World Economy and Policy, 2023 (vol. 2023), issue 2

Mapping Agricultural GVC in the European Union

Dominik Kohut

World Economy and Policy 2023, 2023(2):1 | DOI: 10.18267/j.wep.182  

Agriculture represents just a small part of the production and international trade. Although its share is little compared to the manufacturing and services sector, agriculture is still the source of an essential product for humankind - food. One of the trends that changed international trade significantly in recent history was globalization. Global value chains (GVC) affect ways of working, not just in manufacturing sectors. This paper focuses on mapping agricultural GVC in the European Union. General GVC indicators such as backward and forward participation are put in the context of employment, primary production, and productivity in agriculture for...

European perspectives on student mobility and competencies in tertiary education - what we have learned in the past 20 years

Eva Grebe

World Economy and Policy 2023, 2023(2):2 | DOI: 10.18267/j.wep.181  

The author aims to examine the literature on student mobility and competencies in tertiary education with a focus on Europe and analyse the impact of international short-term student mobility on the acquisition of competencies for employability in the 21st-century labour market. The article focuses on the Erasmus program and university education. It examines the relationship between short-term student mobility experiences, the development of soft skills, and their relevance to future employment, providing valuable insights for educational institutions and policymakers. The article highlights the importance of intercultural competencies, collaboration,...

European Union and The Solow Model:Empirical Contribution to Theories of Economic Growth

Kareem Abdallah

World Economy and Policy 2023, 2023(2):3 | DOI: 10.18267/j.wep.185  

The following article deals with the basic Solow model of economic growth for the states of the EU-28 and empirically confirms its conclusions. Based on growth accounting, and by analyzing different determinants of the respective steady states of each country, we confirm the importance of capital accumulation. Moreover, the model confirms the existence of both, the absolute and conditional convergence, due to the relative homogeneity of the EU-28. Furthermore, the model developed implies values of the speed of convergence corresponding to the reality observed. Lastly, the model confirms that the Eastern Enlargement represented an acceleration in absolute...

Spillover Effects from Multinational Enterprises: A Literature Review

Petr Šmelc

World Economy and Policy 2023, 2023(2):4 | DOI: 10.18267/j.wep.186  

Multinational enterprises play a significant role in the global economy. Their activities can have positive impacts on host countries as these companies tend to bring new capital, technology, and knowledge. Nevertheless, negative effects linked to their presence occur as well. Most studies focus on the overall impact of FDI on economic growth. In this paper, we go beyond this relationship and examine the literature describing specifically the indirect impacts of the activities of multinational corporations on host economies, the so-called spillover effects. We highlight the most relevant studies on this topic. Spillover effects occur both across and...