This study examines the causal relationship between economic growth and financial development in Poland on the basis of quarterly data for the period 2000 Q1–2011 Q4. In order to examine the impact of the 2008 financial crisis on the structure of financial sector-GDP links in Poland we...

This paper sought to investigate how economic growth affects the disparity in regional income distribution in Poland and vice versa. The research was based on annual data covering the period 2000–2009. In general, the research was divided into two main parts. First, we wanted to examine the...

This study provides an analysis of causal links between GDP and usage of hard coal in production of metals in Poland. In order to assure the correctness of computations a third variable – employment – was included in the dataset. Linear and nonlinear dynamic interactions were investigated...

Thomas Piketty's "Capital in the 21st century" may be one of the most important recent economics books. It jointly treats theory of growth, functional distribution of income, and interpersonal income inequality. It envisages a future of relatively slow growth with the rising share of capital...

This paper empirically analyzes the impact of budget deficit on the economic development of Romania. Using the OLS estimates for quarterly series for the period from 2001 to 2011, the results of the estimates prove that there is an indirect relationship between budget deficit and economic growth...

The economic literature suggests that the efficient allocation of resources by the financial system speeds up economic development and reduces poverty. However, there are economists who find financial development to be the result of economic growth. This study examines causal relationship...

It is widely believed by development economists that the role of human capital is one of the most fundamental determinants of economic growth. Sustained growth depends on the level of human capital whose stocks increase due to better education, higher levels of health, new learning and training...

In recent years the term “fear of floating” has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has...

Migration is an important component of contemporary society. Leaving the homeland for a better life and a well paid job is currently the most dynamic form of working population movement. For the host countries migration provides experienced cheap workforce capable of high performance. But the...

This paper investigates the impact of the Kolmogorov-Sinai entropy on both the accuracy of probabilistic forecasts and the sluggishness of economic growth. It first posits the Gaussian process Zt (indexed by the Hurst exponent H) as the output of a reflexive dynamic input/output system governed...