scholarly journals Selected countries of Eastern and Central Europe in the face of challenges of modern financial technologies (on the example of Robo-Advice)

2021 ◽  
Vol 12 (2) ◽  
pp. 153-165
Author(s):  
Krzysztof Waliszewski ◽  
Anna Warchlewska
Keyword(s):  
Central Europe ◽  
Secondary Data ◽  
Personal Finance ◽  
Eastern European ◽  
Technological Advancement ◽  
High Concentration ◽  
Finance Management ◽  
The Face ◽  
Eastern European Countries ◽  
High Level

The aim of this article is to diagnose the state of technological advancement in the field of personal finance in Eastern European countries on the example of automated financial advice. The considerations were based on the literature on the subject, and in the empirical part a critical analysis of secondary data from databases was made and the results of research on robo-advice and determinants that may affect the advancement of the use of modern tools in personal finance management were published. Based on the data analysis, it was concluded that technological sophistication in personal finance in the studied countries of Eastern and Central Europe was at a high level, as evidenced by the high concentration of assets and the growing number of robo-advice users.

Obstacles and Challenges of Business Succession in Central Europe

2019 ◽  
Vol 4 (5) ◽  
pp. 24-29 ◽  
Author(s):  
Jasmin Schiefer ◽  
Margarethe Überwimmer ◽  
Robert Füreder ◽  
Yasel Costa
Keyword(s):  
Central Europe ◽  
Social Issues ◽  
European Countries ◽  
Eastern European ◽  
Public Authorities ◽  
Policy Makers ◽  
Innovation Potential ◽  
Private Entrepreneurs ◽  
Eastern European Countries ◽  
Business Succession

The transfer of a business to the next generation is a very important issue entailing several different social and economic influences. Failed business successions cause a loss of jobs, company knowledge and innovation potential. Creating an environment where business transfer is supported should therefore be of major importance for company owners and for policy makers. For better succession planning it is important to know the obstacles and challenges associated with business succession. Especially Eastern European countries face many challenges as these countries have no experience in business succession. To analyze the obstacles and challenges of business succession in Central Europe, three Eastern countries (CZ, SK and PL) with no experience in business succession were analyzed and compared to Austria where half of family businesses are at least in their second generation. Literature analysis and two focus groups with stakeholders (local public authorities and private entrepreneurs) were undertaken in all four countries. The results show that one of the main obstacles and challenges for business succession is the absence of a successor. Especially in Austria, this is recognized as the main obstacle. The Eastern countries (CZ, SK and PL) face different challenges to Austria that can mainly be explained by the lack of experience and supporting schemes for business succession. Especially knowledge and awareness related obstacles play an important role in Eastern European countries. Business succession is an individual process involving many emotions; therefore psychological and social issues are perceived as a huge obstacle in each analyzed country. Austria has a lot of experience with successful business transfers and offers various support mechanisms. However, many similar problems to Eastern countries were detected. A change of the business succession environment and the raising of awareness of the topic is therefore necessary in all investigated countries.

Prosecuting high-level corruption in Eastern Europe

2018 ◽  
Vol 51 (3) ◽  
pp. 231-244 ◽  
Author(s):  
Maria Popova ◽  
Vincent Post
Keyword(s):  
Future Research ◽  
Criminal Prosecution ◽  
Eastern European ◽  
Political Actors ◽  
Individual Level ◽  
Country Level ◽  
The Government ◽  
Eastern European Countries ◽  
High Level ◽  
And Behavior

Do Eastern European courts effectively constrain politicians and uphold the rule of law? Criminal prosecution of grand (high-level) corruption can further the central principle of equal responsibility under the law by demonstrating that even powerful political actors have to submit to the laws of the land. This article introduces the Eastern European Corruption Prosecution Database, which contains entries for all cabinet ministers (927 in total) who served in a government that held office in one of seven post-Communist Eastern European countries since the late 1990s. The systematic data collection reveals that Bulgaria, Romania and Macedonia consistently indict more ministers than Croatia, the Czech Republic, and Poland; Slovakia has barely indicted anyone. We aim to start a research agenda by formulating hypotheses about which countries will see more corruption prosecutions and which ministers’ characteristics would make them more likely to face the court. We use the database to begin testing these hypotheses and find some evidence for several associations. We find no strong evidence that EU conditionality or membership raises the profile of the grand corruption issue or leads to more indictments. Party politics seems to affect the frequency of corruption indictments more than the structure and behavior of legal institutions. Indictment rates are lower when a former Communist party controls the government and individual ministers from junior coalition partners are more vulnerable to indictment than other ministers. The existence of a specialized anti-corruption prosecution or a more independent judiciary do not seem to lead to the indictment of more ministers on corruption charges. Finally, we discuss avenues of future research that our database opens, both for the analysis of country-level and individual-level variation.

