Michał Wielechowski

• PhD
• Warsaw University of Life Sciences

The aim of this study was to assess the impact of the 2024 U.S. presidential election and the so-called “Trump effect” on the volatility of agricultural commodity prices, with a particular focus on corn, wheat, soybeans, and oats. To evaluate the market’s reaction to political uncertainty, a 10-day election window (October 30 – November 12, 2024) w...

Artykuł ma na celu ustalenie wpływu fluktuacji wskaźników makroekonomicznych na skłonności inwestycyjne przedsiębiorstw, mierzone wskaźnikiem intensywności inwestycji – zdefiniowanym jako stosunek wydatków inwestycyjnych do całkowitych przychodów. Analiza obejmuje pięć sektorów przemysłu przetwórczego w Polsce (według Klasyfikacji Działalności PKD)...

Financial literacy plays a crucial role in individuals’ decision-making processes. The paper aims to thoroughly identify the financial literacy needs and challenges of adults with low financial literacy living in rural areas. The paper presents the results of a focus group study conducted among a target group (35 people) and interviews with financi...

In recent years, research on trade rebalancing in agri-food supply chains has gained prominence due to trade sanctions, supply chain disruptions, and vulnerabilities exposed by pandemics and conflicts. This study focuses on the recalibration of agri-food trade dynamics, using the 2014 Russian import ban as a case study. The ban significantly altere...

Aim: The aim of the study is to identify and characterize agricultural policy instruments employed to mitigate the adverse effects of the COVID-19 pandemic in Poland. It also aims to propose new and modified state policy instruments to counter the pandemic’s negative consequences in agriculture. Methods: We employed a qualitative approach using exp...

Celem opracowania jest ocena oddziaływania polityki monetarnej prowadzonej przez Narodowy Bank Polski na dynamikę cen skupu produktów rolnych. W okresie pandemii COVID-19 polityka NBP stała się wyjątkowo łagodna. Bezpośrednią konsekwencją takich działań był dynamiczny wzrost podaży pieniądza. Opóźnionym skutkiem było pojawienie się znaczących proce...

The COVID-19 pandemic affected the functioning of agriculture and food systems worldwide, including Poland. The industry of production means and services designated for agriculture is a crucial component of the food economy and a factor in agricultural development. The study aims to identify and evaluate changes in the sales and consumption of agri...

In today’s business environment, incorporating Environmental, Social, and Governance (ESG) principles into corporate strategies has evolved from being a marginal consideration to a core element of strategic planning. In the study, we characterize and assess ten widely recognized ESG frameworks. The selection of these frameworks is grounded in a lit...

Theoretical background: Agriculture is an input-intensive sector of the economy. The sector of means of production in agriculture is one of the three basic components of the food economy. The prices of agricultural inputs shape the operational costs of farms and significantly affect their income situation. Key agricultural inputs represent fertiliz...

The study aims to assess whether there are significant differences among EU member states regarding the Russo-Ukrainian-conflict-driven changes in macroeconomic indicators and whether these differences are linked to the country’s energy vulnerability. Applying the k-means clustering, there are distinguished three country groups similar with regard...

Addressing risks and pandemics at a country level is a complex task that requires transdisciplinary approaches. The paper aims to identify groups of the European Union countries characterized by a similar COVID-19 Resilience Index (CRI). Developed in the paper CRI index reflects the countries’ COVID-19 risk and their readiness for a crisis situatio...

This paper assesses whether the strength of trade ties with Russia and Ukraine differen�tiates the reaction of stock markets to the outbreak of the Russian invasion of Ukraine on 24 February 2022. Both the G20 and the EU are studied. The focus is on the stock market index change on the first day of the invasion, and the stock market index change be...

Purpose – The paper aims to assess the credit financing of microenterprises and farmers by commercial and cooperative banks in pre-COVID-19 and COVID-19 subperiods. Research method – In the study, we apply the Kruskal-Wallis test and Wilcoxon ranksum pairwise comparison test with the adjustment based on the Benjamini and Hochberg method to check wh...

