Pub Date : 2023-01-01DOI: 10.5937/ekonomika2303057k
Snežana Krstić, Aleksandar Savić, Radan Kostić
The goal of this article is to analyze the concept of system risk. The article reviews many definitions of system risk in various literatures. In addition, the article identifies factors that contribute to raising system risk, spreading infection, and provides a conceptual plan linking these phenomena. System risk can be defined as the risk that shock will result in such a significant materialization (eg macro financial) of imbalances that it expands on a scale that disrupts the functioning of the financial system and to the extent that negatively affects the real economy (eg economic growth). The draft of this plan aims to break down and clearly categorize the processes of accumulation, materialization and spread of system risk. This should facilitate its identification and subsequent mitigation by allocating appropriate preventive macroprudential measures.
{"title":"System risk management policy in banking","authors":"Snežana Krstić, Aleksandar Savić, Radan Kostić","doi":"10.5937/ekonomika2303057k","DOIUrl":"https://doi.org/10.5937/ekonomika2303057k","url":null,"abstract":"The goal of this article is to analyze the concept of system risk. The article reviews many definitions of system risk in various literatures. In addition, the article identifies factors that contribute to raising system risk, spreading infection, and provides a conceptual plan linking these phenomena. System risk can be defined as the risk that shock will result in such a significant materialization (eg macro financial) of imbalances that it expands on a scale that disrupts the functioning of the financial system and to the extent that negatively affects the real economy (eg economic growth). The draft of this plan aims to break down and clearly categorize the processes of accumulation, materialization and spread of system risk. This should facilitate its identification and subsequent mitigation by allocating appropriate preventive macroprudential measures.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135058002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.5937/ekonomika2301081s
Miloš Stojanović, Sonja Becić, Goran Stojanović, J. Gligorijević
The aim of this paper is to carry out an analysis of the impact of the monetary and credit policy on the real economic flows in the Republic of Serbia. In order to answer to the given goal, a correlation and regression analysis was performed for the period from 2004 to 2020. The results of this analysis have shown that there is a strong influence of the monetary and credit policy on the gross domestic product of the Republic of Serbia. Based on the results of the conducted regression analysis, it was found that in the Republic of Serbia, with the growth of the monetary aggregate M2 by 1%, gross domestic product grew by 0.691%. It was also found that the growth of approved long-term loans by 1% had a positive impact on the growth of gross domestic product by 0.425%. These values point to the great importance of the monetary and credit policy on economic growth in the Republic of Serbia and the need to attach great importance to monetary policy in the future period.
{"title":"The effect of monetary policy on gross domestic product in the Republic of Serbia","authors":"Miloš Stojanović, Sonja Becić, Goran Stojanović, J. Gligorijević","doi":"10.5937/ekonomika2301081s","DOIUrl":"https://doi.org/10.5937/ekonomika2301081s","url":null,"abstract":"The aim of this paper is to carry out an analysis of the impact of the monetary and credit policy on the real economic flows in the Republic of Serbia. In order to answer to the given goal, a correlation and regression analysis was performed for the period from 2004 to 2020. The results of this analysis have shown that there is a strong influence of the monetary and credit policy on the gross domestic product of the Republic of Serbia. Based on the results of the conducted regression analysis, it was found that in the Republic of Serbia, with the growth of the monetary aggregate M2 by 1%, gross domestic product grew by 0.691%. It was also found that the growth of approved long-term loans by 1% had a positive impact on the growth of gross domestic product by 0.425%. These values point to the great importance of the monetary and credit policy on economic growth in the Republic of Serbia and the need to attach great importance to monetary policy in the future period.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71212183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.5937/ekonomika2301001p
Svetlana Popović
Paper analysis inflation convergence in Greece, Italy, Ireland, Portugal and Spain (GIIPS). These countries were severely hit by financial and debt crisis and had to undertake deflationary adjustment programs, thus we wanted to understand weather those conditions reduced imbalances in Eurozone. We used statistical indicators and indicators of s-convergence to study the diversity of their inflation processes. Unit root test on the series of standard deviations of inflation differentials was used to check statistical significance of inflation convergence. Data was divided in two subperiods, from 1997-2008, and 2009-2022, to understand the influence of crisis and austerity measures on asymmetries and divergence of inflation. Results showed significant convergence until the crisis, than differences started to increase. This findings are important while inflation rises since 2021, and it again brought significant divergence between members' inflation rates. Should we fear of a new debt crisis, were the differences sufficiently reduced and imbalances removed?