scholarly journals Reaching the Objectives of Sustainable Development on the Basis of the Creative Industries – A South and Eastern European Analysis

2016 ◽  
Vol 63 (1) ◽  
pp. 109-116 ◽  
Author(s):  
Costică Mihai ◽  
Mioara Borza ◽  
Mihai Talmaciu
Keyword(s):  
Sustainable Development ◽  
Developed Countries ◽  
Individual Characteristics ◽  
Creative Industries ◽  
Eastern European ◽  
East European ◽  
Healthy Development ◽  
Eastern European Countries ◽  
The Developed Countries ◽  
High Level

The reduction of the development gap of South and East European economy compared with the rest of the developed countries represent an important condition to achieve the goal of „healthy development“ of European Union. High level of competitiveness in West European industries as well as new policy of sustainable development causes a rethinking of strategy of individual countries. Creative industries may contribute to the efficient utilization of local resources and individual characteristics. Using the culture like an “engine” of regional development, in South and Eastern Europe, countries can generate many positive and lasting effects on these economies. This article presents the role and evolution of creative goods and industries in South and Eastern European countries, and aims to prefigure their impact on sustainable development of these regions. The involvement of these goods in international trade may improve or rehabilitate the position of different economies at European level.

scholarly journals An Overview of Digital Entrepreneurship in Central and Eastern European Countries

2021 ◽  
Author(s):  
Mladen Turuk
Keyword(s):  
Information Technologies ◽  
Positive Impact ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
European Countries ◽  
Gdp Per Capita ◽  
Eastern European ◽  
Per Capita ◽  
Eastern European Countries ◽  
Digital Entrepreneurship

The aim of the study is to explore and present an overview of digital entrepreneurship in Central and Eastern European countries and to examine how certain components of the DESI index affect GDP per capita in CEE countries and in what way modern information technologies affect their economies. The paper uses secondary data sources, mostly scientific and professional journals from the studied area, DESI reports, Eurostat data, and other Internet sources. The first part of the paper presents a short introduction on digitization digital entrepreneurship and digital technologies. The second part provides a descriptive analysis of digital entrepreneurship indicators and explores business demography in the ICT sector while the third part refers to the analysis of the DESI index. The panel method on data from 2015 to 2019 was used to show the influence of the different DESI index components on the observed countries’ GDP per capita. The hypothesis that the components of the DESI index have a positive impact on GDP per capita has been partially confirmed. DESI rank, Connectivity and Human capital did not prove to be significant, while Use of internet services, Integration of digital technology, and Digital public services proved their significant positive effect.

scholarly journals Mapping Young NEETs Across Europe: Exploring the Institutional Configurations Promoting Youth Disengagement from Education and Employment

2021 ◽  
Author(s):  
Marie-Luise Assmann ◽  
Sven Broschinski
Keyword(s):  
Young People ◽  
Labour Market ◽  
Labour Force ◽  
European Countries ◽  
Eastern European ◽  
Term Care ◽  
Central Eastern ◽  
Employment Education ◽  
Eastern European Countries ◽  
High Level

AbstractOver the past decade, the number of young people neither in employment, education, or training (NEET) has reached a seriously high level in many European countries. Previous studies have illustrated the heterogeneity of this group and that they differ considerably across Europe. However, the reasons of these cross-country differences have hardly been investigated so far. This study explores how the rates of different NEET subgroups are conditioned by various institutional configurations by applying fuzzy-set Quantitative Comparative Analysis for 26 European countries using aggregated EU Labour Force Survey data from 2018. The analysis reveals that institutional causes of being NEET are as diverse as the group itself. Thus, high levels of young NEETs with care responsibilities are found in countries with a lack of family-related services in conjunction with weak formalised long-term care as it is true in mostly Central Eastern European countries. In contrast, high rates of NEETs with a disability are prevalent mainly in Northern European countries where generous and inefficient disability benefit schemes exist that create false incentives to stay away from the labour market. Finally, high proportions of unemployed and discouraged young NEETs are found in those countries hit hardest by the crisis and with high labour market rigidities, low vocational specificity, and a lack of active labour market policies like in the Southern and some Central Eastern European countries. The results illustrate that young people face very different barriers across Europe and that country-specific measures must be taken to reduce the number of NEETs in Europe.

