Article

 

Motives for FDI in a small EMU member state: The case of Greece (p.11-42)

by

Bitzenis Aristidis , University of Macedonia, Thessaloniki, Greece

Tsitouras Antonis , Project Manager/Accountant/Economist MSc

Vlachos Vasileios A. , University of Macedonia, Thessaloniki, Greece

Keywords : multinational corporations, foreign direct investment, Greece

JEL classification : F21, F23

Abstract

A questionnaire survey covering MNCs that had invested in Greece during the period 1995-2003 is carried out in order to determine the motives for investing in Greece through a phase of increased expectations on foreign investment from hosting the 2004 Olympiad. The underlying assumption made is that the views of the local managers reflect the views of the mother company when deciding to invest. Although the findings represent the time that the investment took place, the influence of the conditions shaping the economic environment at the time the survey was carried out is also discussed. The findings indicate that the primary motives of foreign investors for the period 1995-2003 were those associated with market-seeking and support those of quantitative studies covering recent developments, leading to the conclusion that there is no progress made regarding the factors that enhance FDI attractiveness.

 

 

What can EconLit reveal us about Ukraine’s scholarly production? (p.43-60)

by

Mirucki Jean ,

Nicot Bernadette ,

Poshyvak Maria ,

Keywords : Ukraine, EconLit, S.S.C.I., Scientific production

JEL classification : A140, P210

Abstract

Using the EconLit database, the purpose of this paper is to position the place of economics in Ukraine and its scholarly visibility at the international level. The analysis covers the affiliation of contributing authors, the gender composition, the patterns of collaboration between Ukrainian and foreign economists and a review of the different thematic treated in the articles. Results show that Ukrainian authors have a general profile of co-authorship similar to western practices, a significant proportion of publications from governmental circles, a low female representation and a small number of Ukrainian authors having published in journals also included in the S.S.C.I. database.

 

 

The problems of fair value in small emerging market economies. The case of Slovenia (p.61-81)

by

Duhovnik Metka, Faculty of Economics, University of Ljubljana

Keywords : Fair Value, International Financial Reporting Standards, Emerging Market Economies, Slovenia

JEL classification : M41, O16, O19, P27

Abstract

Decision of the European Commission to make the International Financial Reporting Standards (IFRS) mandatory for the preparation of consolidated accounts of all listed entities within the European Union would create no problem if the IFRS were structured to cover accounting solutions for all levels of capital market development. Since this is not the case, the solutions in the IFRS, raise numerous questions in countries with less developed markets. The article presents the main problems of fair value accounting in the case of the small Slovenian market economy. At the same time, it suggests amendments to the financial reporting framework which would relieve the fair value measurement in emerging market economies.

 

 

Examining the validity of PPP: The black market exchange rate versus official rate (p.83-92)

by

Aslan Alper, University of Erciyes, Faculty of Economics and Administrative Sciences, Department of Economics, Kayseri, Turkey

Kula Ferit, University of Erciyes, Faculty of Economics and Administrative Sciences, Department of Economics, Kayseri, Turkey

Keywords : PPP, Black Market Exchange Rates

JEL classification : F31

Abstract

The long-run purchasing power parity (PPP) hypothesis is re-examined for Turkey by using the black market and official exchange rate through standard (ADF, PP) newer and more powerful tests (KPSS, DF-GLS) for the period 1969M1- 1998 M12. Over all result implies all unit root test support PPP in Turkey. This could be explained by a high similarity with the exchange rate series.

 

 

Debate - Economic Base, Social Classes and Superstructure: Some critical remarks on Stephen A. Resnich & Richard D. Wolff’s, Class Theory and History: Capitalism and Communism in the USSR, London, Routledge, 2002 (p.93-112)

by

Economakis George, University of the Aegean

Keywords : Surplus, modes of production, social classes, superstructure, communism

JEL classification : B14, B24, B51, P10, P16, P20

Abstract

The theoretical purpose of Resnich & Wolf (R&W) in the book under discussion is to demonstrate that the USSR and similar “socialist democracies” were not socialist-communism regimes but regimes of a state capitalist type, regardless of the state ownership of the means of production and the abolition of market economic functions. Although the apperception of the ex-socialist regimes as a state capitalism is a valid one, the concepts that R&W form and apply to it indicate they are rather doubtful, and lead to a turn over of Political Economy to pre-Marxist presumptions and postmodern conceptions in crucial theoretical questions such as the determination of social classes, the class definition of a social structure, the relation (and relevance) between economic base and superstructure.