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On the Macroprudential Policy Stance in an Emerging Economy Eastern European Economics (IF 1.365) Pub Date : 2024-02-27 Alexie Alupoaiei, Matei Kubinschi, Florian Neagu
Our paper examines the macroprudential policy stance for the Romanian economy by considering simultaneously, unlike other papers, how borrower (Loan-to-Value Instruments) and capital-based instrume...
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The Proper Role of Government in Post-COVID Recovery: The Case of the Serbian Economy Eastern European Economics (IF 1.365) Pub Date : 2024-02-11 Srečko Devjak
This paper investigates the proper role of the Serbian government during the recovery of the economy after the COVID-19 pandemic. Based on corporate liquidity during the pandemic and with the help ...
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Assessing the resilience of the financial market - a multistage approach in the context of the COVID-19 pandemic Eastern European Economics (IF 1.365) Pub Date : 2024-02-11 Maria Grosu, Camelia Cătălina Mihalciuc, Liviu George Maha, Ciprian Apostol
The ability of companies to adapt in a short time to adverse situations is related to their resilience. This study aims to assess the resilience of companies listed in the Bucharest Stock Exchange ...
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Central Bank Communication and Financial and Macro Variables: The Case of European Inflation Targeters Eastern European Economics (IF 1.365) Pub Date : 2024-01-29 Maria Siranova, Magdalena Szyszko, Aleksandra Rutkowska
This paper investigates the effect of central bank communication on financial (interest and exchange rates) and macro (inflation and production) variables in twelve European inflation targeters in ...
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Understanding Monetary Policy Communication in a Small and Open Economy Under an Exchange Rate Anchor: The Case of North Macedonia Eastern European Economics (IF 1.365) Pub Date : 2024-01-19 Anita Ciunova-Shuleska, Nikolina Palamidovska-Sterjadovska, Tanja Jakimova, Borce Trenovski
The aim of this paper is to provide insights into the readability, structure, and tone of monetary policy communication in the case of the National Bank of the Republic of North Macedonia (NBRNM), ...
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Economic Complexity and Regional Growth in Turkey: Implications for East-West Disparity Eastern European Economics (IF 1.365) Pub Date : 2024-01-18 İ̇lhan Korkmaz, İ̇brahim Tuğrul Çınar, Tüzin Baycan
Economic complexity has significant implications for regional imbalances in Turkey, given the pronounced economic differences between its eastern and western provinces. This study aims to provide e...
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Market Efficiency During the COVID-19 Pandemic. Some Insights Using Non-Parametric Tests Eastern European Economics (IF 1.365) Pub Date : 2024-01-14 Andreea Iordache
This paper examines the weak form of the Efficient Market Hypothesis (EMH) across fourteen European Stock Markets from October 2018 to April 2021, a period divided into subsamples based on the outb...
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Did World War II Deaths Help Prevent Deaths from COVID-19? Eastern European Economics (IF 1.365) Pub Date : 2024-01-14 Michael Lokshin, Martin Ravallion, Vladimir Kolchin
The paper documents and tries to explain a striking negative correlation between COVID-19 mortality across countries and deaths during World War II. The correlation persists with various controls f...
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Profit Shifting in the Czech Republic – A Sectoral Approach Eastern European Economics (IF 1.365) Pub Date : 2024-01-06 Jan Pavel, Jana Tepperová
Companies in so-called conduit countries can take part in aggressive tax planning. Financial indicators of these companies can identify the presence and sometimes also the type of such behavior. We...
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Is Expansion of Overeducation Cohort-Driven? Evidence from Poland Eastern European Economics (IF 1.365) Pub Date : 2023-12-25 Jan Aleksander Baran
The paper examines factors behind the expansion of overeducation incidence among tertiary educated workers in Poland, which grew by up to 8 percentage points from 2006–2020. It is one of the first ...
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Powering Up Child Growth: The Impact of Electricity Outages on Children’s Anthropometric Outcomes in the Kyrgyz Republic Eastern European Economics (IF 1.365) Pub Date : 2023-12-17 Yermone Sargsyan, Salim Turdaliev
Using household-level panel data and a coarsened exact matching procedure, this paper investigates the relationship between frequent electricity outages and the anthropometric outcomes of children....