{"title":"GIIPS and inflation convergence, two decades and few crisis later","authors":"Svetlana Popović","doi":"10.5937/ekonomika2301001p","DOIUrl":"https://doi.org/10.5937/ekonomika2301001p","url":null,"abstract":"Paper analysis inflation convergence in Greece, Italy, Ireland, Portugal and Spain (GIIPS). These countries were severely hit by financial and debt crisis and had to undertake deflationary adjustment programs, thus we wanted to understand weather those conditions reduced imbalances in Eurozone. We used statistical indicators and indicators of s-convergence to study the diversity of their inflation processes. Unit root test on the series of standard deviations of inflation differentials was used to check statistical significance of inflation convergence. Data was divided in two subperiods, from 1997-2008, and 2009-2022, to understand the influence of crisis and austerity measures on asymmetries and divergence of inflation. Results showed significant convergence until the crisis, than differences started to increase. This findings are important while inflation rises since 2021, and it again brought significant divergence between members' inflation rates. Should we fear of a new debt crisis, were the differences sufficiently reduced and imbalances removed?","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.5937/ekonomika2302035p
Nedeljko Prdić, B. Kuzman
The aim of this paper is to define development and competitiveness strategy of marketplaces using innovations and service provision, on the bases of theoretical attitudes analysis and research results. Performed researches are based on implementation of special methods of cognition and marketing research. Research results show that marketplaces are very efficient instrument of achieving economic and communications aims. It is established that salesmen on marketplaces by conducting concrete and precise strategies of marketing communications, may achieve their aims in relations to competition and in purpose of costumers' satisfaction. Presented researches make solid foundation for investments by market places through innovations in business, and that increase competitiveness of marketplaces. This research is considered a good start in that direction. The conclusion is that informatics achievements development and technology implementation create possibility to control volume of scales and increase compliance of marketplaces based on respect of customers' attitudes.
{"title":"Innovations and impact on market competitiveness based on marketing research","authors":"Nedeljko Prdić, B. Kuzman","doi":"10.5937/ekonomika2302035p","DOIUrl":"https://doi.org/10.5937/ekonomika2302035p","url":null,"abstract":"The aim of this paper is to define development and competitiveness strategy of marketplaces using innovations and service provision, on the bases of theoretical attitudes analysis and research results. Performed researches are based on implementation of special methods of cognition and marketing research. Research results show that marketplaces are very efficient instrument of achieving economic and communications aims. It is established that salesmen on marketplaces by conducting concrete and precise strategies of marketing communications, may achieve their aims in relations to competition and in purpose of costumers' satisfaction. Presented researches make solid foundation for investments by market places through innovations in business, and that increase competitiveness of marketplaces. This research is considered a good start in that direction. The conclusion is that informatics achievements development and technology implementation create possibility to control volume of scales and increase compliance of marketplaces based on respect of customers' attitudes.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211865","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.5937/ekonomika2301069s
V. Stojić
The use of the information and communication technologies (ICTs) transforms ways of manufacturing, doing business, working, accessing public services, informing and communicating. They enable overcoming of both geographical distances and underdevelopment of infrastructures in rural regions and less developed ones. That is why ICTs can play an important role in encouraging economic development of rural areas, improvement of life quality of their population as well as lessening of social exclusion. The paper is focused upon the possibilities of invigorating rural development in Serbia on the basis of the ICTs use, primarily the Internet. The paper firstly points to the main features of the Serbian village development; then it analyses the Internet access in rural areas. Finally, it points to the ways in which the ICTs can be used for stimulating economic development of the Serbian village in addition to improving life quality of the rural population.
{"title":"Information and communication technologies and rural development of Serbia","authors":"V. Stojić","doi":"10.5937/ekonomika2301069s","DOIUrl":"https://doi.org/10.5937/ekonomika2301069s","url":null,"abstract":"The use of the information and communication technologies (ICTs) transforms ways of manufacturing, doing business, working, accessing public services, informing and communicating. They enable overcoming of both geographical distances and underdevelopment of infrastructures in rural regions and less developed ones. That is why ICTs can play an important role in encouraging economic development of rural areas, improvement of life quality of their population as well as lessening of social exclusion. The paper is focused upon the possibilities of invigorating rural development in Serbia on the basis of the ICTs use, primarily the Internet. The paper firstly points to the main features of the Serbian village development; then it analyses the Internet access in rural areas. Finally, it points to the ways in which the ICTs can be used for stimulating economic development of the Serbian village in addition to improving life quality of the rural population.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71212174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-24DOI: 10.15388/ekon.2022.101.2.7
A. Sokolovska, T. Zatonatska
Despite the implementation of the concept of tax expenditures in the budgetary practice of many countries, theoretical studies of tax expenditures as a basis for their identification and quantification are still relevant. The emergence and development of the concept is accompanied by heated discussions about definition of normativе (benchmark) structure of tax and tax expenditures, as well as the classification of their individual elements. As a result, there is no uniform approach to defining the conceptual model of benchmark structure. This complicates the introduction of the concept of tax expenditures in those countries that set such a task for themselves, as well as their comparative qualitative and quantitative analysis in different countries. The purpose of this article is to generalize and further develop scientific approaches to determining the benchmark structure of the tax and its individual elements, as well as tax benefits and tax expenditures. The main results of this study are the classification of the main elements of the basic structure of the tax into groups and justification of their role in the identification of tax expenditures; defining “structural benefits” and “basic tax structure”; analysis of the report on other tax benefits in Ukraine and determination of the place and role of “structural benefits” in it.
