Pub Date : 2023-06-13DOI: 10.1080/00128775.2023.2223581
N. Mitu, C. Stanciu
ABSTRACT 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 al. (various years). Our calculations are based on seven components of the public sector, described by 12 opportunity indicators and six Musgravian indicators. Moreover, we adapt and extend the Afonso, Schuknecht, and Tanzi methodology in order to be able to compute annual scores for PSP and PSE. The results show that expenditure performance is higher in the group of medium-sized governments. Additionally, medium-sized government groups obtained the highest efficiency scores.
{"title":"Public Sector Performance and Public Sector Efficiency: An Analysis for CEE Countries","authors":"N. Mitu, C. Stanciu","doi":"10.1080/00128775.2023.2223581","DOIUrl":"https://doi.org/10.1080/00128775.2023.2223581","url":null,"abstract":"ABSTRACT 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 al. (various years). Our calculations are based on seven components of the public sector, described by 12 opportunity indicators and six Musgravian indicators. Moreover, we adapt and extend the Afonso, Schuknecht, and Tanzi methodology in order to be able to compute annual scores for PSP and PSE. The results show that expenditure performance is higher in the group of medium-sized governments. Additionally, medium-sized government groups obtained the highest efficiency scores.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"700 - 722"},"PeriodicalIF":1.1,"publicationDate":"2023-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44545091","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 : 2023-06-07DOI: 10.1080/00128775.2023.2218849
Aleksandra Anić, Jelena Žarković
ABSTRACT 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 characteristics and economic variables. The empirical analysis is based on the 2015–2018 longitudinal sample of the Survey of Income and Living Conditions for Slovenia, Croatia, and Serbia. Results show strong poverty persistence regardless of poverty measure, with much stronger effects observed for Croatia and Serbia than for Slovenia. Social transfers have more than twice the capacity to lift children out of poverty in Slovenia compared to the other two countries.
{"title":"Child Poverty in Croatia, Serbia, and Slovenia: The Role of Poverty Persistence and Social Transfers","authors":"Aleksandra Anić, Jelena Žarković","doi":"10.1080/00128775.2023.2218849","DOIUrl":"https://doi.org/10.1080/00128775.2023.2218849","url":null,"abstract":"ABSTRACT 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 characteristics and economic variables. The empirical analysis is based on the 2015–2018 longitudinal sample of the Survey of Income and Living Conditions for Slovenia, Croatia, and Serbia. Results show strong poverty persistence regardless of poverty measure, with much stronger effects observed for Croatia and Serbia than for Slovenia. Social transfers have more than twice the capacity to lift children out of poverty in Slovenia compared to the other two countries.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"680 - 699"},"PeriodicalIF":1.1,"publicationDate":"2023-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44376321","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 : 2023-06-05DOI: 10.1080/00128775.2023.2221229
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 ability of innovators to adapt to new conditions as a determinant of survival. Moreover, relying on internal knowledge is found to increase the chance of survival and adaptability to times of crisis. The results further indicate that access to finance strengthens the positive impact of innovation on firm survival/adaptation.
{"title":"Firm Survival in Times of Crisis: Do Innovation and Financing Constraints Matter? Insights from the COVID-19 Pandemic","authors":"Ekin Ayşe Özşuca","doi":"10.1080/00128775.2023.2221229","DOIUrl":"https://doi.org/10.1080/00128775.2023.2221229","url":null,"abstract":"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 ability of innovators to adapt to new conditions as a determinant of survival. Moreover, relying on internal knowledge is found to increase the chance of survival and adaptability to times of crisis. The results further indicate that access to finance strengthens the positive impact of innovation on firm survival/adaptation.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"421 - 456"},"PeriodicalIF":1.1,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41426196","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 : 2023-05-24DOI: 10.1080/00128775.2023.2216690
Bojan Pejovic, Tamara Bacovic, V. Karadzic
{"title":"Analysis of the Relationship Between Energy Consumption and Economic Growth in Transition Countries","authors":"Bojan Pejovic, Tamara Bacovic, V. Karadzic","doi":"10.1080/00128775.2023.2216690","DOIUrl":"https://doi.org/10.1080/00128775.2023.2216690","url":null,"abstract":"","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"1 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42139860","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 : 2023-05-23DOI: 10.1080/00128775.2023.2215217
Mihail Petkovski, Aleksandar Stojkov, Jordan Kjosevski
{"title":"Investigating the Factors Influencing Shadow Banking in EU Member States","authors":"Mihail Petkovski, Aleksandar Stojkov, Jordan Kjosevski","doi":"10.1080/00128775.2023.2215217","DOIUrl":"https://doi.org/10.1080/00128775.2023.2215217","url":null,"abstract":"","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":" ","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43496406","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 : 2023-05-23DOI: 10.1080/00128775.2023.2215229
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, we construct uncertainty bands with quantile regressions. The results indicate that, in general, a linear model is flexible enough to analyze non-linear events and may thus be used in abnormal times.
