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.

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.

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

Must Eastern Europe follow the Latin American way?

1992 ◽  
Vol 33 (1) ◽  
pp. 151-179 ◽  
Author(s):  
Barbara A. Misztal
Keyword(s):  
Latin American ◽  
Political Institutions ◽  
European Countries ◽  
Eastern European ◽  
Economic Policies ◽  
Political Resistance ◽  
East European ◽  
Democratic Regimes ◽  
Eastern European Countries ◽  
The Impact

Almost a decade after the wave of transformations from authoritarian to democratic regimes started in Latin America, Eastern European countries, one after another, entered the path leading towards democracy. The end of 1989 and the first part of 1990 saw unheard of numbers of free elections in ten Latin American and all East European countries (with the exception of Poland, where freedom of the first election was limited). Moreover, all the newly elected rulers won office on a promise to liberalise their economies. However, many commentators and scholars fear the impact on populations of painful structural reform policies and predict that new democracies in both regions either will not stay democratic for long or will not carry out a full package of economic reforms. They predict that half-hearted efforts at stabilisation will be followed by overwhelming political resistance which will provoke a reversal of economic policies. Each failure will reduce the credibility of successive reform attempts, the ultimate consequence being not merely economic disarray but an almost total loss of faith in democratic political institutions.

scholarly journals History of sports medicine in east European countries

2015 ◽  
Vol 68 (1-2) ◽  
pp. 59-65
Author(s):  
Biljana Lazovic ◽  
Sanja Mazic ◽  
Marina Djelic ◽  
Jelena Suzic-Lazic ◽  
Radmila Sparic ◽  
...  
Keyword(s):  
Sports Medicine ◽  
Medical Knowledge ◽  
European Countries ◽  
Historical Background ◽  
Eastern European ◽  
Cultural Changes ◽  
East European ◽  
Psychological Pressure ◽  
History Of ◽  
Eastern European Countries

The purpose of this article is to provide a historical background of medicine, science and sports with the focus on the development of modern sports medicine in European countries, with an accent on Eastern European countries that have a long sports medicine tradition. The development of modern sports medicine began at the end of 19th and the beginning of 20th century, and it has been associated with social and cultural changes in the world of medicine, science and sports. Advanced medical knowledge, skills and practices, and the progress of scientific achievements enabled sports people to improve their performance level. Increased popularisation and commercialisation of sports have resulted from urbanization and city lifestyle, leading to the lack of physical activity and increased psychological pressure. In addition, the growing need and interest in sports and successes in professional sports have become a symbol of international recognition and prestige for the nations.

scholarly journals "FINANCIAL EDUCATION IN EASTERN EUROPEAN COUNTRIES"

2020 ◽  
Vol 13(62) (2) ◽  
pp. 125-132
Author(s):  
Nicoleta Geanina Bostan
Keyword(s):  
Financial Literacy ◽  
Population Policy ◽  
Financial Education ◽  
European Countries ◽  
Eastern European ◽  
The European Union ◽  
Non Profit ◽  
East European ◽  
The Status ◽  
Eastern European Countries

"In the context of economic disparities among the countries of the European Union, the paper analyses the status of financial literacy for people living in East European countries, the way to increase financial knowledge through financial education and finally leading to a higher and more effective financial inclusion. Economic gaps are a major challenge for Eastern European countries. Their recovery can be done through efficient public policies harmonized with actions to increase the degree of financial education of the population. Policy makers, public institutions and non-profit organisation involved in financial education matters can benefit from this analysis and conclusion just as much as researchers. "

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