Institute of Economic Research

Nicolaus Copernicus University Faculty of Economic Sciences and Management

Polish Economic Society Branch in Torun

8th International Conference on Applied Economics

Contemporary Issues in Economy

- Market or Government?

edited by Adam P. Balcerzak

18-19 June 2015

Torun, Poland

Contents

Keynote Speakers

Market or Government?

Kalim Siddiqui

Economic Policy - State versus Market Controversy 39

Ezra Davar

Unemployment: Walras's Voluntary and Keynes's Involuntary 65

Andrzej Cieslik, tukasz Goczek

On the Evolution of Corruption Patterns in the Post-Communist Countries 93

List of Papers

Piotr Adamczewski

Conditions of Functional IGT Structure in Network Organization 117

Mieczystaw Adamowicz, Aldona Machla

Small and Medium Enterprises and the Support Policy of Local Government 118

Waleed Ahmad Jameel Addas

Is There a Principle of Equivalence in Economics? 119

Adam A. Ambroziak

Income Tax Exemption as a Regional State Aid in Special Economic Zones and its Impact Upon Development of Polish Districts 120

Lyubov Andrushko

Evaluation of the Meat Industry Efficiency in Poland, in the years 2000-2013 (Based on the data of the Central Statistical Office) 121

14 Contents

Dobrostawa Antonöw

The Influenae of the Stamp Duty on Setting and Running a Business 122

Arzybaev Askar

Synthesis of Pension System Parametric Assessment 123

Diana Elisabeta Balaciu, Lucian Cernusca

Ioana Teodora Mester

An Empirical Study on Students' Behaviour Regarding Creative Accounting Techniques 124

Adam P. Balcerzak

Europe 2020 Strategy Implementation. Groupingthe Countries with the Application of Natural Breaks Method 125

Bernadeta Baran

Renewable Energy Support in Germany as an Example of Effective State Policy 126

Bartosz Bartniczak

State Aid as a Tool of Market Failures 127

Krzysztof Beck

Business Cycle Synchronization: A Regional Perspective 128

Joanna Bednarz, Magdalena Markiewicz

From Confrontation to Cooperation - Institutional Support in Building Cooperation of Polish Enterprises 129

Tomasz Bernat

Genes and Entrepreneurship - Is There Any Relation? 130

Dalia Bernatonyte

Estimation of Export Specialization: Lithuanian Case 131

Contents 15

Kamila Bielawska

Pension Reforms in Central and Eastern European Countries and Fiscal Policy Coordination in the European Union After 2008

Beata Bieszk-Stolorz, Iwona Markowicz

Influence of Unemployment Benefit on the Duration of Registered Unemployment Spells

Nina Bockovä

R&D Tax Incentives in Industry: Empirical Study Among Small and Medium Electronics Manufacturing Enterprises

Agnieszka Bojanowska

Model of Building Relationships With Customers Via the Use of Mobile Devices

Katarzyna Boratynska

Corporate Bankruptcy and Survival on the Market: Lessons from Evolutionary Economics 136

Arkadiusz Borowiec

A Model Assessing Innovativeness of Administration Units Awarding Public Contracts as a Tool to Conduct Economic Policy of the State 137

Krzysztof Borowski

Analysis of Monthly Rates of Return in April and Correlation Analysis of Monthly Rates of Return in April on the Example of Selected World Stock Exchange Indices 138

Christophe Boya

Testing Capital Market Efficiency 139

Sylwia Bozek, Izabela Emerling

Protecting the Organization Against Risk and the Role of Financial Audit 140

132

133

134

135

16 Contents

Ivars Brlvers

Market or Government - Is There a Third Way? 141

Dominika Brözda

Transmission Mechanism of the Federal Reserve System's Monetary Policy in the Conditions of Zero Bound on Nominal Interest Rates 142

Jurgita Bruneckiene, Jolita Sinkiene

The Specific of Economic Competitiveness Evaluation of Cities from Cross-border Region Under the Context of Urban Shrinkage 143

Marcin Brycz

How Pension System Investment Contributed to Debt Inflation - Case of Sweden 144

Katarzyna Budzyriska

Offshoring sector in Poland 145

Wieslawa Caputa

Social Relations and Environmental Influenae as a Determinant of Customer Capital 146

Katarzyna Cheba

The Influenae of Clusters on Economic Development. A Comparative Analysis of Cluster Policy in the European Union and Japan 147

