scholarly journals Volatility and Correlations for Stock Markets in the Emerging Economies of Central and Eastern Europe: Implications for European Investors

2010 ◽  
Author(s):  
David E. Allen ◽  
Robert J. Powell ◽  
Anna Golab
Keyword(s):  
Eastern Europe ◽  
Emerging Economies ◽  
Stock Markets ◽  
Central And Eastern Europe

scholarly journals Comparison Of Patterns Of Convergence Among “Emerging Markets” Of Central Europe, Eastern Europe And Central Asia

2015 ◽  
Vol 18 (1) ◽  
pp. 5-23 ◽  
Author(s):  
Joanna Poznańska ◽  
Kazimierz Poznański
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Emerging Markets ◽  
Eastern Europe ◽  
Emerging Economies ◽  
Central And Eastern Europe ◽  
The Other ◽  
Catching Up ◽  
Advanced Economies ◽  
Growth Indicators

Based on analysis of economic growth indicators for 1989-2014, this article distinguishes the “emerging markets” of Central and Eastern Europe (with Russia included), from the other economies that fall in the broad ‘emerging markets’ category. Following the post–1989 reforms, the countries of the region share many of the same typical institutional features as other “emerging economies”, but not necessarily the associated economic outcomes. What characterizes “emerging economies” is that they grow fast enough to systematically close the distance dividing them from the advanced economies, creating convergence. Departing from this pattern, Central and Eastern Europe (and Russia) have so far fallen short in terms of the growth rates, and the region as a whole has not made much progress in catching up. By more than doubling its national product Poland is the only notable exception in the region, although Slovenia may fit in the same category. At the other extreme, some of the economies actually lost two decades in terms of reducing the gaps, and some even fell further behind (e.g., Serbia, Ukraine). These findings have potentially serious implications for economic theory in general and for the presumption that globalization processes act as a unifying developmental force.

scholarly journals The formation of boards of directors as a contingent response to environmental uncertainty – Evidence from emerging economies

2008 ◽  
Vol 4 (3) ◽  
pp. 23-33
Author(s):  
John Rice ◽  
Nigel Martin
Keyword(s):  
Soviet Union ◽  
Eastern Europe ◽  
Emerging Economies ◽  
Former Soviet Union ◽  
Boards Of Directors ◽  
Central And Eastern Europe ◽  
Strong Support ◽  
Environmental Uncertainty ◽  
Partial Support ◽  
Contingent Response

This paper provides some strong support for existing literature in an under-researched context (the emerging economies of the former Soviet Union and Central and Eastern Europe). We develop and apply a model linking Board formation and environmental uncertainty, finding some partial support for our anticipated relationships in the area of Board establishment and perceived financial sector uncertainly, although no support for our anticipated relationship between governmental sector uncertainty and Board formation. research is supportive of the broad assertion that strategy in emerging economies is different and a ‘one size fits all’ (generally American) approach to the questions we ask regarding strategy in emerging regions will rarely provide accurate insights for management academics and practitioners with an interest in understanding and improving management decisions in the context of emerging economies.

Has European monetary union influenced the European Union bank lending flows to the EU countries from Central and Eastern Europe?

2019 ◽  
Vol 11 (2) ◽  
pp. 263-282 ◽  
Author(s):  
Donny Tang
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Gravity Model ◽  
Stock Markets ◽  
Central And Eastern Europe ◽  
Bank Lending ◽  
The European Union ◽  
Content Type ◽  
Eu Countries ◽  
The Eu

Purpose The purpose of this study is to modify the gravity model to identify the main determinants of the European Union (EU) bank lending to the Central and Eastern Europe (CEE) countries during 1994-2012. Design/methodology/approach This study uses both two-stage least squares and dynamic generalized method of moments to estimate the modified gravity model. Findings This study finds that the CEE countries with more developed stock markets have received the higher EU bank lending inflows. The EU banks have greater access to additional financing in the stock markets. Second, the higher stock market difference between the CEE and EU countries has boosted the EU bank lending. Compared to the developed EU stock markets, the less developed CEE stock markets have become more favorable to the EU banks seeking to earn higher profits. Research limitations/implications The CEE countries can further boost the EU bank lending inflows through deepening capital liberalization. They should facilitate easy foreign bank entry by reducing excessive bank legislations and regulations. Moreover, they can promote the EU bank lending through substantial EU bank integration. This can accelerate the major bank reform which would facilitate better bank supervision and regulations. Originality/value Most previous studies have primarily used the macroeconomic and institutional factors to explain the EU bank lending. In contrast, this study explores the growing importance of the CEE financial development and bilateral trade in explaining the EU bank lending.

Episodic dependencies in Central and Eastern Europe stock markets

2008 ◽  
Vol 15 (14) ◽  
pp. 1123-1126 ◽  
Author(s):  
Alexandru Todea ◽  
Adrian Zoicas-Ienciu
Keyword(s):  
Eastern Europe ◽  
Stock Markets ◽  
Central And Eastern Europe

scholarly journals An Empirical Analysis Of Stock Returns And Volatility: The Case Of Stock Markets From Central And Eastern Europe

2015 ◽  
Vol 9 (1) ◽  
pp. 7-15 ◽  
Author(s):  
Jasmina Okičić
Keyword(s):  
Eastern Europe ◽  
Stock Returns ◽  
Stock Markets ◽  
Central And Eastern Europe ◽  
Transitional Economies ◽  
Financial Decisions ◽  
Conditional Mean ◽  
Overwhelming Evidence ◽  
Garch Processes ◽  
The Relationship

Abstract The main goal of this paper is to investigate the behaviour of stock returns in the case of stock markets from Central and Eastern Europe (CEE), focusing on the relationship between returns and conditional volatility. Since there is relatively little empirical research on the volatility of stock returns in underdeveloped stock markets, with even fewer studies on markets in the transitional economies of the CEE region, this paper is designed to shed some light on the econometric modelling of the conditional mean and volatility of stock returns from this region. The results presented in this paper provide confirmatory evidence that ARIMA and GARCH processes provide parsimonious approximations of mean and volatility dynamics in the case of the selected stock markets. There is overwhelming evidence corroborating the existence of a leverage effect, meaning that negative shocks increase volatility more than positive shocks do. Since financial decisions are generally based upon the trade-off between risk and return, the results presented in this paper will provide valuable information in decision making for those who are planning to invest in stock markets from the CEE region.

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