Ekonomia i Prawo. Economics and Law https://apcz.umk.pl/EiP <div id="rt-content-bottom"><div class="rt-grid-8 rt-alpha rt-omega"><div class="rt-block box2"><div class="module-surround"><div class="module-content"><div class="custombox2"><p class="text3"><span class="italic_black">Ekonomia i Prawo. Economics and Law</span> is a quarterly double-blind peer-reviewed journal published in print and online on an open access basis. The aim of the journal is to create a solid plane of communication between economists and lawyers in the process of influencing the shape of the state’s institutional order. The topics of scientific articles published in the journal focuses on theoretical and empirical research in the following disciplines:</p><ul id="u84716-12" class="list0 nls-None"><li class="text3">Economics (development economics, economic history, financial economics, institutional economics, international economics, labour economics, mathematical economics, monetary economics, non-market economics, public finance, welfare economics);</li><li class="text3">Finances;</li><li class="text3">Law.</li></ul><br /><span>Journal is covered in </span><a class="nonblock" href="http://mjl.clarivate.com/cgi-bin/jrnlst/jlresults.cgi?PC=EX&amp;ISSN=*1898-2255" target="_blank">Emerging Sources Citation Index (Web of Science Core Collection)</a><span>.</span><br /><img src="/czasopisma/public/site/images/ipietryka/esci3.png" alt="" /></div></div></div></div></div></div> Uniwersytet Mikołaja Kopernika w Toruniu en-US Ekonomia i Prawo. Economics and Law 1898-2255 Views of Joseph E. Stiglitz on the role and scope of the state’s influence on the economy against the background of previous views https://apcz.umk.pl/EiP/article/view/EiP.2021.001 <p align="center">Motivation: In the history of economic thought up to now, one of the topics causing the fiercest disputes was the role of the state and the market in economic life. The creators of the oldest concepts suggested that the state should steer the economy. Since the beginning of the 18<sup>th</sup> century, the supporters of laissez-faire, the invisible hand of the market, and the auctioneer have been getting more and more respect. Their creators argued that the free market works efficiently and effectively. These views were undermined by the Great Depression. In response to the deep recession, Keynesianism was created, which led to the radicalization of supporters of a strong state on the one hand, and an unhampered market on the other.</p><p align="center">Aim: The aim of this article is to present in a synthetic way the evolution of views on the resource allocation mechanism in the economy. The research problem can be contained in three questions: How have theoretical views on the role of the state and the market in the economy evolved? Which views remain relevant? What is Joseph E. Stiglitz’s contribution to the discussion on the state-market relationship?</p><p align="center">Result: An innovative solution was proposed by Joseph E. Stiglitz. He pointed out that the state and the market should not be opposed as mechanisms for coordinating economic activity. He was in favour of developing ways of cooperation between the state and the market in order to ensure the effective functioning of modern economies that are mixed economies. This solution has rendered out of date the existing dispute between supporters of interventionism and laissez-faire.</p><p align="center"> </p> Mirosław Bochenek Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 5 19 10.12775/EiP.2021.001 The quality of formal institutional subsystems of OECD countries https://apcz.umk.pl/EiP/article/view/EiP.2021.002 <p align="center">Motivation: Institutions are the core element of every economic system. Institutions condition all economic, social and political relations within the economy. They are universal. There is no doubt that a non-institutional analysis of contemporary economies is incomplete. The subject of this article are subsystems of formal institutions of OECD countries. This paper is an attempt to supplement contemporary economics with a structural model of formal institutional environments.</p><p align="center">Aim: The purpose of the article is to assess the quality of formal institutions of OECD economies and to identify the most important groups of institutions that shape the formal institutional environment of modern economies. A research hypothesis was adopted, stating that the quality of property rights has the strongest positive impact on the quality of formal institutional subsystems.</p><p align="center">Results: The analysis of the literature allowed the indication of the importance of (especially formal) institutions in the economy. The constructed soft model allowed for positive hypothesis verification. As it turns out, the quality of formal institutions is positively influenced by all three separate groups of formal institutions, but institutions of property rights are of the greatest importance.</p> Mateusz Borkowski Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 21 44 10.12775/EiP.2021.002 An assessment of bank safety of the Polish listed banks based on the integrated index for bank safety: empirical study https://apcz.umk.pl/EiP/article/view/EiP.2021.003 <p align="center">Motivation: Safety is a key requirement in banking operations. However, it is difficult to maintain and measure through the significant variety and number of the determining factors. No uniform safety measure has been introduced so far that would allow to determine the level of safety and answer the question whether a bank is safe.</p><p align="center">Aim: The aim of this paper is to parameterize the bank safety level from the perspective of internal determinants. For this purpose, the author proposes a new synthetic measure — an integrated index for bank safety (IIBS index), which is universal and allows for an assessment of the bank safety level in terms of capital adequacy, liquidity situation, degree of financial leverage and the size of capital buffers. The objective of the empirical study is to measure the safety level of 12 Polish listed banks in 2019 year and differentiate them according to their level of safety.