{"title":"Using Macrofinancial Models to Simulate Macroeconomic Developments During the COVID-19 Pandemic: The Case of Albania","authors":"Lorena Skufi, Adam Geršl","doi":"10.1080/00128775.2023.2215229","DOIUrl":"https://doi.org/10.1080/00128775.2023.2215229","url":null,"abstract":"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, we construct uncertainty bands with quantile regressions. The results indicate that, in general, a linear model is flexible enough to analyze non-linear events and may thus be used in abnormal times.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"517 - 553"},"PeriodicalIF":1.1,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47440143","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 : 2023-05-17DOI: 10.1080/00128775.2023.2209074
C. Ciocîrlan, M. Niţoi
ABSTRACT 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 2018 and an event-study approach. We find increased spillover effects, particularly for Central and Eastern European markets. In the long term, the structure of spillover transmission does not substantially change, but the invasion caused a transitory increase in stock market connectedness. We also find confirmation effects accompanied by a transitory decline in EU stock market returns. Although the invasion led to short-term market turbulence, the results indicate little signs of potentially harmful contagion.
{"title":"Geopolitical Risk and Contagion: Evidence from European Stock Markets During the Ukrainian Crisis","authors":"C. Ciocîrlan, M. Niţoi","doi":"10.1080/00128775.2023.2209074","DOIUrl":"https://doi.org/10.1080/00128775.2023.2209074","url":null,"abstract":"ABSTRACT 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 2018 and an event-study approach. We find increased spillover effects, particularly for Central and Eastern European markets. In the long term, the structure of spillover transmission does not substantially change, but the invasion caused a transitory increase in stock market connectedness. We also find confirmation effects accompanied by a transitory decline in EU stock market returns. Although the invasion led to short-term market turbulence, the results indicate little signs of potentially harmful contagion.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"615 - 647"},"PeriodicalIF":1.1,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46084834","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 : 2023-05-08DOI: 10.1080/00128775.2023.2210099
Kurkam Suvanova, Hyoung-Goo Kang, C. 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 early lifting of lockdowns sent a negative signal to investors. Despite the skepticism among the population toward the first coronavirus vaccine Sputnik V, the news of its registration, mass vaccination, and Russia’s “vaccine diplomacy” contributed to the stock market’s growth.
{"title":"Race for Immunity: the Russian Stock Market during the COVID-19 Pandemic","authors":"Kurkam Suvanova, Hyoung-Goo Kang, C. Kang","doi":"10.1080/00128775.2023.2210099","DOIUrl":"https://doi.org/10.1080/00128775.2023.2210099","url":null,"abstract":"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 early lifting of lockdowns sent a negative signal to investors. Despite the skepticism among the population toward the first coronavirus vaccine Sputnik V, the news of its registration, mass vaccination, and Russia’s “vaccine diplomacy” contributed to the stock market’s growth.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"554 - 570"},"PeriodicalIF":1.1,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44685679","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 : 2023-04-28DOI: 10.1080/00128775.2023.2204841
Vojtěch Siuda
{"title":"Green Transition: Identifying Vulnerable Industries and Bank Loans in the Czech Republic","authors":"Vojtěch Siuda","doi":"10.1080/00128775.2023.2204841","DOIUrl":"https://doi.org/10.1080/00128775.2023.2204841","url":null,"abstract":"","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":" ","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47296268","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 : 2023-04-28DOI: 10.1080/00128775.2023.2197878
M. Fülöp, D. Topor, Sorinel Căpușneanu, Constantin Aurelian Ionescu, U. 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 and hedonic motivation and online shopping intentions, while information searching is a significant predictor of online purchase intentions. This paper contributes to both the academic and practical fields, and e-vendors can use it as a framework to manage website activity.
{"title":"Utilitarian and Hedonic Motivation in E-Commerce Online Purchasing Intentions","authors":"M. Fülöp, D. Topor, Sorinel Căpușneanu, Constantin Aurelian Ionescu, U. Akram","doi":"10.1080/00128775.2023.2197878","DOIUrl":"https://doi.org/10.1080/00128775.2023.2197878","url":null,"abstract":"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 and hedonic motivation and online shopping intentions, while information searching is a significant predictor of online purchase intentions. This paper contributes to both the academic and practical fields, and e-vendors can use it as a framework to manage website activity.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"61 1","pages":"591 - 613"},"PeriodicalIF":1.1,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46634294","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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