Review of Economic Perspectives最新文献_第8页

Assessment of Priorities of Construction of High-Speed Rail in the Czech Republic in Terms of Impacts on Internal and External Integration 基于内外一体化影响的捷克高铁建设优先级评估

IF 0.7

Review of Economic Perspectives Pub Date : 2020-06-01 DOI: 10.2478/revecp-2020-0010

V. Pařil, M. Viturka

{"title":"Assessment of Priorities of Construction of High-Speed Rail in the Czech Republic in Terms of Impacts on Internal and External Integration","authors":"V. Pařil, M. Viturka","doi":"10.2478/revecp-2020-0010","DOIUrl":"https://doi.org/10.2478/revecp-2020-0010","url":null,"abstract":"Abstract The priorities assessment for the planned construction of high-speed rail/HSR in the Czech Republic in terms of impacts on internal and external integration is a though-provoking topic not only from the technical and economic, but also from the social and geographical point of view. Its primary basis is the application of the gravity model, according to which the planned route C Prague-Wien has the most significant potential in passenger transport. Then following routes are A Prague-Berlin, B Prague-München, and D Brno-Katowice. Subsequently, the likely impacts generated by a significant improvement in the quality parameters and hence the competitive position of rail transport were assessed, including the potential for shifting part of the demand from the road and air transport to HSR. Overall, however, it can be stated that the potential impacts of the HSR on the growth of passenger transport in the Czech Republic will not be essential. To perceive the regional impacts of HSR construction, analyses of selected indicators (population density per km2, GDP per capita, unemployment rate) by NUTS 3 regions for the period 2007-2017 were also carried out. From the strategic point of view, the research results did not confirm that the planned construction of the HSR primarily stimulates convergence tendencies in regional development as the main priority of EU regional policy. Rather, it seems more likely that the HSR will stimulate the extraction of economic activity from “rural” regions in favour of metropolitan regions.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43360010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The Effect of Economic Conditions on Accounting Conservatism under IFRS in Europe 欧洲经济状况对IFRS下会计稳健性的影响

IF 0.7

Review of Economic Perspectives Pub Date : 2020-06-01 DOI: 10.2478/revecp-2020-0007

Antonio Cerqueira, Cláudia Pereira

{"title":"The Effect of Economic Conditions on Accounting Conservatism under IFRS in Europe","authors":"Antonio Cerqueira, Cláudia Pereira","doi":"10.2478/revecp-2020-0007","DOIUrl":"https://doi.org/10.2478/revecp-2020-0007","url":null,"abstract":"Abstract We analyse in detail conservative accounting practices in seventeen European countries, taking into account institutional factors. In addition, we examine the impact of IFRS adoption and the influence of changes in economic conditions on conditional conservatism. Specifically, we study the level of accounting conservatism before and after IFRS adoption detailing for the pre and crisis period and post-crisis period surrounding the 2007/2008 financial crisis. Our findings are consistent with a conservative accounting practice in Europe as a whole and in each country individually. Besides, opposite to that expected, the results provide evidence of more conservative accounting practice in Anglo-Saxon countries, but we find no significant differences in conservatism in Nordic countries. Another finding is a significant decrease in the level of conservatism after IFRS adoption. Regarding the joint impact of IFRS adoption and economic conditions, we find a decrease in conservatism in the pre and crisis period, followed by a substantial increase in the post-crisis period. Our results seem to be in line with the positive accounting theory when suggesting that conservatism plays a fundamental role as corporate governance and efficient contracting mechanism between managers and other stakeholders of the firm. Furthermore, the results suggest that the flexibility provided by IFRS allows adjusting the level of conservatism when economic conditions change.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43489454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 9

Spillover effects of unconventional monetary policy on capital markets in the shadow of the Eurozone: A sample of non-Eurozone countries 欧元区阴影下非常规货币政策对资本市场的溢出效应：非欧元区国家样本

IF 0.7

Review of Economic Perspectives Pub Date : 2020-06-01 DOI: 10.2478/revecp-2020-0008

Mercédesz Mészáros, G. Kiss

{"title":"Spillover effects of unconventional monetary policy on capital markets in the shadow of the Eurozone: A sample of non-Eurozone countries","authors":"Mercédesz Mészáros, G. Kiss","doi":"10.2478/revecp-2020-0008","DOIUrl":"https://doi.org/10.2478/revecp-2020-0008","url":null,"abstract":"Abstract The transmission mechanism has been dominated by direct monetary measures since the crisis of 2008. While the indirect impacts of the unconventional monetary instruments have not been fully explored yet. Monetary policy and funding conditions determine pricing sentiments for bond, stock and currency markets, represented by the volatilities of their main indicators: stock market indices, exchange rates, and yield premia. Our theoretical model takes spillover effects into account when it determines the variables which are responsible for volatility: the activities of international financial institutions (like the ESM or the IMF) are represented by dummy variables, while the limited autonomy in the shadow of the ECB is captured through gravity-like approaches. Six EU member states outside the Eurozone and Switzerland were analysed between 2007 and 2019 with random effect panel regression models to identify the differences in the impact of spillover effects on capital market volatilities. The results obtained are considered to be useful in mapping the potential effects of continuing monetary easing in the near future.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47424627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Are “fair” wages quantitatively important for business cycle fluctuations in Bulgaria? “公平”工资对保加利亚商业周期波动在数量上是否重要？