</p><p align="center">Results: In the empirical part, an attempt was made to measure the safety level of Polish listed banks in 2019 year. The study covers the 12 Polish listed banks on Bank Focus database and a financial statement review for 2019 year. The analyzed banks were differentiated according to their safety level. Furthermore, the most and the least secure banks were identified, as well as banks that did not meet the minimum regulatory requirements. Results of empirical study, namely the evaluation of bank safety level, will increase the trust the stakeholders have on the banking sector.</p> Ivanna Chaikovska Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-30 2021-03-30 20 1 45 61 10.12775/EiP.2021.003 Sectoral structure of employment and economic cohesion in the EU regions https://apcz.umk.pl/EiP/article/view/EiP.2021.004 <p align="center">Motivation: Regional cohesion constitutes an important aim of European policy. Nevertheless, it is mainly assessed in terms of economic results analyzed at an aggregate level. Sectoral determinants of interregional differences are often neglected. However, as the structural convergence concept suggests, sectoral features may be decisive for minimizing interregional disparities.</p><p align="center">Aim: The paper searches for connections between two dimensions of economic regional cohesion in the EU: economic results and structural features. It tests a hypothesis about the coexistence of high diversification in GDP per capita and in the sectoral structures of employment. It is also aimed at identification of sectoral features that characterize the best performing economies.</p><p align="center">Results: The research results confirm a positive correlation between interregional differences in production and in sectoral structures. It indicates knowledge-intensive market services as a sector the most favorable for economic results. Moreover, it also finds that a high concentration of sectoral structures coexists with a high level of regional GDP per capita and economic efficiency.</p> Magdalena Cyrek Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 63 77 10.12775/EiP.2021.004 Non-financial goals of municipal Social Housing Associations in managing the communal housing system https://apcz.umk.pl/EiP/article/view/EiP.2021.005 <p align="center">Motivation: Social rental housing is an important sector of the housing system aimed at meeting the housing needs of people whose economic strength does not allow them to purchase or rent real estate on the free market, and who at the same time do not qualify for social assistance in the form of the right to rent a municipal flat. In Poland, Social Housing Associations (hereinafter: SHAs; abbreviated and known in Poland as TBS) are the institutional form of this construction industry. SHAs, which are established by municipalities, play an important role in shaping the housing policy thanks to institutional possibilities allowing for the construction and renting of apartments, real estate management on the basis of commission contracts, or acting as a substitute investor.</p><p align="center">Aim: The aim of the article is to analyse the assumptions of the activities of municipal SHAs. As part of the research, the types of non-financial aims in the provisions of company agreements were examined, in particular according to the criterion of their going beyond the “pure” activity of SHAs, which is the construction and operation of apartments on the basis of lease. The article identifies the optimal selection of non-financial goals covering the areas of managing the housing stock and green areas in its vicinity and managing housing communities.</p><p align="center">Results: Thanks to the analysis of the provisions of the companies’ agreements of 62 municipal SHAs, it was found that the vast majority of them had non-financial goals that allow for complementary activities in the implementation of the municipal policy. The author managed to distinguish groups of provisions that could serve the implementation of the municipal policy in the field of housing, public property management, spatial order and greenery management.</p> Michał Dziadkiewicz Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 79 89 10.12775/EiP.2021.005 The importance of municipal tax policy in shaping forest tax revenues in Poland https://apcz.umk.pl/EiP/article/view/EiP.2021.006 <p align="center">Motivation: The subject of interest presented in this study is the problem of forest tax and the respective municipal revenues in the context of the principle of financial independence. It is manifested in the ability of implementing own tax policy, i.e. exerting purposeful influence on the structural elements of taxes by the local authorities aimed at using their functions in an optimal manner. Forest tax as a typical local tax may contribute towards implementing this principle in practice.</p><p align="center">Aim: The study presents the legal structure of forest tax, primarily in the context of the powers granted to municipalities in terms of fiscal power. The main objective of the study is to assess the impact of tax policy implemented by municipalities on the amount and importance of forest tax revenues in the financing structure.</p><p align="center">Results: Comparing to other revenue categories, the fiscal efficiency of tax and its importance in the municipal financing structure remain small (approx. 0.15% of total revenues) and they depend directly on the tax base. It is a derivative of the forest area being the tax base and the structure considered in terms of statutory exemptions and the method of determining the tax rate. Municipal tax policy regarding the forest tax is characterised by a very small activity. A more liberal tax policy is usually associated with a lower tax importance in a municipality, which demonstrates its fiscal stance. Generally, this policy has a marginal impact on the importance of forest tax in the structure of municipal finance.