Case Of Transition Economy Research Articles

Socioeconomic and Environmental Determinants of Health Outcomes: The Case of Transition Economies

This study examines the effects of economic and socio-demographic factors on the health status of men and women separately. The annual data of 16 selected transition countries for the period 2000-2016 were used. Life expectancy at birth was used as an indicator of health status in the study. Economic and environmental variables such as GDP per capita, health expenditures, unemployment, carbon emissions, access to safe water, and urbanization are considered as factors affecting life expectancy at birth. In the study, the Autoregressive Distributed Lags (ARDL) model was used. The findings show that the effects of socioeconomic and environmental factors on life expectancy differ according to men and women. It has been found that above-mentioned factors are more effective on life expectancy of men than women in selected transition economies. Therefore, it can be recommended to prioritize economic and environmental targets in improving the health outcomes of countries.

Inclusive Institutions – a Precondition of Sustainable Development. A Comparative Analysis Between Romania and Poland

When trying to identify the sources of growth and sustainable development, institutions and their effectiveness are among the most important and powerful instrument required to explain the economic dynamics of countries all over the world. More precisely, those rules, formal or informal, political or economic, that foster the participation of the majority of people in activities able to ensure the allocation of resources to their most productive destinations are the ones that promote long-term prosperity. Their significance is becoming even more important when the particular case of transition economies is addressed. Consequently, the aim of this paper is to demonstrate that inclusive institutions (political and economic ones) are a prerequisite for the long-run development, mainly for emerging economies. Using an unique dataset of indicators that highlight the quality of economic and political institutions we have employed a VEC Model, variance decomposition and Granger causality analysis for Romania and Poland, in order to emphasize that, from a comparative perspective, each transition path towards the market economy has designed different rules of the game determining, thus, dissimilar development profiles.
 Keywords: Sustainable development, Transition economies, Institutions, Institutional performance

A Review Study of Antecedents of Electronic Word-of-Mouth: The Case of Transition Economy – Uzbekistan

Antecedents of electronic word-of-mouth (eWOM) in social media have not been analyzed in the case of transition economies. The Commonwealth of independent states (CIS) is an interesting case, where countries lived with the ideology of communism for a long time and now they need to adapt to a new set of rules. First of all, the current study analyzes the cultural aspects of Uzbekistan to understand them in the perspective of Hofstede’s classification. Secondly, it reviews previous literature and finds what kind of effects tie strength, homophily, interpersonal influence, trust, self-presentation, and self-disclosure can have on engagement in eWOM in individualistic and collectivistic communities. Finally, it suggests why future research involving the CIS sample is important.

Energy consumption and economic growth: The case of transition economies

ABSTRACTThis study investigates the causality relationship between energy consumption and economic growth in 17 transition countries, which are Albania, Armenia, Belarus, Bulgaria, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyz Republic, Latvia, Moldova, Poland, Romania, Russian Federation, Slovenia, Ukraine, and Georgia. Empirical findings indicate that there is unidirectional causality from economic growth to energy consumption in the long run. The results support for conservation hypothesis suggests that energy conservation policies have no effect on economic growth. They can simultaneously achieve policy goals concerning growth and energy.

Why Greater Cash Holdings and Short-Term Debt Simultaneously Persist? The Case of Transition Economy

这研究在现金资源和短期的债同时在样品时期上占超过 20% 全部的财产至少二连续的年的中国公司观察并且探索一个难题。这现象与社团的价值最大化的原则冲突，并且不是清楚地在社团的金融由古典理论解释了。在中国在转变经济的机构的限制的现存文学和讨论基于含意，这份报纸开发涉及在最大的股东和债权人和这思索的形成之间的机构冲突的四个假设金融结构。实验分析建议有通道动机的最大的股东寻求保持更多的现金服务他们的私人利息或列出的公司的作为结果的运作的赤字。到目的，这些公司趋于管理预定短学期债资助在年的结束暂时增加现金储备。实质上，这些公司的资产负债表上的更大的现金资源与难题联系了为潜在的债权人成为一个似是而非的信号，可能贡献供这些的短期的债列出了公司下列年。因此，思索金融结构与预定债资助和债权人的不利选择被连接。这研究在现金资源和债成熟上充实文学的溪流，并且在转变经济的上下文在在现金资源和债成熟之间的协会上在最大的股东的机构问题的影响上提供新证据。

