Browsing by Subject "EU"

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Access status: Open Access ,
Changes in the quality of bank loan portfolios in EU countries - with the particular case of Poland
(Wydawnictwa AGH, 2022) Kosztowniak, Aneta
As non-performing loans (NPLs) can cause monetary crises that may turn into financial crises affecting an entire economy, monitoring them is very important. If NPLs are not identified and recognized efficiently, both in terms of speed and scope, NPL resolution effectiveness is undermined, which in turn will have negative effects on the banking sector and ultimately on GDP growth. The main aim of this article is to identify changes in the quality of bank loan portfolios in European Union (EU) countries in 2009-2021, using an example of the Visegrad Group (Czech Republic, Poland, Slovakia, Hungary) as well as France and Germany. Keeping in mind the fact that the share of loans to households in EU portfolios is approximately 60%, it has a significant impact on the share of non-performing loans (NPL) in a bank's entire portfolio. Therefore, it is important to identify macroeconomic determinants influencing the creditworthiness of house-holds and their loan servicing capacity. The specific aims are, first, to present the differences in NPLs, debt servicing costs, and the structure of loan portfolios in the selected EU countries. Second, to identify countries with high-quality portfolios and those undertaking restructuring. Thirdly, to examine the determinants of NPL for household loans based on the example of Poland, i.e., a country considered representative in terms of the average level of NPL and the portfolio structure in the group of countries studied. This chapter presents the changes of NPLs, debt service ratio, and household loans in selected EU countries in 2009-2021. Moreover, an NPLs econometric model for Poland is constructed, which considers the main factors determining the creditworthiness of households, i.e., macroeconomic factors, financial standing, and debt servicing costs. Tools such as the VECM model, the variance decomposition and the impulse response functions are used. The results for Poland confirm that the NPLs ratio for households was the strongest explanation of previous changes in own NPL, consumption and real wages in the household sector in 2009-2021.
Access status: Open Access ,
Clean and climate neutral planet and mineral resources in the EU
(Wydawnictwa AGH, 2020) Karaś, Henryk
The directions of EU activities in the field of mineral resources and their extraction, which are important for the development of the economy, are presented herein. The breakthrough in the EU came in 2008 with the announcement of the new Raw Materials Policy (RMP) and its presentation in Brussels in 2007. The long-term negligence of the EU authorities in terms of the lack of investment in research and development in the extractive industry in successive innovation programs implemented by the EU has been noticed. Changes in the global market at the end of the 20th century made the EU economy highly dependent from the import of many raw materials [1, 2]. The RMP plan adopted for implementation included 10 activities covering the EU bodies, member states and the mining industry. In the following years (2011-2012), a program aimed at strengthening the raw materials policy, called EIP on RM - innovative partnership on raw materials, appeared. It also resulted in an increase in expenditure on activities in the area of circular economy. The new innovation program Horizon Europe planned for 2021-2027 also provided for the important role of raw materials in the field of clean energy development and the implementation of the principles of the «green deal» , which is expected to reduce climate change plan in the EU by 2050 [3]. It is assumed that the principles of the EU's «green deal» are to be a model for other countries / continents of the world to follow.
Access status: Open Access ,
From unemployment to running one's own business: the ideational embeddedness of entrepreneurship in Polish and EU public policy
(Wydawnictwa AGH, 2013) Dudek, Michał
Nowadays the entrepreneurship phenomenon is of great importance. Small business is considered a critical factor of economic progress, innovation, and employment growth. Its economic significance implies both a certain policy shape and specific social practice. The process of setting up. maintaining and developing firms has become a subject of common approval and growing legitimization as well as of intensive governmental support in various forms. In public debate and public policy, the idea of deregulation, relating to actions limiting the administrative barriers for entrepreneurs, is justified based on neoclassical economic theory. However, both in the public debate and public policy, providing entrepreneurs with subsidies and other kind of support is based on the interventionism doctrine. Therefore, an ideational entrepreneurship system is created at the public authority level which seeks to explain and justify a certain shape of support policy for entrepreneurs. The paper argues that entrepreneurship could be perceived as an ideational embedded economic action. In order to illustrate the ideational embeddedness of entrepreneurship, EU and Polish public policy discourse form 2000-2010 was analysed. The objects of qualitative discourse analysis were, among others, governmental documents, strategies. and public statements.