Baltic Journal of Economics最新文献_第10页

Against the political expectations and theoretical models: how to implement austerity and not to lose political power 反对政治期望和理论模型:如何实施紧缩而不失去政治权力

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.991140

Viljar Veebel, Liina Kulu

{"title":"Against the political expectations and theoretical models: how to implement austerity and not to lose political power","authors":"Viljar Veebel, Liina Kulu","doi":"10.1080/1406099X.2014.991140","DOIUrl":"https://doi.org/10.1080/1406099X.2014.991140","url":null,"abstract":"During the global financial crisis in 2008–10 Estonia symbolized a pathway of fiscal consolidation and austerity. Moreover, despite opting for austerity and all the social and political consequences of achieving fiscal consolidation, the governing coalition in Estonia succeeded also in avoiding a negative political reaction from the voters and remained in power. The current article analyses the variables that made the austerity reforms in Estonia in 2008–11 electorally successful. The economic success of Estonia has otherwise been attributed to a combination of political, institutional, and economic factors: timing; a fiscal policy that was not pro-cyclical; the availability of reserves in Estonia; and the ownership structure of the banks. The present study asks more specifically about the variables that saw the economic success in the implementation of the austerity measures accompanied by a positive electoral outcome. As it will be argued, these factors include the communication strategy chosen intentionally or otherwise by the government, the design of the austerity measures, the peculiarity of the electoral cycle, lack of political alternatives, and the performance of neighbouring countries in implementing austerity measures.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"14 1","pages":"16 - 2"},"PeriodicalIF":1.1,"publicationDate":"2014-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2014.991140","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60297787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Financial distress and cycle-sensitive corporate investments 金融危机和周期敏感型企业投资

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.999481

Peeter Maripuu, Kadri Männasoo

引用次数: 16

Bidirectional linkage between inflation and inflation uncertainty – the case of Eastern European countries 通货膨胀与通货膨胀不确定性之间的双向联系——东欧国家的情况

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.993831

D. Živkov, Jovan Njegić, Marko Peċanac

{"title":"Bidirectional linkage between inflation and inflation uncertainty – the case of Eastern European countries","authors":"D. Živkov, Jovan Njegić, Marko Peċanac","doi":"10.1080/1406099X.2014.993831","DOIUrl":"https://doi.org/10.1080/1406099X.2014.993831","url":null,"abstract":"This paper explores bidirectional linkage between inflation and its uncertainty by observing monthly data of 11 Eastern European countries. The methodological approach comprises two steps. First, inflation uncertainty series have been created by choosing an optimal Generalized Autoregressive Conditional Heteroskedasticity- (GARCH) type model. Subsequently, inflation and inflation uncertainty have been observed together by two models examining whether Friedman's and Cukierman–Meltzer's hypotheses hold for selected Eastern Europe Countries (EEC). Due to the heterogeneous behaviour of some series of inflation and inflation uncertainty, the unconditional quantile regression estimation technique has been applied because of its robustness to the particular non-normal characteristics and outliers’ presence in the empirical data. According to the findings, both Friedman's and Cukierman–Meltzer's hypotheses have been confirmed primarily for the largest EEC with flexible exchange rate. In contrast, these theories are refuted in smaller, open economies with firm exchange rate regime.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"14 1","pages":"124 - 139"},"PeriodicalIF":1.1,"publicationDate":"2014-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2014.993831","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60298494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15

The application of Bayesian model averaging in assessing the impact of the regulatory framework on economic growth 贝叶斯平均模型在评估监管框架对经济增长影响中的应用

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.997093

M. Próchniak, B. Witkowski

引用次数: 6

The equilibrium real exchange rate: pros and cons of different approaches with application to Latvia 均衡实际汇率:适用于拉脱维亚的不同方法的利弊

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.993853

Viktors Ajevskis, Ramune Rimgailaite, Uldis Rutkaste, Oļegs Tkačevs

引用次数: 13

Measuring the competitiveness of Latvian companies 衡量拉脱维亚公司的竞争力

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-30 DOI: 10.1080/1406099X.2014.995421

