of Ukraine during the period of 1990 to 2013 using quarterly data. In the literature, it is found that exchange rate volatility causes a reduction in the overall level of trade. The paper tests this finding for Ukrainian foreign trade in the aforementioned period using the Autoregressive Distributed Lags (ARDL) method to co-integration. Overall, our findings suggest that there is a negative effect of ERV on Ukrainian exports. From a policy prospective, this result is important because it suggests that policy makers should consider the negative effect of ERV on exports when exercising exchange rate policy for balance of payment purposes.
EN
The aims of this paper are to estimate the revealed comparative advantage of the largest world exporters – the USA, Germany and China – in the years 2000-2014 and compare the comparative advantage index with the structure of their exports. The classical RCA and the modified RCADVA index (based on value added) were used for estimating revealed comparative advantage in foreign trade. The analysis shows that the USA had comparative advantage in the trade of agricultural products and services. Germany and China had comparative advantage in the trade of manufactured products. It was ascertained that the correlation between the share of a given good or service in total exports of the countries under study and the RCADVA index was positive. The structure of Chinese exports was the most consistent with the comparative advantage index, whereas the structure of US exports was the least consistent with this index.
EN
The study objective was to examine the role of marketing strategies on export performance of fresh produce fi rms in Kenya. A major stream of research has considered marketing strategy and performance within the context of a domestic economy. A census survey was carried out among all the 100 fresh produce fi rms that were ordinary members of the Fresh Produce Export Association of Kenya (FPEAK) as at 31st June 2019. The study utilized a positivist approach. Primary data were collected using a structured questionnaire. A descriptive cross-sectional study design was adopted. The results of regression analysis revealed that the relationship between marketing strategies and export performance was positive and statistically signifi cant. To policy makers, the study recommends regional and bilateral trade agreements that seek to increase the market share for fresh produce fi rms. To management practice, the study provides guidelines on how to design and implement sustainable but competitive marketing strategies for the export market. For future research direction, the study recommends additional moderating/mediating variables that may infl uence export performance.
EN
Fiscal austerity in Germany used to be blamed for a stagnant growth in the European countries. However, it seems not to be the case for the Central and Eastern European (CEE) countries. As it is established on the basis of vector error-correction model (VECM) estimates for quarterly series over the 2002-2015 period, a positive non-Keynesian spillover from the fiscal austerity in Germany to output in the CEE countries is realized mainly through an increase in investments, with the export channel being rather ambiguous across countries. Following an improvement in the German budget balance, there is a decrease in exports measured as percent of GDP in 6 out of 10 CEE countries. Depreciation of the real exchange rate (RER) is found for countries with exchange rate flexibility, while the opposite effect of RER appreciation is observed in countries with a fixed exchange rate arrangement. It is possible to argue that spillover effects of German austerity on the CEE countries are dominated by capital flows or confidence measures while foreign demand or relative price channels are rather weak.
Organizacija
|
2014
|
vol. 47
|
issue 2
107-115
EN
Background: The accession of Poland to the European Union in 2004 facilitated increased exports of food products. It revealed a significant competitive advantage of Polish foreign trade in agri-food products compared to the countries of the ≫old EU≪. After nearly 10 years of Polish membership in the EU, the food sector has still a considerable potential, fostering a further increase in exports. Objectives: The purpose of the paper was an attempt to establish the current determinants for the possibility to increase the exports of the Polish food sector and to identify potential opportunities and potential threats in the future. It was also decided to give an answer to the question whether any of the group factors has a greater impact on the development of exports than the other, and which issues play only a minor role in the development of international exchange. Method: The analysis used involved the review of the relevant literature and forming a group of experts to specify the key factors of success in the food sector export. Basing on the experts research the STEEPVL analysis was carried out. Results: It turned out that apart from a number of organizational, financial and marketing factors the most important are: the level of the IT infrastructure and the fluctuation of the demand on the international markets for the goods offered by the sector. Conclusion: Therefore, the focus on the new distribution channels, integrated company management IT systems and changes in the demand on the market is the key challenge for securing the current potential and for the further development of the sector.
