Economic Resourcefulness: Definition and Modeling

Abstract

The amount of income earned, wealth and position in the labor market are determined by many factors. Numerous analyses indicate that these characteristics depend on, among others, gender, education, type of work and place of residence. The indicated factors, however, describe individual areas, which significantly hinders the comprehensive analysis and identification of the real determinants. In this context, the purpose of our analysis is to identify and characterize the concept of economic resourcefulness as a key factor conditioning people's effectiveness functioning on the market, managing the resources they possess, and having the ability to guarantee the economic security of their families. The empirical part of the analysis was carried out on data from a dedicated study conducted in Poland in 2016. Due to the design of the sample, the data from the study will identify the level of resourcefulness for groups of people that differ with respect to the respondents' age and experiences related to Poland's political transformation.

How socio-cultural transition helps to improve entrepreneurial intentions among women?

“…Finally, the impact of other demographic factors, such as education is very important because young enthusiastic entrepreneurs with a strong educational foundation generally perceive themselves to be better equipped with resources than their counterparts who lack the same educational advantages. These findings are also aligned with some recent literature, for instance, Konsy and Piotrowska (2019) holds that family income and economic security is an important determinant of entrepreneurial resourcefulness. Similarly, Quagrainie et al.…”

“…In this way, the findings of this study supports/extend the research agenda proposed by numerous recent studies, for instance, Aljarodi et al. (2022), Ghorfi and Girancourt (2022), Konsy and Piotrowska (2019), Nandamuri (2013), and Quagrainie et al. (2022).…”

Supporting or pushing too hard? The impact of parental support on overeducation in Poland

“…This indicates a 29 pp gap, while for non-parents this gap was only 1pp (Rękas, 2016). As a result, it is more often the mother, not the father, whose impact we see in the shaping of crucial aspects of an individual's personality, such as economic resourcefulness (Kośny & Piotrowska, 2019).…”

Is Stable Marriage Associated with Greater Wealth Among Low-Income Households?: Evidence from the Survey of Consumer Finances

“…To study the effects of family structure on household wealth in poverty, this research begins by defining these variables. As mentioned above, household wealth is the dependent variable and a measure of resourcefulness (Kośny and Piotrowska, 2019), which is especially important in poverty. Because household wealth is complex and multifaceted, the SCF asks hundreds of questions about sources of net worth and estimated values.…”

“…Wealth is important as a comprehensive indicator of financial well-being (Aronson and Keister, 2019), as a source of resilience (Grinstein-Weiss et al, 2008), and for the ongoing benefit of assets with the ongoing relief from debt (Wolff and Zacharias, 2009). For the purpose of this study especially, household wealth indicates "command over economic resources" (Hao, 1996, p. 270), i.e., resourcefulness (Kośny and Piotrowska, 2019). Household wealth is therefore an appropriate indicator of which family structures are conducive to economic well-being in deep poverty.…”