scholarly journals Financial Contagion Patterns in Individual Economic Sectors. The Day-of-the-Week Effect from the Polish, Russian and Romanian Markets

2021 ◽  
Vol 14 (9) ◽  
pp. 442
Author(s):  
Elena Valentina Țilică
Keyword(s):  
Oil And Gas ◽  
Financial Contagion ◽  
The Novel ◽  
Economic Sectors ◽  
2008 Financial Crisis ◽  
East European ◽  
Day Of The Week ◽  
The 2008 Financial Crisis ◽  
European Markets ◽  
Contagion Process

This paper studies the presence of the day-of-the-week (DOW) effect in the financial contagion process observed on individual economic sectors from the Post-Communist East European markets. The only markets that provide national-specific sector indices determined throughout the 2008 financial crisis are Poland, Romania and Russia. The novel methodology combines two existing perspectives from financial literature, by employing a GJR-GARCH framework on a dummy regression model that accounts for both the crisis period and the weekdays. All indices show the presence of the DOW effect during the crisis and/or non-crisis periods, thus signaling their low level of market efficiency. However, the contagion process affects only eight of these indices: the banking, IT and oil and gas sectors from Poland, the chemical, telecommunication and transport sectors from Russia and energy sectors from Russia and Romania. All of them show signs of the DOW effect in contagion: five exhibit higher spillovers on crisis Mondays, while the other three show other weekday patterns. The findings suggest that the DOW effect is not specific to certain countries or certain economic sectors.

scholarly journals Narratives of Inequality: Postcolonial Literary Economics.

2020 ◽  
Author(s):  
Asako Nakai
Keyword(s):  
Identity Politics ◽  
Fundamental Question ◽  
Global Capitalism ◽  
The Novel ◽  
2008 Financial Crisis ◽  
Cultural Contexts ◽  
Postcolonial Criticism ◽  
Historical Times ◽  
The 2008 Financial Crisis ◽  
Thomas Piketty

Whereas postcolonial criticism might have been entrapped into culturalism and identity politics, the novel, at least its best specimens, continues to address the more fundamental question of economic inequality whose relevance has been rediscovered since the 2008 financial crisis – or so Melissa Kennedy asserts in her latest book, Narratives of Inequality. The book offers an extensive survey of postcolonial fiction across different historical times and locations. Convinced that literary studies should play an important role in the critique of global capitalism along the lines of Thomas Piketty and Amartya Sen, Kennedy selects novels that explicitly handle economic vocabulary and subject-matter. According to her, these works register the same or similar structures of inequality regardless of their specific local, historical, and cultural contexts.

scholarly journals Domestic and Foreign Transmission of the Global Financial Crisis in the Real Economy. The Polish Situation

2021 ◽  
Vol 13 (1) ◽  
pp. 47-60
Author(s):  
Elena Valentina Tilica ◽  
Keyword(s):  
Financial Crisis ◽  
Food Industry ◽  
Oil And Gas ◽  
Global Financial Crisis ◽  
Real Economy ◽  
Economic Sectors ◽  
The Real ◽  
The Global Financial Crisis ◽  
Contagion Process

This paper studies the contagion process of the 2008 Global Financial Crisis through several important Polish economic sectors: chemical, construction, food, IT, media, oil & gas and telecommunication. The results show a signiÖcant di§erence between the response of these sectors to the crisis. Chemical, construction, media and oil and gas were a§ected, in di§erent degrees, by a domestic Önancial contagion. The food industry was ináuenced in a negligible degree by contagion, while the IT and telecommunication sectors showed a decrease of their co-movements with the Önancial sector, both foreign and domestic.