{"title":"Debatable Aspects of the Concept of Tax Expenditures","authors":"A. Sokolovska, T. Zatonatska","doi":"10.15388/ekon.2022.101.2.7","DOIUrl":"https://doi.org/10.15388/ekon.2022.101.2.7","url":null,"abstract":"Despite the implementation of the concept of tax expenditures in the budgetary practice of many countries, theoretical studies of tax expenditures as a basis for their identification and quantification are still relevant. The emergence and development of the concept is accompanied by heated discussions about definition of normativе (benchmark) structure of tax and tax expenditures, as well as the classification of their individual elements. As a result, there is no uniform approach to defining the conceptual model of benchmark structure. This complicates the introduction of the concept of tax expenditures in those countries that set such a task for themselves, as well as their comparative qualitative and quantitative analysis in different countries. The purpose of this article is to generalize and further develop scientific approaches to determining the benchmark structure of the tax and its individual elements, as well as tax benefits and tax expenditures. The main results of this study are the classification of the main elements of the basic structure of the tax into groups and justification of their role in the identification of tax expenditures; defining “structural benefits” and “basic tax structure”; analysis of the report on other tax benefits in Ukraine and determination of the place and role of “structural benefits” in it.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44387238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-03DOI: 10.15388/ekon.2022.101.2.5
O. Trofymenko, Serhii Voitko, S. Naraievskyi
The object of research was to identify the field of renewable energy for ensuring the process of gradual transition from traditional energy to carbon-free technologies. The article compares the opportunities for energy development, taking into account current trends in sustainable development. The conducted analysis of energy resources in the section of renewable energy is based on the processing of available sources of analytical and statistical information. The study investigates the structure and features of the functioning of the energy sector of Ukraine and Turkey. There have been revealed several common problems of functioning of energy spheres in Ukraine and Turkey. The article investigates the possibilities of using technological solutions and principles of Industry 4.0 in ensuring energy security through the development of the electric car market. The analysis consists of calculations of the efficient functioning of solar and wind energy for Ukraine and Turkey. The article provides recommendations for the development of possible mutually beneficial cooperation between Ukraine and Turkey in the field of renewable energy.
{"title":"Development of Energy Supply Infrastructure Based on Industry 4.0 (on the Example of Ukraine and Turkey)","authors":"O. Trofymenko, Serhii Voitko, S. Naraievskyi","doi":"10.15388/ekon.2022.101.2.5","DOIUrl":"https://doi.org/10.15388/ekon.2022.101.2.5","url":null,"abstract":"The object of research was to identify the field of renewable energy for ensuring the process of gradual transition from traditional energy to carbon-free technologies. The article compares the opportunities for energy development, taking into account current trends in sustainable development. The conducted analysis of energy resources in the section of renewable energy is based on the processing of available sources of analytical and statistical information. The study investigates the structure and features of the functioning of the energy sector of Ukraine and Turkey. There have been revealed several common problems of functioning of energy spheres in Ukraine and Turkey. The article investigates the possibilities of using technological solutions and principles of Industry 4.0 in ensuring energy security through the development of the electric car market. The analysis consists of calculations of the efficient functioning of solar and wind energy for Ukraine and Turkey. The article provides recommendations for the development of possible mutually beneficial cooperation between Ukraine and Turkey in the field of renewable energy.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41568680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-01DOI: 10.15388/ekon.2022.101.2.6
Alban Elshani, Lekë Pula
This paper evaluates the performance and efficiency of the government public expenditure in the education and health sectors in the emerging economies context, specifically comparing Kosovo with the Western Balkan countries. The indicators of education and health sectors were used to assess a Public Sector Performance Index (PSP) and the Public Sector Efficiency Index (PSE). Also, this study uses the nonparametric method DEA (Data Envelopment Analysis) to evaluate the input-output oriented efficiency. This study finds that education score of performance ranges from 0.43 which is the minimum to 1.48 which is the maximum. And in the health sector, the PSP score ranges from 0.81 which is the minimum to 1.09 which is the maximum. Kosovo ranks 41st out of 42 countries in this sample, in terms of the education sector, with a performance index of 0.67, which is 37% below the average of 1.00, whilst in terms of the health sector it ranks 39th out of 42 countries in the sample.In the analysis of the input output efficiency model in the education sector, the results show that the countries included in the study achieve an efficiency of 76.69 and it means that countries can reduce relevant public expenditure by 23.3% and maintain the same level of PSP in the education sector. Kosovo is assessed in this analysis as an inefficient country. The value of the input-oriented index is 40.24, which means that Kosovo can achieve the same level of performance in the education sector by using 60% less relative public expenditure, whilst, on the other hand, the input-output efficiency results for the health sector show that the efficiency score for countries is 47.64, and denotes that the countries in the sample could reduce 53% in health expenditure to achieve the same performance in the health sector. Thus, Kosovo compared to other countries in the sample is within the limits of production opportunities and uses public expenditure on health and education inefficiently.