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Business Sector Investment in R&D as a Factor for Improving Innovation - Evidence from Hungary, Romania, Bulgaria, and Serbia Eastern European Economics (IF 1.365) Pub Date : 2023-12-01 Ivana Domazet, Darko Marjanović, Deniz Ahmetagić, Milica Bugarčić, Vladimir Simović
The purpose of this paper is to investigate whether a country’s innovative capacity increases when the business sector invests more in research and development. The empirical investigation covers S...
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Export of Travel Services in Western Balkans: A Gravity Model Approach Eastern European Economics (IF 1.365) Pub Date : 2023-11-30 Predrag Bjelić, Danijela Jaćimović, Radovan Kastratović, Maja Baćović
This paper investigates the importance of travel service exports in Western Balkans countries. It identifies the key drivers and barriers in exporting travel services for five Western Balkan econom...
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Labor Market Outcomes of Unemployed Czech and Polish Workers: Catching-Up with Austria? Eastern European Economics (IF 1.365) Pub Date : 2023-11-25 Vladislav Flek, Martin Hála, Martina Mysíková
This paper examines the micro-determinants of unemployment durations and exits in Czechia, Poland and Austria. Our hazard estimates utilize EU-SILC data and identify national specificities in which...
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Twenty-Five Years of Polish Equity Market Performance: The Questionable Force Shaping Economic Property Rights Institutions Eastern European Economics (IF 1.365) Pub Date : 2023-11-24 Anna P. Malinowska
This papere explores and quantifies the evolution of equity market performance and economic property rights dynamics in a reinstated market economy in Poland in the years 1995 to 2021. Using dynami...
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Subsidies and Employment: Exploring the Experience of Corporate and Family Farms in Russia Eastern European Economics (IF 1.365) Pub Date : 2023-11-19 Philip Kostov, Sophia Davidova, Yulia Nikulina, Valeria Arefieva
The paper investigates whether agricultural enterprises and the family farm sector in Russia respond differently to agricultural subsidies with respect to agricultural employment. Results show that...
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The Effect of the Pandemic and the War in Ukraine on the Riskiness of Financial Investments in Three Central European Countries Eastern European Economics (IF 1.365) Pub Date : 2023-11-17 Quang Van Tran, Jiri Malek
The COVID pandemic and the war in Ukraine are extraordinary events causing excessive turbulence in financial markets. Considering the leptokurtic and heteroscedastic properties of returns on financ...
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What Happens to Listed Firms When Their Managers or Board Members Join Politics? Eastern European Economics (IF 1.365) Pub Date : 2023-11-17 Krzysztof Jackowicz, Łukasz Kozłowski
We examine the consequences of a firm’s manager or board members transferring to politics. If social ties with ex-employers can withstand the test of time, the new political powers of former manage...
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Understanding Financial Inclusion of Individuals Engaged in Agriculture: Evidence from Upper-Middle-Income Balkan Economies Eastern European Economics (IF 1.365) Pub Date : 2023-11-09 Isidora Ljumovic, Vlado Kovacevic, Irena Jankovic
Emphasizing upper-middle-income Balkan Economies, this study focuses on the determinants of financial inclusion on a sample of individuals engaged in agriculture. Using logit estimations, we invest...
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Determinants of Export Diversification: The Case of Russian Regions Eastern European Economics (IF 1.365) Pub Date : 2023-10-08 Rogneda Vasilyeva, Alina Urazbaeva, Valentin Voytenkov
The hydrocarbon sector accounts for 50% of Russian exports, leading to high commodity price volatility risks for the economy. Prior literature emphasizes the role of export diversification in devel...
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An Investigation of Income and Wage Inequality in Turkey Using Burgernomics Eastern European Economics (IF 1.365) Pub Date : 2023-10-06 Mahmut Zeki Akarsu, Orkideh Gharehgozli, Vidya Atal
This study delves into the multifaceted issue of inequality in Turkey, analyzing overall and regional disparities as well as wage and gender inequalities in the labor market. Through the lens of th...