Early Internationalization Of New Ventures From Emerging Countries: The Case of Transition Economies

This article investigates the factors that influence early internationalization of new ventures in the context of emerging economies. More specifically, our research builds on the theoretical and empirical literature on International New Ventures (INV) to develop an original conceptual framework and formulate hypotheses concerning the environment, industry and firm-related factors that enhance or constrain rapid internationalization of new firms from emerging countries. We tested our hypotheses on a sample of more than 23000 firms from 27 transition countries in Central and Eastern Europe and Central Asia between 2002 and 2009. The empirical study shows that several factors are positively related to the probability that a firm will internationalize from inception: access to ICT infrastructure, being located in an EU country, industry competition, a better-educated workforce, networks in the home country and international networks. In contrast, early internationalization is negatively affected by insecurity and, more surprisingly, by a firm’s knowledge intensity. These results contribute to a better understanding of the specificities of the internationalization of firms from emerging economies.

A time-varying copula approach to oil and stock market dependence: The case of transition economies

We employ the time-varying copula approach to investigate the conditional dependence between the Brent crude oil price and stock markets in the Central and Eastern European (CEE) transition economies. Our results show evidence of a positive dependence between the oil and the stock markets of the six CEE countries, which is indicative of a contagion between those markets, regardless of the changes in the oil price or the CEE stock index. Moreover, the dependence patterns in both the center and left tails of the return distributions change over time, particularly during the heart of the financial crisis, and are best described by the Survival Gumbel copulas. The empirical evidence also suggests that the lower tail dependence is much stronger than that of the upper tail, highlighting the importance of contagion during severe contractionary business cycles. Among the sample markets, Poland is shown to be particularly sensitive in this regard, while Hungary and Slovenia are the least sensitive.

Effect of IMF Structural Adjustment Programson Expectations: The Case of Transition Economies

We analyze the effect of IMF programs on economic agents' expectations about the economy in transitional countries using survey data from the Central and Eastern Eurobarometer poll, an annual general public survey monitoring the evolution of public opinion from 1990 to 1997. Previous studies, in contrast, have looked at indirect measures, such as capital flows or yield spreads, to assess the impact of IMF programs on economic expectations. Using a multinomial probit model, we find that IMF loans appear to have a strong effect on agent expectations in the early years, through the inflow of real money, and through the signaling effect. IMF programs during periods of collapsing growth appear to reinforce underlying expectations for the future; they are associated with positive expectations for those with an optimistic outlook and negative expectations for those with a negative outlook. Once recovery is underway, and economic uncertainty diminishes, it appears that IMF programs cease to have a statistically significant effect on the expectations of economic agents. This suggests that IMF programs have the biggest impact on expectations during periods of great uncertainty and less of an impact when countries are subject to minor shocks.

Effect of IMF Structural Adjustment Programs on Expectations: The Case of Transition Economies

We analyze the effect of IMF programs on economic agents' expectations about the economy in transitional countries using survey data from the Central and Eastern Eurobarometer poll, an annual general public survey monitoring the evolution of public opinion from 1990 to 1997. Previous studies, in contrast, have looked at indirect measures, such as capital flows or yield spreads, to assess the impact of IMF programs on economic expectations. Using a multinomial probit model, we find that IMF loans appear to have a strong effect on agent expectations in the early years, through the inflow of real money, and through the signaling effect. IMF programs during periods of collapsing growth appear to reinforce underlying expectations for the future; they are associated with positive expectations for those with an optimistic outlook and negative expectations for those with a negative outlook. Once recovery is underway, and economic uncertainty diminishes, it appears that IMF programs cease to have a statistically significant effect on the expectations of economic agents. This suggests that IMF programs have the biggest impact on expectations during periods of great uncertainty and less of an impact when countries are subject to minor shocks.

Testing for price bubbles: the case of transition economy

This paper investigates the possibility that the observed deviations of the price changes can be explained by a bubbles hypothesis in the specific case of the transition economy in Bulgaria. The rational expectations model is used for testing the hypothesis of no bubbles. We examine the time series properties of the monthly data for period from May 1991 to December 1996. After testing the validity of Cagan's hyperinflation model we are able to reject the no bubbles hypothesis for period from January 1995 to December 1996.