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The editorial board: prof. habil. dr. B. Blažys, Ph. D. M. Chandler, prof. habil. dr. V. Jankauskas, doc. dr. Z. Lydeka, prof. habil. dr. J. Mackevičius, prof. habil. dr. A. Marčinskas, prof. habil. dr. V. Pranulis, prof. habil. dr. K. Pučinskas, prof. habil. dr. A. Staškevičius, prof. habil. dr. A. Vasiliauskas. Editor-in-chief
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Straipsnyje pateikiama ekonominės plėtros politikos ir prekybos strategijų klasifikacija ir nagrinėjama jų įtaka šalių ekonominei raidai ir eksportui. Didžioji straipsnio dalis skiriama dviejų pagrindinių prekybos strategijų: importo pakeitimo ir eksporto plėtojimo charakteristikoms ir jų poveikiui ekonominiam augimui ir industrializacijos procesui. Naujų prekybos strategijų apžvalga, šių strategijų adaptavimo ir įgyvendinimo galimybės ypač svarbios Lietuvai, pakeitusiai savo orientaciją iš vidinės į išorinę ir pradedančiai įgyvendinti su ja susijusią eksporto plėtojimo strategiją.
In this article there are described General Equilibrium Models (GEM) for Sweden and Lithuania. The Swedish model is built on stable microeconomic foundations, and almost all relationships are derived from optimising behaviour by the agents concerned. At first, the model is specified in real terms, but with output determined from the supply side. In the short-run equilibrium the output price of the single domestic good in the model is determined by the interaction of supply and demand in the goods market. The long-run equilibrium may be characterised as an Europe equilibrium, with the domestic rate of inflation equalling the foreign rate. When money is introduced the real and financial sides of the economy are seen to be linked via the government budget deficit as well as through the equilibrium condition in the money market.
The GEM for Lithuanian economy is based on the Social Accounting Matrix (SAM) for year 1995. For economic analysis purpose it is used less advanced H. H. de Haan model for Hungarian economy. Especially having in mind that this model is more ready for use and rather attractive to start with. In this article there are presented some scenarious of economic development: energy sectors activity, fiscal and monetary policies instruments impact on Lithuanian economy.
The main purposes of this article are to introduce the notion of benefits targeting and evaluate it for Lithuanian social assistance benefit scheme. Targeting has two aspects. First is concerned with avoiding leakage, i. e. benefits should go only to those who need them. Second aspect of targeting is concerned with avoiding gaps, i. e. benefit should go to all of poor. Failure can arise either because eligibility rules prevent some needy groups from applying, or because take-up is less than 100 per cent. In the latter case, on the demand side, eligible claimants may not apply , either for lack of information or because of complicated bureaucratic procedure or stigma. On the supply side an eligible person may apply, but be refused, either in error or because of discrimination.
The basic concept of return on equity (ROE) is relatively simple to understand. However, care must be used in determining the elements entering its computation because there exists a variaty of views, which reflect different objectives of how these elements should be used in computation of return on equity ratios.
The article aims to reveal the discussion of computation and to rise analitical problems of return on equity. The analysis of return on equity is complex process requiring thorough examining factors, which influence this ratio.The article also is devoted to development of methodical problems of return on equity.
In this article are discussed the important problems of economic and innovation in a small and medium business.
Is summarised the main regularity in a small and medium business and are presented possibilities for the further development of an innovation activity. The innovation activity is presented as a system.
Is presented methodology of innovation appraisal.
Is made a summary of the research concerning economic processes in the sphere of innovation activity.
Are made recommendations on the development of organisation management models, which are helpful in efficient organisation of an innovation activity.
Under market conditions, knowledge of the personal needs allows to rationalise the human economical activities that is directed towards the satisfaction of human personal needs, as well as the better resource usage. It is necessary to evaluate the changes of the needs when forming the priorities of the state social-economical policy. During this century, it was managed to apply the scientifical and technological achievements in the dwelling sector, so the dwelling needs has experienced some essential qualitative changes. The dwelling electrification, provision with water supply, the application of central heating system to the dwelling houses and other inventions has shaped the new qualitative dwelling parameters. Many states all around the world follow these parameters in implementation of dwelling policy. The purpose of this article is to evaluate the dwelling policy implementation in Lithuania from the standpoint of stock of dwellings quality improvement.
This paper discusses the main principles of searching new computer-aided financial analysis technologies. Currency risk management is the very core for such study. The subject is the issue of how to combine in a knowlidge-based way the currency exposure of an investor or of a company in view of a set of N assets and liabilities in two currencies. The model of currency risk management procedure as an illustration is used with that end in view to explain the searching new techniques for solving financial analysis problems. The Artificial Inteligence theory is a means for founding progressive computer-aided systems in domain of economics and financial. The main principles of Artificial Inteligence applicability are proposed.
