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sobota, 24. december 2011

Prebral: The Slovenian economy: stranded in recovery

The Slovenian economy: stranded in recovery
The Slovenian economy: stranded in recovery by Janez Prašnikar

My rating: 3 of 5 stars

Pg. 51 - After a deep plunge in 2009, the Slovenian economy has been slowly recovering over the last two years. Weak demand might partially explain low growth rates, but it doesn't at all explain the scale and intensity of the deterioration in enterprises' balance sheets. ..... Why is recovery in Slovenian lasting so long? How much of the blame for slow recovery can be placed on repairing the weak balance sheets of banks and entetprises?

Pg.102/103 - politically connected members of supervisory boards are most likely influenced by their political parties' bosses. These members often do not act independently and for the benefit of the company as a legal entity. . . .As shown by our research, the presence of politically related members of supervisory boards in the entire observed period was very high in Slovenia. This was especially high in firms with prevailing state ownership. Due to prevailing state ownership in firms, a large number of supervisory board members are often replaced when a governing party loses an election. . . . . If political parties are serious about their statements that economic growth requires structural changes......., an important task would be to remove mechanisms that allow people to become supervisory board members (or members of management boards) exclusively trough political connections.

Pg . 109 - "Education is key to prosperity and the top countries are striving hard to get even better. " (Fulla n, 2011)

Pg. 109 - Innovation plays a crucial role in determining today's economica growth patterns. . . . The role of universities and existing national knowledge base is the result of a sound education system that equips people with human capital - cognitive and non-cognitive abilities.

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