Comparative Economic Research. Central and Eastern Europe Volume 19 (2016), No. 3http://hdl.handle.net/11089/199422024-03-29T01:13:52Z2024-03-29T01:13:52ZThe Finance Growth Link: Comparative Analysis of Two Eastern African CountriesFanta, Ashenafi BeyeneMakina, Danielhttp://hdl.handle.net/11089/205162019-03-15T07:31:00Z2016-09-24T00:00:00ZThe Finance Growth Link: Comparative Analysis of Two Eastern African Countries
Fanta, Ashenafi Beyene; Makina, Daniel
This paper examines the finance growth link of two low-income Sub-Saharan African economies – Ethiopia and Kenya – which have different financial systems but are located in the same region. Unlike previous studies, we account for the role of non-bank financial intermediaries and formally model the effect of structural breaks caused by policy and market-induced economic events. We used the Vector Autoregressive model (VAR), conducted impulse response analysis and examined variance decomposition. We find that neither the level of financial intermediary development nor the level of stock market development explains economic growth in Kenya. For Ethiopia, which has no stock market, intermediary development is found to be driven by economic growth. Three important inferences can be made from these findings. First, the often reported positive link between finance and growth might be caused by the aggregation of countries at different stages of economic growth and financial development. Second, country-specific economic situations and episodes are important in studying the relationship between financial development and economic growth. Third, there is the possibility that the econometric model employed to test the finance growth link plays a role in the empirical result, as we note that prior studies did not introduce control variables.
2016-09-24T00:00:00ZSocial Innovations in Companies and in Social Economy EnterprisesFurmańska-Maruszak, AgnieszkaSudolska, Agatahttp://hdl.handle.net/11089/205172019-03-15T07:31:13Z2016-09-24T00:00:00ZSocial Innovations in Companies and in Social Economy Enterprises
Furmańska-Maruszak, Agnieszka; Sudolska, Agata
The paper also shows the links between issues of internal social innovations and positive employment relationships. The presented research findings prove that positive relationships among employees are significantly and positively correlated with a broad approach to the need for introducing social innovations. Moreover, the paper points out that positive employment relations are perceived as an important outcome of workplace innovation practices in European companies.
2016-09-24T00:00:00ZThe Canadian Unemployment Insurance Generosity: Reflections from a Comparative AnalysisAmine, Samirhttp://hdl.handle.net/11089/205152019-03-15T07:30:49Z2016-09-24T00:00:00ZThe Canadian Unemployment Insurance Generosity: Reflections from a Comparative Analysis
Amine, Samir
The unemployment compensation system is at the centre of the current economic and political debate in many Western countries which, under the effects of the increase in public debt, must decide the level of their unemployment insurance while taking into account its impact on the performance of the labour market. In this article, we compare the generosity of such public policy in France and in Canada, while focusing on the experience of central and eastern Europe. By building a composite index, we show that the French unemployment insurance is more generous only in pecuniary terms, and not in its qualitative dimension.
2016-09-24T00:00:00ZThe Polish Regional Labour Market Welfare Indicator and Its Links to Other Well-being MeasuresRęklewski, MarekRyczkowski, Maciejhttp://hdl.handle.net/11089/205142019-03-15T07:30:39Z2016-09-24T00:00:00ZThe Polish Regional Labour Market Welfare Indicator and Its Links to Other Well-being Measures
Ręklewski, Marek; Ryczkowski, Maciej
We propose and construct an indicator of labour market well-being in Poland for the year 2013. The indicator is positively related to the degree of civilizational welfare, social welfare, material welfare and psychological well-being in Poland. We conclude that ameliorating the labour market situation improves the quality of the public’s life. The link between our labour market indicator and the total fertility rate turned out to be statistically insignificant.
2016-09-24T00:00:00Z