scholarly journals Investigating the Energy–Economic Growth–Governance Nexus: Evidence from Central and Eastern European Countries

2019 ◽  
Vol 11 (12) ◽  
pp. 3355 ◽  
Author(s):  
Ana-Maria Bercu ◽  
Gigel Paraschiv ◽  
Dan Lupu
Keyword(s):  
Economic Growth ◽  
Poverty Reduction ◽  
Good Governance ◽  
Electricity Consumption ◽  
Energy System ◽  
European Countries ◽  
Eastern European ◽  
Eastern European Countries ◽  
Transmission And Distribution

Achieving the goals of sustainable development and poverty reduction implies an important condition for access to electricity for the entire population. In the economic literature, the relationship between electricity consumption and economic growth has different perspectives. The lack of good governance within an economy, besides the deficiencies of energy resources, is a key issue in worsening energy issues for developing countries. These countries have failed to alleviate the energy crises that have hindered development prospects, amid flourishing corruption and inefficient governments. Our research, using a panel methodology, analyzes the long-term relationship between energy consumption, economic growth and good governance for 14 Central and Eastern European countries, over the period 1995–2017. The study demonstrates empirically that there is a causal relationship between electricity consumption and economic growth, underlining the fact that deficiencies in the energy system lead to slowing economic growth. The study also shows that good governance influences electricity and Gross Domestic Product (GDP) consumption, and the governments from Central and Eastern European countries have to restore good governance in the economy, creating an environment conducive to investment in the energy sector, which would increase competition and reduce inefficiencies in the production, transmission, and distribution of energy.

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.

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 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.

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.

After 2008 Global Financial Crisis, Short-Term Dynamics of CDS, Bond, and Stock Markets in South Eastern European Economies

2013 ◽  
pp. 181-194
Author(s):  
Ali Sabri Taylan ◽  
Hüseyin Tatlidil
Keyword(s):  
Financial Crisis ◽  
Credit Risk ◽  
Stock Markets ◽  
European Countries ◽  
Stock Index ◽  
Bond Markets ◽  
Eastern European ◽  
South Eastern ◽  
Eastern European Countries

Credit risk pricing is perhaps an understudied topic in comparisons to its profound impact on the world’s financial markets and economies. This study uses established price discovery techniques to develop a method of price discovery for credit risk in three financial markets: equity, debt, and credit derivative. This chapter is motivated by the development of credit-related instruments and signals of stock price movements of South-Eastern European countries—Bulgaria, Croatia, Greece, Hungary, Romania, Slovenia, Slovakia, and Turkey—during the recent financial crisis. In this study, the authors evaluate the dynamics of fiscal risk or country risk measured by sovereign Credit Default Swap (CDS), liquidity risk measured bond markets, and stock markets for the monthly based September 2008 – February 2011 period. The study examines monthly data observing 38 months and 8 countries. A panel vector autoregression model is proposed for changes in Long-Term Interest Rate (LTIR), changes in CDS spreads (CDS), and changes in stock index. In conclusion, CDS markets and stock markets are more significant than bond markets in explaining the post-crisis relationship among developing South-Eastern European countries. The analysis displays that long-term monetary policy did not affect CDS premium and stock index level. A strong relationship is found between the CDS spread and stock market. During financial crisis and after the crisis, the correlations among CDS, stock, and bond markets are collapsed by panicked investors’ rapid movement and wild speculators. This risk perception can explain the difference between the finance theory and practices in the market.

scholarly journals Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries

2019 ◽  
Vol 11 (19) ◽  
pp. 5421 ◽  
Author(s):  
Ștefan Cristian Gherghina ◽  
Liliana Nicoleta Simionescu ◽  
Oana Simona Hudea
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Institutional Quality ◽  
European Countries ◽  
Transport Infrastructure ◽  
Eastern European ◽  
Long Run ◽  
Eastern European Countries

This study aims to examine the link between foreign direct investment (FDI) inflows and economic growth, also considering several institutional quality variables, as well as sustainable development goals (SDGs) set in the 2030 Agenda for Sustainable Development. By estimating panel data regression models for a sample of 11 Central and Eastern European countries, from 2003 to 2016, the empirical outcomes provide support for a non-linear relationship between FDI and gross domestic product per capita. Regarding institutional quality, it is found that control of corruption, government effectiveness, regulatory quality, rule of law, and voice and accountability positively influence growth, while political stability and absence of violence/terrorism is not statistically significant. Moreover, SDGs such as poverty, income distribution, education, innovation, transport infrastructure, and information technology are noteworthy drivers of growth. The outcomes of panel fully modified and dynamic ordinary least squares partly confirm the findings. The panel vector error-correction model Granger causalities provide support for a short-run one-way causal association running from FDI to growth and a long-run two-way causal connection among FDI and growth. Furthermore, in the long run, unidirectional causal relationships running from each institutional quality indicator to economic growth and FDI are set out.

scholarly journals Development Prospects of Banking Sector in Central and Eastern European Countries in Terms of Financial Integration

