Eastern European Economics最新文献

{"title":"Market Efficiency During the COVID-19 Pandemic. Some Insights Using Non-Parametric Tests","authors":"Andreea Iordache","doi":"10.1080/00128775.2023.2281455","DOIUrl":"https://doi.org/10.1080/00128775.2023.2281455","url":null,"abstract":"This paper examines the weak form of the Efficient Market Hypothesis (EMH) across fourteen European Stock Markets from October 2018 to April 2021, a period divided into subsamples based on the outb...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"213 1 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138532454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Labor Market Outcomes of Unemployed Czech and Polish Workers: Catching-Up with Austria?","authors":"Vladislav Flek, Martin Hála, Martina Mysíková","doi":"10.1080/00128775.2023.2278808","DOIUrl":"https://doi.org/10.1080/00128775.2023.2278808","url":null,"abstract":"This paper examines the micro-determinants of unemployment durations and exits in Czechia, Poland and Austria. Our hazard estimates utilize EU-SILC data and identify national specificities in which...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"67 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138532444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Twenty-Five Years of Polish Equity Market Performance: The Questionable Force Shaping Economic Property Rights Institutions","authors":"Anna P. Malinowska","doi":"10.1080/00128775.2023.2281456","DOIUrl":"https://doi.org/10.1080/00128775.2023.2281456","url":null,"abstract":"This papere explores and quantifies the evolution of equity market performance and economic property rights dynamics in a reinstated market economy in Poland in the years 1995 to 2021. Using dynami...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"67 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138532533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Subsidies and Employment: Exploring the Experience of Corporate and Family Farms in Russia","authors":"Philip Kostov, Sophia Davidova, Yulia Nikulina, Valeria Arefieva","doi":"10.1080/00128775.2023.2278810","DOIUrl":"https://doi.org/10.1080/00128775.2023.2278810","url":null,"abstract":"The paper investigates whether agricultural enterprises and the family farm sector in Russia respond differently to agricultural subsidies with respect to agricultural employment. Results show that...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"58 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138532445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Happens to Listed Firms When Their Managers or Board Members Join Politics?","authors":"Krzysztof Jackowicz, Łukasz Kozłowski","doi":"10.1080/00128775.2023.2279211","DOIUrl":"https://doi.org/10.1080/00128775.2023.2279211","url":null,"abstract":"We examine the consequences of a firm’s manager or board members transferring to politics. If social ties with ex-employers can withstand the test of time, the new political powers of former manage...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"280 2","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507718","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of the Pandemic and the War in Ukraine on the Riskiness of Financial Investments in Three Central European Countries","authors":"Quang Van Tran, Jiri Malek","doi":"10.1080/00128775.2023.2278809","DOIUrl":"https://doi.org/10.1080/00128775.2023.2278809","url":null,"abstract":"The COVID pandemic and the war in Ukraine are extraordinary events causing excessive turbulence in financial markets. Considering the leptokurtic and heteroscedastic properties of returns on financ...","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"99 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138543724","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Did World War II Deaths Help Prevent Deaths from COVID-19?","authors":"Michael Lokshin, Martin Ravallion, Vladimir Kolchin","doi":"10.1080/00128775.2023.2278806","DOIUrl":"https://doi.org/10.1080/00128775.2023.2278806","url":null,"abstract":"ABSTRACTThe paper documents and tries to explain a striking negative correlation between COVID-19 mortality across countries and deaths during World War II. The correlation persists with various controls for observables and allowing for latent omitted variables, using the pre-war distribution of the Jewish population for identification. The correlation also survives influence and falsification tests, measurement-error adjustments, and tests for spatial autocorrelation, which can generate spurious historical dependence. We suggest a theoretical explanation whereby large shocks promote institutions and cooperative behavioral norms – interpretable as civic capital – that initially help attenuate losses from future large shocks, though with fading impact over time.KEYWORDS: COVID-19Europerare eventsshocksWorld War IIJEL CLASSIFICATION: D74I12N10 Disclosure StatementNo potential conflict of interest was reported by the author(s).FindingThis paper’s findings, interpretations, and conclusions are entirely those of the authors and do not necessarily represent the views of their employers including the World Bank, its Executive Directors, or the countries they represent. The authors thank Branko Milanovic for discussions, Toan Do, Ivan Torre and Dominique van de Walle for their comments, and two anonymous referees for their constructive comments and suggestions.Notes1. For a recent survey see Cioni et al. (Citation2021) and Dupraz and Ferrara (Citation2023).2. All but the last is reasonably well known; on the last see Kelly (Citation2020). The historical literature on the development of social policies points to a degree of spatial