Bank Privatisation in Central and Eastern Europe Through the View of the Western European Stock Markets

2003 ◽  
Author(s):  
Plamen Georgiev Patev ◽  
Katerina Lyroudi ◽  
Nigokhos Krikorov Kanaryan
Keyword(s):  
Eastern Europe ◽  
Stock Markets ◽  
Central And Eastern Europe ◽  
Bank Privatisation ◽  
Western European ◽  
European Stock Markets

scholarly journals The comparative empirical analysis of the social protection system in selected Central and Eastern European countries: Emerging models of capitalism

2020 ◽  
Vol 56 (2) ◽  
pp. 159-175
Author(s):  
Piotr Maszczyk
Keyword(s):  
Eastern Europe ◽  
Path Dependence ◽  
Central And Eastern Europe ◽  
Social Protection ◽  
European Countries ◽  
Protection System ◽  
Eastern European ◽  
The Social ◽  
Western European ◽  
Institutional Architecture

AbstractThis article analyzes the institutional architecture and the level of similarity between the social protection system in 11 new EU member states from Central and Eastern Europe and chosen Western European countries, representing four different models of capitalism identified by Amable. In the selected institutional area, a comparative analysis was performed, and based on it, similarity hexagons were created. They serve the purpose of comparing Central and Eastern European (CEE) countries with Western European countries of reference. The dynamic approach adopted in this study—two different time periods were compared—allows an analysis of path dependence and the evolution of institutional architecture over time. The analysis indicates that in 2014, in the area of social protection, almost all CEE countries, apart from Latvia and Romania, were most comparable to the Continental model of capitalism represented by Germany. Nevertheless, the variety of results for the individual variables (especially input and output variables) and substantial changes between 2005 and 2014 also show that the model of capitalism prevailing in Central and Eastern Europe in the area of the social protection system is evolving constantly at a very fast pace and thus currently may be called a hybrid or even patchwork capitalism.

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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