Real and Financial Sector Studies in Central and Eastern Europe: A Review
Journal Title: Finance a uver - Year 2016, Vol 66, Issue 1
Abstract
This survey focuses broadly on real and financial sector studies in former transition economies of Central and Eastern Europe. The survey shows that in the real sector there has been considerable trade and global integration in the post-transition period. Moreover, there is no uniform evidence regarding convergence or divergence from the surveyed empirical studies regarding business cycles in Central and Eastern Europe. Financial sector studies show that foreign bank ownership is associated with higher banking efficiency than in the case of domestic bank ownership and significant return and volatility transmission also from core European financial markets. However, the recent global financial crisis significantly affected these patterns. Finally, central bank communication seems to have significant wealth effects in financial markets and tends to reduce financial market uncertainty.
Authors and Affiliations
Nuket Kirci Cevik, Sel Dibooglu, Ali M. Kutan
Keywords
Related Articles
- EP ID EP297573
- DOI -
- Views 169
- Downloads 0
Improving Bankruptcy Prediction in Micro-Entities by Using Nonlinear Effects and Non-Financial Variables
The use of non-parametric methodologies, the introduction of non-financial variables, and the development of models geared towards the homogeneous characteristics of corporate sub-populations have recently experienced a...
Income, Schooling and Housing Wealth during Economic Reforms
We analyze the household income and housing endowment during the economic reforms in Slovakia. We compare households that entered the labor market before and after the economic reforms in 1990. On the one hand, the retur...
The Value Added Tax Incidence – the Case of the Book Market in CEE Countries
Conducting effective economic policy requires understanding of how taxes are shifted. The value added tax rates on books in the Czech Republic, Hungary, Poland and Slovakia in 2003 – 2012 differed much and changed severa...
Forecasting Exchange Rate Volatility: The Case of the Czech Republic, Hungary and Poland
We study various models for forecasting one-day forward volatility of the exchange rates of the Czech koruna, Hungarian forint and Polish zloty against the euro. We used high-frequency data to calculate realized volatili...
Effects of Macroprudential Policy on Systemic Risk and Bank Risk Taking
Using an international sample of 95 banks from 21 European and North American countries spanning from 2008 to 2014, this paper assesses the effectiveness of a large set of general and housing macro-prudential policies in...