scholarly journals Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries

2020 ◽  
Vol 22 (2) ◽  
pp. 5-33
Author(s):  
Ljubivoje Radonjić ◽  
◽  
Nevena Veselinović ◽  
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Primary Objective ◽  
Output Growth ◽  
European Countries ◽  
Eastern European ◽  
Innovation Activities ◽  
Private And Public ◽  
Eastern European Countries ◽  
The Impact

The primary objective of the article is to examine the nexus between inflation, R&D, patents, and economic growth within a group of Central and Eastern European countries (CEECs). The examination is conducted in two parts. First, the impact of total R&D expenditures on economic growth is observed, as well as the influence of growth on private and public R&D investments. Second, the conversion from private and public R&D investment to innovation, measured by the number of patents, is observed. Throughout the analysis, economic growth and inflation are representative of macroeconomic stability. The outcomes of the panel auto-regressive distributed lag estimation indicate that total R&D expenditures are essential and positively significant for economic growth in the observed countries. The results also show that output growth has a remarkably positive impact on generating private R&D expenditures. Such an influence is also found, but at a weaker level, in the case of public R&D expenditures. In this part of the analysis, inflation has demonstrated a harmful influence on R&D expenditures. The results of the second part indicate that public and private R&D expenditures, at a significant level, generate innovation activities, while the impact of inflation has proven to be unimportant.

The Impact of Information and Communication Technologies on Economic Growth and Electricity Consumption

2020 ◽  
pp. 307-324
Author(s):  
Burcu Berke ◽  
Gülsüm Akarsu ◽  
Gökhan Obay
Keyword(s):  
Economic Growth ◽  
Information And Communication Technologies ◽  
Electricity Consumption ◽  
Communication Technologies ◽  
European Countries ◽  
Eastern European ◽  
Economic Variables ◽  
Information And Communication ◽  
Eastern European Countries ◽  
The Impact

Information overload is an important issue in the digital economy. Although, information can be easily accessed and disseminated by widespread use of information and communication technologies (ICT) since 1990s; among countries, there are still significant disparities in information access and utilization as well as ICT access and usage. ICT affect economy, industries and companies holistically and have important functions like increasing economic growth and promoting development. The basic purpose of this study is to analyze the impact of ICT on economic growth and electricity consumption for a group of Balkan and Eastern European countries by using other economic variables that affect electricity consumption and growth, such as income and electricity consumption for control purposes. This study employed a panel data method on a group of Balkan and Eastern European countries to verify the effect of other economic variables, primarily electricity consumption and found that ICT had positive impacts on economic growth.

scholarly journals Economic Growth, Corporate Earnings And Equity Returns: Evidence From Central And Eastern European Countries

2016 ◽  
Vol 19 (3) ◽  
pp. 93-111
Author(s):  
Jerzy Gajdka ◽  
Piotr Pietraszewski
Keyword(s):  
Economic Growth ◽  
Stock Returns ◽  
Emerging Market ◽  
Equity Returns ◽  
European Countries ◽  
Gdp Growth ◽  
Eastern European ◽  
Corporate Earnings ◽  
Eastern European Countries ◽  
The Impact

This paper discusses the links between economic growth, corporate earnings and stock returns. Cross-country correlation studies do not confirm the intuitive assumption that higher returns on equities are more likely in the fastergrowing countries. The problem can be analysed more deeply by analysing stock returns with respect to the growth of earnings per share (EPS) and changes in valuation (P/E ratio). Within this framework, two types of factors explaining the lack of correlation between GDP growth and stock returns are distinguished. The empirical research on developed and emerging market countries reveals that in the long run stock price returns are driven by companies’ earnings, and that the lack of correlation between GDP growth and equity returns is almost fully explained by the divergence between GDP growth and EPS growth. In this article the results of an investigation into this area, based on a sample of post-communist Central and Eastern European countries, are presented and discussed. It was found that in these countries changes in valuation (P/E ratio) appear to play an important role, cancelling the impact of EPS growth on stock returns.

scholarly journals Job Polarization in Europe: Evidence from Central and Eastern European Countries

2020 ◽  
Vol 11 (1) ◽  
pp. 52-74
Author(s):  
Dennis Nchor ◽  
Petr Rozmahel
Keyword(s):  
Positive Impact ◽  
European Countries ◽  
Eastern European ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Job Polarization ◽  
Eastern European Countries ◽  
Impact Of Technology ◽  
The Impact ◽  
High Skill

Abstract Job polarization simply refers to the decline or disappearance of employment in middle skill occupations. Recent literature focuses on this phenomenon as a source of rising income inequality in countries. The hypothesis is that growth in employment over the last decades has favoured jobs at the low and high skill occupations with declines in employment shares in the middle of the distribution. First, this paper seeks to investigate whether labour polarization occurs in Central and Eastern European countries. Secondly, the paper assesses the role of technology on employment in the Central and Eastern European countries. Using employment shares and a cointegrated panel autoregressive distributed lag model, the paper presents comprehensive results on labour polarization and the impact of technology on employment in the labour markets of the Central and Eastern European countries. The results show positive impact of technology on high skill employment while negative on low and middle skill employment in the long-run. The study finds that though middle skill employment shares declined, there is no clear case of a U-shape employment distribution to indicate labour polarization.

