Pub Date : 2022-06-13DOI: 10.1080/00128775.2022.2077763
E. Țilică
ABSTRACT This paper investigates if the transmission channel of the Global Financial Crisis to 17 Eastern European markets can be directly connected with the US market or one of the three largest European markets. By employing a dummy regression model with a GJR-GARCH and EGARCH frameworks, the results show that Euronext is the main transmission channel for most analyzed markets. Latvia, Russia and Serbia were affected by the London Stock Exchange, while Slovakia showed no contagion. These results show that the crisis’s effects and transmission were not identical worldwide. This suggests that measures created to mitigate such crises should be tailored to each market.
{"title":"Crisis transmission channel for 17 East-European countries during the Global Financial Crisis","authors":"E. Țilică","doi":"10.1080/00128775.2022.2077763","DOIUrl":"https://doi.org/10.1080/00128775.2022.2077763","url":null,"abstract":"ABSTRACT This paper investigates if the transmission channel of the Global Financial Crisis to 17 Eastern European markets can be directly connected with the US market or one of the three largest European markets. By employing a dummy regression model with a GJR-GARCH and EGARCH frameworks, the results show that Euronext is the main transmission channel for most analyzed markets. Latvia, Russia and Serbia were affected by the London Stock Exchange, while Slovakia showed no contagion. These results show that the crisis’s effects and transmission were not identical worldwide. This suggests that measures created to mitigate such crises should be tailored to each market.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"318 - 352"},"PeriodicalIF":1.1,"publicationDate":"2022-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46962940","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-29DOI: 10.1080/00128775.2022.2075392
Viktor Stojkoski, Katerina Toshevska-Trpchevska, Elena Makrevska Disoska, Dragan Tevdovski
ABSTRACT The existence of complementarity relationships between different types of innovations is important for developing synergistic effects and economies of scale. This, in turn, should yield increased firm productivity. Here, we explore the potential impact of complementarity and/or substitutability relationships between different innovation activities on the firms’ performance by utilizing cross-sectional data taken from the Community Innovation Survey (CIS2014) for two groups of countries: Central and Eastern Europe and Western European countries. The results indicate that all types of innovation have a statistically significant and positive impact on the productivity of the companies operating in both markets.
{"title":"Differences in the Impact of Innovation Relationships on Firms’ Productivity: Evidence from CIS 2014","authors":"Viktor Stojkoski, Katerina Toshevska-Trpchevska, Elena Makrevska Disoska, Dragan Tevdovski","doi":"10.1080/00128775.2022.2075392","DOIUrl":"https://doi.org/10.1080/00128775.2022.2075392","url":null,"abstract":"ABSTRACT The existence of complementarity relationships between different types of innovations is important for developing synergistic effects and economies of scale. This, in turn, should yield increased firm productivity. Here, we explore the potential impact of complementarity and/or substitutability relationships between different innovation activities on the firms’ performance by utilizing cross-sectional data taken from the Community Innovation Survey (CIS2014) for two groups of countries: Central and Eastern Europe and Western European countries. The results indicate that all types of innovation have a statistically significant and positive impact on the productivity of the companies operating in both markets.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"378 - 402"},"PeriodicalIF":1.1,"publicationDate":"2022-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46579115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-29DOI: 10.1080/00128775.2022.2074461
Leon Kohrt, Florian Horky, J. Fidrmuc
{"title":"Exchange Rates in Emerging Markets in the First Wave of the Covid-19 Pandemic","authors":"Leon Kohrt, Florian Horky, J. Fidrmuc","doi":"10.1080/00128775.2022.2074461","DOIUrl":"https://doi.org/10.1080/00128775.2022.2074461","url":null,"abstract":"","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"1 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42414465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-24DOI: 10.1080/00128775.2022.2075393
Rodica Ianole-Călin, I. Horodnic, A. Plopeanu
ABSTRACT The paper aims to deepen understanding of the reasons for participation in undeclared work and under-declared employment. Alongside the main theories used so far in the field, self-determination theory is introduced by investigating the role of internalized and extrinsic motivation. Logistic regression analysis and classification and regression trees are used on a sample of 1,059 Romanian youths. The results emphasize the central role of tax morale, in generating intolerance toward informal practices and internalized motivations for compliance. In addition, peer influence shapes the decision to adopt informal practices whereas deterrent measures have no significant impact.