{"title":"The Efficiency of Educational and Healthcare public expenditures in Kosovo: A Data Envelopment Analysis Technique","authors":"Alban Elshani, Lekë Pula","doi":"10.15388/ekon.2022.101.2.6","DOIUrl":"https://doi.org/10.15388/ekon.2022.101.2.6","url":null,"abstract":"This paper evaluates the performance and efficiency of the government public expenditure in the education and health sectors in the emerging economies context, specifically comparing Kosovo with the Western Balkan countries. The indicators of education and health sectors were used to assess a Public Sector Performance Index (PSP) and the Public Sector Efficiency Index (PSE). Also, this study uses the nonparametric method DEA (Data Envelopment Analysis) to evaluate the input-output oriented efficiency. This study finds that education score of performance ranges from 0.43 which is the minimum to 1.48 which is the maximum. And in the health sector, the PSP score ranges from 0.81 which is the minimum to 1.09 which is the maximum. Kosovo ranks 41st out of 42 countries in this sample, in terms of the education sector, with a performance index of 0.67, which is 37% below the average of 1.00, whilst in terms of the health sector it ranks 39th out of 42 countries in the sample.In the analysis of the input output efficiency model in the education sector, the results show that the countries included in the study achieve an efficiency of 76.69 and it means that countries can reduce relevant public expenditure by 23.3% and maintain the same level of PSP in the education sector. Kosovo is assessed in this analysis as an inefficient country. The value of the input-oriented index is 40.24, which means that Kosovo can achieve the same level of performance in the education sector by using 60% less relative public expenditure, whilst, on the other hand, the input-output efficiency results for the health sector show that the efficiency score for countries is 47.64, and denotes that the countries in the sample could reduce 53% in health expenditure to achieve the same performance in the health sector. Thus, Kosovo compared to other countries in the sample is within the limits of production opportunities and uses public expenditure on health and education inefficiently.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49034517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-26DOI: 10.15388/ekon.2022.101.2.4
Kristina Zitikytė
The Covid-19 pandemic that began in 2020 presented a new challenge for the labor market participants. This paper discusses the Covid-19 pandemic, highlighting the key challenges that older people can face trying to stay in the labor market for longer in the future, especially if such pandemics continue. Binary response models are used to identify the push-and-pull factors determining the impact of the Covid-19 pandemic on the employment of people aged 55–64 during the pandemic in Lithuania. As the Covid-19 pandemic still continues, most of researchers prefer statistical analysis, comparing employment rates with those of the 2009 economic crisis, to determine the potential impact of the pandemic on employment or by only theoretically discussing the potential impact of the pandemic on the elderly. This paper models the impact of the pandemic on the employment of older people in Lithuania using unique administrative micro-data of State social insurance fund (SSIF). This allows to draw deeper conclusions about how the pandemic affects workers aged 55–64 in Lithuania. The results show that the employment of older people has not been disproportionately impacted by the Covid-19 pandemic, and if such pandemics occur in the future, they may present both limitations and opportunities from the point of view of older people.