scholarly journals Abandoned Hungarian workers and the political economy of care work in Austria

2018 ◽  
Vol 28 (4) ◽  
pp. 61-87
Author(s):  
Attila Melegh ◽  
Dóra Gábriel ◽  
Gabriella Gresits ◽  
Dalma Hámos
Keyword(s):  
Domestic Workers ◽  
Poverty Line ◽  
Low Fertility ◽  
The Political ◽  
Eastern European ◽  
Population Loss ◽  
Mass Migration ◽  
Eastern European Countries ◽  
High Level ◽  
Political Economic

In an era of globalization, the institutional system of mass migration is being substantially reorganized: its intensity and the variation in its forms are increasing. Global production chains combine diverse areas and different forms of work with varying wage levels by forming worldwide networks. In the Eastern European region, the growing level of emigration and relatively low fertility are leading to population loss. Hungary is not among the Eastern European countries with a high level of emigration; nevertheless, it faces serious challenges, particularly in some regions where after the transition losses of jobs were massive, and a greater proportion of people live under the poverty line than the national average. Our analysis is based on interviews, containing narrative and semi-structured parts, among domestic workers working mainly in Austria and Germany. The paper reveals possible causal mechanisms and the political economic structures behind this type of labour migration. We seek to understand how migrationrelated decisions are embedded in a global and highly unequal economic order.

scholarly journals The Role of European Funds in the Economic Development

2021 ◽  
pp. 75-89
Author(s):  
Ivascu Cosmin ◽  
Keyword(s):  
Economic Development ◽  
Eu Enlargement ◽  
Eastern European ◽  
New Members ◽  
Trade Relations ◽  
Common Policies ◽  
Eastern European Countries ◽  
High Level ◽  
Economical Growth ◽  
Dissemination Of Technology

European Union was created for enhancing the cooperation and economic development of country members. This very complex initiative is a long-term process that contributes to reduction of inequalities due to the expansion of trade relations, increased mobility of factors of production and dissemination of technology and gradually added more freedoms between countries and common policies in this respect. Among the main objectives of EU are economic and social cohesion, which must be achieved mainly by promoting the conditions for economic growth and reducing disparities between the levels of development of EU regions, ensuring a high level of employment and a balanced and sustainable economical growth. The European Funds are the financial instruments of the common policies, being significantly diversified and improved in the last decades. The EU enlargement implied new challenges and higher efforts to support such common policies from a very limited common budget. For new members from Eastern Europe that joined EU, these European Funds were seen as a very important and reliable support for boosting their economic development. This paper will discuss, from both theoretical and empirical perspectives, the possible impact of these funds on the economic development, with a specific focus on the Eastern European Countries (EEC).

scholarly journals Rectal Tumour Staging with Endorectal Ultrasound: Is There Any Difference between Western and Eastern European Countries?

2016 ◽  
Vol 2016 ◽  
pp. 1-7 ◽  
Author(s):  
Anna Fábián ◽  
Renáta Bor ◽  
Klaudia Farkas ◽  
Anita Bálint ◽  
Ágnes Milassin ◽  
...  
Keyword(s):  
Central Europe ◽  
Western Europe ◽  
Neoadjuvant Chemoradiotherapy ◽  
Good Alternative ◽  
Probe Type ◽  
Eastern European ◽  
Rectal Tumour ◽  
Staging Accuracy ◽  
Eastern European Countries ◽  
N Staging