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The Job Retention Scheme in Slovakia: Impact on Dismissals and Firm Survival in the COVID-19 Pandemic Eastern European Economics (IF 1.365) Pub Date : 2023-09-29 Matěj Bělín, Marcela Veselkova
This paper evaluates the impact of the Slovak job retention scheme introduced in 2020 on dismissals and survival of small firms during the COVID-19 pandemic. We exploit exogenous variation in epide...
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Macro Stress Testing the Credit Risk of Conventional and Participation Banks in Turkey: A Nonparametric Quantile Regression Approach Eastern European Economics (IF 1.365) Pub Date : 2023-09-07 Resul Aydemir, Zehra Atik, Bulent Guloglu
ABSTRACT This paper applies a novel time series-based additive nonparametric quantile regression technique to stress test the credit risk of conventional and participation banks in Turkey. We particularly examine the effects of the exchange rate, unemployment rate, the policy interest rate, and the public debt-to-GDP ratio on the non-performing loan ratio (NPL) of Turkish banks at distinct quantile
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Euro Switch and Shadow Economies Eastern European Economics (IF 1.365) Pub Date : 2023-09-06 Alexi Thompson
ABSTRACT This paper studies the effect of euro adoption on the shadow economies of a group of European Union member countries using pooled mean group estimation. Controlling for macroeconomic factors and conducting several robustness checks, our results indicate that euro adoption has a negative association with the size of the shadow economy for this particular group of EU countries. We speculate
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Corruption and Total Factor Productivity in the Long-Run: Evidence from Post-WW2 Turkey Eastern European Economics (IF 1.365) Pub Date : 2023-09-05 Ozgur Teoman, Oguzhan Dincer, Tarkan Cavusoglu
ABSTRACT In this study, we investigate the relationship between corruption and total factor productivity (TFP) in Turkey. Our study contributes to the literature in several ways in terms of data, empirical specification, and method. First, we use a new and novel index of corruption for Turkey between the years 1950 and 2014. Second, we estimate the long-run cointegrating relationship between corruption
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Mergers & Acquisition Decisions in the Energy Sector Based on Financial Transparency and Audit Opinions Eastern European Economics (IF 1.365) Pub Date : 2023-06-29 Ioan-Bogdan Robu, George-Marian Aevoae, Daniela Neonila Mardiros, Ionut Viorel Herghiligiu
ABSTRACT The BRICS countries are known to be a key market for foreign direct investment. This paper analyzes the decision of EU acquirers from developed economies to invest in the energy sector in BRICS countries. Using empirical evidence on 4,222 cross-border M&As and fuzzy logic, the research results show that acquirers consider macroeconomic factors as significant. When choosing a company located
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COVID-19 Pandemic and Enterprise Financial Performance: Aggregate, Regional, and Sectoral Evidence from Poland Eastern European Economics (IF 1.365) Pub Date : 2023-06-20 Paweł Gajewski, Ali M. Kutan
ABSTRACT This paper investigates how the COVID-19 pandemic and resulting government support affected the financial performance of Polish firms at the aggregate, regional, and sectoral levels. The results of our dynamic econometric model showed that firm performance at the aggregate level declined in 2020Q1 but recovered in 2021Q1. The pandemic negatively affected western firms but not eastern ones
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The Migration Intentions of University Staff in North Macedonia: A Potential Brain Drain? Eastern European Economics (IF 1.365) Pub Date : 2023-06-20 Merita Zulfiu Alili, Russell King, Memet Memeti
ABSTRACT Skilled labor is an important asset for any country in its development process. The emigration of skilled personnel presents the threat of a “brain drain” which can affect a country’s growth, development and the quality of education. In this paper, brain drain is represented by the loss of academic staff and researchers from the country of North Macedonia. The intention to leave is driven
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The Value Relevance of Financial Performance and ESG Scores During Tumultuous Economic Periods Eastern European Economics (IF 1.365) Pub Date : 2023-06-18 Daniela Nicoleta Sahlian, Adriana Florina Popa, Viorel Costin Banţa, Claudia Mihaela Răpan, Silviu Cornel Virgil Chiriac
ABSTRACT This paper examines the value relevance of ESG scores (environmental, social and governance) before, during, and after tumultuous economic periods (including the 2008 financial crisis and the COVID−19 pandemic) taking into consideration a company’s financial performance. The analysis, using Ohlson’s price model, is based on a sample of companies listed on European stock exchanges from 2003
