The price of electricity at the wholesale stage has yet to be equalized across the Member States in spite of ten years of uninterrupted functioning of the EU market in this economic sector. Having in mind increased Slovenian import dependency following the possible closure of the Velenje Coal Mine and the Šoštanj Thermal Power Plant, potential exports of electricity to Slovenia can be expected only from Germany and the Czech Republic. At the time of the possible closure of the Velenje Coal Mine and the Šoštanj Thermal Power Plant, as well as the termination of the subsidies of cost-inefficient electric power production, the electricity prices in Slovenia for one third of this commodity supply would rise to a level to cover the cost of electricity production with a conventional gas steam turbine (the marginal producer). Calculated at the price of electricity produced in Šoštanj Thermal Power Plant it means average increase in price for 39 €/MWh. Higher prices of electricity would affect the performance and capacity of the Slovenian economy while bringing a reduction of real household income along with an annual decline in Slovenian GDP by 118 million euros (0.4%), general government revenue by 44 million euros and exports by 85 million euros. At the same time, Slovenia would stand to lose around 2,700 jobs and the consumer price level would rise by 0.4%.
COBISS.SI-ID: 528514841
The paper focuses on transport infrastructure as one of the main drivers of economic growth. While this is a widely accepted view, the aim of this paper is to challenge it by analyzing 657 estimates from 48 production function studies. Our results confirm a positive yet small average output elasticity of transport network, but further add to the literature by showing that the marginal returns of transport infrastructure have been falling since 1950s, especially in the USA and China, while the output elasticities in Europe have been stable but low throughout the entire period. Furthermore, the paper reviews studies on the effects of new roads on firm-level performance, and concludes, based on the evidence of small marginal returns of transport infrastructure on both macro- and micro-economic level, that a much more targeted approach to public investment in transport infrastructure is needed, at least in the developed countries.
COBISS.SI-ID: 25222886
The study investigates the impact of cross-border mergers and acquisitions on GDP per capita and domestic investment in 22 European transition countries by using the system Generalized Method of Moments estimator. The main implications are that cross-border mergers and acquisitions have a negative effect on GDP per capita in the year of merger or acquisition, while their lagged level shows a positive impact. From long-term perspective, this type of FDI has negative and significant effect on GDP per capita. The results show that one-year lagged cross-border mergers and acquisitions positively affects domestic investment, suggesting that spillover effects of this type of investment can be expected not earlier than one year after the merger or acquisition. The value of this paper is that our results show how the advances in structural reforms enhance GDP per capita whereas their influence on domestic investment activity is insignificant. We found that there is insignificant impact of the relationship between overall structural reforms and cross-border mergers and acquisitions on GDP per capita and domestic investment both in short and long run. The originality of this study lies in investigation of the dynamic nature of cross-border mergers and acquisitions and their economic effects depending on the quality of structural reforms.
COBISS.SI-ID: 13045788
In the continental European countries (EU Member States) an increase of the environmental taxes by 1% after one year leads to a 0.13% reduction in the amount of deposited waste per capita. Across the entire business sector and the construction industry this effect is the greatest for the tax on energy used, as well as for the taxes and charges on pollution and the use of natural resources. An increase for 1% in taxes on transport yields a 0.5% reduction in emissions of CO2, and an increase in energy taxes of 1% after one year yields a 0.13% decline in emissions of CO2. When a technological and economic opportunity adapt to changed environmental tax rates, as is the case for the landfill tax, increased tax rates leads to sharp pollution reduction and thus have a limited fiscal effect.
COBISS.SI-ID: 5738795
The study describes the origin, causes and consequences of banking crises, summarizes proposals for solutions and shows the development of the banking sector in Slovenia from independence to the present day. The characteristics of banks with a mission and small banks are given - as the foundations of the transition to good banking. Weaknesses of incomplete application of the neoclassical model in banking, weaknesses of bankers' culture, corporate governance of banks, monopoly banking market and sector, including the abuse of digitalization, are highlighted. An important part of the study is the description of the implications of banking reform in the world for the banking sector in Slovenia. In conclusion, the main measures for the recovery of banks are given and the constitutive elements of good banking are presented.
COBISS.SI-ID: 294726400