2021 ◽  
Vol 39 (7) ◽  
Author(s):  
Darya Chumachenko ◽  
Tatyana Derkach ◽  
Vitalina Babenko ◽  
Marharyta Krutko ◽  
Sergey Yakubovskiy ◽  
...  
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Financial Integration ◽  
Comparative Method ◽  
Financial Sector ◽  
Foreign Market ◽  
European Countries ◽  
Eastern European ◽  
Eastern European Countries ◽  
New Eu Members

This study examines banking transformations in Central and Eastern Europe (CEE) under conditions of economic liberalization, dependence between economic development of countries and efficiency of their banking systems. The comparative method and methods of economic-mathematical modeling were applied. Considering the positive correlation between financial structure and economic growth, confirmed by literature findings, the development of the financial sector can become a crucial factor in convergence for the new EU members. Analysis revealed lower depth of financial sector in Central and Eastern European countries region in comparison to the Eurozone, but higher efficiency and growth rates. Regression models confirmed the significant causality between financial sector expansion and economic growth of CEE countries, but extremely high foreign market shares in the banking sector of region create prerequisites for financial shocks transmission through contagion channel in case of economic instability in the countries of banks’ origin.

scholarly journals Fatal injuries and economic development in the population sample of Central and Eastern European Countries: the perspective of adolescents

2020 ◽  
Vol 65 (8) ◽  
pp. 1403-1412
Author(s):  
Michal Miovsky ◽  
Beata Gavurova ◽  
Viera Ivankova ◽  
Martin Rigelsky ◽  
Jaroslav Sejvl
Keyword(s):  
Economic Growth ◽  
Population Group ◽  
European Countries ◽  
Economic Indicators ◽  
Young Generation ◽  
Eastern European ◽  
Injury Mortality ◽  
And Gender ◽  
Eastern European Countries ◽  
Fatal Injuries

Abstract Objectives Researches consider the young generation (adolescents) to be the population group whose mortality from injury has the lowest effect on economic growth. The objective was to evaluate the relations between economic indicators and preventable injury mortality in Central and Eastern European Countries (CEECs), with a primary focus on adolescents. Methods The analyses included health indicators of preventable injury mortality and economic indicators that represent human development and economic growth in the CEECs from 1990 to 2016. The analytical process involved a population group divided by age (0–14 years: children, 15–24 years: adolescents, 25–74 years: adults) and gender. Descriptive analysis, cluster analysis and primarily panel regression analysis were used. Results Significant effects of economic indicators on drowning were found in all analysed relations. In the group of adolescents, significant effects of fatal falls were found. Overall, it can be concluded that the effects of fatal injuries are not homogenous between age and gender groups. Conclusions The effects of years and individual countries should be taken into account in the cross-sectional analyses. In terms of economic growth, public policies should focus on drowning in children, on falls in adolescents and on transport accidents, fire injuries and poisoning in adults.

scholarly journals Smoking epidemic in Europe in the 21st century

2020 ◽  
pp. tobaccocontrol-2020-055658 ◽  
Author(s):  
Fanny Janssen ◽  
Shady El Gewily ◽  
Anastasios Bardoutsos
Keyword(s):  
Western Europe ◽  
Wave Pattern ◽  
European Countries ◽  
Attributable Mortality ◽  
Eastern European ◽  
Short Term ◽  
Forecasting Method ◽  
Eastern European Countries ◽  
Recent Cohort

ObjectiveTo estimate smoking-attributable mortality in the long-term future in 29 European countries using a novel data-driven forecasting approach that integrates the wave pattern of the smoking epidemic and the cohort dimension.MethodsWe estimated and forecasted age-specific and age-standardised smoking-attributable mortality fractions (SAMF) and 95% projection intervals for 29 European countries by sex, 1950–2100, using age-period-cohort modelling with a generalised logit link function. We projected the (decelerating) period increases (women) by a quadratic curve to obtain future declines, and extrapolated the past period decline (men). In addition, we extrapolated the recent cohort trend.ResultsSAMF among men are projected to decline from, on average, 25% in 2014 (11% (Sweden)—41% (Hungary)) to 11% in 2040 (range: 6.3%–15.4%), 7% in 2065 (range: 5.9%–9.4%) and 6% in 2100. SAMF among women in 21 non-Eastern European countries, currently at an average of 16%, are projected to reach peak levels in 2013 (Northern Europe), 2019 (Western Europe), 2027 (Greece, Italy) and 2022 (Central Europe), with maximum levels of, on average, 17% (8% (Greece)—28% (Denmark)), and to decline to 10% in 2040 (range: 4%–20%), 5% in 2065 (range: 3.5%–7.6%) and 4% in 2100. For women, a short-term shift in the peak of the inverse U-shaped age pattern to higher ages is projected, and crossovers between the age-specific trends.ConclusionOur novel forecasting method enabled realistic estimates of the mortality imprint of the smoking epidemic in Europe up to 2100. The high peak values in smoking-attributable mortality projected for women warrant attention.

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