Elena Cherniavskaya

European Transport Project Rail Baltica: Perspectives for Poland and Russia 148

Jadvyga Ciburiene

The Evaluation of Economic Development Index: Theory and Research 149

Andrzej Cieslik

Export Versus FDI in Cournot Duopoly Framework 150

Contents 17

Andrzej Cieslik, Jan Michatek, Iryna Nasadiuk

Determinants of Export Performance of Ukrainian Firms 151

Anna Cudowska-Sojko

The Global Economic Crisis and Poland's State Debt 152

Agnieszka Czajkowska

Mezzanine as an Alternative Form of Corporate Financing 153

Joanna Czaplak

Analysis ofthe Effectiveness of Public Services Provision by Local Governments in the Years 2007-2013 154

Elzbieta Czarny, Jerzy Menkes

European Union and European Germany 155

Elzbieta Czarny, Pawel Folfas

World Trade and Regional Trade Orientation in the Context of Forthcoming Transatlantic Trade and Investment Partnership 156

Stawomir Czech

Choice Overload Paradox and Public Policy Design. The Gase of Swedish Pension System 157

Teresa Czerwinska, Angelika Lala

Globally Systemically Important Insurers - Are They Really Dangerous for Global Financial System? 158

Stawomir Czetwertynski

Internet Peer Production and Unauthorized Copying of Intellectual Property Via BitTorrent Network 159

Bazyli Czyzewski, Jan Polcyn, Anna Hnatyszyn-Dzikowska

Concept of Measuring Efficiency of Public Goods Provision Based on Educational Sector in Poland 160

18 Contents

Ezra Davar

General Equilibrium Theory - Walras Versus Post-Walras Economists: "Rinding Equilibrium" - Losing Economics 161

Piotr Dominiak, Ewa Lechman, Anna Okonowicz

Fertility Rebound and Economic Growth. New Evidence for 18 Countries Over the Period 1970-2011 162

Ryta Dziemianowicz, Aneta Kargol-Wasiluk, Renata Budlewska

Fiscal Councils as a Part of Fiscal Governance in the European Union Member States 163

Eva G. Fekete, Zsuzsanna Dabasi-Haläsz Daniel Kuttor Anna Vizkeleti

Between the Market and the Government - Social Economy Opportunities and Initiatives on Post-communist Peripheres 164

Anna M. Ferragina, Fernanda Mazzotta

Employment Growth in Italy: the Role of Firm Size and Internationalisation 165

Piotr Fiszeder, Witold Orzeszko

Detecting Nonlinear Causal Relations on the Agricultural Market 166

Olaf Flak, Grzegorz Glöd

Features of Polish Companies. Results of the Company Competitiveness Barometer 2014 167

Anna Fornalska - Skurczynska

How to Effectively Support Export Activity 168

Peter Friedrich

Determining Social Capital by Social Accounting 169

Waldemar Gajda

Paradigm of Empirical Research of Tools Determining Management of Contemporary Economic Organisations With the Use ofthe Delphi Method 170

Contents 19

Malgorzata Gajowiak

Asset Sources of Competitive Advantage of SMEs From High-tech Sector in the Region of Greater Poland 171

Tomasz Galewski

Problems in Measuring Price Dispersion in E-commerce 172

Bogna Gawronska-Nowak, Wojciech Grabowski

Using Genetic Algorithm in Dynamic Model of Speculative Attack 173

Aleksandra Gqsior

Innovation and Their Impact on the Environment 174

Aneta Giedrewicz-Niewinska

Employee Involvement in Corporate Governance in a European Company 175

Wieslawa Gieranczyk, Agata Kordowska

Regional Differences in the Activity of Industrial Enterprises in the Use of Public Financial Instruments to Support Innovation in the Period 2011-2013 176

Katarzyna Glinka

China's Financial Market Adjustment in the Wake of Global Financial Crisis 177

Beata Glinkowska

Knowledge Acquisition in Small and Medium-sized Enterprises 178

Micha! Gluszak, Agnieszka Malkowska

Pro-investment Local Policies in the Area of Real Estate Economics - Similarities and Differences in the Strategies Used by Communes 179

fcukasz Goczek

Semi-strong Informational Efficiency in the Polish Foreign Exchange Market 180

20 Contents

Jadwiga Gorqczkowska

Technological Parks and the Innovation Activity of Enterprises in the Industrial Networks - Developed Regions vs. the Intermediate Ones 181

Anna Grzes

Does the Outsourcing Affect Labour Costs in Enterprises? Evidence from Firm-level Data 182

