Eastern European Economics
Taylor & Francis
About: Eastern European Economics is an academic journal published by Taylor & Francis. The journal publishes majorly in the area(s): Eastern european & European union. It has an ISSN identifier of 0012-8775. Over the lifetime, 910 publications have been published receiving 8779 citations.
Papers published on a yearly basis
TL;DR: In this article, the authors make some remarks concerning the calculation of the gross domestic product (GDP) in the period being considered, before commenting on the data presented in Table 1.
Abstract: The process of transformation of the Polish economy [presented in the previous chapters] and the recession, which touched almost all areas of the economy, entailed altogether a significant decline in the value of the gross domestic product (GDP). The data on the dynamics of GDP, put together on the basis of information published by GUS [Central Statistical Office] for the period 1989-91 as well as on the basis of RECESS's [Research Centre for Economic and Statistical Studies] own estimates for 1992, are shown in Table 1. It seems necessary, before commenting on the data presented in Table 1, to make some remarks concerning the calculation of GDP in the period being considered. The process of the transformation of the economy requires the adaptation of the system of statistical information to the changes taking place. Small businesses, which are emerging in large numbers, are not included in routine statistical reporting; the sphere of unregistered economic activity is expanding; there are cracks in the system of customs and tax control-all these factors require the establishment of new methods and forms of organizing statistical research. This applies equally to the organs of state statistics (e.g., researching the economic activity of small businesses, the establishment and use of registers of economic agents) and other state agencies (e.g., the need for the creation of effectively functioning tax registers and social-insurance registers). The totality of factors connected with the imperfection of the present system of statistical information ultimately
TL;DR: In this paper, the authors propose an empirical assessment of the determinants of borrowing costs of new European Union member countries for the period 2001-8, and check the long-run determinants for two subgroups of countries based on their current account balances.
Abstract: For the period 2001-8, we propose an empirical assessment of the determinants of borrowing costs of new European Union member countries. The results of a dynamic panel error-correction model, accounting for both common long-run determinants and cross-country heterogeneities suggest that fundamentals still matter for market assessment of a country's creditworthiness. We check the long-run determinants for two subgroups of countries based on their current account balances. In the context of heightened risk aversion, one group of countries, characterized by low fiscal discipline, is more exposed to domestic sources of vulnerability as well as to swings in market perceptions of sovereign risk.
TL;DR: In this paper, a money-demand analysis in the new member states of the European Union is conducted using panel cointegration methods, and a well-behaved long-run money demand relation is identified only if the exchange rate is included as part of the opportunity cost.
Abstract: Within a wide range of other economic and financial indicators, money is highly relevant to the two-pillar monetary strategy of the European Central Bank for detecting risks to price stability over the medium term. Money demand models are a natural benchmark for assessing monetary developments. The existence of a well-specified and stable relation between money and prices can be perceived as a prerequisite for using monetary aggregates in the conduct of monetary policy, which is usually assessed within a money-demand framework. In this respect, the present analysis is important for the new member states of the European Union, as they are expected to join the euro area in future years. In this study, a money-demand analysis in the new member states is conducted using panel cointegration methods. A well-behaved long-run money demand relation can be identified only if the exchange rate is included as part of the opportunity cost. In the long-run cointegrating vector, income elasticity exceeds unity. Over the...
TL;DR: In this article, the authors attempted to estimate whether foreign direct investment in the Czech Republic, Hungary, and Poland crowds in or crowds out domestic investment, and found that for the time period 1990-2000 there was evidence of a crowding-out effect in Poland.
Abstract: In this article, we attempt to estimate whether foreign direct investment in the Czech Republic, Hungary, and Poland crowds in or crowds out domestic investment. We used a model of total investment that introduced, from the point of view of the recipient country, foreign direct investment as an exogenous variable. We found that for the time period 1990-2000 there was evidence of a crowding-out effect in Poland. For the time period 1990- 2000 in Hungary and for the time period 1993-2000 in the Czech Republic, we found a crowding-in effect.
TL;DR: In this article, the determinants of the efficiency and productivity of the banking systems of seven central and east European countries during a five-year period, from 2004 to 2008, were examined.
Abstract: In this paper we examine the determinants of the efficiency and productivity of the banking systems of seven central and east European countries during a five-year period, from 2004 to 2008. Two approaches are used to examine the efficiency of the banking industry in central and east European countries: stochastic frontier analysis and data envelopment analysis. The empirical results show that the average efficiency of banks in central and east European countries grew in the period analyzed. The improvement may be due to increased competition upon EU accession and the entry of foreign banks, as well as to extensive legislative changes that led banks to become more efficient. Based on the results, we see that the highest level of technical efficiency is recorded for the banking systems of Romania and the Czech Republic, and the lowest is recorded for Slovenia. Looking at the average efficiency scores for each country, we observe significant variation across the banking systems of the central and east Europ...