High skills pay off: the changing wage structure during economic transition in Poland

Economic transition turns the inherited wage structure upside down. Changes are rapid and dramatic. The Polish example shows that even in the first year of market-oriented reforms, there was a marked increase in earnings inequality, a dramatic rise in the wage premium for white-collar skills, and a significant jump in the returns to education. In contrast, skills acquired under the old system lost their value. It is younger workers who are rewarded with higher wages. The changes are spearheaded by the private sector, where inequalities and the educational premium are higher than in the public sector. Privatization, thus, has its social aspects in that it strengthens the incentive for human capital investment. This paper documents these changes and sets out possible explanations.     

波兰经济转轨概观(1989-2000)

从1989年开始,波兰采用"休克疗法"式的改革,对国有经济实行快速私有化,成功地进行了经济转轨,使波兰的经济增长速度不断加快,综合国力显著提高,取得了良好的经济效果.波兰现已成为中东欧地区经济转轨最成功的国家.     

Ranking professional forecasters by the predictive power of their narratives

This article presents the first ever ranking of professional forecasters based on the predictive power of the narrative of their regular research reports. The ranking is generated by applying the fully automated four-step procedure – called NLP-ForRank – developed in this article. The four steps are data scraping from the internet; data preparation; application of the natural language processing (NLP) models; and evaluation of the predictive power of the NLP indexes with linear regression, Granger causality, vector autoregression (VAR), and random forest forecasting models. Applying this procedure to five large Polish banks and to many time series shows that including the constructed NLP indexes in the forecasting models lowers the forecast errors, and that the optimal model almost always contains the NLP index. The financial news agencies could consider publishing this type of ranking on a regular basis as it would foster accountability, transparency, and a more competitive environment in the professional forecasting industry.     

Internationalization of Japanese Multinational Corporations in Central and Eastern Europe

Abstract

The paper focuses on the internationalization activities of Japanese MNCs in Central and Eastern Europe (CEE) analyzing data on national level considering Japan's modes of market entry in the CEE region and some of the countries in it. Major trends and the development of Japanese internationalization in CEE are presented. Individual mini case studies contribute to the analysis using the experience of several major Japanese MNCs that have invested in the region. The goal of the paper is to uncover the specifics of the internationalization process of Japanese corporations in the CEE region. Main characteristics of the penetration of Japanese MNCs in CEE are unveiled and discussed in the concluding part of the paper. The management implications and conclusions from the study are discussed further in the final part of the paper.     

Megamarketing

Abstract

Recent political, economic, and social changes occurring in Eastern Europe are providing opportunities for Western firms to expand to this region. This study presents evidence on the wealth effects associated with expansion by U.S. firms to Eastern European countries. The results of this study show that differential wealth effects are associated with announcements of different modes of expansion, and with country of expansion. The results suggest that Hungary and Poland are important for expansion to Eastern Europe, and that joint ventures should be the preferred mode of expansion for U.S. firms seeking to expand to Eastern Europe. The results also suggest that investors are able to discern between different levels of country risk.     

Going steerage on Ryanair: cultures of migrant air travel between Poland and the UK

One of the most high profile migration movements to the UK in recent years has undoubtedly been that of A8, and mainly Polish, newcomers following the 2004 expansion of the EU. Accompanying, and perhaps fuelling, this increase in mobility has been a substantial rise in low cost air travel provision. The UK Civil Aviation Authority and the Civil Aviation Office of the Republic of Poland statistics testify to the expansion in passenger numbers between Poland and the UK since 2004, with Ryanair being one of the main carriers. Although other modes of transport, such as coach and car travel, are still important, in some senses these Ryanair flights define this new migration. Taking as a starting point that airports and airplanes are social and cultural venues in their own right, and that migration journeys are themselves at the heart of the migration experience, this article uses interviews with Polish migrants in the UK to consider this low cost air travel for migration in more depth. Firstly it briefly charts the increase in air travel between Poland and the UK, considering the narratives of mobility cultures collected with the migrants. Secondly it investigates the collective dimension of travelling for migration on these flights and the tensions which emerge around this collectivity. Finally, it reflects on the wider costs and contexts of low cost shuttle flights as a late capitalist mode of migration transport.     

Belarus,A Rising Economy

The Republic of Belarus is situated in the heart of Europe,in the East the Republic borders the Russian Federation,in the South the Ukraine,in the West Poland,and in the North Lithuania and Latvia.Belarus is the gateway between Asia and Europe,