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The aim of this paper is to describe recent economic growth forecasts of the Finnish biotechnology industry and provide analysis of the international and industry-specific factors behind these forecasts. The new economic geography of the European regions suggests that spatial agglomeration of economic activities will be strengthened internationally if European integration deepens. In addition to that, the Finnish pharmaceutical industry has enjoyed high regulatory protection and it has achieved similar price mark-ups during the l970s- l990s to its counterpart in the USA. According to the analysis of small and medium-sized Finnish biotechnology companies, it seems that the most promising biotechnology companies have a well-balanced combination of intellectual capital. Despite expectations of rapid growth, it will take decades rather than years for the biotechnology industry to catch up with the three industrial pillars, the forestry, machinery and electronics industries. To fulfil the expectations, there is a need to build collaboration and financing networks between the biotechnology industry and traditional industries, such as forestry, electronics and pharmaceuticals. Most of the current Finnish biotechnology companies are related to healthcare activities. The Finnish biotechnology industry could offer solutions to the cost crisis in healthcare while at the same time spurring development of an internationally competitive industrial cluster. [ABSTRACT FROM AUTHOR]

Copyright of Sociologija/Sociology: Journal of Sociology, Social Psychology & Social Anthropology is the property of MOD International and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Regeneration of brownfields gradually becomes an important challenge for regional and local development across the East-Central European countries. Due to the recent huge economic transition and global societal changes thousands of abandoned sites (brownfields) sprang up across the landscape after various economic activities, the Czech Republic included. This paper evaluates the perception of brownfields along with their individual reuse options by local population in one of the city districts of Ostrava which was heavily influenced by industrialisation during the last 150 years (Svinov city district, city of Ostrava, eastern part of the Czech Republic). The first part of the paper is devoted to brief theoretical aspects of brownfields regeneration and its perception. The second part of the paper presents us with the results of the questionnaire survey which was carried out among local population of Svinov (n=163) focusing on the perception of five selected local brownfield sites. It was found out that the issue of brownfields rouses huge discussions among public of the model area of Svinov. Among the most supported re-use options of local brownfields greenery and cultural facilities were identified. Brownfield sites located outside the settled area of the city quarter are almost disregarded while the re-use of centrally located sites for greenery is strongly supported. In the final part of the paper, the findings are synthesized and recommendations for public administration and potential investors are formulated. [ABSTRACT FROM AUTHOR]

Trust in state institutions is essential for the stability and legitimacy of political regimes. Understood in evaluative terms, political trust has often been linked to the performance of the state and its institutions. The macrolevel sources of trust, however, are not well understood owing to the scarcity of empirical tests beyond cross-sectional analyses. This paper examines economic performance and the quality of governance as determinants of political trust in Europe. The analysis relies on data from the European Values Study and the World Values Survey between 1990 and 2019, covering 42 European countries surveyed at least twice. The modelling strategy explicitly distinguishes between-country variation from within-country variation in macrolevel characteristics, enabling the examination of cross-national and longitudinal effects. The results provide evidence of associations between economic performance - economic development and unemployment - and political trust in the expected directions, with some differences across European regions. Further, countries with less corruption tend to enjoy higher political trust, but the effects of changes in the level of corruption on trust depend on the corruption indicator used. Finally, improvements in the quality of electoral democracy are associated with declines in political trust. [ABSTRACT FROM AUTHOR]

Copyright of Polish Journal of Economics / Gospodarka Narodowa is the property of SGH Warsaw School of Economics and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Because of dynamic processes of creative economy development and resistance to the crisis of modern creative industries which occurs mainly in metropolitan areas, the interest in understanding these local processes as a factor of bringing international trade competitiveness and providing convergence among the countries where those metropolises are situated is of great value. The EU, and Central and East Europe (CEE) in particular, is not an exception. This paper reveals the most productive creative industries in the EU; fins out the impact of metropolises' creative activities development on countries' international specialization. Perspective products' and geographic patterns relating creative products' international specialization for CEE countries, especially for those which have recently signed association agreements with the EU (Moldova, Ukraine, and Georgia as an important East Neighbour for the EU) are grounded. Using inter- and intra-trading estimations, the positioning of CEE countries in the EU 28(+3) international specialization pattern is indicated. The product specialization of metropolises in CEE countries which may (or may not) contribute to further internationalization of creative industries in these countries has been revealed in the article. [ABSTRACT FROM AUTHOR]

