scholarly journals Multinational banks and the formation of debt-type economy in the countries of Central and Eastern Europe

2021 ◽  
Vol 129 ◽  
pp. 03036
Author(s):  
Roksolana Zapotichna ◽  
Fakhri Murshudli ◽  
Erkin Dilbazi
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
External Debt ◽  
Value Added ◽  
Statistical Correlation ◽  
Cross Border ◽  
Multinational Banks ◽  
Direct Cross ◽  
General Scientific ◽  
Lending Activity

Research background: Given the fact that multinational banks’ credit activity leads to the accumulation of external debt in the borrowing countries, which potentially contributes to the formation of a debt-type economy, more in-depth research of the scope and consequences of such impact on the example of specific recipients is required. Purpose of the article: The purpose of the article is to develop theoretical and methodological bases of the study of multinational banks’ lending activity in terms of debt-type economy on the example of the countries of Central and Eastern Europe. Methods: A system of general scientific and special research methods, namely, statistical (correlation analysis, in particular), structural-functional and comparative analysis, has been applied to achieve the above-mentioned purpose. Findings & Value added: The results of the study indicate that multinational banks’ direct cross-border lending remains an important source of external debt accumulation and the formation of a debt-type economy in the countries of Central and Eastern Europe. Based on the assessment of the external debt indicators of the countries under the study, it has been determined that they all can be classified as debt-type economies. At the same time, the countries of the group still remain significantly differentiated in terms of relative indicators of direct cross-border lending and external debt. It has been concluded that multinational banks’ aggressive lending strategy during the growth phase in the countries of Central and Eastern Europe has exacerbated the problem of external indebtedness during the recession phase.

scholarly journals Impact of phase shifting transformers on cross-border power flows in the Central and Eastern Europe region

2016 ◽  
Vol 64 (1) ◽  
pp. 127-133 ◽  
Author(s):  
R. Korab ◽  
R. Owczarek
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Active Power ◽  
Phase Shifting ◽  
Interconnected Systems ◽  
Effective Control ◽  
Cross Border ◽  
Tie Lines ◽  
Unscheduled Flows

Abstract Unscheduled power flows are a serious problem for the Central and Eastern Europe (CEE) region. One method of reducing these undesirable flows relies on the use of phase shifting transformers (PSTs). This paper presents how the installation of PSTs on the Polish-German and Czech-German borders affects cross-border power flows in the CEE region, as well as interactions between these devices. The essential parameters proposed for PSTs are based on the effects arising from the application of PSTs on the border between Poland and Germany. The results demonstrate that the use of PSTs in the CEE region can provide effective control of active power flows in tie-lines and significantly reduce unscheduled flows. However, the operation of these devices must be coordinated in order to achieve maximum controllability and to guarantee the secure operation of the interconnected systems.

scholarly journals Financialization and Income Inequality in Selected European Countries, 2004–2013

e-Finanse ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 20-32
Author(s):  
Grzegorz Golebiowski ◽  
Piotr Szczepankowski ◽  
Dorota Wisniewska
Keyword(s):  
Income Inequality ◽  
Eastern Europe ◽  
Gini Coefficient ◽  
Central And Eastern Europe ◽  
Value Added ◽  
European Countries ◽  
Total Employment ◽  
The Gini Coefficient ◽  
Synthetic Indicator ◽  
The Impact

Abstract The article examines the impact of financialization on income inequality between 2004 and 2013, through a panel analysis of seven European countries. Moreover, it attempts to examine differences in the perception of the phenomenon between the selected European countries belonging to the G-7 and countries from Central and Eastern Europe. The results demonstrate the existence of individual effects, which means that the level of inequality under examination is influenced predominantly by country-specific factors. The most significant correlation is noticeable between the level of unemployment and the degree of income inequality. An increase in unemployment is accompanied by a rise in the disproportions in the level of income that individual citizens have at their disposal whereas a decrease in the unemployment level contributes to an improvement of the GINI coefficient. Simultaneously, the results confirm the existence of significant correlations between the level of the GINI coefficient and such financialization indicators as the share of employment in finance in total employment and the contribution of the financial sector to total value added creation. The most prominent dependency was discovered when a constructed synthetic indicator was adopted as an indicator of financialization. At the same time, analysis of the synthetic country financialization indicator points to a conclusion that the level of financialization is higher in European countries belonging to the G-7 (especially Great Britain) than in countries from Central and Eastern Europe.

