Research background: In determining the prices in road transport, carriers usually use the calculations based on a so-called routes utilisation coefficient, which allows the carrier to also take the possibility of the return rides without load into account. Currently, it is usually used as a constant from the interval from zero to one. Purpose of the article: Considering a different offer of return transport from individual European Union (EU) countries, it can be assumed that the routes utilisation coefficient should have different values because there is a varying level of non-zero probability that the vehicle will return without a load. This study therefore proposes a new approach to determining the value of this coefficient based on transport direction. The study also aims to identify clusters of EU countries, for which the common value of the coefficient should be set. Methods: The Analysis of Variance (ANOVA) test was used to verify the assumption of the differences among the means of transport offers. Cluster analysis was used to identify the aforementioned groups of countries. This analysis is based on real data on transport offers to Slovakia from 18 different EU countries. Findings & value added: The results of the analysis can also be used in other EU countries because if significant differences in transport offers to Slovakia exist in individual countries, there is a reasonable assumption that this conclusion will also be valid in other countries. The analysis demonstrated that it is more appropriate to use the routes utilisation coefficient with various values, dependent on the transport direction. For the transport companies, implementation of the obtained results into practice is beneficial to increase their competitiveness through the more precise setting of transport prices, but also to the optimisation of the transport price itself with regard to the expected costs.

Over the last 30 years, the competition in road transport has increased significantly. For a transport company to maintain its position in the road freight transport market, the knowledge of the accurate costs arising from the transportation process is an important tool in the current competitive struggle. Carriers quantify the transportation costs in the process of price creation using the routes utilization coefficient, also taking into account routes with an empty vehicle. The value is usually set as a constant in the range from 0 to 1. The purpose of this paper is to show that it is more appropriate and economically feasible to consider this as a variable which depends on the direction as well as on the time of the transportation. In this analysis, a twofactor ANOVA model was applied to actual data of transport offers to Slovakia from 18 different countries recorded on a daily basis in a period of one year. The analysis shows that the direction of transportation is a significant factor in the offer, and therefore it is appropriate to include this factor in the price creation. The results of this analysis are in practice directly applicable to modify the calculation procedures and thus gain a competitive advantage for the transport operator in calculating the transportation price. Using this methodology, the carrier can determine the price more accurately and achieve greater price competitiveness in road transport in the common EU market.

The purpose of this original study is to critically analyse the emergence and development of the national models of financial regulation, international standards and codes, and regional and national financial regulation and supervision (for the cases of the UK, USA, Sweden, the EU, and Finland). The research raises both academic and regulatory concerns. The relevance and purpose of this research arise from a need for an academic analysis of the economic nature and classification of financial market regulation systems. They represent a theoretical justification for changes in the policies and supervisory practices of national and international regulatory authorities in response to innovations in financial technologies and instruments, digital products, and risks. Secondly, it will stimulate more systematic work on regulatory databases, registration, and reporting procedures in various economies in different financial markets. The author identifies five main systems of national financial regulatory markets: the multi-tiered, multi-agency US system, the twin peaks model (UK), and the mega-regulatory model (Sweden). There is a thorough review of the international standards and institutions that work for the stability of financial systems. The analysis of the regional and national systems of financial regulation and supervision is based on the examples of the EU and Finnish institutions. National macro- and micro-economic regulation and supervision have been examined, with a focus on the US Federal Reserve and the US Treasury. An important result of the study is the systematisation of the directions of the development of national and international regulatory institutions (since the 1980s). First, the minimum capital and credit risk requirements for banks (the 1980s) were complemented in the 21st century by buffer reserves, liquidity, and leverage standards. Second, regulation focuses on ensuring the sustainability of the national economy. The regulatory focus is on ensuring the sustainability of national and global financial systems. Third, there is an increase in the number of supervised institutions. Fourth, there is a division of the functions between central banks (macro-economic regulation) and one or two mega-regulators (micro-economic regulation and supervision). Fifth, there is a division of labour between the international financial institutions (BIS, IMF, and WB) and national regulators. Sixth, the focus is on protecting consumers and investors and countering money laundering and the financing of terrorism. Seventh, there is an understanding based on a common approach by central banks to new financial technologies and cybersecurity.

After the global crisis of 2008–2009, the world economy entered the era of restructuring. This article focuses on the risks that a new leader will face in the process of shaping the world economy. The methods employed in the research include big data processing of continuous change and the results of the symmetric macroeconomic analysis based on the statistics collected by the International Monetary Fund (IMF), The Word Bank (WB), Bank for International Settlements (BIS), Central banks and Treasuries. The study results proved that the recessionary processes, their depth and global nature, are caused by a combination of world financial system crises and general civilization problems. These new systemic risks for the world economy might result in new global crises that will limit the resources of international financial institutions for sustainable development. Besides, for most banks these crises will mean shifting a big share of derivatives to the off-balance liabilities, using Special Purpose Vehicle (SPV) in deals, followed by an increase in state and corporate debts, trade wars, a slowdown of economic development in China, and widening contradictions between global and national finances. Regular research and systematization have developed certain guidelines for the global economic restructuring process. First of all, it is recommended on the base of interstate compromises to focus on international agreements to ensure a solid foundation for global finance. On the basis of the comparative analysis carried out for the USA, China and other counties, it was made clear that no one leader in world economy in 21st century views the world reserve as based on the currency of one country only. Instead, there will be a slow transition to using Special Drawing Rights (SDR) with a basket from 15–20 currencies G20.