scholarly journals Homogeneity of Determinants in the Financial Sector and Investment in EU Countries

Economies ◽  
2020 ◽  
Vol 8 (1) ◽  
pp. 14
Author(s):  
Erika Urbankova ◽  
David Krizek
Keyword(s):  
Financial Markets ◽  
Statistical Method ◽  
Financial Sector ◽  
Developed Countries ◽  
Investment Activity ◽  
Eu Countries ◽  
Eu Member States ◽  
The Individual ◽  
The Impact ◽  
The Eu

This paper evaluates the homogeneity of the financial markets in European Union (EU) countries and the impact of determinants of the financial sector in individual EU countries on the investment by economic entities in the given countries. The objective of the paper is to evaluate the homogeneity of financial sectors in EU countries in terms of individual indicators. The paper also evaluates the interdependence between the loan amount (debt and liabilities of the financial sector) on one side and the selected investments on the other. This paper uses the statistical method of correlation analysis to determine the strength and closeness of dependence among indicators, and the multidimensional statistical method of cluster analysis to determine the homogeneity among the individual countries. The results show that, in terms of financial markets, there is still a difference between developed countries in terms of Gross Domestic Product and the rest of the EU Member States. However, in the case of investment activity that is no longer. Partial integration therefore takes place within the EU, in terms of financial markets.

scholarly journals The Financial Implications of the Coronavirus COVID-19 Pandemic: A Review

2021 ◽  
Vol 39 (68) ◽  
Author(s):  
Ilmir Nusratullin ◽  
Nikolay Mrochkovskiy ◽  
Raul Yarullin ◽  
Natalia Zamyatina ◽  
Oksana Solntseva
Keyword(s):  
Financial Markets ◽  
Government Regulation ◽  
Financial Sector ◽  
Developed Countries ◽  
Securities Markets ◽  
Bank Deposits ◽  
Economic Shock ◽  
Spread Of Infection ◽  
The Impact ◽  
Increased Pressure

The COVID-19 pandemic in 2020 was a real shock to the entire global community. It hit both the health systems of the infected countries and the economies. Border closures, quarantines for citizens and disruption of production caused economic shock to many organizations. First, the tourism and transport industry suffered, followed by agriculture and mining, and then all other industries. However, the economic crisis also caused some problems in the financial sector: increased risks of non-compliance with loans, cash outs of bank deposits, increased pressure on the insurance market, panic in commodity and securities markets. The purpose of this study is to examine the impact of COVID-19 on the financial system of developed countries. As part of this study, a review of scientific research in the field of pandemics and finances was conducted, how the spread of infection affected the economy, banking, financial markets, and government regulation in the financial sector as a whole.

scholarly journals AN OVERVIEW OF FISCAL CONSOLIDATION PROCESS IN THE EUROPEAN UNION

2014 ◽  
Author(s):  
Iulia Andreea Bucur ◽  
Mircea Muntean
Keyword(s):  
Sovereign Debt ◽  
The European Union ◽  
Fiscal Consolidation ◽  
Consolidation Process ◽  
Fiscal Effort ◽  
Eu Countries ◽  
Eu Member States ◽  
The Impact ◽  
The Eu

This paper aims to explore, based on theoretical and empirical research in the field and on data available on Eurostat and European Commission, in the context of financial significant imbalances and thus of the financial stress in the EU countries and especially in the Euro area, the main developments in the fiscal consolidation process given the fiscal effort of each country towards fiscal union. Since the financial crisis started in 2008, many EU Member States demonstrates an obvious macroeconomic imbalance which requires increased responsibility regarding fiscal developments. The impact of the crisis and the causes of sovereign debt high levels trends varied between EU countries as well as the budget deficit levels. Thus, the main priority for EU members must be the continuation of differentiated fiscal consolidation, given the specificities of each economy, favoring growth. The medium-term fiscal policy needs to focus on consolidating public finances along with restoring long-term sustainability.

scholarly journals Development of the Financial Markets in Turkey in Comparison with the EU Countries

2014 ◽  
Author(s):  
Sudi Apak ◽  
Mehmet Fatih Bayramoğlu
Keyword(s):  
Financial Markets ◽  
Capital Markets ◽  
Banking Sector ◽  
Financial Sector ◽  
Current Situation ◽  
Special Focus ◽  
Eu Countries ◽  
Financial Center ◽  
The Eu