{"title":"Intrinsic versus Extrinsic Drivers: An Investigation into Young People’s Motives to Engage in Under-Declared Employment and Undeclared Work","authors":"Rodica Ianole-Călin, I. Horodnic, A. Plopeanu","doi":"10.1080/00128775.2022.2075393","DOIUrl":"https://doi.org/10.1080/00128775.2022.2075393","url":null,"abstract":"ABSTRACT The paper aims to deepen understanding of the reasons for participation in undeclared work and under-declared employment. Alongside the main theories used so far in the field, self-determination theory is introduced by investigating the role of internalized and extrinsic motivation. Logistic regression analysis and classification and regression trees are used on a sample of 1,059 Romanian youths. The results emphasize the central role of tax morale, in generating intolerance toward informal practices and internalized motivations for compliance. In addition, peer influence shapes the decision to adopt informal practices whereas deterrent measures have no significant impact.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"60 1","pages":"559 - 577"},"PeriodicalIF":1.1,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45185581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-04DOI: 10.1080/00128775.2022.2066939
C. Hartwell
{"title":"The World Has Changed: Moving to an Officially Post-Post-Transition Region","authors":"C. Hartwell","doi":"10.1080/00128775.2022.2066939","DOIUrl":"https://doi.org/10.1080/00128775.2022.2066939","url":null,"abstract":"","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"60 1","pages":"189 - 191"},"PeriodicalIF":1.1,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41392190","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-03DOI: 10.1080/00128775.2022.2068606
Catalin Curmei, Andreea Curmei-Semenescu
ABSTRACT This study empirically analyzes how corporate social responsibility contributes to creating value in banks in turbulent times, offering a comparative analysis of Central and Eastern European countries. It examines the role of corporate social responsibility in the relationship between banks and shareholders, depositors, and customers. The results emphasize the effectiveness and limits of using corporate social responsibility to create value in relationships with stakeholders during the 2008 financial crisis. The effects of the different types of corporate socially responsible actions – social, environmental, or community-focused – are analyzed separately for banks with high social performance.
{"title":"Corporate Social Responsibility in Banks in Turbulent Times and Particularities in Central and Eastern European Countries","authors":"Catalin Curmei, Andreea Curmei-Semenescu","doi":"10.1080/00128775.2022.2068606","DOIUrl":"https://doi.org/10.1080/00128775.2022.2068606","url":null,"abstract":"ABSTRACT This study empirically analyzes how corporate social responsibility contributes to creating value in banks in turbulent times, offering a comparative analysis of Central and Eastern European countries. It examines the role of corporate social responsibility in the relationship between banks and shareholders, depositors, and customers. The results emphasize the effectiveness and limits of using corporate social responsibility to create value in relationships with stakeholders during the 2008 financial crisis. The effects of the different types of corporate socially responsible actions – social, environmental, or community-focused – are analyzed separately for banks with high social performance.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"60 1","pages":"285 - 304"},"PeriodicalIF":1.1,"publicationDate":"2022-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43807907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-22DOI: 10.1080/00128775.2022.2064307
Pedro Bação, Vanessa Gaudêncio Lopes, Marta C. N. Simões
ABSTRACT This study examines whether AI, as revealed in productivity improvements, may have the ability to threaten sectoral employment in Portugal. We first present a theoretical framework based on a supply and demand model for sectoral output. This model predicts that the impact of AI will depend on the response of labor demand to two opposing forces: as productivity improves less labor is required to produce the same output, while more output is demanded because of lower production costs brought about by higher productivity, which creates more jobs. Our estimates of the industry-level elasticities of employment with respect to productivity for a sample of 32 industries over 1995–2017 using a Bayesian multilevel approach are all negative and surprisingly similar across sectors.
{"title":"AI, Demand and the Impact of Productivity-enhancing Technology on Jobs: Evidence from Portugal","authors":"Pedro Bação, Vanessa Gaudêncio Lopes, Marta C. N. Simões","doi":"10.1080/00128775.2022.2064307","DOIUrl":"https://doi.org/10.1080/00128775.2022.2064307","url":null,"abstract":"ABSTRACT This study examines whether AI, as revealed in productivity improvements, may have the ability to threaten sectoral employment in Portugal. We first present a theoretical framework based on a supply and demand model for sectoral output. This model predicts that the impact of AI will depend on the response of labor demand to two opposing forces: as productivity improves less labor is required to produce the same output, while more output is demanded because of lower production costs brought about by higher productivity, which creates more jobs. Our estimates of the industry-level elasticities of employment with respect to productivity for a sample of 32 industries over 1995–2017 using a Bayesian multilevel approach are all negative and surprisingly similar across sectors.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"353 - 377"},"PeriodicalIF":1.1,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48020697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-21DOI: 10.1080/00128775.2022.2064876
C. Albulescu
ABSTRACT Using data on 17 listed public banks from Russia over the period 2008 to 2016, we analyze whether international oil prices affect the bank stability in an oil-dependent country. We resort to a Pool Mean Group (PMG) estimator, and we show that an increase in oil prices has a long-run positive effect on Russian public banks stability. While positive oil-price shocks contribute to bank stability in the long run, an opposite effect is recorded for negative shocks. However, no significant impact is documented in the short run. Our findings are robust to different bank stability specifications and different samples.
