Electronic Library of Scientific Literature
Volume 44 / No. 9 / 1996
The paper presented is focused both on general presentation of adaptation
process of the Slovak enterprises and on analysis of the three mutually
interrelated segments linked to the transformation of the Slovak enterprise
sphere - enterprise management, capital market and foreign direct investment.
The first chapter deals with enterprise adaptation process towards market conditions. In a brief review the author describes main problems Slovak firms had been facing in the first years of transformation process and presents an analysis of enterprise sphere from the point of view of its size and ownership structure of main segments of economy. Also problems linked to bankruptcy and restructuring of a two sample firms according to individual categories of restructuring are presented in this chapter. In picture form are presented median values of indebtedness in processing industry branches.
Another chapter is focused on process of management change in relation to the transformation process. Some problems, important for forming efficient system of corporate governance, are briefly described. An example of problems is e.g. the role of the Fund of National property of the Slovak Republic (FNP SR) in those enterprises, in which FNP SR has capital stake or the question whether owners of enterprises can have positions in executive bodies of these enterprises.
Author comes with a brief evaluation of building and development of capital market. He characterizes general features of financial market in conditions of the Slovak economy. Besides institutional aspects of the Slovak capital market he concentrates on development of trading on the Bratislava Stock Exchange. Presentation of research on investment companies and investment funds from corporate governance perspective and on the problem which model - German of Anglo-Saxon - will prevail supplement this chapter.
Foreign direct investment development is in the center of interest in the last chapter. Based on the fact that a country which have problems with its own financial sources for restructuring is decisive factor of transformation inflow of foreign capital, this part is oriented just on the evaluation of situation in the area of foreign direct investment. Graphs in this chapter describe branch structure of FDI as well as the volume of the biggest investment, structure of investment according to size, regional distribution of investment and structure of FDI according to country of origin.
In the end the author stresses importance of above segments for dynamism of the economy.
Municipal ownership as an equivalent form of ownership is accepted by all the major political forces in the country. But this fact is just a formal and juridical standpoint. In the sphere of financial policy a requirement is often proclaimed that municipal property should be a decisive element in the selfgovernment development. Theoretically, it is possible to think of the use of municipal property either as of the so-called closed minicipal economy or as of the open municipal economy. The paper analyzes potential relations to business activities of minicipalities. The hitherto selfgovernment developments show that municipal property revenues form just about 10-12 % of the total municipality income. The decisive instrument of actual application of the local-government economic power is hold by the state. Public administration (state and local levels of government) was mostly financed by the state government with a minimum scope for the selfgovernments. In the years of 1991-1995 the financial means assured by the state government formed 90 % and those provided by selfgovernments formed just 10 %. The general trend also showed even a stronger centralization of public administration expenses. The state allocation of means to selfgovernment budgets revealed a significantly decreasing tendency. The allocation policy is being understood in a very narrowed way. The goals of the state allocation policy concerning selfgovernments are indicated in the paper. Sometimes it may seem that the absence of a broadly designed allocation state policy towards local governments is even taken for a merit of the present financial policy. It would be incorrect if the lack of financial means of the state budget designed for self-government allocation should be used to reject the inter-connections shown. The main conclusion made in the paper may be drawn: leaving the local government development on the basis of their own resources preferably - on the basis of the municipal property utilization - is not only incorrect but also absolutely unreal.
Intersectional character of tourist trade, its complexity and product complementarity requires to create adequate organization structures in different vertical levels. It seems to be inevitable to differenciate the goals of tourist trade development according to spheres of the Republic, that of regions, towns and villages with respect to primary and secondary offers and to provide them with adequate instruments. The organization structure of tourist industry must be formed in two lines. On the levels of central and that of local governments aimed at creation of prerequisites of interest coordination in the tourist trade development, to work out the state tourist trade policy concept, to formulate its goals and tools, to assure them and to enact them in the law of tourism that, among others, should alot competences to the units interested in tourist trade development and give their tasks an institutional form. In the business sphere, it seems to be inevitable to establish prerequisites for cooperation of business units together with municipalities (towns and villages), namely by recognizing their common interests and a unified business approach to satisfy fully the tourists; needs and requirements and to reach the prosperity of enterprises, towns and villages, regions and the state. Organization structure is a component of management conception, and therefore it forms a dynamic system that must be adjusted to changes in conditions of tourist trade operation.
The first part of the paper describes the role of mercantilism as a
theory and policy. Its connection with the absolutis monarchy is analyzed.
The theory and some representants are described.
The second part is a study of cameral sciences, cameralism and cameralistics. The situation in Germany and the Habsburg Empire which led to development of cameral sciences is shown. Cameral sciences are defined as a "set of practical knowledge, necessary for administration of the princeps treasury". Some common features and differences with the mercantilist theory are introduced.
Main representatives from Austria and Germany, their work and results are shortly analyzed. Main attention is given to the work of J. Sonnenfels, the first professor of cameral sciences in Vienna (1763). In 1807 a textbook of Wolfgang Beke appeared, partly as latin translation of the Sonnenfels' book. These books are analyzed in order to show main features of cameral sciences.
At the university of Trnava a department of policy and cameral sciences was established in 1769. A. Weisengruber, G. Pál de Ehrenfels and F. Gyurkovics followed one another as professors but in 1777 the university moved to Buda.
In Prague the professor of cameral sciences since 1766 was J. I. Butschek.
The Collegium Oeconomicum worked in Senec from 1763 till 1776. After 1777 two state-owned Schools of Law functioned in Bratislava and Košice.
In the last part of the paper some general tendencies in economic science are analyzed with regard to problems of their practical and theoretical orientation.
The study presents an analytical view upon the changes of the living
conditions of households of the Slovak republic in its continual development
since 1989. The analysis concentrates upon the level and structure of net
households' monetary incomes. In spite of the fact that in the year of
1994 a positive breakpoint in macroeconomic indicators is registered, real
household expenditures show further decline and the portion of expenses
needed to meet basic requirements forms ever increasing part of family
budget. Food consumption expenditures make more than a third in the family
budget consumption structure. Compared with 1989 the expenses on dwelling,
personal needs and health services also increased substantially. This increase
was compensated by the decrease of expenditures registered almost in all
the remaining items.
The paper evaluates the changes in real situation of living conditions both on the average household level and the individual socio-economic household groups, such as workers, the employed, selfemployed, farmers and pensioners. A special attention in also given to low-earning households and to comparison of the living standard registered in the Slovak and in the Czech republics.
The analysis is based upon primary data given by family budget statistics since 1989 to 1994; individual household expenditures are aggregated into the groups that are comparable with the European Bureau of Statistics Eurostat classification.