The nexus between financial development, globalization, and environmental degradation: Fresh evidence from Central and Eastern European Countries

In this paper, the parameters of the growth regression, including different variables measuring the degree of financial development for the Central and Eastern European countries are estimated. Next, the optimal values of specific variables measuring the level of financial development are calculated. The results of the empirical investigation indicate that countries with more stable financial markets and institutions and greater access to them grew faster in the period 2001-2015. The results reflecting the impact of the financial deepening on economic growth are more ambiguous. In the pre-crisis period, the relationship between the depth of financial institutions and economic growth turned out to be insignificant. After 2007, countries with moderate values (about 60%) of this coefficient recorded higher rates of growth in real GDP. A U-shaped relationship between the depth of financial markets and economic growth was identified. However the optimal level of development of stock markets was much higher in 2001-2007 than after the Lehman Brothers bankruptcy

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The Nexus between Carbon Emissions, Energy Use, Economic Growth and Financial Development: Evidence from Central and Eastern European Countries

Sustainability ◽

10.3390/su12187747 ◽

2020 ◽

Vol 12 (18) ◽

pp. 7747

Author(s):

Alina Georgiana Manta ◽

Nicoleta Mihaela Florea ◽

Roxana Maria Bădîrcea ◽

Jenica Popescu ◽

Daniel Cîrciumaru ◽

...

Keyword(s):

Economic Growth ◽

Granger Causality ◽

Co2 Emissions ◽

Financial Development ◽

Carbon Dioxide Emissions ◽

Energy Use ◽

Ordinary Least Squares ◽

European Countries ◽

Eastern European ◽

Eastern European Countries

The aim and novelty of this study consist of estimating the nexus between CO2 (carbon dioxide) emissions, energy use, economic growth, and financial development for ten Central and Eastern European countries (CEEC) over the 2000–2017 period, starting from Environmental Kuznets Curve (EKC) theory. The Fully Modified Ordinary Least Squares (FMOLS) method was used for testing the cointegration relationship. Granger causality estimation based on the Vector Error Correction Model (VECM) and Pairwise Granger causality test were applied to identify the causality relationships between the variables and to identify the direction of causality. The implementation of the tests led to significant conclusions. In the long run, the levels of CO2 emissions and energy use do not have any influence on economic growth. Furthermore, there is a bidirectional causality among economic growth in terms of GDP and financial development variables. Thus, increasing financial development will generate more CO2 emissions and more energy use, and increasing economic growth will lead to rising financial development. In the short run, increasing financial development will generate more CO2 emissions and will lead to increased energy use and economic growth. Also, a bidirectional causality is being revealed between financial development and CO2 emissions. This indicates that financial development may help to reduce CO2 emissions.

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Openness and Financial Development in Central and Eastern European Countries

Studies in Business and Economics ◽

10.1515/sbe-2017-0032 ◽

2017 ◽

Vol 12 (3) ◽

pp. 5-16 ◽

Cited By ~ 3

Author(s):

Yilmaz Bayar ◽

Fatma Akyuz ◽

Isil Erem

Keyword(s):

Financial Development ◽

Financial Sector ◽

European Countries ◽

Eastern European ◽

Oriented Growth ◽

Financial Openness ◽

Causality Test ◽

Financial Sector Development ◽

Asset Flows ◽

Eastern European Countries

Abstract Great numbers of countries have made the limitations loose on the transnational goods, services and capital flows and begun to follow a policy of export-oriented growth. Total value of global financial asset flows exceeded the value of global trade over time and financial markets have experienced considerable expansions in almost every country. This paper investigates the interaction between openness and financial development in 9 Central and Eastern European countries during 1996-2014 period employing cointegration test of Westerlund and Edgerton (2007) and causality test of Dumitrescu and Hurlin (2012). We reached that openness affected financial sector development positively in the long term. Furthermore, there was one-way causality from financial openness to financial sector development.

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Knowledge about basic life support in European students

Orvosi Hetilap ◽

10.1556/oh.2014.29898 ◽

2014 ◽

Vol 155 (21) ◽

pp. 833-837 ◽

Cited By ~ 1

Author(s):

József Marton ◽

Attila Pandúr ◽

Emese Pék ◽

Krisztina Deutsch ◽

Bálint Bánfai ◽

...

Keyword(s):

Basic Life Support ◽

Life Support ◽

European Countries ◽

Eastern European ◽

Knowledge And Skills ◽

European Students ◽

Western European ◽

Eastern European Countries ◽

European Youth

Introduction: Better knowledge and skills of basic life support can save millions of lives each year in Europe. Aim: The aim of this study was to measure the knowledge about basic life support in European students. Method: From 13 European countries 1527 volunteer participated in the survey. The questionnaire consisted of socio-demographic questions and knowledge regarding basic life support. The maximum possible score was 18. Results: Those participants who had basic life support training earned 11.91 points, while those who had not participated in lifesaving education had 9.6 points (p<0.001). Participants from former socialist Eastern European countries reached 10.13 points, while Western Europeans had average 10.85 points (p<0.001). The best results were detected among the Swedish students, and the worst among the Belgians. Conclusions: Based on the results, there are significant differences in the knowledge about basic life support between students from different European countries. Western European youth, and those who were trained had better performance. Orv. Hetil., 2014, 155(21), 833–837.

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