correlation (Ferrera Citation2005).3. See, for example, the discussion in Arthi and Parman (Citation2021), with reference to the 2020/21 pandemic and its potential future impacts.4. The literature on social capital and health has pointed to such a distinction between “cognitive” and “structural” social capital (Murayama, Yoshinori, and Kawachi Citation2012).5. The index appears to rank countries differently from rankings based on similar perception-based measures (i.e., WGI). For example, El Salvador has Civil Capital index of 0.08 while that index for France is −0.59 and 0.00 for Finland. Such differences might arise from differences in country/culture-specific subjective scales respondent use when answering these questions (Ravallion and Lokshin Citation2001)6. Also see Egorov (Citation2020) on Russia’s success in rapidly containing a smallpox outbreak around 1960. The success would not have been possible without widespread public acceptance.7. Surveys data for the U.S. indicate a strong association between the acceptance of social norms for cooperative health behaviors and actual personal preventative actions during the pandemic (Goldberg et al. Citation2020). Also, for the U.S., Barrios et al. (Citation2021) find greater use of face masks in counties with higher measures of civic capital.8. WWII is often mentioned as a turn","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"43 39","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134953611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding Financial Inclusion of Individuals Engaged in Agriculture: Evidence from Upper-Middle-Income Balkan Economies","authors":"Isidora Ljumovic, Vlado Kovacevic, Irena Jankovic","doi":"10.1080/00128775.2023.2279228","DOIUrl":"https://doi.org/10.1080/00128775.2023.2279228","url":null,"abstract":"ABSTRACTEmphasizing upper-middle-income Balkan Economies, this study focuses on the determinants of financial inclusion on a sample of individuals engaged in agriculture. Using logit estimations, we investigate socio-economic characteristics influencing financial inclusion, including owning a bank account and holding savings. Results reveal that individual characteristics, such as education, income, gender, and online payment usage are influential drivers. Financial inclusion is also impacted by economy-level variables including the share of agriculture in GDP and financial infrastructure density. The study underscores the importance of tailored policies to promote financial inclusion, particularly for vulnerable groups in agriculture-dependent economies.KEYWORDS: Financial inclusionformal accountincome inequalitysaving accountJEL CLASSIFICATION: C21G21E21O12O16 AcknowledgmentsThis paper results from the research financed by the Ministry of Education, Science, and Technological Development of the Republic of Serbia.Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationNotes on contributorsIsidora LjumovicIsidora Ljumović is a principal research fellow at the Institute of Economic Sciences from Belgrade. She holds a PhD in Economics and a bachelor’s degree in Organizational Sciences. Dr. Ljumović has been involved in several domestic and international projects and initiatives, including those funded by the national ministries, the World Bank, and the European Union. She has contributed to many scientific conferences in Serbia and abroad, having published four monographs and more than fifty scientific papers in domestic and international scientific journals and thematic collections. Dr. Ljumović is a member of the Committee for Economic Sciences at Serbian Academy of Science and Arts, the Scientific Society of Economists of Serbia, and the International Association of Engineers. She is fluent in English and speaks German.Vlado KovacevicVlado I. Kovačević holds a bachelor and PhD from the Faculty of Agriculture, University of Belgrade. He worked within the Ministry of Agriculture, Forestry and Water Management as an Advisor in the Sector for International Cooperation. In TD Waterhouse Edmonton, Canada he worked as Financial Market Analyst. He was appointed Advisor to the Minister in the Ministry of Agriculture, Trade, Forestry and Water Management. Since 2016 he has been working as a Senior Research Associate at the Institute of Agricultural Economics in Belgrade. He is a member of the Steering Committee of the Institute of Agricultural Economics, member of the Supervisor Committee of the Agrocluster Serbia and Innovation Centre of Zlatibor. He is a member of the Scientific Society of Economists of Belgrade.Irena JankovicIrena Janković is an associate professor of Finance at the University of Belgrade, Faculty of Economics. She graduated and obtained her master and PhD from the University of Belgra","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":" 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135242081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Export Diversification: The Case of Russian Regions","authors":"Rogneda Vasilyeva, Alina Urazbaeva, Valentin Voytenkov","doi":"10.1080/00128775.2023.2265919","DOIUrl":"https://doi.org/10.1080/00128775.2023.2265919","url":null,"abstract":"ABSTRACTThe hydrocarbon sector accounts for 50% of Russian exports, leading to high commodity price volatility risks for the economy. Prior literature emphasizes the role of export diversification in development and in hedging external shocks. We investigate factors affecting regional export diversification, applying method of moments quantile regression. We devise two export diversification measures, using Theil and Herfindahl indices. Our empirical findings demonstrate that innovations spur export diversification in industrial regions, while small and medium