EN
After 2000, unprecedented rises in commodity prices were recorded. Despite sharp declines in the second half of 2008, from the beginning of 2001 to mid-2011 prices of primary commodities more than tripled in value against the USD. The aim of the paper is to analyse the effects of commodity price changes after 2000 on the value of Africa’s exports and economic growth of commodityexporting African countries. Section 1 analyses the significance of primary commodities in African countries. Section 2 presents commodity price developments after 2000. Section 3 analyses relations between commodity price changes and changes in the value of Africa’s exports and economic growth of commodity-exporting African countries. The author uses mainly descriptive statistics as a method of analysis. The results of the analyses suggest that there is a strong shortterm relationship between commodity price changes and the value of Africa’s exports as well as between changes in commodity prices and changes in GDP in commodity-exporting African countries.
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EXPORT DEVELOPMENT OF BELARUS

88%
EN
The paper contains a deep analysis of exports of Belarus and defines the proposals for its development. Economic comparisons and systematisation, which is based on the official statistical data for 2012–2018, are used in the study. It is concluded that Belarus exports have a poor diversification; export development is largely determined by Eurasian Economic Union (EAEU) integrating processes; export support of innovative goods and evolution of a single service market through the enhanced cooperation are possible. A generalised model for the export development of innovative goods and services of the EAEU member states on a cooperative basis is proposed.
PL
Artykuł przedstawia wyniki analizy wpływu kursu walutowego na eksport towarów z Polski do Niemiec w latach 1995–2013. Analiza została wykonana na danych kwartalnych za pomocą modelu wektorowej autoregresji (VAR). Model ten pozwala z większą dokładnością oszacować siłę oddziaływania kursu walutowego na tle innych zmiennych wpływających na eksport (w tym badaniu poza kursem walutowym uwzględniono także wpływ zmian realnego PKB Polski i Niemiec oraz napływu bezpośrednich inwestycji zagranicznych do Polski). Otrzymane wyniki wskazują, że oddziaływanie zmian kursu walutowego na polski eksport do Niemiec jest znaczące, ale jego siła zależy od uwzględnianej w badaniu perspektywy czasowej i długości opóźnień reakcji.
EN
The article presents the results of the analysis of the impact of the exchange rate on the volume of Polish commodity exports to Germany in the period 1995–2013. The analysis has been made on quarterly data with a VAR model. The regression equation explaining the dynamics of the export volume included, apart from the exchange rate of the Polish currency, the change in real GDP of Poland and Germany and the inflow of FDI as explanatory variables. The results indicate that the influence of changes in the exchange rate on the volume of Polish commodity exports to Germany is significant, but the strength of this impact depends on the period considered and time lags assumed in regression equations.
RU
В статье представлены результаты анализа влияния валютного курса на экспорт товаров из Польши в Германию в 1995–2013 гг. Анализ был выполнен на квартальных данных с помощью модели векторной авторегрессии (VAR). Эта модель позволяет с большей точностью оценить силу воздействия валютного курса на фоне других переменных, влияющих на экспорт (в этом исследовании, кроме валютного курса, учтено также вли- яние изменений реального ВВП Польши и Германии и приток прямых иностранных инвестиций в Польшу). Полученные результаты показывают, что воздействие изменений валютного курса на польский экспорт в Германию является значительным, но его сила зависит от учтенной в исследовании временной перспективы и продолжительности за- держки реакции.
EN
The goal of this article is to present the structure of trade between Polish regions (voivodships) and the European Union. The research is a dynamic analysis making it possible to compare the time before and after the expansion of the European Union. The timeframe of the discussed issues relates to 1999-2007. Attention is paid to the scale and diversified nature of the changes to the goods structure of export and import activities undertaken by Polish voivodships to (from) the European Union. The analysis is preceded by the characteristics of the European Union's role in trade of specific regions. Finally, the degree of intra-industry specialization is evaluated as is the trend in changes to the trade between Polish regions and European Union countries.