Katarzyna Gwözdz

Assessing the Non-financial Investment Profitability with Variable Discount Rate 183

Bärbel Held

Comparison of Public, Non-Profitand Private Hospitals 184

Anna Horodecka

Reasons for the Changes of the Concepts of Human Nature in the Economics Exemplified on the Contemporary Trends 185

Vladimir Hyänek, Zuzana Prouzovä

Non-profit Institutions' Funding Resources in the Time of Crisis: Market or Government? 186

Malgorzata Magdalena Hybka

Allocating Tax Revenue to Sub-Central Government Levels: Lessons from Germany and Poland 187

Dmytro Iefremov

The Scale and Structure of Chinese Public Sector: Sources of Anomalies 188

Micha! Igielski

Management System of Knowledge Workers in the Contemporary Enterprise 189

Contents 21

Bogna Janik, Krzysztof Kolodziejczyk

Eco-innovations in the Business Practice of the Companies Traded on the Warsaw Stock Exchange - an Overview of Selected Results 190

Elzbieta Janton-Drozdowska, Maria Majewska

Social Capital as a Key Driver of Productivity Growth of the Economy: Across-countries Comparison 191

Elzbieta Janton-Drozdowska, Maria Majewska

Investment Attractiveness of Central and Eastern European Countries in the light of New Locational Advantages Development 192

Jakub Janus

The Transmission Mechanism of Unconventional Monetary Policy... 193

Michal Jarmolovic

Economic and Monetary Union and the Optimal Currency Area Theory: an Attempt at Market design? 194

Tomasz Jasinski, Agnieszka Scianowska

Security Assessment and Optimization of Energy Supply 195

Andrzej Jgdruchniewicz

Monetary Policy and Investments in the Polish Economy 196

Izabela Jonek Kowalska

State Aid and Competitiveness of the Hard Coal Mining Industry in the European Union 197

Aldona Kamela-Sowinska

Accounting Integration issues of EU Member States 198

Aliyu Ibrahim Kankara, S.S. Ibrahim

Economic Negation of Artisanal Gold Mining at Maiwayo and Gada-Eregi Environ, Northern, Nigeria 199

22 Contents

Dorota Kawiorska

Healthcare in the Light of the Concept of Weifare State Regimes - Comparative Analysis of EU MS 200

Milka Kazandziska

Macroeconomic Policy Regime in Poland 201

Tomasz Kijek

Intellectual Property Rights and Appropriability of Innovation Capital: Evidence From Polish Manufacturing Firms 202

Emilia Klepczarek

Disclosure of Risk Information in the European Banking Sector 203

Jacek Klich

Health Care Systems' Evolvement and the Changing Role of the State in Selected CEEC 204

Lidia Klos

The Competitiveness of SMEs 205

Olga Kontorovich, Marina Alekseevna Fedotova

Olga Vladislavovna Loseva

Monetary Valuation of Intellectual Human Capital in Innovative Activity 206

Katarzyna Kopyscianska

Admissibility of Optimizing the Tax Bürden 207

Marek Kopyscianski

The Impact of Tax-free Amount of Personal Income Tax on Budget Revenues 208

Aleksandra Kordalska, Magdalena Olczyk

Global Competitiveness and Economic Growth: A One-Way or Two-Way Relationship? 209

Contents 23

Andrzej Kowalczuk

The Analysis of the Competitiveness of the Biggest Enterprises in the Construction Industry in Podlaskie Region Compared to the Sector, Based on the Radar of Nagashima 210

Iwona Kowalska

Sources of Financing Knowledge-Based Economy: the Case of Formal, Non-Formal and Informal Education in Poland 211

Katarzyna Kowalska

Network Organization and Corporate Social Responsibility 212

Iwona Koza

The Modern Challenges of Regional Development and Socio-economic Potential of Town Districts Belongingto North Macro-region of Poland 213

Barbara Kryk

The Accomplishment of the EU Objectives Relating to LLL in Poland 214

Katarzyna Kubiszewska

Banking Concentration in the Baltic and Western Balkan States - Selected Issues 215

Joanna Kuczewska, Joanna Stefaniak-Kopoboru

Export Specialization in Services ofthe Visegrad Countries 216

George Kudrna

Means Testing of Public Pensions: The Case of Australia 217

Justyna Kufel

Monopolistic Markups in the Polish Food Sector 218

Maria Kukurba

Supply Chain Management and the Value of Enterprise 219

24 Contents

Jan Kultys

Controversy About Theoretical Fundamentals of Corporate Governance 220

Remigiusz Lewandowski

Economic Sectors of Strategie Importance for the State Security 221

Wieslawa Lizinska, Renata Marks Bielska

Karolina Babuchowska, Magdalena Wojarska

The Institutional Efficiency of the Local Government in Terms of Administrative Decisions 222

