Kiril Simeonovski, Filip Fidanoski, Mihail Petkovski, B. Sergi
{"title":"Debt-growth link after an economic crisis: The case of Central and Southeast Europe","authors":"Kiril Simeonovski, Filip Fidanoski, Mihail Petkovski, B. Sergi","doi":"10.1080/14631377.2021.2006492","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006492","url":null,"abstract":"ABSTRACT This paper examines government debt’s effect on economic growth on a sample of 16 countries from Central and Southeast Europe for the period 2009–2018 period. We develop a non-linear dynamic panel-regression model. The findings point out to concavity of the growth function with respect to government debt. The estimates from the baseline model determine the debt threshold at the level of 77.3% of GDP, while the debt threshold ranges from 69.4 to 74.1% of GDP when the primary and overall budget balances are included as covariates. The GMM estimates that we make to deal with potential endogeneity determine the debt threshold at the level of 78.9% of GDP when there are no covariates, while the debt threshold ranges from 75.8 to 80.7% of GDP when the gross fixed capital formation and employment are added as covariates.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2022-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49203090","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}
{"title":"Participation, transparency and trust in local governance in transitional countries: the case of Vietnam","authors":"Thi Bich Hanh Tran, H. A. La","doi":"10.1080/14631377.2021.2006493","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006493","url":null,"abstract":"ABSTRACT The cynicism about government has induced administration reforms in both developed and transitional countries. However, the reform outcomes are not similar across countries and depend on the administrative context. In this paper, we employ the cultural-based administration approach to investigate the role of trust in citizen participation and the linking between participation and transparency in Vietnam. Using aggregated data at the district level from the Public Administration Performance Index in Vietnam in 2018–19 and considering the two-way association issue, we find that transparency is not always indicative of participation and trust is shown to be an important determinant of public participation. Furthermore, in addition to normative factors such as education levels and the proportion of rural citizens, trust plays a significant role in explaining the inverse relationship between participation and transparency. Our results contribute one more empirical evidence to the scarce literature that embeds the administration culture analysing administrative reform outcomes in transitional countries.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41629383","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}
{"title":"Effects of public pensions on elderly poverty: insights from an ageing China","authors":"Meng Li, Li Zhang","doi":"10.1080/14631377.2021.2006496","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006496","url":null,"abstract":"ABSTRACT While the problem of elderly poverty in China has been addressed in many studies, few systematically examine the capacity of public pension benefits to reduce poverty. To fill the research gap, this paper aims to understand better the effect of China’s public pensions on poverty relief. The paper shows that, while the majority of Chinese people have been covered by public pensions, the pension that pertains to those outside the formal labour market does not effectively prevent substantial numbers of pensioners from poverty because of pension inadequacy. The phenomenon of pensioner poverty suggests that, to minimise poverty in old-age, as important as expanding pension coverage is guaranteeing pension adequacy, particularly for the informal workforce. China’s experience for tackling elderly poverty through public pensions may provide insights for other countries considering the expansion of pension coverage.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43426112","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}
{"title":"Financial constraints and firms’ innovation activities in post-communist economies","authors":"Ruohan Wu","doi":"10.1080/14631377.2021.2006497","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006497","url":null,"abstract":"ABSTRACT We acquired firm-level data from 27 post-communist economies in Eastern Europe and Central Asia during 2002–08, and we estimated financial constraints’ longitudinal impacts on firms’ innovating activities. Overall, we found financial constraints to significantly impede firms’ innovation input and output, as we had expected. Through further studies, we also found the impacts of financial constraints to be contingent on multiple factors, such as an overall economy’s development level and firms’ exporting statuses. After grouping firms based on their countries’ income levels, we found financial constraints to significantly reduce innovations in developing countries, but not in developed countries. Meanwhile, we found financial constraints to significantly impede innovations in non-exporting firms, but not in exporting firms. On an extended timeline, financial constraints still significantly affect firms’ long-term innovation outputs, but not inputs.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43303097","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}
{"title":"Examining the impact of government spending on the finance-growth nexus: evidence from post-communist economies","authors":"Hazwan Haini, Pang Wei Loon","doi":"10.1080/14631377.2021.2006491","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006491","url":null,"abstract":"ABSTRACT This study examines the impact of government spending on the finance-growth nexus in 27 post-communist economies from 1995 to 2017 using dynamic panel estimators. Many transitional economies have attempted to reduce the influence of government intervention during their early transitional period while reforming their respective financial sectors. The findings show that overall financial development is positive to growth, while government spending has a negative impact on growth. More importantly, the marginal effects of financial development are positive to growth at low levels of government spending. In contrast, at high levels of government spending, financial development has a negative relationship to growth. Focusing on different aspects of financial development, the findings show that financial access and efficiency are more effective at stimulating growth compared to financial depth. Post-communist economies should ensure that government spending should not crowd out the financial sector, and promote financial efficiency and accessibility.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45955263","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}
P. Ferreira, A. Dionísio, Dora Almeida, D. Quintino, Faheem Aslam