Does culture have a causal effect on economic development? The data on European regions suggest that it does. Culture is measured by indicators of individual values and beliefs, such as trust and respect for others, and confidence in individual self determination. To isolate the exogenous variation in culture, we rely on two historical variables used as instruments: the literacy rate at the end of the 19th century, and the political institutions in place over the past several centuries. The political and social history of Europe provides a rich source of variation in these two variables at a regional level. The exogenous component of culture due to history is strongly correlated with current regional economic development, after controlling for contemporaneous education, urbanization rates around 1850, and national effects. [ABSTRACT FROM AUTHOR]

Europe's growth slowed in the 1990s, reinforcing the overall impression of a need to catch up with the US regarding standards of living. In reaction, EU leaders adopted the famous Lisbon Agenda in 2000. The Agenda is now under review, the aim being to determine why progress on its pro-growth goals has been unsatisfactory and what can be done about it. The first crucial step in this process is to understand the true sources of the European growth slowdown. Sources-of-growth calculations have always been imprecise, but evidence from the US suggests that‘quality upgrading’– especially in capital goods– has substantially worsened the precision problem since the 1990s. Unfortunately, quality adjusted sources-of-growth calculations, however, have not performed satisfactorily for Europe, so Europe's leaders are working with potentially misleading accounts of Europe's growth slowdown. Redressing this omission is the goal of this paper.Failure to account properly for capital quality improvements leads to two mistakes. First, overall GDP is underestimated. Our calculations, for example, show that euro area GDP growth was underestimated on average by 0.7 percentage points annually in the late 1990s. However, similar quality-adjustment figures raise US growth figures in the same period by even more, so quality-adjusting suggests that the US–EU growth gap was even more pronounced than previously believed. Secondly, the sources-of-growth calculations used to prioritize Europe's pro-growth policies are skewed. Our calculations show that the contribution of the slowdown in disembodied technical progress to the overall slowdown is more pronounced after quality adjustment.Our findings point to the need for adoption of microeconomic measures aimed at enhancing overall efficiency and boosting innovation activity. Such measures would aim at a better business environment, e.g. by easing regulatory and administrative burden and liberalizing energy and telecommunications markets.— Plutarchos Sakellaris and Focco Vijselaar [ABSTRACT FROM AUTHOR]

I discuss possible problems engendered by loss of national monetary policies, and study them from three empirical perspectives. First, are business cycles sufficiently synchronized across EMU member countries? The evidence suggests that economic activity in those countries has become increasingly correlated in the 1990s, and that policy co-ordination has played a role in generating that outcome. Second, are there asymmetries in the mechanisms through which policy affects economic activity? The paper documents that policy transmission was indeed heterogeneous in the member countries, and that structural and financial factors were sensibly related to cross-country differences in the response of output to a monetary policy shock. Third, how is policy implemented in an environment of diverse business cycle fundamentals and transmission mechanisms? Estimation of monetary policy reaction functions finds that the European Central Bank is closer to an aggregate of the central banks in Germany, France, and Italy than to the Bundesbank alone. [ABSTRACT FROM AUTHOR]

The evolution of the Western world has drawn on theoretical structures of classical and neoclassical liberalism for its explanatory support and sources of inspiration for centuries. Against this ideological background, institutionalists aim at showing that growth is a process of transformation, a double change: an economic and an institutional one. In this analysis, our purpose is to highlight the importance of informal institutional arrangements and their quality in explaining the disparities of revenues and developments between countries. In our approach, we will consider several indicators meant to highlight various aspects of research. The approach proposed is a transversal-comparative one and static methods pertain to uni- and multivariate analysis. The results obtained suggest the existence of major differences within the Central and East European area as far as informal institutions are concerned; moreover, the analysis conducted confirms the existence of a significant relation between the level of development and the structure of informal arrangements such as: trust level, bribe culture and corruption control. [ABSTRACT FROM AUTHOR]

A variety of foreign-led economies emerged in Central and Eastern Europe in the late 1990s. State economic strategies in the Visegrad Four region (V4) of the Czech Republic, Hungary, Slovakia and Poland have converged towards a distinct model of competition states. This article investigates the politics of investment attraction and promotion of particular investors within the states and regions in Central and Eastern Europe. It analyses coalitions of social actors which form in the process of bidding for investors and promoting them in the regions. These coalitions, the investment-promotion machines, can be understood as power blocs underpinning the competition state at the regional level. The analysis draws primarily on case studies of attraction and promotion of foreign direct investment (FDI) in the Czech Republic and Slovakia. [ABSTRACT FROM AUTHOR]