The study aim is to characterise and assess the credit situation of microenterprises in Poland in 2020-2022. We focus on credit dynamics and quality, including total loans, investment loans, working capital loans, and overdrafts. We use monthly data from Polish Credit Information Bureau (BIK). The research covers the period between July 2020 and Ju...

Objectives The paper aims to present and assess the functioning of the de minimis guarantee programme for micro, small, and medium-sized enterprises (SMEs) in the wholesale and retail trade sector in Poland. Material and methods We are focused on SMEs. We analyse all enterprises that, when applying for financing with the credit guarantee, have dec...

The second decade of the XXI century has experienced the development of meat substitutes. The origin of this niche is said to emerge from environmental concerns. One of the market leaders in this infant industry is Beyond Meat company. The study aims to identify the impact of the capital markets and media coverage for an infant industry, such as me...

The European Union dairy processing sector has an important position and role in processing food and drinks in EU28 concerning the share of turnover, value-added, and employment. Its products belong to the most imported and exported items, mainly in EU countries. The article aims to evaluate the competitiveness of the EU milk market with respect to...

The paper aims to identify the differences in stock prices’ rate of return of companies from transportation industries in 2020, i.e., the first year of the COVID-19 pandemic. We focus on the largest companies by market capitalization from airlines, logistics and air freight, marine, rail, and road industries, using Global Industry Classification St...

The paper aims to present and assess the changes in real housing prices in Poland during the COVID-19 pandemic. We analyse transaction prices of residential premises in a multi-family housing (apartments) in the primary and secondary markets within 16 administrative capitals of voivodeships. We use quarterly data on House Prices Database collected...

The paper aims to detect the differences in stock market performance between companies from the alternative energy sector and main stock market sectors in the first and second years of the COVID-19 pandemic. We used Global Industry Classification Standard to analyse eleven main stock market sectors and the alternative energy sector. Based on the on...

Objectives The main aim of the paper is to assess the impact of COVID-19 on the credit financing of microenterprises and farmers in Poland. Material and methods We study the investment loans and working capital loans for microenterprises and farmers from the perspective of their number, value, number of loan enquiries, and the share of non-perform...

The paper aims to identify groups of countries characterised by a similar human mobility reaction to COVID-19 and investigate whether the differences between distinguished clusters result from the stringency of government anti-COVID-19 policy or are linked to another macroeconomic factor. We study how COVID-19 affects human mobility patterns, emplo...

The objective of the article is to identify the groups of regions characterised by a similar level of human capital determinants and investigate the relationship between cluster-based human capital determinants and economic development. We analyse key demographic, health, educational, labour, technological, and cultural determinants of human capita...

Celem artykułu było przedstawienie funkcjonowania programu gwarancji de minimis dla MŚP z sektora transportowego w Polsce. Ponadto badanie ocenia wpływ COVID-19 na liczbę i wartość uzyskanych gwarancji przez analizowane przedsiębiorstwa. Wykorzystano dane Banku Gospodarstwa Krajowego, państwowego banku rozwoju. Okres badawczy obejmował lata 2013–20...

The outbreak of the COVID-19 pandemic has hit the global financial markets, including energy commodities. The aim of the paper is to examine the reaction of the energy commodity market to the COVID-19 pandemic, particularly the epidemic status, the stringency of the government anti-COVID-19 policy, and the stock market volatility. We use daily data...

Agricultural commodities strengthened their position on the financial and commodity market during the 21st century. At the same time, however, the agricultural-oriented commodity market has been suffering due to a high degree of price fluctuation. Significant price fluctuations are typical in this respect, especially in times of uncertainty and per...

The outbreak and rapid spread of the COVID-19 pandemic has hit the global financial markets, including the energy sector. Alternative energy belongs to the economy’s key sectors concerning environmental issues and seems to be a full-fledged alternative for fossil-based conventional energy. This paper aims to assess the impact of COVID-19 on the sto...