{"title":"The Initial Impact of The Covid-19 Pandemic on Older Workers in Lithuania","authors":"Kristina Zitikytė","doi":"10.15388/ekon.2022.101.2.4","DOIUrl":"https://doi.org/10.15388/ekon.2022.101.2.4","url":null,"abstract":" The Covid-19 pandemic that began in 2020 presented a new challenge for the labor market participants. This paper discusses the Covid-19 pandemic, highlighting the key challenges that older people can face trying to stay in the labor market for longer in the future, especially if such pandemics continue. Binary response models are used to identify the push-and-pull factors determining the impact of the Covid-19 pandemic on the employment of people aged 55–64 during the pandemic in Lithuania. As the Covid-19 pandemic still continues, most of researchers prefer statistical analysis, comparing employment rates with those of the 2009 economic crisis, to determine the potential impact of the pandemic on employment or by only theoretically discussing the potential impact of the pandemic on the elderly. This paper models the impact of the pandemic on the employment of older people in Lithuania using unique administrative micro-data of State social insurance fund (SSIF). This allows to draw deeper conclusions about how the pandemic affects workers aged 55–64 in Lithuania. The results show that the employment of older people has not been disproportionately impacted by the Covid-19 pandemic, and if such pandemics occur in the future, they may present both limitations and opportunities from the point of view of older people.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48268238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-14DOI: 10.15388/ekon.2022.101.2.2
Nazlıgül Gülcan, Fatma Gül Altin, Samet Gürsoy
Energy production is a phenomenon that has always preserved its importance for the history of humanity, as well as where the energy is spent and its consumption are also important. This study examined the causality relationship between Bitcoin energy consumption and Apple, Dell Technologies, Lenova Group, HP, Quanta Computer, Compal Electronics, Canon, Wistron and Hewlett Packard Enterprise has been taken into account to represent technology companies’ stock market. In the analysis, daily price data for the period 12.02.2017-07.02.2021 were used. Toda-Yamamoto (1995) symmetric causality test and Hatemi-J (2012) asymmetric causality test were used for used to determine the relationship between Bitcoin energy consumption and technology companies’ stock values. According to the results of the Toda-Yamamoto (1995) causality test, it has been found that there is a causality from Bitcoin energy consumption to Apple's stock value; according to the Hatemi-J (2012) asymmetric causality test results, it has been determined that there is a causality from Bitcoin energy consumption positive shocks to Apple, Dell Technologies, Lenova Group, HP, Quanta Computer, Compal Electronics, Canon, Wistron and Hewlett Packard Enterprise stock values negative shocks and from Bitcoin energy expenditure negative shocks to Hewlett Packard Enterprise negative shocks. According to the results of the study in general, it is seen that the change in Bitcoin energy consumption has an effect on the firm returns of the companies that sell the necessary tools for bitcoin energy production. From this, it can be commented that bitcoin mining is also effective on the stock returns of technology companies as well as many financial factors.
{"title":"Evaluation of the Symmetrical and Asymmetrical Causality Relationship Between Bitcoin Energy Consumption and Stock Values of Technology Companies","authors":"Nazlıgül Gülcan, Fatma Gül Altin, Samet Gürsoy","doi":"10.15388/ekon.2022.101.2.2","DOIUrl":"https://doi.org/10.15388/ekon.2022.101.2.2","url":null,"abstract":"Energy production is a phenomenon that has always preserved its importance for the history of humanity, as well as where the energy is spent and its consumption are also important. This study examined the causality relationship between Bitcoin energy consumption and Apple, Dell Technologies, Lenova Group, HP, Quanta Computer, Compal Electronics, Canon, Wistron and Hewlett Packard Enterprise has been taken into account to represent technology companies’ stock market. In the analysis, daily price data for the period 12.02.2017-07.02.2021 were used. Toda-Yamamoto (1995) symmetric causality test and Hatemi-J (2012) asymmetric causality test were used for used to determine the relationship between Bitcoin energy consumption and technology companies’ stock values. According to the results of the Toda-Yamamoto (1995) causality test, it has been found that there is a causality from Bitcoin energy consumption to Apple's stock value; according to the Hatemi-J (2012) asymmetric causality test results, it has been determined that there is a causality from Bitcoin energy consumption positive shocks to Apple, Dell Technologies, Lenova Group, HP, Quanta Computer, Compal Electronics, Canon, Wistron and Hewlett Packard Enterprise stock values negative shocks and from Bitcoin energy expenditure negative shocks to Hewlett Packard Enterprise negative shocks. According to the results of the study in general, it is seen that the change in Bitcoin energy consumption has an effect on the firm returns of the companies that sell the necessary tools for bitcoin energy production. From this, it can be commented that bitcoin mining is also effective on the stock returns of technology companies as well as many financial factors.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41716513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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