EN
Research background: The Brexit referendum had a profound effect on the economic relations between the United Kingdom (UK) and continental Europe. Major economic and financial determinants were affected, including the impact of the GBP/EUR exchange rate volatility on the dynamics of UK exports to the Eurozone. Purpose of the article: This paper seeks to assess the extent to which these dynamics have changed since Brexit and to estimate the magnitude of their impact. Methods: To this end, the volatility behavior of the GBP/EUR exchange rate before and after Brexit is captured using EWMA, GARCH(p,q), and EGARCH(p,q) models for the period of January 1, 2010 to August 31, 2020. The post-Brexit change in the volatility structure of GBP/EUR exchange rates is then tested by including a dummy in the optimal volatility model. Finally, the Autoregressive Distributed Lag (ARDL) Bounds Testing approach is employed to analyze the relationships between exchange rate volatility and exports. Findings & value added: GARCH(1,1) was selected as the winning model and used to examine the volatility structure of the post-Brexit exchange rate, which revealed no significant change. By incorporating a well-grounded proxy for exchange rate volatility into the demand function of exports, and controlling for the industrial production index, terms of trade, and real exchange rate, the analysis showed that exchange rate volatility had a negative impact on export volume to the Eurozone in both the long and short run. Additionally, the industrial production index had a positive effect on export volume in both the long and short run, while an appreciation in the value of the pound relative to the euro adversely affected the competitiveness of UK exports in the Eurozone market in the long run, with no impact in the short run. This paper serves as a benchmark for future studies, as it follows a three-step modeling approach and provides valuable insights into the potential economic and financial consequences a European Union (EU) member state may face should it choose to exit the EU.
EN
The goal of this paper is to present the results of the empirical analysis of the role of emerging Asian economies in the global market for business services. The focus is on India, as the leader in advanced business services in the region. The method applied in this paper is the quantitative analysis of data related to trade and foreign direct investment in services. The novelty of the paper lays in focusing on business services through their international exchange and activities of multinational corporations. This papers aims to focus on broader economic perspective rather than usual offshoring. The main conclusion of the paper is the rising role of services in economies that were previously focused on manufacturing and merchandise trade. Both due to the structural changes in foreign markets and home governments’ policies the process of tertiarisation is taking place. Special focus is on advanced business services which require and create vast amount of knowledge.
EN
The aim of this study is to realize an analysis of the trade relations between Albania and Greece. Through the study, researchers want to show how trade relations between these countries have changed during the years, and also want to reveal some of the things that dominate these relations. Part of the study will also be the analysis that will help understand the relationship between the trade flows and the Greek GDP. Also, it will be possible to see if these trade flows have experienced any shock during the period taken into consideration. The analysis will be realized by using an econo-metric linear model, and to discover if there has been any shock, the Error Correcting Model will be used. The study proved that Greece is one of the main trade partners of Albania. The volume of the trade flows with Greece represents an important part of the overall trade flows of Albania. Based on the dates analyzed the study revealed that imports composition has changed more in comparison with the exports. The study also revealed that there has been a shock in the trade flows during the period taken into consideration.
PL
Udział wyrobów wysokiej techniki w polskim eksporcie dóbr prze-tworzonych jest nadal względnie niski, mimo że w ostatnich latach wy-raźnie i szybko rósł. Według danych Eurostatu, w 2014 r. udział ten wy-niósł 8% (podczas gdy średnio w Unii Europejskiej kształtował się na poziomie 15%). Znaczenie wyrobów high-tech w Polsce jest wyraźnie mniejsze nie tylko w porównaniu z krajami Europy Zachodniej (UE-15), ale także w porównaniu z wieloma gospodarkami wschodzącymi, w tym z Czechami i Węgrami. W latach 2007-2014 dynamika eksportu wyro-bów wysokiej techniki była w Polsce najwyższa spośród krajów UE, a wartość tego eksportu wzrosła przeszło czterokrotnie. Obserwowany w tym okresie wzrost udziału wyrobów wysokiej techniki związany był z drugim etapem inwestycji w tego typu branżach w krajach Europy Środkowej, przy czym – jak wskazują dane dotyczące wartości dodanej w handlu zagranicznym – duże znaczenie w tym procesie odegrali inwe-storzy z gospodarek wschodzących. Na niski udział wyrobów wysokiej techniki w polskim eksporcie skła-dają się dwa główne czynniki – marginalne znaczenie produkcji high-tech w krajowych przedsiębiorstwach oraz niewielki udział firm zagra-nicznych z sektora wysokiej techniki w napływie bezpośrednich inwesty-cji zagranicznych. Podczas gdy w większości krajów Europy Zachodniej o udziale wyrobów high-tech w eksporcie decyduje w dużej mierze po-ziom wydatków na badania i rozwój, to w krajach Europy Środkowej (i ogólnie w gospodarkach wschodzących) udział wyrobów wysokiej techniki w eksporcie związany jest silnie z bezpośrednimi inwestycjami zagranicznymi.