A. Sauka

{"title":"Measuring the competitiveness of Latvian companies","authors":"A. Sauka","doi":"10.1080/1406099X.2014.995421","DOIUrl":"https://doi.org/10.1080/1406099X.2014.995421","url":null,"abstract":"This study makes an empirical contribution by exploring factors that contribute to the competitiveness of Latvian companies. The paper draws on a survey of owner-managers to determine the availability and use of resources and strategies found to be important drivers for firms’ competitiveness. Overall, we identify a number of firm-level factors, including involvement in risk-taking behaviour, more extensive use of networking channels, and efficient use of various business strategies as potential sources to increase the competitiveness of Latvian companies. Company owner-managers, however, tend to be more productive in using available human resources, and are satisfied with the availability of physical resources in addition to having a strong export orientation. The study also indicates various shortcomings in the external environment which, as perceived by respondents, are a burden for competitive entrepreneurship activities in the Latvian market. In this light, albeit of an exploratory nature, this study can be used as a source for evidence-based entrepreneurship policies in Latvia and other countries of Central and Eastern Europe.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"14 1","pages":"140 - 158"},"PeriodicalIF":1.1,"publicationDate":"2014-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2014.995421","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60298611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 18

Euro area monetary policy transmission in Estonia 欧元区货币政策在爱沙尼亚的传导

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-12-16 DOI: 10.1080/1406099X.2014.980113

Gertrud Errit, Lenno Uusküla

引用次数: 18

The contribution of R&D to production efficiency in OECD countries: econometric analysis of industry-level panel data 经合组织国家研发对生产效率的贡献:产业层面面板数据的计量分析

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-11-24 DOI: 10.1080/1406099X.2014.981105

Margo Liik, J. Masso, K. Ukrainski

{"title":"The contribution of R&D to production efficiency in OECD countries: econometric analysis of industry-level panel data","authors":"Margo Liik, J. Masso, K. Ukrainski","doi":"10.1080/1406099X.2014.981105","DOIUrl":"https://doi.org/10.1080/1406099X.2014.981105","url":null,"abstract":"While research and development expenditures are considered a key to productivity growth and development, the question remains whether their contribution could depend on the particular countries’ and industries’ actual development levels and positions in global value chains. In this paper we analyse the relative contribution of R&D to the efficiency (productivity) on the industry and sector level in OECD countries using industry-level panel data and the stochastic frontier production function approach. The results indicate that R&D capital productivity enhancing effect increases with the level of technology; physical capital shows the opposite effect. The distribution of efficiency across industries shows remarkably different variances, reflecting different degrees of competition and the structure of value chains. Among different external factors, the share of labour with tertiary education at the national level showed a strong positive correlation with efficiency, while for other external factors the effect varied across the industries. The findings imply that in the design of R&D policy measures the structure of the industries needs to be considered.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"14 1","pages":"100 - 78"},"PeriodicalIF":1.1,"publicationDate":"2014-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2014.981105","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60298121","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 22

Implications of the liquidity crisis in the Baltic-Nordic region 波罗的海-北欧地区流动性危机的影响

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-09-05 DOI: 10.1080/1406099X.2014.949603

Ivo Karilaid, Tõnn Talpsepp, Tarvo Vaarmets

引用次数: 3

Perils of excessive credit growth: evidence from 11 new EU member states 信贷过度增长的危险:来自11个欧盟新成员国的证据

IF 1.1 3区经济学

Baltic Journal of Economics Pub Date : 2014-08-20 DOI: 10.1080/1406099X.2014.942541

Laivi Laidroo, Kadri Männasoo

{"title":"Perils of excessive credit growth: evidence from 11 new EU member states","authors":"Laivi Laidroo, Kadri Männasoo","doi":"10.1080/1406099X.2014.942541","DOIUrl":"https://doi.org/10.1080/1406099X.2014.942541","url":null,"abstract":"We investigate the association between banks' credit expansion and loan loss reserves on a panel of banks from 11 new EU member countries from Central and Eastern Europe during 2004–2010. Unused committed credit lines capture the decline in banks' risk aversion being associated with a supply shift. As the existence of loan commitments may lead to overlending, we expect that banks with a higher share of unused committed credit lines are more prone to subsequent increase in loan loss reserves. The system and difference GMM estimations as well as pooled OLS and panel fixed effects estimations confirm that an excessive credit supply, reflected in overextension of committed credit lines, predicts increase in bank loan loss reserves two years ahead while controlling for bank asset returns, real growth in loan portfolio, country GDP, inflation and EBRD banking sector reform index. This stresses the importance of credit lines monitoring by regulatory and supervisory authorities for timely recognition of credit overextension episodes. The negative association between loan loss reserves and real GDP growth was affirmed.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"14 1","pages":"17 - 34"},"PeriodicalIF":1.1,"publicationDate":"2014-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2014.942541","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60297925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 17