Convergent and Divergent Elements in the Reporting of Key Audit Matters at the Level of the Banking Sector from Central and Eastern Europe

2021 ◽  
Vol 19 (161) ◽  
pp. 130-144
Author(s):  
Aurelia STEFANESCU ◽  
◽  
Denis-Adrian LEVANTI ◽  
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Banking Sector ◽  
National Level ◽  
Value Added ◽  
Important Change ◽  
Audit Report ◽  
Firm Level ◽  
Audit Reports ◽  
Informational Value

The current economic turmoil manifested at international and national level is influencing the banking sector, situation which calls for an innovative approach to the informational value of the independent auditor’s report. In order to reduce the information asymmetry of the audit reports from a stakeholder’s perspective, competent authorities have issued a series of regulations aiming to change the structure and the content of these reports. The most important change relates to the reporting of the key audit matters, which are considered to bring many benefits to stakeholders. In this context, this research aims to identify, analyze and compare the key audit matters reported by the statutory auditors of credit institutions operating in Central and Eastern Europe. The results revealed that the reported key audit matters reflect the particularity of the industry and of the activities carried out by these institutions. Also, the research highlighted a portfolio of convergent and divergent elements in the key audit matters reporting both at the level of the analyzed territories and at audit firm level. The results of the research are useful to stakeholders of the banking industry, professional bodies and regulators from two perspectives: firstly, by generating value added to the informational value of the audit report and secondly, by building an informational symmetry of the audit report in relation to its stakeholders.

Looking for European solutions. Trade unions in Central and Eastern Europe striving for cross-border solidarity

2020 ◽  
Vol 26 (3) ◽  
pp. 307-323
Author(s):  
Jan Czarzasty ◽  
Sławomir Adamczyk ◽  
Barbara Surdykowska
Keyword(s):  
Eastern Europe ◽  
Trade Union ◽  
Trade Unions ◽  
Western Europe ◽  
Central And Eastern Europe ◽  
Industrial Relations ◽  
Common Interest ◽  
Factors Affecting ◽  
Cross Border ◽  
Uncertain Future

This article deals with the dilemmas faced by trade unions from Central and Eastern Europe (CEE) in the context of their relations with western European (EU-15) unions and the European Trade Union Confederation (ETUC). The issue of cross-border solidarity is re-examined, taking into account its historical meanings as well as current developments under the pressures of globalisation and EU integration. The article analyses key factors affecting East–West trade union relations – different views within the ETUC, discontinuities in European social dialogue, challenges faced by European works councils and the uncertain future of transnational company agreements. Major dilemmas CEE unions cope with vis-à-vis their western counterparts are outlined. The question of how to achieve a common interest platform for trade unions from Central and Eastern Europe and from western Europe is raised, followed by a suggestion that ‘downward convergence’ in industrial relations is bringing the two regions closer.

scholarly journals Application of the Perkal method for assessing competitiveness of the countries of Central and Eastern Europe

2017 ◽  
Vol 8 (3) ◽  
Author(s):  
Hanna Kruk ◽  
Anetta Waśniewska
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Value Added ◽  
Optimal Choice ◽  
Test Method ◽  
Level Indicator ◽  
Global Competitiveness ◽  
Strong Positive Relationship ◽  
Late Twentieth ◽  
National Economies

Research background: The changes that took place in the late twentieth century led to the transformation of the political system in the countries of Central and Eastern Europe (CEE). As a result, there has been an increase in the competitiveness of some of the economies among the CEE states. Due to different priorities and goals, these countries are also characterized by different levels in socio-economic development. Purpose of the article: The aim of the article is to identify the determinants affecting the competitiveness among the selected CEE countries. Methods: Based on Eurostat data, a set of determinants affecting competitiveness was established. A number of determinants have been eliminated in relation to the variation coefficient. At the same time, a classification of the level of competitiveness among the CEE countries has been made by using the Perkal method. The analysis used 14 selected indicators, 10 of which are considered as stimulating, and 4 as deteriorating the competitiveness of national economies. The result led to obtaining a synthetic level indicator of potential of the CEE countries. Findings & Value added: Following the findings of the conducted analysis, the highest economic competitiveness exists in Estonia and in the Czech Republic, while the lowest was found in Romania and Bulgaria. The results of the evaluation obtained with the Perkal method concerning the competitiveness of the CEE countries that belong to the EU are largely consistent with those presented in different global competitiveness rankings. However, the method applied in this article seems much simpler and less time-consuming, allowing at the same time an optimal choice of analytical determinants. The selected linear Pearson correlation’s coefficient confirmed that there is a strong positive relationship between the designated values of the synthetic indicator of competitiveness and the GDP per capita. This confirms the validity of test method used.

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