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Can Structural Indicators of Trade Explain Why EU Candidate Countries Are Integrating Slowly? Eastern European Economics (IF 1.365) Pub Date : 2023-06-16 Goran Nikolić, Ivan Nikolić
ABSTRACT The paper discusses whether “enlargement fatigue,” slowing down the European Union integration process of 6 Candidate Countries (C6), can be explained by the poor economic and trade performance of those economies, especially in trading with the EU. We comprehensively analyzed the merchandise trade of those economies with the EU in 2007–2018 using numerous quantitative techniques and applying
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Public Sector Performance and Public Sector Efficiency: An Analysis for CEE Countries Eastern European Economics (IF 1.365) Pub Date : 2023-06-13 Narcis Eduard Mitu, Cristian Valeriu Stanciu
This paper investigates Public Sector Performance (PSP), Public Sector Efficiency (PSE), and Data Envelopment Analysis (DEA) scores for 11 CEE countries, using the methodology proposed by Afonso et...
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Hypothetical Tax-Benefit Reforms in Hungary: Shifting from Tax Relief to Cash Transfers for Family Support Eastern European Economics (IF 1.365) Pub Date : 2023-06-13 Ana Agúndez García, Michael Christl
This paper evaluates two hypothetical budget-neutral reforms that shift resources from family tax expenditures to family cash transfers. We evaluate these reforms using a structural labor supply mo...
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Child Poverty in Croatia, Serbia, and Slovenia: The Role of Poverty Persistence and Social Transfers Eastern European Economics (IF 1.365) Pub Date : 2023-06-07 Aleksandra Anić, Jelena Žarković
We use a dynamic correlated random effects probit model with endogenous initial conditions for three poverty measures to assess child poverty persistence after controlling for structural household ...
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Firm Survival in Times of Crisis: Do Innovation and Financing Constraints Matter? Insights from the COVID-19 Pandemic Eastern European Economics (IF 1.365) Pub Date : 2023-06-05 Ekin Ayşe Özşuca
ABSTRACT Utilizing survey data collected over three rounds, this paper investigates the impact of pre-COVID innovation performance, innovation type, sources of knowledge, and the moderating role of financial constraints on survival following the outbreak of COVID-19. The findings pinpoint a strong and positive link between firm survival and innovation, especially process innovation, confirming the
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Analysis of the Relationship Between Energy Consumption and Economic Growth in Transition Countries Eastern European Economics (IF 1.365) Pub Date : 2023-05-24 Bojan Pejovic, Tamara Backovic, Vesna Karadzic
ABSTRACT This paper investigates the relationship between economic growth and energy consumption in European transition countries. Cross-sectionally augmented autoregressive distributed lag and cross-sectionally augmented distributed lag models were used in the paper to investigate the relationship, while robustness was checked using several different estimators. The results confirm a positive relationship
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Investigating the Factors Influencing Shadow Banking in EU Member States Eastern European Economics (IF 1.365) Pub Date : 2023-05-23 Mihail Petkovski, Aleksandar Stojkov, Jordan Kjosevski
ABSTRACT This paper investigates the driving forces of shadow banking in 27 EU Member States, using annual data for 1999–2020. To account for heterogeneity, the panel is split into two sub-groups labeled “old” Europe and Eastern Europe. The estimations provide evidence that bank assets, insurance corporation assets, interest rate spreads, and regulatory quality significantly determine shadow banking
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Using Macrofinancial Models to Simulate Macroeconomic Developments During the COVID-19 Pandemic: The Case of Albania Eastern European Economics (IF 1.365) Pub Date : 2023-05-23 Lorena Skufi, Adam Geršl
ABSTRACT The COVID-19 pandemic, and its impact on the economy tested the capacity of current macroeconomic models to forecast economic developments in turbulent times. In this article, we develop a linear macrofinancial model for Albania and examine whether it can predict the developments of key macroeconomic and financial variables during 2020–2021. To address increased uncertainty in the forecasts
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Geopolitical Risk and Contagion: Evidence from European Stock Markets During the Ukrainian Crisis Eastern European Economics (IF 1.365) Pub Date : 2023-05-17 Cecilia Ciocîrlan, Mihai Nițoi
This paper examines the European Union’s (EU) stock market connectedness before and after the Russian invasion of Ukraine. We used the frequency-domain spillover methodology of Baruník and Křehlík ...
