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Some thoughts on the repayment methods of Hungarian household forex loans
17-23Views:330Nowadays the volatility of exchange rates and the macroeconomic changes strongly affect the monthly instalments of the debtors. The growth of delayed forex loans - mostly denominated in Swiss Franc and Euro - can include a high risk, which as a part of a vicious circle can ruin Hungary’s economic situation and even the country’s external judgement. Steps were taken to handle the problem of the forex loans but their result is questionable. In this paper different repayment methods are compared in different economic scenarios. More precisely, the third edition of exchange-rate barrier and income based repayment are analysed in an optimistic realistic and pessimistic scenario. This article is aiming to quantify and interpret the difference between each repayment methods regarding different scenarios. Based on the results suggestions are made how to eliminate efficiently currency exposure from the continuously deteriorating portfolio.
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Challenges to sustainable rural development in Russia: social issues and regional divergences
45-51Views:391Paper aims at investigation of contemporary approaches to sustainable rural development in Russia. It includes the overview of current experiences in rural development, analysis of major economic and social indicators of rural areas in comparison with urban ones. Analysis included the set of indicators such as number of rural people, number of rural settlements, rates of births and mortalities, natural and migration increases and declines of population, rates of employment and unemployment, average monthly nominal per capita wages, and level of the subsistence minimum. Indicators have been measured separately for rural and urban areas; regions have been grouped in relation to the particular indicator. The research is concluded by discovery of growth points for rural development and a set of recommendations on perspective measures of state and local policies in rural areas, directed on increase of living standards of rural population and retention of labour resources in their traditional rural areas of inhabitation.
JEL: Q18, P25
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Future role of agriculture in multifunctional development of rural areas
135-143Views:283In the paper the changes in agriculture in terms of falling share of agriculture in gross domestic product and decrease in the share of persons employed in agriculture in total employment in Poland and selected countries are discussed.The main driver of these changes is a faster pace of development of non-agricultural activities and continually deteriorating relations between the costs of production factors and prices of agricultural products. The rate of growth in labor costs and prices of the means of production for agriculture is much faster than the rate of increase in prices of agricultural products. This causes the decline in profitability of agricultural production which in creases the size of farms. The pace is dependent on the level of economic development of the country. The study also identified trends in the structure of farms, functions and systems of agriculture in the generational perspective.The polarization of the farms will deepen.A strong group of commodity farms and a group of so-called self – subsistence social farms will emerge. Agriculture in Poland will have a dual nature. In addition to the production function and social services agriculture will expand the scope of service functions for the environment and society.
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Demographic and lifestyle attributes with a fundamental role in food supplement consumption (exploratory research)
181-185Views:346The worldwide proportion of food supplement consumers has been steadily increasing, more than 50% of the Hungarian population tends to buy at least one type of dietary supplement. In most cases, the purchase and consumption of food supplements are not based on medical indications but depends on consumers’ individual decisions. The study of consumer groups enables the investigation of typicalities which have an impact on attitudes related to the consumption of food additives. The present study explores the demographical factors determining the global consumption of dietary supplements by secondary research. It sought to explore the typical features of consumer lifestyles in line with the research findings, based on previously specified criteria, through qualitative focus group examinations. My study focused on subjects who bought and purchased at least one type of food supplement in the previous year and placed a high emphasis on healthy diet and lifestyle in their everyday lives. The consumption of dietary supplements indicates growth with age and it is more common among women. Consumers with higher qualifications and incomes tend to buy products with vitamins and minerals in a greater proportion. The identification of nutrition factors revealed that the proportion of those who do not need extra nutrient intake is high among food supplement consumers. It is primarily true of women having a healthy lifestyle (they typically consume high amounts of vegetables and fruits, they are physically active, non-smokers and do not use alcohol); moreover, their socio-economic status is typically high. The findings of my quantitative research suggest that the purchase and consumption of dietary supplements are most characteristic of the “Successful”, “Quality oriented- successful” and “Loyal to the brand - modest” groups in the lifestyle-based consumer segments. The investigated sample showed ambiguous attitudes towards product quality and willingness to pay in all the three batches. Nevertheless, it can be established, when consumers buy food supplements, brand sensitivity proves to be a dominant factor in addition to - typically Hungarian - price sensitivity. Based on lifestyle factors, the current research may bring us closer to the exploration of the motivational and attitude patterns of consumers’ food supplement purchases.