The study presents the waste management system in force in Poland and the related methods of calculating fees. Based on the analysis, we should assume that the implementation of the fee for waste through the principle of the pay-as-you- -throw seems the most appropriate option to ensure reliability in paying for waste management services. Based on...

Securitization of the agricultural commodity market has accelerated since the beginning of the 21st century, particularly in the times of financial market uncertainty and crisis. Sugar belongs to the group of important agricultural commodities. The global financial crisis and the COVID-19 pandemic has caused a substantial increase in the stock mark...

The paper aims to identify the COVID-19-driven structural break in agricultural commodity prices time series. We assume the official outbreak of the COVID-19 pandemic, i.e., 11 March 2020, as the breaking point. We use data on the S&P GSCI Agriculture and Livestock Index and the S&P 500 from Refinitiv Datastream. The structural break is identified...

The aim of the paper is to assess changes in mobility in public transport in Poland, as a consequence of the development of the COVID-19 pandemic. We analyse the problem from the country and regional (voivodeships) perspective. The data come from Google COVID19 Community Mobility Reports, the Ministry of Health of Poland, and the Oxford COVID-19 Go...

Celem opracowania jest ukazanie czynników determinujących rozwój turystyki w gminie Lutowiska, położonej na obszarze Bieszczadzkiego Parku Narodowego, w opinii mieszkańców badanej gminy. Gmina ta wyróżnia się znacznymi walorami przyrodniczo-kulturowymi. Badanie prze- prowadzono za pomocą sondażu diagnostycznego z wykorzystaniem kwestionariusza anki...

The recent outbreak of the coronavirus pandemic has made a significant impact on the global financial markets. The aim of this paper is to assess the short-term reaction of the Visegrad countries’ financial markets to the COVID-19 pandemic. The Visegrad Group is a political alliance of four Central European countries, namely Czechia, Hungary, Polan...

The aim of the paper was to present health care systems and assess the recent trend in health care expenditure in the European Union countries. The data source was the World Bank and European Statistical Office (Eurostat). The adopted research period covered the years 2000–2016, due to data availability. The methodology of the study was based on an...

The aim of the paper was to present and assess the economic activity of disabled people on the Polish labour market from a country, voivodship, and Masovian Voivodship rural areas’ perspective. The study used data from the Labour Force Survey in Poland collected by the Central Statistical Office and original data collected by a questionnaire, using...

Celem artykułu jest ocena wahań wydatków z krajowych budżetów centralnych na rolnictwo, udziału wartości dodanej rolnictwa w PKB oraz poziomu zorientowania gospodarek narodowych na rolnictwo w krajach Unii Europejskiej w podziale na dojrzałe demokracje oraz postkomunistyczne państwa członkowskie UE. W badaniu został obliczony wskaźnik orientacji ro...

Celem artykułu jest ocena wahań wydatków z krajowych budżetów centralnych na rolnictwo, udziału wartości dodanej rolnictwa w PKB oraz poziomu zorientowania gospodarek narodowych na rolnictwo w krajach Unii Europejskiej w podziale na dojrzałe demokracje oraz postkomunistyczne państwa członkowskie UE. W badaniu został obliczony wskaźnik orientacji ro...

The aim of the paper was to present the changes taking place in relation to public expenditure on agriculture, the share of agriculture in creating GDP, and the level of orientation of national economies on agriculture using the Agricultural Orientation Index from a global, SDG regions’ and European countries’ perspective. The data source was the F...

The aim of the research was to recognize the importance of the New Silk Road concept for trade relations between Poland and China. The study uses data from the Statistics Poland (Główny Urząd Statystyczny) on Poland’s foreign trade turnover with China, as well as information from the source literature. The adopted research period covers the years 2...