{"title":"A new vision about the influence of major stock markets in CEEC indices: a bidirectional dynamic analysis using transfer entropy","authors":"P. Ferreira, A. Dionísio, Dora Almeida, D. Quintino, Faheem Aslam","doi":"10.1080/14631377.2021.2006498","DOIUrl":"https://doi.org/10.1080/14631377.2021.2006498","url":null,"abstract":"ABSTRACT This research work aims to understand the dynamics of influence among CEEC stock market indices and between these and the US, German, UK and Chinese indices. Through a nonlinear approach, based on transfer entropy, we find strongly influential relationships between some CEEC indices and the influencing nature of the US index stands out. In addition to the complexity of causality relationships, which has a limited compatibility with purely linear analyses, we also perceive an intensification in the leadership of the big 4 from the first quarter of 2020, which suggests that the pandemic crisis may be a factor for the intensification of influence from Chinese and US indices.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46480622","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}
{"title":"Janos Kornai and his memorable work","authors":"G. Kolodko","doi":"10.1080/14631377.2021.2010177","DOIUrl":"https://doi.org/10.1080/14631377.2021.2010177","url":null,"abstract":"ABSTRACT Janos Kornai was the most outstanding economist from the socialist and post-socialist region in the last 50 years. He was a world-renowned scholar who left behind an immense legacy of works published in over 20 languages. His theory of systemic disequilibrium in a centrally planned economy, the concept of hard and soft budget constraints, and economic shortage were of revolutionary importance to the scientific interpretation of the processes of production, distribution and capital accumulation in state socialist economies. Also of note is the author’s work on political economy of socialism, which he taught at the Harvard University. When analysing the socialist system, Kornai essentially contented himself with a descriptive approach, whereas in works published after 1989 he focused his attention on normative economics, suggesting directions of structural reform, institution-building, and economic policy in post-socialist transition. Also of great importance is Kornai’s last book comparing the disequilibrium characterised by shortage in socialism with the disequilibrium typical of the surplus in capitalism. This article analyses the evolution of this outstanding economist’s theoretical thought and its impact on real economic processes.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47271931","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}
{"title":"Do social and environmental capabilities improve bank stability? Evidence from transition countries","authors":"K. Djalilov, C. Hartwell","doi":"10.1080/14631377.2021.1965359","DOIUrl":"https://doi.org/10.1080/14631377.2021.1965359","url":null,"abstract":"ABSTRACT Financial institutions have embraced the idea of corporate social responsibility (CSR) over the past decade, particularly in the banking sector, even as they have faced challenges in their core business model and an uncertain economic environment. Has the addition of CSR helped banks in their effort to become more stable via diversification, or has it squandered resources which could be utilised elsewhere? Using a sample of 319 commercial banks from 21 transition countries in Central and Eastern Europe and the former Soviet Union from 2002 to 2014, we find that there is a heterogeneous effect of CSR on bank stability, with total commitment to CSR contributing to the stability the most. Environmental capabilities, on the other hand, appear to influence stability only for those firms which are already the highest performing. We conjecture that, for financial sector firms in a transition environment, CSR is a further commitment for firms which have attained a certain level of stability but can be destabilising for weaker banks.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44598653","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}
{"title":"Nuclear supply chain and environmental justice struggles in Soviet and Post-Soviet countries","authors":"Ksenija Hanaček, J. Martínez-Alier","doi":"10.1080/14631377.2021.1943917","DOIUrl":"https://doi.org/10.1080/14631377.2021.1943917","url":null,"abstract":"ABSTRACT This article addresses and contributes to the discussion on nuclear supply chain socio-environmental conflicts in Soviet and post-Soviet contexts by bringing it together with nuclear peripheralization and environmental justice approaches. Descriptive statistics and qualitative coding were applied to 14 cases identified in the Global Atlas of Environmental Justice. Visible protests were first detected in 1976. The cases analysed comprise the whole nuclear supply chain; uranium mining bans, stopping nuclear reactors, and nuclear testing bans. Seven of the conflictive projects have been suspended by neighbours, citizens and communities, women, industrial workers, and Indigenous groups. However, nuclear projects remain of ongoing concern related to nuclear waste and potential nuclear accidents. Military violence intrinsic to nuclear power domination encounters anti-nuclear resistance in areas where nuclear socio-environmental legacies and current injustices are lived.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48775860","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}
{"title":"Post-Soviet states and CO2 emissions: the role of foreign direct investment","authors":"Raufhon Salahodjaev, A. Isaeva","doi":"10.1080/14631377.2021.1965360","DOIUrl":"https://doi.org/10.1080/14631377.2021.1965360","url":null,"abstract":"ABSTRACT Natural resource abundance, growth-oriented strategies and low environmental concern of post-Soviet states may exacerbate the consequences of climate change significantly. This study considers the relationship between CO2 emissions, economic development, foreign investment inflows, trade and energy use in 20 post-Soviet states between 1995 and 2017. A panel cointegration test reveals the long-term cointegrating relationship between the variables. Long-term elasticities are reported using Dynamic Ordinary Least Squares and Fully Modified Ordinary Least Squares regressions, which yield quite similar results: GDP per capita, foreign direct investment (FDI) inflows, trade and energy use positively related to CO2 emissions per capita in the long term. A panel causality test, however, identifies unidirectional causality running from CO2 emissions to energy use at p<0.01. In other words, greater economic activity in terms of foreign capital inflows, larger trade shares, extensive energy use and economic development, harm the environment through increasing CO2 emissions and strengthen the need for greater environmental and climate change concerns. The study aims to contribute to this Special Issue through accounting for the role of foreign direct investment and foreign trade in the sustainable development of post-Soviet states.","PeriodicalId":46517,"journal":{"name":"Post-Communist Economies","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41849580","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}