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Race for Immunity: the Russian Stock Market during the COVID-19 Pandemic Eastern European Economics (IF 1.365) Pub Date : 2023-05-08 Kurkam Suvanova, Hyoung-Goo Kang, Chang-Mo Kang
ABSTRACT This paper evaluates the stock market performance in Russia during the COVID-19 pandemic from January 3, 2020, to April 30, 2021. The study shows daily abnormal returns of stocks declined on the day when the first coronavirus case was detected. The government’s actions in implementing lockdown restrictions and providing stimulus packages positively influenced the stock market. However, the
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Green Transition: Identifying Vulnerable Industries and Bank Loans in the Czech Republic Eastern European Economics (IF 1.365) Pub Date : 2023-04-28 Vojtěch Siuda
ABSTRACT This paper aims to identify the most emission-intensive industries in the Czech economy using an environmentally extended input-output framework to determine whether decarbonization of the economy might jeopardize financial system stability. The main contribution of this paper to the existing literature lies in connecting bank industry-specific loan exposures with industry-specific emission
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Utilitarian and Hedonic Motivation in E-Commerce Online Purchasing Intentions Eastern European Economics (IF 1.365) Pub Date : 2023-04-28 Melinda Timea Fülöp, Dan Ioan Topor, Sorinel Căpușneanu, Constantin Aurelian Ionescu, Umair Akram
ABSTRACT This study uses the theory of social learning to investigate the relationship between hedonic and utilitarian motivation and e-commerce online shopping intentions. Based on a literature review, four hypotheses and eight sub-hypotheses are proposed. The study’s novelty derives from the study region and the implications of the COVID-19 pandemic. The results indicate a correlation between utilitarian
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Left-wing Economic Populism and Savings: How Do Attitudes Influence Forward-Looking Financial Behavior? Eastern European Economics (IF 1.365) Pub Date : 2023-04-10 Illiashenko Pavlo, Mykhailyshyna Dariia
ABSTRACT This paper uses the case of Ukraine to explore the association between attitudes and saving behavior. We hypothesize that individuals’ preferences and beliefs, which we proxy with support for left-wing populist economic policies, have an adverse effect on strategic, forward-looking behavior. Using the data from a nationally representative survey conducted in 2019, we find that support for
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Intergenerational Educational Mobility in Poland in the Long Run: Education as a Positional Good Eastern European Economics (IF 1.365) Pub Date : 2023-03-17 Marcin Wroński
ABSTRACT We investigate the evolution of intergenerational educational mobility in Poland since 1920. We use a novel empirical method allowing for the measurement of mobility at a constant rank in the education distribution, not among education levels. This paper finds that intergenerational mobility increased after WWII. This increase was only temporary. When the new social system stabilized, intergenerational
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In state we trust: Evidence from Poland on why we undersave for retirement Eastern European Economics (IF 1.365) Pub Date : 2023-03-01 Marek Kośny, Radosław Kurach, Paweł Kuśmierczyk
ABSTRACT With a possible decline in public pension benefits, private savings will become critical for maintaining desired living standards, yet most people undersave. We focus on one of the possible explanations for this: trust in the state. Using data from a dedicated survey and applying structural equation modeling, this study demonstrates that Polish citizens cherish the unconditional, albeit subconscious
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Debt-Fueled Acquisitions by Non-Financial Firms Employing Bank-Associated Officers in Poland Eastern European Economics (IF 1.365) Pub Date : 2023-02-20 Dmytro Osiichuk, Paweł Mielcarz
ABSTRACT Firms employing former or incumbent members of management and supervisory boards of commercial banks exhibit higher acquisitiveness. The presence of bank-associated officers increases firms’ proclivity to engage in serial, cross-industry, and cross-border acquisitions. Firms employing bank-associated officers buy targets with lower complementarity. They are also significantly more likely to
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Market Reactions to COVID-19: Does Systemic Risk Vary Across Industries? A Markov-Switching CAPM Approach Eastern European Economics (IF 1.365) Pub Date : 2023-02-13 Emre Bulut, Cumali Marangoz, Muhammet Daştan
Despite a broad consensus on the response of US stock market volatility to the coronavirus outbreak, our micro-level understanding of its variation across industries still needs to be improved. Thi...