We test whether there are country-specific election cycles present in the public expenditure in the European Union. Using panel data on all 28 current EU Member States from 1995 to 2015, we find in general evidence for an election-induced expansion in total government spending and within the categories of public services, safety, housing, recreatio...

We test the hypothesis that post-communist history affect election cycles in the European Union countries. We show that pre-election fiscal manipulation increase total public spending per capita by 1.9% and three specific spending categories, i.e. general public services, public order and safety, and economic affairs in Central and Eastern Europe d...

Celem artykułu jest przedstawienie wpływu wyniku referendum z 23 czerwca 2016 r. dotyczącego wyjścia Wielkiej Brytanii z Unii Europejskiej na stan gospodarki i finansów tego kraju. Publikacja zawiera przegląd światowej literatury i prasy ekonomicznej odnoszących się do kwestii następstw decyzji Brytyjczyków o opuszczeniu struktur unijnych. W artyku...

The aim of research is to present economic and financial uncertainty related to Britain's exit from the European Union (EU). Paper discusses and analyses the pre-referendum characteristics of Brexit, the problem of growing uncertainty and its impact on British financial markets and the economy of the United Kingdom (UK), and possible scenarios of f...

Celem artykułu jest zaprezentowanie stanu sektora turystycznego w Unii Europejskiej (UE), ze szczególnym uwzględnieniem Polski. W pracy wykorzystano dane z lat 2005-2014 pochodzące z World Travel & Tourism Council, Eurostatu oraz raportów Instytutu Turystyki. Ważnym wskaźnikiem rozwoju turystyki jest sytuacja makroekonomiczna, która ma wpływ na kon...

W artykule przedstawiono ogólny zarys ewolucji podejścia do deficytu budżetowego i ciężaru zadłużenia prezentowanego przez przedstawicieli poszczególnych nurtów ekonomicznych oraz zaprezentowano odniesienie do problemu długu w okresie przed ukształtowaniem się nauki ekonomii w starożytności i średniowieczu. Studia literatury wskazały, że poglądy pr...

Wspólna Polityka Rolna (WPR) jest uznawana za najstarszą i najbardziej rozbudowaną politykę Unii Europejskiej (UE). Od początku, polityka rolna odgrywała niezwykle istotną rolę w procesach integracyjnych a decydenci rozumieli jej wyjątkowy charakter. Zmiany zasad funkcjonowania WPR do 2013 r. dotyczyły przede wszystkim: przejścia od wsparcia cen do...

Ekonomia i polityka są niemalże współzależne i jakakolwiek dyskusja o charakterze ekonomicznym nie jest pełna bez wkładu politycznego. rola polityki i polityków w kształtowaniu się cykli koniunkturalnych była i jest szeroko dyskutowana. w artykule przedstawiono teoretyczne założenia politycznego cyklu koniunkturalnego oraz politycznego cyklu budżet...

Production of fruits and vegetables in Poland is characterized by a high degree of fragmentation. Manufacturers have poor technical background and little use of modern technologies. In conjunction with the lack of use of marketing opportunities, Polish fruit and vegetable producers cannot compete on the global market. Taking joint cooperation throu...

The aim of this article is the presentation and the attempt to analyse such phenomena as: an excessive general government deficit and public debt in EU Member States over the past 3 years. For the European Union the years 2008-2010 were the time when public finances of most member countries worsened dramatically. The average budget deficit in the E...

Głównym zamierzeniem artykułu było przedstawienie wpływu globalnego kryzysu finansowego na stan amerykańskiego i polskiego rolnictwa. Pomimo występujących trudności sektory te wydają się być bardziej odporne na niekorzystne zjawiska finansowe aniżeli inne gałęzie obydwu gospodarek.

The aim of this article is the presentation and the attempt to analyse such phenomena as: an excessive general government deficit and public debt in EU Member States over the past 3 years. For the European Union the years 2008-2010 were the time when public finances of most member countries worsened dramatically. The average budget deficit in the E...