EN
The share of high technology products in Polish exports of processed goods remains relatively low despite a marked increase in recent years. According to Eurostat data, in 2014 this share accounted for 8% (while the EU average – 15%). The importance of high-tech products in Poland is not only significantly lower than in Western Europe, but also lower than in many emerging economies, including the Czech Republic and Hungary. In the years 2007-2014, the growth of exports of high technol-ogy products in Poland was the highest among the EU countries, and the value of these exports increased more than fourfold. The growing share of high technology products, observed at that time, can be tied with the second stage of the investment in the high-tech sector in Central Europe. The data on the value added in foreign trade show that investors from emerging economies played in this process an important role. The low share of high technology products in Polish exports may be attributed to two main factors: a negligible share of high-tech products in the production of domestic enterprises and a low participation of foreign high-tech companies in the inward foreign direct investment. While in most Western European countries the share of high-tech products in ex-ports is to a large extent determined by the level of R&D expenditures, in Central Europe (and generally in emerging economies) it is strongly linked to foreign direct investment.
PL
Wyraźne zmiany w geografii światowej gospodarki, jakie dokonały się w pierwszej dekadzie XXI wieku pod wpływem wzrostu znaczenia krajów BRIC, w niewielkim tylko stopniu znalazły odzwierciedlenie w eksporcie krajów Europy Środkowej i Wschodniej (EŚW). Największe gospodarki rozwijające się, prócz Rosji, wciąż praktycznie pozostają raczej egzotycznymi rynkami dla eksporterów z regionu EŚW. Udział Chin, Indii i Brazylii w eksporcie EŚW w 2011 r. wyniósł zaledwie 1,8%. Analiza zmian struktury geograficznej eksportu krajów EŚW w ostatnich latach wskazuje, że głównym celem przenoszenia produkcji do EŚW przez firmy z Europy Zachodniej było zwiększanie eksportu (dzięki poprawie konkurencyjności cenowej) na najbliższe geograficznie rynki, przede wszystkim UE-15 oraz Rosji i innych krajów b. ZSRR. Innymi słowy, kraje te stanowiły platformę eksportową dla korporacji międzynarodowych. Taka struktura geograficzna eksportu wynika, z faktu iż większość filii przedsiębiorstw zagranicznych w krajach EŚW specjalizuje się w produkcji i eksporcie wyrobów o stosunkowo mało zindywidualizowanych cechach, przeznaczonych na niższe segmenty rynku, podczas gdy produkcja towarów charakteryzujących się wyższą jakością (i jednocześnie ceną), pozostawiana jest najczęściej w krajach macierzystych.
EN
Pronounced changes in the geography of the world economy that have occurred during the first decade of the twenty-first century, under the influence of the spectacular rise of the BRIC countries, were only slightly reflected in the exports of Central and Eastern Europe (CEE) countries. The largest developing economies, except Russia, still virtually remain rather exotic markets for exporters from the CEE region. These countries represent only a narrow margin in the CEE exports. In 2011, the share of China, India and Brazil in exports of countries in the region accounted for only 1.8%. An analysis of changes in the geographical structure of the CEE's exports that have taken place in recent years indicates that the main purpose of shifting production from Western Europe to the CEE companies was to increase exports (by raising the price competitiveness) to the closest geographically markets, especially to the EU-15 and Russia, and other countries of the former Soviet Union. This geographical pattern of exports results from the fact that most affiliates of foreign companies in CEEs specialise in the manufacture and exports of products with relatively few features, targeted for the lower segments of the market, while the production of goods of higher quality (and also price) has mostly remained in their home countries.