{"title":"Bank Financial Stability and International Oil Prices: Evidence from Listed Russian Public Banks","authors":"C. Albulescu","doi":"10.1080/00128775.2022.2064876","DOIUrl":"https://doi.org/10.1080/00128775.2022.2064876","url":null,"abstract":"ABSTRACT Using data on 17 listed public banks from Russia over the period 2008 to 2016, we analyze whether international oil prices affect the bank stability in an oil-dependent country. We resort to a Pool Mean Group (PMG) estimator, and we show that an increase in oil prices has a long-run positive effect on Russian public banks stability. While positive oil-price shocks contribute to bank stability in the long run, an opposite effect is recorded for negative shocks. However, no significant impact is documented in the short run. Our findings are robust to different bank stability specifications and different samples.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"60 1","pages":"217 - 246"},"PeriodicalIF":1.1,"publicationDate":"2022-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45144540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-15DOI: 10.1080/00128775.2022.2065305
Slavko Bezeredi, Vjekoslav Bratić, I. Urban
ABSTRACT The tax wedge for employment income in Croatia is calculated using administrative microdata. The analysis covering the period 2014–2018 demonstrates that the average tax wedge dropped from 33.2% in 2014 to 31.2% in 2018, which is the result of changes to both the social insurance contributions and personal income taxation systems. In addition, the analysis shows that tax wedge levels in Croatia are substantially lower than what had been shown in previous research, where results were primarily derived by analyzing hypothetical individuals.
{"title":"Tax Burden on Labor Income in Croatia: Calculation and Analysis Based on Administrative Data","authors":"Slavko Bezeredi, Vjekoslav Bratić, I. Urban","doi":"10.1080/00128775.2022.2065305","DOIUrl":"https://doi.org/10.1080/00128775.2022.2065305","url":null,"abstract":"ABSTRACT The tax wedge for employment income in Croatia is calculated using administrative microdata. The analysis covering the period 2014–2018 demonstrates that the average tax wedge dropped from 33.2% in 2014 to 31.2% in 2018, which is the result of changes to both the social insurance contributions and personal income taxation systems. In addition, the analysis shows that tax wedge levels in Croatia are substantially lower than what had been shown in previous research, where results were primarily derived by analyzing hypothetical individuals.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"60 1","pages":"305 - 329"},"PeriodicalIF":1.1,"publicationDate":"2022-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47467598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-04DOI: 10.1080/00128775.2022.2058552
L. Cismaș, E. Bălan
ABSTRACT Research has highlighted agriculture’s contribution to the Romanian bioeconomy growth at the level of each territorial administrative region (NUTS 2). This paper analyzes the relevant socio-economic indicators of the bioeconomy in Romania’s regions. We use Eurostat and the National Institute of Statistics from Romania (NIS) database for selected indicators. Cluster analysis using the SPSS software was chosen as a research method. Results revealed disparities between development regions. The article concludes that regional policies and investments from government and private firms have an essential role in developing agriculture and the bioeconomy.
{"title":"Agriculture’s Contribution to the Growth of Romanian Bioeconomy: A Regional Approach","authors":"L. Cismaș, E. Bălan","doi":"10.1080/00128775.2022.2058552","DOIUrl":"https://doi.org/10.1080/00128775.2022.2058552","url":null,"abstract":"ABSTRACT Research has highlighted agriculture’s contribution to the Romanian bioeconomy growth at the level of each territorial administrative region (NUTS 2). This paper analyzes the relevant socio-economic indicators of the bioeconomy in Romania’s regions. We use Eurostat and the National Institute of Statistics from Romania (NIS) database for selected indicators. Cluster analysis using the SPSS software was chosen as a research method. Results revealed disparities between development regions. The article concludes that regional policies and investments from government and private firms have an essential role in developing agriculture and the bioeconomy.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"403 - 419"},"PeriodicalIF":1.1,"publicationDate":"2022-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47668011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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