Monika fcobaziewiez

Reporting Process Standardization in B2B System 223

Blazej fcyszczarz

Public-private Mix and Performance of Health Care Systems in CEE and CIS Countries 224

Joanna Machnik-Sfomka, Agata Stachowicz-Stanusch

Application of Modern Information Technologies in Prevention of Corruptive Practices in an Organization 225

Joanna Mackiewicz-tyziak

Fiscal Sustainability in CEE Countries - the Case of the Czech Republic, Hungaryand Poland 226

Malgorzata Madrak-Grochowska

The Knowledge-based Economy as a Stage in the Development of the Economy 227

Ireneusz Maj

Asymmetry ofthe Information and the Knowledge Between Owners and Workers in Large Family Companies, as the Determinantoftheir Success 228

Contents 25

Ingrid Majerovä

The Impact of Selected Variables on the VAT Gap in the Member States ofthe European Union 229

Joanna Malecka

Revenues, Expenses, Profitability and Investments of Potential Contenders for the Status of a Listed Company in Poland 230

Piotr Masiukiewicz

Doctrine of Public Good in Banking Versus State Intervention 231

Agnieszka Matuszewska-Pierzynka

Net Profit Distribution Policy in Companies Using State-owned Enterprises Against Payment 232

Blazej Mazur, fcukasz Lenart, Mateusz Pipieri

Statistical Analysis of Business Cycle Fluctuations in Poland Before and After the Crisis 233

Marta Mazurowska

Dillemas of Hedge Accounting 234

Rüta Meiste, Sandra Jakstiene

Crisis Diagnosis in Anti-Crisis Management Process in a Company ...235

Tomas Meluzin, Marek Zinecker

Trends in IPOs: The Evidence from CEE Capital Markets 236

Aneta Michalak

The Cost of Capital in the Effectiveness Assessment of Financial Management in a Company 237

Wiestawa Miemiec

Tax Optimization. The Use of Methods and Rates of Depreciation of Fixed Assets 238

Stawomir Miklaszewicz

Sovereign Debt Crisis of Euro Zone Countries 239

26 Contents

Dorota Milek, Paulina Nowak

Regional Specialisation as an Endogenous Factor in the Development of Poland's Provinces 240

Marta Moczulska, Janina Stankiewicz

The Involvement of Employees in Knowledge Management in the Light of the Research Results 241

Jean-Louis Monino, Christophe Boya

A Non-parametric Modeling Between Time Series: a Qualitative Approach 242

Sylwia Morawska, Przemyslaw Banasik

Responsible courts in a Global World: "Managerism" or "Managerialism"? 243

Micha! Moszynski

Ordoliberalism and the Macroeconomic Policy in the Face of the Euro Crisis 244

Anna Mozdzierz

Strengthening the Post-crisis Fiscal Rules - the Case of Spain, Slovakia and Sweden 245

Anna Murawska

Differentiation of Unemployment Among People in a Special Situation on the Labor Market on the Example of Polish Regions 246

Tomasz L. Nawrocki

R&D Activity and Core Business Efficiency on the Example of Technology Companies 247

Quang Nguyen

Linking Group Norm and Status Seeking Preferences: Insights from a Field Experiment on Charitable Giving 248

Contents 27

Liudmila Nikolova, Dmitriy Rodionov, Irina Rudskaia

Regional Innovation Programs' Sustainability Under Risk and Uncertainty 249

Tomasz Norek, Daniel Luis Arenhardt

Comparative Analysis of Innovative Activity Determinants in Companies of Small and Medium Enterprises Sector in Brazil and Poland. Results of Empirical Researches 250

Olena Nykyforuk

Transport Policy of Ukraine in the Context of Ukraine-European Union Association Agreement 251

Matgorzata Olszak, Mateusz Pipien, Sylwia Roszkowskac

The Impact of Capital Ratio on Lending of EU Banks - the Role of Bank Specialization and Capitalization 252

Izabela Ostrowska

Analysis the Issue of Satisfaction with Online Shopping of Polish Consumers 253

Magdalena Owczarczuk

Economic Freedom and FDI in Postsocialist Countries of European Union 254

Irina Doina Pä§can, Ramona Neag

Economic Consequences of the Adoption of the International Financial Reporting Standards: Evidences in the Research Literature 255