</p> Jarosław Dziuba Elżbieta Życzkowska Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 91 105 10.12775/EiP.2021.006 Regional innovation performance and structural conditions in Central and Eastern Europe: embracing the broad-based innovation concept https://apcz.umk.pl/EiP/article/view/EiP.2021.007 <p align="center">Motivation: There is plenty of evidence suggesting that the (regional) innovation systems in Central and Eastern Europe (CEE) are in their early beginnings and that this poses huge challenges to the implementation of the smart specialization agendas and to the efficient use of the European structural and investment funds in these countries. Our assumption is that structural differences explain to a large extent the differences in innovation performance between the CEE and non-CEE regions and that the future growth trajectories of the CEE regions should more specifically embrace the broad-based innovation concept.</p><p align="center">Aim: Our study attempts to test whether there are statistically significant differences between the CEE and non-CEE regions in each component of the European Regional Innovation Scoreboard and whether such differences can be explained by the variations in structural conditions. To this purpose, we use a discriminant factor analysis and test the correlations between the discriminant function and various structural indicators.</p><p align="center">Results: The R&amp;D-based component of the regional innovation systems discriminates the most between the CEE and the non-CEE regions. In contrast, the differences between the two groups are minimal in terms of Non-R&amp;D innovation expenditure, Tertiary education or Employment in Medium and High-Tech Manufacturing. On the whole, the differences in innovation performance, as reflected by the discriminant function, can be largely attributed to the differences in economic performance (GDP per capita) and in the industrial structures. All these considerations give support for the adoption of the broad-based innovation policy at the CEE level, which goes beyond the R&amp;D investments and gives widespread support to both technological and non-technological innovation, skills upgrading or the integration into international networks and value chains.</p> Mariana Cristina Ganescu Cristina Maria Serbanica Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 107 119 10.12775/EiP.2021.007 Generations on the Polish labor market in the context of competences needed in the economy based on knowledge and 4.0 https://apcz.umk.pl/EiP/article/view/EiP.2021.008 <p align="center">Motivation: The Polish labor market employs employees from four generations, but not all of them have the competences required by the knowledge-based economy and the 4.0 economy. According to the author, adjusting employees’ competences to the requirements of the modern labor market is determined, among others, by specificity of generations. Their features, attitudes, values and job expectations affect competences, which generates quantitative and qualitative changes in the labor market. Therefore, it was decided to check which generations of employees have the competences most appropriate to the needs of these economies.</p><p align="center">Aim: The aim of the paper is to assess the adjustment of competences of four generations of Polish employees to the competences required of employees of the knowledge-based economy and the 4.0 based on a literature review.</p><p align="center">Results: Research results confirm that generations Y and C have competences best suited to the modern labor market. Moreover, they indicate areas of skills shortages that require support in order to adjust the requirements of the labor market. The added value is provided by a self-developed list of differences between the labor markets of the knowledge-based industrial economy and 4.0 (there was no such was not such a broad list comparison in the literature for the three types of economies) and synthetic assessment of the key competences of four of generations of employees in the context of KBE and economy 4.0 based on a literature review.</p> Barbara Kryk Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 121 137 10.12775/EiP.2021.008 Albania as an object and a context of research in economic sciences: bibliometric analysis https://apcz.umk.pl/EiP/article/view/EiP.2021.009 <p align="center">Motivation: In recent years Albania has been an object of amassing research in many subject areas, including those related to economic sciences. Nevertheless, this growing scientific output has not been mapped from the bibliometric perspective. Thus, filling the identified gap in the body of knowledge is motivation for this study.</p><p align="center">Aim: The aim of the paper is to map the conceptual structure of research output in economic sciences with the focus on Albania as an object or a context of scientific inquiry in order to identify and explore leading and emerging topics. The study is oriented to answering the following research questions: (1) What are the leading topics/streams of scientific inquiry in the field? (2) What are the most up-to-date (emerging) topics/streams in the field?</p><p align="center">Results: Analysing co-occurrence of high-frequency keywords of Scopus-indexed publications including phrase ‘Albania’ in their titles, keywords and abstracts leads to identification of seven thematic clusters within the research field: (1) Albania as a transition economy, (2) economic aspects of migration, (3) Western Balkans studies, (4) education and innovation, (5) regional case and comparative studies, (6) economic growth and development, and (7) democratic transition and European integration. Moreover, the analysis reveals the following up-to-date topics attracting recently increasing attention of the academia: European integration, cointegration, consumer preferences, monetary policy, Western Balkans, higher education, performance, developing countries.