Global Financial Crisis Seriously Hits Russian Economy Because of Structural Imbalances
Wirtschaft im Wandel,
Due to the falling global demand for commodities and the heavy decline of world oil prices in last summer, Russian economy was affected seriously. The following decrease in export revenues and a wave of short-term capital withdrawals led to a crash of Russian stock and capital markets and a deterioration of the economic situation at the end of the previous year. The government decided to stabilize the exchange rate of the Rouble by interventions and to support the domestic banking sector in order to maintain credit availability. In respect of the approaching recession, the parliament approved an economic stimulus package that would help to stabilize the economy and to avoid too strong social burdens for the households. Nevertheless, there is a strong weakening of economic growth because of the economy’s dependency from oil prices and the lack of alternatives up to now.
Currency Appreciation and Exports: Empirical Evidence for Germany
Wirtschaft im Wandel,
In the first decade after its introduction, the Euro didn’t just hold up well, but compared to important currencies even appreciated considerably. Of course, exchange rate risks were noticeably lowered by introducing the single currency, since the bulk of EMU Member States’ exports are conducted within the currency union. Nevertheless, a strong Euro is unfavourable especially for open economies like Germany.
The article investigates the effects of exchange rate movements on German exports over time. The analyses reveal a downward impact of nominal effective exchange rates, not only for total, but also for exports to countries outside the currency union. Although an increasing pass-through of exchange rate changes to export prices is apparently at hand, further reasons for the dwindling effect of nominal exchange rates on exports are likely to exist.
In this context, it is shown that exports are less sensitive not only with respect to nominal, but also with respect to real effective exchange rate changes, suggesting a declining price elasticity of demand. Instead, exports are increasingly determined by economic activity in trading partner countries. In consequence of its geographic proximity, Germany did particularly benefit from the economic upswing in Eastern Europe, overlaying the appreciation of the Euro. Additionally, the latter could hardly impair German export industries due to their specialization on capital and high-quality consumer goods less vulnerable to exchange rate fluctuations.
Vielfältigkeit eines Hybridberufes: Mechatronikfacharbeiter nach der Ausbildung
In the period from 2002 to 2004, 302 skilled workers successfully concluded their education as a mechatroniker, microtechnologist, chemical laboratory assistant, physics laboratory assistant or varnish laboratory assistant within the scope of the model project "compound education in new professions of high technology" which was initiated by the Saxonian State Ministry of Economy and Labor. The model project and the scientific monitoring were promoted from means of the European Social Fund and complementary state means of the Free State of Saxony.
Some months after the completion of their education, the graduates were questioned by the scientific monitoring about different aspects concerning the model project and its evaluation, points of interests have for example been:
§ the retrospective assessment of the education and the model project,
§ the estimation of their chances in the job market,
§ the professional whereabouts as well as
§ the evaluation of their knowledge in terms of its suitability for daily use.
In this article, the results of the last both points in the view of the mechatroniker, which are the biggest group in the model project with 180 graduates, are picked out as a central theme. Because the mechatronikers should combine the branches of the mechanics and the electronics in the second part of the result representation the actual operational areas of the former trainee are examined.
ich hätte evtl. einiges anders formuliert: (der Satzbau klingt sonst so eingedeutscht)
The article mainly refers to the last two points. Also, the view is limited to the results of the mechatroniker. Covering 180 graduates, it has been the largest group within the model project.
The intention of the new occupational image of the mechatroniker was a bridging of mechanics and electronics. Therefore, it is examined in the second part of this article, to which extend this bridging is reflected in the actual operational areas of the former trainees.
Direktinvestitionen in der Zwischenkriegszeit und nach 1990 - erste Ergebnisse eines nicht ganz einfachen Vergleichs
Willkommene Investoren oder nationaler Ausverkauf?: Ausländische Direktinvestitionen in Ostmitteleuropa im 20. Jahrhundert. Frankfurter Studien zur Wirtschafts- und Sozialgeschichte Ostmitteleuropas, Band 11,
Foreign direct investments have a long tradition in Central East European countries and reached a considerable level already during the interwar period. From an economic point of view, Central Eastern Europe strongly depends on foreign investments - today like in the interwar period. Technological backwardness and a lack of internal sources of capital hampered the development of a self-sufficient economy in the newly founded states of Central Eastern Europe after the First World War as well as after the breakdown of socialism. Nevertheless, foreign direct investment has always been subject to a critical debate too in the host economies. Focusing on a comparison between Poland, Czechoslovakia/Czech Republic, and Hungary, the book deals with the continuities and changes of foreign direct investments in Central Eastern Europe - an issue that has been widely neglected in historical research so far.