Adalmiro Andrade Pereira, Sara Neves

Investment Analysis Based on the Context ofUse 256

Iaroslav Petrakov

Between Intervention and Free market: Fiscal Policy Tools Design for Innovative Development of the Depressed Regions (Ukrainian Case) 257

28 Contents

Pawel Piqtkowski

Economic Policy Under Influenae of Globalization. Opportunities and Threats 258

Anna Piekarczyk

Contemporary Organization and a Perspective on Integration and Development 259

Aleksandra Pieloch-Babiarz

Catering Approach to the Dividend Payment Policy on the Warsaw Stock Exchange 260

Micha! Pilc

What Determines the Reforms of Employment Protection Legislation? A Global Perspective 261

Aurelian Petrus Plopeanu, Tiberiu Bräilean

Wall Street's Culture 262

Piotr Podsiadio

The Question of State Aid for Rescuing and Restructuring Undertakings in Difficulty in the Context of the General Government Sector Debt of EU Member States 263

Elzbieta Pohulak Zolgdowska

Innovation in Contemporary Economies 264

Mariusz Pröchniak, Bartosz Witkowski

On the Use of Panel Stationarity Tests in Convergence Analysis: Empirical Evidence for the EU Countries 265

Micha! Ptak

Public Support for Renewable Energy in Poland 266

Miroslaw Raczynski

Competition Policy and Crisis. Economic Issues 267

Contents 29

Tjasa Redek, Matjaz Koman, Janez Prasnikar

Jan Svejnar

The Effect of Crisis on Labor's Bargaining Power and Wage-employment Outcomes in Europe 268

Agne Reklaite

Globalisation Effect Measure via Hierarchical Dynamic Factor Modelling 269

Matgorzata Renigier-Bitozor, Andrzej Bitozor

Optimization of the Variables Selection in the Process of Real Estate Markets Rating 270

Anita Richert-Kazmierska

Demographic Changes in Poland - the Regional Dimension 271

Irina Romodina, Maxim Silin

Perspectives of Introduction Sustainable Procurement In Public Procurement in Russia 272

Tomasz Rosiak

Fiscal Capacity for Euro Area - Towards a Bigger EU Budget? 273

Matgorzata Rutkowska-Podolowska, Grzegorz Podotowski

Nina Szczygiet

Vino Therapy and its Impact on Health Attitudes: The Innovation Perspective 274

Alina Rydzewska

Contemporary Nature of Stock Exchange from the Perspective of Demutualization Process 275

Artur Sajnög

Comparative Analysis of Economic Efficiency of Polish and German Listed Companies 276

30 Contents

Iwona Salejko-Szyszczak

Poverty in Poland in the Years 2000-2013 277

Doaa M. Salman

Role of Institution, Government to Robust International Entrepreneurial Activities and Economic Growth: New Evidence 278

Saifullahi Sani Ibrahim

Budgetary Allocation and Poverty Situation in Nigeria: the Implication for Economic Insecurity 279

Greg Sand, Leonidas Tsitouras, George Dimitrakopoulos

Vassiiis Chatzigiannakis

GlobaliFusion, The First Worldwide, Holistic, Information & Communication Technologies [ICT] and Big Data Aggregation Approach to Social Media Marketing 280

Alicja Sekula, Joanna Smiechowicz

Systems of General Grants for Local Governments in Selected EU Countries Against the Background of the General Theory of Fiscal Policy 281

Inna Semenenko

Energy security of Ukraine in the Context of its Sustainable Development 282

tukasz Siemieniuk

Academic Business Incubators as an Institutional Form of Academic Entrepreneurship Development in Poland 283

Anna Siemionek, Malgorzata Siemionek

Balanced Scorecard Concept in Romanian Small and Medium Enterprises 284

Zaneta Simanaviciene, Andzej Volochovic

Akvile Cibinskiene

Features of Energy Saving Potential in Household Evaluation 285

Contents 31

Agnes Sipos

Shared State Taxes and Tax Policy of Local Self-governments in Connection With Tax Morale 286

Beata Skubiak

Financial Instruments for Development the Rural Areas 287

Ronalds Skulme, Valerijs Praude

Social Media Evaluation Metrics 288

Katarzyna Smolny

The Processes of Globalisation Versus Fiscal Regulations Regarding to the Debt and the Deficit in the EU 289

Konrad Sobanski

Valuation Effect as a Determinant of the International Investment Position in Central and Eastern European Economies 290