EN
The history of economic relations between Italy and Albania is a typical example of asymmetric relationship between two countries with geographic proximity but with very different dimensions. The importance of this bond is essential for Albania, as Italy is our greatest economic and trade partner, but also from the Italian perspective these relationships have a greater weight than we might expect given the size of the Albanian economy, due to geographical proximity and preferential relations between the two countries. The relations with Albania are included in the broader context of the Italian policy in the entire Balkan region as these countries transition towards free market economic system is of great importance for the European integration processes. Since 2000, the economic cooperation has grown, but its features (trade balance deficit, restricted investment areas, à façon industries, etc.) still persist. This paper intends to highlight the strengths and drawbacks of Italian – Albanian economic relations in its early stages from 1990 to 2000.
EN
The paper aims to empirically analyze the determinants of regional variations in employment growth in Poland during the period of 1999-2008. The authors expand the typical set of variables used to explain regional changes in employment – which include the wage and value added growth rates – to include export momentum as an indicator of a region’s competitiveness and as a variable that is likely to significantly influence the employment growth rate. As a research method, the authors estimate panel cross-section models of regional diversity in annual employment growth rates in Poland. The main results of the analysis are that regional employment growth is accompanied by (i) an increased volume of exports, (ii) a high level of education among workers, and (iii) entrepreneurship measured by the rate at which new businesses are established. The results indicate that a regional economic policy designed to promote the development of exports and entrepreneurship could significantly contribute to an increase in employment, the authors say.
PL
Celem artykułu jest empiryczna analiza determinant regionalnego zróżnicowania dynamiki liczby pracujących w Polsce w latach 1999-2008. Obok zmiennych, które najczęściej są wykorzystywane w badaniach objaśniających tempo zmian liczby pracujących, czyli dynamiki wynagrodzeń i wartości dodanej brutto, w niniejszym artykule rozszerzono ten „typowy” zestaw zmiennych o dynamikę eksportu, traktując ją jako wskaźnik odzwierciedlający konkurencyjność gospodarek poszczególnych województw i mającą potencjalnie pozytywny wpływ na dynamikę tworzenia nowych miejsc pracy. Jako metodę badawczą wykorzystano oszacowania szeregu modeli panelowych objaśniających regionalne zróżnicowanie rocznych dynamik liczby pracujących. Wyniki badania wskazują, że wzrostowi liczby pracujących w poszczególnych województwach towarzyszą: a) wzrost wolumenu eksportu, b) wysoki poziomu wykształcenia osób aktywnych zawodowo oraz c) przedsiębiorczość mierzona dynamiką tworzenia nowych firm. Otrzymane wyniki sugerują, że polityka gospodarcza na poziomie województw promująca rozwój powyższych cech strukturalnych może istotnie przyczynić się do wzrostu liczby pracujących.
EN
In this paper we identify the determinants of export diversification from the perspective of the Ricardian model with many goods. According to this approach, the export diversification of a country can be regarded as an outcome of two effects: a relative productivity change due to technological progress and a relative country size change due to labor force growth compared with the rest of the world. For example, in a country characterized by improved productivity and an increased share of the world stock of labor, diversification should grow, while in the case of a decreased share and improved productivity abroad, it should fall. From the theoretical perspective it is also possible that these two effects neutralize each other and diversification may remain unchanged.
PL
W artykule zidentyfikowano determinanty przedmiotowej dywersyfikacji eksportu z perspektywy modelu ricardiańskiego z wieloma dobrami. W ujęciu tym zmiany w dywersyfikacji eksportu kraju można przedstawić jako wypadkową siły oddziaływania dwóch efektów: zmiany relatywnej produktywności związanej z postępem technologicznym oraz zmiany relatywnej wielkości kraju związanej z tempem przyrostu zasobu siły roboczej w stosunku do zagranicy. Na przykład w kraju charakteryzującym się zarówno poprawą produktywności w stosunku do zagranicy, jak i wzrostem jego udziału w światowym zasobie pracy, dywersyfikacja eksportu powinna rosnąć, natomiast w przypadku spadku tego udziału oraz wzrostu produktywności za granicą - dywersyfikacja powinna spadać. Z punktu widzenia tej teorii możliwa jest również hipotetyczna sytuacja, w której obydwa te efekty przeciwdziałają sobie nawzajem w taki sposób, że dywersyfikacja eksportu może nie ulegać zmianie.
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