JEL Code: I12, M31
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The new strategic directions of rural development in Hungary
143-150Views:322The notion of sustainability is the basis for our future possibilities. Local sustainability, in the centre of which can be found the livable settlement, is especially important in rural areas.Without developing rural areas, there is no developing society. The growth of the Earth’s population and the world economy has already surpassed the carrying capacity of this planet which may result in an “overshoot and collapse”. This can still be prevented today. The population of towns and cities is rapidly increasing. Urbanization is a very fast process, even in Hungary. In large cities with millions of inhabitants crime and lumpen lifestyle pose huge problems. However, the bases of a successful economy are morals and a puritan lifestyle, which so far have characterized rural villages. 70% of the poor and needy live in rural areas in the developing countries and agriculture provides livelihood for 40% of the world’s population. The International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD) was established in 2002 by FAO and theWorld Bank to learn more about the role of agricultural science and technology. After the positive decision some comprehensive summaries were made on all the related topics with the participation of 400 scientists. The assessment provided many lessons to learn and at the 2008 closing sessions in Johannesburg, the reports were accepted and it was proved that rural areas have a significant role in providing adequate means of earning a livelihood. The Ministry of Rural Development composed a domestic-level study with the title of the National Rural Strategy. The objectives stated in the study can be seen as the main directions of the Hungarian rural strategy. The land policy aims to support the 50–70 hectare family farms and have the agricultural lands under national authority. The population must be provided with ample and safe food. The priority of local economy, local sale, and local markets is important. The positive exploitation of our natural resources may result in the strengthening of rural areas. The deterioration of rural areas must be stopped. In order to halt these processes swiftly fundamental, patriotic economic and social policy changes, a strong people’s party, a short-run crisis treating and a medium-long-run strategic development and action plan are needed which is based on the respect of work and moral norms, national cooperation, solidarity, and the defense of our mutual interests rather than on speculation (ÁNGYÁN, 2010). The greatest problem of Hungary is low employment.Workplaces may be created in the least expensive and the fastest manner in irrigational agriculture. In order to achieve this, the role of the state must be reconsidered and EU rules on state intervention must be reviewed.
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Education for rural development and agribusiness in post-socialist Slovakia
133-137Views:294Agricultural education and training in the former Czechoslovakia has traditionally focused on fostering the position of cooperatives and state farms. The destruction of socialist agriculture and the reduction of commuting opportunities in the urban space during the transition have resulted in the handicapped socio-economic position of the Slovak countryside and its population. The role of education and training in fostering agribusiness growth and rural development could therefore become a crucial strategy. The aim of this article is to analyse the current state of education and training for agribusiness and for rural development in Slovakia using the methods of literature research and document analysis. The article interprets general trends in the development of adult education in Slovakia during the transition period. The main priorities and perspectives formulated in the national strategy for education in agriculture (for the period 2007-2013) are discussed in the mentioned context. With a focus on the leading role of the Slovak University of Agriculture in Nitra, the paper assesses the current status of formal and further agricultural education and training offered in academic and other educational institutions. The paper concludes by discussing implications, recommendations and challenges for developing education and training initiatives for agribusiness and rural development.
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The relevance of sports financing
19-22Views:440According to estimations sports exploit approximately two percent of world GDP. In addition sports represent an important function in culture, socialization and also in education, act an outstanding role in economy, as well, though academic researchers cannot find positive relationship between sports financing and economic growth. Sports were originally civil actions, with non-profit nature, where they did not aspire to reach high returns, but fulfilment of sport itself. However returns can be realized and reinvested in sports. This paper tries to collect the different aspects of sports financing in order to highlight its relevance.
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THE EFFECT OF FARMER BUSINESS SCHOOL ON HOUSEHOLD WELFARE: EVIDENCE FROM COCOA FARMERS IN ATWIMA NWABIAGYA NORTH DISTRICT, GHANA
Views:375Farmer Business School (FBS) is an educational programme aimed at improving the knowledge and skills of farmers in various aspects of agriculture, including financial management and marketing. The purpose of the paper is to examine the effect of FBS on household welfare among cocoa producers in the Atwima Nwabiagya North District of Ghana. Data was collected from a sample of 330 cocoa farmers, 200 of which participated in the FBS programme and 103 who did not. The study employed a range of statistical techniques to investigate the effect of FBS on cocoa growers, thus, independent samples t-test, binary probit model, Kendall's Coefficient of Concordance and perception index. The results of the study suggest that involvement in the FBS programme has a positive significant influence on household welfare. Cocoa farmers who participated in the programme experienced a significant increase in income and yield, as well as improved overall well-being against those who didn't take part. The research's findings offer evidence that FBS programmes can play a vital role in enhancing the welfare of farmers, particularly in developing nations where agricultural livelihoods play a crucial role in economic growth and poverty reduction. The study highlights the importance of investing in education and training programmes for farmers to improve their skills, knowledge, and overall well-being.
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Trends in agriculture and food production
99-110Views:307Agricultural reform resulted a shift from collective farming to small-scale production in China. This reform also has resulted a strong increase in gross agricultural output, which coincides with a slower increase in labour productivity. At the beginning of the reforms, agriculture accounted for 70 percent of total employment in China and still employs more than 50%. As a result of these reforms, China has undergone impressive economic growth also in the agriculture; the country has become one of the world’s top exporters and is attracting record amounts of foreign investment. The government has also stepped up investments in rural areas to meet the market demand for agricultural products. Results are very competitive compared to Central and Eastern European countries, where agriculture accounted for only 15 percent of total employment, but agricultural reform resulted a strong decline in gross agricultural output, which coincides with a similarly strong decline in employment. When approaching the issue of sustainable agriculture, we have to take into consideration, which China and India feed the largest populations in the world and both countries have had its own agricultural successes in the past 50 years. China has used land far more efficiently than many developed countries. With nine percent of the world’s arable land, China is responsible for the greatest share of agricultural production worldwide. Volume of produced pork, eggs, wheat, cotton, tobacco, and rice has increased and China exports an increasing amount of product each year. China has opened his borders, but do not expose food consumers to price shocks and producers to risks and disincentives. In this paper, the land-tenure system and the trends of agricultural developments are analysed in China and selected countries of EU.
