F62 - Economic Impacts of Globalization: Macroeconomic ImpactsNávrat zpět

This paper examines the profound effects of the COVID-19 pandemic on South Korean society, particularly focusing on the economic repercussions of a shock in energy use efficiency from Q1 2020 to Q3 2023. Employing advanced Bayesian estimation and impulse response function methods, the study reveals that enhanced energy use efficiency significantly boosts key economic metrics, including output, consumption, employment, energy use, real wages and investment. Additionally, an increase in real money holdings and a decrease in both deposit and loan interest rates are observed. The analysis further explores the impact of monetary policy adjustments made by South Korea to mitigate the economic challenges posed by the pandemic. Our results indicate that these policy shifts temporarily elevate the aforementioned economic variables and raise deposit and loan interest rates, despite a concurrent reduction in real wages. The findings provide critical insights for policy formulation and economic recovery strategies in the context of global health crises.

Current global trends belong to important branches of economic research. This article discusses changes among different parts of the world: do these changes increase or decrease over time? Are convergent trends more important within the global system than the divergent ones or vice versa? Changes are examined on the base of so-called world's macro-regions over the period 1970-2018, when the bipolar world has changed into a unipolar one and is currently moving towards multipolarity. The study aims to determine which global processes show divergent/convergent trends using different methodological approaches. It also discusses and explains the changing character of trends over time. The authors reach conclusions that exclude one-sidedness of the observed development trends, which derive from the multiplicity of factors influencing them.

Input-output models allow quantification of direct and indirect linkages in the structure of an economy. Based on these linkages, it is possible to evaluate in details the effects of various sectors on the national economy. This paper focuses on the exporting sectors that are considered to be the main industries of Slovak economy. Its aim is to examine their direct and indirect impacts on Slovakia's economy. From the point of view of assessing the effects and structural links of export industries for the Slovak economy, the computer, electronic and optical product manufacturing sector appears to be relatively the least important sector. The automobile production does not generate a high value added per unit of production but its importance for Slovak production is significant. From the point of view of demand and supply linkages, none of the monitored export sectors seemed to be the key for Slovak economy.

Using the database of logistics performance of countries in the period 2007-2016, we study the convergence of countries in terms of logistics performance across the world, the European Union and V4. In comparison with other beta-convergence studies using the OLS estimation method, we also implement a conditional quantile regression (Koenker and Bassett, 1978). The use of the quantile regression allows us to study the convergence of countries not only from the point of view of the average, but also from the perspective of different quantiles of conditional distribution. We identify countries with different leveles of convergence and quantify different levels of convergence across countries of the world. The results provide empirical evidence of the logistics convergence of countries across the world, and also demonstrate that the countries of the European Union and V4 achieve a higher level of convergence than the average convergence of countries across the world during the review period.

Despite the tax coordination and harmonisation, as the tax burden convergence processes, the corporate taxation systems differ among EU Member States, which can affect the development of economies to various degrees. The main objective of the paper is to assess whether the EU-27 countries are competitive in the field of corporate taxation and to verify whether "new Member States" are considered more competitive than the "old Member States". Empirical research from 2004 to 2014 used traditional quantitative indicators and specific quantitative methods in the form of tax rate relations, cluster analysis and constant market shares method, the application of which in the tax field is one of the main benefits of the research. Empirical results have highlighted the significant and positive impact of tax competitiveness on growth of corporate earnings growth. It has also shown that tax competition among countries is not clearly associated with a decrease in tax rates and will persist unless harmonization efforts are successful.