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The Relationship Between Public and Private Capital in Emerging Europe Eastern European Economics (IF 1.365) Pub Date : 2023-02-08 Vassilis Monastiriotis, Sasa Randjelovic
ABSTRACT The aim of this paper to evaluate the relationship between public and private capital formation in 16 economies from Central Eastern and South Eastern Europe by applying panel-cointegration methods to 2000–2017 data. We find a positive public-private capital formation nexus both in the short and the long-run, with pro-cyclicality of private capital formation and negative relevance of the user
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The firm-level employment impact of COVID-19: International evidence from World Bank Group’s Enterprise Surveys Eastern European Economics (IF 1.365) Pub Date : 2023-02-07 Safi Ullah Khan
ABSTRACT Using new data from the World Bank Group’s COVID-19 Impact Follow-up Enterprise Surveys completed in 39 countries, we find that a firm’s pre-pandemic financial condition is an important predictor of employment but only at the onset of the pandemic. Second, firms with teleworking arrangements, furloughed workers, and temporarily closed or reporting a decreased demand for products/services are
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Evaluation of the Demand for Alcoholic Beverages and Tax Policy in Turkey Eastern European Economics (IF 1.365) Pub Date : 2023-02-03 A. Ali Koç, Serhat Asci, Peyman Uysal
ABSTRACT The tax burden on alcoholic beverages has been rising remarkably in Turkey. This policy has significantly increased tax revenue in Turkish Lira, but it has not generated more tax revenues in terms of U.S. dollars since 2013. This study estimates price and income elasticities for select alcoholic beverages using demand models and simulates the impact of changing tax policies on demand in Turkey
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New strategies for sustainable growth in European Economies Eastern European Economics (IF 1.365) Pub Date : 2023-01-31 Cristina Badarau, Aneta Chodakowska, Kamilla Marchewka-Bartkowiak, Dimitrios Paparas
ABSTRACT This editorial presents several recent contributions to the debate on strategies for sustainable growth, in relation to the experience of different European countries. It introduces this special issue, composed of a selection of articles presented during three workshops organized or supported by the International Network for Economic Research (INFER). The articles included in the special issue
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Consumer Welfare Consequences of Armenia’s EAEU Accession Eastern European Economics (IF 1.365) Pub Date : 2023-01-28 Vardges Hovhannisyan, Vardan Urutyan
ABSTRACT This study provides an empirical assessment of the impacts of Armenia’s accession to the Eurasian Economic Union on consumer welfare. Specifically, it combines primary individual-level expenditure survey data with the recent advances in consumer theory to examine the welfare consequences of rising prices of a broad range of widely consumed dairy products. The choice of the dairy category reflects
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The Effects of Domestic Currency Depreciation on Import Substitution: New Empirical Evidence from the Ukrainian Pork Industry Eastern European Economics (IF 1.365) Pub Date : 2023-01-28 Pavlo Martyshev, Sören Prehn, Oleksandr Perekhozhuk, Volodymyr Vakhitov
Economic theory states that currency devaluation reduces imports. However, tradability of inputs makes the effect ambiguous. This paper aims to test the hypothesis that, when the exchange rate pass...
