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On a Production Function of European Countries: An Empirical Study

Economics’, 107. Mincer, J. (1974), Schooling, Experience and Earning, ‘NBER’, 1-4. O´Brien, R. M. (2007), A Caution Regarding Rules of Thumb for Variance Inflation Factors. ‘Quality and Quantity’, 41(5). Room, M. (2001), Potential Output Estimates for Central and East European Countries Using Production Function Method, ‘Working papers of Eesti Pank’, 2. Solow, R. M. (1957), Technical Change and the Aggregate Production Function, ‘Review of Economics and Statistics’, 39. WorldBank. (2016

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Determinants of Shadow Economy in Eastern European Countries

Developments? Journal of Self-Governance & Management Economics, 3 (4), 7-29. Schneider, F., 2016. Estimating the Size of the Shadow Economies of Highly developed Countries: Selected New Results. CESifo DICE Report, 4/2016 (december), 44-53. https://goo.gl/UymHkq . Schneider, F., 2017. Implausible Large Differences of the Size of the Underground Economies in Highly Developed European Countries? A Comparison of Different Estimation Methods. CESifo Working Papers, 6522 (june). https://goo.gl/7hiWq3 . Schneider, F., and Beuhn, A., 2012. Shadow Economies

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Impact of ICTs on Innovation Activities: Indication for selected European countries

–711. http://dx.doi.org/10.1016/S2212-5671(15)00409-8 34. Pejić Bach, M. (2014). Exploring information and communications technology adoption in enterprises and its impact on innovation performance of European countries. Ekonomický časopis , 62 (4), 335–362. 35. Pena Seixas, S. I. F. B., Bostock, J., & Eleftheriou, M. (2012). Promoting sustainable aquaculture. Management of Environmental Quality: An International Journal, 23 (4), 434–450. http://dx.doi.org/10.1108/14777831211232245 36. Poon, S. (2008). Future of small business E-Commerce. In A. Becker

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The Challenges of Competitiveness in Southeast European Countries

The Challenges of Competitiveness in Southeast European Countries

The article examines the problem of competitiveness in Southeast European countries, with a special emphasis on the position of these countries in World Economic Forum rankings of competitiveness, as well on their potential membership in the European Union. The article determines the most problematic factors for doing business in the region. These factors represent the most important determinants of business sector competitiveness and have implications on national competitiveness. A TOWS matrix was created and established the common characteristics (strengths, weaknesses, opportunities and threats) of the countries in the region. The matrix was also used to suggest strategies for increasing competitiveness. A maxi-maxi strategy ("expansionary strategy") was suggested because it represents the best way to utilise the countries' strengths and opportunities. Cross-section analysis established that increasing gross enrolment ratio in tertiary education and direct foreign investments have the most the positive impacts on GCI scores.

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Can biotechnology contribute to the development of research and innovation smart specialization strategy (RIS3) in Central and East European countries? Reminiscences from the European Workshop

Introduction A European Workshop on “Smart Specializations Strategy in the Field of Biotechnologies in Europe: A Challenge for Central and East European Countries (CEE)” was organized from September 4 th to September 6 th 2017 in Bratislava (Slovak Republic) by Faculty of Natural Sciences of University of SS. Cyril and Methodius in Trnava in cooperation with Slovak Academy of Sciences and International Centre for Applied Research and Sustainable Technology, Bratislava with the funding and expertise support of the Joint Research Centre of European Commission

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Analysis of Cultural Resources of Southeast European Countries as a Factor of Tourism Competitiveness

Abstract

The former role of tourism in terms of provision of accommodation and food has become outdated. Tourist offer increasingly includes additional activities, such as visits to various tangible and intangible cultural sites, and events that tourists perceive visually. In the contemporary tourism trends, cultural resources of Southeast European countries have become an important factor that maintains the competitiveness under conditions of the growing competition on a world scale. Cultural resources directly affect tourism, but there is also an inverse relationship reflected in the impact of tourism on cultural resources that are becoming an important factor for the choice of tourist destinations. The subject of this paper is to review the contribution of cultural resources to the development of tourist destinations with the help of the analysis of elements of Travel and Tourism Competitiveness Index - TTCI.

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Financialization and Income Inequality in Selected European Countries, 2004–2013

Abstract

The article examines the impact of financialization on income inequality between 2004 and 2013, through a panel analysis of seven European countries. Moreover, it attempts to examine differences in the perception of the phenomenon between the selected European countries belonging to the G-7 and countries from Central and Eastern Europe. The results demonstrate the existence of individual effects, which means that the level of inequality under examination is influenced predominantly by country-specific factors. The most significant correlation is noticeable between the level of unemployment and the degree of income inequality. An increase in unemployment is accompanied by a rise in the disproportions in the level of income that individual citizens have at their disposal whereas a decrease in the unemployment level contributes to an improvement of the GINI coefficient. Simultaneously, the results confirm the existence of significant correlations between the level of the GINI coefficient and such financialization indicators as the share of employment in finance in total employment and the contribution of the financial sector to total value added creation. The most prominent dependency was discovered when a constructed synthetic indicator was adopted as an indicator of financialization. At the same time, analysis of the synthetic country financialization indicator points to a conclusion that the level of financialization is higher in European countries belonging to the G-7 (especially Great Britain) than in countries from Central and Eastern Europe.

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Is there a housing wealth effect in European countries?

Abstract

In this study, a housing wealth effect on personal consumption is assumed and tested on 16 selected European countries using an estimator developed for dynamic heterogeneous panel data analysis. Empirical estimates have shown that there is a long-run and a short-run housing wealth effect in analysed countries. The elasticity of real private consumption to changes in real disposable income has shown to be positive and statistically significant as well as the elasticity of consumption to changes in real housing wealth. Therefore, the research hypothesis of this paper of a statistically significant and positive long-term relationship between housing wealth and private consumption in the analysed countries was confirmed.

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The Intervening Role of Competitiveness on the Relationship Between Sustainability and Tourism Performance: A Research on European Countries

Abstract

Being green and being an economically successful and competitive destination has been the core topic in the sustainable development literature in recent years. The link between sustainability and competitiveness in the market is fairly important to study in the tourism industry in order to support and encourage decision makers and stakeholders in their decisions. In this sense, this study has two aims. First aim is to cluster European countries based on their sustainability scores reported in World Economic Forum’s Global Competitiveness Index. Second aim is to reveal the intervening role of competitiveness on the relationship between sustainability and tourism performance for European countries. We employed a K-means cluster analysis and several multiple regression analyses. Analyses results revealed three clusters for European countries. Another finding postulated that competitiveness of these countries have been influenced by their level of sustainability. Our final finding posits that tourism performance of these countries in terms of tourist arrivals and tourism receipts has been found to be impacted by the level of tourism competitiveness.

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An Analysis of the Determinants of Systemic Banking Crises in Southeast European Countries

Abstract

The purpose of this paper is to determine potential indicators of systemic banking crises in five Southeast European countries. Although signal horizon in the literature usually implies a period of 12 months before and 12 months after a crisis outbreak, models in this paper imply a 24-month pre-crisis period. Probability of a banking crisis occurrence is calculated using logit regression. Results have shown that banking system indicators have higher impact on probability of systemic banking crisis occurrence compared to macroeconomic indicators, and that the banking systems of these countries are significantly exposed to global trends.

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