Electronic Library of Scientific Literature
Volume 44 / No. 4 / 1996
In the introduction of the article the author characterizes the fundamental
tendencies in the development of world economy and its main components
since 1960's. As far as the 1990's are concerned, the signal of change
in the development of world economy was the recession, which in 1991, affected
the Anglo-Saxon countries, and a year later, spread to other industrially-advanced
In the first part an analysis is made about the recession in the group of transitional economies where the decline of the Gross Domestic Product already began in 1990, which, however, didn't lead to the recession of the world economy. The author comes to the conclusion that in the transitional economies during 1990's, occurs wider space for the activities of cyclical influences and for the syndrom with cyclical swings of world economy. Naturally, from the cyclical swings even Slovakia was not exempt (and even in the future will not be exempt), which should be taken into account in the formulation of economic strategy of the Slovak Republic. The development of economy in the Eastern European countries (especially members of CEFTA) from 1994 can be evaluated as a beginning of revival, i.e., the overcoming of structural or transformational decline. In the article are mentioned facts about the development of GDP, un-employment, inflation and external economic relations. Projected appraisal in transitive economies (individually in countries of CEFTA) are on the whole considered positive. What's unclear until now is the projected development in the Commonwealth of Independent States.
The second part is devoted to the cyclical development in the industrially-advanced countries (OECD). The unequal development of recession in these countries in 1990's didn't lead to the absolute decline of GDP. The Gross Domestic Product within this group during 1991-1993, only stagnated. The author also takes into account other indicators- prices, unemployment, and the main components of aggregate demand. In 1994, began in countries of OECD a revival, which continued (certainly unequally) also in 1995.
In the conclusion of the article, the author points to some of the problems of anti-cyclical (stabilization) policy in the industrially-advanced countries.
In the article are overlapping three levels of author's views pertaining
to the current, so-called new classical economics (macroeconomics).
At the first level, author's aim is to provide for the wider reading audience an account of the 1995 Nobel Price winner, Robert E. Lucas, Jr., the acquaintance of his scholarily personality and author's overall characteristic of his work, especially his personal contribution to the development of the paradigm of rational expectation.
At the second level, the author tries respectively to come closer to the inner beginning of the theory of rational expec-tations. He shows that foundations can be derived already from the classical conception of Adam Smith concerning homo economi-cus. The development continues in the realm of neoclassical economics, later in an understanding of rational choice under the conditions of certainty, risk and indefiniteness, but especially through broad analysis concerning the understanding of an authentic rational expectations whose foundations gave J. F. Muth.
At the third level, the author calls into question the validity the hypothetical conduct of the firm according to the "prescription" of the theory of rational expectation. He relies both on the work of H. Simon's, and later on the results of current cognitive sciences, the theory of artificial intelligence, and especially on his own understanding of evolutionary cognitive economics. The author shows through several examples that the authenticall economic subject acts and decides on the basis of other than rational expectations hence not in sense of new classical economics. Statistically, the average firm, however, needs not to be in conflict with the above-stated theory.
On the basis of the analysis concerning the state of market effectiveness,
covering expenditures by price and creation of reproductive resources of
material investment ownership, we have evaluated the adequacy of price
creation of agricultural raw materials as well as the need of change in
the framework of the price formation in agro food production. The market
production of agricultural firms has not been stabilized even in 1995.
The increase of market live production only in insignificant measure determines
the increase in gain of farm animals. This is also the main reason for
high expenses of animal products. On the average the actual prices of agricultural
producers cover the expenses of firms from 71 % up to 150 %, and are not
capable to fulfill the allocation function thus do not act as the determining
actor for the reconstructuring of agricultural production.
For the economic turn round the reproductive resources are decisive. The investments from 1993, in current prices, are increasing but the depreciation of material investment ownership continues to increase. From this perspective, Slovak agriculture still has not overcome the treshold of growth phase. It is expected that the prices of agricultural producers will in the near future increase faster than the prices of investment assets. This will narrow the gap of price scissors between input and output, with which a large part of firms until now has not been able to come to terms.
There is a need to give subsidy support to the more competitive firms. Presently, we are recommending that in order to face fundamental changes in the price creation of agricultural raw inputs, these prices must also play allocation function. They must be constituted on the basis of agreed prices between the producers and consumers, and in important commodities, in such a way so as to guarantee the minimum price.
The proposals presented in the article are of limited nature for the solution and the improvement of economic parameters of agricultural firms in the near future.
The supply strategy results from the basic relations among the three following subjects: material input consumers, suppliers and corporate supply department. Each of the above mentioned subjects has his particular goals which influence the supply strategy. Between them are relations of material, financial and informative character. The supply strategy has its own functions and dimensions. When applying it, we can either adjust the strategy to the actual situation in the company or we can create suitable conditions for specific model of strategy. Supply strategy is realized by means of its specific elements which can be grouped as follows: those concerned with the matters of purchase; those concerned with resources and elements related to the creation of purchase conditions. By combining these above mentioned elements (instruments), a specific supply strategy is created. The supply strategy is created only for those material groupings which have a substantial influence on corporate costs and revenues. Portfolio analysis is a very suitable method for deriving supply strategy models. We should keep in mind that supplying is one of the company's basic functional activities and for this reason cannot be missing in corporate strategy.
The information technology gradually changes also those traditional branches known as business activities. The author uses basic precepts of algebra and informatics. Through their application he is able to achieve algorism of business activities and to create preconditions for the establishment of applied software products. For accenting of individual influences he creates a model of products and a model of business activities. He characterizes and mathematically expresses new views of vector products, elementary operation of business activities and an operator of transformation by business activity. The business process is able to be mathematically expressed through com-position entry. The findings of the research through mathematical mechanism are beneficial for the integration of business activities.
The process of reconstructuring of the economy, which began in Slovakia
from the beginning of 1990's, is creating advantageous base for economic
cooperation between French and Slovak firms. This process of cooperation
involves mostly research and scientific French and Slovak university establishments.
The article presents the research results pertaining to the cooperation
between French and Slovak firms, which is regularly accomplished between
the Department of Marketing at the University of Economics in Bratislava
and scientific establishment for research and study of management of firms
at the GREG University Pierre Mends-France in Grenoble.
Besides the evaluation of current degree of French investments in Slovakia, the article analyzes the business relations between Slovakia and France, especially types of firms, reasons for investing in Slovakia, development of cultural relations, positive aspects of the cooperation, and problems in mutual relations and firm's cultures.
The results of the research findings demonstrate that the overall consequences of cooperation between the French and Slovak firms are positive.
Simulteneously, it is necessary to emphasize that it is very problematic to characterize the complex conditions for its successful development and the area of economic return of the cooperation because each firm is represented as a unique entity. An examination of the development of the above-mentioned cooperation will require an ongoing studies and their improvement.