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Changes in the Relationship Between ICT Use and Economic Development in EU Member States 2010-2016
91-100Views:401In this study, we examined some ICT indicators of the EU Member States between 2010 and 2016 based on data of the World Bank and Eurostat. We wanted to know, how can the EU Member States be grouped according to these indicators, and which group can Hungary belong to. With the help of international literature reviews, three indicators were chosen. According to these we created three groups (underdeveloped, developing, developed) with the K-Mean cluster method that is classified by their level of development. Interesting changes took place during the period under review. By the end of the analyzed period, six countries lost their “developed” rating among others some founding members. There were also interesting changes in the clusters. The value of some indicators increased more than 40% in some cases, surprisingly, only in one case measured reduction. The proportion of ICT specialists decreased in developing countries (by 1%). The highest growth rate was observed in the developed countries in e-commerce. Because of the high proportion of ICT professionals and the share of e-commerce in the developed cluster we assumed that service would be the dominant sector. The two-sample t-test did not confirm our hypothesis. We supposed the focus in developing countries will be on the industry, due we think the developed countries started to outsource their SSCs (shared service centers) to less developed countries. With the help of a statistical indicator, we confirmed our assumption, but the result not so convincing since the significant level is only 11%. Although we thought that the underdeveloped group of countries was based on agriculture, statistical studies did not support our hypothesis.
JEL Classification: O13, O14, O52
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Future role of agriculture in multifunctional development of rural areas
29-37Views:278In the paper the changes in agriculture in terms of falling share of agriculture in gross domestic product and decrease in the share of persons employed in agriculture in total employment in Poland and selected countries are discussed.The main driver of these changes is a faster pace of development of non-agricultural activities and continually deteriorating relations between the costs of production factors and prices of agricultural products. The rate of growth in labor costs and prices of the means of production for agriculture is much faster than the rate of increase in prices of agricultural products.This causes the decline in profitability of agricultural production which increases the size of farms. The pace is dependent on the level of economic development of the country. The study also identified trends in the structure of farms, functions and systems of agriculture in the generational perspective. The polarization of the farms will deepen.A strong group of commodity farms and a group of so-called self – subsistence social farms will emerge. Agriculture in Poland will have a dual nature. In addition to the production function and social services agriculture will expand the scope of service functions for the environment and society.
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The most relevant factors and trends in energy cooperation between Kazakhstan and China, focused on renewable energy sources (RES)
Views:842This paper analyses the good political and legal environments, mutually beneficial strategic policy, along with level of economic development and growth, superior geographical conditions and cultural integration degree of the important effecting factors of the energy cooperation between Kazakhstan and China. By using the main points listed above this article refers to related trade and investment theories, and it’s divided into two aspects: Kazakhstan's export of Chinese energy products with time series data 1998-2014 and China's investment in Kazakhstan's energy sector with time series data 1998-2016 to construct the vector autoregressive model (VAR).We selected relevant variables and data to construct an econometric model from the perspectives of trade and investment to make an empirical analysis on the influencing factors of energy cooperation between Kazakhstan and China. Our results show that China's demand for large-scale market and for opening to the outside world as well as Kazakhstan’s great energy potential are the most important factors their cooperation. It can be stated that in our days Kazakh legislation is suitable for promoting the Chinese energy investments, but in the long run it would be beneficial to mobilize national capital especially in RES investments and research. In the end, we found the most important reserves in competitiveness of electricity and heat (both from fossil and renewable energy sources) are power grid consolidation and waste heat utilization in the short run.
JEL CODE: F14; Q43
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KNOWLEDGE AND PERCEPTION OF LIBERIAN AGRIBUSINESSES IN THE AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
Views:282Liberia has signed and ratified AfCFTA and is pending deposit with the African Union Commission. The objective of the paper thus is to examine the knowledge, and perception of Liberian agribusinesses on AfCFTA. The primary data were obtained from four (4) main categories of stakeholders in Liberia’s economic growth and development. They included (i) agribusiness enterprises/agricultural micro-small- and medium-sized enterprises operating in Monrovia; (ii) apex business entities/associations; (iii) government actors and (iv) partnerships in trade and development in Liberia. Findings from engagements with agribusinesses revealed that even though few respondents had a fair understanding of the Rules of Origin protocol, central to trading under AfCFTA, most of the respondents knew or had heard about the AfCFTA and mostly associated AfCFTA with creating one African market. Concentration on AfCFTA in Liberia should not only be on the removal of tariffs as the removal of tariffs is perceived by agribusiness as bad.
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