2021, Volume 14, Issue 3
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RekordAxiomatic formulation of the optimal transaction cost theory in the legal process through Cobb-Douglas optimization(Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej, 2021-09-30)Subject and purpose of work: This paper uses Cobb-Douglas optimization to formulate an optimal transaction cost algorithm within the constraint of a generalized legal framework. Materials and methods: The author has adopted a Lagrangian approach to formulate the social utility function, then, from a set of legally allowed strategies established the Karush-Kuhn-Tucker conditions for the legal game so as to find the optimal parameters within the social utility function. Finally, the optimal transaction cost algorithm was developed. Results: The Bordered Hessian Matrix from the partial differentials of the social utility function showed that there is a particular parameter within the social utility function which describes the optimal transaction cost. An adjustment of this parameter is essential in mechanism design for legal games. Conclusions: The author has shown how transaction costs influence the set of strategies played by players in a legal game, and has described the essence of a social utility function and how it can be optimized.
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RekordIndebtedness among farmers in Haryana state, India / Zadłużenie wśród rolników w stanie Hariana w Indiach(Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej, 2021-09-30)Subject and purpose of work: The study aims to assess the nature, extent and sources of debt and the measures of the burden of debt on farmers. Materials and methods: The study was based on primary data collected (by field survey) from a sample of 600 farmers selected from Haryana state in India. With regards to the selection of farmers/respondents, a proportionate sampling technique was employed. For the analysis of the collected data, average (or mean value) and percentage techniques were used. The data were collected in January, February and March, 2021. Results: The study revealed that the average amount of debt per sampled farmer is 563 960 rupees. This amount of debt is very high. Institutional sources played a major role in loan disbursement to farmers. Of the total amount owed, one third of all the debt was incurred from non-institutional sources at a higher rate of interest; 67.03% was incurred for productive purposes and the remaining 32.97% of debt was incurred for non-productive purposes. Non-productive debt adds nothing to agricultural production. 67% of all farmers in the state belong to marginal and small farm-size category. Thus, at small size of land holdings, at higher rate of interest charged by non-institutional sources and non-productive loans are the main cause of farmer indebtedness. Conclusions: Farmers have been trapped under the burden of debt and are not in a situation to pay their loans back within the prescribed period of time.
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RekordLease price differentiation and its influence on the attraction of micro, small and medium enterprises’ (MSMEs) to major shopping malls in Zambia / Zróżnicowanie cen najmu i jego wpływ na przyciąganie mikro-, małych i średnich przedsiębiorstw (MMŚP) do dużych galerii handlowych w Zambii(Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej, 2021-09-30)Subject and purpose of work: Based on community-wide charges that shopping malls discriminate against small business tenants, this paper seeks: firstly to identify the principal determinants of shopping mall rentals, and secondly to understand if there exists a statistically significant dispersion in rentals against MSMEs. Materials and methods: Relative Importance Index and SPSS (statistical tests) were used to analyze the survey-based data which was acquired from eleven shopping malls in Lusaka. Results: The MSME tenants pay on average $20.32/m2 more t han anchor tenants and $19.12/m2 more than chain stores, ironically on account of capital limitations. MSMEs also face an additional risk during sudden economic shocks due to untenable lease provisions and poor negotiating influence. Conclusions: The study concludes by acknowledging that the MSME sector is covertly vitiated by the imposition of high rental premiums. It recommends that shopping malls should have an affirmative simpler letting policy. Furthermore, a shopping mall association should-be commissioned to exclusively safeguard the interests of MSMEs.
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RekordThe growth performance of selected spice crops in Haryana state / Procesy wzrostu wybranych upraw roślin przyprawowych w rejonie Harijana(Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej, 2021-09-30)Subject and purpose of work: The study aims to evaluate the growth performance of spice crops in Haryana state of India. Materials and methods: The study is based on secondary data obtained over the period of 17 years i.e., from 2001-2002 to 2017-2018. Four spice crop – ginger, turmeric, garlic and fenugreek were selected from rabi and kharif season on the basis of the largest area sown. In order to analyze the data descriptive statistics (mean and C.V.) and CGR (compound growth rate) were employed. Results: The study revealed a significant positive growth rate of 2.20%, 4.50% and 2.20% in the area, production and productivity of ginger in the district of Panchkula, respectively. In the district of Yamunanagar, a growth rate 13.80% and 10.20% was found in the area and production of turmeric. However, a negative productivity growth rate of -3.20% was also revealed. A positive growth rate 1.50%, 3.30% and 0.17% was found in the area, production and productivity of garlic in Karnal district. In the district of Yamunanagar, a growth rate for fenugreek of 7.30% and 7.60% and 13.90% in the area, production and productivity was found. The state of Haryana recorded a significant growth of 1.7%, 2.8% and 1.1% per annum in the area, production and productivity of spice crops respectively. Conclusions: The study revealed a positive growth rate across all the selected spice crops, indicating improving prospects of spice crops in Haryana state.
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RekordBorderland location as a factor of the development of the Terespol commune / Przygraniczne położenie jako czynnik rozwoju gminy Terespol(Państwowa Szkoła Wyższa im. Papieża Jana Pawła II w Białej Podlaskiej, 2021-09-30)Subject and purpose of work: The aim of the study was to determine the significance of the borderland location as a factor in the development of the Terespol commune. The paper answers the questions how the borderland location is perceived by the inhabitants, whether it gives an opportunity for the development of the Terespol commune, and what is the significance of the borderland location compared to other factors in the commune's development.Materials and methods: The study uses the method of a survey with a representative sample of 50 inhabitants of the Terespol commune. The literature on the subject related to the factor of the borderland location and its role in local development as well as planning documents concerning the development of the commune were investigated. The analyzes were supplemented with a review of official statistical databases describing economic activity in the commune. The time scope of the research covers the years 1990-2021. Results: In the light of the research, the borderland location is the leading factor in the development of the commune, and keeping it on the current development path and the growing significance of this factor may increase the chance of building a “New Silk Road”. Other development potential are rich natural and landscape values which favour the expansion of tourism and agriculture. The potential of the local community – residents, local entrepreneurs, and local government – is assessed as low. In the opinion of the inhabitants the potential of the location is also not fully used. Conclusions: The commune's potential should be used in the development of additional production specialties, its multifunctionality and better adaptation to new socio-economic conditions resulting from the economic transformation and the challenges of increasing competitiveness. It is necessary to activate other functions and factors, whose significance has decreased over the years, including human capital activation. A fuller use of the commune's potential should be based to a greater extent on the participation of the local community.