</p> Andrzej Lis Kreshnik Bello Joanna Górka Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 139 154 10.12775/EiP.2021.009 Socio-demographic determinants of financial exclusion of the unemployed on the local labour market: a case study https://apcz.umk.pl/EiP/article/view/EiP.2021.010 <p align="center">Motivation: People who experience problems accessing financial products and services in a suitable form cannot fully participate in economic and social lives. The groups particularly vulnerable to financial exclusion in the area of banking services and saving products are the unemployed.</p><p align="center">Aim: The aim of the study is to determine the relationship between socio-demographic determinants and selected areas of financial exclusion related to banking usage and the propensity to save. The empirical basis of the issues raised in this article is the study of the literature and the findings of the survey conducted among 350 unemployed persons registered at the Municipal Labour Office in Płock in the period from September to October 2018.</p><p align="center">Results: Education, age, reasons and the period of registration at the labour office exert an impact on the selected areas of financial exclusion of the unemployed regarding the bank usage and the propensity to save. The results of the study indicate that on the local market education was the feature that most determined the degree of banking usage, the refusal to conduct banking services or the propensity to save among the unemployed.</p> Anna Nowacka Mariola Szewczyk-Jarocka Izabela Zawiślińska Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 155 171 10.12775/EiP.2021.010 Globalisation and gender aspects of professional sport: the case of Poland https://apcz.umk.pl/EiP/article/view/EiP.2021.011 <p align="center">Motivation: Globalisation is not only about the mobility of capital and proliferation of global problems. It is also about common approaches in public governance. Modern technologies help to disseminate information on sport as well as raise interests and encourage citizens to engage in sport. Globalisation has made it easier. There is no need to travel — Olympic Games, football matches and various other sports can be watched on TV, with broadcasts offering more insights than live watching on the spot. Globalisation, however, is also seen in various public or grass-root initiatives which, by addressing existing inequalities, support certain groups i.e. women or minorities to help them achieve more equal position in sport.</p><p align="center">Aim: The paper’s aim is to analyse the impact of globalisation (use of modern, digital technologies) on public governance in sport based on the example of Poland. Poland is specific because there exists a strong gender bias and unequal involvement of men and women in professional sport. It translates into financial support. All of the above aspects will be scrutinized.</p><p align="center">Results: The analyses will be based on the available public data on the financing of professional sport as well as achievements in the Olympic Games between the years 1924 and 2016. Moreover, some light will be shed on media coverage of sports events. The applied research methods include a critical literature review and analyses of gathered statistical data. The paper fills in the gap in the existing literature where impact of globalisation on sport in terms of public governance and gender imbalance is not often discussed.</p> Ewa Ślęzak Mariola Mamcarczyk Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 173 189 10.12775/EiP.2021.011 Indexes of migration policy restrictiveness: concept, methodology and application https://apcz.umk.pl/EiP/article/view/EiP.2021.012 <p align="center">Motivation: migration management has become important both in the political debate and academic research. In recent years the interest of researchers in migration policy has significantly increased. As a result, there have been many quantitative studies related to the migration policy.</p><p align="center">Aim: the aim of this paper is to conduct a comparative analysis of the migration policy indexes (including databases on migration policies), as well as to broaden the understanding of the scope and essence of migration policies.</p><p align="center">Results: The indexes of migration (including immigration) restrictiveness are based on various concept of this policy. However, all the indexes of migration (including immigration) restrictiveness are based on de jure migration laws and regulations measures adopted by states (on the national level). The most of indexes of migration (including immigration) policy restrictiveness are based on a set of coded questions relating to these policies. An important factor differencing the migration policy indexes is also the fact that in some analyses relative changes of migration policy were evaluated, but in other studies absolute changes were considered. Concerning to the indexes of immigration restrictiveness, most of them are based on entry and stay regulations. The possible application of indexes in other studies is especially related to the time and geographical scope of these indexes, as well as to their level of detail. Most of the data on migration policies is available mainly for the developed countries, the majority of which belongs to the OECD or the European Union. Some of them allow for the long-term analysis and other for short-term study. For most countries the data is available since the 1980s. Additionally, some of indexes on immigration policy restrictiveness are characterised by relative higher level of detail of the analysis and results are classified for various groups of migrants and type of migration.</p> Katarzyna Woźniak Copyright (c) 2021 Ekonomia i Prawo. Economics and Law 2021-03-31 2021-03-31 20 1 191 207 10.12775/EiP.2021.012