scholarly journals Spillover Index Approach in Investigating the Linkage between International Tourism and Economic growth in Central and Eastern European Countries

2020 ◽  
Vol 12 (18) ◽  
pp. 7604
Author(s):  
Viorica Chirilă ◽  
Gina Ionela Butnaru ◽  
Ciprian Chirilă
Keyword(s):  
Economic Growth ◽  
Point Of View ◽  
European Countries ◽  
International Tourism ◽  
Eastern European ◽  
East European ◽  
Index Approach ◽  
Eastern European Countries ◽  
The Impact ◽  
The Relationship

The present study analyses the relationship between economic growth and tourism growth at the level of Central and East European countries, using the spillover indices approach. Based on the monthly data obtained for the period 2000–2019, the analysis of this paper presents certain empirical results. Firstly, the relationship economic growth-international tourism grow is not stable over time, both from the point of view of its size and its direction, which suggests that the specific activities of international tourism contribute to the economic growth and hypotheses according to which international tourism growth causes economic growth are time-dependent. Secondly, the relationship economic growth-international tourism growth is dependent on certain major events, such as the economic and financial crisis that started in 2008 and the debt crises from 2010. The results obtained show that the impact of these events influences the direction of the relationship between international tourism and economic growth which becomes more accentuated during the economic growth periods.

The Impact of Information and Communication Technologies on Economic Growth and Electricity Consumption

2017 ◽  
pp. 176-200
Author(s):  
Burcu Berke ◽  
Gülsüm Akarsu ◽  
Gökhan Obay
Keyword(s):  
Economic Growth ◽  
Information And Communication Technologies ◽  
Electricity Consumption ◽  
Communication Technologies ◽  
European Countries ◽  
Eastern European ◽  
Economic Variables ◽  
Information And Communication ◽  
Eastern European Countries ◽  
The Impact

Information overload is an important issue in the digital economy. Although, information can be easily accessed and disseminated by widespread use of information and communication technologies (ICT) since 1990s; among countries, there are still significant disparities in information access and utilization as well as ICT access and usage. ICT affect economy, industries and companies holistically and have important functions like increasing economic growth and promoting development. The basic purpose of this study is to analyze the impact of ICT on economic growth and electricity consumption for a group of Balkan and Eastern European countries by using other economic variables that affect electricity consumption and growth, such as income and electricity consumption for control purposes. This study employed a panel data method on a group of Balkan and Eastern European countries to verify the effect of other economic variables, primarily electricity consumption and found that ICT had positive impacts on economic growth.

scholarly journals Is there “too much finance” in central and eastern european countries?

2020 ◽  
Vol 2020 (2) ◽  
pp. 5-30
Author(s):  
Wojciech Grabowski ◽  
Iwona Maciejczyk-Bujnowicz
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Development ◽  
Optimal Level ◽  
European Countries ◽  
Eastern European ◽  
Financial Deepening ◽  
Markets And Institutions ◽  
Eastern European Countries ◽  
The Impact

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

scholarly journals Mining, Poverty, and Income Inequality in Central and Eastern European Countries: What Do the Data Tell Us?

2021 ◽  
Vol 24 (3) ◽  
pp. 7-25
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Income Inequality ◽  
Random Effects ◽  
Poverty Reduction ◽  
Common Ground ◽  
European Countries ◽  
Estimation Methods ◽  
Eastern European ◽  
Infrastructural Development ◽  
Eastern European Countries ◽  
The Impact

The study investigates the effect of mining on both poverty and income inequality in Central and Eastern European countries (CEECs) using econometric estimation methods with panel data spanning from 2009 to 2019. Another objective of this paper was to determine if the complementarity between mining and infrastructural development reduced poverty and or income inequality in CEECs. What triggered the study is the failure of the existing literature to have a common ground regarding the impact of mining on poverty and or income inequality. The existing literature on the subject matter is contradictory, mixed, and divergent; hence, it paves the way for further empirical tests. The study confirmed that the vicious cycle of poverty is relevant in CEECs. According to the dynamic generalized methods of moments (GMM), mining had a significant poverty reduction influence in CEECs. The dynamic GMM and random effects revealed that the complementarity between mining and infrastructural development also enhanced poverty reduction in CEECs. Random effects and pooled OLS shows that mining significantly reduced income inequality in CEECs. However, random effects and the dynamic GMM results indicate that income inequality was significantly reduced by the complementarity between mining and infrastructural development. The authorities in CEECs are therefore urged to implement mining growth and infrastructural development-oriented policies in order to successfully fight off the twin challenges of poverty and income inequality.

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