Alla V. Sorokina, Stepan P. Zemtsov, Pavel. N. Pavlov

Specifics of Cluster Policy in Russia 291

Tomasz Sosnowski

Motives and Effects of the Initial Public Offerings on the Warsaw Stock Exchange 292

Zbigniew Stariczyk

Economic Slowdown in BRIC Countries After Global the Financial Crisis 293

Vladena Stepänkovä, Jifi Kriz, Lenka Smoli'kovä

Management of Projects Risk with Business Intelligence 294

Beata Stgpien, Monika Sulimowska - Formowicz

Economic vs Managerial Perspective on Inter-organisational Relations' Analysis - Are Economists on the Dead-end Track? 295

32 Contents

Andrzej Stolarski

The Effect of Pre-emptive Methods and the Maturity of the Corporate Income Tax on the Company's Liquidity Management Strategy. Analysis Based on the Solutions Adopted in the European Union Countries 296

Joanna Stryjek

Tax Incentives for Innovation 297

Hana Stverkovä, Vlasta Humlovä

Assessment of the Performance and Competitiveness of the Selected Clusters in the Moravian-Silesian Region 298

Iwona Szczepaniak

Poland's Export Specialization in Trade with the EU - Food Products vs Selected Croups of Non-food Products 299

Katarzyna Szopik-Depczyriska

Effects of Innovative Activities of Polish Industrial Enterprises of Western Poland 300

Jaroslaw Szostak

Defining the State's Responsibility for Social and Economic Development 301

Danuta Szwajca

Corporate Reputation and Customer Loyalty as the Measures of Competitive Enterprise Position - Empirical Analyses on the Example of Banking Sector 302

Paulina Szyja

The Role of the State in Creating a Green Economy 303

Magdalena Szyszko, Karolina Tura

Can Inflation Forecast and Monetary Policy Path be Really Useful? The Gase of Czech Republic 304

Contents 33

Karol Sledzik

"Fettered" and "Unfettered" Capitalism in J.A. Schumpeter's Concept of Tax State and Economic Development 305

Dominik Sliwicki

Decomposing the Net Efficiency of Active Labor Market Programs...306

Arkadiusz Swiadek

The Economic Cycle and the Innovation Activity of the Polish Industry System 307

Lukas Turcok, Athanasios Podaras

A VBA Model for Calculating Partnership Efficiency 308

Kamila Tureckovä

Income Inequality by Method of Non-weighted Average Absolute Deviation: case study of Central and Eastern European Countries 309

Vlada Vitunskiene, Evaldas Serva

Lithuania's Agri-food Industry Export Competitiveness 310

Aneta Waszkiewicz

Shadow Banking - Its Place in the Modern Financial System 311

Joanna Wggrzyn

Research Trends of Public-Private Partnerships (PPPs) in Poland ....312

Anna Wildowicz-Giegiel, Adam Wyszkowski

Absorption of EU Funds in the Context of Polish Enterprises Competitiveness Measured by Profitability Rates 313

Anna Witek-Crabb

Maturity of Strategie Management in Organization 314

Julia Wlodarczyk, Jan Acedanski

Dispersion of Inflation Expectations in the European Union Düring the Global Financial Crisis 315

34 Contents

Dorota Wojtczak - Samoraj

The Independence of the European Central Bank in the Context ofthe Single Supervisory Mechanism 316

Grazyna Wolska

The Review of Theories of Mainstream Economics on the Example of Economic Models 317

Beata Wozniak-J^chorek

Institutional Determinants of Regional Diversity of Labor Marketin Poland 318

Gabriela Wronowska

Weifare and Higher Education in EU Member States - Comparative Analysis 319

Silvia Zaharco

The Impact of Integration in the European Union on the Development of Food Products Trade of the Republic of Moldova 320

Magdalena Zaj^czkowska

Prospects for the Development of Prosumer Energy in Poland 321

Anna Zqbkowicz

A Paradox ofReforming Pensions in Poland 322

Malgorzata Zielenkiewicz

The Role of the Level of Development, Geographica! Factors, and Culture for the Efficacy of Economic Freedom 323

Mariusz Zielinski

Unemployment and Labor Market Policy in Visegrad Group Countries 324

Contents 35

Dorota Zuchowska

Accession to the Eurozone as Lithuania's Exit Strategy From the Currency Board System 325

Marek Zukowski, Anna Biatek-Jaworska

Determinants of R&D Costs Capitalization for Innovation-active Firms 326