Background. Rectal tumour management depends highly on locoregional extension. Rectal endoscopic ultrasound (ERUS) is a good alternative to computed tomography and magnetic resonance imaging. However, in Hungary only a small amount of rectal tumours is examined with ERUS.Methods. Our retrospective study (2006–2012) evaluates the diagnostic accuracy of ERUS and compares the results, the first data from Central Europe, with those from Western Europe. The effect of neoadjuvant therapy, rectal probe type, and investigator’s experience were also assessed.Results. 311 of the 647 ERUS assessed locoregional extension. Histological comparison was available in 177 cases: 67 patients underwent surgery alone; 110 received neoadjuvant chemoradiotherapy (CRT); ERUS preceded CRT in 77 and followed it in 33 patients. T-staging was accurate in 72% of primarily operated patients. N-staging was less accurate (62%). CRT impaired staging accuracy (64% and 59% for T- and N-staging). Rigid probes were more accurate (79%). At least 30 examinations are needed to master the technique.Conclusions. The sensitivity of ERUS complies with the literature. ERUS is easy to learn and more accurate in early stages but unnecessary for restaging after CRT. Staging accuracy is similar in Western and Central Europe, although the number of examinations should be increased.

scholarly journals Dollarization in Central and Eastern European countries: essence, genesis, interrelation

2020 ◽  
Vol 67 (6) ◽  
pp. 149-160
Author(s):  
S. Sheludko ◽  
T. Babych
Keyword(s):  
Money Supply ◽  
Foreign Currency ◽  
Three Dimensional ◽  
European Countries ◽  
Eastern European ◽  
Dimensional Classification ◽  
Key Factor ◽  
And Performance ◽  
Eastern European Countries ◽  
High Level

The paper is devoted to scientific-theoretical and econometric analysis of dollarization on the example of Central and Eastern European countries. The views of scientists on the essence of the investigated category are generalized; the presence of high degree pluralism, particularly among Ukrainian researchers is determined. The authors’ definition, according to which the necessary conditions for dollarization in the economy such as: the recognition by residents the ability of foreign currency to perform one or more national money’s functions and systematic use of such currency in cash and/or non-cash circulation is given. Three-dimensional classification of dollarization, consistent with the modern money theory, according to the criteria of penalty, state recognition and performance of specific money’s functions is presented. Genesis and manifestations of inferred types are investigated. The global level of commitment to the U.S. dollar as the most common settlement and reserve currency is defined according to the global statistics of cross-border payments and the currency composition of the official central banks’ reserves. Methodological approaches for determining the level of dollarization of the economy, the most common of which – dollarization of money supply according to IMF and external debt–to–GDP ratio illustrated by statistics of 9 Central and Eastern European countries with own currencies are analyzed. It is determined that the high level of dollarization indicates the substitutionary competition between national and foreign money, where the latter are considered as a key factor for entering the global financial and commodity markets. According to the results of construction, estimation and re-estimation of BVAR dollarization model of Ukraine, Belarus, Poland and Russia, the significant causal relationship between the share of the currency component in the money supply of Russia and Poland and the corresponding indicators of Belarus and Ukraine is proved. This substantiates the previous conclusions about the unity of the dollarization evolutionary logic in historically close economies. The need for further empirical research of provoking and restraining factors of dollarization in Central and Eastern European countries is emphasized.

scholarly journals POTENTIALS OF SMALL AIRLINES IN SOUTH-EASTERN EUROPEAN COUNTRIES UNDER THE NEW ECONOMIC CIRCUMSTANCES

2018 ◽  
Vol 9 (2) ◽  
pp. 24-49
Author(s):  
Konstantinos Malagas ◽  
Nikitas Nikitakos ◽  
Ayse Kucuk Yilmaz ◽  
Alexandros Argyrokastritis ◽  
Ebru Yazgan
Keyword(s):  
Eastern Europe ◽  
Relevant Literature ◽  
Secondary Data ◽  
Eastern European ◽  
Strategic Choices ◽  
South Eastern ◽  
South Eastern Europe ◽  
Eastern European Countries ◽  
Regional Jets ◽  
Depth Interviews

South-Eastern Europe holds a key geopolitical position and has a promising economy and aviation market. Small airlines operating in the region can succeed by taking advantage of the region’s characteristics and selecting appropriate strategies. This study’s objective is to examine the potentials of the region’s small airlines, focusing on their key strategic choices regarding destinations to serve, aircraft types to use, airports to operate from, and whether to operate independently or partner with larger carriers. In-depth interviews were conducted with key aviation experts from across the region, and secondary data were used to provide further insight. The study’s main findings show that small airlines may benefit from initially partnering with larger carriers, feeding their networks from secondary airports via regional jets and turboprops. This study adds to the relevant literature and may help managers from the region’s smaller and bigger airlines and airports identify new opportunities and develop sustainable strategies.

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