IF 0.7

Review of Economic Perspectives Pub Date : 2020-03-01 DOI: 10.2478/revecp-2020-0005

Aleksandar Vasilev

引用次数: 2

Relationships between exchange rate regime, real exchange rate volatility and currency structure of government bonds in emerging markets 新兴市场国家政府债券汇率制度、实际汇率波动与货币结构的关系

IF 0.7

Review of Economic Perspectives Pub Date : 2020-03-01 DOI: 10.2478/revecp-2020-0001

Viktar Dudzich

{"title":"Relationships between exchange rate regime, real exchange rate volatility and currency structure of government bonds in emerging markets","authors":"Viktar Dudzich","doi":"10.2478/revecp-2020-0001","DOIUrl":"https://doi.org/10.2478/revecp-2020-0001","url":null,"abstract":"Abstract Public foreign currency borrowing is a common problem of emerging markets. Scholars named it the original sin of foreign debt. It has a proven negative influence on economic growth and development, undermining financial stability, and increasing the probability of monetary crises. The roots of the original sin often lay in emerging markets’ institutional underdevelopment, with low-quality monetary policy, inappropriate exchange rate regime choice, and exchange rate mismanagement being stated among the most important causes. This paper evaluates the influence of the exchange rate policy on the emission of foreign currency sovereign bonds in emerging markets. The relationship is estimated using panel data and GMM approach, with exchange rate regime type (both de jure and de facto) and real exchange rate volatility serving as explanatory variables. The findings reveal that fixed exchange rate regime and high real exchange rate volatility is promoting the foreign currency borrowing. Thus countries that want to reduce the burden of the original sin should lean towards a more flexible exchange rate policy while maintaining their real exchange rate stable.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43927230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Economic Freedom and its Impact on Foreign Direct Investment: Global Overview 经济自由及其对外国直接投资的影响:全球概览

IF 0.7

Review of Economic Perspectives Pub Date : 2020-03-01 DOI: 10.2478/revecp-2020-0004

Devesh Singh, Zoltán Gál

引用次数: 23

Determinants of private investments in Turkey: Examining the role of democracy 土耳其私人投资的决定因素：考察民主的作用

IF 0.7

Review of Economic Perspectives Pub Date : 2020-03-01 DOI: 10.2478/revecp-2020-0002

Selçuk Akçay, Alper Karasoy

引用次数: 3

The effect of financial development on income inequality in Turkey: An estimate of the Greenwood-Jovanovic hypothesis 金融发展对土耳其收入不平等的影响:对Greenwood-Jovanovic假设的估计

IF 0.7

Review of Economic Perspectives Pub Date : 2019-12-01 DOI: 10.2478/revecp-2019-0017

Emrah Koçak, Nisfet Uzay

{"title":"The effect of financial development on income inequality in Turkey: An estimate of the Greenwood-Jovanovic hypothesis","authors":"Emrah Koçak, Nisfet Uzay","doi":"10.2478/revecp-2019-0017","DOIUrl":"https://doi.org/10.2478/revecp-2019-0017","url":null,"abstract":"Abstract This paper is the first to examine the linear and nonlinear effect of financial development on income inequality in Turkey over the period of 1980-2013. Financial development is represented by disaggregated and aggregated indicators. In this way, the effects of various financial indicators on income inequality are explained. Maki (2012) structural breaks co-integration test, and Stock and Watson (1993) dynamic ordinary least squares (DOLS) methods are followed for empirical analysis. Finally, the fully modified least squares (FM-OLS) regression analysis method developed by Philips and Hansen (1990) is used for robustness check. The estimation results of the linear relationship indicate that financial development is a mitigating effect on income inequality. These results support the inequality-narrowing hypothesis. The non-linear relationship results show that financial development first increases income inequality but after financial development reaches a certain level, this effect is reversed and financial development reduces income inequality. These results support the Greenwood-Jovanovic hypothesis. All the results strongly suggest that financial development is a mitigating or improving effect on income inequality over the long-run.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45946877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

Estimating Natural Rate of Interest and Equilibrium Exchange Rate: A Case of the Czech Republic 估算自然利率与均衡汇率:以捷克共和国为例

IF 0.7

Review of Economic Perspectives Pub Date : 2019-12-01 DOI: 10.2478/revecp-2019-0013

Zdeněk Pikhart, Pavla Froňková

引用次数: 0

Financialization and the Labor Share of Income 金融化与劳动收入份额

IF 0.7

Review of Economic Perspectives Pub Date : 2019-12-01 DOI: 10.2478/revecp-2019-0015

Onur Özdemir

引用次数: 6