Hungary will be at risk from too-loose monetary policy

2018 ◽  
Keyword(s):  
Monetary Policy ◽  
Investor Sentiment ◽  
Financial Contagion ◽  
Bond Yields ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Central Eastern Europe ◽  
The Past ◽  
Current Account Deficits ◽  
The 2008 Financial Crisis

Subject Central Europe’s resilience to EM sell-off. Significance Central Europe’s economies have withstood intense recent selling pressure in emerging markets (EM), the longest sell-off since the 2008 financial crisis. A confluence of idiosyncratic and generic vulnerabilities has significantly undermined investor sentiment towards EM assets as a whole over the past several months. Yet the Polish zloty, one of the most liquid EM currencies, has risen by 2.6% against the dollar since end-May, and Hungary’s ten-year local bond yields are still significantly below their levels in the aftermath of the ‘taper tantrum’ in May 2013. Impacts Despite the 27% decline in Turkish equities since end-June, negligible trade links with Central Europe will limit financial contagion. In Central-Eastern Europe, Romania will be vulnerable because of its wide fiscal and current account deficits. Ten-year US Treasury yields are trading above 3%, increasing the risk of a sell-off in global debt markets if yields rise more sharply.

Mathematics without Apologies

2017 ◽  
Author(s):  
Michael Harris
Keyword(s):  
Number Theory ◽  
Financial Crisis ◽  
Pop Culture ◽  
First Century ◽  
2008 Financial Crisis ◽  
Dinner Party ◽  
Mathematical Life ◽  
Personal Experiences ◽  
The 2008 Financial Crisis ◽  
Guided Tour

What do pure mathematicians do, and why do they do it? Looking beyond the conventional answers, this book offers an eclectic panorama of the lives and values and hopes and fears of mathematicians in the twenty-first century, assembling material from a startlingly diverse assortment of scholarly, journalistic, and pop culture sources. Drawing on the author's personal experiences as well as the thoughts and opinions of mathematicians from Archimedes and Omar Khayyám to such contemporary giants as Alexander Grothendieck and Robert Langlands, the book reveals the charisma and romance of mathematics as well as its darker side. In this portrait of mathematics as a community united around a set of common intellectual, ethical, and existential challenges, the book touches on a wide variety of questions, such as: Are mathematicians to blame for the 2008 financial crisis? How can we talk about the ideas we were born too soon to understand? And how should you react if you are asked to explain number theory at a dinner party? The book takes readers on an unapologetic guided tour of the mathematical life, from the philosophy and sociology of mathematics to its reflections in film and popular music, with detours through the mathematical and mystical traditions of Russia, India, medieval Islam, the Bronx, and beyond.

Die Spur des Stoffs. Ermittlungsrausch in Friedrich Glausers Die Fieberkurve

2019 ◽  
Vol 48 (1) ◽  
pp. 57-89
Author(s):  
Mareike Schildmann
Keyword(s):  
Material Culture ◽  
Natural Resources ◽  
20Th Century ◽  
North Africa ◽  
Oil And Gas ◽  
Logical Structure ◽  
The Novel ◽  
Conservative Approach ◽  
Crime Novel ◽  
The 19Th Century

Abstract This article traces some of the fundamental poetological changes that the traditional crime novel undergoes in the work of the Swiss author Friedrich Glauser at the beginning of the 20th century. The rational-analytical, conservative approach of the criminal novel in the 19th century implied – according to Luc Boltanski – the separation of an epistemologically structured, institutionalized order of “reality” and a chaotic, unruly, unformatted “world” – a separation that is questioned, but reestablished in the dramaturgy of crime and its resolution. By shifting the attention from the logical structure of ‘whodunnit’ to the sensual material culture and “atmosphere” that surrounds actions and people, Glauser’s novels blur these epistemological and ontological boundaries. The article shows how in Die Fieberkurve, the second novel of Glauser’s famous Wachtmeister Studer-series, material and sensual substances develop a specific, powerful dynamic that dissipates, complicates, crosslinks, and confuses the objects and acts of investigation as well as its narration. The material spoors, dust, fibers, fingerprints, intoxicants and natural resources like oil and gas – which lead the investigation from Switzerland to North Africa – trigger a new sensual mode of perception and reception that replaces the reassuring criminological ideal of solution by the logic of “dissolution”. The novel thereby demonstrates the poetic impact of the slogan of modernity: matter matters.

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