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Assessing the Performance of National Innovation Systems with a Helix-Based Composite Indicator: Evidence from 24 European Countries Eastern European Economics (IF 1.365) Pub Date : 2023-01-27 Apostolos Vetsikas
We employ the conceptual framework of “N-tuple helices” and devise a composite indicator, namely SFIGA (Society-Finance-Industry-Government-Academia), that aims at measuring the innovation performa...
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Has the COVID-19 pandemic impacted the intentions of individuals for a business venture? An integrated structural model approach Eastern European Economics (IF 1.365) Pub Date : 2023-01-25 Ioana Sorina Andreica Mihuț, Larisa Nicoleta Kanto Pop, Dana Lucia Tulai, Daniel Mican
This article provides distinctive insights into the main antecedents of entrepreneurial intention (EI) during the COVID-19 pandemic, merging Ajzen’s version of the Theory of Planned Behavior with a...
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How Automatic Adjustment Mechanism Works in Practice – A VECM Analysis of Monetary Transmission Mechanism in Bosnia and Herzegovina Eastern European Economics (IF 1.365) Pub Date : 2023-01-21 Dejan Kovačević
This paper takes stock of the literature on the monetary transmission mechanism in currency boards and analyzes the process of monetary transmission in Bosnia and Herzegovina. The transmission of m...
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Increasing Block Tariff Electricity Pricing and Propensity to Purchase Dirty Fuels: Empirical Evidence from a Natural Experiment Eastern European Economics (IF 1.365) Pub Date : 2023-01-18 Salim Turdaliev, Karel Janda
ABSTRACT We combine panel household data with the introduction of an increasing block tariffs (IBT) for residential electricity in three experimental regions of Russia to analyze the relationship between the IBT and the propensity of households to purchase dirty fuels. Using a difference-in-differences empirical specification, we find that the propensity to purchase dirty fuels has increased in the
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Investigating the Determinants of the Shadow Economy: The Baltic Region Eastern European Economics (IF 1.365) Pub Date : 2023-01-09 Korhan K. Gokmenoglu, Aysel Amir
ABSTRACT This study investigates the drivers of the shadow economy within the Baltic region, emphasizing the role of financial development, a missing feature from the extant literature. To this end, we analyzed an annual dataset covering the 2009–2019 period for Estonia, Latvia, and Lithuania using panel ARDL and obtained Pooled Mean Group (PMG) estimates. Empirical findings indicate that a rise in
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State Participation in Funded Pension Systems in Selected Central and Eastern European Countries Eastern European Economics (IF 1.365) Pub Date : 2022-12-22 Jaroslav Mečkovski, Tadas Gudaitis, Teodoras Medaiskis, Virginija Poškutė
ABSTRACT CEE countries introduced funded pensions in the early 2000s. The stated objectives of funded pensions were to diversify old age pension income, to attract additional financing sources to pension systems, to assure adequate income for future retirees, and to balance future state obligations in aging societies. The state in CEE countries encouraged participation in funded pensions with the help
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Empirical Evidence of the Effect of Fare Subsidies in Transition Economies Eastern European Economics (IF 1.365) Pub Date : 2022-12-19 Nina Bočková
ABSTRACT This paper examines the impact of two government measures in the Czech Republic and the Slovak Republic: the number of passengers transported by rail and the kilometers traveled. Eurostat data were used to develop an autoregressive integrated moving average (ARIMA) statistical model for capturing the time-series trend. The results confirm statistically significant differences in the Slovak
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How did fear of COVID-19 affect access to healthcare in Central and Eastern Europe? Findings from populations aged 50 or older after the outbreak Eastern European Economics (IF 1.365) Pub Date : 2022-12-01 Šime Smolić, Margareta Fabijančić, Nikola Blaževski
ABSTRACT This paper explores the characteristics of people aged 50 or older from eight CEE countries who reported forgoing healthcare due to fear of COVID-19. The sample of 13,033 individuals was based on data from the SHARE Corona Survey combined with data from previous waves. We performed a multivariate logistic regression model for healthcare avoidance. The results suggested that women, younger