A variety of forms of managing economy has become characteristic for Lithuania due to the functioning of market economy. The biggest role in the economic life is played by the joint-stock and close companies. The activities of the companies and at the same time general economic activity in the country are affected by the pitfalls in legal regulation of company activities. The development of the joint-stock companies has shown that each inaccuracy or flaw of a legal act deforms economic life by either decreasing efficiency of utilisation of material and financial resources of the company and at the same its income or gives it all necessary preconditions for increasing the income of the company in a dishonest way by violating the interests of other economic entities and those of the state and even by appropriating the property and funds of the company. It is a negative trend with the view of economy on the whole.
Economic relations undergo a very dynamic development during the time of the reforms, therefore, the laws adopted are subject to rapid ageing. Consequently, the necessity matures to improve laws and legal acts respectively upon reaching certain stage of development. The countries which have deep traditions of market economy have accumulated a lot of experience in legal regulation of all forms of economic activity, which could and has to be used. Unfortunately, due to the differences in the level of market relations development even the comparatively perfect foreign laws and legal act cannot be mechanically transposed and applied.
The Law on Joint-Stock Companies of the Republic of Lithuania was adopted on 30 July 1990. State-owned enterprises which had dominated until that time were replaced by state-owned stock companies where the state owned more than 50 per cent shares. The right to govern in these enterprises was granted to private shareholders and employees of the enterprises, whereas the liability for the outcome of activity has not been provided for the latter. The enterprises operated inefficiently and their property and income were misappropriated. The Law on Joint-Stock Companies of 5 July 1994 was basically amended and the state joint-stock companies were reorganised to joint-stock companies.
The practice of economic life has shown that property and non-property rights of shareholders, particularly of those small, are insufficient as well as the control over the activities of the companys management and liability for the performance of the company. To remove deficiencies, the Law on Joint-Stock Companies was correspondingly amended on 17 April 1998. Moreover, the joint-stock companies have received the right to pay their debts to the state budget with their property and shares. In addition, special shares have been legitimised, which grant the state additional non-property rights in the privatised enterprises. These provisions fail to comply with the EU directives and, thus, should be revoked in the immediate future.
In this work the issues of the re-establishment of Lithuanian customs, of the documents regulating its activity and the regulation of the movement of goods through nationat border, which heavily depends on the economic state of the country, are analysed. To the opinion of the author, the legal framework of the activity of customs was created till the middle of 1991. It has been developed further to suit better the changing economic conditions of the country and need to be worked on even more as a part of the process of preparation of Lithuania for joining EU. The process involves the work on customs procedures, the declaration forms, the creation of unified informational system, the evaluation of goods crossing the border, the improvement of customs infrastructure, the establishment of additional customs posts and improvement of their activities. The next issues considered in the work is the necessity of the diminishment of the role of non tariff barriers and the role of the state institutions in the customs price setting.
The goal is to show the role of municipal administration when solving such sore social problems as pupils and students catering, network of trade and service enterprises, and its dislocation in the country. According to the research made the present situation and possible ways of their solution are analyzed. The investigation data show some improvement in the dislocation of trade, catering, and household service enterprises.
The current law of municipal administration does not solve the problem of adjusting the system of trade and service.
The government, municipal administrations have to create similar conditions to all inhabitants to purchase goods, to get the service they wish. It means these and some other state institutions have to coordinate the creation of the systems of trade service and service rendering. The experience of European countries shows that the improvement of the above mentioned systems is not left to itself, i. e. to market self-regulation.
It is suggested to prepare the conception of trade and service system that would be more detailed in separate programs. The authors agree with F. Tannery that the sphere of service having been highly increased it is necessary to have its development strategy the three dimensions of which - territory expansion, coordination of service activity, and substantiation of service development - are to be taken into account when creating it. The strategies of service development should be of state and local levels as well.
Planning of the development of state territory creates the conditions to have equal conditions of living all round the country, to form the policy of the development of residential areas and infrastructure systems, etc. The state leads the coordination strategy determining the priorities of economic activity and making the certain preconditions to carry out such the activity. Town authorities (municipal administration and council) affirm and accomplish the general plan of territory development in which the development of industrial activity, residential areas, recreation zones, etc. are considered. The municipal administration ought to consider the necessity of the development of service infrastructure. To fulfill this one has to use economical and financial possibilities of the market economics.
The aim of this work was the application of time series analysis theory and SAS software to select and realize forecasting methodic of Lithuanian monetary, inflation, interest rates and foreign trade indicators and estimate errors of forecast.
Trends and seasonal indices of main economic indicators where estimated. The models of trends were mainly linear but for CPI (consumer price index) and interest rates were used non-linear models. For estimation of seasonal index simple add-up method and procedure X-11 were applied. The random fluctuations of indicators were circumscribed using ARIMA models. Applied one-year-ahead forecast confirmed the expediency of autoregressive models for Lithuanian economics research.
The article investigates morbidity as one possible criteria of the rationality of the health care financing territorial distribution. Regional morbidity and financing differences have been analysed according to that criteria, correlation coefficient of the linear relationship between territorial data on morbidity and financing have been defined. The results showed that one criteria is not sufficient proof to determine the rationality of territorial distribution of financing. Although there is no linear correlation between morbidity and financing, the differences of territorial morbidity and financing are not statistically significant. There were found statistically significant urban and rural differences between the financing per 1 inhabitant of the institutions within the regional jurisdiction.