enterprises diversify exports in industrial and non-resource regions. Natural resource extraction enforces regional exports concentration. We develop policy implications for Russian regional policymakers considering the specialization of regional economies.KEYWORDS: Export diversificationnatural resourcesRussian regionssmall and medium enterprisesTheil indexJEL Classification: F14R11 AcknowledgmentsThis study was supported by the grant of the Russian Science Foundation No: 19-18-00262 ‘Empirical modelling of balanced technological and socioeconomic development in the Russian regions’Disclosure statementNo potential conflict of interest was reported by the authors.Supplementary materialSupplemental data for this article can be accessed online at https://doi.org/10.1080/00128775.2023.2265919Notes1. According to the law “On the development of small and medium-sized enterprises in the Russian Federation,” the following requirements apply to obtain the status of a small or medium-sized enterprise. An average number of employees per year: 16 to 100 employees for small enterprises and 101 to 250 employees for medium-sized enterprises. A limit applies to annual revenues: 800 million rubles for small enterprises and 2 billion rubles for medium-sized enterprises (OECD iLibrary Citation2020).2. The Commodity Nomenclature of Foreign Economic Activity (rus. TN VED) classification is based on 4-digit commodity items, identical to similar items of the international Harmonized Commodity Description and Coding System.3. Based on data availability.Additional informationFundingThis work was supported by the Russian Science Foundation [19-18-00262].Notes on contributorsRogneda VasilyevaRogneda Vasilyeva, Senior Lecturer, Department of Economics; Junior Researcher, Laboratory of Regional and International Economics, Ural Federal University, Ekaterinburg, Russia.Alina UrazbaevaAlina Urazbaeva, Kedge Business School, Marseille, France; Faculty of Economic Sciences, National Research University Higher School of Economics, Moscow, Russia.Valentin VoytenkovValentin Voytenkov, Faculty of Economic Sciences, National Research University Higher School of Economics, Moscow, Russia.","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135198101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An Investigation of Income and Wage Inequality in Turkey Using Burgernomics","authors":"Mahmut Zeki Akarsu, Orkideh Gharehgozli, Vidya Atal","doi":"10.1080/00128775.2023.2253216","DOIUrl":"https://doi.org/10.1080/00128775.2023.2253216","url":null,"abstract":"ABSTRACTThis study delves into the multifaceted issue of inequality in Turkey, analyzing overall and regional disparities as well as wage and gender inequalities in the labor market. Through the lens of the Big Mac Index, we investigate purchasing power and discover a decrease in regional inequality between 2002 and 2020. However, our research findings indicate a widening income gap between capital owners or the working rich and workers, particularly evident after 2015. Moreover, the wage gap between male and female white-collar workers has widened since the 2018 currency crisis, while the gap between male and female blue-collar workers has shown improvement.KEYWORDS: Big Mac IndexBurgernomicsInequalityTurkeyJEL CLASSIFICATION: D31J71 Disclosure statementNo potential conflict of interest was reported by the authors.Notes1. Organisation for Economic Co-operation and Development.2. https://www.economist.com/big-mac-index3. As of 2021, Turkey has 81 cities. Each city has its own capital and its own governors, who are appointed by the elected government. Cities in Turkey are established by the central government through legislation, which involves conducting research, consulting with local officials, and submitting a proposal to parliament for approval, after which a governor is appointed to oversee administration and services.4. https://data.tuik.gov.tr/Bulten/Index?p=Gelir-ve-Yasam-Kosullari-Arastirmasi-2021–455815. https://data.tuik.gov.tr/Bulten/Index?p=Income-and-Living-Conditions-Survey-2020–37404&dil=26. Akarsu (Citation2022) modified the Gini index, we have used that version of the Gini index.7. In this study, every figure is our own plot and calculation except for Figure A1 in the Appendix.8. Due to data limitations, we cannot gauge inequality within Turkish cities.9. We use the terms “capitalists” and “the working rich,” introduced in Piketty’s (Citation2015) book, which analyzes income inequality and wealth distribution. Marx (Citation1875) had previously used the term “capitalist” to describe the owners of capital and means of production. In addition, the term “the working rich” has been employed by various scholars, including Piketty (Citation2015) and Godechot (Citation2016), to refer to individuals who have high incomes from work rather than investment or inheritance. These terms have become part of the discourse on income inequality and are now widely used in academic research and public discussions on the subject.Additional informationNotes on contributorsMahmut Zeki AkarsuMahmut Zeki Akarsu is a Ph.D. candidate in economics at the University of Warsaw. His research interests encompass macroeconomics and development economics. His current focus is on wage and income inequality, both in the United States and in middle-income countries, as well as on issues such as historical inequality, gender inequality, the Big Mac Affordability Index, the political economy, and the Turkish economy.Orkideh GharehgozliOrkideh Gharehgozli is an assist","PeriodicalId":45883,"journal":{"name":"Eastern European Economics","volume":"305 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134943647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}