The Turkish financial sector, especially the Turkish banking sector, demonstrates a growth tendency in recent years. Although this growth is observed to be steady, it has not reached a sufficient volume and the sources of growth are not healthy. In this study, the dimensions of the said growth in the Turkish financial sector are analyzed in comparison with the EU member countries, which are also the members of OECD, with respect to the competitiveness features of the countries and financial centers, banking sectors of the countries and the capital markets of the countries. The study presents an evaluation of the current situation with a special focus on Istanbul - a city planned to be a global financial center.

scholarly journals Financial modeling of the influence of factors on the mortgage rate in developed countries

2021 ◽  
Vol 247 ◽  
pp. 01065
Author(s):  
Mariia I. Ermilova
Keyword(s):  
Housing Market ◽  
Developed Countries ◽  
Housing Affordability ◽  
Housing Provision ◽  
Financial Modeling ◽  
Eu Countries ◽  
Mortgage Rate ◽  
The Impact ◽  
Statistical Indicators ◽  
The Eu

The article evaluates the impact of a certain list of factors on the main indicators of the development of the housing market, including its financing. Within the framework of the study, a system of statistical indicators was formed, which were divided into two blocks and their influence on each other and on the market was determined. It is essential to determine the mutual combination of housing provision and the level of GDP. According to the results of the study, a rating of the EU countries and Russia was formed in terms of housing affordability.

scholarly journals Digitalization of the EU Economies and People at Risk of Poverty or Social Exclusion

2020 ◽  
Vol 13 (7) ◽  
pp. 142 ◽  
Author(s):  
Aleksy Kwilinski ◽  
Oleksandr Vyshnevskyi ◽  
Henryk Dzwigol
Keyword(s):  
At Risk ◽  
Social Exclusion ◽  
Lower Percentage ◽  
Poverty Level ◽  
Member States ◽  
Population At Risk ◽  
Eu Countries ◽  
Eu Member States ◽  
The Impact ◽  
The Eu

Despite the fact that a comprehensive analysis of digitalization processes in the EU member states has been carried out, the impact of a country’s digitalization level on the risks of poverty and social exclusion requires further investigation. The purpose of the paper is to verify a hypothesis that a higher level of national digitalization provides positive trends in reducing the risks of poverty and social exclusion for the population. The Digital Economy and Society Index (DESI) was used to evaluate the digitalization levels of the EU countries. The indicator “People at risk of poverty or social exclusion” (AROPE) was applied to estimate the poverty level. As the main research methods, the authors used a comparative and correlation analysis with respect to the above-mentioned indicators, as well as the Monte Carlo method in order to evaluate the probability of a change in the indicator “population at risk of poverty or social exclusion” in 2021. The EU countries with higher digitalization levels have a lower percentage of the population at risk of poverty and social exclusion. However, a higher digitalization level of the EU member states does not provide an accelerated risk reduction of poverty and social exclusion. Statistical calculations with respect to the entire population of these countries mainly indicate reverse processes. At the same time, a further reduction of poverty and social exclusion level is less probable in the countries with a higher level of digitalization. For relatively poor segments of the population (the 1st and 2nd quintiles by income) in the EU member states, the level of digitalization does not play a significant role. For relatively wealthy segments of the population (the 3rd and 4th quintiles by income) the authors noticed a pattern: the higher the level of digitalization is, the lower the risk of poverty and social exclusion becomes. A pairwise comparison of countries with initially similar AROPE values showed that in most cases (3 out of 5), the countries with higher levels of digitalization showed a more significant reduction in poverty and social exclusion. However, the probability of further positive changes in this area is higher for the countries with a lower level of digitalization.

scholarly journals REAL CONVERGENCE AND EUROPEAN INTEGRATION WITH FOCUS ON THE NEW MEMBER STATES

2019 ◽  
pp. 215-228 ◽  
Author(s):  
Ovidiu Stoica ◽  
Angela Roman ◽  
Delia-Elena Diaconaşu
Keyword(s):  
Economic Crisis ◽  
Member States ◽  
Eu Countries ◽  
Eu Member States ◽  
Real Convergence ◽  
Convergence Process ◽  
Global Economic Crisis ◽  
The Impact ◽  
New Eu Member States ◽  
The Eu

Our paper aims to analyse the dynamics of real economic convergence and the impact of several macroeconomic and institutional factors on this process, within the EU countries for the period 1995-2018. Employing cross-sectional and panel data techniques, this paper examines both the level and dynamics of absolute and conditional convergence within the EU28 countries and identifies key drivers of economic growth within the EU28 and subsequent groups (the EU15 versus New EU Member States group), by taking into consideration the impact of the recent global economic crisis. We find that the real convergence process is quite uneven and unstable over the 1995-2018 period. Our results confirm the negative effects of the recent global economic crisis on per capita GDP growth, suggesting a weakening of the convergence process at the EU28 level, especially at the level of New EU Member States. In addition, we find that investment, the openness of the economy and the quality of the institutional framework represent the main drivers of real convergence within the EU countries.

scholarly journals Is Global Competitiveness Speeding Up the Growth in the EU? A Panel Data Analyis

2018 ◽  
Vol 28 (4) ◽  
pp. 1-23 ◽  
Author(s):  
Olimpia Neagu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Developed Countries ◽  
Time Span ◽  
Central European ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Global Competitiveness Index ◽  
The Impact ◽  
The Eu

Abstract The paper documents the impact of global competitiveness on economic growth in the EU Member States. In a panel data approach, for a time span of 10 years (2008- 2017), a validated influence of Global Competitiveness Index on annual rate of GDP in the EU countries was found. The impact is higher in the group of Eastern and Central European countries (ECE) than in the Western European (well developed) countries, as well as at European economy level.

scholarly journals Categorization of the EU Member States in the Context of Selected Multicriteria International Indices Using Cluster Analysis

2020 ◽  
Vol 20 (3) ◽  
pp. 379-401
Author(s):  
Erika Onuferová ◽  
Veronika Čabinová ◽  
Mária Matijová
Keyword(s):  
Cluster Analysis ◽  
Euclidean Distance ◽  
Rate Of Change ◽  
The European Union ◽  
Member States ◽  
Eu Countries ◽  
Eu Member States ◽  
Starting Point ◽  
The Individual ◽  
The Eu

AbstractThe main aim of the paper was to analyse the economic and social development of the European Union (EU) member states (28 countries) on the basis of selected five multicriteria indices (the Global Competitiveness Index, the Economic Freedom Index, the Global Innovation Index, the Corruption Perceptions Index, the Human Development Index). To perform settled aim, a multidimensional classification of EU countries for years 2011 and 2018 using cluster analysis was realized. The purpose of the analysis was to categorize the individual EU countries into clusters and to find out to what extent the position of EU member states has changed in terms of selected international indices over the analysed period. Based on the findings, it is arguable that a major part of the EU member states cluster into the same groups based on the selected indices assessment, regardless of the time period. However, six countries (Czech Republic, Estonia, Germany, Latvia, Lithuania, and United Kingdom) improved their position during the period under review and ranked into the cluster of more prosperous countries in 2018. The rate of change (improvement) was quantified at the level of 21.43%. Based on the results, Latvia and Lithuania were the most similar countries in terms of economic prosperity (Euclidean distance reached the level of 3.08), while the least similar countries were Greece and Sweden (Euclidean distance reached the level of 70.8). Declining Euclidean distances indicate that economic disparities of the individual EU countries have decreased in the period under review. This paper aims at developing the research to find out how, besides hierarchy, we can analyse the EU member states from the perspective of various multicriteria indices. The four proposed clusters could be used as a starting point for future policy reforms, pointing to the weaknesses of various countries.

scholarly journals MIGRATION FACTOR OF TRANSFORMATION OF THE POLITICAL LANDSCAPE IN THE EU COUNTRIES

2020 ◽  
Vol 6(16) (3) ◽  
pp. 116-125
Author(s):  
M. M. Agafoshin
Keyword(s):  
The Political ◽  
Eu Countries ◽  
Eu Member States ◽  
Political Landscape ◽  
Muslim Countries ◽  
Migration Flows ◽  
Migration Crisis ◽  
The Impact ◽  
European Migration ◽  
The Eu

The paper considers the impact of the European migration crisis, expressed in the intensification of migration flows from the Middle East (Syria and Iraq), on the change EU member States populations’ electoral preferences. The study reviews the elections to the European Parliament in 2009–2019. In addition, the article surveys the attitude of residents of EU countries to immigration and, in particular, to immigration from Muslim countries. The paper proves a tendency to increase the representation of anti-migrant parties, both at the European level and at the countries level.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

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